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RoboMarkets Review & Rating [yyyy]

RoboMarkets Review & Rating 2022

Visit RoboMarkets

The RoboMarkets broker is the European subsidiary of the well-known Forex and CFD broker RoboForex, a fairly veteran broker in the forex market and a fairly popular one in algorithmic and ECN trading circles.

Is RoboMarkets a safe platform? In this RoboMarkets review, we are going to see the characteristics of this broker, which we can already assume are almost identical to those of the RoboForex broker, although with the difference that the assets will have to comply with European leverage regulations, among other things.

RoboMarkets review

image credit: RoboMarkets

RoboMarkets is based in Cyprus, from where the legislation that regulates this broker operates and which fully follows the guidelines of the European MiFID. Therefore, any trader from the European region must open an account in this subsidiary, while those residing in foreign jurisdictions may do so in the RoboForex one in Belize.

This broker has a great offer of trading strategies and products with no less than 12,000 assets on offer.

It is a broker that has been in operation since 2009 and claims to have more than 3 million accounts created, which is not surprising given that it is one of the most popular brokers in Asia.

One of the keys to the broker's success lies in having opted for an aggressive marketing strategy with a very large use of advertising and sponsorships.

Why should you trade with this broker? Read this Robomarkets review to find out.

RoboMarkets Review - Is RoboMarkets Legit Broker?

Regulations

Is RoboMarkets safe? You are most probably reading this RoboMarkets review because everyone wonders how safe this broker is. Others want RoboMarkets opinions, so they go further and wonder if the broker is legit, because it turns out that we can always fall into the hands of a rogue company.

RoboMarkets is regulated by the CySEC of Cyprus and also has offices in Germany, where of course it has to be registered with the Bafin. In addition to this, it has to fully comply with the regulations of the European MiFID, and of course the ESMA, with its margin limitations.

Is RoboMarkets good? As a broker authorized by the CySEC with a 191/13 license, it is subject to the compensation fund of funds from financial institutions in that country that covers up to 20,000 EUR in the event of a problem with the company, something that applies to all financial institutions registered in that jurisdiction.

It is also subject to civil liability insurance for the amount of 5,000,000 EUR, to give more confidence if possible to the client.

Another interesting extra security feature is that of protection against negative balance, which means that the customer cannot lose more money than he has deposited. This is good because there are many traders who tend to make wrong decisions with too much risk for certain situations. This rule helps RoboMarkets take more care when it comes to monitoring margins, and therefore it will prevent traders from taking excessively risky positions. However, you never know in the markets and no matter how many precautions we take, we are subject to totally unexpected issues.

Market Analysis Section

In this broker, there is a fairly wide market analysis section, something that many traders who do not want to leave the broker to be informed of the latest measures and news in world markets appreciate. Let's see what these sections are:

Currency analysis and forecasts. In this case, we have daily news specialized in the Forex market, as well as technical analysis articles on the market, although they also include analysis of indices, raw materials or even the most popular cryptocurrencies.

RoboForex Analytics Center. A free service that is only available to RoboMarkets clients. This means that you have to register with the broker to be able to see these analyzes that are offered continuously and free of charge. In this analytics center we have things like:

  • News feed with technical analysis
  • Signals with technical indicators
  • Video analysis
  • Macroeconomic events calendar and statistics
  • Educational content
  • Extra trading tools
  • Online chat with broker analysts
  • This service is available in 13 languages ​​and can be accessed from your mobile without problems.

RoboForex webinars. This service is free and you just have to be careful to sign up on the events page to be able to attend one. These types of webinars typically last about an hour. The broker uses the MyOwnConference platform.

Education

The broker has a wide section of articles so that not-so-experienced traders can find out about the basic knowledge of financial markets. In things like:

  • How to learn to trade
  • How to open an account
  • Concepts of financial markets
  • Where you can download the trading terminal
  • In which instruments to invest
  • How much capital is necessary to start trading
  • How to open an order

For whatever topic you prefer, you can get educated with a series of educational videos. However, to be able to access them, you need to register with the broker's live or demo account, which will simply take a while.

Open account

Opening an account with RoboMarkets has to follow the strict regulations of European organizations, but it is not complicated at all. It can be done in a matter of minutes if we get it right.

First you have to go to the web and look for the part that says "Open an account". There you can put your data in the registration fields.

Once the data is filled in, you will receive an email confirming the registration and the following would be to send some documents that ratify your identity and our tax residence, something totally essential to operate in a regulated broker like this one.

For these documents we can use a passport and an electricity or water bill, or even a bank statement with our name and address. This is sent and sometimes the RoboMarkets customer service team can review it in a matter of minutes, based on RoboMarkets opinions, which is how long it would take to have the account open as long as things go well.

That is the procedure to open a real account, but we can always try to open a demo account, a step that is highly recommended for all aspiring traders given how important it is to be able to test the broker's platform in a free trading environment. and simulated, with real operating conditions, but without risking our money.

Opening the demo account does not require verification of our personal data and can be opened in a matter of minutes. The conditions to operate are the same as the real ones and the duration of the same is 90 days, which is not bad because other brokers usually offer only 30.

It is important to stress in this RoboMarkets broker review that they only accept clients from EU or European countries, such as Spain, UK, Germany, France, etc. Therefore, RoboMarkets does not accept clients from Latin America or the United States.

How to Deposit and Withdraw funds

This broker is one of the ones that offers more options to deposit and withdraw money, both in a traditional way with bank transfers and with modern electronic payment methods.

Depositing money is the next step after having verified the real account, as it is what is needed to operate. In the case of RoboMarkets we will need about $100, which is the minimum for their most basic accounts.

Let's see the most common deposit and withdrawal methods:

Wire Transfer:

  • Deposit: Free
  • Withdrawal: Free
  • From $500 minimum

Visa:

  • Deposit: Free
  • Withdrawal: 2.4%
  • From $10

Skrill

  • Deposit: Free
  • Withdrawal: 1%
  • From $10 minimum

Neteller:

  • Deposit: Free
  • Withdrawal: 1.9%
  • From $10 minimum

Paypal:

  • Deposit: Free
  • Withdrawal: 2%
  • From $10 minimum

Webmoney:

  • Deposit: Free
  • Withdrawal 0.8%
  • From $10 minimum

Trading Platforms

RoboMarkets is one of the brokers on the international scene with the best offer of trading platforms.

Metatrader 4

MT4 RoboMarkets

image credit: RoboMarkets

The Metatrader 4 is a classic in the world of online retail trading. We are facing what is probably the most popular platform in the history of retail trading. This is the most used platform in the world of Forex trading and algorithmic trading techniques. Among its most fundamental characteristics we have:

MT4 platform

  • One click trading
  • Access to the Metatrader Market with robots and indicators offered by professional developers
  • Fundamental analysis with the news system of the same Metaquotes (MT4 company)
  • 3 main types of orders
  • 50 built-in indicators for technical analysis
  • 3 types of charts

Metatrader 5

MT5 RoboMarkets

image credit: RoboMarkets

This is the platform that can be considered the older sister of the Metatrader 4, although in reality it is not older but smaller, because it is younger, and therefore it is correct to say that it is a more modern version of the MT4. It has similar characteristics to the previous one, but adds new capabilities to operate other markets such as stocks or futures.

Among its most interesting capabilities we have:

  • Access to the Metatrader Market with more than 1,500 products
  • Fully flexible trading systems
  • Algorithmic trading capabilities with MQL5
  • Offers Virtual Hosting, key to implement trading robots
  • Possibility of trading cryptocurrencies 24 hours 7 days a week

RTrader

RTrader is RoboMarkets' proprietary platform and it is designed to offer the best experience in global product trading, including spot stock trading, in addition to the classic CFD and Forex products. With this platform there is access to no less than 12,000 instruments, one of the largest in the entire market.

The main features of this platform are:

  • Large selection of world markets with over 12,000 assets
  • Dividend payments supported in the system, in addition to divisions or mergers
  • Type 2 depth of market
  • Possibility of creating automated strategies for free
  • Possibility of trading world markets from a single platform

RoboMarkets Terminals

These previous platforms can be used in all the equipment that is available today. The main ones are designed to be used in PC or laptop format, but there is also the possibility of using the applications for web, mobile or tablet.

These applications give the advantage of giving access in a much simpler and faster way to be able to operate in situations in which we are traveling or in the comfort of the bed, for example.

Perhaps the main one is the R Web Trader, which under the same interface we can use on our PC, on our mobile or when we go to another computer from the same browser.

It is a powerful enough platform to provide the most advanced technical analysis services, as well as any type of order.

Trading Account

RoboMarkets provides five different account types, namely the Pro-Standard account, the ECN-Pro account, the Prime account, the Pro-cent account and the r trader account. Each trading accounts has its own set of conditions for commission, fees, margin calls, leverage, and minimum deposits.

Pro-Standard Account

The RoboMarkets Pro-Standard account has the following features:

  •     Access to all trading platforms offered by RoboMarkets.
  •     Ability to open a trading account in either USD, EUR, CHF, GBP, or Gold.
  •     Access to 36 Forex pairs, metals, CFD on US Stocks, CFD on Indices, CFD on Oil, and Cryptocurrencies.
  •     A minimum deposit of $100 or currency equivalent in EUR or GBP.
  •     Commission-free trading.
  •     Market Execution on traders.
  •     Floating spreads from 1.3 pips.
  •     Extended quotes – 5 digits after the comma.
  •     Maximum leverage will be determined upon the registration of the account and is based on the trading experience and knowledge of the trader.
  •     Access to micro-lot trading of 0.01.
  •     Maximum order volume of 100 lots.
  •     Maximum open positions on MetaTrader 5 of 1,000 and a maximum of 500 active orders.
  •     Minimum step volume of 0.01.
  •     Stop out the level of 50%.
  •     Free withdrawal of funds, one-click trading, and trading account history for a year.

 ECN-Pro Account

The RoboMarkets ECN-Pro account has the following features:

  • Access to all trading platforms offered by RoboMarkets.
  • Ability to open a trading account in either USD, EUR, CHF, GBP, or Gold.
  • Access to 36 Forex pairs, metals, CFD on US Stocks, CFD on Indices, CFD on Oil, and Cryptocurrencies.
  • A minimum deposit of $100 or currency equivalent in EUR or GBP.
  • Commissions of $20 are charged on the trading volume of $1 million.
  • Market Execution on traders.
  • Floating spreads from 0.0 pips.
  • Extended quotes – 5 digits after the comma.
  • Maximum leverage will be determined upon the registration of the account and is based on the trading experience and knowledge of the trader.
  • Access to micro-lot trading of 0.01.
  •  Maximum order volume of 50 lots.
  • An unlimited number of positions can be opened on MetaTrader 4.
  • Maximum open positions on MetaTrader 5 of 1,000 and a maximum of 500 active orders.
  • Minimum step volume of 0.01.
  • Stop out the level of 50%.
  • Free withdrawal of funds, one-click trading, and trading account history for a year.

 Prime Account

The RoboMarkets Prime account has the following features:

  •     Access to MetaTrader 4 and R Trader.
  •     Ability to open the trading account in either USD, EUR, CHF, GBP, or Gold.
  •     Access to 28 Forex pairs, metals, CFD on US Stocks, CFD on Indices, CFD on Oil, and Cryptocurrencies.
  •     A minimum deposit of $100 or currency equivalent in EUR or GBP.
  •     Commissions of $15 are charged on the trading volume of 1 million USD.
  •     Market Execution on traders.
  •     Floating spreads from 0.0 pips.
  •     Extended quotes – 5 digits after the comma.
  •     Maximum leverage will be determined upon the registration of the account and is based on the trading experience and knowledge of the trader.
  •     Access to micro-lot trading of 0.01.
  •     Maximum order volume of 50 lots.
  •     Minimum step volume of 0.01.
  •     No restrictions on the maximum number of positions.
  •     Stop out the level of 100%.
  •     Free withdrawal of funds, one-click trading, and trading account history for a year.

Pro-Cent Account

The RoboMarkets Pro-Cent account has the following features:

  • Access to all trading platforms offered by RoboMarkets.
  • Ability to open the trading account in either USD, EUR, CHF, GBP, or Gold.
  • Access to 36 Forex pairs, metals, and Cryptocurrencies.
  • A minimum deposit of $100 or currency equivalent in EUR or GBP.
  • Commission-free trading.
  • Market Execution on traders.
  • Floating spreads from 1.3 pips.
  • Extended quotes – 5 digits after the comma.
  • Maximum leverage will be determined upon the registration of the account and is based on the trading experience and knowledge of the trader.
  • Access to micro-lot trading of 0.01.
  • Maximum order volume of 500 lots.
  • Maximum open positions on MetaTrader 4 of 200, 1,000 on MetaTrader 4, and a maximum of 500 active orders on MetaTrader 5.
  • Minimum step volume of 0.01.
  • Stop out the level of 50%.
  • Free withdrawal of funds, one-click trading, and trading account history for a month.

 R Trader Account

The RoboMarkets R Trader account has the following features:

  • Access to the R Trader trading platform.
  • Ability to open a trading account in either USD, EUR, CHF, GBP, or CZK.
  • Access to more than 12,000 Indices, Cryptocurrencies, Real Stocks, CFDs on Stocks, Forex, and ETFs, CFDs on Oil, CFDs on Metals.
  • A minimum deposit of $100 or currency equivalent in EUR or GBP.
  • Commissions of $0.02 on US Stocks with $10,000+ deposit, $0.0045 per share on US Stocks, $0.015 per share on CFDs on US Stocks, 0.07% on CFDs on EU Stocks, 0.30% on Cryptocurrencies, $15 per 1 million base currency on Forex, variable on indices.
  • Minimum Commissions of $1.5 on US Stocks with a $10,000+ deposit, $0.25 on US Stocks, $1.5 on CFDs on US Stocks, €2.8/£2.8/40 NOK/40 SEK/30 DKK on CFDs on EU Stocks, $0.01 on cryptocurrencies, and $1 on indices.
  • Spreads from USD 0.01 on all US Stock types, 0.000 pips on CFDs on EU Stocks, 0 pips on cryptocurrencies and Forex, and 0.5 pips on indices.
  • Leverage of 1:2 on US Stocks on a deposit of $10,000 and more, up to 1:20 on US Stocks, up to 1:5 on CFDs on US and EU stocks, 1:1 or 1:2 on cryptocurrencies, up to 1:30 on Forex, and 1:20 on indices.
  •     No limitations on the maximum number of positions.
  •     Minimum price change of $0.01.
  •     Swap-free is available with only 1:1 leverage.
  •     Stop out of 50% and free withdrawal of funds.

Demo Accounts

RoboMarkets offers traders the option of opening a Demo Account which can be utilized in various ways, including, but not limited to the following:

  • A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
  • Traders who are evaluating and comparing brokers who would like to explore RoboMarkets’ trading conditions in a risk-free environment, and
  • Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

 Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who strictly follow Sharia law, which prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this account allows exemption from such fees or interest, should they hold positions open for longer.

RoboMarkets offers the option of an Islamic forex trading Account to Muslim Traders.

CopyFx: social trading service

It is also possible to open a Copy trading type account with CopyFX. This account allows copying of transactions of RoboMarkets traders between them. The objective of this service is to connect the more experienced operators to offer their operations to the less experienced ones, so that the latter can earn money by following the former. For this, the system has the following capabilities:

  • Allows small initial investments
  • Many system participants from all world regions
  • Advanced risk management and strategy study functions

Not everyone can become a supplier trader, because for this you have to know how to operate and pass quality filters. It is obvious that if the strategy you have is a loser, no one is going to choose it to copy. Provider traders can carry a compensation according to the volume of followers they have.

The CopyFX service is developed independently and on its own website.

Products Offered By RoboMarkets

RoboMarkets has the same products as RoboForex and is one of the world's CFD brokers with the largest offering of assets. No less than 12,000 assets. Among the available assets we have currencies, raw materials, energies, metals, stock indices, cryptocurrencies or stocks. There is something for everyone.

Forex. In Forex we have more than 40 currency pairs, including the main ones in the world such as EURUSD and USDJPY. The spreads on some of their accounts range from 0 pips with commissions. The execution speed is excellent, which would be expected from a broker specialized in algorithmic trading service.

Shares. The stock offering is excellent, with more than 12,000 titles from the most important exchanges in the world. In addition, you can trade with a leverage of 5: 1. There is also a function to create simple algorithmic strategies.

The broker not only offers access to CFD trading, but also to real shares, being one of the few international brokers that do so and making it one of the best options for the Latin market to access them, since you can open an account to trade US stocks from $100. However, it is not recommended to trade cash stocks with such a small account. The US Stock Pro account already requires a $10,000 deposit.

Index. The broker also offers interesting index trading conditions, with a fairly good offer and an ECN-type trading environment, with classic commissions. One of the advantages of this broker is that it allows maximum flexibility for trading with micro lots of 0.01. The indices available are the main ones for the United States and the DAX 30.

Cryptocurrencies. The cryptocurrency offer is also available in this broker, being able to trade on its MT4, MT5 and R Trader platforms with only $100 as a minimum requirement. However, we recommend using larger accounts to operate with a minimum guarantee. These markets have the advantage that they can be traded 24/7. They will also be subject to commissions and will depend on the type of account chosen.

Raw Materials. In this case we need to deposit $100 to be able to operate these interesting markets that include grains, sugar, soybeans, metals or energy. You can also trade these ETFs if you want to invest in these sophisticated markets. Trading CFDs on these assets allows leverage of 20: 1 for grains and considerably more for oil or gold for example.

In metals you can trade silver and gold or if we prefer to invest in at least 20 ETFs related to them.

  • Forex: +40
  • Index CFDs: +4
  • Shares: +3,000
  • ETFs: +200
  • Stock CFDs: +12,000
  • Crypto CFDs: +26
  • Commodity CFDs: +20

Commissions and costs

Let's start by looking at the commissions on shares, one of the most interesting markets of this broker:

Spreads and commission vary by account type and instrument.

ProCent – floating spreads from 0.0 pips: The average spread for the GBP/USD currency pair is 2.0 pips, broker revenue 1.3 pips. Silver vs US Dollar (spot) is offered at an average of 1.7 pips with broker revenue of 0.8 pips. Commission-free with spreads and swaps payable.

Pro – floating spreads from 1.3 pips: The average spread for GBP/USD currency pair is 2.0 pips, broker revenue 1.3 pips. US500 Index Cash is offered at an average of 0.87 pips with broker revenue of 0.6 pips. Commission-free with spreads and swaps payable.

ECN – floating spreads from 0.0 pips: Commission of $20 per million traded on currency pairs and metals. $200 per million traded on US stock CFDs and $5 per million traded on CFD indices.

Prime – floating spreads from 0.0 pips: Commission of $10 per million traded on currency pairs and metals. $4 per million traded on CFD indices and $150 per million traded on US stocks CFDs.

Other fees to consider include overnight swap rates for positions held into the next day. Our review was pleased to see no inactivity or maintenance fees.

Customer Service

Customer Support

One important thing when choosing a broker is knowing how we can contact you when we have problems or doubts. This is not always something important for everyone as some clients pay more attention to things like regulation, but there are professional traders who require special services.

In this Robomarkets review, we’ve highlighted the main ways to contact this broker:

  • Email: [email protected]
  • Telephone:
  • General: +357 25 123 275
  • Germany: +49 69 967 58120
  • Spanish: +800 5544 5529
  • Call back service
  • Message form on the web
  • Live chat on the web
  • Physical address:
  • Cyprus: 169-171 Arch. Makarios III Ave. Floor 3027, Limassol, Cyprus
  • Germany: RoboMarkets Deutschland GmbH (ex. RBFX Consultant GmbH), Schillerstraße 5, D-60313 Frankfurt am Main
  • Questions and answers section (to solve typical doubts)
  • One of the best features of this broker is that it allows communication with the client 24 hours a day, 7 days a week.

RoboMarkets Broker Review Conclusion

To conclude this RoboMarkets trading website review, there is no doubt about the reliability of the company. The broker offers quite favorable terms of cooperation, available methods of replenishing funds and withdrawing profits, and operates with low commissions. No RoboMarkets scam has been recorded since it was established. Clients' money is deposited in segregated trust accounts with investment-grade banks. The services of the company can be used not only by experienced investors, but also by beginners, for whom an extensive training program is provided. There are drawbacks in the service, but they, in general, do not affect the quality of customer service.

Overview

Company
8/10
Trust
7/10
Trading Platform
8/10
Account Types
8/10
Costs
8/10
Customer Support
8/10
Regulation
8/10
Cryptocurrency
8/10

Reviewed By

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