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Overall

RoboMarkets (Ex RoboForex), a part of RFG Holdings, offers multiple trading platforms and research tools and a wide range of CFD markets.

Steven Hatzakis | July 24th, 2019

help 63
Trust Score
Dislikes
  • cTrader not available in EU

Review Sections:

Please Note: RoboMarkets was not included in the 2019 annual review. As a result, this broker's ratings may be outdated. Read our Best Forex Brokers 2019 guide for a look at the top rated forex and CFDs brokers.

Founded in 2009, RoboForex Group (RFG) Holding is the owner of two related brands, RoboMarkets Ltd – regulated in Cyprus (formerly known as RoboForex) and RoboForex Ltd – regulated in Belize. In early 2013, the broker obtained regulatory status in Cyprus under its RoboForex (CY) Ltd entity as a Cypriot Investment Firm, and is passported throughout other European Union (EU) member states.

Primarily a MetaTrader broker offering the suite of platforms developed by MetaQuotes Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the firm offers cTrader – developed by SpotWare Systems, and the Umstel web platform branded as RTrader.

RFG Holdings’ brands offer multi-asset trading solutions on 36 forex pairs, and CFDs on metals, cryptocurrencies, and 8,700 stocks.

Is RoboMarkets Safe?

RoboMarkets is considered high-risk, with an overall Trust Score of 63 out of 99. RoboMarkets is not publicly traded and does not operate a bank. RoboMarkets is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulators (low trust). Learn more about Trust Score.

Regulations Comparison

FeatureRoboMarkets (RoboForex)IGSaxo BankCMC Markets
Year Founded2009197419921989
Publicly Traded (Listed) No Yes No Yes
Bank No Yes Yes No
Tier-1 Licenses0664
Tier-2 Licenses1312
Tier-3 Licenses1000
Trust Score63999898

Offering of Investments

The following table summarizes the different investment products available to RoboMarkets clients.

FeatureRoboMarkets (RoboForex)IGSaxo BankCMC Markets
Forex: Spot Trading Yes Yes Yes Yes
Currency Pairs (Total Forex pairs)3891182183
CFDs - Total Offered870015000329999959
Cryptocurrency traded as actual No No No No
Cryptocurrency traded as CFD Yes Yes No Yes
Offering of Investments 4 Stars 4.5 Stars 4.5 Stars 4 Stars

Commissions & Fees

RoboMarkets commissions and fees vary depending on the type of account opened (the Pro Standard, Prime, ECN-Pro, and Pro-Cent accounts).

RoboForex Accounts

The Prime account requires a $5,000 USD deposit, and offers an average 0.3 pip spreads on the EUR/USD, and a commission of $2 per standard lot ($4 round turn), bringing the all-in cost to roughly 0.7 pips. The Pro-Standard account has no commission but higher costs on the EUR/USD, with an average spread at 1.6 pips. It doesn’t require a minimum deposit.

RoboForex active trader accounts

The Pro-Cent has similar features as the Pro-Standard, except the micro contract size (1,000 units) allows for “cent” pip values when trading. The broker also offers a VIP account for active traders who qualify as professional clients in the EU, where rebates are given based on the amount of volume traded.

FeatureRoboMarkets (RoboForex)IGSaxo BankCMC Markets
Minimum Initial Deposit$100£250.00$2,000.00$0.00
Average Spread EUR/USD - Standard1.400.7500.9000.744
All-in Cost EUR/USD - Active0.7000.3630.6000.744
Active Trader or VIP Discounts Yes Yes Yes Yes
Commissions & Fees 3 Stars 4.5 Stars 4.5 Stars 5 Stars

Research

RoboMarkets provides research from Claws & Horns, an independent research firm that offers various forms of analytics content, including trading signals.

RoboForex research portal

The R Trader platform also allows traders to create automated trading strategies without the need to know complex coding, in addition to what is available on the MetaTrader and cTrader platforms. RoboForex also provides two solutions, CopyFx and RAMM, for social copy trading.

The broker also offers a blog-style daily analysis and market commentary, helping to round out its research offering.

FeatureRoboMarkets (RoboForex)IGSaxo BankCMC Markets
Daily Market Commentary Yes Yes Yes Yes
Forex News (Top-Tier Sources) Yes Yes Yes Yes
Weekly Webinars No Yes Yes Yes
AutoChartist No Yes Yes No
Trading Central (Recognia) No No No Yes
Delkos Research No No No No
Social Trading / Copy-Trading Yes Yes Yes Yes
Social Sentiment - Currency Pairs No Yes Yes Yes
Economic Calendar Yes Yes Yes Yes
Research 3 Stars 4.5 Stars 4.5 Stars 4.5 Stars

Platforms & Tools

RoboMarkets is primarily a MetaTrader broker offering the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms developed by MetaQuotes Software Corporation. To learn more about MT4, read our MetaTrader guide. Through its RoboForex brand (outside of the EU), the broker offers the cTrader platform developed by Spotware Systems. To learn more about this platform, read our cTrader guide.

MetaTrader4 Desktop Forex Brokers

While MT4 comes standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.

Besides spreads, the range of instruments, and account types, RoboMarkets offers news headlines from Dow Jones, FxWirePro, and Claw & Horns.

The Umstel platform is branded as R Trader at RoboMarkets (and at RoboForex) and comes as a web-based app that provides a simple user interface for creating trading strategies, in addition to basic charting and trading operations.

RoboMarkets R Trader web platform

The Strategies Builder comes with a library of default strategies that can be customized, allowing for user-friendly automated trading strategies, such as specifying price conditions related to the state of candle or indicator, and creates an order when triggered.

RTrader algo builder web

The charts are easy to use in R Trader, and support multiple timeframes, four chart types, 31 indicators, and seven drawing tools. Instruments can also be overlaid, and drawing basic trend lines is generally easy.

R Trader web charts

The watch list and trade ticket window are well designed, as it was very easy to switch between order entry windows – including trading from the order book, and adding instruments to a favorites list.

RTrader watchlist

The R Trader platform is ideal for intermediate traders looking to make a foray into algorithmic trading but who are not ready to learn how to write the code platforms such as MetaTrader and cTrader require. On the other hand, the R Trader platform is unlikely to support more advanced trading systems that usually require complex adaptations to changing market conditions, yet RoboMarkets offers both options to suit its trader’s needs.

FeatureRoboMarkets (RoboForex)IGSaxo BankCMC Markets
Virtual Trading (Demo) Yes Yes Yes Yes
Proprietary Platform No Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes Yes
Web Platform Yes Yes Yes Yes
Social Trading / Copy-Trading Yes Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes No Yes
MetaTrader 5 (MT5) Yes No No No
cTrader No No No No
Charting - Indicators / Studies (Total)51224781
Charting - Drawing Tools (Total)31171724
Charting - Trade From Chart Yes Yes Yes Yes
Watchlists - Total Fields712128
Order Type - Trailing Stop No Yes Yes Yes
Platform & Tools 3.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars

Mobile Trading

RoboMarkets offers iOS and Android mobile trading applications for its MetaTrader platforms, available directly from the developers on the iTunes Store and Google Play. To learn more about MT4, read our guide to MetaTrader. For traders outside the EU, the broker offers the cTrader mobile app from its RoboForex brand. To learn more about cTrader mobile, read our cTrader guide.

FeatureRoboMarkets (RoboForex)IGSaxo BankCMC Markets
Android App Yes Yes Yes Yes
Apple iOS App Yes Yes Yes Yes
Trading - Forex Yes Yes Yes Yes
Trading - CFDs Yes Yes Yes Yes
Alerts - Basic Fields Yes Yes Yes Yes
Watch List Yes Yes Yes Yes
Watch List Syncing No Yes Yes Yes
Charting - Indicators / Studies30264123
Charting - Draw Trend Lines Yes Yes Yes Yes
Charting - Trend Lines Moveable No Yes Yes Yes
Charting - Multiple Time Frames Yes Yes Yes Yes
Charting - Drawings Autosave Yes Yes Yes Yes
Forex Calendar No Yes Yes Yes
Mobile Trading 3 Stars 4 Stars 4.5 Stars 4 Stars

Other Notes

RoboMarkets offers a rich back office experience, with advanced features that include robust security measures such as two-step authentication and SMS verification, and access to the research portal.

Final Thoughts

The brands under RFG Holdings offer traders numerous choices when it comes to automated trading and social copy trading, along with a good array of research tools and account options to select.

RoboMarkets serves EU clients with MetaTrader platforms, whereas RoboForex caters to non-EU clients, and offers the cTrader platform from its Belize-regulated entity.

Adding additional regulatory licenses from major jurisdictions would help the broker compete with its peers in the multi-asset category, considering the wide range of stock CFDs and range of platforms, including the R Trader platform, available to facilitate the use of automated trading strategies.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.


Steven Hatzakis

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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