RoboMarkets Forex Broker Review

RoboMarkets is an online forex and CFD brokerage founded in 2012.

RoboMarkets Ltd is a part of the RoboMarkets Group Holding – an investment group of companies with its Head Office in Cyprus.

This broker’s website bears a lot of similarities with the Robo Forex even though some reviewers claim this broker was formerly known as Roboforex. But they are different companies who work concurrently in several ways although they offer slightly altered services.

robomarkets forex broker review

 

The broker primarily offers a MetaTrader broker offering the suite of platforms developed by MetaQuotes Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the firm offers cTrader – developed by SpotWare Systems, and the Amstel web platform branded as Trader.

 

RoboMakets Forex Broker Trading Platforms

RoboMarket Forex Broker offers three trading platforms:

MetaTrader4 – this is a prominent platform that has earned superiority in the forex market.
The platform is mostly desired by traders because of its user-friendly interface, a variation of financial instruments to trade and the opportunities it presents.

But the major advantages of trading with this platform include:

  • It authorizes 3 types of order execution
  • It has 3 types of interactive charts
  • It has the proficiency to generate and employ trading robots
  • It has 50 indicators for purposes of analysis

MetaTrader 5 – this is alleged to be the most decent platform in the market because it is a refined trading platform – technology-wise.
And this has given rise to the possibility of meeting the thriving desires and demands of the traders.

It offers dependability and speed, as well as the best trading experience.

Some other benefits of trading with this platform are that the market has:

  • Market Depth
  • 4 types of order executions
  • Multi-threading tester
  • 6 types of pending orders

Multi-asset platform R Trader – this platform gives the trader ability and influence over the waves of forex.

The R Trader platform is fresh to the block and it has been competent enough to earn itself some decent prominence.

  • The extras that come with trading with this platform are:
  • It permits the trader to have improved charting capacities
  • Traders can develop automatic trading techniques
  • It is responsive, simple to use and flexible.
  • It gives accessibility to the global market through jus 1 terminal
  • The stocks leverage up to 1:20

 

Wha RoboMarkets Forex Broker Says It Offers

RoboMarkets offers a competitive trading condition with reasonable spreads and leverages along with the incredibly responsive support and the vast range of tradable instruments.

It offers great trading platforms as well as five distinct accounts suitable for traders at all levels.

 

RoboMarkets Forex Broker Account Types

RoboMarkets offers 6 types of trading accounts.

These 6 of them have been designed to meet the various needs of the various RoboMarkets forex traders.

The 6 account types are listed below:

Pro-Standard – this account type is specifically built for trained traders and it is distinguished by a strong competitive trading setting with excellent quality.

Also, commissions do not occur leading to the minimization of cost.

Characteristics of the Pro-Standard trading account:

  • Floating spread
  • Market execution mode
  • 5-digit quotes

Pro-Cent – this account type is tailored for beginners and mostly for amateur traders who are more interested in trading micro-lots.
It is greatly satisfactory for beginners that need to make minimum investments to get the chance to test the broker’s trading conditions.

The characteristics of this account are:

  • Floating spread.
  • If a trader trades on the MetaTrader4 platform, the order volume varies from 0.001 lots (0.1 cent lots).
  • In a MetaTrader5 platform, the order volume is from 0.0001 lots (0.01 cents lots).
  • Marketing execution mode.
  • Floating spreads.
  • 5-digit quote.

ECN-Pro NDD – this trading account has been developed for the expert traders.
These traders hold the tendency to lower spreads, speedy order execution and the nicest types of executions present across all kinds of accounts at the company.

The features of trading with this account are:

  • 5-digit quotes
  • Floating spreads
  • Market Execution Mode
  • NDD (Non-Dealing Desk)

Prime – this trading account is best for traders who prefer forward-looking features.
The account gives comparable trading conditions as those of liquidity providers, fast execution of transactions and a brand new MT4 server.

The components of this trading account include:

  • Market execution mode
  • Floating spreads
  • 5-digit quotes
  • NDD (Non-Dealing Desk)

Demo account – this account is specifically designed for individuals who are completely new to forex trading.

The Demo accounts offer an opportunity to experiment with the trade before working on a real account.

The characteristics of a demo account include:

  • No funds are invested
  • Customized competent advisors
  • Trading on demo accounts is the same as doing it in real accounts.

The R Trader account – This broker offers an additional trading account known as the R Trader account.
It is slightly different and it focuses more on stocks than on trading.

This account is designed for traders who search out for traditional trading experiences.

It compels a minimum deposit of $100 and has commissions added to each trade.

The trading costs of these account types are broken down below:

Both the Pro-Cent account and the Pro-Standard account use a spread based system.

The ECN-Pro NDD account has an added commission of $20 per million traded, while the Prime account has a commission of $15 per million traded.

Seap/exchange fees are also current and these are either charged when a trade is being held overnight.,
These fees can be seen either on the RoboMarkets website or within the trading platform a trader has chosen.

 

RoboMarkets Forex  Broker Deposit Methods and Costs

This broker comes with 20 various deposit methods that are considered as an investor can easily do on that suits their needs.

There are no extra fees from Robo Markets, nevertheless, a trader needs to confirm that they review with the processor that they are using to make sure they do not incur any fees of their own.

The current deposit methods are as follows:

Bank Payments:

  • BlueOrange Bank
  • Barclays Bank PLC
  • Deutsche Handelsbank
  • Fast Bank Transfer iDEAL
  • Sofort
  • Rapid Transfer
  • Trustly
  • Nordea Solo
  • Multibanco
  • GiroPay
  • Przelewy24
  • Bank Transfer.

Electronic Payments:

  • WebMoney
  • Skrill
  • Fasapay
  • Neteller
  • QIWI Wallet
  • Boleto

Bank Cards:

  • Visa Credit and Debit
  • MasterCard Credit

 

Withdrawal Methods and Costs

Only 8 of the 20 deposit methods are usable to withdraw with and fees are attached to these withdrawal methods.

  • Rapid Transfer – 1%
  • Bank Transfer – 25 USD, 10 EUR, 20 GBP, 150 PLN, 75 CHF
  • WebMoney – 0.8%
  • Skrill – 1%
  • FasaPay – 0.5% (minimum $0.1, maximum $5)
  • Neteller – 1.9% (minimum $1)
  • QIWI Wallet – 0%
  • Visa / MasterCard – 2.4%

Initial minimum deposit

The minimum amount of the first deposit that is expected for Cent, Standard, ECN and R Trader accounts is 100 USD / 100 EUR / 100 GBP respectively.

For Prime accounts, the minimum deposit an investor can make is 5,000 USD. The successive deposits have no constraints.

Spread

The lowest spread starts from 0 pips.

 

Is RoboMarkets Forex Broker Licensed?

RoboMarkets is regulated by CySEC with license number 191/13, and they comply with the severe regulatory laws.
They safeguard client funds through discerned accounts and are reasonable in their client offering and marketing techniques to traders.

They are also registered as an investment company in 29 European countries.

 

Conclusion

RoboMarkets offer an active and rich feature service and they appear like an eligible broker.

They have every detail a potential trader would need to be provided and they offer trading accounts for traders with all trading experiences.

We recommend this broker if you’re looking for a broker to invest in.

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