RoboMarkets began to serve the European Union trading population in 2012. With more than 12,000 different assets, it has one of the widest ranges of any broker.
RoboMarkets is based in Limassol, Cyprus, and has EU regulation through CySEC with license number 191/13. They are also registered as an investment firm in 29 European countries.
RoboMarkets Deutschland GmbH received a license from BaFin with license number 154068. Gottfried Korzuch is the CEO of RoboMarkets Deutschland.
During our research, we checked out RoboMarkets by navigating to their website and trading platform for mobile devices. Metatrader 4, Metatrader 5, and R StocksTrader are the three systems that can be used. Since we already knew how to use MT4 and MT5, we chose to give R StocksTrader a try.
How far its technology had advanced and how well it could trade both impressed us. When we tried out different features, they all worked well without any problems.
RoboMarkets seems to be good for traders of all levels, from beginners to experts, because it has a wide range of assets and strong trading tools. In the following sections of this review, we'll go into more information about the broker, which will help you determine if they're a good fit for your own trading needs.
RoboMarkets was designed to comply with investment rules in the European Union, so only people residing in the EU can use it. RoboMarkets Ltd has a license from the Cyprus Securities and Exchange Commission. This license, number 191/13, shows that RoboMarkets Ltd follows EU regulations. RoboMarkets Deutschland GmbH also has a license from BaFin (license number 154068), which is another sign that it follows the rules.
RoboMarkets is also a member of the Investors Compensation Fund, which gives clients' funds even more safety in case the broker goes bankrupt. The broker is also listed as an investment firm in 29 countries in Europe.
People from all over Europe can use the website and search in their own language because it is available in 13 languages.
There are six different accounts available from RoboMarkets, each with its own particular features. Here’s a closer look at the similarities and differences.
Prime accounts are different from the above-mentioned account types in several ways. First of all, there is a $100 minimum deposit for this account type. It also adds CHF as one of the allowed base currencies.
In terms of trading, it offers access to 28 different currency pairs as well as metals, CFDs on U.S. stocks, global indices, and oil. It is also an ECN account, so spreads begin at 0 pips, but there is also a commission of $10 per $1 million (currencies) traded. The minimum trade is 0.01 lots, while the maximum trade is 50 lots.
This ECN account has many similarities to the STP-based Pro account. The tradable assets are the same, as are the deposit minimum and the use of MT4 and MT5 as trading platforms.
The primary difference is that spreads begin at 0 pips, but there is a commission added for trades. That commission is $20 per $1 million (currencies) traded. The minimum order size for the account is 0.01 lots, while the maximum order size is 50 lots.
The R StocksTrader account gives access to more than 12,000 assets, with a definite focus on the world of stocks. It’s best for traders who are looking for increased trading opportunities. The minimum deposit for the account is still a very reasonable $100, and this account also works on commissions, with spreads beginning at 0 pips.
The ProCent account is quite similar to the Pro account, but rather than working in dollar increments, it works in cents. That makes it quite suitable for new traders just getting started or for experienced traders who wish to test new strategies on a real-money platform without putting much at risk.
There is a minimum deposit of $100, and the same assets are available as with the Pro account, with the exception of CFDs. Spreads remain at 1.3 pips, with a minimum trade size of 0.1 lots and a maximum trade size of 500 lots. The account can use the MT4 and MT5 trading platforms.
This is the basic account from the broker, and it requires a $100 minimum deposit. It allows for several different base currencies, including EUR, USD, GBP, CHF, and gold. With this account, it is possible to trade 36 different currency pairs as well as CFDs on U.S. stocks and global indices and a CFD on oil.
Spreads begin at 1.3 pips, and there are no additional commissions on this STP account. Clients can choose from MT4 or MT5 as their trading platform. The minimum trade size is 0.01 lots, while the maximum trade size is 100 lots. Leverage is offered based on the experience level of the trader.
ISK, or Investment Savings Account, is a special account on R StocksTrader designed for Swedish traders. It simplifies the trading of US stocks and ETFs, with a minimum deposit requirement of 500 USD.
The account features floating spreads, a leverage of 1:1, no position limits, and the option to trade without swaps. Commission rates vary based on the deposit amounts. Additionally, free fund withdrawals are available.
RoboMarkets has demo accounts for all of its platforms and account types except the ECN and ProCent, so users can try out their favorite choices. This makes sure that anyone can try out their preferred account and platform without risking real money. Opening a demo account takes only 1 minute.
For more information about their account types, visit here.
Depending on the type of account they choose, clients will have different costs. The minimum spread for the Pro and ProCent accounts is 1.3 pips, but there are no service fees. On the other hand, the remaining account types have spreads that start at 0 pips, but they have to pay a fee of either €20 or €10 per €1 million (currencies) traded.
The broker acts as the market maker for the ProCents account and makes revenue when buyers lose. For all other accounts, however, a liquidity source is used. The liquidity provider gives RoboMarkets a part of the spread and a small commission.
Traders need to be aware of both the borrowing costs for leveraged positions from online brokers in Europe and the swap rates for overnight positions. Also, any steps taken by the company, like dividends, are passed on to client accounts.
At RoboMarkets, there are no fees for deposits, but there may be fees for withdrawals, depending on the way chosen. These fees are not the same as any fees that the bank might charge.
Most institutions charge fees for bank transfers that range from €35 to €40. It's important to know that bank transfers can take up to 5 business days to handle, both for deposits and withdrawals.
Only Visa and Mastercard can be used to take money from a credit card. There is a fee of 2.4%, and the process of withdrawal can take up to 10 working days. However, payments made with a credit or debit card are free and can be used to trade right away.
RoboMarkets takes a number of electronic payment methods, and the fees to withdraw money range from 0.8% to 1.9% for each. Taking money out of a mobile wallet can take anywhere from one minute to one day.
RoboMarkets offers a number of platforms, such as MetaTrader 4, MetaTrader 5, and their own R StocksTrader program. EU buyers can't use cTrader, which is a shame. With its many add-ons, Metatrader 4 is often used for technical charting and automatic trading. Metatrader 5 doesn't work with MT4 and doesn't let you use hedging techniques.
The R StocksTrader website gives access to a wide range of assets, which makes it a good choice for stock traders. It also has a robot builder that can be used to test automated tactics. There are mobile versions of R StocksTrader for both Android and iOS devices, making it easy to trade on the go.
Access to news and analytics
One-click trades and order management
Multiple language support
Customer support from within the app
13 different indicators
9 graphic analysis tools
Users who choose MT4 or MT5 will be happy to know that these platforms also have mobile versions that can be used on both Android and iOS devices. Even though they may not be used very often, these mobile apps can be useful for keeping up with market news, handling portfolios, trading at key times, or even doing basic price action analysis.
For more information about their trading platforms, visit here.
Depending on the type of account you choose, you can trade a wide range of goods. Traders should use the R StocksTrader account and website to get the most access to a wide range of assets.
The R StocksTrader account gives you access to a wide range of assets, including markets, real stocks, CFDs on stocks, forex pairs, and ETFs. It is especially helpful for people who want a wide range of stocks.
On the other hand, the other account gives you access to 36 currency pairs, metals, CFDs on US stocks, CFDs on global indices, and CFDs on crude oil. The Prime account has fewer choices and requires a deposit of at least $5,000. You can only trade in 28 currency pairs, metals, CFDs on US stocks, and global indices.
For more information about their markets, visit here.
There are four kinds of orders that traders can choose from limit orders, market orders, stop loss orders, and delayed stop orders. Traders can change or cancel these orders before they are carried out.
Each trading platform has built-in alerts and notifications that let clients know when their alert conditions have been met. Price alerts, alerts for technical indicators, and alerts for economic news are all part of these messages.
Traders have full control over the alerts and can decide exactly what will cause them to go off. They can also choose to get alerts by email or text message, which is a nice extra.
Even though the firm doesn't have specific tools for managing risk, it does have a number of features that can be used as part of a good risk management plan. Stop and trailing stop orders are important because they protect traders from big losses or giving up gains in a market.
Notifications and alerts are also a way to handle risks in a different way. Overall, this broker's services give clients a lot of ways to reduce risks in a smart way.
RoboMarkets gives its customers access to a wide range of powerful trading tools. Notably, the R StocksTrader Strategy Builder lets you trade automatically even if you don't know how to code.
A Forex calculator and detailed charts help with technical analysis and figuring out whether a move will make money or not.
The site has articles about forex analysis, signals from technical indicator signals, and short video reviews of major currency pairs.
An economic calendar gives traders all the information they need about the market, including important data and signs.
RoboMarkets also has pages that explain "How to Trade Forex" and "How to Trade Stocks." Some of these tools are very educational. These tools are meant to help traders who are just starting out and keep them from feeling lost.
The education center also has a part where you can watch videos to learn about forex trading basics, technical and fundamental analysis, trading psychology, and risk management. These videos provide a solid basis for learning the basics of forex trading, making sure that you get a well-rounded education.
RoboMarkets has a number of bonus and marketing programs, but only "Professional Traders" can use them. To get this status, clients must show that they have the necessary experience, knowledge, and skills to make independent financial decisions and evaluate the risks involved.
To become a professional client, you have to ask a regular trader to change your status and pass a test. To pass the test, you must meet two of the following three requirements:
Having a collection of financial instruments, including cash deposits and other financial instruments, that is worth more than 500,000 EUR.
Over the past four quarters, the average number of large deals on the relevant market was 10 per quarter.
Having worked in the financial field for at least a year, either by doing transactions or using the services on offer.
Professional clients who want to hire them may be asked to show more proof of their skills.
Once they are qualified, professional clients can take advantage of a number of benefits, such as profit share and classic bonuses, cashback rebates on trading volume, extra percentage rebates for meeting certain criteria, and access to the VIP client program.
The bonus can be used during "drawdown," and losses can be split between your own money and the extra money.
Open positions with a volume that is 1.6 times larger than the amount you put in.
You can always take out the money you've made by dealing with your own money.
Robomarkets gives you a classic bonus when you make your first deposit and each payment after that.
A trader can raise his trading volume by up to 50,000 USD with the help of bonuses. He can withdraw profits made when trading with both his own money and bonus money, and he can also withdraw the bonus after meeting the trading volume requirements.
Cashback refunds are given to traders every month if they trade 10 lots or more during that month. The amount a client gets depends on how much they trade and what kind of account they have.
The percentage rebate lets clients get up to 10% of their account balance every month, depending on how much they trade each month. Keep in mind that the percentage is based on an annual rate, so a 10% payout equals 0.83% of the account value each month.
Every day, these amounts are worked out. If a client trades up to 10 lots, they are eligible for a 2.5% rebate. If they trade between 10 and 1,000 lots, they are eligible for a 5% rebate. If they trade more than 1,000 lots, they are eligible for the full 10% rebate.
There are three VIP programs that offer extra cash-back rebates. Clients can get up to 40% of the cash-back rebates they have already gotten. These programs have three levels: Silver, Gold, and Platinum. The level a person is in depends on how much money they have in their account.
Clients need to have $3,000 in their account to reach the Silver level, which gives them 20% cashback, higher percentage bonuses, a personal account manager, and better VPS order conditions. As a client moves up in level, the cashback and bonus percentages go up. At the Platinum level, the cashback is 40%.
Traders hope they won't need customer service, but if they do, they look for a great team to help them. RoboMarkets does just that because it is a world-class company.
The support team is open 24/7 and can speak seven languages. Clients can talk to us in a lot of different ways, such as through online chat, the phone, email, an online web form, or a call-back service.
The team responds quickly, well, professionally, and with a lot of information. We asked them a number of questions about trading accounts and platforms, and they answered quickly and well. Having a customer service team that is so knowledgeable gives me peace of mind when I need it.
The RoboMarkets website isn't as famous as its sister site, which has a well-known name around the world, but it still has more than 200,000 clients and is well-known as a forex broker. Even though EU rules help its image, the broker goes above and beyond to give its clients a great trading experience.
RoboMarkets has a variety of trading tools, such as Metatrader 4, Metatrader 5, and their own R StocksTrader. Even though cTrader wasn't included, the R StocksTrader platform stands out because it has over 12,000 different assets available. This makes it a good choice for traders who want a wide range of assets.
RoboMarkets is great for traders who care about every pip and cent because its ECN accounts have very low spreads and fees. Cashback offers, bonuses, and rebates add to the draw, but these perks are only available to professional clients who meet certain requirements.
Overall, RoboMarkets is reliable and trustworthy, so we can confidently suggest it, especially to people who meet the requirements to be professional traders.
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