Introduction to RoboMarkets
RoboMarkets is an online Forex and CFD brokerage firm that was founded in 2012. Its central office is in Limassol, Cyprus. This company belongs to RoboMarkets Group Holding, an investment group of companies also based in Cyprus.
RoboMarkets offers services to institutional clients and also retail traders in Europe. In its range of trading options, you can find more than 11,700 trading instruments which fall within a wide range of asset classes and can be found through a variety of different modern trading platforms. On some products, such as forex, the spreads are typically very low, sometimes reaching just 0 pips.
In this RoboMarkets review, it is important to highlight the fact that RoboMarkets was born from the need to separate the European offer from its international offer, in order to create a different set of commercial conditions that brokerage firms in Europe are required to offer to their users.
So, you may ask what the new benefits that RoboForex offers are:
- RoboMarkets is regulated in Europe (Cyprus) by CySEC.
- Services are available for EU clients.
- Provision of a VPS server.
- Has different investment opportunities to fit different types of traders.
This company opened its doors to the public in 2012 with a license from CySEC. Unlike RoboForex, the Belizian sister company which RoboMarkets doesn’t offer cTrader accounts.
|Number of Employees||300+|
RoboMarkets Trading Accounts
At RoboMarkets, users are offered a wide range of options to trade with five distinctive types of trading accounts. Each of the accounts differs from one another as they have been created to meet the different needs of customers. The different account types include Pro-Standard, Pro-cent, ECN-Pro NDD, Prime and Demo accounts.
Pro Standard Account
This is a standard account type offered by most forex brokers. Here there are no commissions which minimizes transaction costs. However, there is a spread. Spreads on this account start at 1.3 Pips. Some traders prefer this account type because their trading strategy performs better without paying a commission on every trade.
If you are a beginner trader but you are interested in making some money from the micro-lot trade, then this is the right account for you. It is ideal because it only requires minimal investments and serves to test market conditions. If you use this account and operate on the MetaTrader 4 platform, the volume of the order varies from 0.001 lots, in the case that it is MetaTrader 5, the volume of the order is 0.0001 lots.
ECN Pro NDD
This ECN account is made for what we would call competent and demure traders. Those traders who prefer lower spreads and quick order execution. Their quotes are 5 digits and the market execution mode is desktop without transactions.
This type of account is the most prestigious. It is similar to the ECN Pro NDD account mentioned above but offers better trading conditions. Getting access to this account requires a large initial deposit to qualify. The minimum deposit is 5,000 USD. Trading commissions are just $15 per million USD traded, as opposed to $ 20per million USD traded with the ECN Pro NDD account. Also, the spreads are slightly lower too. This account appears tailored towards professional traders who would also be able to qualify for certain incentives such as rebates and cashback.
Like all demo accounts, this serves as a method of practice to know the market and test the circumstances that you can face, without risking your money. You will find operating in demo accounts is the same as doing it in real accounts. In this type of account, you will still feel inside the market long before you really start.
RoboMarkets Trading Platforms
RoboMarkets offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms that are developed by MetaQuotes Software Corporation. Depending on the type of platform you decide to work with, you can carry out up to three types of order execution. The trading platforms offer six types of pending orders, and the ability to develop and use trading robots.
Does RoboMarkets offer cTader?
Unfortunately, RoboMarkets doesn’t offer cTrader. However, RoboForex does. Unfortunately, RoboForex doesn’t accept EU clients. If you are an EU resident and are looking to trade with cTrader, your choices are relatively limited. Check our full list of cTrader brokers to find an EU cTrader broker.
Deposits and Withdrawals
Trading with RoboMarkets you benefit from the various ways of making payments and withdrawing your profits. Here you can make use of electronic wallets, your credit cards and personal bank accounts. They do not charge any type of commission for a deposit but there is a small withdrawal fee, depending on the amount to be withdrawn.
In the case of electronic wallets, which tend to be a common payment and withdrawal method, RoboMarkets accepts; WebMoney, Skrill, Fasapay, Neteller, Qiwi wallet, ePayments, Euteller, ePay.bg.
In RoboMarkets the minimum first-time deposit for most trading accounts is 100 USD / 100 EUR / 100 GBP, respective of your account currency. Subsequently, the minimum amount you can deposit is 10 USD. However, this depends on the payment method being used. In the case of Prime Accounts, the minimum deposit must be USD 5,000, as they are professional accounts.
RoboMarkets has what each type of trader needs. The company offers very specific account types and very popular trading platforms that are familiar to most traders.
The company also has different types of tools that support their clients trading activities. If you are a beginner trader, there will be no problem since you will have educational videos and webinars at your disposal. RoboMarkets educational department is very well developed. It is generally a broker who knows what they are doing and is attractive to the public due to its wide variety of options and the confidence it inspires. Visit RoboMarkets website to learn more.