This online broker is commonly recommended as the service imposing the lowest trading commissions. Taking into account its decent regulation, stellar reputation, and huge selection of investment instruments, it looks like it is at least worth considering. So, we offer you to start by exploring its fee policy.
Let us discuss its trading fees first as they have a direct influence on how much you can earn. Its fees depend on the account type and the sum of a deal. In addition to a spread, in some cases, one is also supposed to pay a separate trading commission:
- Pro-Standard Account — spreads from 1.3 pips;
- ECN Pro — from 0.0 pips (+ commission of $20 per $1 million);
- Prime — from 0.0 pips (+ $15 per $1 million);
- Pro-Cent — from 1.3 pips;
- R Trader — from 0.01 pip (+ $1.5 minimum fee).
Sure, to get an objective opinion on whether RoboForex spread is cheap enough, it is crucial to compare it with rates offered by other brokers. In general, we can conclude that its trading fees are among the most attractive on the market. So, it is cheaper than Forex4You, meanwhile, one must acknowledge that its rates are higher than those imposed by Exness.
For a complex picture, let us also discuss its non-trading commissions:
- deposit — 0%;
- withdrawal — 0% is charged by the broker itself, but the payment system used may impose its own fee (for example, in the case of card transfers, it reaches 2%);
- overnight rollover — comparable to other brokers (depends on the currencies and the position type);
- inactivity fee — $0.
As we’ve mentioned above, although RoboForex is known for its low rates, there are brokers that offer more beneficial terms. However, due to the rebates program introduced by RoboForex, you have an opportunity to receive monthly cashback from your general trade volume. The percentage varies based on the type of account. So, for Prime accounts, it reaches up to 15%, for ECN — up to 10%.
Furthermore, we have another useful tip for you — sign up for RoboForex via Traders Union and receive additional cashback on the spread and trading commission paid. No tricky demands — the only condition is to use their referral link for registration.
To sum up, we can safely mention this platform as one of the cheapest online brokers. Yet, to use its services on the most profitable terms, we insist you should take advantage of the rebates offered.