RoboMarkets Review

RoboMarkets is owned and operated by the RoboForex Group, which also operates the RoboForex.com brand. Interestingly, RoboMarkets began in 2009 as RoboForex, but was split off from the other site in 2012 in order to serve the European Union trading population, as a Cyprus-based company. What makes RoboMarkets so distinctive is the unique trading robots builder, which requires no programming skills. With RoboMarkets you are able to profit from the relative performance of one stock to another. This concept may be familiar to traders who have traded Forex before, where one currency is traded relative to another.

RoboMarkets Account Types

One great thing about RoboMarkets is that they accept customers from the EU and around the world. Within minutes, you can open account and start out with as little as $100 or equivalent in Pounds Sterling or Euros. There are numerous deposit methods available including credit card, wire transfer, Skrill, iDEAL, and CashU. There are no fees for deposits, although there are processing fees for withdrawals.

Another exciting feature of RoboMarkets is the various account types, each with their own unique benefits. While you can start out with just $100 on any of the five accounts;

• The «Prime» account includes best trading conditions available at RoboMarkets (similar to liquidity providers), which are intended for experienced traders

• «ECN» accounts have very low spreads, this accounts are intended for professional traders, who prefer «advanced» trading conditions.

• «Pro-Standard» is the most demanded account type at RoboMarkets, which is suitable for traders with different experience on the currency market.

• The «Pro-Cent» account type uses cents as its base currency (EU Cent, US Cent, etc.), it allow traders to test new trading strategies with small deposits.

• «R Trader» is a unique account for trading through multi-asset web platform R Trader for experienced traders, who want access all major financial market from a single account.

Along with the basic educational materials at the bottom of the site (FAQ, how-to pages, video tutorials—the “demo” is not a demo account at all, but another video tutorial), there are additional educational resources and trading tools open to traders at the different account tiers. Some of these include indicators, trade control and risk management features, strategy training, daily market review, and assistance from a personal trade expert.

How Trading Works with RoboMarkets

The trading platform uses a proprietary system, and it has some unique features and capabilities which are very exciting. You can trade on your home computer or on your Android or iPhone. Trades start out at $20 and run as high as $600-$6,000 (it depends on the account tier you are in). There are 109 different stocks, currencies, indices, and commodities you can trade.

There are two ways to trade on RoboMarkets. You can either do standard High/Low binary options trades. Here is an example of a RoboMarkets option which you could trade. You might navigate to the trading platform and then click on the Facebook/Google pair option. You are asked a very basic question by the platform: “Which will perform better? Facebook or Google?”

Then all you have to do is decide, based on your knowledge, which stock will outperform the other within a given time period. If you choose the higher-performing stock, then you win your trade. If you don’t, you lose the trade. You can win returns up to 83%, though there is no out-of-money reward. What is interesting about the RoboMarkets options is that you can profit from a stock even if it is falling, assuming it still outperforms the other stock in question. Traditionally speaking, stock traders profit off of gains and not losses. So it is very interesting to be able to profit from a falling stock in this manner.

Customer Service and Reputation

RoboMarkets is a European broker regulated by the CySEC, license No. 191/13 which allows the company to provide financial services only to the residents of the EU/EEA countries. There are a variety of ways you can reach customer service, including via web form, email (there are different addresses for different departments and enquiries), telephone, or live chat. There was no one staffing the live chat desk during a weekday during standard trading hours when we checked, but this may have been an anomaly given the company’s strong reputation for good service.