RoboForex Fees and Spreads

 

A RoboForex fees and spreads Review

 

RoboForex Fees and Spreads

 

RoboForex fees spreads and commissions start from $15 with variable spreads from 0.0 pips.

RoboForex has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which starts from 0.0 pips along with commissions of $15 charged per 1 million USD of trading volume when using the Prime Account.

 

RoboForex trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:

  • Pro-Standard Account – minimum deposit of $10, variable spreads from 1.3 pips, zero commissions and leverage up to 1:1000.
  • ECN-Pro Account – minimum deposit of $10, variable spreads from 0.0 pips, commissions of $20 charged per 1 million USD of trading volume, leverage of 1:300.
  • Prime Account – minimum deposit of $5,000, variable spreads from 0.0 pips, commissions of $15 per 1 million USD of trading volume, leverage of 1:100.
  • Pro-Cent Account – minimum deposit of $10, variable spreads from 1.3 pips, zero commission fees and leverage up to 1:1000. The difference between this account and the Standard account is that it uses cents, rather than dollars.
  • R Trader Account – minimum deposit of $100, variable spreads from $0.01 pips, minimum commissions of $1.5 charged and leverage up to 1:200.

 

The minimum deposit that RoboForex requires to open an account is $10 which is lower than what most other brokers who offer similar trading conditions offer.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

RoboForex offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law.

RoboForex does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

RoboForex does not charge any deposit fees but withdrawal fees are applied to some payment methods, such as:

  • Credit/Debit Cards (VISA, MasterCard and JCB) – 2.6% plus $1.3 or €1
  • Bank Transfer (SEPA) – 1.5%
  • Local Bank Transfer – up to 4%
  • China UnionPay – 1.8%
  • WebMoney – 0.8%
  • Skrill – 1%
  • Neteller – 1.9%
  • Perfect Money and Fasapay – 0.5%
  • AdvCash – 1%
  • Money – 2.8%, and
  • ecoPayz – $2 or €1

 

RoboForex does not waive any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      Withdrawal fees charged on some payment methods
2.      Low minimum initial deposit amount
3.      Fixed commissions on trades
4.      Deposit fees are not charged

 

FAQ

 

How many instruments can I trade with RoboForex?

You can trade the following instruments:

  • Forex
  • Commodities
  • Cryptocurrency
  • CFDs on stocks, shares and indices
  • Metals and energies, and
  • ETFs

 

Which platforms are supported by RoboForex?

RoboForex provides the following popular trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • R Trader, and
  • cTrader

 

Does RoboForex offer leverage?

Yes.

Traders have access to leverage from 1:100 to 1:1000 depending on the account.

 

What spreads can I expect with RoboForex?

Spreads from as little as 0.0 pips.

 

Does RoboForex charge commission?

Yes.

Commissions are charged according to the type of account the trader has varying between $1.5 on the R Trader Account, $15 on the Prime Account, and $20 on the ECN-Pro Account.

 

Is RoboForex regulated?

Yes, RoboForex is regulated by the highly reputed CySEC in Cyprus and the IFSC in Belize.

 

Is RoboForex a recommended forex trading broker for experts and beginners?

Yes, RoboForex is suitable for both beginner and expert traders.

 

What is the overall rating out of 10 for RoboForex?

9/10