In this article, we’ll discuss the RoboForex account types including necessary pieces of information you should know before opening an account.
Founded in 2009, RoboForex established itself as a well-known financial broker for its access to a wide range of trading assets and multifunctional trading platforms. Headquartered in Belize, the broker is authorized by IFSC (Belize) and CySEC (Cyprus).
At present, RoboForex is serving its service to more than 1,000,000 clients in 19 languages in 169 countries.
Also Read: RoboForex Review
RoboForex Accounts Types
RoboForex offers 5 different types of trading accounts with a large variation in features and facilities for meeting every possible need of a trader.
The broker also provides demo account facilities for the traders interested to taste the live markets. With a RoboForex trading account, you’ll be able to use MT4, MT5, cTrader, and its unique RTrader platforms.
1. RoboForex Cent Account
Also known as the RoboForex Pro-Cent account, specially designed for beginners. The key feature of the RoboForex Cent account is, it uses cents as the base currency. Therefore, it is an ideal forex trading account for those who want to start with small capital. Sometimes, experienced professionals also use this account to test their forex trading strategies.
RoboForex Cent account allows you to trade 36 forex currency pairs, metals, and cryptocurrencies. The minimum deposit for a Pro-Cent account is $10 or €10. You’ll enjoy maximum leverage of 1:2000 including RoboForex deposit bonus and loyalty bonus. Spread in cent accounts are in a floating mode starting from 1.3 pips.
2. RoboForex Pro – Standard Account
The Pro-Standard is one of the most popular RoboForex account types. One big reason behind its popularity is, its features are well balanced which suits both beginners and experienced traders. It means even if you start as a newbie with a Pro-Standard account, you can still raise your capital and expand your trading area without changing your account.
With a RoboForex Pro-Standard account, you’re allowed to trade 36 forex currency pairs, Metals, CFDs on, CFDs on Indices, CFDs on US Stocks, and Cryptocurrencies. The minimum deposit for a Pro Standard account is $10 or €10 and the leverage is allowed up to 1:2000.
Both RoboForex Cent and Standard account offers the same floating spread which starts from 1.3 pips. The standard account is entitled to all types of RoboForex deposit bonuses and loyalty bonus offers.
3. RoboForex ECN Account
The most attractive feature of the ECN account is its tighter spreads which start from as low as 0 pips. It also provides high-speed order executions.
The initial deposit requirement for a RoboForex ECN account is only $10 or €10 which is pretty low compared to other competitive brokers providing ECN account facilities.
Moreover, as an ECN trader, you’ll get full access to all the top traded forex currency pairs, Metals, CFDs, Stocks & Cryptocurrencies. It includes a $20 commission charge per $1,000,000 traded.
The maximum leverage facility in this account is up to 1:500. RoboForex ECN is entitled to all sorts of loyalty bonuses but excludes deposit bonuses.
The RoboForex ECN account is specially designed for professionals. With the tightest spreads and instant execution facilities, the ECN account brings a perfect trading atmosphere for experienced forex scalpers.
Related Reading: Standard Account vs ECN Account
4. RoboForex Prime Account
The RoboForex Prime is a multi-functional trading account where you can use USD, EUR, RUB, and Gold as your base currency. With this account, you can trade 28 forex currency pairs, Metals, Cryptocurrencies, and CFDs on US Stocks, Indices & Oil.
The Prime account includes a commission of $15 charged per $1,000,000 traded. The spreads are floating from 0 pips and the price is quoted in 5 digits after the comma. The maximum leverage allowed in this account is 1:300 and the minimum deposit requirement is $10 or €10 only.
As a prime account trader, you’ll enjoy all kinds of loyalty bonuses provided by the broker excluding the deposit bonuses. You’ll also enjoy a 5% cashback or rebate based on the revenue earned by the broker from your trading activities.
RoboForex Prime account doesn’t have any restriction over the number of opened positions and the maximum order volume allowed is 500 lots. This account is known as an ideal home for long-term experienced professionals.
5. RoboForex R Trader Account
It is a unique trading account that allows you to use the multi-asset web platform RTrader. You will have the access to all major financial markets from a single trading platform provided by the R Trader account.
Here, you can trade over 12,000 Indices, Cryptocurrencies, Real Stocks, CFDs on Stocks, Oil, Metals, and all the forex currency pairs.
R Trader uses floating spreads that start from as low as 0.01 USD and the maximum leverage offered is 1:300.
It doesn’t charge any commission on forex instruments but applies a trading commission on Stocks, Indices, and Cryptocurrencies which starts from $0.25. Withdrawal from the R Trader account is completely free.
The most interesting feature about the RoboForex R Trader is, that its trading platform includes a “robot builder” so that you can create your own automated trading solutions. If you have a fascination over a wide range of trading assets including EAs, R Trader may suit your requirements.
Demo Account – RoboForex Account Types
The RoboForex demo offers an excellent opportunity for traders who want to test their skills and trading strategies in the live markets without an expense.
The demo traders get access to a wide range of trading assets including forex currencies, Metals, Cryptocurrencies, and more. Anybody can open a RoboForex Demo account just by filling out a simple form with your name and contacts.
On May 27th, 2019, RoboForex officially announced the implementation of its MT4 Demo ECN & Pro account. The broker also confirmed that they are optimizing the operations of its other types of demo accounts.
Check Out: RoboForex Withdrawal for Free
RoboForex Account Types FAQs
What are the different types of RoboForex accounts?
RoboForex offers six types of live accounts – Pro-Standard, Pro-Cent, ECN, Prime, and R Trader. Demo accounts are also available.
Which RoboForex account is best for me?
It depends on your trading style and objectives. The Pro-Standard account is a good all-around account type, while the ECN-Pro NDD account is best for scalpers and day traders.
How much money do I need to open an account?
The minimum deposit for a Pro, ProCent, or ECN account is $10, while the minimum deposit for an R Trader or Prime account is $100.
Does RoboForex offer a demo account?
Yes, RoboForex offers a free demo account with virtual currency. This is a great way to test out the platform and practice your trading strategies.
Does RoboForex offer Islamic accounts?
Yes, RoboForex offers Islamic accounts which are compliant with Sharia law and are Swap-Free accounts.
Is Roboforex an ECN broker?
Yes, it is an ECN (Electronic Communication Network) broker. An ECN broker is a forex financial expert that uses electronic communications networks (ECNs) to provide its clients access to other participants in the currency markets.
RoboForex accounts are structured in a much more user-friendly way. Both the terms and features are quite simple and easy to follow.
The experts behind the broker have well analyzed the natures and basic needs of the traders which is directly reflected in their innovative account features.
Here, we’ve tried to explain each type of trading account provided by RoboForex. We hope this guide will help you to find the right account for you.
Please let us know your thoughts or experiences about the RoboForex account types in the comment section.