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GO Markets Review

Overall, GO Markets is very competitive in terms of its trading fees and spreads. GO Markets offers a Kenyan Shilling Account for up to 250 lots and GO Markets have over 70 000 active Kenyan traders and have an overall Trust Score of 98% out of 100. Go markets is currently not regulated by the CMA of Kenya

Updated : August 30, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 200 / 23120 KES

Regulators

ASIC, CySec, FSC, FSA and SCA

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

60

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

GO Markets Overview

GO Markets Review Overview

👉 GO Markets is well-known as an impressive and reputable Forex and CFD broker for Kenyan traders. GO Markets offers client fund security, a choice between trading platforms, and a choice between two dynamic retail investor accounts.

👉 While GO Markets is not regulated by the Capital Markets Authority (CMA) in Kenya, the broker is well-regulated by several other reputable entities, providing it with the necessary authorization and licenses to provide financial services and products.

👉 Clients are always at the top of the priority list at GO Markets, which aims to be the broker of choice for traders of all skill levels by providing innovative trading technology and excellent customer support.

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

Distribution of Traders

GO Markets Review Distribution of Traders

👉 The distribution of traders with GO Markets is as follows:

➡️️​ Australia – 31.5%

➡️️​ Philippines – 9.5%

➡️️​ United Kingdom – 6.8%

➡️️​ Vietnam – 5.6%

➡️️​ Brazil – 5.3%

Popularity among traders who choose GO Markets

GO Markets Review Popularity

🥇 GO Markets does not have a large market share in Kenya, but the broker is part of the Top 50 brokers that accommodate Kenyan traders.

GO Markets At a Glance

🏛 HeadquarteredAustralia
🏙 Kenyan Based OfficeNo
✅ Accepts Kenyan Traders?Yes
🗓 Year Founded2006
📞 Kenyan Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
⚖️ RegulationASIC, FSA Seychelles, FSC Mauritius, CySEC
🪪 License Number• Australia – ABN 24 653 400 527, AFSL 254963
• Seychelles – SD043
• Mauritius – GB 19024896
• Cyprus – 322/17
⚖️ CMA RegulationNo
🚫 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 AccountsNo
🤝 Liquidity ProvidersOver 22 liquidity providers
💸 Affiliate ProgramYes
📲 Order ExecutionInstant
📊 Average spreadFrom 0.0 pips
📞 Margin Call80%
🛑 Stop-Out50%
Crypto trading offered?0.01 lots
💰 Offers a Kenyan shilling Account?250 lots
👨‍💻 Dedicated Kenyan Account Manager?No
📊 Maximum Leverage1:500
🚫 Leverage Restrictions for Kenya?None
💰 Minimum Deposit (KES)17,000 KES equivalent to AU$200
✅ Kenyan shilling Deposits Allowed?No
📊 Active Kenyan Trader Stats70,000+
👥 Active Kenyan-based GO Markets customersUnknown
💳 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Skrill
• Neteller
• Bank Wire Transfer
• Fasapay
🏦 Segregated Accounts with Kenyan Banks?No
📊 Trading Platforms• MetaTrader 4
• MetaTrader 5
✔️ Tradable Assets• Forex CFDs
• Share CFDs
• Index CFDs
• Metal CFDs
• Commodity CFDs
💸 Offers USD/KES currency pair?No
📈 USD/KES Average SpreadN/A
📉 Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish, Spanish, Italian, Portuguese, Arabic, Indonesian, Thai
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
👥 Kenyan-based customer support?No
✅ Bonuses and Promotions for KenyansNone
📚 Education for Kenyan beginnersYes
📱 Proprietary trading softwareNo
💰 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✅ Is GO Markets a safe broker for Kenyans?Yes
📊 Rating for GO Markets Kenya8/10
🤝 Trust score for GO Markets Kenya98%
👉 Open an account👉 Open Account

Regulation and Safety of Funds

GO Markets Review Regulation of Funds

👉 GO Markets holds the following regulations and licensing:

➡️ Australia – GO Markets Securities Pty Ltd is registered as an Australian Private Company under ABN 24 653 400 5277, receiving licensing in September 2021. In addition, GO Markets Pty Ltd has an Australian Financial Services License under AFSL 254963, providing the broker with the necessary authorization to provide financial services.

➡️ Seychelles – GO Markets International Ltd is registered as a securities dealer in Seychelles.

➡️ Mauritius – GO Markets Pty Ltd (MU) is registered in Mauritius with FSC number GB 19024896.

➡️ Cyprus – GO Markets Ltd is registered in Limassol as an Investment Services entity under the license number 322/17.

👉 Subsequently, GO Markets must comply with many stringent rules and have a compliance management system in place to ensure that they do. Because of these stringent restrictions, Kenyan traders can feel certain that they are dealing with a reliable broker.

👉 GO Markets’ customers’ money is stored in several currency accounts in segregated client trust accounts at top-tier institutions. Since customers’ money is kept apart from the broker’s money in this manner, it can never be used for anything other than business operational expenses.

👉 Before signing up for an account at GO Markets, prospective traders can utilize the firm’s website to acquaint themselves with its rules and processes.

Account Types and Features

GO Markets Review Account Types

👉 Basic trading accounts are available to Kenyans at GO Markets. There is no one-size-fits-all trading strategy for any of these accounts, regardless of whether traders are experienced or total novice.

➡️ Standard Account

➡️ GO+ Account

Live Trading Accounts

Standard Account

GO Markets Review Standard Account

👉 For Kenyan traders, the Standard Account offered by GO Markets provides access to over 350 trading products spread over a wide range of asset classes. Furthermore, there are no fees for Kenyan traders on this account, and over 22 liquidity providers provide cheap spreads.

Account FeatureValue
💰 Minimum Deposit17,000 KES equivalent to AU$200
👥 Access to an Account ManagerYes
💸 Commission ChargesNone
📊 Average SpreadVariable, from 1 pip
✔️ Markets Offered

50+ FX 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

👉 With its industry-lowest spreads, this account is perfect for both high-volume traders and trading bots. The following features are available to traders:

Account FeatureValue
💰 Minimum Deposit17,000 KES 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, 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

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.

 

👉 A practice account can be opened in a matter of minutes, and the procedure is completely automated. Demo trading accounts are available in both MetaTrader 4 and 5 for testing and practice purposes.

 

👉 A risk-free environment is provided for traders to explore the broker’s offerings and try out the trading platforms to make an informed decision on whether GO Markets is the ideal broker.

 

👉 The typical recommendation is that, before deciding to open a real trading account, traders must test out the platform’s unique features and capabilities.

 

👉 MetaTrader 4 and MetaTrader 5 are two of the most popular trading platforms today and can be used for both practice trades and live transactions. When it comes to personalizing their features, both these platforms offer a wide range of tools and charts to choose from.

Account Registration

GO Markets Review Account Registration

👉 Kenyan traders can visit the official website of GO Markets and fill out an application form and complete a trading questionnaire. Kenyan traders must present identification and evidence of their residence address before their application can be finalized by the relevant department and accepted.

👉 According to the details supplied by the trader, their account will be authorized, and Kenyan traders can begin trading once they have deposited the minimum amount.

How to Open An Account

👉 Step 1 – Go to The Official Website

➡️ Go to the official GO Markets website and click on “Open Live Account”. 

GO Markets Review How to Open An Account Step 1

👉 Step 2 – Fill Out Your Details

➡️ Fill out your personal information such as your country of residence, first and last name, email address, and create a password for your account. 

GO Markets Review How to Open An Account Step 2

GO Markets Vs BDSwiss Vs Fidelity Investments – Broker Comparison

GO MarketsBDSwissFidelity Investments
⚖️ RegulationASIC, FSA Seychelles, FSC Mauritius, CySEC

CySEC, FSC, BaFIN, FSAFINRA, SEC
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
• BDSwiss Mobile
• BDSwiss Web
• Active Trader Pro
• Fidelity Mobile
💰 Withdrawal FeeNoYes, <100 EUR withdrawals
No
📊 Demo AccountYesYesYes
📈 Minimum Deposit17,000 KES11,000 KES100 KES
📈 LeverageUp to 1:500Up to 1:10001:1
📊 SpreadFrom 0.0 pipsFrom 0.3 pipsNone
💰 CommissionsFrom US$2.50$2 to $5$0 to $0.03
✴️ Margin Call/Stop-Out80%/50%50%/20%None
✴️ Order ExecutionInstantMarket/InstantNone
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoIn ProgressNo
📈 Account Types• Standard Account
• GO+ Account
• Classic Account
• Premium Account
• VIP Account
• RAW Account
• Brokerage Account
• Cash Management Account
• Brokerage and Cash Management
• The Fidelity Account for Businesses
• Fidelity Go, and several others
⚖️ CMA RegulationNoNoNo
💳 KES DepositsNoNoNo
📊 Kenyan shilling AccountNoNoNo
👥 Customer Service Hours24/524/524/7
📊 Retail Investor Accounts2415
☪️ Islamic AccountNoYesNo
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size250 lots1,000 lots4x maintenance margin excess

Trading Platforms

GO Markets Review Trading Platforms

👉 GO Markets offers traders a choice between MetaTrader 4 and MetaTrader 5, which can be used across several devices and systems.

Desktop Platforms

GO Markets Review Desktop Platforms

➡️ MetaTrader 4 Desktop

➡️ MetaTrader 5 Desktop

👉 Traders throughout the world love MetaTrader 4’s award-winning design. GO Markets, is one of the earliest brokers in Australia to provide MT4, and in addition, GO Markets created MT4 Genesis to help customers perform even better in live trading conditions.

👉 Users of GO Markets’ Mac and Windows trading platforms will find that they have unlimited access to market analysis and expert advisors.

👉 MT5 is the best platform for Forex, Indices, Commodities, and Shares trading, amongst several other financial markets. Fast and efficient control of positions is made possible by advanced order management and charting technologies. Using advanced tools, Kenyan traders can do more in-depth price research and automate a trade.

WebTrader Platforms

GO Markets Review WebTrader Platforms

➡️ MetaTrader 4 Web

➡️ MetaTrader 5 Web

👉 Millions of traders throughout the world have relied on MT4 for years. It is well-known for its user-friendly and intuitive web-based interface, which appeals to a wide range of traders. The benefit of the web-based trading platform is that it perfectly mimics the same features and functionality as the desktop platform.

👉 One of the most versatile web-based platforms on the market now is MetaTrader 5, an upgrade from MetaTrader 4. There are many of the same features and some new ones for automatic trading, copy trading, and detailed price analysis in this new version of MT4.

Trading App

GO Markets Review Trading Platforms

➡️ MetaTrader 4 Mobile

➡️ MetaTrader 5 Mobile

👉 Traders can access GO Markets’ mobile trading platforms through an Android and iPhone compatible MetaTrader app, allowing for rapid and consistent market access. Traders are allowed to trade Forex, indices, commodities, and more using MT4 and MT5 for Mobile.

👉 Kenyans can easily trade at any time, anywhere, using a variety of trading applications thanks to the MT4 for Mobile platform. Additionally, Kenyans can:

➡️ View real-time quotes and trade execution speed

➡️ Execute, manage, and close trades

➡️ Access more than 25 technical indicators

➡️ Use the economic calendar

👉 On-the-go access to the same analytical tools, capabilities, and execution speed as on a desktop. In addition to a depth of market (DOM) and an order and transaction accounting system, the MT5 platform offers a robust trading platform. It supports both typical netting and hedging option order accounting systems.

Range of Markets

GO Markets Review Range of Markets

👉 GO Markets offers the following tradable financial instruments:

➡️ Forex CFDs

➡️ Share CFDs

➡️ Index CFDs

➡️ Metal CFDs

➡️ Commodity CFDs

Broker Comparison for Range of Markets

GO MarketsBDSwissFidelity Investments
➡️️​ ForexYesYesNo
➡️️​ Precious MetalsYesYesNo
➡️️​ ETFsNoNoYes
➡️️​ CFDsYesYesNo
➡️️​ IndicesYesYesNo
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyNoYesNo
➡️️​ OptionsNoNoYes
➡️️​ EnergiesYesYesNo
➡️️​ BondsNoNoYes

Trading and Non-Trading Fees

Spreads

GO Markets Review Spreads

👉 The typical spreads that traders can expect from GO Markets are as follows:

➡️ 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

👉 The Standard Account offers commission-free trading while the GO+ Account features the following commissions according to the base currency options of the account:

➡️ 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

👉 Some typical overnight fees that GO Markets charges on currency pairs are as follows:

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

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

Deposits and Withdrawals

GO Markets Review Deposits And Withdrawals

👉 GO Markets offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Skrill

➡️ Neteller

➡️ Bank Wire Transfer

➡️ Fasapay

How to Deposit Funds with GO Markets

GO Markets Review How to Deposits Funds

👉 To deposit funds Kenyan traders can log into the GO Markets Client Portal and select the option to Deposit. From here, traders can choose their preferred deposit method, enter the amount they want to withdraw and currency, and follow any additional instructions according to the payment provider.

How to Withdraw Funds with GO Markets

GO Markets Review How to Withdraw Funds

👉 To withdraw funds, the trader can log into the Client Portal and select “Withdraw.” Traders can choose their preferred method, enter the withdrawal amount, and select “Confirm.”

👉 Once the relevant GO Markets department has received the withdrawal request, it will be processed within one or two business days.

GO Markets Education and Research

GO Markets Review Education And Research

👉 GO Markets offers the following Educational Materials:

➡️ GO Trade Academy

➡️ Introduction to Forex

➡️ Tutorials – MetaTrader 4 Video Tutorials

👉 GO Markets offers Kenyan traders the following Research and Trading Tools:

➡️ AutoChartist

➡️ MT4 and 5 Genesis

➡️ VPS

➡️ a-Quant

➡️ Social Trading through MyFXBook

➡️ Trading Central

➡️ Daily News

➡️ Weekly Summaries

➡️ Articles

➡️ Economic Calendar

GO Markets Affiliate Program

GO Markets Review Affiliate Program

👉 GO Markets is a forex and CFD broker that has been in business for more than 15 years and is fully licensed. Customers who are recommended to GO Markets may earn market-leading commissions via the affiliate program, allowing Kenyans to maximize potential earnings.

👉 GO Markets has over 80,000 customers and offers knowledgeable help to both clients and affiliates. GO Markets Partners has produced a set of benchmarks for Kenyan partners to use when evaluating their website, social media channel, or blog.

👉 As a reference guide, partners may utilize this complete list to better understand GO Markets’ expectations. Forex and derivatives trading risks are clearly described, as are projections of potential gains and losses.

Verdict on GO Markets

👉 The greatest and most demanding financial regulators in the world supervise GO Markets, making it an extremely safe broker. If GO Markets continues to follow the rules laid down by the ASIC, FSA Seychelles, FSC Mauritius, and CySEC, it can continue calling itself a reputable broker.

 

👉 Segregated accounts and SSL encryption prohibit any kind of hacking from taking place for client money. GO Markets has been recognized as one of the finest brokerages for Kenyans, attributable to its excellent customer service and for being the first to introduce the MT4 platform.

 

👉 This Forex broker is well-known for the wealth of instructional resources it makes available to its customers, as well as the market research and trading tools it offers them. Because there are no fees charged on deposits or withdrawals, non-trading costs at GO Markets are negligible. 

GO Markets Pros and Cons

✔️ Pros❌ Cons
GO Markets is multi-regulated and guarantees client fund securityThere are only two account types provided
There are no deposit or withdrawal fees chargedKES is not listed as a base currency for an account
The account registration is simple and hassle-freeThere are many countries restricted from working with GO Markets
Kenyan traders are welcome and can expect competitive trading conditionsThere is a high minimum deposit requirement
GO Markets offers powerful trading platforms across several devices, providing traders with flexibilityThere is no Islamic Account option for Muslim traders
GO Markets provides convenient funding methods along with fast withdrawals
There is excellent market analysis provided to traders
Advanced traders have access to several useful trading tools

Overall Rating

Min Deposit

USD 200 / 23120 KES

Regulators

ASIC, CySec, FSC, FSA and SCA

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

60

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Frequently Asked Questions

 

Is Go Markets a good legit broker?

Yes, Go Markets is a legit broker who is overseen by the regulatory authorities: ASIC, FSA Seychelles, FSC Mauritius, and CySEC.

Does GO Markets offer leverage and what is the maximum ratio offered?

Yes, GO Markets offers maximum leverage up to 1:500.

What account types does GO Markets offer?

GO Markets offers the following retail investor accounts:

  • Standard Account
  • GO+ Account

What is the overall rating for GO Markets out of 10?

8/10.

Is GO Markets suitable for beginner and professional traders?

Yes, GO Markets is an ideal broker that can be used by beginner and professional traders.

9.5/10 - (2 votes)