RoboForex is a popular online brokerage firm that provides access to over 12,000 trading instruments across 9 asset classes. With their competitive spreads and low commissions, RoboForex aims to make global markets accessible to all types of traders and investors.
But how do RoboForex’s fees and spreads truly compare to other leading brokers in the industry? In this comprehensive review, we’ll analyze and compare RoboForex’s fees, spreads, commissions, non-trading fees, and more against major competitors like FXCM, Forex.com, OANDA, IG, and eToro.
Introduction
Choosing the right broker that offers competitive fees and tight spreads is crucial to maximize profits and minimize losses as a trader. While some brokers advertise commission-free trading, they often have high spreads or hidden fees that can eat away at your bottom line.
With so many brokers to choose from, conducting thorough research is essential to find one that best fits your trading style and goals. RoboForex markets itself as an affordable broker for all trader types, but you’ll want to see how their fees stack up against industry leaders to make the smartest choice.
This in-depth guide will cover all the key fees and charges by RoboForex, including:
- Spreads on forex, stocks, indices, commodities
- Commissions per trade
- Swap rates (financing fees)
- Inactivity fees
- Deposit/withdrawal fees
We’ll also benchmark RoboForex’s fees against five other popular brokers across each category. By the end, you’ll have all the information needed to determine if RoboForex is competitively priced or if another broker may be a better fit. Let’s dive in and start crunching the numbers!
Forex Spreads Compared
The spread is the difference between the bid (sell) and ask (buy) price on currency pairs. This is one of the main costs paid when forex trading.
Below we compare typical variable spreads during normal market conditions across popular currency pairs at RoboForex versus other leading forex brokers:
EUR/USD Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 0.4 pips |
| FXCM | 0.74 pips |
| Forex.com | 0.9 pips |
| OANDA | 0.9 pips |
| IG | 0.6 pips |
| eToro | 3 pips |
- RoboForex offers very competitive EUR/USD spreads starting from 0.4 pips. This is on par or lower than other major brokers.
GBP/USD Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 0.9 pips |
| FXCM | 1.4 pips |
| Forex.com | 1.0 pips |
| OANDA | 1.0 pips |
| IG | 0.8 pips |
| eToro | 3 pips |
- For GBP/USD, RoboForex once again shows very tight spreads from just 0.9 pips, beating most competitors.
USD/JPY Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 0.2 pips |
| FXCM | 0.5 pips |
| Forex.com | 0.7 pips |
| OANDA | 0.7 pips |
| IG | 0.3 pips |
| eToro | 2 pips |
- On USD/JPY, RoboForex shines with super tight spreads from 0.2 pips. This beat all brokers compared.
Other Currency Pairs
Beyond the major pairs, RoboForex maintains competitive spreads on other minors, exotics, and emerging market currencies. Spreads will vary based on market liquidity.
Overall, RoboForex consistently offers very competitive spreads across the most traded currency pairs compared to other industry leaders. Their proprietary bridge aggregation technology allows them to provide tight spreads by sourcing liquidity from multiple banks and ECNs.
Stock CFD Spreads Compared
In addition to forex, RoboForex also allows trading global stocks and ETFs through Contracts-for-Difference (CFDs). These provide exposure to asset price movements without owning the underlying asset.
Below we compare normal market condition variable spreads on major stock index and share CFDs:
S&P 500 Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 0.3 points |
| FXCM | 0.4 points |
| Forex.com | 0.4 points |
| OANDA | 1.0 points |
| IG | 0.4 points |
| eToro | 0.1 points |
- For Wall Street’s flagship S&P 500 index, RoboForex offers competitive spreads from just 0.3 points – on par with the lowest in the industry.
Facebook (META) Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 0.08 points |
| FXCM | 0.02 points |
| Forex.com | 0.02 points |
| OANDA | 0.05 points |
| IG | 0.02 points |
| eToro | 0.02 points |
- For individual shares like Facebook, spreads are very tight across most brokers, with RoboForex at 0.08 points or $0.0008 per share.
Other Share CFDs
RoboForex provides access to over 2,000 global share CFDs. While spreads vary across shares based on liquidity and volatility, costs remain competitive overall versus rivals.
In summary, RoboForex offers stock and index CFD spreads that are low and in line with the top-rated brokers. Traders can access global markets at reasonable costs.
Other CFD Spreads
Aside from forex and shares, RoboForex also offers CFDs on commodities, indices, and ETFs. Let’s compare spreads on some of the most widely traded instruments:
Gold Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 25 cents |
| FXCM | 30 cents |
| Forex.com | 35 cents |
| OANDA | 25 cents |
| IG | 35 cents |
| eToro | 50 cents |
- For spot gold, RoboForex provides competitive spreads from 25 cents per oz, on par with the lowest in the industry.
Oil Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | 0.03 points |
| FXCM | 0.02 points |
| Forex.com | 0.02 points |
| OANDA | 0.03 points |
| IG | 0.02 points |
| eToro | 2 points |
- On benchmark Brent crude oil, RoboForex’s spread of 0.03 points competes well against alternatives.
Bitcoin Spreads
| Broker | Typical Spread |
|---|---|
| RoboForex | $1 |
| FXCM | $5 |
| Forex.com | $3 |
| OANDA | $1 |
| IG | $5 |
| eToro | $25 |
- For CFDs, RoboForex offers competitive spreads from just $1, the same as OANDA.
Across commodities, indices, and CFD, RoboForex consistently provides very tight spreads in line with the best in the industry.
Commissions Compared
In addition to spreads, some brokers also charge commissions per trade. Here we compare RoboForex’s commissions to other brokers:
Stocks and ETFs
| Broker | Commissions | Details |
|---|---|---|
| RoboForex | $0 | No commissions on stock or ETF CFDs |
| FXCM | $0 | |
| Forex.com | $0 | |
| OANDA | $0 | |
| IG | $0.01 per share, min $3 | Charges on US share CFDs |
| eToro | $0 |
- RoboForex does not charge any commissions on stock, ETF, or index CFDs. This matches most other brokers compared.
Forex
| Broker | Commissions | Details |
|---|---|---|
| RoboForex | $3 round-turn | Per lot round-turn. Reduces based on account size |
| FXCM | $5 round-turn | Reduces with volume |
| Forex.com | $0 | |
| OANDA | $0 | |
| IG | $0 | |
| eToro | $0 |
- For forex trades, RoboForex charges $3 per 100k traded per round-turn. This is lower than FXCM but still applies to most account types. Other brokers are commission-free.
Currencies
| Broker | Commissions | Details |
|---|---|---|
| RoboForex | 0% | No commissions |
| FXCM | 0.20% | Of trade value |
| Forex.com | 0.10% | Of trade value |
| OANDA | 0.15% | Of trade value |
| IG | 0.10% | Of trade value |
| eToro | 1.90% | Of trade value |
- RoboForex does not charge any commissions on CFD trades, unlike other brokers
RoboForex offers a competitive commission structure on forex, especially for high-volume traders. No commissions on stock, ETF, or commodity CFDs is an advantage.
Financing Rates Compared
For leveraged overnight trades, a financing fee (swap rate) is charged or paid daily based on interest rate differentials. This keeps the CFDs aligned to underlying asset prices.
Here we compare example financing rates at RoboForex vs rivals:
EUR/USD Long Position
| Broker | Financing Rate |
|---|---|
| RoboForex | -1.9% |
| FXCM | -1.8% |
| Forex.com | -2.7% |
| OANDA | -1.9% |
| IG | -2.5% |
| eToro | -0.7% |
- For a long EUR/USD position, RoboForex charges a competitive financing rate of -1.9% annually. This is in line with most brokers.
S&P 500 Short Position
| Broker | Financing Rate |
|---|---|
| RoboForex | 2.8% |
| FXCM | 3.2% |
| Forex.com | 2.8% |
| OANDA | 3.2% |
| IG | 3.0% |
| eToro | 5.0% |
- On short positions, financing can be positive. For short S&P 500, RoboForex offers 2.8% competitive with alternatives.
Overall, RoboForex provides fair market financing rates in line with competitors. Rates vary based on markets and direction.
Account Inactivity Fees
To encourage active trading, some brokers charge monthly inactivity fees if not enough trades are made:
| Broker | Inactivity Fee | Details |
|---|---|---|
| RoboForex | $0 | No account inactivity fees |
| FXCM | $15 | Charged monthly if <5 trades or closes under $500 |
| Forex.com | $15 | Charged monthly if <5 trades or closes under $500 |
| OANDA | $0 | |
| IG | $0 | |
| eToro | $10 | Charged monthly if no login for 12 months |
- RoboForex does not charge any inactivity or maintenance fees, unlike some competitors who charge up to $15 monthly.
This makes them ideal for traders who focus on longer-term swing or position trading rather than scalping. No surprise fees for low activity levels is a major plus.
Deposit and Withdrawal Fees
Making deposits and withdrawals quickly and cheaply is key for active traders. Below we compare RoboForex’s fees versus competitors:
Deposit Fees
| Broker | Deposit Fees | Details |
|---|---|---|
| RoboForex | $0 | No fees for most payment methods |
| FXCM | $0 | No fees for most payment methods |
| Forex.com | $0 | No fees for most payment methods |
| OANDA | $0 | No fees for most payment methods |
| IG | $0 | No fees for most payment methods |
| eToro | $0 | No fees for most payment methods |
- Like most brokers, RoboForex does not charge fees for deposits. Multiple payment options are available.
Withdrawal Fees
| Broker | Withdrawal Fees | Details |
|---|---|---|
| RoboForex | $0 | No withdrawal fees except $25 wire transfer fee |
| FXCM | $0 | No withdrawal fees except $25 wire transfer fee |
| Forex.com | $0 | No withdrawal fees except $25 wire transfer fee |
| OANDA | $0 | No withdrawal fees except $20 wire transfer fee |
| IG | $0 | No withdrawal fees except $30 wire transfer fee |
| eToro | $5 | Flat $5 fee for most withdrawal methods |
- Like its peers, RoboForex does not charge withdrawal fees apart from a $25 wire transfer charge. This provides traders cheap, fast access to their funds.
Overall, RoboForex offers a cost-competitive deposit and withdrawal structure with no surprise fees.
Desktop & Mobile Trading Platform Fees
RoboForex provides its proprietary web-based R Trader platform free for all live or demo accounts:
| Broker | Platform Fees | Details |
|---|---|---|
| RoboForex | $0 | Free R Trader web & mobile app. No platform fees |
| FXCM | $0 | Free web & mobile platform. No fees charged |
| Forex.com | $0 | Free web & mobile platform. No fees charged |
| OANDA | $0 | Free web & mobile platform. No fees charged |
| IG | $0 | Free web & mobile platform. No fees charged |
| eToro | $0 | Free web & mobile platform. No fees charged |
- Like all brokers compared, RoboForex does not charge any incremental platform fees and provides free access on web and mobile apps.
This allows traders to access markets at the headline commission and spread costs without platform usage fees.
How RoboForex Compares: Summary
RoboForex remains highly competitive across forex, CFDs, stocks, ETFs, when comparing fees, spreads, commissions, and other charges.
- Forex spreads are among the tightest in the industry across major and minor currency pairs.
- Stock and ETF spreads are competitive market-maker spreads, in line with the best brokers.
- Spreads on other CFDs like indices, commodities are also tight.
- Forex commissions are reasonable, with no added commissions on other instruments.
- Financing rates are fair compared to other brokers.
- There are no inactivity or minimum account balance fees.
- Deposits and withdrawals are free, apart from wire transfer fees.
- Trading platforms offered are robust web and mobile apps available at no cost.
In summary, RoboForex remains a cost-effective option across multiple asset classes due to its competitive pricing model and lack of hidden fees.
For active traders seeking low costs, tight spreads, and optimized trading infrastructure, RoboForex delivers a competitive proposition vs other brokers.
The combination of ECN-level forex and CFD spreads with discounted commissions for high volume traders provides a cost advantage at most activity levels.
Overall, RoboForex stands up strongly against alternatives like FXCM, Forex.com, OANDA, IG, and eToro on fees and charges.
FAQs on Comparing RoboForex Fees
Is RoboForex legit and safe?
Yes, RoboForex is a legitimate broker regulated by Belize FSC license No. 000138/437. They implement safety measures including segregated client funds, SSL data encryption and AML procedures. Being regulated enhances safety.
What trading platforms does RoboForex offer?
The key trading platforms are MetaTrader 4, MetaTrader 5, MetaTrader Supreme, WebTrader and mobile apps. These provide advanced charting tools, indicators, EAs and algorithmic trading options.
Does RoboForex offer Islamic accounts?
Yes, Islamic swap-free accounts are available at RoboForex that comply with Sharia law by not charging swaps or rollover interest on overnight trades. Islamic accounts can be requested upon signup.
What is the minimum deposit for a RoboForex account?
The minimum deposit varies by account type. It is $10 for a Cent account, $100 for Standard, $500 for Pro and $20,000 for Prime. Lower minimums make RoboForex accessible for small deposit traders.
How much are trading commissions and fees?
For commission-free trading, there are no commissions but typical spreads of 0.4 pips EUR/USD. For low commission trading (PRO account), commissions start from $3 per standard lot traded. Other fees include overnight financing and inactivity fees.
How do I contact RoboForex customer support?
RoboForex can be contacted 24/5 via live chat, email, WhatsApp or phone. Support is available in English, Spanish, Chinese, Indonesian and other languages. Getting prompt support is vital.
Final Verdict
RoboForex provides accessible trading across a huge range of markets combined with competitive trading conditions. Regulation from top-tier authorities helps ensure reliability and safety of client funds.
With a choice of commission-free and low commission accounts, advanced MetaTrader platforms, ample learning resources and multilingual support, RoboForex delivers a solid overall offering.
Lower account minimums make RoboForex suitable for traders large and small. While occasional minor complaints can arise, RoboForex remains a recommended broker overall.
Best and Most Trusted Forex Brokers
Based on regulation, award recognition, mainstream credibility, and overwhelmingly positive client feedback, these six brokers stand out for their sterling reputations:
| No | Broker | Regulation | Min. Deposit | Platforms | Account Types | Offer | Open New Account |
|---|---|---|---|---|---|---|---|
| 1. | RoboForex | FSC Belize | $10 | MT4, MT5, RTrader | Standard, Cent, Zero Spread | Welcome Bonus $30 | Open RoboForex Account |
| 2. | AvaTrade | ASIC, FSCA | $100 | MT4, MT5 | Standard, Cent, Zero Spread | Top Forex Broker | Open AvaTrade Account |
| 3. | Exness | FCA, CySEC | $1 | MT4, MT5 | Standard, Cent, Zero Spread | Free VPS | Open Exness Account |
| 4. | XM | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Micro, Zero Spread | 20% Deposit Bonus | Open XM Account |
| 5. | ICMarkets | Seychelles FSA | $200 | MT4, MT5, CTrader | Standard, Zero Spread | Best Paypal Broker | Open ICMarkets Account |
| 6. | XBTFX | ASIC, CySEC, FCA | $10 | MT4, MT5 | Standard, Zero Spread | Best USA Broker | Open XBTFX Account |
| 7. | Vantage | ASIC, CySEC, FCA | $50 | MT4, MT5 | Standard, Cent, Zero Spread | 20% Deposit Bonus | Open Vantage Account |
| 8. | FXTM | FSC Mauritius | $10 | MT4, MT5 | Standard, Micro, Zero Spread | Welcome Bonus $50 | Open FXTM Account |
| 9. | FBS | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Cent, Zero Spread | 100% Deposit Bonus | Open FBS Account |
| 10. | Binance | DASP | $10 | Binance Platforms | N/A | Best Crypto Broker | Open Binance Account |
| 11. | TradingView | Unregulated | Free | TradingView | N/A | Best Trading Platform | Open TradingView Account |
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