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RoboMarkets Review

RoboMarkets Review

 

 

Overall Rating

4.7/5

Rated #58 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

35

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

RoboMarkets is an online forex broker based which forms part of the holding company RoboForex Group, which is licensed to trade both in Cyprus and Belize.

In early 2013, the broker obtained regulatory status in Cyprus under its RoboForex (CY) Ltd entity as a Cypriot Investment Firm and is passported throughout other European Union (EU) member states.

RoboMarkets differentiates itself as primarily a MetaTrader broker offering a suite of platforms developed by MetaQuotes Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

RoboMarkets was first established in 2012, and received the license of a European broker in 2013, as already noted. RoboMarkets is regulated by the CySEC, license No. 191/13.

The Company has grown rapidly in recent years and now provides professional services for institutional and retail clients from Europe.

RoboMarkets is a multi-asset broker offering 8 asset types and more than 12,000 instruments for trading.

Apart from this, the broker’s clients have access to professional trading platforms and cutting-edge proprietary technologies. Furthermore, RoboMarkets Multilingual Customer support is available 24/7.

 

Awards and Recognition

RoboMarkets has consistently focused on creating favorable trading conditions for its clients and partners since the time of its inception.

As a result, the broker has been recognized repeatedly by the professional community, reflecting the efficiency of the broker’s development vector. Some of these awards include the following:

  • Best Global Stocks Broker (2020)
  • Safest European Broker, London Trader Awards (2020)
  • Best Trading Execution, Professional Trader Awards (2019)
  • Best Client Service Forex, Europe (2019)
  • Best MT5 Broker, UK Forex Awards (2020)

 

RoboMarkets Accounts

It is important for prospective traders to make an effective study of the various account types which a broker may offer, as often these accounts are designed to suit the specific needs of certain trader experience levels and strategies.

The forex industry is populated by a vast array of traders with various trading needs, which most brokers aim to meet through the provision of suitable accounts. These may include commission-free accounts, low spread accounts, and managed accounts.

On the other hand, some brokers will offer one standard account type which aims to target a certain group of clientele.

Traders should also seek out brokers which offer a free demo account, as this will allow them to conduct a test run of the broker’s features before deciding to sign up for a live trading account.

 

Types of Accounts and their Features

RoboMarkets offers five types of trading accounts, consisting of the Prime, ECN, R Trader, Pro-Cent, and Pro-Standard Accounts.

 

Prime Account

The Prime Account includes the best trading conditions available at RoboMarkets (similar to liquidity providers), which are intended for experienced traders.

  • Trading instruments: 28 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies
  • Minimum deposit: 100 USD / 100 EUR / 100 GBP
  • Spread: Floating from 0 points
  • Account currency: USD, EUR, CHF, GBP, GOLD
  • Leverage: Determined during the registration on the basis of your experience and knowledge

 

ECN Account

The main distinctive features of ECN accounts are very low spreads, and these accounts are intended for professional traders, who prefer “advanced” trading conditions.

  • Trading instruments: 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies
  • Minimum deposit: 100 USD / 100 EUR / 100 GBP
  • Spread: Floating from 0 points
  • Account currency: USD, EUR, CHF, GBP, GOLD
  • Leverage: Determined during the registration on the basis of your experience and knowledge

 

R Trader

A unique account for trading through a multi-asset web platform, R Trader is for experienced traders, who want access to all major financial markets from a single account.

R Trader is a new generation platform, which combines classic design, easiness-to-use, advanced technologies, and access to the largest global financial markets.

  • Trading instruments: More than 12,000: Indices, Cryptocurrencies, Real stocks, CFD on stocks, Forex and ETF, CFDs on Oil, CFDs on Metals
  • Minimum deposit: 100 USD / 100 EUR / 100 GBP
  • Spread: Floating from 0 points
  • Account currency: USD / EUR / CHF / GBP / CZK
  • Leverage: Up to 1:30 on forex

 

Pro Cent Account

This account type uses cents as the base currency (EU Cent, US Cent, etc.), allowing traders to test new trading strategies with small deposits.

  • Trading instruments: 36 currency pairs, Metals, Cryptocurrencies
  • Minimum deposit: 100 USD / 100 EUR / 100 GBP
  • Spread: Floating from 1.3 points
  • Account currency: USD, EUR, CHF, GBP, GOLD
  • Leverage: Determined during registration on the basis of your experience and knowledge

 

Pro Standard Account

This is the most popular account type at RoboMarkets, which is suitable for traders with different experiences in the currency market.

  • Trading instruments: 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies
  • Minimum deposit: 100 USD / 100 EUR / 100 GBP
  • Spread: Floating from 1.3 points
  • Account currency: USD, EUR, CHF, GBP, GOLD
  • Leverage: Determined during registration on the basis of your experience and knowledge

 

Overall Rating

4.7/5

Rated #58 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

35

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Deposits and Withdrawals

RoboMarkets offers a range of payment methods consisting of a variety of bank payments, E-wallets, and credit or debit cards.

RoboMarkets does not charge for deposits. While some part of the amount you deposit to your trading account is charged by the payment system as a commission, during the application processing, it is fully compensated and transferred to your trading account.

You won’t experience any delays or inconveniences: both your payment and commission bonus will be deposited at the same time.

In payment history, you can see all deposits that you made along with corresponding compensation amounts. RoboMarkets applies no restrictions on how to use or withdraw this money

RoboMarkets also offers traders the opportunity to withdraw funds from their trading accounts without paying any commissions on the first and the third Tuesday of each calendar month. The validity period of the program is unlimited.

Within the framework of the program, a client has an opportunity to withdraw funds from their Members Area twice a month without paying any commissions.

 

The client can also register for a RoboMarkets Wallet, which comes with the following features and benefits:

  • Trading results management
    Accumulate your profits in the Wallet to withdraw them at a time.
  • Risk management
    Separate the funds you want to be involved in trading from those that are not intended for investments.
  • Money transfer management
    Transfer funds from your Wallet to your trading account instantly whenever the trading situation requires it.

 

Cost and Fees, Commissions and Spreads

RoboMarkets’ commissions and fees vary depending on the type of account opened (the Pro Standard, Prime, ECN-Pro, and Pro-Cent accounts).

The Prime account offers an average of 0.3 pip spreads on the EUR/USD, and a commission of US Dollar 2 per standard lot (US Dollar 4 round turn), bringing the all-in cost to roughly 0.7 pips.

The Pro-Standard account has no commission but higher costs on the EUR/USD, with an average spread at 1.6 pips.

The Pro-Cent has similar features as the Pro-Standard, except the micro contract size (1,000 units) allows for “cent” pip values when trading.

The broker also offers a VIP account for active traders who qualify as professional clients in the EU, where rebates are given based on the amount of volume traded.

 

Leverage

As an EU-regulated broker which falls under the auspices of the Cypress Securities and Exchange Commission (CySEC), RoboMarkets is authorized to offer a maximum leverage of 1:30.

This is because EU and UK regulators recently made the decision to cap the maximum leverage which brokers operating within their jurisdiction could offer, due to the high-risk potential of the mechanism.

 

Bonuses

RoboMarkets offers bonuses to its professional clients who trade with the Pro-Cent or Pro-Standard accounts.

 

Classic Bonus

Professional traders can receive a Classic bonus of up to 120% with the total amount of bonuses going up to 50,000 USD.

 

Pro Share Bonus

With the Pro Share Bonus, professional traders can receive an additional 60% of their deposited amount.

The Bonus can be used during “drawdown” and allows you to distribute losses between your own and bonus funds.

The profit that you received when trading with your own funds is available for withdrawal at any moment.

for your first and all other deposits that follow

 

Trading Platforms, Software, and its Features

RoboMarkets offers three types of trading platforms, consisting of MetaTrader 4, MetaTrader 5, and R Trader.

 

MetaTrader 4

Recognized as the most popular platform with retail traders, MetaTrader 4 offers a user-friendly interface, all instruments necessary for trading, and a wide range of analytical opportunities. Features of MetaTrader 4 include:

  • 3 types of order execution
  • 50 embedded indicators for technical analysis
  • 3 types of interactive charts
  • Opportunity to create and use trading robots

 

MetaTrader 5

MetaTrader 5 is a modern trading terminal that is able to meet traders’ constantly increasing needs and requirements.

It combines advanced technologies of order execution and distributed computations, thus providing an excellent opportunity for implementing the most ambitious trading ideas.

This terminal is a perfect solution for traders who value speed and reliability while working with trading robots. Further features and benefits include:

  • 4 types of order execution
  • Multi-threading tester
  • Market depth
  • 6 types of pending orders

 

R Trader

R Trader is a brand-new trading platform on the market which performs as a powerful desktop platform.

Users have access to advanced charting capabilities, over 12,000 instruments, automated strategies, and much more. Further features and benefits include:

  • Easy‑to‑use, Flexible, Responsive
  • Access to global markets in one single terminal
  • The minimum deposit is 100 USD
  • Stocks Leverage is up to 1:20

 

Markets, Products, and Instruments

RoboMarkets provides access to a wide range of asset classes, including forex, stocks, indices, and cryptocurrencies.

With regards to forex, clients can trade more than 35 currency pairs, including EUR/USD, USD/JPY, GBP/USD, and EUR/GBP, using tight spreads from 0 pips.

 

 

Safety and Regulation

RoboMarkets Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), license No. 191/13.

CySEC (Cyprus Securities and Exchange Commission) is a financial regulator of the Republic of Cyprus established in 2001 with “The Cyprus Securities and Exchange Commission” law enactment.

The purpose of CySEC is to provide the licensing, regulation, and control of brokers, brokerage companies, dealing centers, and operations carried out on the stock and currency exchange.

This highly regarded regulatory body also oversees the development and implementation of regulations and laws that make the financial market of Cyprus more reliable and transparent.

As such, RoboMarkets operates under highly regulated conditions and is therefore able to offer all of its clients a safe and secure trading environment.

 

Customer Support

RoboMarkets offers excellent customer support which is available 24/7. This multilingual support includes English, German, Portuguese, Spanish, Czech, Estonian, and Latvian.

The support team is available through a live chat option for more pressing queries, as well as an email address or direct phone support.

 

Research

RoboMarkets offers a comprehensive selection of research tools, including Forex Analysis and Forecasts, an Analytics Centre, and an Economic Calendar.

Forex Analysis and Forecasts

These forecasts consist of a wide range of pertinent topics, including market overviews, fundamental analysis, math lines and forecasts, and Fibonacci retracements analysis.

Analytics Centre

The Analytics Centre provides access to all analytics materials and trading instruments in one place. The Centre is a free subscription exclusively available to RoboMarkets clients and has an unlimited subscription period.

All you have to do it to add the service to the bookmarks of your browser or download a portable application to your device.

Economic Calendar

The Economic calendar is a convenient forex tool that helps traders efficiently analyze the market situation and make efficient decisions based on the information they get. The Financial calendar shows important data on upcoming events in the global economy.

The Economic news calendar from RoboMarkets includes key events and highlights of the financial world.

These include up-to-date reports provided by companies, the latest unemployment, and inflation readings, prices indices and financial indicators, dates and times of speeches and reports delivered by representatives of global regulators, and other useful information.

 

Education and Training

RoboMarkets also offers excellent education resources, consisting of webinars, educational videos, and a comprehensive FAQ section.

Webinars

The RoboMarkets Analytics department staff along with external experts of financial markets hold educational and analytical online events for a broad audience of traders.

These webinars are dedicated to a lot of different topics, such as test-driving of EAs, stock market reviews, technical analysis, and the latest and most important events of the financial industry.

Educational Videos

RoboMarkets has prepared an excellent Forex training program, which is available in the Analytics Centre. These video tutorials will be specifically useful to beginner traders because they:

Cover basics of trading on the Forex market.

Teach technical and fundamental analysis.

Teach take clients into trading psychology and risk management methods.

All you have to do to get access to these free education video tutorials is to log in to your Members Area and join the Forex education program in the “Education” section of RoboMarkets Analytics Centre.

FAQ Section

The FAQ section answers a range of pertinent questions related to forex trading, including trade flows, point cost calculations, and order execution.

 

Conclusion

All in all, RoboMarkets provides an excellent trading environment for a wide range of traders, from beginner to advanced. RoboMarkets is highly regulated under the auspices of the Cypress Securities and Exchange Commission so that clients are guaranteed a safe and secure trading environment on the often volatile forex markets.

 

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Disclaimer

Risk Warning: The Company also offers CFD products which are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with GCI Trading.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptocurrencies are complex, high-risk, and volatile and may result in the loss of all invested capital over a short period of time; they are not appropriate for all investors.

Investors must understand and acknowledge these specific characteristics and risks and be warned that there is no EU regulatory framework governing trading in cryptocurrency products.

CFDs and Forex are not only complex instruments, but they also have a high level of risk which may result in loss of funds that exceed the trader’s initial deposit.

Traders need to evaluate their objective, level of risk exposure and willingness to be exposed to risks.

 

RoboMarkets at a Glance

Broker’s name RoboMarkets
Headquarters Cyprus
Year founded 2012
Regulating authorities Cypress Securities and Exchange Commission (CySEC)
Countries not accepted for trade All countries outside of EU/EEA countries
Demo account Yes
Islamic account (swap-free) No
Institutional accounts No
Managed accounts No
Maximum leverage 1:30
Minimum deposit US Dollar 100
Deposit options Bank wire

Credit/Debit Card

E-Wallets

Withdrawal options Bank wire

Credit/Debit Card

E-Wallets

Platform(s) provided MetaTrader 4

MetaTrader 5

R Trader

OS compatibility Mac, Microsoft Windows, Mobile, Web, iPhone
Tradable assets Forex, stocks, indices, and cryptocurrencies.
Languages supported on the website English, German, Portuguese, Spanish, Czech, Estonian, and Latvian
Customer support languages English, German, Portuguese, Spanish, Czech, Estonian, and Latvian
Customer service hours 24 hours, 7 days a week

 

Overall Rating

4.7/5

Rated #58 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

35

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with RoboMarkets?

RoboMarkets provides access to a wide range of asset classes, including forex, stocks, indices, and cryptocurrencies.

With regards to forex, clients can trade more than 35 currency pairs, including EUR/USD, USD/JPY, GBP/USD, and EUR/GBP, using tight spreads from 0 pips.

 

Which platforms are supported by RoboMarkets?

RoboMarkets provides the following popular trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • R Trader

 

Does RoboMarkets offer leverage?

Yes, RoboMarkets offers maximum leverage of 1:30

 

What spreads can I expect with RoboMarkets?

RoboMarkets offers variable spreads depending on the account type.

 

Does RoboMarkets charge commission?

Yes, and this commission structure depends on the account type

 

Is RoboMarkets regulated?

Yes, RoboMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC)

 

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

Yes, RoboMarkets offers an excellent trading environment for novice and advanced traders

 

What is the overall rating out of 10 for RoboMarkets?

9/10

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

 

Does RoboMarkets offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with RoboMarkets?

Yes

 

Which live trading accounts does RoboMarkets offer?

  • Prime
  • ECN
  • R Trader
  • Pro-Cent
  • Pro-Standard

 

What are the available deposit currencies for a live trading account?

USD / EUR / CHF / GBP / CZK

 

Deposits and Withdrawals

 

What is the minimum deposit for RoboMarkets?

US Dollar 100

 

How do you make a deposit and withdrawal with RoboMarkets?

RoboMarkets offers the following deposit and withdrawal methods:

  • Bank wire
  • Credit/Debit Card
  • E-Wallets

 

The same method that was used to fund an account must usually be used to withdraw money again and monies will only be refunded to accounts that carry the same name as the trading account with RoboMarkets.

 

Does RoboMarkets charge withdrawal fees?

RoboMarkets also offers traders the opportunity to withdraw funds from their trading accounts without paying any commissions on the first and the third Tuesday of each calendar month. The validity period of the program is unlimited.

 

How long does it take to make a withdrawal?

Withdrawals can take up to five business days when made through a bank wire transfer, depending on your residence, while E-Wallets are typically processed on the same day.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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