RoboForex Minimum Deposit And Payment Methods
When you want to start trading forex, one of the first things you'll need to do is decide on the right broker. So, when doing your research, you’ll typically look at things like the instruments the broker offers, it's trading platform, and, of course, how much you'll need to deposit and what you’ll pay when you deposit funds into your trading account.
When it comes to minimum deposits, payment methods, and fees, you’ll need to find a broker that allows you to open an account with a deposit that suits your budget. Moreover, it's a definite benefit if the broker gives you the ability to make deposits in a currency that's convenient to you.
With that in mind, in this post, we'll look at the RoboForex minimum deposit, payment methods, and fees. Hopefully, this will help you decide whether RoboForex is the right broker for you.
Do you want to start trading Forex? Open an account on Roboforex!What Is the RoboForex Minimum Deposit Requirement?
The minimum amount you’ll need to deposit when you want to start trading on RoboForex, depends on the type of account you open. The different accounts with their minimum deposits are:
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Prime - 10 USD / 10 EUR
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ECN - 10 USD / 10 EUR
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ProCent - 10 USD / 10 EUR
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Pro - 10 USD / 10 EUR
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R StocksTrader - 100 USD
As you can see, all RoboForex's accounts have a minimum deposit requirement of 10 USD or 10 EUR apart from the R StocksTrader account which is specifically meant for experienced traders.
Keep in mind, though, because an account has a minimum deposit requirement, doesn't mean you’ll be able to start trading with a low amount. This is simply because, in order to generate acceptable returns with a small account, you’ll need to trade with higher margins. This, in turn, increases your risk significantly.
RoboForex Minimum Deposit vs Competitors
With that in mind, let's look at how RoboForex compares to some of its competitors when it comes to minimum deposits.
| Exness | AvaTrade | RoboForex | |
|---|---|---|---|
Minimum Deposit |
10 USD / 10 EUR |
100 USD |
10 USD |
RoboForex Deposit Methods and Fees
When depositing funds with RoboForex, you have a choice of several ways to make a deposit into your account. These include:
Bank payments.
Electronic payments.
Bank cards.
Cash and vouchers.
RoboForex Deposit Methods vs Competitors
| RoboForex | AvaTrade | Exness | |
|---|---|---|---|
Bank Transfer |
Yes |
Assets for copy trading
Yes |
Regulator Yes |
Debit/Credit Card |
Yes |
Assets for copy trading Yes |
Regulator Yes |
Payment Apps |
Yes |
Assets for copy trading Yes |
Regulator Yes |
No |
Assets for copy trading No |
Regulator Yes |
RoboForex Deposit Fees
When you deposit money with RoboForex, you don't have to pay any deposit fees.
How Long Does It Take To Deposit Money on RoboForex?
How long it takes to deposit funds into your RoboForex account, depends on the specific deposit method you’re using, for instance:
Electronic payments are typically instant. However, in some cases, like, for instance, Skrill, it can take up to 1 day.
Bank payments can take anything from up to 1 day to up to 3 days to process.
Card payments are processed instantly except for China UnionPay where it takes up to 1 day to process your deposit.Bank cards.
Deposits with cash and vouchers can take up to 1 day to process.
RoboForex Account Currencies vs Competitors
When depositing funds with RoboForex, you have a choice of several currencies in which to make your deposit. In fact, you can make deposits in no less than 19 currencies including:
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USD - United States Dollar
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BRL - Brazilian Real
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CNY - Renminbi
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THB - Thai Baht
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LAK - Lao Kip
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MMK - Myanmar Kyat
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KHR - Cambodian Riel
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VND - Vietnamese Dong
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EUR - Euro
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MYR - Malaysian Ringgit
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AED - United Arab Emirates Dirham
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AUD - Australian Dollar
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CLP - Chilean Peso
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IDR - Indonesian Rupiah
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PLN - Polish Zloty
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UAH - Ukrainian Hryvnia
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GBP - Pound Sterling
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KZT - Kazakhstani Tenge
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CHF - Swiss franc
Considering this list of deposit currencies, you’ll be able to use the currency that’s most convenient for you. It’s important to remember, however, that your trading account will be in one of four currencies. These are USD, EUR, CNY, and GOLD. This means that, if you deposit funds into your account and your currency differs from one of these currencies, it will be converted according to RoboForex’s internal exchange rates.
With that in mind, let's see how RoboForex compares to its competitors:
| RoboForex | AvaTrade | Exness | |
|---|---|---|---|
Account Currencies |
USD, EUR, CNY, GOLD |
Assets for copy trading
USD, EUR, GBP |
Regulator All the major |
How To Deposit Money on RoboForex? Step-by-Step Guide
Now that we've seen what RoboForex’s minimum deposit requirements are, what currencies you can use to deposit funds into your RoboForex account, and what account currencies the platform offers, it's time to look at how you can deposit funds into your RoboForex account.
To do this, you’ll need to follow these steps:
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The first thing you’ll need to do is to log into your RoboForex Members Area.
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In the Members Area, you need to go to the Deposit Funds page.
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On this page, you’ll need to choose the account you want to make a deposit in from the drop-down list.
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The next step is to choose your preferred payment method.
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You’ll then need to decide whether you want to deposit funds and receive the bonus funds or not and choose your percentage.
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The next step is to specify the amount you want to deposit and the currency you want to make the deposit in.
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Once you've completed all the details, you can click Deposit funds.
Once you've done so, there will be a second step in the depositing process where you may be asked to provide additional information. This information depends on the payment method you choose. Once you've provided this information, your deposit will be completed and processed.
FAQs
In addition to the above information, we've also provided a list of common questions people often have when it comes to RoboForex deposits.
Can I deposit funds if my currency is not on the list of account currencies?
Yes, you can. RoboForex offers four account currencies, but you're able to make deposits in 19 other currencies. It is important to note, however, that when you make a deposit in a currency not on the list of account currencies, the funds will be converted using RoboForex’s exchange rate.
Why will I receive less than the amount I deposit?
You’ll receive less into your trading account than the amount you deposit because of the conversion of the funds from one currency to another.
Will my money be safe?
Yes, your money will be safe as RoboForex is an international broker that’s properly regulated.
What fees do I need to pay to make deposits into my RoboForex account?
All deposits into RoboForex accounts are free.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.