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Do you want to know which is the better broker between Eightcap and RoboForex ?
In the table below, you can compare the features of Eightcap , RoboForex side by side to determine the best fit for your needs.
EURUSD: 0.9
XAUUSD: 0.2
Long: -6.72
Short: 2.26
Long: -28.18
Short: 8.68
EURUSD: -0.3
XAUUSD: --
Long: -9.6
Short: 1
Long: -29
Short: -3
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of eightcap, roboforex lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Eightcap | Basic Information |
Registered Country/Area | Australia |
Founded in | 2009 |
Regulation | ASIC,FCA, SCB |
Minimum Deposit | $100 USD |
Trading Assets | Forex, Cryptocurrencies, Indices, Commodities, Shares |
Trading Platform | MetaTrader 4, MetaTrader 5, Webtrader |
Spreads | Starting from 0.0 pips |
Commissions | $3.5 per side per lot |
Leverage | Up to 1:500 |
Demo Account | Available |
Islamic Account | Available |
Deposit Methods | Credit/debit cards, bank transfer, Skrill, Neteller, and more |
Withdrawal Methods | Same as deposit methods |
Customer Support | 24/5 live chat, phone, email support, FAQ section |
Educational Resources | Webinars, Trading Guides, Videos, Economic Calendar |
Bonus Offers | No bonus offers available |
Eightcap is a popular online forex and CFDs broker that offers access to trade various financial markets. The broker was founded in 2009 in Melbourne, Australia, and has since expanded its presence to other regions such as Europe, Asia, and the Middle East. Eightcap prides itself on providing a user-friendly trading experience, robust trading platforms, and competitive trading conditions for its clients.
The broker offers a wide range of financial instruments to trade, including Forex, Indices, Commodities, Shares, and Cryptocurrencies. Clients can access these markets through the popular trading platforms, MetaTrader 4 and MetaTrader 5. The broker also offers two types of account types to suit the individual needs of its clients, including Standard, Raw Spread, with the minimum deposit of $100 for both accounts.
Eightcap also places a strong emphasis on education, offering various educational resources to help traders improve their trading skills and knowledge. These resources include trading articles, video tutorials, webinars, and a comprehensive trading glossary. Lastly, the broker provides a 24/5 multilingual support team to assist clients with any questions or concerns they may have.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Yes, Eightcap is considered a legitimate broker, regulated by reputable financial authorities such as the FCA, ASIC, and SCB. These regulatory bodies impose strict rules and regulations on the broker to ensure they operate in a fair and transparent manner, thereby providing traders with a safe and secure trading environment.
EIGHTCAP PTY LTD, its Australian entity, is authorized and regulated by the Australia Securities & Investment Commission (ASIC) under the regulatory license number 391441.
Eightcap Group Ltd, its UK entity, is authorized and regulated by the Financial Conduct Authority (FCA) under the regulatory license number of 921296.
Eightcap Global Limited, the international entity, is authorized and regulated by the Security Commission of the Bamas (SCB) under the regulatory license number of SIA-F220.
Eightcap is a global forex and CFD broker offering a variety of features and benefits that make it an attractive choice for traders of all levels. One of the primary advantages of Eightcap is its range of trading instruments, including forex, indices, commodities, and cryptocurrencies. This diversity allows traders to take advantage of a wide range of market opportunities and build diversified portfolios.
In addition to its broad range of trading instruments, Eightcap also offers competitive trading conditions, such as tight spreads and low commissions, which can help traders maximize their profits. The broker also provides access to multiple trading platforms, including MetaTrader 4 and 5, as well as a proprietary platform, allowing traders to choose the platform that best suits their needs.
While there are many benefits to trading with Eightcap, there are also some potential drawbacks to consider. One of these is the limited selection of educational resources, which may be a disadvantage for novice traders. Additionally, the broker does not currently offer social trading options, and 24/7customer support.
Pros | Cons |
Regulated by top-tier financial authorities | Limited range of account types |
Low minimum deposit of $100 | No social trading options |
Competitive spreads and commission fees compared with other brokers | No proprietary trading platform |
Offers MT4 and MT5 trading platforms | No Islamic accounts |
Wide range of tradable assets including CFDs | No 24/7 customer support |
Access to educational resources and trading tools | Inactivity fee charged after 6 months of no trading activity |
Multilingual customer support | |
Demo accounts available | |
Wide selection of payment methods |
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks.....EightCap allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on EightCap.
Pros | Cons |
Wide range of market instruments including forex, indices, commodities, shares, and cryptocurrencies | Limited selection of shares compared to some other brokers |
Access to multiple trading platforms including MetaTrader 4 and 5 | Higher spreads for some cryptocurrency pairs |
No fees for deposits and withdrawals | Limited leverage for cryptocurrency trading |
Negative balance protection for all clients | Inactivity fee charged for accounts that are inactive for six months or more |
Ability to use Expert Advisors and automated trading strategies | No guaranteed stop-loss orders |
Limited educational resources compared to some other brokers | |
No social trading capabilities |
Eightcap offers competitive spreads and commissions on their trading instruments. The spreads on forex pairs start from as low as 0.0 pips on the Raw account and 1.0 pips on the Standard account. The commissions charged on forex trades start from $3.50 per lot round trip on the Raw account and there are no commissions on the Standard account.
For indices, the spreads start from 0.5 pips on the Raw account and 1.0 pips on the Standard account. There are no commissions charged on indices trading. The spreads on commodities trading start from 0.03 pips on the Raw account and 0.5 pips on the Standard account, and there are no commissions charged on commodities trading. The spreads and commissions may vary depending on market conditions and the type of account held by the trader.
The following table compares the spreads on EUR/USD, gold, and popular indices like US 500, UK 100, and AUS 200 offered by four leading brokers: Eightcap, eToro, IC Markets, and Exness.
Instrument | Eightcap | eToro | IC Markets | Exness |
EUR/USD | 0.0 pips (raw) | 1.0 pips (fixed) | 0.1 pips (raw) | 0.1 pips (raw) |
Gold | $0.30 (raw) | $0.45 (variable) | $0.28 (raw) | $0.30 (raw) |
US 500 | 0.4 pips (raw) | 0.75 pips (fixed) | 0.4 pips (raw) | 0.2 pips (raw) |
UK 100 | 1.0 pips (raw) | 1.5 pips (fixed) | 1.0 pips (raw) | 0.6 pips (raw) |
AUS 200 | 0.9 pips (raw) | 1.0 pips (fixed) | 0.5 pips (raw) | 0.6 pips (raw) |
Eightcap charges non-trading fees, which are fees not directly related to trading, such as deposit and withdrawal fees, inactivity fees, and currency conversion fees. For deposits, Eightcap does not charge any fees, but there may be fees charged by the payment provider or bank. Withdrawals made via bank transfers are free, but there is a fee of $10 for withdrawals via credit/debit cards.
Additionally, Eightcap charges an inactivity fee of $50 per quarter if there are no trades or account activity for a period of 90 days or more. It's important to note that this fee is only charged if there are sufficient funds in the account, and it does not apply to demo accounts.
Eightcap also charges a currency conversion fee of 0.5% for clients who deposit or withdraw in a currency other than their account base currency. This fee can be higher for certain currencies, so it's important to check with Eightcap for the exact fee amount. Overall, while Eightcap does charge some non-trading fees, they are competitive with other brokers in the industry.
Account Types
Demo Account: EightCap provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: We have 2 types of accounts at EightCap: raw and standard. Both have a minimum deposit of 100 USD, which is quite friendly for beginners. Their most relevant differences consist in the spreads, the raw account has a lower spread.
Aside from two types of live trading accounts, Eightcap offers a demo account for traders who want to practice and test their trading strategies without risking real money. The demo account is free and is designed to simulate real market conditions, allowing traders to get a feel for the platform and instruments before they start trading with a live account. The demo account is funded with virtual money and offers access to the same features as the live account, including a range of instruments and trading platforms.
How to open an account?
Opening an account with Eightcap is a straightforward process that can be completed in just a few simple steps.
First, interested individuals need to visit the Eightcap website and click on the “Creative Account” button.
From there, you will be directed to a page where you can select the account type they wish to open, either the Standard or Raw account.
After choosing the desired account type, potential clients will be required to provide some personal information, including their full name, email address, and phone number. They will also need to provide proof of identification and residency, which can be done by uploading a copy of a passport or driver's license and a recent utility bill or bank statement.
Once the required information has been submitted and verified, clients can fund their accounts by choosing from one of the available payment methods, such as bank transfer or credit card. After the account has been funded, clients can then start trading on the platform.
Trading Platforms
Eightcap offers multiple trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms. These platforms are known for their user-friendly interface and advanced charting tools, making it easier for traders to analyze market data and make informed trading decisions. Additionally, Eightcap also provides a web-based trading platform that can be accessed from any device with an internet connection. This platform is ideal for traders who prefer a simpler interface or who don't want to download and install software on their device.
With the MetaTrader platforms, Eightcap offers a range of customizable features, including the ability to use custom indicators and expert advisors. These platforms also provide access to real-time market data and allow traders to execute trades quickly and efficiently. Traders can also use the platforms to set up automated trading strategies, which can be particularly useful for those who want to trade around the clock.
Furthermore, Eightcap's web-based trading platform is designed to offer a streamlined trading experience. It includes essential features such as real-time market news, customizable charts, and advanced order types. The platform also offers access to a range of educational resources, including trading videos, webinars, and tutorials, which can be helpful for new traders looking to improve their skills.
Broker | Trading Platforms | Desktop | Web-based | Mobile |
Eightcap | MT4, MT5, WebTrader | Yes | Yes | Yes |
eToro | eToro Platform | Yes | Yes | Yes |
Exness | MT4, MT5, WebTerminal, Exness Trader App | Yes | Yes | Yes |
IC Markets | cTrader, MT4, MT5 | Yes | Yes | Yes |
The maximum leverage is determined by the regulator; the maximum ASIC leverage is only 1:30, but the Bahamas SCB allows a leverage of 1:500. However, other trading conditions may vary accordingly and you can decide for yourself.
High leverage is ideal for active traders and scalpers, as it presents greater trading flexibility in general, which directly impacts profitability, but new users are advised to operate with caution with such large leverage.
Eightcap offers a variety of deposit and withdrawal methods to cater to its clients' needs. Clients can deposit funds into their account using various methods, including credit/debit cards, bank transfers, and popular e-wallets like Neteller, Skrill, and FasaPay.
One of the advantages of Eightcap's deposit and withdrawal system is that it supports multiple currencies, including USD, EUR, AUD, GBP, CHF, and SGD. This allows clients from different parts of the world to transact in their preferred currency.
Eightcap does not charge any deposit fees, but clients may incur fees when depositing or withdrawing funds through certain payment methods. For example, bank transfers may incur fees from the client's bank or intermediary banks involved in the transaction.
Clients can withdraw their funds through the client portal area, or contact their account manager to withdraw funds. Withdrawals can be made using the same methods used for deposits, with the exception of credit cards, which can only be used for deposits. It's worth noting that withdrawals can only be made to the same account that was used to make the deposit, in compliance with anti-money laundering regulations.
With their policy of processing all withdrawal requests submitted before 01:00 PM AEST/AEDT Monday to Friday on the same business day, you can expect to receive your funds quickly and without any delays. This is particularly convenient for traders who need to access their funds urgently or simply prefer a broker with fast and reliable payment processing.
Pros | Cons |
Fast processing time for deposits | Withdrawal Limits |
Wide selection of deposit methods available | Fees may apply for certain deposit methods |
No fees for withdrawals | Withdrawal time through some methods may be slow |
Withdrawals processed on the same day | Some deposit methods may not be available in certain countries or regions |
Withdrawals may be subject to additional verification or security procedures |
Eightcap offers various educational resources to help traders improve their skills and knowledge in the financial markets. Here are some of the educational resources provided by Eightcap:
Video Tutorials: Eightcap provides a range of video tutorials that cover various trading topics, including technical analysis, trading strategies, risk management, and more. These videos are designed to help traders of all levels learn more about the financial markets.
Trading Guides: Eightcap offers a range of trading guides that cover various financial instruments, such as forex, stocks, indices, and commodities. These guides provide valuable insights into the markets and can help traders make more informed trading decisions.
Webinars: Eightcap regularly hosts webinars on various trading topics, which are presented by industry experts. These webinars are an excellent way to learn more about the financial markets and interact with other traders.
Economic Calendar: Eightcap provides an economic calendar that displays upcoming economic events and announcements that may impact the markets. This calendar can be a useful tool for traders who trade based on news events.
Trading Glossary: Eightcap provides a comprehensive trading glossary that defines various trading terms and concepts. This glossary can be a useful resource for traders who are new to the markets.
Pros | Cons |
1. Video tutorials cover a range of topics | 1. Limited number of webinars offered |
2. Trading guides available for various instruments | 2. No dedicated educational courses offered |
3. Webinars presented by industry experts | 3. Economic calendar is basic |
4. Economic calendar available | |
5. Comprehensive trading glossary available |
Eightcap's representatives are fluent in several languages, including English, Spanish, Chinese, and Arabic, among others. This ensures that clients from all over the world can receive assistance in their native language, which can be particularly helpful when dealing with complex issues.
In addition to a multilingual team, Eightcap offers several support channels, including live chat, phone, and email. Their live chat feature is available 24/5, which means clients can get instant assistance whenever they need it. Phone support is also available during business hours, and email support promises a response within 24 hours.
In addition, Eightcap has an extensive FAQ section on its website that covers various topics, such as account opening, trading platforms, funding and withdrawals, and trading conditions.
Pros | Cons |
24/5 live chat and phone support | No 24/7 customer support |
Multilingual support | No dedicated account manager |
Email support available | No social media support |
FAQ section on website | No in-person support |
In conclusion, Eightcap seems like a solid choice for traders looking for a reliable broker with a wide range of instruments, competitive pricing, and user-friendly platforms. Their customer support is also top-notch, with various ways to get in touch and a comprehensive FAQ section. While their educational resources may not be as extensive as some other brokers, they still provide useful tools and market analysis to help traders stay informed. The only potential downside is the lack of proprietary trading platforms, but with MT4, MT5, and WebTrader available, there's still plenty of options to choose from.
Q: Is Eightcap regulated?
A: Yes, Eightcap is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
Q: What trading platforms does Eightcap offer?
A: Eightcap offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader.
Q: What are the minimum deposit requirements for Eightcap?
A: The minimum deposit requirement for Eightcap's Standard account is $100.
Q: What is the maximum leverage available at Eightcap?
A: The maximum leverage available at Eightcap is 1:500.
Q: Does Eightcap charge commissions on trades?
A: Eightcap does not charge commissions on trades, but it does charge spreads.
Q: What is customer support like at Eightcap?
A: Eightcap offers customer support via live chat, phone, and email. Its customer support team is available 24/5.
Q: Does Eightcap offer educational resources?
A: Yes, Eightcap offers educational resources such as news and analysis,videos, trading guides, and webinars.
Q: How long does it take to withdraw funds from Eightcap?
A: Withdrawal requests submitted before 1:00 PM AEST/AEDT on business days are processed on the same day. However, the time it takes for funds to reach your account depends on the payment method you use.
Q: Can I open a demo account with Eightcap?
A: Yes, Eightcap offers a demo account that allows traders to practice their trading strategies without risking real money.
Q: What financial instruments can I trade at Eightcap?
A: Eightcap offers a wide range of financial instruments, including forex, indices, commodities, and shares.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Information | Details |
Company Name | RoboForex |
Registered Country/Region | Belize |
Founded in | 2009 |
Regulation | IFSC, CySEC, NBRB |
Tradable Instruments | Forex, Stocks, Indices, CFDs on Futures, Energies, Commodities, Cryptocurrencies, ETFS |
Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, WebTrader, R MobileTrader, R StocksTrader |
Minimum Deposit | $10 |
Maximum Leverage | 1:2000 |
Account Types | Prime, ECN, R StocksTrader, Procent, Pro and Demo Accounts |
Spreads | From 0 pips |
Commission | Depends on account type and instrument |
Deposit Methods | VISA, MasterCard, Bank Transfer, Skrill, Neteller |
Withdrawal Methods | Same as deposit methods |
Education | Webinars, video tutorials, trading strategies, eBooks, economic calendar |
Customer Support | 24/7 live chat, phone, email, social medias |
Additional Features | Copy Trading, VPS, Bonus Programs |
Bonus Program | Yes |
*Please note that the information in this table is subject to change and you should always refer to the broker's official website for the most up-to-date information.
Roboforex, the trading name of Roboforex Cy Ltd, is a forex broker that has been around for over a decade and has made a name for itself in the industry. Founded in 2009, Roboforex is based in Belize, and then became a member of the FSCL, launched a negative balance guarantee service, later added CFD instruments, and introduced gold and CNY trading accounts. Roboforex offers a wide range of trading instruments, including forex, commodities, stocks, indices, and cryptocurrencies, with over 10,000 instruments available for trading. In 2016, Roboforex started creating a proprietary investment platform with a professional analysis centre RAMM and released stock trading. In 2019, the forex broker's tradable instruments reached 11,700, with global updates for the Android and iOS versions of R WebTrader and R MobileTrader, and won more than 20 awards in the financial industry.
One of the key features of Roboforex is its variety of account types. The broker offers several different account options, including Prime, ECN, R StocksTrader, Procent, Pro and Demo Accounts.
In addition to its diverse account types and trading instruments, Roboforex also offers several different trading platforms. The broker supports both the popular MetaTrader 4 and MetaTrader 5 platforms, as well as their own proprietary platform, R Trader and cTrader. These platforms are available for desktop, web, and mobile devices, ensuring that traders can access the markets wherever and whenever they want.
Roboforex also offers various educational resources, including webinars, video tutorials, and market analysis, to help traders improve their trading skills and knowledge. In terms of customer support, Roboforex provides 24/7 multilingual support via phone, email, live chat, and social media.
Roboforex is regulated by the International Financial Services Commission of Belize (IFSC) under license number IFSC/60/271/TS. This means that the broker is required to adhere to strict regulations and guidelines to ensure the safety of its clients' funds and the integrity of its operations. Additionally, Roboforex is a member of the Financial Commission, an independent organization that provides a neutral dispute resolution process for its members and their clients.
Another entity, RoboMarkets, LLC, is authorized and regulated by the National Bank of the Republic of Belarus under the license number of 15.
RoboForex Ltd. is authorized and regulated by the Financial Services Commission (FSC) under license number of IFSC/60/271/TS/17.
Some of the pros of trading with RoboForex include its low minimum deposit requirement, high leverage options, and multiple account types. The broker also provides a variety of trading platforms, including the popular MetaTrader 4 and 5 platforms, and has a useful selection of educational materials for beginners.
However, some of the cons of trading with RoboForex include its limited research tools, lack of transparency in pricing, and the potential for high trading fees. Customer support is not available 7/24 and sometimes, it is slow for them to answer clients' inquiries.
Pros | Cons |
Regulated by CYSEC, NBRB, FSC | Limited educational resources |
Wide range of trading instruments available | Limited research tools |
Low minimum deposit requirement | High commission fees for certain account types |
Generous leverage up to 1:2000 | Withdrawal fees for certain payment methods |
Multiple account types to suit different needs | Limited customer support hours for some regions |
Multilingual customer support offered | No 7/24 customer support |
Multiple user-friendly trading platforms to choose from | |
Free education materials and webinars available for traders | |
Bonus not applicable for some accounts |
RoboForex offers a diverse range of market instruments, including Forex, Stocks, Indices, CFDs on Futures, Energies, Commodities, Cryptocurrencies, and ETFS.
Forex - RoboForex offers trading in over 40 currency pairs, including majors, minors, and exotic pairs. They also offer access to the interbank market, which can provide better pricing and execution.
Stocks - RoboForex offers trading in a wide range of stocks from some of the world's biggest companies, including Apple, Google, Amazon, and Facebook. They also offer access to stocks from emerging markets, providing traders with opportunities for diversification.
Indices - RoboForex offers trading in a range of global indices, including the S&P 500, NASDAQ, FTSE 100, and DAX. This allows traders to gain exposure to the performance of a range of different markets.
CFDs on Futures - RoboForex offers trading in a range of futures contracts, including those based on commodities like gold, silver, and crude oil. This provides traders with opportunities to profit from movements in commodity prices.
Energies - RoboForex offers trading in energy markets, including crude oil, natural gas, and heating oil. This provides traders with opportunities to profit from changes in energy prices.
Commodities - RoboForex offers trading in a range of commodity markets, including gold, silver, and copper. This allows traders to gain exposure to the performance of different commodity markets.
Cryptocurrencies - RoboForex offers trading in a range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. This provides traders with opportunities to profit from the volatility of these markets.
ETFs - RoboForex offers trading in a range of exchange-traded funds (ETFs), providing traders with opportunities to gain exposure to different markets and sectors.
Pros | Cons |
Wide range of trading instruments including forex, stocks, indices, commodities, cryptocurrencies, and more | Limited selection of individual stocks compared to some other brokers |
Commission-free trading on many instruments | Some CFDs have high overnight fees |
Leverage up to 1:2000 for major fx pairs | Limited availability of certain instruments in certain countries |
Access to trading platforms including MetaTrader 4 and 5, as well as cTrader, and its proprietary trading platform | Some trading instruments have wider spreads than other brokers |
Availability of Islamic accounts for clients who follow Sharia law | Trading cryptocurrencies involves high risk |
Options for copy trading and investing in PAMM accounts |
RoboForex understands that each trader is unique and has their own trading needs and preferences. That's why they have created a diverse range of trading accounts to cater to all types of traders.
Prime Account: The Prime Account, one of RoboForex's offerings, is an excellent choice for traders who are looking for low spreads and reasonable commission rates. To start trading, clients only need to deposit a mere $10 into their account. This account type provides traders with access to a maximum leverage of 1:300, which is a great advantage for those who want to make the most of their capital. With this account, traders can enjoy trading 28 currency pairs, precious metals, and CFDs on stocks and cryptocurrencies.
ECN account: RoboForex's ECN account is an exceptional choice for traders who are looking for a trading account with low spreads, high leverage, and a wide range of tradable instruments. With a modest minimum deposit requirement of only $10, traders can take advantage of the account's maximum leverage of 1:500. The ECN account offers an impressive 36 currency pairs, metals, and CFDs on stocks and cryptocurrencies to choose from.
R StocksTrader account: The R StocksTrader account is a lucrative option for traders who are looking to invest in a broad range of global stocks with a minimum deposit of $100. The account offers a generous maximum leverage of 1:500, which provides ample opportunity for traders to capitalize on their investments. The R StocksTrader account offers access to more than 12,000 stocks from around the world, including the major US and European exchanges, making it an excellent choice for traders who are looking to diversify their portfolio.
Procent account: The Procent account offered by RoboForex is a versatile and well-rounded option for traders of all levels, and particularly appealing to those who prefer a more conservative approach to trading. With a minimum deposit requirement of just $10, this account type offers accessibility to a wider range of traders. Moreover, the maximum leverage of 1:2000 allows traders to exercise greater control over their positions. The Procent account offers access to 36 currency pairs and metals.
Pro account: The Pro Account is a sought-after trading account offered by RoboForex. With a modest minimum deposit requirement of only $10, it provides traders with access to an impressive maximum leverage of 1:2000. This means that traders can take larger positions in the market. This trading account grants traders access to 36 currency pairs, including major, minor, and exotic pairs, as well as metals, CFDs on indices, stocks, and cryptocurrencies.
Opening an account with RoboForex is a straightforward process that can be completed in just a few steps.
First, clients need to visit the broker's website and click on the “Open an account” button located in the top right corner of the page.
From there, they will be redirected to a registration page where they can fill out their personal and financial information, including emails, name, mobile phone number and more.
After completing the registration form, clients will need to verify their identity by providing a copy of their government-issued ID and a recent utility bill as proof of address. This step is necessary to comply with international anti-money laundering and know-your-customer regulations.
Once the account has been verified, clients can fund their account through a variety of methods, including bank transfers, credit/debit cards, and electronic payment systems such as Skrill and Neteller. The minimum deposit for most account types is $10, although the R StocksTrader account requires a minimum deposit of $100.
After funding their account, clients can download the trading platform of their choice and start trading in the markets.
Leverage
The maximum leverage of 1:2000 available for the Pro Account and Procent account type is particularly noteworthy, offering experienced traders a chance to pursue even more profitable trades. The Prime and ECN accounts also offer high leverage, ranging from 1:300 to 1:500.
However, it's important to note that high leverage can magnify both profits and losses, so traders should use it carefully and with proper risk management strategies in place.
Here is a table displaying the maximum leverage offered by four popular brokers - RoboForex, FP Markets, IC Markets, and Exness, which can help traders evaluate their options based on their preferred leverage:
Broker Name | Maximum Leverage |
RoboForex | 1:2000 |
FP Markets | 1:500 |
IC Markets | 1:500 |
Exness | 1:2000 |
*It's important to note that leverage can vary by account type, instrument, and regulatory requirements.
RoboForex offers a variety of trading accounts that determine the spreads and commissions charged. For instance, the Procent and Pro accounts provide average spreads starting at 1.4 pips, whereas the ECN account offers an average spread from as low as 0.1 pips. On the other hand, the Prime account entails up to 10% commissions, while the ECN account provides up to 15% commissions. It's essential to note that the trading fees may vary based on the trading instruments used and market conditions. As such, it's advisable to check the spreads and commissions charged for each trading account before making any trading decisions.
The R stockstrader account stands out as a distinctive trading account option offered by RoboForex, which entails a unique commission structure for trading various instruments. For instance, trading US stocks under this account attracts a commission of 0.009 USD per share, while EU stocks command a commission of 0.025 USD per share. CFDs on US stocks are charged a commission of 0.02 USD per share, while for CFDs on EU stocks, the commission is 0.07%. As for trading currencies, a commission of 15 USD is applied for every 1 million base currency traded. The commission for trading indices is variable and subject to changes based on market conditions.
RoboForex also charges non-trading fees, which include fees for deposits and withdrawals, as well as account inactivity fees. Inactivity fees are also charged for accounts that have been inactive for more than 90 days, with a fee of $10 per month applied until the account becomes active again.
RoboForex charges overnight interest, also known as swap, on positions held overnight on certain instruments. The overnight interest rates for long and short positions vary depending on the instrument and the trading account type. The rates can be found on the trading platform or on the broker's website.
RoboForex provides a range of trading platforms to cater to different trading needs and preferences. The most popular trading platforms offered by RoboForex include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are available for desktop, web, and mobile devices, allowing traders to access the markets from anywhere at any time.
MT4 is a widely used trading platform that offers advanced charting capabilities, automated trading features, and the ability to customize indicators and trading robots. MT5, on the other hand, is a more advanced version of MT4, with additional features such as multi-currency strategy testing and more advanced analytical tools.
cTrader is a trading platform designed for ECN trading, with advanced charting tools and fast trade execution speeds. The platform is popular among traders who prefer a more streamlined trading experience.
In addition to these popular trading platforms, RoboForex also offers its own proprietary platforms, including R MobileTrader and R StocksTrader. R MobileTrader is a mobile trading platform that provides access to trading accounts, real-time market data, and order execution. R StocksTrader, as mentioned earlier, is a unique trading account that offers commission-based trading on US and EU stocks.
Lastly, for traders who prefer to trade directly from their web browser, RoboForex offers the WebTrader platform. This platform requires no download or installation and offers a simple, user-friendly interface for trading.
RoboForex offers an impressive range of bonus programs that cater to the needs of different types of traders. The 30 USD welcome bonus is a great incentive for new traders looking to test the waters of live trading. The classic bonus program offers up to 120% bonus on deposits, giving traders additional funds to trade with. The profit share bonus program allows traders to earn up to 60% of the profit generated by their referrals, making it an attractive option for traders who have a large network of contacts. The up to 10% on account balance program is another great way for traders to boost their account equity. The cashback rebate services offer traders the opportunity to earn cashback for each trade they make, reducing their trading costs.
RoboForex offers a variety of deposit and withdrawal options, including VISA, MasterCard, bank transfer, Skrill, Neteller, Perfect Money, AdvCash, VISA, MasterCard, QR & Vouchers, Western Union. Deposits can be made in USD, EUR, GBP, and CHF, and there are no deposit fees charged by the broker. Withdrawals can also be made in the same currencies and are processed within one business day. The processing time for bank transfers can take up to five business days. The minimum deposit amount varies depending on the account type, ranging from $10 for the Prime, ECN, Procent, and Pro accounts to $100 for the R StocksTrader account.
There are no deposit fees, but withdrawal fees may apply depending on the payment method used. For example, withdrawals through AstroPay are subject to a fee of 0.5%, and withdrawals through Skrill and Neteller are subject to a fee of 1% and 1.9%, respectively. Withdrawal fees through VISA, MasterCard/JCB/CUP are subject to a fee of up to 2.6 % +1.3 USD.
Pros | Cons |
Accepatble minimum deposit amount | |
Multiple deposit and withdrawal options available | Most withdrawal options may have fees |
Fast processing times for most deposit methods | Deposit and withdrawal processing times can vary |
No deposit fees for most methods | Some methods may not be available in certain regions |
User-friendly deposit and withdrawal interfaces |
Roboforexs customer support can be reached by telephone: +65 3158 8389 (English), +88 6277414290 (HK), +66 65 965 6091 (Thailand), email: info@roboforex.com, info@roboforex-cn.org. The online chat function is available 24/7, allowing clients to connect with a representative in real-time and receive assistance promptly. Additionally, the company's website has an extensive FAQ section, which provides answers to many common questions about trading accounts, deposit and withdrawal methods, trading platforms, and more.
Besides, clients can also follow up with this broker on some social media platforms, such as Facebook, Twitter, Instagram and Youtube.
Company address: 2118 Guava Street, Belama Phase 1, Belize City, Belize; 9724 Ramiro Duran Street, Belize City, Belize.
Pros | Cons |
24/7 customer support through phone and email | Customer support can be slow to respond sometimes |
Quick response time to customer inquiries | |
Knowledgeable and helpful customer support staff | |
Comprehensive FAQ section available on website | |
Online chat support available on the website |
RoboForex offers some educational resources to help traders improve their skills and knowledge, including a wide range of analytics, comprehensive educational materials, trading tools such as a trading calculator and financial charts, and much more. These resources are designed to help traders stay up-to-date with the latest market trends and make informed trading decisions, but it's important to note that additional independent research may be necessary for more advanced strategies.
To summarize, RoboForex is a renowned online brokerage firm that provides a diverse range of account options catering to various trading requirements. The broker offers an extensive range of tradable instruments, competitive trading fees, and high leverage options. The user-friendly trading platforms come equipped with advanced trading tools, enabling traders to make informed trading decisions. The broker also offers excellent customer support, with multiple channels available for assistance.
While RoboForex presents an excellent trading opportunity, it is crucial to exercise caution while trading with leverage and implement proper risk management strategies.
Q: Is RoboForex a regulated broker?
A: Yes, RoboForex is regulated by several financial authorities, including FSC, CySEC and NBRB.
Q: What trading platforms does RoboForex offer?
A: RoboForex offers a variety of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, WebTrader, R MobileTrader, and R StocksTrader.
Q: What is the minimum deposit required to open an account with RoboForex?
A: The minimum deposit required varies depending on the account type, $10 to open most account types, and $100 to open the R Stockstrader account.
Q: What trading instruments can I trade with RoboForex?
A: RoboForex offers a range of trading instruments, including forex, stocks, indices, commodities, Futures, ETFs, cryptocurrencies, and more.
Q: Does RoboForex offer any bonuses or promotions?
A: Yes, RoboForex offers various bonuses and promotions to its clients, such as a welcome bonus, deposit bonus, and cashback.
Q: Does RoboForex offer any educational resources for traders?
A: Yes, RoboForex provides a range of educational resources, including trading tools, financial news and analysis, webinars, and a demo account for practice trading.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive eightcap and roboforex are, we first considered common fees for standard accounts. On eightcap, the average spread for the EUR/USD currency pair is From 0.0 pips, while on roboforex the spread is Floating from 1.3 pips.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
eightcap is regulated by ASIC,FCA,CYSEC,SCB. roboforex is regulated by CYSEC,NBRB,FCA,FSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
eightcap provides trading platform including Raw,Standard and trading variety including --. roboforex provides trading platform including Pro,Prime,ECN,ProCent,R StocksTrader and trading variety including 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies.