RoboMarkets Review 2019

Regulated By:CySEC

Foundation Year:2012

Headquarters:Promachon Eleftherias, 19, Limassol 4103, Cyprus

Min Deposit:$100

Open Account

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • Demo Accounts

These accounts are for practice purposes, so, no deposit is required. The account currency is USD and it features floating spreads. The MT4, MT5 and R WebTrader platforms are available for Demo accounts.

  • Demo Pro

The spread starts from 1.3 pips. 36 currency pair, Metals, and Cryptocurrencies can be trading with this account.

  • Demo ECN-Pro NDD

36 Currency pairs, Metals, CFDs and Cryptocurrencies are available for trading. The floating spreads start from 0 pips.

To open an account, click on “Open an Account” which is located on the menu bar. Fill the form and you can start trading with a demo account in minutes. To open a real account, further documentation and verification is required.

RoboMarkets states clearly that their service is only for residents of the EU and EEA countries.

Deposit & Withdrawals options

“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”

RoboMarkets states that their deposit fee is 0% but they do charge withdrawal fees depending on the method adopted. The payment options are grouped into three categories:

  • Bank Payments:
  1. Blue Orange: Available in EUR, CHF, PLN, and CZK. The minimum transaction amount is 500 EUR. The processing time takes up to 5 business days. The withdrawal fee is €35.
  2. Trustly/Nordea Solo: The transaction currency is EUR and it is only for deposits. The amount range is € (10 – 10,000) and it is processed instantly.
  3. Fast Bank Transfer/Sofort/iDEAL Methods: Only for deposits in EUR. It takes up to 5 working days and the range is €10 – €10,000.
  4. Rapid Transfer: Deposits are instant and the accepted amounts are €10 – €5,000. For Withdrawals, 1% fee is charged and it takes 1 minute to 1 day to process.
  5. Barclays Bank Plc Transfer:  Available in EUR, USD and GBP. The minimum transaction amount is €500 and it takes up to 5 bank working days to complete. Withdrawal fee is 40 GBP.
  6. Deutsche Handelsbank: Available in EUR. Minimum amount is €500 and the processing time takes up to 5 days. Withdrawal fee is €35.
  • Electronic Payments:
  1. WebMoney: Available in USD and EUR. The deposit is instant and from $10. Withdrawals take up to a day and it’s from $0.02. Withdrawal fee is 0.8%.
  2. Skrill: Available in USD, EUR, MYR, INR, AED and PLN. Instant deposits from $10. Withdrawal fee is 1% and it take from a minute to a day. Minimum withdrawal amount is $1
  3. Fasapay: Available in USD and IDR. Deposit range is $10 to $20,000 and it is processed instantly. Withdrawals are charged at 0.5% and it take from 1 minute to 1 day. The withdrawal range is $0.1 – $20,000
  4. Neteller: Available in USD, EUR, MYR, INR, AED and PLN. The deposit is instant and the range is $10 – $50,000. Withdrawals fees are 1.9% and it takes 1 minute to 1 day to process.
  5. Qiwi Wallet: Available in USD and EUR. Deposits are processed instantly and the range is $0.03 to $950. Withdrawals take from 1 minute to 1 day and ranges from $1 – $3,800. No withdrawal fees are charged.
  6. ePayments: Available in USD and EUR. Deposits are from $10 to $10,000 and processed instantly. The withdrawal take 1 minute – 1 day and the range is $1 to $10,000. Withdrawals are charged at 1%.
  7. Euteller: This method is used for only deposits in EUR. Transactions are processed instantly and the range is €10 – €1,000.
  8. ePay.bg: Deposit only in EUR. Range is €10 to €10,000.
  • Bank Cards:
  1. Visa/MasterCard: Available in Multiple currencies. Minimum deposit is $10 and maximum is between $10,000 to $100, 000 depending on the gateway processors. Deposits are processed instantly while withdrawals to card take 1 – 10 bank working days. Maximum withdrawal amount is $10,000 and the charge is 2.4%.
  2. Maestro Card: Used only for deposits in EUR. Deposits are processed instantly and the range is €10 – €10,000.
  3. China UnionPay: Only for deposits in CNY. The amount is 100 CNY to 18,500 CNY and it is processed instantly
  4. Carte Bleue/Dankort: Used only for deposits in EUR. Amount ranges from €10 to €10,000 and processed instantly.

Web & Desktop Trading Platforms

“The platforms provided are MT4, MT5 and the Web based platforms R-WebTrader and R-Trader. ”

RoboMarkets provides the MT4 trading platform which is well known and accepted among Forex traders. It must be mentioned that RoboMarkets and the international brand of the company (Roboforex) share the same MT4 and MT5 platforms.

The features on this platform are exhaustive. Some of these are listed below:

  • Choose from 30 indicators across 4 indicator classes (trend, oscillators, volume and Bill Williams). You can also add your own custom indicators.

Add custom indicators and expert advisors using the Data Folder. Click on File -> Open Data Folder. This will open the Data folder for the RoboMarkets MT4 on your computer.

Click on MQL4 folder, then click on Experts to add your custom EAs, or click on Indicators to add your custom indicators.

Other features include various chart functions and settings, all located under the Charts tab.

You can select chart type, insert or remove grid lines, enable/disable the Auto Scroll function (to be able to scroll charts back and forth), zoom in and out of charts, and refresh charts for updated price information.

MT5

RoboMarkets also offers the MT5 platform, which shares many of the features of the MT4 but with some improvements. Some of these improvements are as follows:

  • A cutting-edge technical analysis provided by Trading Central.
  • The “Tools” on MT4 have been renamed as “Objects”, and some of the commonly used Objects such as the trendline tool have been highlighted separately to enable easy access to the trader.

The Economic Calendar has been added as a separate tab on the Terminal Window.

New tools have been added to the Navigation Bar. For instance, you can now save the active chart by the click of a single button, which reduces the process from 3 steps on the MT4 to a single step process on the MT5.

R Trader

The R Trader is a web based platform developed by UMSTEL company. Here are some features of the R  Trader.

  1. The interface has a display which shows two charts, as well as the toolbar above the charts.
  2. The asset listing is shown on the right, with the current closing prices of each asset displayed clearly.
  3. At the bottom of the charts, we have another set of navigation tabs which display the active positions, trade history, active orders, and strategies.

You can also choose the preferred chart layout for your interface by clicking on the relevant tool at the top of the chart:

We also have the top navigation bar, which allows a selection of the following features:

  • Asset choice
  • Chart layout
  • Time frames
  • Chart types (bar, line, candlestick)
  • Zoom tool
  • Settings
  • Line tool
  • Indicators
  • Channel tools
  • Crop tool

The R Trader is visually appealing and is not hard to use, even for beginners.

R WebTrader

R WebTrader is a web-based platform which runs on your MT4 account. This is also dynamic for mobile trading. Additional features include:

  • 13 indicators
  • 9 tools for graphic analysis
  • Convenient account management
  • Exclusive analytics from RoboMarkets
  • Free access

Here’s some of the main features Web Trader:

You can make changes to the parameters of your charts. These include timeframes and chart types.

Quick trade is your one click trading option.

To create a new order, set up a stop loss or pending order you can do that by clicking on the blue New Order button.

Open positions and order are available at the bottom of the screen.

All indicators and graphical analysis tools are in the top box.

Ramm Trading

The Ramm platform is an investment platform that has two main features that set it apart from the other available platforms. These are the higher risk management and proportional allocation of profit. The first feature offers the highest level of risk management accuracy. The second feature protects investments from both dishonest traders and unprofitable strategies.

CopyFX Platform

This Copy trading platform allows you to browse through the stats of a variety of traders and copy their trades in a simple and streamlined way. To start you need to select the amount of money you want to invest in following other traders. You have 20 available deposit methods and The minimum investment is 100 USD. You can pause and stop copying at any point.

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.”

The R Mobile Trader is RoboMarkets’ proprietary mobile application. It is available on Android and iOS mobile devices or it can be used through a browser.

While it might be a stripped down version of the desktop, the mobile version contains the following features:

  • Full access to Analytics and news
  • Deposit of funds into account
  • Instant trading and order management
  • Available in multiple languages.
  • Live support available
  • 13 indicators
  • 9 tools for graphic analysis

The MT4 and MT5 trading platforms also have their mobile versions available for trading. These are also available on Android and iOS devices. You can use these to stay on top of the market news, to trade and manage your account. A lot of features from the web and desktop platforms do not appear on the mobile apps like EA’s, customisation tools and all the indicators.

Trading 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.”

RoboMarkets offers clients a selection of platforms which include the MT4, MT5, R Trader and R WebTrader platforms as well as the strategy builder. This allows you to automate your trading without needing to build your own code or robots (Strategy Builder is part of the R Trader platform).

Some other tools provided by RoboMarkets include the following:

  • Traders’ Calculator

Allows you to calculate transaction costs simply in real time.

  • A Virtual Private Server (VPS) is provided for traders who use Mechanical Trading Systems (MTS) or Expert Advisors (EAs). The cost is $10 per month.
  • Economic calendar
  • Features all the major indicators and data releases and their potential impact on the currency pairs.

     

    • Platforms

    The MT4 is the most widely used platform among Forex and CFD traders. It is sophisticated with lots of charts, indicators, and customizations. Some of the Features of MT4 are:

    • 3 types of interactive charts.
    • 50 inbuilt indicators used for technical analysis
    • One-Click trading
    • Meta Trader market where indicators and robots could be acquired.

    The MT5 is a more recent and modern trading platform designed to outperform and replace the MT4. It has improved features of the MT4.

    Some features of the MT5 are:

    • Flexible Trading Systems
    • Virtual Hosting
    • Multiple indicators and timeframes
    • 6 Types of Pending Orders

    R Trader is a new trading platform with advanced charting abilities. Over 11,700 instruments can be traded on the platform. The R Trader features include:

    • Access to markets all over the world from a single platform.
    • Full Customizations and trading from Charts
  • R WebTrader is the proprietary Web terminal from RoboMarkets. It has a mobile version and a web version.
  • R WebTrader has the following features:

    • 13 indicators
    • 9 graphic analysis tools
    • Access to analytics and news

    Commissions & Spreads

    “Spreads are low and start from O pips; with provision of floating and fixed spreads are available”.

    The list below shows the spreads of popular instruments as obtained from the RoboMarkets’ Website.

    INSTRUMENT

    SPREAD

    INSTRUMENT

    SPREAD
    CURRENCY STOCK CFDs
    EURAUD 1.2 GOOGL 0.6
    EURCAD 1.3 FB 0.03
    EURCHF 1.2 AMZN 0.5
    EURGBP 1 NFLX 0.41
    EURJPY 0.7 VOW.DE 0.1
    EURNZD 1.7 MSFT 1
    EURPLN 6 IBM 1
    EURTRY 5.6 VZ 1
    EURUSD 0.1 INTC 1
    CADCHF 1.2 LLY 1
    CADJPY 1.1 HPE 1
    CHFJPY 1.3 PFE 1
    GBPAUD 1.4 JNJ 1
    GBPCAD 1.6 EA 1
    GBPCHF 1.5 BA 2
    GBPJPY 0.9 ORCL 1
    GBPNZD 2.3 ATVI 1
    GBPUSD 0.7 NVDA 1
    NZDCAD 2.4 CAT 1
    NZDCHF 0.9 CSCO 1
    NZDJPY 1.2 MMM 1
    NZDUSD 1.1 ADBE 1
    USDCAD 1 GE 1
    USDCHF 0.8 TSLA 1
    USDCNH 3 NKE 1
    USDJPY 0.4 CMCSA 1
    USDMXN 15 GM 1
    USDPLN 6.5 DIS 1
    USDRUB 2.1 PM 1
    USDTRY 1.8 TWX 1
    USDZAR 17 PG 1
    METALS PEP 1
    XAGUSD 1 FOXA 1
    XAUUSD 8 KO 1
    CFDs AAPL 1
    DE30Cash 0 UPS 1
    US500Cash 0.35 BRK.B 1
    USTECHCash 0.6 MCD 1
    US30Cash 0.9 PRU 1
    BRENT 2.4 SBUX 1
    WTI 2.2 PYPL 1
    CRYPTOCURRENCIES GS 1
    BTCUSD 21.9 WMT 1
    ETHUSD 1.6 DAL 1
    XRPUSD 0.07 WFC 1
    LTCUSD 0.7 XOM 1
    DSHUSD 6.5 CVX 1
    BCHUSD 22.9 MON 1
    EOSUSD 1.2 NEM 1
    COMMODITIES JPM 1
    CORN 0.72 BAC 1
    SGAR 0.12 EBAY 1
    SOYB 1.41
    WEAT 0.03

    *all of these figures are according to the broker’s website at time of writing review.

    Bonus & Promotions

    “RoboMarkets offers no promotions or bonuses as it is a CySEC regulated broker”

    No bonuses are available to clients. There are also no promotions. This is in keeping with CySEC regulations which prohibit the issuance of bonuses.

    Customer 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”.

    1. Phone Support: 11 phone numbers are provided, one for each of the 11 available support languages. For support in English, call: +357 25 123275.
    2. Callback: Input your phone number in the “ask a question” textbox and a representative will call you.
    3. Email: info@robomarkets.com or info@robomarkets.de
    4. “Send as a Message” consists of a form that can be used to contact support on the website.
    5. Online Web Chat: Anytime, anyday, the chat representatives are available in 11 languages ready to help.

    The support teams are quick and very active. The web Chat representative took less than 40 seconds to respond when a chat session was initiated.

    Research

    “Each day 5 pieces of analysis are released to the website for different indicators. There is also a FREE subscription analytics section that traders can register for which contain regularly updating market sentiments.”

    Market research on RoboMarkets comes in the form of daily analyses. The following modes of market research are provided:

    • Ichimoku Cloud Analysis: This is a type of chart used in technical analysis.
    • Murrey Math Lines: This consists of 8 pivot points whereby every one of the lines means something different to the price action.
    • Forex Technical Analysis and Forecasts: This predicts the fluctuations and behavior of currency pairs based on history and other factors.
    • Fibonacci Retracement Analysis: This technical Analysis determines support and resistance levels.
    • Japanese Candlestick Analysis: This is a style of chart used to track movements of a currency.

    There is also a FREE subscription analytics section that traders can register for which contain regularly updating market sentiments.

    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.”

    The website has an educational center which only contains articles on how to open an account and a few beginner steps on how to trade forex. Educational videos are advertised but none are found on the website.  This is pitched at both beginner and more experienced traders. There are also webinars advertised which can help traders learn of trading strategies and techniques.

    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.”

    This brand caters to all levels of traders. They have a special section which is built just for professionals. This includes specific services like VIP and cashback and also dedicated promotions built with pros in mind. Additionally the extremely wide selection of assets and tools available are perfect for more experienced traders.

    Nevertheless the platforms are all easy to use and can be equally suitable for beginners. There are educational videos and webinars which can help beginners master the art of trading and a wide selection of analytics which is suitable for beginners and pros alike.

    FAQ

    Where is RoboMarkets based?

    RoboMarkets is based in Cyprus.

    How does RoboMarkets make money?

    They make money from the spread charges and commissions.  They are both a dealing desk and direct market access broker. They pass trades on to the interbank and they also take the other side of trades depending on which trading account you choose to go for.

    How do I deposit in RoboMarkets account?

    By Using Bank Payments like BlueOrange, Barclays, Fast Bank Transfer, Sofort, Rapid Transfer, Trustly, Nordea, Deutsch Handelsbank.

    Or Using eWallets like: WebMoney, Skrill, Fasapay, Neteller, Qiwi wallet, ePayments, Euteller and ePay.bg

    Or Using Bank Cards like Visa/Master Card, Maestro, China UnionPay, Carte-Bleue and Dankort

    Using Credit/debit cards, bank transfer, FasaPay, Skrill, Neteller, ePayments, POLi, China UnionPay

    What is the min. deposit for RoboMarkets?

    Minimum deposit is $100

     What is the max leverage in RoboMarkets?

    The Maximum leverage is 1:30 which is the limitation for traders through the regulated brand. However professional traders may get a higher leverage by contacting the company directly.

    How do I open an account with RoboMarkets?

    Click on “Open an Account” on the Menu bar and fill the form.

    Does RoboMarkets use MetaTrader?

    Yes, RoboMarkets offers the MT4 and MT5 platforms.

    Conclusion

    “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.”

    RoboMarkets is a reputable, award winning broker that offers its services to the EU and EEA countries. The brand is regulated by CySEC. As a regulated brand which is required to provide maximum investor protection, the brand provides adequate security of investor’s fund, data and funds. You can also find modern, sophisticated and powerful platforms with multiple instruments for trading. Several payment methods are available and transaction charges are low.

    There is also a responsive customer support which is available in 11 languages. Though, there are virtually no educational materials, multiple analyses methods are used to provide market insight to assist the trader.

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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    Alex Un
    5/5
    Reliability:
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    Platforms:
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    Assets:
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    Support:
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    Hi-profile brokerage

    Best trading conditions on the European market I could find.

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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    RoboMarkets

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.