Roboforex operates multiple entities and its headquarters is in Cyprus. It is so popular and gained the recognition of the brand name for its advanced trading conditions for scalping, day trading, and long-term trading styles.
If they violate any regulatory rules their regulated status can be stripped. RoboForex is a New Zealand based broker that provides individual and business trading services. They are a well-regulated broker that offers ECN accounts with super tight spreads and deep liquidity.
Cent and Standard users can also benefit from the 60% Profit Share Bonus, as well as up to 120% on deposits by claiming the Classic Bonus. For experienced clients looking for an alternative to MetaTrader, the cTrader terminal is a sensible option.
Yet, check carefully since some of the methods apply an additional fee for withdrawal, e.g. Skrill and AdvCash add on 1% processing fee, while Visa withdrawal adds 2.6% +1.3USD. 0 pips and commission charge as a cost, e.g. you will pay via ECN account 20USD to million traded for GBPUSD pair or similar. in order to suit the different needs and requirements of their clients, also you may can use a national currency as your account base currency, which includes USD, EUR, RUB, CNY, GOLD, BTC and simplifies your funding. There are numerous rules which broke implements due to regulatory requirements to deliver protected and fair trading environment, also regularly audited, while the company can be fined in case of the breach or mislead. That is RoboForex applies the STP technology through a bridge connected to a liquidity provider.
Traders can register a new account on the official RoboForex site or through the mobile apps once its downloaded from the Google Play Store or Apple’s App Store. On the site, traders simply need to look for the bright green “Open an Account” tab to start the registration process. This will take traders to a new page that will only ask for basic personal information, including email address, first name, last name, and mobile phone number. RoboForex has been providing its services for over a decade and continue to offer the best functionality and products within the online trading industry. This is especially true when you take a look at their awards cabinet, boasting with several prestigious awards since its inception. Robo Forex offers five trading accounts, including Real, Demo, Partner, Copy FX, and Contest. Social trading features are a recent addition to the brokerage world.
The deposits are processed instantly, while the withdrawal may take 1 to 10 days. RoboForex deposit and withdrawal process is fairly easy and offers a wide range of options, including bank transfers, credit cards, e-wallets, cryptocurrencies, and cash vouchers. CTrader is a great choice for professional and experienced traders as it provides a clean design and excellent charting tools with a great execution speed. It brings in the STP access to the Forex market along with 52 technical indicators and level 2 pricing. You also get to build the flexibility of position management and building your trading robots. In addition to the desktop-based application, CTrader is also available for ISO and Android platforms.
One of the red flags for a trader is when he sees the high commissions that his potential broker charges on trades. This is what drew me in to RoboForex, they only charge $2.45 per lot in ECN-Pro NDD accounts and they charge nothing at all for all the other trading accounts. Traders can start off with as little as a $10 deposit, a huge pro for beginners looking to ease into trading. The company’s video tutorials are quite helpful and RoboForex offers low variable and fixed spreads. The trading platform is selected during the account opening process and the option to switch between the platforms is not available at the moment. However, the easiest way to use multiple platforms is to open an additional account with RoboForex.
Roboforex Reviews And User Ratings
This review found that the main differences between the accounts are the minimum margin requirements, leverage limits, margin call/stop-out levels, and access to bonuses. All bonuses are available with the Pro accounts, whilst no bonuses are available with the R Trader account. The ECN and Prime accounts are ideal for professional traders looking for RoboForex Review spreads from zero pips, whilst the R Trader account supports multi-asset stock trading. Pro-Cent and Pro-Standard accounts are designed for beginners and casual traders. RoboForex currently does not offer any no deposit bonus deals in 2021 but has previously offered weekly demo contests, so traders should check the website for upcoming promotions.
An economic calendar, forecast, charting tool, calculator and economic indicator are also available for more seasoned traders. The broker is transparent about minimum deposits and fees, and they offer a demo account for those who want to practice investing. RoboForex ECN account type provides you the direct access to the market participants via interbank trading prices with just a minimum deposit requirement of $10. The ECN account has the highest execution speed and offers a tight spread to the professional traders.
Roboforex Review 2020 Trusted Forex Broker Review 2020 ..
The registration process and the account opening in RoboForex are fairly simple and in total there are available 5 types of trading accounts. The main difference between them is the offered asset classes for trading, different minimum deposits, variable leverage, and some more. Multi-asset web-based trading platform with the fastest in the industry financial charts and advanced technical analysis tools. ReviewForex lists forex brokers, binary options and other platforms for users to rate. Overall, RoboForex offers a nice selection trading accounts, has good support, and offers a nice range of educational materials, making it a solid choice for traders at any level. Making a deposit or withdrawal request with RoboForex is one of the easiest processes. You can simply do that from your member area by click on the appropriate links.
Pricing depends on the account you choose but spreads are fairly competitive vs brokers such as FBS and FXTM. Fees for the Pro-Cent and Pro-Standard accounts are included in the spreads, which average around 1.4 pips for EURUSD, 1.75 for US indices, and around 22 for XAUUSD . As we already mentioned in our RoboForex review, there are multiple platforms you can pick from.
In addition to the MT4 and MT4 ECN account is also available with CTrader which is known for the great execution speed. With an ECN account, you can trade forex analytics 36 currency pairs and nearly all other products offered by RoboForex. The Prime account is geared towards more experienced and advanced traders.
Just choose your favorite payment method from the provided list by the broker, set the amount you want to deposit, insert password or security codes, and you’re done. The fund is instantly credited to your trading account without making any unnecessary delay. The broker has bought ECN and Pro-Cent account for making short-term trading more convenient with tighter spreads and faster execution of trades. Traders who require assistance may contact the customer support team in multiple options.
This broker allows Expert Advisor Automated forex trading on their metatrader4 and metatrader5 trading platforms. You can open a real-money trading account from the RoboForex homepage and start trading in live markets. RoboForex economic calendarThe most notable feature is the RoboForex Analytics centre, a free subscription to analytical data and trading instruments from within one window. Available in 13 languages, and offering an interactive data layout, users can gain access to signals, videos, calendars, and tools for traders.
RoboForex clients are also protected under the Compensation Fund, which secures deposits of up to 20,000 Euros. The trading schedule on several instruments will be changed due to Memorial Day in the USA and the Late May Bank Holiday in the United Kingdom.
In this case, the spreads are lower but you’ll be charged a $15 commission against each lot traded. If you’re trading with an ECN account, you’ll experience a completely different cost package than a standard account. Here you can read Retail foreign exchange trading which might be suitable for you to trade.
Users can access rare types of orders, Level II pricing, plus 54 technical indicators on 14 timeframes and 9 types of charts. You can also create trading robots and indicators using cTrader Automate. The client terminal at RoboForex will allow traders to send and create orders to execute their trading transactions in lightning fast speeds.
- RoboForex has earned a good reputation over the years with 3 million live accounts opened since inception.
- The National Bank of the Republic of Belarus is the central bank of Belarus, located in the capital city, Minsk.
- FxWirePro™ is a leading analytical company, which provides the participants of financial markets with research reports in the real-time mode.
- it will convert to a live account of first grade – Pro-standard or Pro-cent.
- „Prime” accounts combine all best features of ECN accounts and are suitable for advanced traders.
- You should not trade or invest unless you fully understand the true extent of your exposure to the risk of loss.
One of the things that made me start an account with RoboForex was their promise of not charging any commission at all from any trades with the account I chose. As it turns out, in exchange for not charging any commission they tend to widen the forex spread on the instruments you trade on. I guess that’s a fair exchange from time to time so I there’s nothing to complain about. RoboForex is a multi-asset broker and provides nearly financial instruments, which are its biggest advantage.
Besides the trading tools, they also provide tutorial articles describing how to apply them for the better benefits out of live-trading. For beginners, they’ve launched a course named “How to Start Trading on Financial Markets” that covers basic knowledge about market movements, trading psychology, and techniques. For verifying your ID, you may use your passport, national ID, or driving license and for address verification, a copy of your recent utility bill or bank statement are the ideal options. Verification is important because it lifts the limits of your deposits/withdrawals and lets you get the full access to the RoboForex trading facilities. These spreads may look comparatively higher than many other brokers but since they’re not charging any extra fees other than spreads, it looks alright from our point of view. Remaining only with your phone on the go you still can check over your positions or see market updated via mobile version suitable for any mobile device and available for free. it will convert to a live account of first grade – Pro-standard or Pro-cent.
The Learning Curve With Roboforex
Our in-depth review of RoboForex will help you to understand the broker thoroughly and will help you to assess if it is the right trading home for you or not. strategy builder and trading ideas, and that is together with very powerful features you will find in provided platforms. Indeed, both offers full control over positions and orders, featuring the same functionality with the fastest in industry charts and advanced analysis tools, also designed with a clear and clean view.