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Broker Score | 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 Account | Trading Platforms | Funding Methods | Trading Commission | ||
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USD 100 | Market Maker NDD | Cryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals | 70 | 30 |
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| Read Review | 71.58% | 200:1 | 0.40 pips | Yes | Yes | FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge | Yes | MT4, MT5, cTrader, FxProEdge | Bank Transfer, Mastercard, Visa, Unionpay, Paypal, Neteller, Skrill | 9 USD / lot | ||||||||||
AUD 200 | Market Maker NDD, ECN/DMA | Commodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals, Bonds, Shares | 49 | 10 |
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| Read Review | 62% | 30:1 | 0 pips | Yes | Yes | GoPlus+, Standard | No | MT4, MT5 | Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, POLi | 4 USD / lot |
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.
At FX Scouts Kenya, 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 FxPro, 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.
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 Go Markets holds two Tier 1 and one Tier 2 licences, and FxPro holds two Tier 1 and no Tier 2 licences.
Based on these findings, 0 earned a higher trust rating than 0.
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 FxPro.
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, FxPro offers support for and Go Markets offers support for .
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FxPro and Go Markets offer copy trading.
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 FxPro offers a greater range and depth of instruments to trade than Go Markets. FxPro offers 70 Forex pairs to trade and Go Markets offers 49 Forex pairs to trade.
In this case, FxPro offers 30 cryptocurrencies while Go Markets offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FxPro.
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 FxPro nor Go Markets charges a withdrawal fee. Overall, 0 has better deposit and withdrawal processes than 0.
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.
FxPro and Go Markets both have moderate educational support. Both FxPro and Go Markets offer educational support for more experienced traders.
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 Go Markets offers better research analysis than FxPro and that both FxPro and Go Markets offer frequent webinars.
GO Markets was founded in 2006 and was the first Australian MetaTrader broker. Though it only offers two account options, one with a dealing desk and wider spreads and the other an ECN with tight spreads and commission, both are competitive. Though much of the education section is paywalled for customers only, the content is excellent GO Markets offer full support for MT4 and MT5.
GO Markets really shines with its suite of trading tools including a free VPS service, Autochartist and Trading Central. A technological innovator, GO Markets works hard to keep low-latency trading, reliable customer service and stable platforms at the core of their offering.
One of the most respected Forex brokers in the industry, FxPro is well regulated and has a much larger client base than most other brokers, with over 870 000 clients in 173 countries. FxPro offers a no-dealing desk execution model and trading on six asset classes, including Forex, shares, indices, futures, metals, and energies.
FxPro offers eight live accounts, with industry-average trading costs. Spreads start at 1.20 pips (EUR/USD) on its Metatrader accounts and 0.2 pips on its Raw accounts in exchange for a commission of 7 USD round turn. Additionally, FxPro offers very little in the way of education and market analysis materials, making it a poor choice for beginner traders.
FxPro also offers a number of trading tools, including free access to Trading Central, a number of calculators, and a VPS service at an additional cost, which is in line with what is offered at other brokerages.