RoboForex Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of RoboForex fees and also assessed the size of its minimum deposit.
Short introduction of RoboForex
RoboForex is a brokerage company that was founded in 2009. RoboForex is a leading software developer in the Forex industry and one of the best Forex brokers based on client reviews.
RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize (license No. 000138/437).
| 💰 Account currency: | USD, EUR, GOLD |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | 1:2000 |
| 💱 Spread: | Floating from 0 pips |
| 🔧 Instruments: | Forex (currency pairs), ETFs, index CFDs, oil CFDs, CFD on European and U.S. stocks, real securities |
| 💹 Margin Call / Stop Out: | 40% / 10% - 60% / 40% |
RoboForex Pros and Cons
👍 Advantages of trading with RoboForex:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
RoboForex Commissions and Fees
Our experts have checked this company for trading and non-trading commissions. In the trading commission category, the broker's spread was considered, and as a non-trading commission, it charges an additional fee for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commission |
| Pro | $13 | No |
| Pro-Cent | $13 | No |
| ECN | $3 | No |
| Prime | $1 | No |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
RoboForex Minimum deposit
How to Start Making Profits — Guide for Traders
RoboForex offers several types of accounts to choose from. Standard options are EUR, USD, and you can also choose a non-standard option, like gold. Working with a deposit replenished with the gold instrument, a trader earns not only from trading but also from changes in gold quotes, a protective asset.
To start working with RoboForex, you need to open an account.
The broker also offers Islamic accounts, where the standard swap fee is replaced with a fixed fee without the link to bank interest rates.
For trading in RoboForex, both classic MT4 and MT5 platforms and a web browser, and mobile versions, including C Trader and R StocksTrader, are provided.
For a more comfortable start, the broker offers several bonus programs at once. Although the bonuses accrued to the deposit cannot be withdrawn, they can be used in trading. And the money already earned on bonuses can be withdrawn without any problems.
RoboForex - How to open a trading account? | Firsthand experience of Alex Smith by Traders Union
Brokers similar to RoboForex
When analyzing RoboForex, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of RoboForex and other brokers.
Comparison of RoboForex with other Brokers
| RoboForex | Eightcap | Exness | Pocket Option | AMarkets | 4XC | |
|---|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
MT4, MT5 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
Pocket Option, MT5, MT4 |
MT4, MT5, AMarkets App |
MT5, MT4, WebTrader |
|
Min deposit |
$10 |
$100 |
$10 |
$5 |
$100 |
$50 |
|
Leverage |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 0 points |
From 1 point |
From 1.2 point |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
$50 |
|
Cent accounts |
Yes |
No |
No |
No |
No |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of the RoboForex trading conditions has shown that it is beneficial to work with the broker. The level of fees is low. Also, the company offers a low minimum deposit, which makes RoboForex a good choice for beginners. The company offers good trading conditions even compared to competitors.
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FAQs
Can the level of fees differ for cent and standard accounts?
Yes. On cent accounts, the fees are generally lower than on standard accounts.
Can you reduce the fees?
As a rule, the fees depend on the trading account type. Also, companies may have special offers.
Can the level of the fees change if different accounts imply the use of different platforms?
Yes. Some brokers offer different trading platforms on different types of trading accounts. In this case, the size of the fee may change.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!