GO Markets Review

Overall, GO Markets is very competitive in terms of its trading fees and spreads. GO Markets offers 2 retail investor accounts as well as a demo account. GO Markets have over 50 000 active Rwandan traders and have an overall Trust Score of 98% out of 100

Updated : July 21, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

200 USD/204 461 RWF

Regulators

Australian Securities & Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySec), Financial Services Commission (FSC)Financial Services Authority (FSA) & Securities and Commodities Authority (SCA)

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

600+

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

GO Markets Overview

GO Markets Review Overview

👉 Overall, GO Markets is considered low-risk, with an overall Trust Score of 98 out of 100. GO Markets is licensed by one Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and two Tier-3 Regulators (low trust). GO Markets offers two different retail trading accounts namely a Standard Account and a GO+ Account.

 

👉 GO Markets accepts Rwanda clients and has an average spread from 0.0 pips with US$5 commission round turn/US$2.5 per side. GO Markets has a maximum leverage ratio up to 1:500 and there is a demo account but no Islamic Account. MT4 and MT5 platforms are supported. GO Markets is headquartered in Australia and regulated by ASIC, FSA Seychelles, FSC Mauritius, and CySEC.

 

👉 GO Markets was founded in Australia in 2006 and has operations in the Caribbean islands of Mauritius, Cyprus, and Seychelles. The award-winning GO Markets lets you trade forex in more than 50 currency pairs and CFDs in more than 600 items, including commodities, indices, metals, and individual stocks.

 

👉 It was GO Markets that introduced MT4 to the Australian market, and it continues to support MT5 today, which allows traders to trade CFDs on a wider range of markets than just FX. A commission-based GO Plus+ account or spread-based Standard account is available to GO Markets clients.

 

👉 GO Markets offers a free trial account for Rwandan traders to try out their services. Trading accounts may be opened with Go Markets by citizens of more than 175 countries, even though this broker does not allow US or Canadian clients, or some from other regions (as indicated on the official GO Markets website).

 

👉 This GO Markets review for Rwanda will provide local retail traders with the details that they need to consider whether GO Markets is suited to their unique trading objectives and needs.

 

GO Markets Distribution of Traders

GO Markets Review Distribution of Traders

👉 GO Markets currently has the largest market share in these countries:

➡️ Australia – 31.5%

➡️ Philippines – 9.5%

➡️ United Kingdom – 6.8%

➡️ Viet Nam – 5.6%

➡️ Brazil – 5.3%

 

Popularity among traders who choose GO Markets

GO Markets Review Popularity

🥇 Customers from all around the world may trade with confidence at GO Markets, a registered CFD and Forex broker. It may not be a household name in Rwanda, but GO Markets is nevertheless one of the top 30 brokers in the country, making it a good choice for Rwandan traders.

GO Markets at a Glance

🏙 HeadquarteredAustralia
🏛 Global OfficesAustralia, Hong Kong, United Kingdom, Taipei
💻 Local Market Regulator in RwandaThe National Bank of Rwanda (BNR)
💸 Foreign Direct Investment in Rwanda99.92 USD Million in 2020
🔄 Foreign Exchange Reserves in Rwanda1,806 million US dollars in 2020
🏛 Local office in Kigali?No
👨‍⚖️ Governor of SEC in RwandaNone, John Rwangombwa is the Governor of the National Bank of Rwanda
✔️ Accepts Rwandan Traders?Yes
🗓 Year Founded2006
☎️ Rwandan Traders Office Contact NumberNone
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
⚖️ RegulationASIC, FSA Seychelles, FSC Mauritius, CySEC
1️⃣ Tier-1 Licenses• Australian Securities and Investments Commission (ASIC)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
3️⃣ Tier-3 Licenses• Financial Services Authority (FSA)
• Financial Services Commission (FSC)
🪪 License Number• Australia – ABN 24 653 400 527, AFSL 254963
• Seychelles – SD043
• Mauritius – GB 19024896
• Cyprus – 322/17
⚖️ BNR RegulationNone
🏛 Regional RestrictionsUSA, Canada, New Zealand, Belgium, Japan, Israel, Turkey, Vietnam, Puerto Rico, Afghanistan, Azerbaijan, Bosnia and Herzegovina, Burundi, Central African Rep, Congo, Cote D’Ivoire , Ethiopia, Eritrea, Egypt, Gaza Strip, Haiti, Iran, Iraq, Lebanon, Libya, Myanmar, North Korea, Pakistan, Serbia, Sierra Leone, Somalia, Sri Lanka, Sudan, South Sudan, Syria, Trinidad and Tobago, Tunisia, West Bank, Ukraine, Vanuatu, Venezuela, Yemen, Zimbabwe.
☪️ Islamic AccountNo
💻 Demo AccountYes
🛍 Retail Investor Accounts2
✔️ PAMM AccountsYes
💵 Liquidity ProvidersOver 22 liquidity providers
💰 Affiliate ProgramYes
➡️ Order ExecutionInstant
📊 Starting spread0.0 pips
💸 Minimum Commission per TradeFrom US$2.50
💵 Decimal Pricing5th decimal pricing after the comma
📞 Margin Call80%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size250 lots
💰 Crypto trading offered?No
✔️ Offers an RWF Account?No
👥 Dedicated Rwandan Traders Account Manager?No
📊 Maximum Leverage1:500
📈 Leverage Restrictions for Rwanda?No
💵 Minimum Deposit (RWF)140,000 RWF or an equivalent to AU$200
✔️ Rwandan franc Deposits Allowed?No
📊 Active Rwandan Traders Trader Stats50,000+
👥 Active Rwandan Traders-based GO Markets customersUnknown
🔄 Rwanda Daily Forex TurnoverUnknown, the overall trading volume of over $6.6 trillion
💰 Deposit and Withdrawal Options• Credit Card
• Debit Card
• POLi
• Skrill
• Neteller
• Bank Wire Transfer
• BPAY
• Fasapay
📉 Minimum Withdrawal TimeInstant
📈 Maximum Estimated Withdrawal Time1 to 3 business days
💰 Instant Deposits and Instant Withdrawals?Yes
🤝 Segregated Accounts with Rwandan Traders Banks?No
💻 Trading Platforms• MetaTrader 4
• MetaTrader 5
💵 Tradable Assets• Forex CFDs
• Share CFDs
• Index CFDs
• Metal CFDs
• Commodity CFDs
💸 Offers USD/RWF currency pair?No
📊 USD/RWF Average SpreadN/A
✅ Offers Rwandan Traders Stocks and CFDsNo
📖 Languages supported on the WebsiteEnglish, Spanish, Italian, Portuguese, Arabic, Indonesian, Thai
📘 Customer Support LanguagesMultilingual
🗣 Copy Trading SupportYes, Myfxbook AutoTrade
⏰ Customer Service Hours24/5
📞 Rwandan Traders-based customer support?Yes
💰 Bonuses and Promotions for Rwandan TradersNone
📚 Education for Rwanda beginner tradersYes
📱 Proprietary trading softwareNo
🏅 Most Successful Rwandan TraderUnknown
✔️ Is GO Markets a safe broker for Rwandan Traders?Yes
🎖 Rating for GO Markets Rwanda8/10
🥇 Trust score for GO Markets Rwanda98%
👉 Open An Account👉 Open Account

GO Markets Regulation and Safety of Funds

GO Markets Review Regulation of Funds

GO Markets Regulation in Rwanda

👉 While GO Markets is not locally regulated in Rwanda, the broker has several licenses with reputable entities worldwide.

 

GO Markets Global Regulations

👉 GO Markets’ list of regulatory bodies and necessary licenses is as follows:

➡️ GO Markets Ltd. has been licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the number 322/17.

➡️ Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), has given the company the go light to operate under the AFSL Number 254963 and ABN 24 653 400 5277.

➡️ Mauritius’ Financial Services Commission (FSC), a Tier 3 financial regulator, oversees GO Markets Pty Ltd. (MU) under FSC license number GP19024896.

➡️ Finally, the Financial Services Authority (FSA) in Seychelles oversees and regulates GO Markets International Ltd as Securities Dealer number SD043 under Tier-3 market regulation.

 

GO Markets Client Fund Security and Safety Features

👉 The level of regulatory oversight and protections that investors might expect based on a broker’s location are important considerations for investors. Many brokers have gone overseas because of Tier-1 and Tier-2 regulating agencies such as the FCA, CySEC, and ASIC’s regulatory clampdown, therefore verifying the licenses that brokers claim to hold is essential.

 

👉 The following highlights the components that Rwandans must evaluate when they consider GO Markets:

➡️ Funds from clients are kept separate from those held by the company. Because you do not want your broker to use your money to run their business, client funds must be kept separate from corporate funds.

➡️ Positive balance protection policy. Because of this, your account can never have a negative balance owing to market changes.

➡️ Structure of pay and benefits. If a broker does not perform as expected, would the organization or regulatory body compensate them?

➡️ Does the broker take additional safeguards even if they are not necessary? You can tell right away how serious your broker is about your investment when they take this step.

 

👉 Considering these factors, GO Markets provides the following according to its global entities and regulations:

🥇 GO Markets Securities Pty Ltd🥇 GO Markets Ltd🥇 GO Markets Pty Ltd (MU)🥇 GO Markets International Ltd
⚖️ RegulationASICCySECFSCFSA
💸 Segregation of FundsYesYesYesYes
❌ Negative Balance ProtectionYesYesYes – one-time onlyYes
💰 Compensation SchemeNoYesNoNo

GO Markets Awards and Recognition

👉 Since the company started, GO Markets has won a few prestigious awards in the financial services industry. Investment Trends gave these awards, which include the award for Best Customer Service in 2019 and the award for Best Educational Materials and Programs in 2019. Both awards were given by Investment Trends.

GO Markets Account Types and Features

GO Markets Review Account Types

👉 Everything you do in trading will be influenced by the account you open. It is critical to choose a trading account that meets your specific needs since different ones have different fees, tradable products, and platforms.

 

👉 GO Markets allows Rwandans to choose between a Standard and a GO+ Account. All traders, regardless of their degree of ability or experience, cannot use the same trading technique. Therefore, Rwandan traders must develop a technique unique to their trading style and objective.

 

💻 Live Account💰 Minimum Dep.📊 Average Spread💸 Commissions💵 Average Trading Cost
➡️ Standard140,000 RWF or 200 AUD1 pipNone10 USD
➡️ GO+140,000 RWF or 200 AUD0.0 pipsAU$3 per side6 USD

 

GO Markets Live Trading Accounts

Standard Account

GO Markets Review Standard Account

👉 Using a minimum investment of 190,000 RWF or an equivalent to AU$200, Rwandan traders can register a basic GO Markets account with the MetaTrader 4 or 5. Spreads begin at 1.0 pips, and leverage is offered at 500:1. With this account, trades are processed quickly and there are no commission fees associated with GO Markets’ service.

 

👉 In addition, both new and seasoned traders alike could benefit from a Standard Account since it provides a wide range of educational material and resources to help them make the best trading choices.

Account FeaturesValue
💰 Minimum Deposit Requirement140,000 RWF or an equivalent to AU$200
✔️ Access to an Account ManagerYes
💸 Commission ChargesNone
📱 Average SpreadVariable, from 1 pip
📊 Markets Offered• 50+ FX Pairs including major, minor, and exotic pairs
• Shares
• Indices
• Commodities
• Cryptocurrencies
📈 Maximum Leverage offered1:500
✔️ Access to Trading ToolsYes
💰 Base Account CurrenciesAUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
🗣 Expert AdvisorsYes
✅ Scalping Allowed?Yes
✔️ Free VPS offered?Yes

 

GO+ Account

GO Markets Review GO+ Account

👉 This account, which provides the industry’s tightest spreads, is not only suitable for high-volume traders but also trading bots due to its advantageous pricing structure. Traders have unrestricted access to the following features:

Account FeaturesValue
💰 Minimum Deposit Requirement140,000 RWF or an equivalent to AU$200
✔️ Access to an Account ManagerYes
💸 Commission ChargesAU$3 per side on a standard lot
📱 Average SpreadVariable, from 0.0 pips
📊 Markets Offered• 50+ FX Pairs including major, minor, and exotic pairs
• Shares
• Indices
• Commodities
• Cryptocurrencies
📈 Maximum Leverage offered1:500
✔️ Access to Trading ToolsYes
💰 Base Account CurrenciesAUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
🗣 Expert AdvisorsYes
✅ Scalping Allowed?Yes
✔️ Free VPS offered?Yes

 

GO Markets Base Account Currencies

👉 Traders from Rwanda who register for an account with GO Markets have the option of choosing one of the following base currencies in which the account will be denominated:

➡️ AUD

➡️ USD

➡️ EUR

➡️ GBP

➡️ NZD

➡️ CAD

➡️ SGD

➡️ CHF

➡️ HKD

 

GO Markets Demo Account

GO Markets Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

👉 There is a certain degree of risk involved when trading financial markets and GO Markets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

👉 This account, which is provided by GO Markets, is available free of charge on both the MT4 and MT5 platforms. Additionally, it provides a total of 50,000 USD in virtual money, and its characteristics are identical to those of the real-time live platform.

 

👉 Rwandan traders can practice trading with demo accounts in live market conditions using virtual funds, and this allows them to have a feel for the platform and GO Markets’ offering.

 

GO Markets Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 There is no option for Muslim traders to register an Islamic account or to convert an existing live account into an Islamic account.

How to open an Account with GO Markets in Rwanda

GO Markets Review Account Registration

👉 To register an account with GO Markets, Rwandan Traders can follow these steps:

➡️ To begin the registration process, go to the GO Markets website.

➡️ The trader must provide their full name, email address, phone number, etc. to complete this step.

➡️ To open a trading account, a verification link is issued to the trader’s email address. Once the trader’s email address is verified, they can proceed with the account application.

➡️ This step will require additional information such as the trader’s employment status, source of funds, financial experience, and so on.

➡️ In addition, to complete the account application, Rwandan traders must submit proof of their identity and residence so that GO Markets can check the information against the trader’s papers.

➡️ Once the account is approved and the trader’s details have been verified, they can make the minimum deposit.

GO Markets Vs Alpari Vs SuperForex – Broker Comparison

🥇 GO Markets🥈 Alpari🥉 JustForex
⚖️ RegulationASIC, FSA Seychelles, FSC Mauritius, CySECFSCNone
💻 Trading Platform• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
• Alpari Mobile App
• MetaTrader 4
• SuperForex App
💵 Withdrawal FeeNoYesYes
✔️ Demo AccountYesYesYes
💰 Min Deposit140,000 RWF10,200 RWF1,000 RWF
📊 LeverageUp to 1:500Up to 1:10001:2000
📈 SpreadFrom 0.0 pipsFrom 0.4 pipsFrom 0.0 pips
💸 CommissionsFrom US$2.50$1.5From 0.013%
🛑 Margin Call/Stop-Out80%/50%• 60% to 120%
• 30% to 100%
80%/40%
📲 Order ExecutionInstantInstant and MarketInstant and Market
✔️ No-Deposit BonusNoNoNo
✅ Cent AccountsNoNoYes
💻 Account Types• Standard Account
• GO+ Account
• Forex Standard Account
• Forex Micro Account
• Forex ECN Account
• Forex Pro Account
• Standard Account
• Swap-Free Account
• No Spread Account
• Micro Cent Account
• Profi STP Account
• Crypto Account
• ECN Standard Account
• ECN Standard Mini Account
• ECN Swap-Free Account
• ECN Swap-Free Mini Account
• ECN Crypto Account
⚖️ BNR RegulationNoNoNo
💵 RWF DepositsNoYesYes
✔️ Rwandan franc AccountNoNoYes
📞 Customer Service Hours24/524/524/5
🛍 Retail Investor Accounts2411
☪️ Islamic AccountNoYesYes
📉 Minimum Trade Size0.01 pips0.01 lots0.01 lots
📈 Maximum Trade Size250 lots250 lotsNone
📊 Minimum Withdrawal TimeInstantInstantInstant
⏱ Maximum Estimated Withdrawal Time1 to 3 business days3 to 5 Business Days2 to 4 working days
✔️ Instant Deposits and Instant Withdrawals?YesYesYes

Overall Rating

Min Deposit

200 USD/204 461 RWF

Regulators

Australian Securities & Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySec), Financial Services Commission (FSC)Financial Services Authority (FSA) & Securities and Commodities Authority (SCA)

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

600+

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

GO Markets Trading Platforms

GO Markets Review Trading Platforms

👉 GO Markets offers Rwandan Traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

 

Desktop Platforms

GO Markets Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

MetaTrader 4

👉 Millions of traders across the world use the MetaTrader 4 (MT4) platform as their primary trading platform. The architecture of the platform is straightforward and visually appealing, making it appealing to traders of all levels, regardless of experience.

 

👉 One of the first online brokers to provide MetaTrader 4 (MT4) for Australian consumers was GO Markets, which was established in 2006. Since then, MT4 Genesis and other MT4 tools have been developed to further enhance the platform’s capabilities.

 

👉 Features that make trading simple and pleasurable, as well as built-in tools that increase the efficiency of deals, are provided by this platform.

 

MetaTrader 5

👉 There is a lot of power in the MT5 platform. A depth of market (DOM), order and transaction accounting, and other tools are available on this platform. Additionally, it provides a means for the hedging option in addition to the more typical way of netting.

 

👉 To meet a variety of trading goals, a broad range of order execution modalities, such as Instant, Request, Market, and Exchange, are made accessible to investors. In addition to market, pending, stop and trailing stop orders, MT5 can handle all other forms of trading orders.

 

WebTrader Platforms

GO Markets Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

MetaTrader 4

👉 The web-based MetaTrader 4 platform allows you to watch many markets at once, allowing you to review multiple charts on the same screen. The Market Watch column on the left side of the page highlights the numerous items that are now available for purchase or sale.

 

👉 Using this list, you may create your own watchlist and adjust it to suit your requirements. If you want to show more information, such as the distribution of an instrument, you may add more columns. 42 more technical indicators and drawing tools are at your disposal for further investigation.

 

👉 Go Markets also provides some lessons for those who are just starting with the MT4 platform and are looking for some help. The platform’s tools and capabilities, as well as its general functionality and user experience, are all covered in the tutorials.

 

MetaTrader 5

👉 MT5 is a flexible, stylish, and easy-to-use platform. In many ways, MT5 is a continuation of MT4, but it adds several new features that allow for more detailed price research and automated trading, as well as copy trading.

 

👉 The built-in analytical features of MT5 are great when it comes to doing market analysis. In terms of the number of open charts it can handle, there are no limits. There are 21 periods available for chart analysis, compared to MT4’s 9.

 

👉 More than 80 technical indicators and analytical tools are at your disposal. Custom indicators, EAs, and signals, to name a few, are now accessible in the MQL marketplace in their countless numbers.

 

Trading App

GO Markets Review Trading Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

MetaTrader 4 and MetaTrader 5

👉 The GO Markets MetaTrader 4 and 5 mobile apps are the fastest and easiest way to execute trades when compared to the desktop platform.

 

👉 While you are on the road, the mobile app lets you do technical analysis across a variety of markets and keep track of your trading account. You can download the MetaTrader 4 and 5 mobile apps from the app store for both Android and iOS devices.

 

👉 Navigating between sections of the GO Markets MT4/5 mobile app is simple because of the app’s clean design. The MT4/5 mobile app also has tabs for Quotes, Charts, Trades, History, and Settings at the bottom.

 

👉 Live price quotes for a variety of items are shown on the quotations page. To keep track of your favourite instruments, you can easily create a watchlist and read detailed information about each one, such as the market’s opening and closing times.

 

👉 To purchase or sell a financial instrument, you may click on a market from the quote box and access a chart or a trading ticket. The MT4/5 mobile app charts allow you to keep an eye on many timeframes and do technical analysis while on the move.

GO Markets Range of Markets

GO Markets Review Range of Markets

👉 Rwandan Traders can expect the following range of markets from GO Markets:

➡️ Forex – GO Markets offers more trading options than most other brokers, with a total of more than 50 currency pairs accessible. Exotics (USD/ZAR), minors (NZD/JPY, GBP/JPY, and GBP/USD), and majors (EUR/USD, GBP/USD, and USD/JPY) are all included.

➡️ Stocks – CFDs on more than 270 stocks are available via GO Markets, which is about average when compared to other major international brokers. Major US, British and European stock exchanges are included.

➡️ Indices – GO Markets offers a wide range of indices for trading, which is on par with other comparable brokers. Indices that mix the shares of some of today’s most well-known and prominent corporations are among the most popular in the financial markets.

➡️ Precious Metals – Trading in gold and silver CFDs allows you to go long or short.

➡️ Commodities – Commodities are offered for trading at GO Markets, which is in line with the offerings of other brokers. Most brokers have between five and ten different commodities to choose from. Resources like gold and oil are examples of commodities.

 

Financial Instruments and Leverage offered by GO Markets

🔨 Instrument✔️ Number of Assets Offered📈 Maximum Leverage Offered
➡️ Forex50+1:500
➡️ Precious Metals21:100
➡️ Indices151:100
➡️ Stocks4991:20
➡️ Energies41:30

Broker Comparison for Range of Markets

🥇 GO Markets🥈 Alpari🥉 SuperForex
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoYes
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsNoNoYes
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

GO Markets Trading and Non-Trading Fees

Spreads

GO Markets Review Spreads

👉 Spreads for major and minor currency pairs vary from 0 to 12.2 pips, with the smallest beginning at 0.1 pips for indices. You may access variable spreads on gold, silver, and crude oil through the GO Markets website or the MetaTrader trading platforms.

 

👉 Typical spreads charged by GO Markets include the following:

➡️ AUD/USD – From 0.1 pips

➡️ USD/CAD – From 0.2 pips

➡️ EUR/USD – From as low as 0.0 pips with an average of 0.1 pips

➡️ USD/JPY – From 0.2 pips

➡️ USD/CHF – from 0.3 pips

➡️ GBP/USD – from 0.2 pips

 

Commissions

GO Markets Review Commissions

👉 Traders from Rwanda who open a Standard Account with GO Markets will get commission-free trading. This is since the broker’s fee is already included in the spreads they pay when opening and closing positions.

 

👉 The GO+ Account, however, provides zero-pip spreads, which results in the following fee structure for transactions, depending on the account’s base currency:

➡️ Australian Dollar (AUD) – AU$3.00

➡️ Euro (EUR) – €2.00

➡️ Great British Pound (GBP) – £2.00

➡️ New Zealand Dollar (NZD) – NZ$3.50

➡️ United States Dollar (USD) – US$2.50

➡️ Singapore Dollar (SGD) – SG$3.50

➡️ Swiss Franc (CHF) – FR$2.50

➡️ Canadian Dollar (CAD) – CA$3.00

➡️ Hong Kong Dollar (HKD) – HK$20

 

Overnight Fees, Rollovers, or Swaps

GO Markets Review Overnight Fees

👉 The swap rate applied to overnight holdings is an extra cost that must be accounted for. Each night that a position is held, the corporation either pays (or receives) interest.

 

👉 By right-clicking a currency pair and selecting the “Specification” option, Rwandan traders on the site may discover an indicative Swap. Some common overnight expenses include:

➡️ EUR/CHF – -0.178 short swap and -0.073 long swap

➡️ EUR/USD – 0.085 short swap and -0.378 long swap

 

Deposit and Withdrawal Fees

Deposit and Withdrawal Fees

👉 The live trading account enables deposits to be made in several convenient ways, and there are no additional fees associated with processing transactions.

 

👉 GO Markets does not impose withdrawal fees, but traders are liable for any expenses paid when withdrawing money to a financial institution situated outside of Australia.

 

Inactivity Fees

👉 GO Markets does not apply any inactivity fees on dormant accounts.

 

Currency Conversion Fees

👉 Because UGX is not an accepted base currency for accounts, Rwandan traders can expect a currency conversion fee when they deposit or withdraw funds.

GO Markets Deposits and Withdrawals

GO Markets Deposits and Withdrawals

👉 GO Markets offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ POLi

➡️ Skrill

➡️ Neteller

➡️ Bank Wire Transfer

➡️ BPAY

➡️ Fasapay

 

Broker Comparison: Deposit and Withdrawals

🥇 GO Markets🥈 Alpari🥉 SuperForex
Minimum Withdrawal TimeInstantInstantInstant
Maximum Estimated Withdrawal Time1 to 3 business days3 to 5 Business Days2 to 4 working days
Instant Deposits and Instant Withdrawals?YesYesYes. deposits

 

GO Markets Deposit Currencies, Deposit and Withdrawal Depositing Times

💰 Payment Method💵 Deposit Currencies💸 Deposit Processing💰 Withdrawal Processing
Credit CardUSD, AUD, USD, GBP, EUR, NZD, SGD, CAD, CHF, HKDInstantInstant
Debit CardUSD, AUD, USD, GBP, EUR, NZD, SGD, CAD, CHF, HKDInstantInstant
POLiAUDInstantInstant
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How to Deposit Funds with GO Markets

GO Markets Review How to Deposits Funds

👉 To deposit funds to an account with GO Markets, Rwandan Traders can follow these steps:

➡️ To make a deposit, Rwandan traders may use the GO Markets Client Portal.

➡️ From this page, clients can choose their preferred deposit method.

➡️ Traders may then choose their chosen deposit method and input the desired deposit amount.

➡️ Finally, traders must adhere to any additional deposit instructions issued by their payment service provider.

GO Markets Fund Withdrawal Process

GO Markets Review How to Withdraw Funds

👉 To withdraw funds from an account with GO Markets, Rwandan Traders can follow these steps:

➡️ Log onto the Client Portal and choose “Withdrawal” from the choices shown on the trader’s interface or dashboard.

➡️ After selecting your chosen withdrawal method and entering the desired withdrawal amount, click “Confirm.”

 

👉 Withdrawing fund is a simple process that may be accomplished immediately from your online account area. As a regulated broker, GO markets processes withdrawals within one to two working days on average. However, traders should provide additional time for their payment processor or other processes.

GO Markets Education and Research

GO Markets Review Education And Research

Education

👉 Through its GO Trade Academy, GO Markets provides customers with access to a broad variety of instructional tools and information. This educational institution offers a variety of courses based on its own proprietary management training methodology.

 

👉 In addition, the classes are offered at no cost, and there are online videos that give live group coaching webinars.

 

👉 GO Markets provides its users with access to a variety of research tools, which enables novice traders to execute trading transactions more easily.

 

👉 In addition to this, it makes several instructional programs and research resources accessible for free, which are used by various kinds of traders but are employed universally.

 

👉 Traders may access a variety of learning resources, including video tutorials, webinars, and seminars on Forex trading at GO Markets Academy.

 

👉 These materials are available in numerous languages. One’s abilities may be levelled up and one’s ability to make more profitable trades can be improved by utilizing them from the website.

 

Research and Trading Tool Comparison

🥇 GO Markets🥈 Alpari🥉 SuperForex
Economic CalendarYesYesYes
VPSYesNoYes
AutoChartistYesNoNo
Trading ViewYesNoNo
Trading CentralYesNoNo
Market AnalysisYesYesYes
News FeedYesYesYes
BlogYesYesYes

👉 The trading platforms of GO Markets offer traders a variety of trading tools, including Myfxbook, Trading Central, and AutoChartist. These tools identify various successful trading opportunities where traders may utilize fundamental and technical research to make trades.

 

➡️ Myfxbook is a copy trading program that can be used by traders of all experience levels and is provided by GO Markets.

➡️ Trading Central provides a variety of reports compiled by specialist analysts and other technical experts.

➡️ AutoChartist is a strong tool for detecting chart patterns; its technical analysis simplifies chart analysis for inexperienced traders. It offers traders many possibilities to benefit from price fluctuations.

➡️ In addition, GO Markets provides traders with a private VPS service for Metatrader 4 and Metatrader 5. Eventually, an AUD30 service fee will be levied for utilizing the service; however, this price is avoided if the trader trades a minimum of five lots.

 

👉 In addition to these tools, GO Markets also offers:

➡️ Daily News

➡️ Weekly Summaries

➡️ Articles

➡️ Economic Calendar

➡️ a-Quant

➡️ MT4 and 5 Genesis

GO Markets Bonuses and Promotions

👉 GO Markets does not currently offer any bonuses or promotions to Rwandan traders.

How to open an Affiliate Account with GO Markets

GO Markets Review Affiliate Program

👉 To register an Affiliate Account, Rwandan Traders can follow these steps:

➡️ The “Affiliates” option may be found at the very top of the GO Markets homepage by searching for it on the GO Markets website.

➡️ Prospective affiliates can begin the process by clicking on the green “Sign Up Now” banner when it is available.

➡️ Residents of Rwanda may open their own affiliate accounts by filling out an online form that gathers all the necessary information.

➡️ It is possible to submit the form after it has been completed and GO Markets will contact the applicant to let them know how their application is progressing.

 

👉 The following elements are considered by the broker throughout the application process for becoming an affiliate. These aspects are detailed in the GO Markets Affiliate Guidelines.

➡️ The affiliate or partner candidate’s existing industry.

➡️ Whether the candidate’s affiliate firm is already licensed or whether it is required to join the affiliate network.

➡️ A review of the candidate’s website or media platform to see whether the information given is relevant and to determine if any material is false or fraudulent.

➡️ A review to see whether the overall brand or reputation of the firm has the potential to become an affiliate in the industry or market that is being targeted.

 

GO Markets Affiliate Program Features

GO Markets Affiliate Program Features

👉 Forex and CFD broker Go Markets has been in operation for more than 15 years and is authorised by the Financial Do Authority to conduct business.

 

👉 To make more money, Rwandans can join GO Markets’ lucrative affiliate program by referring new customers to the firm. The GO Markets Affiliate Program has several perks for its members, including the following:

➡️ A trading environment that is well-regulated and trusted

➡️ Ongoing commissions that are market-leading

➡️ Excellent support

➡️ Marketing materials that include banners, links, widgets, and more

GO Markets Customer Support

GO Markets Customer Support

👉 GO Markets offers helpful and prompt customer support in several languages over several communication channels.

 

Customer SupportGO Markets’ Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Vietnamese, Indonesian, Arabic, Thai, Portuguese, Chinese, Spanish
🗯 Live ChatYes
📧 Email AddressYes
📞 Telephonic SupportYes
✔️ Local Support in Rwanda?No
🥇 Overall quality of GO Markets Support4/5

GO Markets Corporate Social Responsibility

👉 GO Markets does not currently indicate active Corporate Social Responsibility projects or initiatives on the official website.

Overall Rating

Min Deposit

200 USD/204 461 RWF

Regulators

Australian Securities & Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySec), Financial Services Commission (FSC)Financial Services Authority (FSA) & Securities and Commodities Authority (SCA)

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

600+

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Our Verdict on GO Markets

👉 For traders who want a simple account structure and a wide selection of trading tools on the MT4/MT5 platforms, GO Markets is an excellent choice. CFD and FX traders of all skill levels will find GO Markets to be a credible broker.

 

👉 GO Markets is an excellent solution for experienced traders due to the broker’s support of the top MetaTrader platforms and the wide range of trading tools offered. Go Markets offers a comprehensive range of CFD and Forex trading products at some of the most competitive prices around. A great option for new traders is the no-commission trading account with the added benefit of a personal account manager.

 

👉 Even though MetaTrader 4 is designed for experienced traders, there are tutorials accessible. There are desktop trading platforms as well as two distinct account types that provide both free and commission-based trading choices.

GO Markets Pros and Cons

✔️ Pros❌ Cons
GO Markets is an Australian-based broker that is licensed and regulated by ASIC, CySEC, FSC, and FSAThere is no Islamic account offered
There are commission-free trades offered on the Standard AccountThere are commission-free trades offered on the Standard Account
The GO+ Account offers zero-pip spreads and competitive commissionsThere is a high minimum deposit requirement on both account types offered
GO Markets offers dedicated 24/5 customer support to help traders
There is a selection of tradable financial instruments offered

FAQ

Does GO Markets have Volatility 75?

No, Volatility 75 does not form part of GO Markets’ product portfolio.

 

Does GO Markets have Nasdaq?

Yes, Nasdaq can be found when you trade with GO Markets.

 

How much money do I need to open a GO Markets account?

In Rwanda, you will need a minimum of 140,000 Rwandan francs or an equivalent to AU$200 according to the current exchange rate.

 

Is GO Markets regulated?

Yes, GO Markets is well-regulated in Cyprus by CySEC (322/17), ASIC in Australia (AFSL 254963), FSA in Seychelles (SD043), and FSC in Mauritius (GB 19024896).

 

How do I verify my GO Markets account?

By electronically uploading your proof of identity and proof of residence. Your proof of identity entails a clear copy of your Government-issued ID, Driver’s license, or passport while your proof of address is a credit card statement or utility bill that shows your name and residential address.

 

Are there any GO Markets inactivity fees charged?

No, GO Markets does not apply an inactivity fee to dormant accounts.

 

What are the GO Markets withdrawal fees?

GO Markets does not assess any internal withdrawal fees. However, withdrawals of funds to non-Australian banks may incur bank fees from any intermediary bank engaged in the transaction, as well as a receiving charge from your bank/institution.

 

Is GO Markets safe or a scam?

GO Markets is a safe broker. Overall, GO Markets’ lengthy history of responsibility, the segregation of client funds, and the high degree of regulatory scrutiny make it evident that the company wants to offer Rwandan traders a safe and secure trading environment.

 

What is the withdrawal time for GO Markets?

Withdrawals are typically processed within 24 to 48 hours depending on when they are received, GO Markets offers instant withdrawals on some payment methods while others, such as bank wire, can take up to three working days for the funds to reflect in your account.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with GO Markets?

➡️ What was the determining factor in your decision to engage with GO Markets?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with GO Markets such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

10/10 - (1 vote)

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