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Plus500 vs Go Markets - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsPublished: October 21, 2020
EditorEditor: Chris CammackUpdated: November 15, 2023

Last Updated On November 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Risk Statement
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
11110.54.09/ 5
79% of retail CFD accounts lose money
GBP 100
FCA Regulated Forex Brokers
CySEC Regulated Brokers
ASIC Regulated Brokers
Monetary Authority of Singapore
Financial Markets Authority of New Zealand
Market Maker
Commodities
Cryptocurrencies
Stock CFDs
ETFs
Forex
Indices
70
18
  • Well regulated
  • Wide range of assets
  • Limited education
  • Limited account options
111115/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
79%
30:1
0 pips
Standard
Plus500
Bank Transfer
Visa
Mastercard
Skrill
Paypal
Fees Included in Spread
11110.54.54/ 5
62% of retail CFD accounts lose money
GBP 200
ASIC Regulated Brokers
CySEC Regulated Brokers
Market Maker NDD
ECN/DMA
Commodities
Cryptocurrencies
Stock CFDs
Forex
Indices
Metals
Bonds
Shares
49
10
  • Fast and free withdrawals
  • Wide range of assets
  • Excellent market analysis
  • Innovative trading tools
  • High minimum deposit
  • No swap-free account option
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
111115/ 5
111104/ 5
62%
500:1
0 pips
GoPlus+
Standard
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Fasapay
BPay
POLi
4 USD / lot

How do Go Markets and Plus500 stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

Go Markets

Plus500

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Go Markets and Plus500, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Go Markets or Plus500 have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Plus500 holds four Tier 1 and one Tier 2 licences, and Go Markets holds two Tier 1 and no Tier 2 licences.

 

Is Plus500 financially regulated?

Yes Plus500 was founded in 2008 and is regulated by ASIC, CySEC, FCA, FMA and MAS.

 

Is Go Markets financially regulated?

Yes Go Markets was founded in 2006 and is regulated by ASIC and CySEC.

 

Based on these findings, Plus500 earned a higher trust rating than Go Markets.

Does Go Markets or Plus500 have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Go Markets has overall lower trading costs than Plus500. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Plus500
111003/ 5
USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGD
0.80 pips
USD 8
0.80 pips
0 pips
0 pips
USD 0
Go Markets
11110.54.5/ 5
AUD, USD, GBP, EUR, NZD, SGD, CAD, CHF, HKD, PLN
0.00 pips
USD 4
0.00 pips
0.00 pips
0.00 pips
USD 4

 

Does Go Markets or Plus500 offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Go Markets offers support for and Plus500 offers support for . 

Do the brokers offer copy trading?

In this case both Go Markets and Plus500 offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Plus500
111104/ 5
Plus500
Go Markets
11110.54.5/ 5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Plus500 offers a greater range and depth of instruments to trade than Go Markets. Plus500 offers 70 Forex pairs to trade and Go Markets offers 49 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Plus500 offers 18 cryptocurrencies while Go Markets offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Plus500.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Go Markets nor Plus500 charges a withdrawal fee. Overall, Go Markets has better deposit and withdrawal processes than Plus500. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

Go Markets has better educational support than Plus500. Both Go Markets and Plus500 offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Plus500
Go Markets

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that 0 offers better research analysis than 0 and that both Go Markets and Plus500 offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Plus500
Go Markets

 

Our overall Verdict on Go Markets

A well-regulated broker, GO Markets will appeal to traders looking for a simple account structure and a broad range of trading tools on the MT4 and MT5 platforms. 

GO markets offers trading on multiple CFDs, including Forex, share CFDs, indices, metals, and commodities and traders can choose between two accounts, both with competitive trading costs. The commission-free Standard Account has spreads that start at 1.0 pips (EUR/USD), while the GO Plus+ ECN Account offers spreads of 0 pips in exchange for a commission of 6 USD (round turn). Both accounts have a reasonable minimum deposit of 200 AUD, making them accessible to beginner traders. 

With full support for MT4 and MT5, GO Markets also provides an extensive suite of trading tools. These include a free VPS service, Autochartist, Metatrader Genesis, Trading Central, a-Quant, and the Myfxbook copy-trading service. Most of these tools are available for free to live account-holders. Traders will also appreciate the fact that no extra fees are charged for deposits, withdrawals, or on inactive accounts. 

Overall, GO Markets is a dependable, straight-forward broker that ticks all the boxes.

Our overall Verdict on Plus500

A trustworthy CFD provider with regulation from eight national authorities and a listing on the London Stock Exchange, Plus500 is a good choice for traders looking for a simple account structure, reasonable trading fees, a wide range of tradable assets, and a well-designed mobile trading app.

Plus500 only offers one trading account, but its trading costs are low compared to many brokers, with spreads starting at 0.8 pips* on the EUR/USD and a minimum deposit of 100 GBP. Most traders will also be satisfied with the number of financial assets available, including over 70 Forex pairs and 1900 share CFDs.Unlike other CFD providers that provide support for a variety of trading platforms – such as MT4, MT5, or cTrader – Plus500 only offers support for its own in-house platform. However, the platform is sleek and well-designed. Available as a mobile app or on the web with no need for any downloads, the platform is equipped with a number of useful risk management tools.

We were disappointed that Plus500’s education and market analysis materials are virtually non-existent, but its award-winning customer service is available 24/7, which is exceptional for an industry where the norm is 24/5.

*spreads correct as of 09:00, 21/06/2022

Which broker has the highest overall rating?

Go Markets has an overall rating of 4.54 and Plus500 has an overall rating of 4.09. For more detail please read our reviews of Go Markets and Plus500.

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