RoboForex Review
Introduction and Background information
Established: 2009
Address: 2118 Guava Street, Belama Phase 1, Belize City, Belize
RoboForex Group (RFG) Holding is the owner of two related brands, RoboMarkets Ltd – regulated in Cyprus (formerly known as RoboForex) and RoboForex Ltd – regulated in Belize. In early 2013, the broker obtained regulatory status in Cyprus under its RoboForex (CY) Ltd entity as a Cypriot Investment Firm, and is passported throughout other European Union (EU) member states.
RoboForex allows scalping as well as news trading and expert advisor trading.
Account types
the Pro Standard, Prime, ECN-Pro, and Pro-Cent accounts
Minimum Trade Size: 0.01
Maximum Leverage: 2000:1
Minimum to Open Live: $10
Instruments
Currencies: (30+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (60+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
PAMM: Yes
Education
RoboMarkets provides research from Claws & Horns, an independent research firm that offers various forms of analytics content, including trading signals.
Regulation
IFSC #IFSC/60/271/TS
MT4, MT5, cTrader, WebTrader, Mobile Trader, R Trader
Primarily a MetaTrader broker offering the suite of platforms developed by MetaQuotes Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the firm offers cTrader – developed by SpotWare Systems, and the Umstel web platform branded as RTrader.
The Umstel platform is branded as R Trader at RoboMarkets (and at RoboForex) and comes as a web-based app that provides a simple user interface for creating trading strategies, in addition to basic charting and trading operations.
The charts are easy to use in R Trader, and support multiple timeframes, four chart types, 31 indicators, and seven drawing tools.
RoboMarkets offers iOS and Android mobile trading applications for its MetaTrader platforms, available directly from the developers on the iTunes Store and Google Play.
Deposit and Withdrawals
Deposit Methods: Bank Wire, VISA, MasterCard, ePayments, FasaPay, Neteller, PaySec, Poli, Qiwi, Skrill, UnionPay, WebMoney
Withdrawal Methods: Bank Wire, VISA, MasterCard, ePayments, FasaPay, Neteller, PaySec, Poli, Qiwi, Skrill, UnionPay, WebMoney
Fees (Account and spreads/commission)
The Prime account requires a $5,000 USD deposit, and offers an average 0.3 pip spreads on the EUR/USD, and a commission of $2 per standard lot ($4 round turn), bringing the all-in cost to roughly 0.7 pips. The Pro-Standard account has no commission but higher costs on the EUR/USD, with an average spread at 1.6 pips. It doesn’t require a minimum deposit.
Execution
RoboForex combines 2 business models, market maker and Straight Through Processing (STP).
Market Maker model applies to all cent accounts. That is RoboForex Ltd serves as a market maker, i.e. the other party of the transaction. This is due to the terms of the liquidity provider, which does not allow transactions fewer than some specific volume.
STP models applies to all standard and ECN accounts. That is RoboForex applies the STP technology through a bridge connected to a liquidity provider. All transactions that exceed 0.01 lot (1,000 units) are sent to the bridge and then to the liquidity provider. RoboForex receives a part of the spread from each transaction.
Customer Support
[email protected], +65 3158 8389
Promotion
Conclusion
