RoboMarkets is a broker that has been functioning since 2012 and has established its headquarters in Cyprus. It is regulated by CySEC. This broker provides many trading instruments, tools, and features to match your needs. It has won several awards, which is enough to consider it a reliable brokerage company.
This broker is audited regularly. CySEC has strict regulatory rules, which are followed by RoboMarkets. It is a member of a fund known has the Investor Compensation Fund. This fund makes sure that the company will have to pay compensation charges per user if it cannot pay the clients. These conditions guarantee its reliability further.
RoboMarkets offers 5 different types of accounts. A demo account is perfect for beginners to get a grip on strategies and tools before they create an actual account. The conditions are the same as they would be on an actual account, except no money is invested which makes it very suitable for new traders.
After that, you can make a Pro account, which is for next level traders. Then there is ProCent account. This account is best if you want to test strategies without depositing too much cash. Next, the Prime account had more exclusive conditions, while the R StocksTrader account is best to invest in stocks.
RoboMarkets offers over 12,000 trading instruments including commodities, metals, energies, indices, and stocks. This wide range allows more people to trade instruments they are familiar with.
This broker has one of the tightest spreads which start from 0 pips. RoboMarkets does not charge any deposit or withdrawal fee, or inactivity fee. Any other possible fees are ranked quite low when compared to some other forex brokers.
Depositing and withdrawing funds
There are no additional costs to withdraw or deposit. You can easily withdraw funds twice a month without worrying about commission charges. Every transaction takes place very quickly and online. You can deposit using bank payments, bank cards, or electronic payments like PayPal. The minimum deposit for this broker is 100 USD while most other brokers have a minimum deposit of $500.
When it comes to withdrawing, you can withdraw cash free of commission, on the first and third Tuesday of each month. To withdraw, all you have to do is login, select the withdrawal option, enter the amount to withdraw, choose the withdrawal method, and confirm the information.
When it comes to trading platforms, RoboMarkets has developed its own platform known as R StocksTrader. Clients can choose to use this platform or the more popular ones, MT4 and MT5. RoboMarkets offers both of these on the web or desktop.
With constant technological evolutions, it is important to have trading apps on your mobile phone too. Therefore, RoboMarkets has made an app you can install on any mobile and monitor updates and trading positions.
This broker has a customer support team which is available to answer your questions 24 hours a day and 7 days a week. This team can support you in 8 different languages and can be reached through live chat, email, or phone numbers. The Customer service has been rated 9 out of 10.
RoboMarkets also offers educational material. The broker has given instructions and tips in detail on how to create your own account, but you can watch videos on its official YouTube channel if video instructions are easier for you. Through the Members Area, you can access analysis, analytics, and other trading tools. It also has features like auto-trading, and financial charts.
RoboMarkets has been operating for over a decade now and has created a good reputation in the industry. With so many instruments, tools, and account types, it has been designed to offer convenient trading for traders of every level. If you do happen to face any issues, the customer support team will help answer your queries. RoboMarkets has proven to be quite an impressive broker overall.