RoboMarkets logo

RoboMarkets Review 2023

By: Plamen Stoyanov
Updated: Nov 28, 2023
Overall Rating
4.2
  • Trust
    4.1
  • Fees
    4.1
  • Platforms and Tools
    4.2
  • Tradable Instruments
    4.1
  • Customer Support
    4.3
  • Research
    4.1
  • Deposit and Withdrawal
    5
  • Account Types and Terms
    4.9
  • Education
    2.1
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart
    Visit our methodology page to learn more about our review and rating process.
    Advertising DisclosureListings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.
    While we adhere to strict editorial integrity, this page may refer to products from our partners. Here's how we make money.

    We performed our tests on an R StocksTrader account using the web-based R StocksTrader platform and the R MobileTrader app. The account was opened with the RoboMarkets Ltd entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with.

    The Big Picture

    RoboMarkets is an Over-the-Counter (OTC) derivatives broker founded in 2012 and headquartered in Limassol, Cyprus. The company comprises two entities with top-tier licensing and regulation. The broker has also issued an indemnity insurance, which is yet another example of its safety and reliability. RoboMarkets is the main sponsor of the German football side Eintracht Frankfurt and is a regular attendee at trading seminars and exhibitions.

    I evaluated RoboMarkets’ trading fees and assessed them to be, generally, two times below the industry average. Another thing I appreciated about the broker is its extremely versatile R StocksTrader platform available on the web and mobile. In addition, RoboMarkets incorporates the popular MetaTrader 4&5 and provides VPS hosting for automated trading.

    RoboMarkets offers 6 retail account types that are very diverse and suitable for the implementation of a wide variety of trading strategies, including hedging, netting, intraday, and day trading. Traders can choose from more than 12,000 trading instruments from different asset classes, most of which are share CFDs and ETFs. The broker also provides reliable customer support and the possibility to deposit and withdraw funds charge-free.

    I, however, assessed RoboMarkets’ average execution speeds of over 200 milliseconds to be quite slow. The broker’s services are thus less suitable for high-frequency trading like scalping. Additionally, RoboMarkets has quite a limited offering of educational content.

    RoboMarkets Key Takeaways 2023

    • RoboMarkets is authorized and regulated by top-tier BaFin in Germany and CySEC in Cyprus. The broker has issued private indemnity insurance and has a ‘best execution policy’ which makes it very safe.
    • The combination of RoboMarkets’ spreads, commissions, and swaps is lower than the industry average and suitable for high-volume trading and longer-term trading.
    • The broker provides 12,000+ leveraged products, mainly in share CFDs and ETFs, along with FX pairs, commodities, indices, and futures that can be traded via 6 very diverse account types.
    • RoboMarkets has developed its own ‘R StocksTrader’ platform and ‘R MobileTrader’ app. Traders can also choose between MetaTrader 4&5.
    • Deposits and withdrawals are free of charge twice a month.
    • Customer support is reliable and available via multiple channels.
    • RoboMarkets affords excellent in-house research materials that provide probing market and trading insights. However, its educational content is ratchet limited.
    • The broker provides VPS hosting which can be used for algorithmic trading. Copy and social trading are also permitted.

    Who is RoboMarkets for?

    Both beginner and advanced traders can benefit from RoboMarkets’ very low trading fees and choice of platforms, though the former have to look for educational content elsewhere. RoboMarkets also caters to the needs of both high-frequency and high-volume traders, though, because of its slow execution speeds, this is less relevant for scalpers.

    RoboMarkets’ offering is also especially well-suited for algorithmic traders. RoboMarkets offers Virtual Private Server (VPS) hosting for a monthly fee of $10, which is relatively low. Its platforms are integrated for algo trading, and the broker has also built an excellent proprietary strategy builder tool.

    What Sets RoboMarkets Apart From Other Brokers?

    RoboMarkets’ R StocksTrader Strategy Builder

    What separates RoboMarkets from other brokers is its R StocksTrader Strategy Builder tool. It allows traders to easily develop strategies for automated trading without having to have a lot of coding skills. I particularly appreciated that the available historical data goes back to 1970 so that you can use more than half of a century’s worth of price action to construct strategies for every market condition.

    RoboMarkets Pros and Cons

    Pros Cons
    • Tight regulation
    • Very low trading fees
    • Wide choice of platforms
    • Versatile account types
    • User-friendly mobile app
    • Slow execution speed
    • Limited educational content

    RoboMarkets Main Features

    ☑️ RegulationsCySEC (Cyprus)
    🗺 Supported Languages
    English, Latvian, Polish, Czech, Estonian, Hungarian, Italian, Spanish, Croatian, Lithuanian, Swedish, German
    💰 ProductsCurrencies, Stocks, Indices, Commodities, Futures
    💵 Min Deposit$100
    💹 Max Leverage1:30 (CySEC )
    🖥 Trading Desk TypeDealing Desk
    📊 Trading PlatformsR Mobile Trader, R StocksTrader, MT5, R WebTrader, MT4, TradingView
    💳 Deposit OptionsSofort, Wire Transfer, Neteller, iDeal, Skrill, Debit Card, Credit Card, Rapid Transfer, Giropay, PayPal, Trustly
    💳 Withdrawal OptionsSofort, Wire Transfer, Neteller, iDeal, Skrill, Debit Card, Credit Card, Rapid Transfer, Giropay, PayPal, Trustly
    🤴 Demo AccountYes
    🗓 Foundation Year2012
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    RoboMarkets Full Review

    Trust

    4.1
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    RoboMarkets is a tightly regulated and very transparent broker. It’s authorized by two top-tier regulators, has issued private indemnity insurance, and operates on a ‘best execution’ principle. RoboMarekts adheres to all essential MiFID II requirements and can be regarded as a very safe broker.

    RoboMarkets Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about RoboMarkets:

    • RoboMarkets Ltd is authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) with CIF License number 191/13. We rate CySEC as a Tier-1 regulator.
    • RoboMarkets Deutschland GmbH is authorized and regulated in Germany by The Federal Financial Supervisory Authority (BaFin) with License number 154068. We rate BaFIN as a Tier-1 regulator. The entity operates under the trade name ‘RoboMarkets Pro’.
    RoboMarkets Ltd’s licensing info on cysec.gov.cy

    We have summarized the most essential aspects of RoboMarkets in terms of regulation and safety in the table below:

    Entity Features RoboMarkets Ltd RoboMarkets Deutschland GmbH
    Country/Region Cyprus / Limassol Germany / Frankfurt am Main
    Regulation CySEC BaFin
    Tier 1 1
    Segregated Funds Yes Yes
    Negative Balance Protection Yes Yes
    Compensation Scheme Up to EUR 20,000 under ICF + up to EUR 2,500,000 under Civil Liabilities Insurance  Up to EUR 20,000 under AnlEntG
    Maximum Leverage 1:30 1:500

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. Both of RoboMarkets’ entities ensure segregated funds, as per MiFID regulation.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. This is especially important in volatile markets. Both entities provide negative balance protection.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. RoboMarkets Ltd participates in the Investor Compensation Fund. Its clients can be compensated by up to EUR 20,000 under the ICF. The entity has also issued a civil liabilities insurance of up to EUR 2,500,000. The German entity of the broker participates in the Investor Compensation Act (AnlEntG) by the Deutsche Bundesbank, and its clients are insured up to EUR 20,000.
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. Retail clients of RoboMarkets can benefit from a maximum leverage of 1:30 with the CySEC entity and up to 1:500 leverage with the BaFin entity.

    Is RoboMarkets Safe to Trade With?

    In addition to the above-mentioned safety features, RoboMarkets has also issued a best execution policy, which is a legal mandate requiring the broker to provide its clients with the most favorable price feeds under prevailing market conditions. The broker has access to a deep liquidity pool from 3 different providers, and it is also periodically audited internally and externally. I also learned that RoboMarkets has a two-step authentication.

    In summary, all of these factors, plus RoboMarkets’ compliance with MiFID II regulation, make it a safe broker to trade with.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

    I checked RoboMarkets’ legal documents, website info, and other general features and determined that the broker is fairly transparent without any glaring issues. I quite liked that you can read crucial business information from the website, such as where the company is registered (under which institutions), how many liquidity providers it has, and who audits it.

    RoboMarekts’ company business profile

    Additionally, I appreciated that RoboMarkets’ platform displays the spread rate between an instrument’s bid and ask prices so that you do not have to calculate the difference yourself.

    In summary, my research indicates that RoboMarkets can be regarded as having a very good level of trust and stability due to the following factors:

    • Regulated and authorized by two top-tier regulators
    • Has issued civil liabilities insurance
    • Very transparent as a whole
    • Has multiple secondary safety mechanisms

    Fees

    4.1
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    RoboMarkets’ spreads are generally below the industry average. Its commissions are volume-based and could be as much as two times lower than the industry average. RoboMarkets’ swaps vary. The broker also affords cost-free deposits and withdrawals. Its inactivity fee is minimal. Swap-free trading is also possible.

    RoboMarkets’ Trading Fees

    RoboMarkets’ Spreads

    I tested RoboMarkets’ spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 3 October 2023. The results are shown in the table below:

    Instrument Live Spread AM Live Spread PM
    EURUSD 0.3 pips 0.2 pips
    GBPJPY 0.9 pips 1.2 pips
    Gold (XAUUSD) 3 pips 3 pips
    Crude Oil 0.02 pips 0.03 pips
    Apple NA 0.02 points
    Tesla NA 0.11 points
    Dow Jones 30 1.60 basis points 1.6 basis points
    Germany 40 1.60 basis points 1.5 basis points

    When broken down by asset class and compared to the industry average, the broker offers low spreads on FX pairs, commodities, and share CFDs, and low-to-medium spreads on indices. The recorded spreads on gold and crude oil are especially low.

    RoboMarkets’ Swap Rates

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full contract (100,000 units) of the base currency.

    Instrument Swap Long Swap Short
    EURUSD Charge of $12 0
    GBPJPY Credit of $3.18 Charge of $20.48

    The recorded swaps are low-to-average compared to the industry average.

    RoboMarkets’ Commissions

    RoboMarkets charges volume-based commissions that vary across its several account types. For the R StocksTrader account, the commission rate depends on the type of instrument and quantity that are traded. There is a $1.5 single-turn ($3 round-turn) commission per traded lot on FX Majors. This is twice as low as the industry average of $6 per lot.

    As a whole, I assessed RoboMarkets’ commissions (on the R StocksTrader account) to be very low on FX pairs, low-to-average on commodities, average on share CFDs, and high on indices.

    RoboMarkets’ Non-Trading Fees

    In general, RoboMarkets affords charge-free deposits and only a couple of cost-free withdrawal options. But twice a month, you can withdraw funds without a handling fee via any available payment system.

    RoboMarkets’ deposits and withdrawal bonus

    If you don’t use your account for 6 months, the company labels it as inactive. A $5 maintenance fee will be charged every 6 months on the leftover balance until it hits $0 or you start using the account again. For comparison, most other brokers charge higher inactivity fees not semi-annually but each month.

    Are RoboMarkets’ Fees Competitive?

    RoboMarkets’ combination of low floating spreads and generally low commissions is quite competitive. It is suitable for both high-frequency and high-volume trading. I consider this pricing mechanism suitable for implementing most types of trading strategies.

    Accounts Comparison

    I have compiled the table below to help you better understand the different costs associated with each of RoboMarkets’ main retail account types.

    The table illustrates the spreads and commissions I have recorded on the EUR/USD pair across the several account types. It shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10.

    To calculate the cost of such a full-sized trade, I used this formula: spread x pip value + commission.

    Account Type* Spread Commission** Net Cost
    R StocksTrader 0.2 pips $3 $5
    Pro 1.4 pips $0 $14
    ECN 0.2 pips $4 $6
    Prime 0.2 pips $2 $4

    *The numbers in this chart are only illustrative and subject to change

    **Round-turn commission

    My tests indicate that executing such a position across most of RoboMarkets’ accounts costs between $4 – $6, which is twice as low compared to the industry average of $10. The only account type that exceeds this benchmark is the Pro account.

    Platforms and Tools

    4.2
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    RoboMarkets has a user-friendly and highly intuitive proprietary platform called R StocksTrader. It has web-based and mobile app versions. The broker also incorporates the renowned MetaTrader 4&5, and TradingView. RoboMarkets is especially well-suited for algorithmic trading due to its multifaceted features.

    RoboMarkets’ proprietary platform allows traders to choose between one-click and double-click trading. The former is suitable for high-frequency trading, while the other is preferred by more risk-averse traders. You can also choose between netting and hedging regimes.

    R StocksTrader’s informative interface

    R StocksTrader is very detailed, and you can gather quite a lot of information about its features. I like that commission and spread info are highlighted so that you can calculate your potential costs before opening a position.

    As I said above, my impression of RoboMarkets is that it’s especially well-suited for algorithmic trading. The R StocksTrader platform comes with an excellent in-built strategy tester, which does not require much coding skills. The broker also affords VPS hosting.

    The R MobileTrader is a very light app that is easy to navigate. It can be used for simplified order execution. I also liked that it is fully integrated with RoboMarkets’ research features so that users can stay informed about current market developments even on the go.

    Last but not least, RoboMarkets’ clients (with R StocksTrader accounts) can also use the seamless TradingView platform, which, in my estimation, ranks among the top 3 platforms in the industry. It boasts hundreds of technical indicators and drawing tools, and scrutinizing price action on it is as easy as it could be. TradingView also comprises the largest social trading community in the world.

    RoboMarkets’ Web R StocksTrader Platform

    R Stocks Trader’s general outlook

    General Ease of Use

    The R StocksTrader platform has a very familiar outlook. Charts are positioned in the middle and order execution info can be found on the left. The strategy builder and account info are found at the bottom of the window.

    I appreciated the inclusion of a search bar, making it easier to navigate through RoboMarkets’ extensive lineup of over 12,000 tradable assets. However, the platform falls short by lacking an alert feature. Another drawback is its limited integration with RoboMarkets’ research material; traders have to visit the client member area to stay updated on current opportunities.

    The platform’s depth of market feature

    Charts

    I consider the chart screen as a platform’s key feature, essential for successful technical analysis of even minor price changes. A good chart should not only display price action clearly but also offer easy scaling and a wide array of technical tools for comprehensive analysis.

    R StocksTrader’s chart screen

    My overall impression of R StocksTrader’s charts is a mostly positive one. It’s flexible and easy to use, making it quite suitable for conducting probing technical analysis.

    I have broken down the available analytical tools and chart configurations below

    • 38 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
    • 5 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels. RoboMarkets’ proprietary platform has a very limited number of drawing tools. Traders might be better off turning to MetaTrader for more diversity.
    • 10 timeframes. The R StocksTrader platform allows multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term. The platform has a ticks configuration, which can be used for scalping.
    • 5 chart types. Price action can be represented as a line, bars, area, or two types of candlesticks. This diversity makes it possible to examine potential trading opportunities from different angles.

    Orders

    Order placing window

    I have broken down the available order types on the R StocksTrader platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    My Key Takeaways After Testing R StocksTrader Platform

    My overall impression of the R StocksTrader platform was positive. First, I tested its practicality with respect to the number and type of strategies that can be implemented. Given its professional-grade strategy tester tool and the availability of VPS hosting, I concluded that the platform is best suited for algorithmic trading.

    The platform also supports one-click trading and low timeframes (thick and 1-sec), which is ideal for scalping, whereas the double-click setting is tailored for more risk-averse traders. I had fun manipulating price action by scaling it up and down and found R StocksTrader’s charts to be very versatile. This is ideal for carrying out sophisticated technical analysis. However, I was surprised at the extremely low number of drawing tools.

    RoboMarkets’ R MobileTrader App

    A watchlist of selected instruments, a chart window, an order placing window, a stocks info window

    RoboMarkets’ mobile app affords traders quick and easy access to the market on the go. It is very useful when you have to check the performance of your running positions and, if necessary, make adjustments. The market is volatile and ever-changing, so staying on top of the latest developments with the user-friendly R MobileTrade app is made easy.

    You can use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. The app is highly customizable, and it makes price action analysis as enjoyable as it could be on a low-resolution device.

    My Key Takeaways After Testing RoboMarkets on the R MobileTrader App

    Though mobile trading apps are generally more limited than their web or desktop counterparts, I quite enjoyed exploring RoboMarkets’ app, which boasts a pleasing design.

    I concluded that integrating RoboMarkets’ market analysis and trading ideas into the app is smart; it’s convenient for traders to stay updated on the go. I also appreciated how easy it is to open and close trades through the app and make adjustments, such as implementing a trailing stop to an existing position.

    My professional advice is to carry out your technical analyses on wide-screen devices and to use the app to access RoboMarkets’ excellent research materials or to adjust your open trades.

    Tradable Instruments

    4.1
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    RoboMarkets offers access to over 12,000 instruments from different asset classes, such as FX pairs, commodities, indices, share CFDs, ETFs, and futures. By far, the greatest diversity can be found among share CFDs and ETFs, which is why RoboMarkets has tailored its other services to cater to the needs of stock traders.

    *The diagram above is part of the FX Empire Review Format and is not related to the RoboMarkets.

    What Are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying asset without physical delivery. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With RoboMarkets?

    I have broken down the available instruments by asset class:

    • 32 Currency Pairs
      Majors (12), Minors (20)
    • 4 Commodities
      Metals (2), Energy (2)
    • +12,000 Shares, Share CFDs and ETFs
      US, Europe, Asia, Other
    • 9 Indices
      US, Europe, Asia, Other
    • 3 Futures
      Indices
    Forex Commodities
    EURUSD | GBPJPY | USDJPY | NZDUSD | CHFJPY | EURAUD  Gold | Crude Oil | Silver | Brent Oil
    Shares & Share CFDs Indices
    Apple | Tesla | Microsoft | Alphabet | Meta | Barclays | HSBC | Alcoa US 30 | US 100 | Nasdaq 100 | Germany 40 | Spain 35 | Japan 225 | France 40
    Futures
    Nasdaq 100 E-Mini | S&P 500 E-Mini | Dow Futures Mini

    Compared to the broader industry, RoboMarkets provides access to a very high number of share CFDs and ETFs, an average amount of FX pairs and indices, and a very low amount of commodities.

    My Key Takeaways After Exploring RoboMarkets’ Tradable Instruments

    RoboMarkets shines in its extensive range of share CFDs and ETFs, making up over 90% of its offerings—mostly focused on U.S. and European markets. This makes it an attractive choice for European traders looking to invest in the world’s two largest markets.

    On the downside, their metal CFDs are limited to gold and silver. Despite offering some of the industry’s lowest gold spreads (around 3 pips during my review) and commission-free trading, I expected a broader metal CFDs selection.

    In summary, RoboMarkets excels in offering a wide array of tradable instruments, particularly in higher-risk, high-yield assets.

    Customer Support

    4.3
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    The broker offers multilingual support over the phone, email, and live chat. Help is available Monday to Friday during office hours. There is also a dedicated FAQ section on the website for more general queries.

    The easiest way to get in touch with RoboMarkets’ support team is via live chat, which is available from the bottom-right corner of the website. You can also reach out to them on Instagram, Facebook, or WhatsApp. Alternatively, you can call their Cyprus office at 25 123275, with a country code (+357). RoboMarkets does not appear to offer a call-back option.

    Customer Support Test

    When we test a broker’s customer support team, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I conducted my test on 4 October at around 12:28 CET via live chat. An agent connected to the chat within seconds, which was appreciated. Their answers were swift and to the point. However, I noticed that the chat window did not display any credentials, such as the agent’s name and position within the company.

    I looked into the commission structure for the R StocksTrader account and consulted with a customer service agent. The agent was knowledgeable and accurate, even providing a link for further details.

    My conversation with RoboMarkets’ support team

    Deposit and Withdrawal

    5
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    RoboMarkets offers multiple payment methods via bank wire, credit card, and various e-wallets. Orders are processed fairly quickly, though transaction times may vary depending on the chosen payment method. The broker does not charge a handling fee for deposits. And twice a month, withdrawals are cost-free for all payment methods. At other times, third-party banking fees may apply.

    RoboMarkets Deposit Methods

    Payment Method Currency Fee Processing Time Limitations
    Credit/Debit Card USD, EUR, GBP, CHF, PLN, CZK 0% Instant From 10 USD
    Barclays Bank PLC EUR, USD, GBP 0% Up to 5 business days From 500 EUR
    Raiffeisen Bank EUR 0% Up to 5 business days From 500 EUR
    Fast Bank Transfer EUR 0% Up to 5 business days 10 – 10,000 EUR
    iDEAL EUR 0% Instant 10 – 10,000 EUR
    Sofort EUR 0% Up to 5 business days 10 – 20,000 EUR
    Rapid Transfer EUR 0% Instant 10 – 5,000 EUR
    Trustly EUR 0% Instant 10 – 10,000 EUR
    Nordea Solo EUR 0% Instant 10 – 10,000 EUR
    Multibanco EUR 0% Instant 10 – 400 EUR
    GiroPay EUR 0% Within 1 business day From 10 EUR
    Przelewy24 PLN 0% Instant 40 – 40,000 PLN
    PayPal EUR 0% Instant 10 – 100,000 EUR
    Skrill EUR, USD 0% Instant From 10 EUR
    Neteller USD, EUR, MYR, IDR, AED, PLN 0% Instant 5 – 10,000 EUR

    RoboMarkets Withdrawal Methods

    Payment Method Currency Fee Processing Time Limitations
    Credit/Debit Card USD, EUR, GBP, CHF, PLN, CZK 2.4% From 1 – 10 business days Up to 10,000 USD
    Bank Wire EUR, USD, GBP 25 USD, 10 EUR, 20 GBP Up to 5 business days From 50 USD, 50 EUR, 50 GBP
    Barclays Bank PLC EUR, USD, GBP 0% Not specified  Not specified
    Raiffeisen Bank EUR 0% Not specified Not specified
    Fast Bank Transfer EUR 0% Not specified Not specified
    iDEAL EUR 0% Not specified Not specified
    Sofort EUR 0% Not specified Not specified
    Rapid Transfer EUR 1% Within 1 business day From 1 EUR
    Trustly EUR 0% Not specified Not specified
    Nordea Solo EUR 0% Not specified Not specified
    Multibanco EUR 0% Not specified Not specified
    GiroPay EUR 0% Not specified Not specified
    Przelewy24 PLN 0% Not specified Not specified
    PayPal EUR 2%* Within 1 business day 10 – 10,000 EUR
    Skrill EUR, USD 1% Within 1 business day From 1 USD
    Neteller USD, EUR, MYR, IDR, AED, PLN 1.9%** Within 1 business day 5 – 10,000 USD

    * Maximum commission rate of 5 EUR

    **No less than 1 USD

    Traders can choose from 15 different payment methods, which is quite high. Deposits are always free of charge regardless of the preferred payment method. Traders can also withdraw funds without having to pay a commission (for all payment methods) on the first and third Tuesdays of each month.

    Account Types and Terms

    4.9
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    RoboMarkets offers 5 retail trading accounts, with a low minimum deposit requirement of $100, and 1 investing account for clients from Sweden. Three accounts offer raw spreads starting from 0.1 pips and fixed commissions, while two accommodate commission-free trading and floating spreads from 1.3 pips. Swap-free trading is also possible. The broker offers 6 base currencies.

    Why is Choosing the Right Account Type Important?

    Your account should reflect your goals, needs, and ambitions on the market. You should take into consideration several factors, such as whether the account type has a minimum deposit requirement, its spreads and commissions, the execution method, and more.

    What Account Types Does RoboMarkets Offer?

    I have broken down RoboMarkets’ account types below:

    Account Type Prime ECN R StocksTrader ProCent Pro  ISK
    Spread Floating from 0.1 pips Floating from 0.1 pips Floating from 0.1 pips Floating from 1.3 pips Floating from 1.3 pips Floating from 0.0 pips
    Commission* From $1 per lot From $2 per lot $1.5 per lot $0 $0 From $0.025 per share
    Platforms MetaTrader 4&5, R StocksTrader MetaTrader 4&5, R StocksTrader R StocksTrader, TradingView MetaTrader 4&5, R StocksTrader MetaTrader 4&5, R StocksTrader R StocksTrader, TradingView
    Account Currency USD. EUR, CHF, GBP, Gold USD. EUR, CHF, GBP, Gold EUR, USD, CHF, GBP, CZK USD. EUR, CHF, GBP, Gold USD. EUR, CHF, GBP, Gold USD
    Stop Out 100% 50% 50% 50% 50% NA
    Minimum Deposit Requirement $100  $100 $100 $100 $100 $500
    Swap-Free No No Yes No No Yes

    *Commission of FX Majors, single-turn

    The minimum deposit requirement with RoboMarkets is $100, making its retail accounts quite accessible to all kinds of traders. You can choose between EUR, USD, GBP, CZK, and CHF as base currencies.

    Based on my calculations, the Prime account emerges as the most cost-efficient option. However, the R StocksTrader account, while carrying slightly higher fees, significantly outshines it in terms of instrument variety, boasting 12,000 compared to the Prime account’s mere 28. It’s also worth noting that the Prime account lacks the option for swap-free trading.

    The Prime account is the only one with a stop-out at 100%, which is better for high-risk/high-yield trading. In comparison, the R StocksTrader and other accounts have stop-out levels at 50%, which is more suitable for more conservative trading because of the lesser risk of account balance blowouts.

    The only drawback to RoboMarkets is the relatively slow execution speeds. According to my chat with their support team, the broker averages between 200 and 400 milliseconds. For comparison, I consider speeds of under 50 milliseconds to be suitable for high-frequency trading. That is why I do not think that RoboMarkets is ideal for scalping. However, this is not a problem for implementing other intraday, day, and position trading strategies.

    RoboMarkets’ Execution Model

    RoboMarkets utilizes market execution. The broker operates without a dealing desk, and order requests are transmitted to the interbank level, where RoboMarkets’ three liquidity providers fill them. As long as there is enough liquidity in the market, all order requests will be filled, though at varying speeds.

    Suppose you wish to go long 100,000 units (1 lot) on the EUR/USD at 1.07650. You place your buy order, but there is not enough liquidity in the market at that price level, not enough to fill your order. Hence, no trade is opened. The price then climbs to 1.07700, where there is enough liquidity to fill that volume, and your trade is finally executed. If the value of 1 pip is $10, then you would have missed a chance to generate a $50 profit due to this discrepancy (5 pips).

    The clear advantage of this model of execution is that with it, you are guaranteed entry, in that your order request will eventually be filled once there is enough liquidity. However, the corresponding disadvantage is that you are exposed to price discrepancies in the form of negative slippage.

    In my experience, market execution is better suited for day trading and position trading strategies where volume is important. But it is less so for intraday trading strategies, such as scalping, where precise order filling is more important.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    RoboMarkets Account Opening Process

    RoboMarkets’ account registration form

    I have summarized the account creation process with RoboMarkets, which is indeed quite straightforward. You can go at your own pace, though realistically, you can be done with everything within an hour. Just follow these easy steps:

    • Step 1. Click the ‘Open an account’ button in green at the top-right corner.
    • Step 2. Fill in your personal information.
    • Step 3. A confirmational email will be sent to the address you have provided.
    • Step 4. Upload proof of ID and address to verify your account.
    • Step 5. Deposit funds to start trading.

    Why is a Demo Account Important?

    RoboMarkets offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

    RoboMarkets’s Supported Countries

    RoboMarkets provides services only to residents of EU/EAA countries.

    Research

    4.1
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    RoboMarkets offers outstanding research materials. Content is developed in-house and covers a wide range of topics. Different types of materials serve different purposes, whether it be to inform the reader about the current market sentiment or of an upcoming trading opportunity. This makes RoboMarkets’ research materials equally well-suited for beginners and seasoned traders. There are, however, no third-party materials.

    Research Tools

    I have broken down RoboMarkets’ various types of content below:

    Research Terminal

    RoboMarkets’ research terminal

    Available from the Client Area, this is where you can access the latest market insights, learn about the most talked-about instruments and potential trading opportunities, learn about upcoming calendar events and access AnalysisIQ.

    AnalysisIQ

    AnalysisIQ

    AnalysisIQ is a segment of the research terminal where you can access RoboMarkets’ trading ideas and choose based on their confidence scores. These scores are derived from multiple factors, such as the analyst’s success track record, overall market conditions, and underlying news sentiment. These ideas rely heavily on technical analysis.

    Signal Centre

    RoboMarkets’ signal center

    The signal center is also a place where you can access multiple trading ideas on various trading instruments. Each signal consists of a confidence gauge, entry and stop prices, and a target level. You can also read when the idea was published and when it expires, what the underlying fundamental justification behind it is, what the next volatility events are, and what the nearest support and resistance levels are.

    Asset

    RoboMarkets’ assets segment

    The assets tool highlights current trading opportunities (both bullish and bearish) on instruments from different asset classes. Most importantly, data points displayed here are calculated on a daily basis, meaning that the information is constantly updated.

    News Screener

    The news screener tool

    The functioning of this tool is pretty self-explanatory. Available from the website, it informs traders of the latest economic releases and financial developments. Keeping track of the latest financial news is essential for carrying out sophisticated fundamental analysis.

    Blog

    RoboMarkets’ blog articles

    RoboMarkets’ blog is available to all visitors of the website. It contains multiple well-researched and highly detailed blog articles about investing (news and strategies), and the stock market as a whole. This is also where you can access RoboMarkets’ educational content.

    Economic Calendar

    The economic calendar serves as the most basic research tool. It informs traders of upcoming economic releases that are likely to cause upsurges in market volatility. This creates potential trading opportunities. The economic calendar shows how the market is likely to react to specific events.

    My Key Takeaways from Exploring RoboMarkets’ Research Materials

    I appreciate brokers who spend time and energy developing their own research materials, even though they are not required to do so.

    I went over RoboMarkets’ various research materials and found them well-informed and highly practical. I quite liked that most of them combine technical and fundamental analysis in order to deliver more multifaceted opinions. However, I would have liked to see more emphasis on the psychology of trading.

    While RoboMarkets’ content is probing and covers a wide range of topics, the incorporation of third-party materials (from TradingCentral or Autochartist), which is currently lacking, would give traders the chance to examine the same trading opportunities from different angles.

    Education

    2.1
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    RoboMarkets’ educational resources focus mainly on a select range of written articles. While the broker may not offer a wide array of videos or frequent YouTube content, it provides valuable insights through its blog, which is primarily geared toward investing. The platform concentrates on quality over quantity, offering in-depth knowledge for those interested in investment strategies.

    Educational articles

    At the time of the review, RoboMarkets’ blog consisted of 27 articles that were mostly focused on stock trading and investing. They cover topics such as ‘How to analyze stock charts’ and ‘What is a share buyback’. However, no attention is paid to practical trading subjects relating to technical or fundamental analyses. While very informative, I cannot consider these 27 articles enough to satisfy the needs of beginners. It’s also noteworthy that the last entry in the blog was published 6 months ago.

    Additionally, there are multiple videos available from the broker’s YouTube channel from which you can learn practical tips, such as how to use its proprietary platform and how to set up an account with RoboMarkets. The remaining videos are dedicated to investing topics and not to trading.

    The different trading sessions

    Even though not a major educational tool on its own, I quite liked that RoboMarkets has listed the various trading sessions; when they are active, and which markets are affected. FX traders can benefit from this by learning when the three major sessions – UK, Europe, and US – overlap, which is when trading activity tends to pick up. Additionally, stock traders (RoboMarkets’ offering is generally geared towards them) can learn when various markets open and close.

    RoboMarkets has also developed a practical glossary with a flexible design.

    RoboMarkets’ glossary

    The Bottom Line

    RoboMarkets stands as a reputable broker with a robust offering, granting access to an expansive range of over 12,000 leveraged products across diverse markets. Established in 2012 and headquartered in Limassol, Cyprus, it excels in gold trading via its R StocksTrader account and is also well-suited for algo trading. The broker operates under stringent regulations, being licensed by top-tier entities like CySEC in Cyprus and BaFin in Germany.

    Among the highlights of RoboMarkets are its competitive spreads and commissions, varied account options, and a wide array of tradable instruments. The broker employs industry-standard MetaTrader 4&5 platforms while also offering a top-notch proprietary platform. Its suitability for algo trading is enhanced by an integrated strategy tester and VPS hosting. Additionally, RoboMarkets provides valuable and actionable research resources.

    With regards to the areas where there is still room for improvement, I consider RoboMarkets’ average execution speed of between 200-400 milliseconds to be quite slow. Additionally, the scope of its educational content is rather limited.

    Overall, RoboMarkets is equally suitable for beginners and experienced traders. It also accommodates intraday trading, though scalping is not recommended because of the poor execution speeds. Given its low costs and sophisticated platform, RoboMarkets is much more suitable for day trading and position trading.

    FAQ

    RoboMarkets is headquartered in Limassol, Cyprus. It also has offices in Germany, Sweden, and the Czech Republic.
    RoboMarkets is authorized by two top-tier regulators, has a very transparent website, and adheres to all essential safety requirements. The broker has also issued civil liabilities insurance and a ‘best execution policy’. Overall, it can be considered very safe to trade with.
    Yes, RoboMarkets is good for beginners because it offers low trading costs and a choice of versatile platforms. The broker, however, has very limited educational materials.
    The minimum deposit requirement with RoboMarkets is $100.
    Clients of RoboMarkets can withdraw funds via bank transfer, bank card, or e-wallet.
    Wire transfers typically take between 3–5 business days. Other payment methods vary.
    The maximum leverage for retail traders with RoboMarkets is 1:30.
    Accounts can be opened from the main page of the website.
    Traders can choose between trading on RoboMarkets’ proprietary ‘R StocksTrader’ platform or either MetaTrader 4 or 5.
    Yes, it does.
    RoboMarkets offers low trading fees and access to deep liquidity. Its platform has low timeframes and affords one-click trading. However, the broker’s execution speeds are quite slow for scalping.
    Yes, RoboMarkets is especially well-suited for auto-trading. It has developed an excellent strategy tester tool and provides VPS hosting.
    Yes, hedging is available with RoboMarkets.
    No. Spread betting is not available with RoboMarkets.
    Yes, it does.
    Depends on the particular asset class. For instance, the Forex market is open 24/5, whereas shares of U.S. companies can be traded during the New York Stock Exchange (NYSE) open – Monday to Friday from 09:30 a.m. to 4:00 p.m. EST.
    No, RoboMarkets operates without a dealing desk and provides market execution.
    No, RoboMarkets does not operate a bank.

    See RoboMarkets Full Information

    Headquarters CountryCyprus
    Foundation Year2012
    RegulationsCySEC (Cyprus)
    Publicly TradedNo
    Number Of Employees100
    Trading Desk TypeDealing Desk
    Trading PlatformsR Mobile Trader, R StocksTrader, MT5, R WebTrader, MT4, TradingView
    Restricted Countries
    Honduras, Egypt, Samoa, Algeria, Bahamas, Bahrain, Barbados, Belarus, Belize, Benin, Bhutan, Bolivia, Burkina Faso, Burundi, Cameroon, Canada, Cape Verde, Chad, China, Colombia, Congo, Costa Rica, Cote dIvoire, Cuba, Djibouti, Dominica, Ecuador, Equatorial Guinea, Eritrea, Gabon, Ghana, Jamaica, Jordan, Kazakhstan, Kenya, North Korea, South Korea, Nauru, Kuwait, Kyrgyzstan, Laos, Lesotho, Guinea-Bissau, Guyana, Malaysia, Liberia, Sao Tome and Principe, Namibia, Palau, Malawi, Maldives, Mali, Mauritania, Mexico, India, Micronesia, Morocco, Nepal, New Zealand, Nicaragua, Indonesia, Niger, Nigeria, Oman, Papua New Guinea, Peru, Qatar, Gibraltar, Iran, Grenada, Guatemala, Guinea, Iraq, Rwanda, Afghanistan, Curacao, Tonga, Guam, Cayman Islands, Swaziland, Bermuda, Suriname, Senegal, United States, Zambia, Angola, Timor-Leste, Marshall Islands, Australia, Paraguay, Cook Islands, Antigua and Barbuda, United Kingdom, Tunisia, New Caledonia, Trinidad and Tobago, Northern Mariana Islands, Somalia, Puerto Rico, Togo, Argentina, Mongolia, Azerbaijan, Bangladesh, Russian Federation, Macao, Uruguay, Turkmenistan, Solomon Islands, Venezuela, Yemen, Tuvalu, Botswana, Brazil, Uganda, Syria, Seychelles, French Polynesia, Sierra Leone, Ukraine, Uzbekistan, Brunei, Cambodia, Central African Republic, Chile, Comoros, Dominican Republic, El Salvador, Saudi Arabia, Lebanon, Mayotte, Madagascar, Aruba, Ethiopia, Taiwan, Fiji, Vanuatu, Gambia, Panama, Israel, Singapore, Tajikistan, Mauritius, Vietnam, Japan, South Africa, Virgin Islands, British, Tanzania, Isle of Man, Guernsey, Kiribati, Libya, Mozambique, Myanmar, Pakistan, Philippines, Haiti, Hong Kong, South Sudan, Sri Lanka, Sudan, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Thailand, United Arab Emirates, Zimbabwe, Faroe Islands
    Supported Languages
    English, Latvian, Polish, Czech, Estonian, Hungarian, Italian, Spanish, Croatian, Lithuanian, Swedish, German
    Min Deposit$100
    Max Leverage1:30 (CySEC )
    Deposit OptionsSofort, Wire Transfer, Neteller, iDeal, Skrill, Debit Card, Credit Card, Rapid Transfer, Giropay, PayPal, Trustly
    Withdrawal OptionsSofort, Wire Transfer, Neteller, iDeal, Skrill, Debit Card, Credit Card, Rapid Transfer, Giropay, PayPal, Trustly
    Time to Withdrawal2
    Time to Open an Account9
    Products
    Currencies, Stocks, Indices, Commodities, Futures
    Demo AccountYes
    OCO OrdersYes
    Offers HedgingYes
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityYes
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    AutochartistNo
    Trading SignalsYes
    Platform Languages
    Turkish, Korean, Hebrew, English, Danish, Russian, French, Indonesian, Dutch, Portuguese, Latvian, Thai, Slovak, Polish, Czech, Arabic, Estonian, Hungarian, Bulgarian, Italian, Slovenian, Spanish, Chinese, Croatian, Lithuanian, Farsi, Japanese, Swedish, Greek, Serbian, Vietnamese, Malaysian, German, Romanian
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsNo
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

    Why you can trust FX Empire

    At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

    Why you can trust FX Empire

    FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.
    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61.41% 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.