RoboForex (RoboMarkets in Europe ) is a broker offering online forex trading since 2009. Roboforex’s investors are predominantly from countries like Russia and Ukraine. I can say that it serves mostly Asian countries.
If you look at the official website of RoboForex already, you can see that RoboForex is sponsoring Muay Thai fighter Andrei Kulebin. In Asia, I can say that the awareness of RoboMarkets is increasing in this way. However, RoboMarkets, which is located under the same parent company, serves mostly in European countries.
I can say that RoboForex has so many investors that it is not underestimated. The company’s official website has more than 600,000 visits per month. It can compete with many forex companies in this regard.
At the same time, a large number of forex competitions are being organized by RoboForex. Thanks to these competitions, investors can try new strategies and make profits without any risk. In addition to all these, RoboForex is often mentioned with its bonus and promotions.
Is RoboForex or Robo Markets a reliable broker or scam? What are the account types offered by RoboForex and the spreads of these account types and the Robomarkets order types? What are the deposit and withdrawal methods offered by RoboForex? If you are considering opening an account with RoboForex, do not decide until you have read this RoboForex review!
Regulation
Regulation & Client Protection
Roboforex regulation is one of the main topics to discuss especially before getting into more details since regulation is the main pillar that builds the broker’s name in the market from the ground up since everything else depends on it. This section in the Robomarkets review will explain the regulation and licenses held by Robomarkets.
Two different watchdogs are auditing Robomarkets forex which are:
- FSC of Beliz under the number 000138/333.
- The Financial Commission (FCA)
Generally, a regulation makes sure to provide safety to the funds of traders in addition to making sure these funds are segregated from the funds of Robomarkets and kept in high-profile banks around the world.
Some regulatory organizations even have a compensation scheme set in place and in the case of Roboforex regulation, that already is set via the compensation fund provided by the FCA where it represents a service included with Financial Commission membership which provides protection up to €20,000 per case should a Member refuse to adhere to a judgment from the Financial Commission.
Robomarkets forex regularly undergoes quality auditing reviews of order execution on the Verify My Trade service, a partner of the Financial Commission that provides for objective evaluation of how brokers execute trade orders. Successful completion of this procedure confirms Robomarkets‘ compliance with the strict requirements of the Financial Commission to its members.
Account Types and Spreads
Account Types & Spreads
This section of the Robomarkets review is where I will break down the different Robomarkets account types in addition to the trading condition in each account to help you make the right decision for the right account. There are 5 different Robomarkets account types offered via the broker that I will be reviewing via this Robomarkets review.
The Robomarkets account types are all as follows:
The Prime account: the minimum deposit for the prime account amount of all other Robomarkets account types is €10/$10 and then the Robomarkets spread type is floating and they range as low as 0.0 pips. The maximum leverage offered on the Prime account is 1:300 with 28 currency pairs offered for trading with this account type. Different trading instruments are offered for trading too like Metals, CFD on US stocks, CFD on Indices, CFD on Oil, and Cryptocurrencies. The prime account can be used on MT4, MT5, Webtrader, IOS and Android. The prime account is more suitable for currency and other types of markets.
The ECN account: The second account from among the Robomarkets account types is the ECN account. The same minimum deposit is offered here as well which is $10/€10. Robomarkets spread in the ECN account is also the floating type of 0.0 pips. The maximum presented leverage here is 1:500. A loyalty bonus is allowed yet the deposit bonus isn’t available for this account type. 36 currency pairs are offered here which is more that the amount offered at the prime account. In addition, the ECN account can be traded on MT4, MT5, cTrader, Webtrader, IOS and Android. experienced traders tend to prefer this account more than others due to the characteristics offered via the ECN account.
The R StocksTrader account: This account type seems to be more suitable for stock trading than other Robomarkets account types and it offers a minimum deposit of $100 and a Robomarkets spread of $0.01. Maximum leverage of 1:300. Neither the loyalty bonus nor the deposit bonus is allowed on this Robomarkets account type. More than 12.000 trading instruments are offered including Indices, Real stocks, CFD on stocks, Forex and ETF, CFDs on Oil, CFDs on Metals, CFDs on Brazil Stocks, and Cryptocurrencies. The R StocksTrader account is available on Webtrader, IOS and Android.
The ProCent account: the account type that is preferred by the algorithmic traders since the account can and is used for testing strategies and EAs better than other Robomarkets account types. It can be used on MT4, MT5, Webtrader, IOS and Android in addition to the presence of 36 currency pairs to be traded with. Yet the trading instruments offered by this account type are a bit limited to only include Forex, Metals, and Cryptocurrencies. The minimum deposit offered here is $10/€10 whereas the Robomarkets spread is floating and reaches 1.3 pips. The highest leverage that is offered on the ProCent account is 1:2000 which is the highest amount offered on any account type. Deposit and loyalty bonuses are both offered and available on this account.
The Pro account: available on MT4, MT5, cTrader, Webtrader, IOS and Android, the Pro account seems to be the most preferred account type with forex and CFD trading beginners among the other Robomarkets account types since the account helps to “flow into” real currency and CFD trading quickly. With $10/€10 as the minimum deposit offered and floating spreads of 1.3 pips. The maximum leverage offered is 1:2000 with all types of bonuses available, i.e the deposit and the loyalty bonuses. The trading tools presented are 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, and Cryptocurrencies.
All Robomarkets account types, except for the pro and the pro cent accounts, are not available for the deposit bonuses.
All Robomarkets account types have the option to be traded within the demo format of the accounts, which allows for a risk-free environment to try out the account and the offered conditions without risking any funds, The demo accounts also give the chance for the beginner and the expert traders to test out knowledge and trading techniques before real application on the real accounts.
A swap-free Islamic account is available to be obtained when trading with the cent and the standard MT4 Robomarkets account types. In order to open a swap-free account you open a swap-free account on Mt4 and then send an application to customer support requesting such an account. The swap-free accounts are more suitable for Islamic believers and traders from Islamic countries.
Trading Instruments
Trading Instruments
Robomarkets forex presents distinct types of trading instruments and tools since they represent a great advantage for traders as they can use them for hedging and for risk diversification. This Robomarkets overview will explain the trading tools you can use in your trading account with Roboforex.
These instruments include:
Forex: with tight spreads that can reach 0 pips and high spreads to reach a maximum of 1:2000, you can trade different types of forex pairs with Robomarkets forex reaching 40 pairs to include majors, minors and exotic pairs.
Stocks: with more than 12.000 trading stocks to choose from, you can even have maximum leverage offered on stock trading to reach 1:20. Stocks of the major companies from all over the world like Apple, Google, Netflix, Amazon and more are included in that list.
Indices: with fast order execution and a micro lot as the trading volume, Dow Jones, SPX, NASDAQ, TSX and more are examples of the presented indices for trade.
Cryptocurrencies: with over 33 cryptos including Bitcoin, Binance Coin, Solana, Stellar, Ethereum, Ripple and more, you can trade any time of the day all days per week since the cryptocurrency markets is a decentralized and virtualized, it’s easier to choose the required time to trade.
ETFs: More than 1,000 different ETFs are available for trading. Leverage of a maximum of 1:20 is offered and a minimum deposit of $100 and the spreads presented are starting from 0 pips. Shares like FITS (The Health and Fitness ETF), SPY (SPDR S&P 500 ETF), USMV (USA Min Volatility MSCI Ishares) and more are offered for trading.
Commodities: Soft commodities like agricultural products including cocoa, coffee, corn, wheat, sugar, soybean, and fruit are present. A maximum leverage offered of 1:20 and a minimum deposit for trading soft commodities to reach $100. You can trade commodities on the R StocksTrader account type.
Metals: gold, palladium, platinum, and silver are examples of the available metals for trade. Where they’re known to be the safe haven for forex and CFDs trades since they can be used for hedging and the possibility to trade on the rise and fall of process in the market without paying for owning the metal. With low spreads and a minimum deposit of $10, you can start trading precious metals as you wish.
Energies: heating oil, oil, natural gas, and ethanol are presented with 1:100 maximum leverage and high speed of execution. Traders who prefer intraday trading find energy trading to be the most suitable.
Trading Platforms
Trading Platforms
Throughout this Robomarkets review and via the section of Robomarkets account types, I’ve reviewed the account types and them, including the types of platforms the broker is offering which include MT4, MT5, cTrader, and the Webtrader.
MetaTrader 4 is the most preferred and popular trading platform in the forex markets. Where it provides features and tools that are necessary for both beginners and experienced traders of the financial market. some of these functions are:
- Opportunity to program your own trading robot
- Fundamental analysis of news and signals in your terminal
- 50 ready-to-use indicators for technical analysis
- Algorithmic trading
- 3 types of order execution
- Basic tools for graphic analysis
- One-click trading
The 2nd most famous, and also provided by Robomarkets forex is the MT5. Where it offers more advanced options and choices for trading that wasn’t available in the MT4, that’s why analysts consider the MT5 to be the next-gen of platforms in the forex market.
The functions of the MT5 platform include:
- 6 types of pending orders
- flexible trading system
- Netting and hedging systems, Market Depth, and segregation of orders and transactions
- Market depth
- Virtual hosting
- Algorithmic trading using MQL5
- 4 types of Robomarkets order types execution
- 1.500 expert advisors and technical indicators
- Multi-currency tester
CTrader is a platform that experienced traders find to be more suitable since it contains order execution speed and unconventional instruments to implement their trading strategies which are all characteristics preferred by professional traders.
Some of the functions that can be found in the cTrader platform are:
- You can have your own robots and indicators
- Level 2 Pricing
- 9 types of interactive charts
- 14 timeframes
- Customizable list of instruments
- 54 technical indicators
- “Pinpoint” position management
- Available in 22 languages
MT4, MT5 and cTrader are available on different outlets such as a mobile application that can work on both IOS and Android, in addition to the option to have the MT4, MT5 and cTrader on the Webtrader where you can have an access to your account from any browser anytime and anywhere.
Web platform R StocksTrader is another platform offered by Robomarkets forex in which it combines cutting-edge technologies and a classic design taken to a completely new level.
Some of the features of the R StocksTraderplatform are:
- Trading robots builder
- Level 2 Market Depth and Time and Sales
- More than 12,000 instruments
- Corporate actions support like track splits, merges, get dividend payments and more.
- Netting
- Hedging
- One-Click Trading
- The platform is faster and provides more accurate results
Conclusion
Conclusion
Via this Robomarkets review, I’ve shown all the details embedded in the Robomarkets forex platform. The broker is providing very appealing terms to trade and suitable where the maximum leverage offered is 1:2000 and floating Robomarkets spread that can be as low as 0 pips.
Robomarkets account types are indeed variable and the options of choices they offer to the clients are tremendous and really dependable for all different types of traders.
The trading instruments are very satisfactory with lavish diversity in order to meet all the needs of the clients as they trade in multiple aspects of the market.
Roboforex regulation is confirmed via the FSC of Beliz and FCA, where a compensation scheme is set in place where it makes sure that not only the clients’ funds are protected and segregated but also they’re safe against any financial crisis in the market or within the broker’s organization.
Different and variable trading platforms are offered which include the most famous and favourite platforms in the market MT4, MT5 in addition to cTrader, Webtrader and R StocksTraderplatform.
