Oanda vs Go Markets: Compare Pros, Cons and More (2024)

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Oanda and Go Markets are Forex and CFD brokers offering online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. Oanda is regulated by three tier-1, two tier-2, and two tier-4 jurisdictions, including the FCA, ASIC, CySEC, DFSA, CMA, and SCB. On the other hand, Go Markets is regulated by two tier-1 jurisdictions, one tier-2 jurisdictions and two tier-2 jurisdictions including  ASIC, CySEC, DMCC,FSC Mauritius, SVGFSA. These two brokers offer almost similar services. However, each broker has its own strengths and weaknesses.


In this article, we will compare Oanda with Go Markets regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if Oanda is better than Go Markets and vice versa. This comparison lets you understand which broker is better for your trading style and preferences.

Oanda vs Go Markets: In a Nutshell

Oanda

Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3,000 forex pairs, CFDs, and even real stocks. The broker is regulated by top regulatory authorities including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, and FSC in BVI. Oanda offers multiple trading platforms such as MT4, MT5, the fxTrade app, and TradingView. Oanda is also known for its currency transfer services as well as its MarketPlus trading analytics. To learn more, you can read our review on Oanda, where we cover features, pros, cons, and more

Oanda Overview

Oanda Overview
  • Founded In: 1996
  • Founder:  Dr. Stumm (a computer scientist), and Dr. Olsen (an economist)
  • Headquarters: New York, United States
  • Trading Instruments: 100+ trading Instruments including forex, indices, shares, commodities, metals, cryptocurrencies, metals
  • Minimum Deposit: No minimum Deposit is required. You may deposit as low as $1
  • Maximum Leverage: 1:50 (US), 1:30 (EU), 1:200 (other regions)
  • Regulations: ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
  • Trading platform: MT4, MT5, fxTrade app, Tradingview
  • Account Types: Standard, Elitetrader
  • Trading Fees: Spreads starting from 0.6 pips (EUR/USD pair)
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
  • US Traders:  Accepted 

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

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

Oanda vs : Go Markets Features

Oanda:

  • Trading Instruments: CFD trading is not allowed for US clients; however, non-US clients can trade CFDs
  • Maximum leverage: The maximum leverage of Oanda is 1:200 (global), 1:50 (US), 1:30 (EU)
  • Minimum Deposit: No Minimum Deposit. 
  • Account Types: Two (Standard, Elitetrader) 
  • Trading Fees:  Spreads range from 0.1 to 0.6, and commissions range from 3.5 to 4 per lot (depending on account type).
  • PAMM/ MAM:  
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

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

Oanda vs Go Markets: Pros and Cons

Oanda

Pros
  • Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
  • Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
  • Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
  • Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
  • Customer support is provided in multiple languages and via different channels.
  • Fast and user-friendly account opening
  • The TradingView platform is available, alongside several VPS services for MT4 hosting.
Cons
  • Bank withdrawals incur a fee which is transferred to the trader.
  • Premium core accounts require a minimum balance of $20,000
  • Inactivity fees are charged from dormant accounts.
  • No account protection for U.S. clients
  • No guaranteed stop-losses for U.S. or U.K. clients
  • Traders in the U.S. cannot access single-stock CFDs
  • No cent accounts, bonus programme for beginner traders

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)

Oanda vs Go Markets: Side-by-Side Comparison

Oanda
Go Markets
Product
Founded In
Founded In
1996
2006
Founded By
Founded By
Dr. Michael Stumm & Dr. Richard Olsen
Chris Gore
Headquarters
Headquarters
New York, New York, United States
Melbourne, Australia
Regulations
Regulations
ASIC, CFTC, FCA,PFSA,MAS, FSA
FSC
Min Deposit
Min Deposit
None
$200
Max Leverage
Max Leverage
500:1
500:1
Tradable Assets
Tradable Assets
Forex, Indices , Metals , Shares, Commodities, Cryptocurrencies
Forex, Commodity, Share, Index, Metal, Cryptocurrency, Treasury, ETF CFDs Trading
Fees
Fees
Spread from 0.8 pips
Spread from 0.8 pips, commissions $2.50/round lot
Platforms and Tools
Platforms and Tools
MT4, MT5, fxTrade app
MT4, MT5, Ctrader , Webtrader ,Mobile Trading Platforms
US Traders
US Traders
Allowed
Not Allowed

Oanda Vs Go Markets: Our Scores and Ratings

We rated both brokers, Oanda and Go Markets, 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.

Oanda :

8.8
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)7
Trading (15%)8
Trading tools (10%)9
Customer Support (10%)9.2
Trading Education (5%)7

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

Oanda vs Go Markets: Which One is better?

Now the question comes: is Oanda better than Go Markets, or vice versa? The answer depends on traders’ and investors’ trading styles and preferences. Both Oanda and Go Markets offer similar trading services worldwide. However, there are differences in their features,  regulations, reputation, and operations. Here are the key facts about both brokers. By reviewing these options, you can clearly understand which broker is right for your trading goals

Oanda :

  • Top regulated forex broker accepting both US and non-US clients.
  • No minimum deposit is required; you may deposit as little as $1.
  • The maximum leverage for Oanda is 1:200 (global), 1:50 (US), and 1:30 (EU).
  • Oanda offers a variety of trading tools and platforms, including MT4, MT5, Webtrader, TradingView, and more.
  • Trading fees: Spreads range from 0.1 to 0.6, and commissions range from $3.50 to $4 per lot. Spreads and commissions depend on your account type and the types of tradable assets.
  • Oanda does not offer CFDs to US clients due to regulatory restrictions. 

Go Markets:

  • Forex and CFD Brokers regulated by ASIC, CySEC, FSC in Mauritius, FSA in Seychelles, FSA in SVG
  • Minimum Deposit: No minimum deposit is required. However, Go Markets recommends having at least $200 to ensure to have enough margin to trade. 
  • Maximum leverage 1:30 (for retail clients), 1:400 (for professional accounts)
  • Offers  MT4, MT5, Ctrader, Webtrader, Copy trading, Webtrader, PAMM, and Premium trading tools like Trading Central, VPS, Genesis, Autochartist  
  • The trading fee: spreads starting from 0.8pips for the standard account, or a commission of $5 per standard lot for the Go Plus account
  • Go Markets does not accept US clients. 

Our score for Oanda is 8.8, and for Go Markets it is 9.

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.

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