Based on your trading volume and needs, you should determine whether an ECN account is beneficial. ECN brokers are NDD (non-dealing desk) brokers that electronically match clients in a trade to liquidity providers. An ECN broker executes orders on financial markets across the ECN. I like the trading environment at RoboForex for all types of traders, but especially for active high-frequency traders, scalpers, and equity traders. Algorithmic trading remains at the core of RoboForex, where it offers a proprietary trading platform allowing traders to create automated trading strategies without the need to code.
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The platform allows copy-trading, but if this is something you’re particularly interested in, check out eToro’s easy-to-use copy trading platform. A huge number of stocks are available to be traded on every account type except the ProCent account. Moving to the markets offered, it is important to note that not all assets may be available depending on your location. The only fee may be if you deposit a non-base currency and have to pay a small conversion fee.
According to my findings, the combination of zero commissions and floating spreads from 1.3 pips on RoboForex’s Pro and R StocksTrader accounts slightly exceeds the industry average. In comparison, the spread-based Prime and ECN accounts have some of the most competitive trading fees in the industry. RoboForex stands out for its favorable prices and a choice of trading platforms, including MetaTrader 4, MetaTrader 5, and the broker’s proprietary R StocksTrader.
Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down. The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. The broker does not charge dormant accounts with an inactivity fee. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com.
- The broker also provides extensive supporting content and trading tools.
- We base our research on various factors such as fees, commissions, spreads, account types, trading tools, forex trading platforms, security, regulation, and more.
- You will have access to a few more assets, 36 in total for currency pairs and also metals, US stock CFDs, index CFDs, and oil CFDs.
- The Roboforex ProCent account can be opened with just a $10 minimum deposit and is a popular choice among those who want to trade with no commissions.
This is a normal method used by forex brokers to make a profit and keep the lights on. The RStock Trader account is targeted at professional traders, though with a minimum deposit of $100 it remains accessible to all. Here you can trade indices, real stocks, CFDs on stocks, forex and ETFs, CFDs on oil, CFDs on metals, and even CFDs on Brazilian stocks. Here you can also get started with a low minimum deposit of just $10. The spread starts from 1.3 pips here and you will be able to choose from 36 currency pairs, metals, US stock CFDs, index CFDs, and oil CFDs.
Each one of these platforms is highly customizable and one-click trading is widely possible also. There are many trading features you will encounter along your journey with the broker. There is a huge number of deposit methods catered for, more than 20 in total. Anyway, you will have your choice of many deposit currencies including the USD, BRL, CNY, THB, LAK, MMK, KHR, VND, EUR, MYR, AED, AUD, CLP, IDR, PLN, UAH, GBP, KZT, and CHF.
In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. Dealing Desk brokers will not allow scalping because of the calculating power needed to facilitate thousands of short-order trades. Firstly, users should read through the client agreement thoroughly. It may seem like a chore, but in the user agreement, the broker should state clearly whether they utilize ECN technology or other No Dealing Desk accounts.
Making a deposit to your account can be conveniently done through the terminal without even having to log into your member’s area. Such accolades from the industry are a mark of a truly respected scammed by xcritical broker.
Forex.com ECN Account
I appreciated the strong emphasis on technical analysis, which gives readers a clear sense of where to enter and exit the market. Except for the R StocksTrader account, which features more than 12,000 shares and share CFDs, RoboForex’s instruments offering is narrow and lacking diversity. There are no lower-risk securities, such as ETFs or bonds, or higher-yield/risk assets, such as cryptocurrencies. The ‘Civil LIabilities’ insurance protects the broker’s clients against omissions, fraud, negligence, errors, and other risks that may lead to financial loss. The R StocksTrader platform features more than 12,000 real shares and share CFDs.
Are RoboForex’s Fees Competitive?
RoboForex received the Verify My Trade (VMT) certificate, confirming its compliance with the strict requirements of the Financial Commission. Additionally, RoboForex implemented a Civil Liability insurance program with a limit of €2,500,000. Try by taking a look at this comprehensive guide to forex trading. Though, the in-house analytics deserves an upgrade with its cluttered charts, and basic design. The content offered is also quite mediocre, and needs a better all-round enhancement.
The MT5 platform does not allow hedging, and lacks backward capability making it less popular than the MT4 platform. Though this platform has been promoted as an upgrade to the MT5 family, it isn’t the case yet. Check out the huge range of tradable securities offered by Interactive Brokers. Now that we’ve gone through all the basics, here are some of the primary advantages offered by RoboForex. In this case, the leverage can either dramatically increase your profits, or you could be left with a huge debt. RoboForex might charge overnight fees, also known as rollover fees or swap fees, if a position is held open for more than a day.
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Roboforex is a market maker broker that also offers ECN accounts and provides for market execution throughout to all traders. RoboForex’s trading fees on its Prime and ECN accounts beat the industry average. The broker incorporates the standard suites of MT4 and MT5, which can be enhanced with add-ons, and it also offers its proprietary R StocksTrader platform.
Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?
Here it is possible to copy trades and interact with many other traders from the vast community of users. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. RoboForex provides a wide variety of written and video research materials, offering a 360-degree overview of xcritical market developments. These xcritical official site include daily market breakdowns explaining how and why the market behaves a certain way, trading signals outlining viable trading opportunities, and more. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. In my opinion, MT5 is a good option for fast and simple order execution.
The tutorials are completely free and can be accessed by logging into the Members Area and then going to Education, and RoboForex analytics center. The team has created free courses on trading on NYSE and NASDAQ stock exchanges. For example, if you have a $10,000 position, you might hold just $1,000 in your account.