RoboForex Trading Account – Review, Types, Process, Benefits, Charges & moreLast Updated Date: Apr 29, 2022
Know everything about RoboForex Trading Account here. RoboForex has been known for its digital-first approach in the financial and investment arena.
It provides one of the top-notch trading accounts with multiple services, products, and facilities that can enhance your trading experience to a great extent.
In this article, we will talk about the benefits of using the RoboForex Account. We will try to enlighten your knowledge about the various features and facilities that you can avail yourself of with this trading account.
This is going to be an all-in-one guide for understanding the trading account of RoboForex and its features.
Trading accounts are something that no trader can do without. As without a trading account, there cannot be any trade.
You cannot place any orders nor any orders will get executed. However, choosing the right trading account is essential for better profits and trading experience.
RoboForex Trading Account and Benefits
RoboForex Trading Account is offered by RoboForex which is a brokerage house based in Belize and regulated by IFSC.
It was established in the year 2009 by Rudolph Simmons as a privately held firm.
It has around two hundred employees across the branches which are present all over the world. There are multiple countries where RoboForex provides services.
The benefits of trading using the RoboForex online trading are as follows –
RoboForex provides five different types of accounts.
These five accounts have their specialties which will be discussed in the later section.
This brokerage house made five different accounts to suit all types of traders.
As the requirements and investment budget of every trader is different, the trading account must have a different useful feature too.
Different trading platforms:
With all the trading accounts, you get access to the MetaTrader 4 as well as MetaTrader 5 trading terminal, mobile software, web-based RoboForex online trading platform.
All these platforms are loaded with highly advanced features for a great trading experience.
From interactive charts to the technical indicators and others, all are there which you can avail yourself of the RoboForex Trading Account.
One of the most important things that you need to look at while opening any trading account, is the brokerage charges.
The charges that this broker levies are quite competitive and thus helps you earn more profit.
Wide variety of assets:
RoboForex has more than 12000 trading instruments.
However, the number of instruments available with a trading account depends on the trading account type.
For instance, you get all 12000 instruments to trade with the R Trader account while with the Prime account you get 28 currency pairs, then there are other Metals, CFDs, stocks from the US market and indices, oil, and others.
Research and advisory services:
RoboForex is known for its excellent research and advisory services.
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RoboForex Trading Account Charges
|Trading Account Charges|
|Account Type||Prime Account||ECN Account||R Trader||ProCent||Pro|
|Initial Deposit||10 USD/EUR.||10 USD/EUR.||100 USD/EUR.||10 USD/EUR.||10 USD/EUR.|
|Spread||From 0 pips||From 0 pips||Starts at 0 pips||From 1.3 pips||From 1.3 pips|
|Commission||$10 per million traded||$20 per million traded on Forex pairs.||US Stocks Pro commission of 0.0045 USD per share||Commission-free||Commission-free|
The account charges depend on the type of account.
For instance, the minimum deposit for R Trader is $100 while the same is $10 or 10 EUR for the Prime account.
You will get an elaborated idea of the same in the next section for individual accounts. The commission also varies accordingly.
The range of commission is huge as well. For instance, you have to pay $10 per million traded for the Prime account while for the R Trader account it is $0.0045 per share.
Types of RoboForex Trading Account
|Types of Trading Account|
|Trading Desk Type||Dealing Desk, ECN, Market Maker, No dealing desk, STP|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
There are 5 types of accounts that RoboForex provides and they are –
This is the basic account where the commission you need to pay is $10 per million traded. The initial deposit is $10 as well.
The spread starts from 0 pips only and the leverage you can get is up to 300 times.
For this account, you need to pay an initial deposit of $10 as well.
The spread level is the same as the above-mentioned account that is 0 pip is the minimum.
The commission that the traders have to pay if they use this account is $20 per million traded on forex pairs.
The leverage is huge in this account and that is 500 times.
R Trader Account:
This is one of the premium accounts of RoboForex. Here you have to pay just $0.0045 per share of commission that too on just the US stocks.
The leverage you can get is up to 300 times and the spread level is from 0 pips only.
In this account, you can keep just $10 as an initial deposit and trading. The leverage or the exposure in this account is incredibly high and it is 2000 times.
The account is commission-free. So, you can trade way higher than your deposit and make way more profit because of no commission.
However, the spread in this account is a bit high and starts from 1.3 pips.
This is the final type of account that RoboForex provides. It has an initial deposit of $10 and it is also a commission-free account.
The exposure level is up to 2000 times and the spread starts from 1.3 pips.
RoboForex Account Opening and Trading Process
If you want to open a RoboForex trading account you need to follow these steps –
Account opening process
- Find the “open account” tab and click on it
- A form will pop up on the screen, click on it and fill it and submit
- Then you need to submit the documents for supporting your application
- Make sure you upload all the required documents in the correct format as mentioned
- Once you get the approval, you will be receiving the id and the password.
For logging into the RoboForex account, you need the trading platforms. You can download the terminal software or use the RoboForex online trading as well.
Once you open any of these platforms, you can just click on the login tab and enter the id and password and then you can start setting up the platform.
- Select the instrument you want to track or trade
- Click on the option to add it to the watch list
- You can set alerts to keep track of the market
- You can also set a notification for price movements
Once your account is ready, you can start trading –
- Select the stock/ currency, indices, or any other asset
- Click on BUY or SELL option
- Place the order by entering the number of units you want to trade
Find Different Trading Account Types of Forex Brokers
RoboForex Trading Account – Features
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||Yes|
|Interest On Margin||Yes|
|Other Trading Features||No|
The features of RoboForex Trading are as follows –
- You get free lifetime learning resources and educational services. There is provision to access the various research reports, educational videos, and a lot more.
- You can use the copy trading feature. If you are new to trading and unsure of your trading strategies you can copy that from the pro traders and apply it in your trades.
- There are multiple email alerts, notifications, and customization options.
- You get ample technical analysis tools and resources.
- There are multiple orders types which include Guaranteed fills, limit orders, OCO orders, and others.
- There is a provision for marginal trading as well. However, interest is levied on the margin
- You can directly place orders from the technical charts as they are interactive charts.
- You can avail experts advises
- There are automated trading facilities along with API trading and VPS services.
Check out Online Trading Services of FOREX Brokers
RoboForex Trading Account – Conclusion
So, as you can see, the RoboForex Trading account is a bundle of services and products. You can access multiple markets with this one single trading account.
You can trade online or using the terminal as per your choice.
There are highly advanced platforms and an abundance of learning resources and facilities.
So, if you are wondering which trading account to open, you can consider RoboForex.
RoboForex Online Trading – FAQs
Here is the list of FAQs related to the RoboForex trading account:
Does RoboForex provide Online Trading?
Yes, there is an online trading facility available with RoboForex.
You can trade using the online trading platforms of a brokerage house.
What are the Commission Charges in RoboForex?
The commission that RoboForex levies depend on the type of account. For ProCent and Pro accounts, there is no commission.
For the other three, there are commissions like $10 per million traded for the Prime account holder.
Does RoboForex provide Demo account Trading?
Yes, it has a demo account. You can use the demo account for practice trading if you are a new trader.
You can also use this for testing trading strategies. It is free and there are no charges for using this. You can switch to an actual trading account anytime you want or feel confident.
Is trading Free at RoboForex?
No, it is not completely free at RoboForex.
It is free as per the account you choose. For instance, you choose the ProCent account, then you can trade for free.
While if you choose the Prime account, then there is a commission you need to pay for trades you do.
Does RoboForex provide Spot Metals Trading?
No, there is no Spot Metal trading facility available with RoboForex yet. However, it can be available soon.
What are Spot Metals Trading Charges at RoboForex?
The commission charges depend on the account type but here Spot Metal trading is not available so, no charges for that.
Does RoboForex provide Stock Trading?
Yes, there are stocks of multiple US companies like Amazon, Netflix, and others. You can pick your stock and analyze and trade.
What is Spread at RoboForex?
The spread depends on the type of account you are choosing. It generally varies from 0 pip to 1.3 pips in RoboForex.
Is RoboForex safe for trading?
Yes, it is safe to trade using a RoboForex account. It is regulated by one of the most premier financial bodies, the IFSC.
Does RoboForex provide Trading Tips?
Yes, there are market tips, trading tips, suggestions, and advice available from the research and advisory depart of the brokerage house.
Fill up the Form – Open Forex Trading Account Now!
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