RoboForex

RoboForex is a rapidly growing broker that was established in 2009. Initially, the company specialized in providing tradable currency pairs to its clients. As of today, the broker offers more than 12,000 instruments across 8 asset classes. RoboForex serves more than a million clients from 169 countries and has already collected more than 30 prestigious industry awards.

The company’s head office is located in Belize. The broker didn’t go far from its home office in searching for a regulator. RoboForex is authorized and regulated by the Belizean financial regulatory body with a license No. 000138/437, namely the Financial Services Commission (FSC). Unfortunately, the broker only has a single regulator and the FSC is known to be only mildly strict. In today’s review of RoboForex, we are going to discuss super important aspects of this broker. Including fees, regulations, account opening process, account types, and more. In addition, we’ll compare the prices of RoboForex with other brokers in order to assist in the decision-making process.

RoboForex Summary

RoboForex provides access to more than 12,000 trading instruments. Tradable assets include Forex, indices, commodities, metals, energy commodities, stocks, ETFs, and cryptocurrencies. Most of the portfolio consists of stock CFDs. CFD trading gives the advantage of fast execution due to high liquidity and low short-term trading fees. In addition, CFDs can be traded by going in long or short positions. It should be noted that while CFD trading is preferred by short-term speculators, long-term investors prefer investing in real stocks.

Forex trading

As already mentioned, initially RoboForex solely specialized in Forex before expanding its offerings to other markets. The broker offers 40 currency pairs, which is not that impressive when compared to other Forex brokers.

Spreads start from 0 pips and execution speed is from 0.1 seconds. On the other hand, the commission is pretty high. The Commision-free account type offers a 1.3 pip spread. The leverage offered is up to 2000:1. Keep in mind that high leverage can increase your profits as well as your losses.

Stock CFD trading

The broker offers access to an impressive amount of stock CFDs. As we already explained, stock CFDs are best traded short-term, whereas long-term investors prefer actual stocks. You can benefit from the price fluctuation of some of the most famous company stocks such as Apple, Amazon, Netflix, Meta, and more.

The number of stock CFDs offered by this broker is more than 12,000. Traders can invest in stocks across companies from the USA, UK, Switzerland, and Germany. Leverage for trading stock CFDs goes up to 20:1.

For trading stocks, you can download MetaTrader 5 or the dedicated trading software StocksTrader.

Both platforms offer extensive trading capabilities. MetaTrader 5 is often referred to as an all-in-one platform due to its capability of providing access to trading multiple asset classes. Whereas R StockTrader is solely built for trading stocks.

Indices trading

Indices are trading instruments that consist of a basket of individual stocks, which are publicly traded in the stock market. The price of a certain index is calculated based on the performance of all the companies listed in the index. Not only can indices be traded as CFDs, but they can also be used as great indicators for predicting the general market sentiment. For example, S&P 500 or US 500 measures the performance of 500 top US companies. A bullish S&P 500 can be a good predictor of a strong USD. Many traders and algorithms buy and sell stocks based on indexes. As a result, many individual stocks copy the performance of their indexes.

RoboForex gives access to trading more than 10 popular indices such as De40, US 500, Dow Jones 30, etc. Spreads for trading indices start from as low as 0.5 pips. In addition, the commission for a 1 million USD trading volume starts from $4.

Crypto CFD trading

Cryptocurrencies do not need much of an introduction. Everyone has heard about these digital currencies. Trading crypto CFDs gives you the ability to profit from price fluctuations in either direction without actually owning the asset. In addition, liquidity is higher and spreads tighter when trading crypto CFDs compared to real coins. What’s more, you don’t have to worry about where to store them and how to cash out, since you’re only trading CFDs. Please note that for long-term investing, traders prefer owning actual assets to CFDs.RoboForex allows you to invest in up to 33 crypto instruments including well-known tokens such as Bitcoin, Litecoin, Solana, Stella, Binance coin, Ethereum, Ripple, crypto-associated ETFs, and more. Leverage for trading cryptocurrencies is up to 50:1, which is very high compared to the competition. One reason why this broker is able to provide such high leverage is that it’s more loosely regulated.

Keep in mind that the MetaTrader platforms only give you access to trading 14 cryptocurrencies. Whereas StockTrader offers access to a wider range of assets. What’s more, crypto trading is available 24/7 with this broker.

Soft-commodity trading

Commodities are raw materials that can be grown or mined. Commodities that can be mined are called hard commodities. Commodities that are grown are referred to as soft commodities.The broker provides access to trading a wide range of soft commodity ETFs. In particular, you can trade wheat, corn, sugar, soybeans, cocoa, coffee, fruit, and more. The number of offered soft commodity ETFs is over 100.The minimum initial deposit required for trading soft commodity ETFs is only $100. In addition, offered leverage is up to 20:1. Keep in mind that trading these assets is only accessible using R StockTrader software.

Commodity prices are influenced by demand and supply. For instance, the Covid-19 pandemic caused an increase in demand and a decrease in the food supply. As a result, commodity prices skyrocketed. In addition, wars, climate change, floods, and technological advancements can affect commodity prices.

Hard-commodity trading

The broker gives you access to trading metals and natural resources. You can invest in gold and silver along with more than 20 ETFs on metals. Spreads start as low as 0 pips. What’s more, metal trading is accessible using MetaTrader platforms as well as R StockTrader.Precious metals like gold and silver are viewed as safe investments due to their historic performance and low volatility. During high inflation, investors hedge their risks using these metals. However, as already mentioned, CFDs and ETFs are great for trading short-term but terrible for investing long-term due to high fees. The low volatility of precious metals can be a turn-off for day traders.

In addition to metals, you can trade natural gas, crude oil, Brent crude oil, ethanol, and more CFDs using the MetaTrader 4 and R StockTrader platforms. Spreads start from as low as 0.01 pips and the term currency is USD. The energy sector is much more volatile than precious metals, thus more opportunities for day traders can be found.

RoboForex offers a wide range of account types to choose from. Prime, ECN, R StockTrader, ProCent, and Pro are the ones on offer. Each account type comes with unique characteristics to meet the needs of individual investors.

Traders vary in terms of trading style, experience level, available funds, beliefs, timeframe preferences, and more. In general, the more account types offered, the better. In addition to RoboForex’s live trading accounts, the broker also offers Islamic and Demo accounts to its clients.

Demo Account

The broker provides a demo version of each account type. Demo accounts are similar to real accounts, with the only difference being that your balance is filled using virtual money.  A demo account gives traders the opportunity to experience market spreads, commissions, swaps, order execution speed, and many other details such as the number of trading instruments without risking actual money.

Demo trading helps develop and test trading strategies. Demo accounts are heavily utilized by both professional and novice traders. What’s more, demo accounts help people to get familiar with using trading software.

Prime Account

RoboForex Prime account is suitable for traders that like to trade a mixture of asset classes. Trading platforms available are MetaTrader 4, MetaTrader 5, and R StockTrader. The account provides access to the trading of up to 28 Forex pairs, metals, US stock CFDs, CFDs on indices, oil, and cryptocurrencies. The minimum deposit required to open this account is 10 USD or 10 EUR. The account comes with a floating spread starting from 0 pips. On the other hand, traders are charged a commission. The commission amount varies between asset types.

The maximum leverage for this account is 300:1. What’s more, the Stop Out level is 100%. Choosing leverage wisely can protect your account from blowing up.

 ECN Account

ECN stands for Electronic Communication Network in the world of trading. RoboForex ECN account promises fast execution speeds which can be very attractive for high-frequency traders, scalpers, and intraday traders in general. The trading platforms offered are MetaTrader 4, MetaTrader 5 and WebTrader. You can open the ECN account by using as little as $10. Account currencies available are EUR, USD, and CNY.The ECN account provides access to trading 36 currency pairs, metals, US stock CFDs, indices, oil, and cryptocurrencies. Spreads start at 0 pips and commission is dependent on the asset class being traded. As for leverage, you can choose up to 500:1, for which the Stop Out level is 40%.

StocksTrader Account

The account type is specifically designed for trading stock. R StockTrader account provides access to more than 12,000 instruments. These include indices, stocks, stock CFDs, FX pairs, ETFs, oil, metals, and cryptocurrencies. For this account type, only a dedicated R StockTrader platform is accessible. Account currencies are EUR and USD. Keep in mind that the minimum initial deposit required to open the account is $100. Now let’s talk about fees and commissions. Commissions vary based on asset types.

US stocks are charged a commission of 2+ USD. Keep in mind that if your deposit was over $10k, commissions are lower and are starting from 0.5 USD. USD Stock CFDs are charged $2+ in commissions as well. As for the European stocks, the commission is higher and starts from $2.8. Spreads for EU stocks start from 0 pips. Whereas US stocks and stock CFDs have a markup of 0.01 USD.

Leverage for Forex pairs goes up to 300:1. Stocks offer 2:1 leverage and US stock CFDs up to 20:1. Note that for European stock CFDs leverage offered is only up to 5:1.

 ProCent Account

The minimum deposit required to open the ProCent account is $10. The account type is ideal for testing your strategies manually or automatically in live trading conditions without risking big capital. The account gives you access to 36 currency pairs, metals, and cryptocurrencies.

Available platforms are MetaTrader 4 and MetaTrader 5. Spreads start from 1.3 pips and there’s no commission charged. The Stop Out level is set to 10%. What’s more, the maximum leverage is extremely large, 2000:1.

Pro Account

The Pro and ProCent accounts have a lot in common. Both offer the same leverage, the same minimum initial deposit, and fees. The differences start when it comes to asset classes, trading platforms, and Stop Out levels.

Trading instruments available on the Pro account are 36 FX pairs, metals, stock CFDs, indices, oil, and cryptos. Traders can choose to download and use MetaTrader 4, MetaTrader 5.

 Islamic Account

Islamic accounts are specifically created for clients of Muslim belief, who are not allowed to trade with interest due to the restrictions of Sharia laws. The account type is not charged with swaps, instead, the broker charges fixed Forex commissions depending on the currency type and the number of opened positions.

It should be noted that the Islamic account is only available using the MetaTrader 4 platform and the assets you can trade using the software are mainly limited to Forex pairs.

Trading Platforms

When it comes to trading software, RoboForex truly delivers. The broker provides access to a wide range of award-winning platforms including MetaTrader 4, MetaTrader 5 and R StockTrader. MetaTrader 4 is more simple and 5 years older than MetaTrader 5. For this reason, novice currency traders prefer MT4. The platform was released in 2005 and since then, it has managed to win the hearts of Forex traders globally. MetaTrader 5 was released in 2010 and is often referred to as an all-in-one platform. The software provides access to more asset classes than MT4 and is a little bit more complex. R Stock Trader is a modern-looking trading platform, developed for trading real stocks and stock CFDs. The platform provides access to more than 12,000 instruments, out of which most of the portfolio consists of stock CFDs.

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