RoboMarkets Review

RoboMarkets Review | A Helpful Guide Before You Sign Up

Forex, Indices, Precious Metals, Stocks, ETFs and Cryptocurrencies

  • CySEC regulated ✔
  • EUR/USD spreads from 0.0
  • Cryptocurrency CFDs
  • MT4, MT5, R Trader
  • ECN trading
  • Cent and Standard accounts
  • Minimum deposit $/£100
  • Free strategy builders
Over 11,000+ markets on R Trader • RoboMarkets

RoboMarkets Review

RoboMarkets is a CFD broker which offers a wide range of account types, from Cent to ECN, including automated trading. It offers a number of platform, including MT4, MT5, a Web Trader and R Trader and provides free robot building tools.

Awards

RoboMarkets won the 'Best Investment Products' award at the 2017 London Forex Show, in the United Kingdom.

What markets does RoboMarkets offer to trade ?

RoboMarkets offers different markets to trade depending on the account type. The most are available on the R Trader platform. This has over 11,000 available, covering Forex, Indices, Cryptocurrencies, Stocks and ETFs. The ECN, Standard and Cent accounts have a much smaller number.

What platforms are available ?

MT4, MT5 and R Trader. The Standard, Cent and ECN accounts use MT4 and MT5. R Trader is a separate account.

What is R Trader ?

R Trader is a web trader (different from the Web Trader which RoboMarkets providers for its other accounts) - it is not downloaded but can be accessed from a web browser. Its charting has time frames from 1 minute to 1 month, candles, bar, line and area chart types and 30+ technical indicators. The vast majority of its markets are Stocks, thus it is essentially RoboMarkets's Stock trading platform.

R Trader also offers a relatively wide range of Cryptocurrency CFDs, along with 45+ Forex pairs and 10+ Indices. R Trader charges commissions, which can vary depending on the market. Forex commission are $1.5 per lot per side (with Forex spreads from 0.1). The minimum Forex order size is 0.01 lots.

Stock commissions are 0.02 cents per Stock, with a minimum of $2. R Trader accounts can be in USD or EUR. The other accounts can also be in GBP, CHF and Gold. It can be signed up to here: R Trader

What other Web Trader does RoboMarkets offer ?

RoboMarkets offers a Web Trader which allows the trader to trade on MT4, with its accounts. This has a visually pleasant interface. It offers time frames from 1 minute to 1 month, candle line and bar charts and 13 technical indicators. Thus it has less indicators and much less markets available than R Trader.

What Cryptocurrency CFDs are available ?

RoboMarkets offers Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash and EOS. Cryptocurrencies are available on Pro-Standard, ECN-Pro, Prime and R Trader accounts and on all platforms.

These are CFD, which means that the trader does not own the underlying cryptocurrency, does not need a wallet (or to store the cryptocurrency) and can go long or short (i.e. speculate on its price going up or down).

What does ECN trading mean ?

ECN means Electronic Communication Network, referring to a system for buying and selling. In ECN trading at RoboMarkets, the broker places orders with liquidity providers using Straight Through Processing (STP), bypassing a dealing desk.

Doing this aims to result in lower prices available from the broker's liquidity providers being made available to the client, along with faster order execution and freedom to trade using styles such as automated or news trading, which may be problematic with a dealing desk.

Prices are a function of a number of factors, including liquidity (i.e. how much of a market exists). The most liquid Forex pairs can have prices from 0. However in return for bringing these prices to the client, a commission is charged.

What are RoboMarket's commission charges ?

RoboMarkets has a very competitive commission charge of $2 per lot per side (i.e. to open and close a trade). However its MT4 Prime account, which has a higher minimum deposit, has a lower commission charge of $1.5 per lot per side.

In the Interbank market a lot size is $1,000,000 (or more generally 1,000,000 units of the base currency in a Forex pair). In Forex a standard lot is $100,000. RoboMarkets prices its commissions in terms of an Interbank lot, thus they are given as $20 per million traded, per side (or $15 per million traded, per side).

Does RoboMarkets offer trading without a commission charge ?

On the Cent and Standard accounts, it offers both fixed and variable Forex trading, without a commission charge.

How can a trader trade a Standard lot ?

A standard Forex lot is $100,000. Leverage allows the trader to control this sum, by only putting up a fraction of the amount. However increasing leverage increases risk. RoboMarkets (CySEC regulated) has maximum leverage of .

The trader does not need to trade lots, however and can opt to trader smaller sizes, including micro lots (0.01 lots). The Cent account allows trading down to 0.001 lots.

As lot size goes down, the value of each increment or decrement of the price of an underlying asset reduces. Smaller lot sizes and higher leverage means that a trader can trade markets (which allow smaller lots sizes and higher leverage) with smaller account sizes.

What is the minimum deposit ?

The minimum deposit for all account types is $/€/£100, except for MT4 Prime where it is $5,000. RoboMarkets.

Does the trader actually buy or sell assets ?

At CFD brokers, of which RoboMarkets is one, the trader does not own the underlying asset. Rather they are trading (buying or selling) using Contracts for Difference (CFDs), a derivative product which allows the trader to speculate on the movement of the price of the underlying asset. This allows for higher leverage.

What is the maximum leverage available ?

Clients in the European Economic Area have a maximum leverage available of . Other client using the IFSC regulated branch of RoboMarkets may have leverage up to 1000:1. For Cryptocurrency CFDs the maximum leverage for EEA clients is 2:1 and for other clients it is 50:1. Increasing leverage increases risk.

What are RoboMarket's advantages ?

Brokers can roughly be divided into those which offer no dealing desk trading and have a smaller number of markets available and those which offer dealing desk trading with a larger (and sometimes particularly large) number of market offered. Typically large number of markets will mean mostly Stocks, but also an expanded range of other markets.

RoboMarkets aims to have both, as it provides ECN trading with a smaller number of markets and offers R Trader with a relatively large number of markets to trade (but it does not have a particularly wide range of some markets and charges commissions). When an account is opened, the trader can add on other account types, and take advantage of other styles of trading, and platforms.

Does RoboMarkets have something to offer for advanced traders ?

It offers an MT4 Prime account, which is an ECN account with a higher minimum deposit and lower commission charges. In addition it provides free tools for automated trading. These are StrategyQuant, which allows the trader to build trading robots for MT4 (this is after all 'Robo'Markets) and R Trader Strategy Builder, which allows automated strategies (robots) to be built without coding.

Does RoboMarkets offer copy trading automation ?

RoboMarkets offers CopyFX and RAMM. CopyFX allows for transactions to be copied, RAMM allows for strategies to be copied. The minimum deposit required for both of these services is also $100.

How does the trader deposit or make withdrawsl ?

Deposit methods include credit/debit cards, bank transfer, Skrill, Neteller, China UnionPay, WebMoney, FasaPay, QIWI Wallet, Euteller (Finland) and ePay.bg (Bulgaria). There are no deposit fees, but there are withdrawal fees, which vary depending on the method. However the trader can withdraw twice a month, without a charge, T&Cs apply.

Summary

In conclusion, for a minimum deposit of $100 RoboMarkets offers a wide range of services and platforms, to suit traders with different styles and requirements, from discretionary to automated. For a higher minimum deposit, the trader can access lower commission charges on MT4. Analysis, videos, education and other trading tools are available on the website. This is a broker with a relatively wide range of services to offer. For residents of EU/EEA countries it is regulated by the CySEC.