GO Markets was founded in 2016 and while it is first and foremost, a Forex trader, it is now also one of the most recognized and reputed binary options brokers in the world. It is based in the Australian financial sector.
Go Markets Australia
The first thing for a binary options trader to know about GO Markets is whether or not it has been licenced by the Australian Securities & Investments Commission or ASIC. After all, being a government regulated broker reassures clients that they are not being scammed. As it turns out, GO Markets has obtained a licence from the ASIC which requires rigid standards to be maintained before issuing one.
Pros
- 24 hour customer service on weekdays
- Pay-out ratios up to 80%
- Low minimum trade of $5
- Free educational tools
- Cashback refunds up to $250 AUD
Cons
- Available in very few languages
Go Markets Platform
Being a Forex broker, GO Markets Australia uses a trading platform based on META Trader 4 which is oriented around more traditional forms of trading. It has since been adapted to facilitate binary options trades as well.
For trading in binary options with GO Markets, you will be required to also download an MT4 plugin called FX Lite for MT4. It can be accessed by using the same login details from your MT4 account.
The binary options trading process is further improved by the inclusion of a widespread range of MT4 trading tools called MT4 Genesis.
It also presents freshly designed options like a Session map, Correlation Trader, Sentiment Indicator, Terminal window and Mini Terminal.
The only types of accounts offered by GO Markets are a standard account and a Pro account. The Standard account is for new comers and the Pro is for more experienced traders. Both accounts are identical in standard features.
However, only Pro account holders are entitled to more advanced services like access to MT4 Genesis, VPS, and Autochartist. All traders are open to use the GO Markets Demo account which can be utilized for free along with $100,000 in virtual money.
GO markets enables its binary options traders to know precisely how much they stand to make out of their trades. This is made possible because GO Markets displays the exact pay-out ratio between the trade and return on the trade. This is calculated according to the amount that was initially invested.
GO Markets Minimum Deposit
The minimum requirements of GO Markets are quite simple regarding its range of accounts. New traders have to make an initial deposit of $200 to open a standard account while more experienced traders will be required make an initial deposit of $500 to open their Pro accounts. For new accounts, GO Markets offers a bonus worth 10%. It also offers a $250 refund but that is only for Forex traders.
There is no shortage of methods when it comes to depositing money with GO Markets Australia. The easiest one is to use either your VISA or MasterCard debit or credit cards since the deposit can be processed immediately. If you are a binary options trader in Australia, BPay would be the most commonly used method. If you are not from Australia, a simple wire transfer between banks would do. GO Markets also accepts some third part payment processing companies.
Out of all the licensed and regulated brokers in Australia, the pay-out ratios offered by GO Markets are impressive. On average it is around 75% but for certain assets, it goes as high as 80%.
GO Markets has an impressive customer service setup. There are available to traders from all around the world at all times. They can be contacted via phone or email if assistance is required. There is also a physical office location, which can be quite rare among binary options brokers. All of this only increases the authenticity of this broker and makes it a suitable options for new traders.
GO Markets Broker Alternatives
Plus500 Australia – This broker accepts Australian traders and they have a great reputation.
HighLow – If you are interested in binary options, then highlow is one of the best brokers for AU traders.
Is Go Markets Good or Bad?
All things considered, GO Markets remains a very reputable and reliable binary options trading broker in the Australian financial sector.
It features an advanced trading infrastructure that is immensely beneficial and accessible to clients. Go Markets can execute trades relatively quicker than most of other brokers. It is a good choice to go with as your binary options broker.