Due to the prices of Bitcoin, Ethereum skyrocketing within the past year, many online exchanges which make use of these assets have been launched recently. However, when choosing such a service, one has to be extremely careful in terms of how the exchange operates, and whether the people behind the project are to be trusted or not.
About the Service
According to information sourced from the company's website, RoboForex Ltd is a member of the RoboForex group, an investment conglomerate that was launched in the year 2009. From the get go, the aim of this organization has been to create “ comfortable trading conditions” for potential investors all over the globe. In addition to this, the company prides itself on the fact that they provide the same level of service to its investors “regardless of their market experience, or the amount of money they are putting in”.
Which Trading Model Does RoboForex Use?
Simply put, RoboForex uses a hybrid business model that combines aspects of the STP (Straight Through Processing) and MM (Market Maker) trading schemes. For all cent accounts, this platform serves as a ‘market maker’. This is due to the terms of the liquidity provider, which do not allow transactions fewer than some specific volume.
In cases of standard and ECN accounts, RoboForex makes use of the aforementioned STP mechanism to bridge the gap between itself and a liquidity provider.
Important Features To Consider
One of the biggest problems with many online exchanges that are coming up today is that they don't possess adequate trading licenses. However, RoboForex is an “internationally recognized broker” that holds a special brokerage license at IFCS Belize .
Market volatility is something we all have to live with, but in the case of RoboForex, it keeps the account balance of all its customers at 0 even if there is a sudden drop in market value of our crypto assets. .
According to information that can be found online, we can see that RoboForex Ltd is a member of the ‘Compensation Fund of The Financial Commission’. As a result of this membership, if a broker refuses to make payments to traders, the fund guarantees compensation to such individuals (covering up to 20,000 USD in cost). In addition to this, RoboForex is also a member of the international Financial Commission as well as the Ukrainian Center for OTC Instruments and Technologies (UCRFIN).
Other Details To Keep In Mind
- Trade Possibilities: this platform allows users to trade with currencies such as Bitcoin and Ethereum. In addition to this, it also allows us to perform CFD trades, thereby maximizing our chances of reaping good profits.
- Attractive Trade Values: in order to help propagate crypto use all across the globe, RoboForex offers its customers with quality quotes.
- No minimum deposit: there is no minimum amount of money that is required to make use of this service.
Types Of Accounts Being Offered
Pro-Standard: this is the most commonly used account type in Roboforex. It features a good balance of high yield/ low risk trading, thereby making it suitable for both beginners and experienced traders.
ECN-Pro: this account type is designed solely for crypto professionals who spend large amounts of time trading digital assets. ECN Pro is particularly suited for those persons looking for the best trading conditions with tight spreads.
R Trader: this is a unique “multi-asset web platform” which has been made through the combination of different modern technologies. It features a designer interface, and provides its users with access to all of the world’s major financial markets.
How Do I Signup For RoboForex?
In order to make use of RoboForex, all one has to do is visit the official company website, and click on the “Open an Account” button. The entire process is quite straightforward, and can be completed within a matter of minutes. Valid ID’s are needed to complete the process, thus it is advised that users keep such relevant documents at hand. For any queries or doubts, users can get in touch with company representatives by emailing them, or dropping a message on the “Contact Us” page.