Go Markets vs Interactive Broker Compared (2024)

Published :
Written by

Traders consistently seek trusted and reliable trading platforms that suit their trading styles and preferences. Go Markets and Interactive Brokers are top-tier regulated brokers providing online trading services worldwide. Go Markets is known for its social trading and multi-asset platform, regulated in two tier-1 jurisdictions, one tier-2 jurisdictions and two tier-2 jurisdictions including  ASIC, CySEC, DMCC,FSC Mauritius, SVGFSA  On the other hand, Interactive Brokers specializes in online forex trading,  regulated by eight Tier-1 jurisdictions and two Tier-2 jurisdictions  including ASIC,IIROC , MNB,SFC,SEBI,, CBI,,FSA-Japan, MAS,FCA , FINRA,SEC. While these brokers offer similar services, they each have their own strengths and weaknesses.

In this article, I have compared Go Markets and Interactive Brokers in terms of trading platforms, Pros, Cons, regulations, tradable assets, fees, customer support, and overall trading experience score. This analysis aims to help you determine which broker better suits your trading style and preferences.

Go Markets vs Interactive Broker: In a Nutshell

Go Markets

Established in 2006, GO Markets is an experienced and regulated Australian broker. 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.

Go Markets Overview
  • Founded In: 2006
  • Minimum Deposit: $200
  • Maximum Leverage: 500:1
  • Regulations: FSC
  • 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

Interactive Broker

Founded in New York, USA in 1978 by Thomas Peterffy, Interactive Broker has grown into a global brand with over 2.1 million clients. It has become one of the leading online trading solutions for traders, investors, and advisors. The brokers give access to over 5000+ tradable assets including forex, CFDs, warrants, ETFs Options, Futures, Mutual Funds, and Bonds. To trade online, IBKR offers WebTrader, FIX API, MobileTrader (MobileApp), and TWS trading platforms.

Interactive Brokers Overview
  • Founded In: 1978
  • Minimum Deposit: None
  • Maximum Leverage: 500:1
  • Regulations: SEC , CFTC ,FCA, FSCS, ASIC , IIROC , FSA
  • Trading platform: WebTrader, FIX API, MobileTrader
  • Account Types: Family Office Account ,UGMA/UTMA, IRA, Trust ,Joint, Individuals
  • Payment Options: Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), BPAY, Check, Direct Debit, Local Bank Deposits, Transfer from Existing Broker
  • US Traders:  Accepted 

Go Markets vs Interactive Broker: Pros and Cons

Go Markets

Pros
  • 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
Cons
  • 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)

Interactive Broker

Pros
  • IBK is a Forex and Stock Broker 
  • Excellent reputation (founded in 1978)
  • Regulated by top regulators like  ASIC, FCA, FSA, SFC, IIROC 
  • A wide range of products offered warrants, ETFs, Options, Futures, Mutual Funds, Bonds 
  • Over 18,000 no-transaction-fee mutual funds.
  • No monthly inactivity fee
  • Low trading fees and high interest (up to 4.58% for USD) on cash balances
  • Access to international markets and exchanges 
  • Mobile apps are convenient for individual investors.
Cons
  • Complicated account opening 
  • Learning Curve for Beginners
  • The maximum leverage is only 1:40 
  •  No Metatrader platforms (MT4, MT5) offered 
  • High minimum deposit requirements for some account types 
  • Interactive Advisors (Robo-advisor feature) is only available for US customers
  • No fixed spread is available 

Go Markets vs Interactive Broker: Side-by-Side Comparison

Go Markets
Interactive Broker
Product
Founded In
Founded In
2006
1978
Founded By
Founded By
Chris Gore
Chairman Thomas Peterffy
Headquarters
Headquarters
Melbourne, Australia
Greenwich, Connecticut, United States
Regulations
Regulations
ASIC, CySEC, FSA, FSC
SEC , CFTC ,FCA, FSCS
Min Deposit
Min Deposit
$200
None
Max Leverage
Max Leverage
500:1
40:1
Tradable Assets
Tradable Assets
Forex, Commodity, Share, Index, Metal, Cryptocurrency, Treasury, ETF CFDs Trading
Stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds
Fees
Fees
As low as 1.0 pips or A$3.00 commission per side on standard lot
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, Ctrader , Webtrader ,Mobile Trading Platforms
WebTrader, FIX API, MobileTrader
US Traders
US Traders
Not Allowed
Allowed

Go Markets Vs Interactive Broker: Our Scores and Ratings

We rated both brokers, Go Markets and Interactive Broker, 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 :

9
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)9.5
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)9
Trading Education (5%)9

Interactive Broker

9.1
Interactive Brokers Score
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

Both Go Markets and Interactive Brokers are regulated online trading platforms in the industry, offering services to traders and investors. However, there are some differences between them. Go Markets is a multi-asset and social trading platform, providing trading instruments, including forex,commodities,metal,indices,shares,cryptocurrencies,ETFs. It offers both leverage and non-leverage tradable assets. On the other hand, Interactive Brokers is a forex and CFD broker offers Stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds.

Our score for Go Markets is 9.0, and for Interactive Brokers, it is 9.1 (based on our research; a score above 8 is considered safe and trustworthy). If you are seeking a social trading platform where you can copy other successful traders and have a one-stop solution for various types of trading, you may choose Go Markets. However, if you prefer online forex and CFD brokers, you may choose Interactive Brokers.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

Leave a Comment