RoboMarkets is not publicly traded and does not operate a bank.
RoboMarkets is authorized by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).
RoboMarkets provides research from Claws & Horns, an independent research firm that offers various forms of analytics content, including trading signals.
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.
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. Through its RoboForex brand (outside of the EU), the broker offers the cTrader platform developed by Spotware Systems.
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.
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.
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.
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.
RoboMarkets offers iOS and Android mobile trading applications for its MetaTrader platforms, available directly from the developers on the iTunes Store and Google Play. For traders outside the EU, the broker offers the cTrader mobile app from its RoboForex brand.
To open am account with RoboMarkets, all you have to do is visit their website and open the account opening form.
You will be required to provide certain documents during before the account opening process can be completed.
These documents are for identity verification and for residential address verification.
To verify your identity, you will need to scan and send one of the following –
To verify your residential address, you will need to provide one of the following –
You can fund your RoboMarkets account through a variety of means. These include –
Note that for bank transfer, charges may apply, depending on the bank you are transferring from.
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.
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.
I trust this RoboMarkets Review 2020 has been informative enough. Happy trading!