It includes a strategy builder, allowing traders to program automated trading solutions without needing to code. I assessed that RoboForex offers very competitive conditions on its Prime and ECN account types. In contrast, the spreads on the Pro and R StocksTrader account types vary from low to high compared to the industry average. My overall impression of RoboForex’s trading fees is that they are fairly competitive. I have compiled the table below to help you better understand the difference between the trading fees with RoboForex’s several retail account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.
RStocksTrader Account
You will also have 24/7 access to their proprietary VPS should you want it. To this end, you will be able to access a number of tools through your trading platform like setting stop losses, take profits, limit orders, and trailing stops to manage your positions. They also offer negative balance protection as standard and you will have access to a compensation fund of up to $20,000. RoboForex offers free VPS hosting and achieves fast execution speeds averaging 45 milliseconds. This combination caters to the needs of high-precision traders, such as scalpers and day traders. The terminal provides access to more than 12,000 shares and share CFDs, and I found it suitable for conducting advanced technical analysis.
- Filippo Ucchino started his trading career in Forex trading in 2005.
- One advantage is that traders can take positions instantly rather than waiting for their broker to secure that position.
- You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.
- Essentially, they are not Market Makers and do not provide liquidity to their traders.
RoboForex Mobile Trading App 📱
RoboForex offers a positive swap on EUR/USD short positions, meaning traders get paid money. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
My Key Takeaways After Testing MT5’s Mobile App
Added to that, the broker provides a good FAQ section where you can find the answer to many questions as well as forex, stocks, and index charts where you check prices in real-time. Finally, there is are the Roboforex Terminals that are available via web trader (R WebTrader) and mobile trading app (R MobileTrader) . Here you will have access to an additional 13 technical indicators and 9 graphic and charting tools to help with trading. Cryptocurrency CFDs trading is possible with all account types except for the ProCent account. Here you will find both Ethereum and Bitcoin against the USD and Euro. Again, the account utilizes market execution and has a minimum trade size of 0.01 lots and a maximum of 500 lots.
This can be used 24/7 from anywhere and gives you access to a high-speed server ideal for auto trading strategies. In excess of 10 major indices are offered for trading here as CFDs. The R StocksTrader account has spreads from 0 pips on forex, and from 0.01 USD on US stocks.
Your eligibility for deposit bonuses at RoboForex may depend on which of the broker’s entities holds your account and/or your country of residence. You xcritical can trade with the high speed of order execution through MetaTrader 4/5 platform. Extensive information about trading on ECN can be found in “Trading accounts” section. In addition to that, a detailed description of a special account type for premium clients is available on “Prime accounts” page.
An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. They are less common than an ECN account, but many traders prefer them for secure trades. The differences between ECN and STP brokers may seem small but crucial.
RoboForex Trading Account Types
A quick online form asking for a name, e-mail, and valid mobile phone number grants access to the back office. Account verification is mandatory, per regulatory requirements, and RoboForex remains in full compliance. A copy of an ID and a proof of residency document generally satisfies this step. The swap rates for leveraged traders are the cheapest I have seen anywhere, and the overall pricing environment for Forex traders is ideal for scalpers and high-frequency traders.
RoboForex excels in its educational content, offering a wide selection of videos, articles, and a comprehensive e-book. Traders can use these resources to learn how to identify trading opportunities, interpret price action, apply tight risk management, and more. My only concern is that RoboForex does not include content from third-party providers like Autochartist or TradingCentral, which could provide an alternative perspective. Nevertheless, RoboForex’s research materials are practical and highly informative. RoboForex provides excellent 24/7 customer support in English and Spanish. The support team can be reached via live chat (including Viber, Messenger, and Telegram), phone, and email.
Traders with the broker can use it to gain exposure to different markets that pay dividends and accommodate value investing. VIP accounts for professionals with lower commission and best trading conditions the Company can offer. We provide access to two types of accounts with orders executed in the ECN system.
With this, you will be able to trade in a total of 28 currency pairs, metals, US stock CFDs, index CFDs, and oil CFDs. The minimum deposit starts low at $100 and you will have access to top-quality tools to help you trade. In fact, you will have more than 12,000 total assets to choose from. Overall, I rate RoboForex as a great choice for scalpers, day traders, and algo traders because of its superior execution performance and robust supporting content. RoboForex offers a wide range of research content primarily geared towards day traders, though it’s also helpful for swing traders.
Some regulators mandate compliance with the strictest financial frameworks, while others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. Every day, traders are becoming savvier about the unsightly business practices that some Dealing Desk brokers engage in. Because of this, many DD brokers try their best to make it appear that they are ECN brokers. It is mandatory for regulated brokers to state if they are a True ECN or ECN by association.
To use scalping as a viable strategy, traders should have access to tools such as live economic news feeds and accurate charting programs. It also requires quite a significant time investment as placing trades at the right time is crucial. As a general rule, ECN brokers charge commissions for each trade placed. The ECN pricing model might favor traders with higher trading frequency and volume, while it might be more expensive for low-volume retail traders. Interactive Brokers (IBKR) is one of the most advanced ECN forex trading platform that offers advanced trading tools and the best market access.
RoboForex offers support in multiple languages, another confirmation of the global reach this broker is building. The RoboForex CopyFX platform allows traders to copy trades from other traders as social trading has gained popularity and continues its expansion. The minimum investment required is $100, and there are thousands of participating traders. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based RoboForex Prime account. It makes RoboForex the only broker offering all three pillars of a well-regulated trading environment where most offer only one or two. While RoboForex has heaps of quality services and tutorials ensuring that xcritical official site you will probably rarely need customer support, the team is on hand 24/7.