Robomarkets review
About the broker
RoboMarkets has been operating in the market since 2012, providing a wide range of services and trading opportunities. In this review, we will look at the key aspects that may interest investors and traders and evaluate how this broker performs in various areas. It is a multi-asset broker offering 8 types of assets and more than 11,700 instruments for trading. With RoboMarkets' accounts and platforms, customers gain access to the world's largest markets and a wide range of trading tools. The company is also a member of the IFC (Investor Compensation Fund in Cyprus), which guarantees insured clients compensation up to 20,000 EUR if its members are unable to meet their obligations.
Trading Options and Fees
RoboMarkets offers trading in physical stocks and ETFs. Additionally, it allows trading CFDs on stocks, indices, ETFs, forex, and commodities. This wide range of assets allows for portfolio diversification and meets the needs of both conservative and active traders.
A major advantage of RoboMarkets is that the fees for trading physical stocks and ETFs are practically zero. This means that investors can benefit from minimal trading costs. Specifically, the fee for real stocks is 0.02 USD (minimum 1.5 USD), and for ETFs, it is 0.025 USD per share (minimum 2 USD).
The minimum deposit at RoboMarkets is set at 100 EUR, which is a relatively low amount even for beginners. This deposit can be made in various currencies. Deposit and withdrawal methods include bank transfer, credit cards, PayPal, Skrill, and Neteller. Some fees, such as the inactivity fee (5 USD for every 6 months of inactivity), should be considered by investors when planning their investment activities.
Broker's Trading Platforms
R StocksTrader is an advanced platform that provides a wide range of tradable instruments and a user-friendly interface. TradingView is a popular platform for chart analysis and social trading, which can be connected to an account with RoboMarkets. R WebTrader allows trading directly from a web browser without the need to install any software. R MobileTrader is a mobile app for trading on the go, available for devices with iOS and Android operating systems. MetaTrader 4 (MT4) is one of the most widespread trading platforms in the world. MetaTrader 5 (MT5) is a more advanced version of MT4, offering more features, trading tools, and market analysis options.
Demo Account and W-8BEN Form
RoboMarkets provides the option to open a demo account. A demo account allows you to simulate real trading conditions and gain valuable experience. Investors who wish to invest in US stocks will appreciate the option to fill out a W-8BEN form, which allows the reduction of tax on US dividends to 15%. Another advantage is the ability to trade fractional shares, which allows the purchase of parts of shares with smaller amounts.
User ratings and reviews of broker RoboMarkets
RoboMarkets has a rating of 4.5 out of 5 stars on TrustPilot. Users generally praise the reliable services, good customer support, and competitive trading conditions, as well as the platform's stability and efficient withdrawals, which usually take 1-2 business days. On Google Play, the RoboMarkets app is well-rated for its functionality and ease of use, with support for multiple languages, enhancing its accessibility and user experience. The RoboMarkets app also receives similar positive feedback on the Apple App Store, where users highlight robust features and a user-friendly interface.
Is RoboMarkets a scam or a safe broker?
RoboMarkets is generally considered a safe broker, regulated and overseen by several major financial authorities. RoboMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC). Due to its regulation and good market reputation, RoboMarkets is considered a trustworthy broker in the forex and CFD sectors.
Risk warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% 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.
| Basic information | |
|---|---|
| Regulations |
|
| Number of CFD asset classes | 4 |
| Broker type | ECN, MM, STP |
| Customer support |
|
| Deposit from | 100 EUR/USD |
| Spreads | 1.3 EUR/USD * Spread is dated 02.01.2024 12:00, spread amount is subject to change. |
| Real Stocks and ETFs | |
| Platforms |
|
| Instruments CFD | Commodities, Forex, ETF, Indicies |
| Established | 2012 |
| Location | 169-171 Arch. Makarios III Ave., floor 8, 3027,Limassol, Cyprus |
| Phone | +420 800 088 482 |
| info@robomarkets.com | |
| Country | Cyprus |
About the broker
RoboMarkets has been operating in the market since 2012, providing a wide range of services and trading opportunities. In this review, we will look at the key aspects that may interest investors and traders and evaluate how this broker performs in various areas. It is a multi-asset broker offering 8 types of assets and more than 11,700 instruments for trading. With RoboMarkets' accounts and platforms, customers gain access to the world's largest markets and a wide range of trading tools. The company is also a member of the IFC (Investor Compensation Fund in Cyprus), which guarantees insured clients compensation up to 20,000 EUR if its members are unable to meet their obligations.
Trading Options and Fees
RoboMarkets offers trading in physical stocks and ETFs. Additionally, it allows trading CFDs on stocks, indices, ETFs, forex, and commodities. This wide range of assets allows for portfolio diversification and meets the needs of both conservative and active traders.
A major advantage of RoboMarkets is that the fees for trading physical stocks and ETFs are practically zero. This means that investors can benefit from minimal trading costs. Specifically, the fee for real stocks is 0.02 USD (minimum 1.5 USD), and for ETFs, it is 0.025 USD per share (minimum 2 USD).
The minimum deposit at RoboMarkets is set at 100 EUR, which is a relatively low amount even for beginners. This deposit can be made in various currencies. Deposit and withdrawal methods include bank transfer, credit cards, PayPal, Skrill, and Neteller. Some fees, such as the inactivity fee (5 USD for every 6 months of inactivity), should be considered by investors when planning their investment activities.
Broker's Trading Platforms
R StocksTrader is an advanced platform that provides a wide range of tradable instruments and a user-friendly interface. TradingView is a popular platform for chart analysis and social trading, which can be connected to an account with RoboMarkets. R WebTrader allows trading directly from a web browser without the need to install any software. R MobileTrader is a mobile app for trading on the go, available for devices with iOS and Android operating systems. MetaTrader 4 (MT4) is one of the most widespread trading platforms in the world. MetaTrader 5 (MT5) is a more advanced version of MT4, offering more features, trading tools, and market analysis options.
Demo Account and W-8BEN Form
RoboMarkets provides the option to open a demo account. A demo account allows you to simulate real trading conditions and gain valuable experience. Investors who wish to invest in US stocks will appreciate the option to fill out a W-8BEN form, which allows the reduction of tax on US dividends to 15%. Another advantage is the ability to trade fractional shares, which allows the purchase of parts of shares with smaller amounts.
User ratings and reviews of broker RoboMarkets
RoboMarkets has a rating of 4.5 out of 5 stars on TrustPilot. Users generally praise the reliable services, good customer support, and competitive trading conditions, as well as the platform's stability and efficient withdrawals, which usually take 1-2 business days. On Google Play, the RoboMarkets app is well-rated for its functionality and ease of use, with support for multiple languages, enhancing its accessibility and user experience. The RoboMarkets app also receives similar positive feedback on the Apple App Store, where users highlight robust features and a user-friendly interface.
Is RoboMarkets a scam or a safe broker?
RoboMarkets is generally considered a safe broker, regulated and overseen by several major financial authorities. RoboMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC). Due to its regulation and good market reputation, RoboMarkets is considered a trustworthy broker in the forex and CFD sectors.
| Basic information | |
|---|---|
| Regulations |
|
| Number of CFD asset classes | 4 |
| Broker type | ECN, MM, STP |
| Customer support |
|
| Deposit from | 100 EUR/USD |
| Spreads | 1.3 EUR/USD * Spread is dated 02.01.2024 12:00, spread amount is subject to change. |
| Real Stocks and ETFs | |
| Platforms |
|
| Instruments CFD | Commodities, Forex, ETF, Indicies |
| Established | 2012 |
| Location | 169-171 Arch. Makarios III Ave., floor 8, 3027,Limassol, Cyprus |
| Phone | +420 800 088 482 |
| info@robomarkets.com | |
| Country | Cyprus |
Pros
Large number of trading instruments +10,000
Regulated broker
Competitive platform
Trusted brand since 2012
Cons
Less deposit and withdrawal options
Less educational opportunities
Licences and regulation
Broker RoboMarkets Ltd is authorized to operate financial services by the securities and exchange regulator in Cyprus, known as the Cyprus Securities and Exchange Commission (CySEC). This authorisation is granted to the company under registration number 191/13.
Trading platforms
This broker offers seven different platforms through which you can trade. One of the platforms is MetaTrader 4 and the newer version MetaTrader 5. These platforms must be installed on your computer. If you want to trade via a web-based platform, you can use the web-based version of RoboMarkets Web Trader. Unfortunately, this has fewer features and tools that you might miss when trading.
Of course, there is also an Android and iOS platform. Another option you can trade on is R Trader. This is an advanced platform that allows you to trade a large number of assets.
R Web Trader A custom web-based platform developed specifically for RoboMarkets clients. Available in all browsers, desktop and mobile versions.
R Mobile Trader Compact mobile application with the same performance as a desktop terminal. Supported for Android and iOS devices.
R Trader Multi-asset platform with highly functional technical analysis tools and the fastest financial charts in the industry.
R Trader Strategy builder A free and easy-to-use tool to automate your trading that requires no programming skills.
Types of accounts
Pro-Cent is an account type with a minimum deposit of 100 USD / 100 EURO or equivalent in another currency. Floating spread from 1.3 pips; minimum volume 0.1 lot. 36 currency pairs and metals are available for trading via MT4/5 and Web Trader platforms.
Pro-Standard is an account type with a minimum deposit of 100 USD / 100 EURO or equivalent in another currency. Floating spread from 1.3 pips; minimum volume 0.01 lots. 36 currency pairs, metals and CFDs are available for trading via MT4/5 and Web Trader platforms.
ECN-Pro NDD is an account type with a minimum deposit of 100 USD / 100 EURO or equivalent in another currency. Floating spread from 0 pips; minimum volume 0.01 lots. 36 currency pairs, metals and CFDs are available for trading via MT4/5 and Web Trader platforms.
PrimePro is an account type with a minimum deposit of $5,000 or equivalent in another currency. Floating spread from 0 pips; minimum volume of 0.01 lots. 28 currency pairs, metals and CFDs are available for trading via MT4 and Web Trader platforms.
R Trader is an account type with EUR or USD as base currency and a minimum deposit of USD 100. Floating spread from USD 0.01; minimum volume from 0.01 lots. More than 11,700 trading instruments, including stocks, indices, currency pairs, metals and CFDs, are available for trading through the multi-asset R Trader platform. Access to the free automated strategy builder R Strategy builder.
Account registration at RoboMarkets
Your registration with RoboMarkets is required before sending your deposit. This is of course not a new feature, as verification is required with every registered broker. Verification is usually done by simply scanning or taking a photo of your ID card, or passport or other photo ID.
You also need to confirm your permanent address with an official document (e.g. utility bill, bank statement, etc.) Robomarkets also has SMS verification, so you need to enter the correct phone number when you register.
In addition, if you will be topping up your account using a credit card, you will need to take a photo of it and send it to the system before making a withdrawal. When doing this, be sure to cover sensitive information, i.e. the CVV or CVC code and the card number itself. It is important for the broker to know that the card is actually in your name. Of course, you can find all the terms and conditions for verifying and confirming your card on the Robomarkets website
Deposits and withdrawals
Deposits and withdrawals can be made by quite a large variety of payment methods. You can choose from classic payment cards such as Visa and MasterCard as well as various online wallets. For deposits in CZK by bank transfer, you can use PPF Bank free of charge. It is a bit disappointing that this broker does not support PayPal.
Deposits are free of charge, even withdrawals can be made without a fee. You just need to withdraw money either on the first or third Tuesday of the month. If you were to withdraw on a different day, and thus chose to withdraw more than once on a given Tuesday, you would pay a percentage fee on the amount you withdraw. However, this varies based on where you have the money withdrawn.
If you have multiple accounts, you can move money between them without paying anything.
Facts about RoboMarkets
Main client benefits
● Accounts in USD, deposits and withdrawals free of charge.
● Trading US stocks through the multi-asset trading platform R Trader.
● Index DE40 - spread from 0.5 pips - one of the best conditions.
Key features of the RoboMarkets broker
- European regulation requires companies to adhere to quality standards and demonstrates the openness and transparency of their activities, including the provision of services to clients.
- Access to technologically advanced trading platforms RoboMarkets offers its customers trading platforms that the company has created based on the increasing demand of today's merchants. Combined with the industry's best-known platforms, they create a wide range of tools for implementing business strategies.
- 24/7 Customer Support A team of RoboMarkets customer support professionals is ready to answer all your questions in 11 languages.
- More than 20 payment systems A large number of payment systems allow clients to choose the most appropriate way to deposit and withdraw funds.