Forex traders always look for trading with brokers that suit their trading needs and preferences. Go Markets and EagleFX are online forex brokers that offer their trading services to traders and investors. Go Markets is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions, one tier-2 jurisdictions and two tier-2 jurisdictions On the other hand, EagleFX is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by Go Markets and EagleFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
Go Markets
Established in 2006 in Melbourne, Australia, Go Markets is a forex and CFD broker that offers online trading services globally. It gives traders access to trade more than 1,000 forex and CFDs on its MT4, MT5, and cTrader platforms. The broker’s GO Plus+ account comes with raw spreads and low commissions which is great for pro traders. Autochartist, Trading Central, free VPS, MetaTrader Genesis, market news, and analysis are provided. To learn more, you can read our review about Go Markets.
Go Markets Overview
- Founded In: 2006
- Founder: Chris Gore
- Headquarters: Melbourne, Australia
- Minimum Deposit: $200
- Maximum Leverage: 500:1
- Regulations: FSC, Asic, CySEC, DMCC
- Trading platform: MT4, MT5, Ctrader , Webtrader ,Mobile Trading Platforms
- Account Types: Standard, Go Plus Account
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, FasaPay, Neteller, PayTrust88, Poli, Skrill, XPAY
- US Traders: Not Accept
EagleFX
Founded in 2020, EagleFX is a forex and CFD broker offering online trading services globally. It is an unregulated offshore forex and CFD broker that operates without regulatory oversight. The broker offers over 200 forex and CFD instruments through the MT4 platform and allows various trading strategies, including scalping, hedging, and news trading.
EagleFX provides access to institutional-grade liquidity through partnerships with multiple liquidity providers. This setup helps traders access tight spreads and competitive pricing. The broker uses a Straight Through Processing (STP) model, ensuring trades are executed without a dealing desk, re-quotes, or price manipulation. Orders are aggregated and matched with the best available rates in fractions of a second.
EagleFX allows crypto deposits and withdrawals without extra fees. It offers 24/7 customer support through live chat, email, and phone. However, traders should understand the risks of using an offshore broker without investor protection.
- Founded In: 2019
- Minimum Deposit: $10
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4 , Webtrader
- Account Types:
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin
- US Traders: Currently Not Accepted. However, Old traders can still trade.
Go Markets vs: EagleFX Features
Go Markets
- Trading Instruments: 1000+ trading instruments including Forex, Commodities, Metals, Indices, Shares, Cryptocurrencies, Treasuries, ETFs
- Maximum Leverage: The maximum leverage of Go Markets is as high as 500:1. However, leverage may vary based on jurisdiction and tradable assets. For example, the maximum leverage of Asic and Cysec jurisdiction is 30:1
- Account Type: Two ( Go Plus Account, Standard Account
- Minimum Deposit: The minimum deposit is $200
- Trading Fees: Spreads start from 0.8 pips on standard account or $2.50 commission per lot per side.
- PAMM/ MAM: PAMM is available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
EagleFX
- Trading Instruments: 100+ instruments including Forex, commodities, stocks, indices, futures, and cryptocurrencies
- Trading Platforms: Mt4, Webtrader
- Minimum Deposit: $10(BTC), $50 Credit or Debit card, Bank wire transfer,
- Maximum Leverage: 1:500
- Trading Fees: Commission $6 round turn per lot. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Credit/Debit Card and Wire Transfer
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 70%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Applicable For: Applicable to traders of all jurisdictions.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
Go Markets vs EagleFX: Pros and Cons
Go Markets Pros & Cons
- Regulated by ASIC, CySEC, FSC Mauritius, SVGFSA, FSA-S, DMCC
- The maximum leverage is as high as 1:500
- Allows Scalping, News trading, and EA/Robot trading.
- Easy and Fast Account Opening
- Offers web trading, mobile trading, ECN trading
- No inactivity Fees
- Low trading fees on all account types.
- Tight Spreads starting from 0.0 pips
- Not regulated by FCA UK
- The Minimum deposit is $200
- No investor protection for non-EU clients
- No Paypal, Crypto Deposit
- Only two types of account ( Standard, Go Plus account)
EagleFX Pros & Cons
- The maximum leverage is as high as 1:500
- The minimum deposit is as low as $10
- Scalping Hedging, News trading, and the use of trading robots are allowed
- Speedy STP trade executions in less than a second.
- Over 150 trading instruments can be traded on the platforms.
- Offers free demo accounts
- The round-turn commission is $6, which is low and competitive compared to others.
- Zero Fees on Deposit and Withdrawal
- Offers Crypto CFD Trading
- The broker is not regulated
- No investor protection scheme for traders
- No managed accounts, social trading, or any provision for investors.
- Limited Deposit and Withdrawal Options
- Ctrader, Zulutrade, and Tradingview are not available
- There are no educational resources
Go Markets vs EagleFX: Side-by-Side Comparison
Go Markets Vs EagleFX: Our Scores and Ratings
We rated both brokers, Go Markets and EagleFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
Go Markets :
EagleFX
Final Verdict :
Both Go Markets and EagleFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Go Markets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including ASIC, CySEC, DMCC, FSC Mauritius, and SVGFSA. On the other hand, EagleFX is an unregulated offshore forex broker. Go Markets provides Multiple trading platforms including MT4, MT5, MetaTrader copy trader,cTrader,cTrader copy trading, Mobile trading platforms, and GO WebTrader. On the Contrary, EagleFx offers MT4.
As Go Markets is not licensed in the USA, it cannot accept US clients. On the other hand, being an unregulated offshore forex broker, EagleFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for Go Markets, while US traders looking for offshore forex brokers may consider EagleFX. Trading with offshore forex brokers is risky and not recommended.
