Risk Warning
Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.
General Information
What is RoboMarkets？
RoboMarkets is a brokerage firm regulated by CYSEC, which offering a diverse range of trading instruments across different asset classes. With access to stocks, indices, forex, cryptocurrencies, ETFs, commodities, precious metals, and energy, traders have a wide selection to choose from. The broker provides various account types, including Prime accounts, ECN accounts, R Stocks Trader accounts, and ProCent accounts, catering to different trading preferences and strategies. Additionally, RoboMarkets offers multiple trading platforms like MT4, MT5, StocksTrader, MobileTrader, and WebTrader, ensuring flexibility and accessibility for traders.
Pros & Cons
RoboMarkets Alternative Brokers
There are many alternative brokers to RoboMarkets depending on the specific needs and preferences of the trader. Some popular options include:
Degiro - Particularly popular in Europe, Degiro offers low-cost trading and a user-friendly platform, making it a good choice for cost-conscious investors in the European market.
IG - A globally recognized broker known for its competitive spreads, extensive market coverage, and user-friendly platforms - recommended for traders of all levels seeking a reliable and feature-rich trading environment.
Avatrade - A well-regulated broker with a comprehensive range of trading instruments and multiple trading platforms - recommended for traders looking for a diverse range of markets and advanced trading tools.
Is RoboMarkets Safe or Scam？
Based on the additional information that RoboMarkets is regulated by CYSEC (Cyprus Securities and Exchange Commission), it indicates that the broker operates under regulatory oversight. This regulation imposes certain standards and requirements on the broker, which can provide a level of safety and protection for clients. It is suggested conducting independent research, seeking advice from financial professionals, and considering alternative options can assist in making an informed decision about the safety and reliability of the broker.
Market Instruments
RoboMarkets is a brokerage firm that offers a diverse range of trading instruments across various asset classes. Here's a brief summary of the market instruments available at RoboMarkets:
Stocks: RoboMarkets provides access to a wide selection of stocks from global exchanges, allowing you to invest in individual companies and participate in their growth and dividends.
Indices: You can trade popular stock market indices like the S&P 500, NASDAQ, Dow Jones, FTSE 100, and more. Indices represent the performance of a group of stocks and allow you to speculate on the overall direction of the stock market.
Forex: RoboMarkets offers a comprehensive range of currency pairs, including major, minor, and exotic pairs. Forex trading allows you to speculate on the exchange rate fluctuations between different currencies.
Cryptocurrencies: You can trade a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Litecoin, and many others. Cryptocurrency trading enables you to speculate on the price movements of digital currencies.
ETFs: RoboMarkets provides access to exchange-traded funds (ETFs), which are investment funds that trade on stock exchanges. ETFs offer exposure to a diversified portfolio of assets, such as stocks, bonds, or commodities.
Commodities: You can trade commodities like gold, silver, crude oil, natural gas, and agricultural products. Commodities trading allows you to speculate on the price movements of these physical goods.
Precious Metals: RoboMarkets offers trading opportunities in precious metals like gold, silver, platinum, and palladium. Precious metals are often sought after as a safe-haven investment and a hedge against inflation.
Energy: Trading energy commodities includes products like crude oil, natural gas, and heating oil. These markets are influenced by factors such as global supply and demand, geopolitical events, and weather conditions.
Accounts
RoboMarkets caters to the diverse needs of traders by providing a range of account types to choose from. Prime accounts are tailored for traders who prefer a traditional market execution model with no requotes.
For those seeking direct access to the interbank market and enhanced trading conditions, ECN accounts are available. These accounts offer deep liquidity and fast execution, ensuring that trades are executed swiftly and with minimal slippage. With ECN accounts, traders can benefit from tight spreads and trade without the interference of a dealing desk. This account type is well-suited for traders who value transparency and want to take advantage of market depth. Similar to Prime accounts.
RoboMarkets also offers R Stocks Trader accounts, which are specifically designed for stock trading. Traders using R Stocks Trader accounts gain access to a diverse selection of stocks from global exchanges. This allows them to invest in individual companies and potentially benefit from dividends and capital appreciation. With competitive trading conditions and a focus on stocks, R Stocks Trader accounts provide a dedicated platform for stock enthusiasts.
For traders who prefer algorithmic trading and trading with smaller volumes, ProCent accounts are available. These accounts offer a cent-based trading environment, allowing traders to execute trades with lower investment amounts. They are ideal for traders looking to automate their trading strategies or practice with smaller position sizes.
RoboMarkets offers another type of account known as “For accounts”. These accounts are designed to accommodate traders with different budget sizes and preferences.
The minimum deposit requirement for all account types is 100 USD, EUR or equivalent in CZK.
Spreads & Commissions
RoboMarkets offers competitive spreads on its various account types. Prime and ECN accounts feature spreads starting from 0.0 pips. The low spreads offered on these accounts contribute to potentially improved trading conditions and cost efficiency for traders.
R Stocks Trader accounts, specifically designed for stock trading, have a fixed spread of $0.01.
ProCent and For accounts have spreads starting from 1.3 pips.
It is important to note that while information regarding spreads is openly available on the broker's website, there is no explicit mention of commissions.
Below is a comparison table about spreads and commissions charged by different brokers:
Trading Platforms
Here's a brief description of the trading platforms offered by RoboMarkets:
MetaTrader 4 (MT4): MT4 is a widely recognized and popular trading platform in the industry. It provides a comprehensive set of tools and features for trading various financial instruments, including forex, commodities, indices, and cryptocurrencies. MT4 offers advanced charting capabilities, customizable indicators, automated trading through Expert Advisors (EAs), and a user-friendly interface. It is known for its stability, flexibility, and extensive library of trading tools.
MetaTrader 5 (MT5): MT5 is the successor to MT4 and offers an enhanced trading experience. It includes all the features of MT4 but with additional functionalities and asset classes. In addition to the instruments available on MT4, MT5 also allows trading of stocks and futures. It offers advanced order types, an economic calendar, a built-in news feed, and a powerful strategy tester. MT5 is designed to cater to the needs of both novice and experienced traders.
StocksTrader: StocksTrader is a specialized trading platform provided by RoboMarkets specifically for stock trading. It offers access to a wide range of global stocks, allowing traders to invest in individual companies. StocksTrader provides real-time market data, advanced order types, customizable watchlists, and in-depth stock analysis tools. It is designed to meet the specific requirements of stock traders and offers a seamless trading experience.
MobileTrader: MobileTrader is a mobile trading platform offered by RoboMarkets. It is available for both iOS and Android devices, allowing traders to access their accounts and trade on the go. It is a convenient solution for traders who prefer to monitor and manage their trades using their mobile devices.
WebTrader: WebTrader is a web-based trading platform that allows traders to access their accounts and trade directly from their web browsers. It eliminates the need for downloading and installing additional software. It provides flexibility and convenience for traders who prefer to trade from any computer with internet access.
See the trading platform comparison table below:
Trading Tools
Here's a brief description of the trading tools offered by RoboMarkets:
R StocksTrader Auto Strategy Editor: RoboMarkets offers the R StocksTrader Auto Strategy Editor, which is a tool designed specifically for stock trading. It allows traders to create and customize automated trading strategies without the need for programming knowledge. Traders can define their trading rules, set conditions, and specify entry and exit points for their automated strategies. This tool empowers traders to implement and automate their trading ideas effectively.
Business Calculator: The Business Calculator provided by RoboMarkets is a useful tool for traders to calculate various financial metrics and evaluate trading opportunities. It offers functionalities such as pip value calculation, margin calculation, profit/loss calculation, and position size calculation. Traders can use this tool to assess risk and potential returns before entering trades, helping them make informed trading decisions.
Financial Charts: RoboMarkets offers advanced financial charts that provide comprehensive market analysis and insights. These charts come with a range of technical indicators, drawing tools, and timeframes, allowing traders to analyze price movements, identify patterns, and make informed trading decisions. The charts are customizable to suit individual preferences and trading strategies.
Deposits & Withdrawals
Here's a brief description of the deposit and withdrawal methods offered by RoboMarkets:
Bank Payments: RoboMarkets allows deposits and withdrawals through bank payments. This method involves transferring funds directly from your bank account to your trading account or vice versa. Bank payments are a secure and reliable way to transfer funds, although processing times may vary depending on the banks involved.
Electronic Payments: RoboMarkets supports popular electronic payment methods such as PayPal, Skrill, and Neteller. These payment processors offer convenient and fast transactions, allowing you to deposit and withdraw funds from your trading account. Electronic payments provide flexibility and accessibility, making it easier for traders to manage their funds.
Bank Cards (VISA/MasterCard): RoboMarkets accepts deposits and withdrawals through bank cards, specifically VISA and MasterCard. This allows traders to use their debit or credit cards to fund their trading accounts or withdraw funds. Bank card transactions are widely used and provide a convenient and familiar payment method for many traders.
RoboMarkets minimum deposit vs other brokers
Customer Service
RoboMarkets prioritizes excellent customer service and offers various channels for clients to seek assistance and support. Clients could reach out this broker via online messaging, telephone number: +420 800088482, and live chat.
In addition to these direct contact methods, RoboMarkets maintains a presence on various social media platforms, including Facebook, Twitter, YouTube, and Instagram.
RoboMarkets aims to provide clients with various means to seek assistance and obtain prompt responses. These channels ensure that clients can choose the method that best suits their preferences and enables efficient communication with the knowledgeable and dedicated customer support team.
Conclusion
RoboMarkets presents a mixed picture. On one hand, the broker offers a diverse range of trading instruments and multiple account types to suit various trading needs. The availability of different trading platforms enhances flexibility for traders. Moreover, being regulated by CYSEC provides a level of regulatory oversight and can indicate a commitment to certain standards. While regulation is a positive aspect, it does not eliminate all risks. Thorough research, evaluation of customer feedback, and consideration of alternative options are recommended to make an informed decision about engaging with RoboMarkets.
Frequently Asked Questions (FAQs)
Q1: What trading instruments can I access through RoboMarkets？
A1: RoboMarkets offers a diverse range of trading instruments, including stocks, indices, forex, cryptocurrencies, ETFs, commodities, precious metals, and energy.
Q2: What types of accounts are available at RoboMarkets？
A2: RoboMarkets provides various account types, such as Prime accounts, ECN accounts, R Stocks Trader accounts, and ProCent accounts, catering to different trading preferences and strategies.
Q3: Which trading platforms can I use with RoboMarkets？
A3: RoboMarkets supports multiple trading platforms, including MT4, MT5, StocksTrader, MobileTrader, and WebTrader, offering flexibility and accessibility for traders.
Q4: Is RoboMarkets regulated？
A4: Yes, RoboMarkets is regulated by CYSEC (Cyprus Securities and Exchange Commission), indicating a level of regulatory oversight and compliance with certain standards.
Q5: Does RoboMarkets have any regional restrictions？
A5: Yes, RoboMarkets provides financial services only to residents of EU/EES countries.
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