RoboMarkets Review 2019 | Is RoboMarkets a Scam or Legit Forex Broker?
Rating breakdown
RoboMarkets Overview
RoboMarkets Ltd is an online Forex and CFD brokerage firm founded in 2012. The Head Office is located in Limassol, Cyprus. RoboMarkets Ltd is part of the RoboMarkets Group Holding, an investment group of companies with Head Office in Cyprus.
| # | Broker's Features | ROBOMARKETS Availability |
|---|---|---|
| # | Commissions | ✔ |
| # | Hedging | ❌ |
| # | PAMM | ❌ |
| # | Scalping | ❌ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ❌ |
| # | Swaps | ❌ |
| # | Demo account | ✔ |
| # | Daily analysis | ❌ |
| # | Automated trading | ❌ |
| # | Mobile trading | ❌ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ❌ |
| # | Bonuses Promotions | ✔ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ✔ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review RoboMarkets.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. RoboMarkets offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Cryptocurrency.
Tradable Products: Choose from over 11,700 trading instruments available for trading including 50 currency pairs, 7 cryptocurrencies, 3000 stocks, and 9 indices
Broker Type: Many types of brokers can be found in the most dynamic market in the world. RoboMarkets is Dealing Desk, DMA, ECN, Market Maker, No dealing d.
Features: RoboMarkets offers clients the MT4, MT5, R Trader and R WebTrader platforms. The tools include the copytrade which allows you to automate trading strategies without having to code.
As a market maker, RoboMarkets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. RoboMarkets recommended minimum capital is $100.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. RoboMarkets is regulated by CySEC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: RoboMarkets is regulated by CySEC and complies with stringent regulatory requirements. They protect client funds through segregated accounts and have to be modest in their client offering and marketing techniques to traders
Languages Available: Next lets have a look at each broker's different Language options. RoboMarkets offers Czech, English, Estonian, German, Italian, Latvian.
Payment methods: Next lets have a look at each broker's payment options. RoboMarkets offers China UnionPay, Credit/Debit Cards, FasaPay, iDeal, Neteller, QIWI, Skrill different payment methods for each account types.
Deposit and withdrawal: With Robomarkets, there are several ways of making payment. These include e-wallets, credit/debit cards, and wire transfer. Their deposit fee is 0% but they do charge withdrawal fees depending on the payment method you use. Processing times start from the same day
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, RoboMarkets makes MT4 available to clients.
Web & Desktop Trading Platforms: The platforms provided are MT4, MT5 and the Web based platforms R-WebTrader and R-Trader.
Mobile Trading Platforms: The R Mobile Trader is RoboMarkets’ proprietary mobile application. It is available through download for Android and iOS devices. The MT4 and MT5 trading platforms are also available for trading on the go.
Trader Education
Educational webinars are available to guide you through strategies and to help you learn about analytical tools and some videos plus articles are available.
Promotions
RoboMarkets offers no promotions or bonuses as it is a CySEC regulated broker
Support
Swift and efficient customer support representatives are always ready to assist on a 24/7 basis via phone. Callback. Email, contact form, and live chat. Lice chat is almost instant and the reps are well trained
Recup
RoboMarkets is an interesting broker with their own proprietary platform and a strategy builder platform, plus plenty of mobile apps across MT4, MT5 and R Trader. They have a wide selection of assets and an in-depth research section of the website.
Final Thoughts
There are virtually no educational materials, multiple analyses methods are used to provide market insight to assist the trader.
Trading Experience
A very robust offering with a wide selection of assets and platforms for all kinds of traders from beginner to pro. This broker truly caters to all.