RoboForex Fees Review
Roboforex is a reliable international Forex broker that offers clients a wide range of investment products and services for online trading. The company is regulated by the International Financial Commission (IFC). Roboforex offers innovative technologies, professional support, and beneficial trading conditions at fees in line with its competitors.
In fact, RoboForex spread fees are some of the lowest among large international brokers. This guide looks at RoboForex fees, including trading and non-trading fees.
| Account | Fee Level | Fee Terms |
|---|---|---|
Pro-Standard Account |
Low |
Variable spreads from 1.3 pips, no commissions |
ECN Pro Account |
Average |
Variable spreads from 0.0 pips, $20 commission per 1 million USD trade |
Prime Account |
Average |
Variable spreads from 0.0 pips, $15 per 1 million USD trade |
Pro-Cent Account |
Low |
Variable spreads from 1.3 pips, no commission |
R Trader Account |
Average |
Variable spread from 0.01 pips, $1.5 minimum commission |
Is RoboForex Cheap?
RoboForex has attractive conditions for trading and investing, which allows you to save on commissions and get more profit.
The broker offers some of the lowest trading commissions in the industry. For example, their ECN accounts have a commission of just 0.0 pips per lot traded. This is significantly lower than the industry average, around 0.1-0.2 pips per lot traded.
In addition to low trading commissions, RoboForex also offers several other attractive features and benefits for its clients.
These include:
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A wide range of account types and investment products
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A variety of payment methods
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24/7 customer support
On top of that, the ECN account offers up to 15% of commission cashback. Meanwhile, you can get up to 10% cashback on the Prime Account.
RoboForex - Forex Spread and Fees
When compared to competitors, RoboForex is cheaper than some and costlier than others. For example, as you can see in the table below, RoboForex is cheaper than Forex4You. The latter has high Forex spreads of up to 3, while the highest for RoboForex is 2 for GBPUSD and USDJPY.
However, RoboForex is more expensive than other competitors, such as Exness. With spreads ranging from 1 to 1.3, Exness is more budget-friendly than Forex4You and RoboForex.
Despite having higher spread commissions than Exness, RoboForex spread fees are still comparable to most international brokers. Plus, the platform offers different ways to lower the commission fees, such as rebate programs.
RoboForex Spread Compared
| RoboForex | Exness | Forex4You | |
|---|---|---|---|
EURUSD |
1.4 |
1 |
2 |
GBPUSD |
2.0 |
1.1 |
3 |
USDJPY |
2.0 |
1.3 |
2 |
Forex Trading Fees
Forex trading fees generally include the spread, which is the difference between the bid and ask prices of a currency pair. In addition, some brokers may charge a commission on each trade that is executed. The size of these fees will vary from broker to broker and will also be dependent on the currency pair being traded.
Forex trading can be a costly endeavor if not done carefully. Fortunately, RoboForex has low commission fees, making it easier for traders to trade Forex. Additionally, there is no fee for the RoboForex Standard Account.
Meanwhile, the ECN account fee is $2 per lot, much lower than the industry average. For instance, Exness has a fee of $3.5 per lot while Forex4You charges $8 a lot.
Meanwhile, the ECN account average spread is 0.1 pip, which is the same as Exness and many other brokers.
| Fee | RoboForex | Exness |
|---|---|---|
Standard Account EURUSD Average Spread |
1.4 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
ECN Account Fee |
$2 per lot |
$3.5 per lot |
ECN Account EUR Average Spread |
0.1 pip |
0.1 pip |
RoboForex CFD Spreads and Fees
RoboForex allows you to trade different financial instruments, such as major, minor, and exotic currency pairs, precious metals (gold and silver), CFDs on stocks of the world's largest companies, and futures contracts (oil, gas, agricultural products, etc.). You should be familiar with the fees for all these assets.
For instance, here are the RoboForex spread fees for a few currencies.
| Currency | 1 Pip Size | Average Spread | Broker Revenue per lot |
|---|---|---|---|
AUDCAD |
0.0001 |
3.1 |
$14.64 |
USDJPY |
0.01 |
2.0 |
$14.86 |
USDCAD |
0.0001 |
2.2 |
$12.20 |
EURUSD |
0.0001 |
1.4 |
$13 |
The commission fees depend on the broker you choose and can be a fixed fee or a percentage of the trade value. For example, if you were to trade EUR/USD with a commission of 2 pips, your total cost would be 4 pips (2 pips for the bid and 2 pips for the ask). Since RoboForex has higher commission rates, trading on the platform is comparatively more expensive than Exness.
RoboForex Non-Trading Fees
Non-trading fees on a trading platform include withdrawal inactivity and deposit fees.
Does RoboForex Charge Inactivity Fee?
RoboForex does not charge an inactivity fee. Moreover, if your inactive account has funds, RoboForex will not write them off since there is no expiry date for the funds.
Does RoboForex Charge Withdrawal Fee?
RoboForex withdrawal fees depend on the method used. For example, if you use a credit/debit card to withdraw money from your account, there will be a 2% fee. However, if you use an e-wallet like PayPal or Skrill, the withdrawal fee will depend on the payment system's policies.
RoboForex does not take any commission on withdrawing funds.
Does RoboForex Charge Other Fees?
RoboForex does not charge any additional fees. You can withdraw funds without commission. Plus, there's no inactivity fee, nor do your funds expire. However, the payment system used for withdrawal will charge a certain fee. You should check the withdrawal and deposit methods supported by RoboForex to learn more.
RoboForex Financing Rates
RoboForex calculates the margin rates using the following formula:
<Margin> = <Contract size> / <Leverage>
For example, if you buy a lot of EURUSD and your account currency is EUR while your leverage is 1:100, the margin will be 1,000 EUR.
| CFDs | Pip Size | Headed Margin |
|---|---|---|
Apple Inc. Stock |
0.01 |
50% |
EURGBP |
0.0001 |
25% |
GBPUSD |
0.0001 |
25% |
RoboForex Swap
The swap on a trading platform is the fee charged by the platform for the rollover of a position overnight. This fee is determined based on the interest rates of the underlying currencies involved in the trade and whether the position is long or short. The swap can be positive or negative, depending on these factors.
| Roboforex (Pro-Standard) | Exness | Forex4you | |
|---|---|---|---|
GBPUSD short |
-0,1 |
-0,13 |
-0,459 |
GBPUSD long |
-0,41 |
-0,16 |
-0,493 |
EURUSD short |
0,19 |
-0,34 |
-0,085 |
EURUSD long |
-0,76 |
-0,05 |
-0,765 |
USDJPY short |
-0,8077 |
-0,04 |
-0,748 |
USDJPY long |
0,0214 |
-0,36 |
-0,272 |
As evident, the swap for RoboForex is comparable to Exness and Forex4You. Again, Exness is the cheapest among the three brokers. However, RoboForex also has attractive swap rates, considering it allows you to trade a wide range of financial instruments and currencies.
Top 5 RoboForex Reviews i
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Comment
RoboForex trading account setup is fast and it was easy for me to pull my first trade on MT4. There are 3 types of order execution and loads of ready-to-use indicators and tools for technical analysis and graphic analysis on the trading platform. Among the different order types, the market order is the simplest. When executing this entry order, it opens a trading position immediately, helping me achieve my main goal of selling or buying the asset at the current market price without delay. Also, the broker's EUR/USD spread is close to the declared 0.2 - 0.5 pips. In other currency pairs, it's better to consider the limit order because spreads could be pretty wide.
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Comment
Today,April 11, 2024, I made a deposit using a new payment method to fund my RoboForex trading account. I always received the deposited amount real-time in my previous service provider and was expecting the same this time. That did not happen unfortunately. I waited for five hours before finally contacting the RoboForex customer service just in case it was just a minor glitch in the system. The platform has a number of customer service channels to choose from like Whatsapp, Telegram, Messenger, etc which is convenient. I contacted them through Facebook Messenger at 2 pm local time (+8 GMT) and got a response right after I sent my concern. Website says customer service is 24/7. Was asked to provide my trading account number and made it clear that some transactions can take up to five business days to reflect, depending on the service provider. But somehow the funds made it into my account within the day after the interaction. Happy about their prompt response on this one.
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Comment
I signed up with RoboForex two weeks ago and the process went smoothly overall. Only one thing to remember: they have a specific requirement on the password format which took a bit of my time. I use the same password on all my trading accounts which RoboForex kept rejecting, so had to come up with a new one which for me is a source of slight inconvenience for my future transactions. After submitting the documents confirming my identification and home address, they sent me an email informing that my MT4 Pro account has been successfully opened. It’s fast. There are four different account types to choose from: Demo, Real, CopyFX Trader, and Partner which appeals to different types of traders and I selected a demo since I am a beginner. From my understanding you can open multiple accounts at once and there can be different types, depending on preference. The demo account has a $10,000 balance and a 1:1000 leverage and I just started playing around. Wish they will be more flexible with th
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Comment
RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.
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Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company
FAQs
What is Pip Size?
The pip size refers to the change in the fourth decimal place of an asset's price in a trading platform. For example, if the EUR/USD moves from 1.23456 to 1.23457, that is one pip of movement. Most currencies are priced to four decimal places, so the slightest change is that of the last decimal point. The value of a pip varies depending on the asset being traded and the amount of the trade.
What is the Spread?
The spread is the difference between the bid and asking price of an asset. The bid price is the price at which you can sell an asset, while the asking price is the price at which you can buy it. For example, if EUR/USD has a bid price of 1.23456 and an asking price of 1.23457, the spread would be 0.00001, or one pip. The bid-ask spread can vary depending on the asset being traded and the market conditions.
How Much are RoboForex Withdrawal Fees?
RoboForex does not charge withdrawal fees. However, you’ll still have to pay the processing fees for the payment system you use.
Is RoboForex Cheap for Beginners?
Although RoboForex has attractive rates, some beginners might find it expensive if they want to use the Pro accounts. On the other hand, Exness is a much better option.
Glossary for novice traders
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1
Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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2
Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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3
ECN
An ECN, or Electronic Communication Network, is a technology that connects traders directly to market participants, facilitating transparent and direct access to financial markets.
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4
Forex Trading
Forex trading, short for foreign exchange trading, is the practice of buying and selling currencies in the global foreign exchange market with the aim of profiting from fluctuations in exchange rates. Traders speculate on whether one currency will rise or fall in value relative to another currency and make trading decisions accordingly.
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5
CFD
CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.
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Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).