When one decides to try trading stocks, crypto, or foreign exchange, one usually starts by choosing the most suitable broker service. Thus, today, we would like to help you get a clear idea of the depositing policy of one of the most reputable brokerage services on the market ― RoboForex.
Below, we will present the results of the comprehensive research performed by Traders Union ― a source, which is well-known for objective and deep reviews of online broker services and exchanges available on the international market. Their studies are aimed at helping traders and investors to find trustworthy brokerage companies and protecting them from scams.
Thus, the team of Traders Union resolved to explore the terms of use offered by one of the most popular platforms ― RoboForex. Namely, in the research under discussion, they focused on its minimum deposit requirements, methods, commissions, account currencies, and processing terms. Furthermore, to form an objective picture, they compared its rules with those set by its competitors.
To start with, let us explore the minimum deposit limits set by the broker specified. They are linked to the account type. In most cases, including Prime, ECN, ProCent, and Pro accounts, the minimum is $10 or €10. But, for advanced investors that choose an R StocksTrader account, the limit is increased ― $100.
However, the main question is whether the limits mentioned are competitive. After comprehensive research, Traders Union has found out that the RoboForex minimum deposit requirements are among the most favorable. For information, on Exness, this limit is identical ― $10, but, on AvaTrade, it is much higher ― $100.
Another point that raises extreme interest among potential users is commissions for topping up the balance. And, if you choose RoboForex, you will not be charged any fees for this service.
Besides, experts from Traders Union have studied the payment options accepted by this brokerage source. They include bank transfers, card transactions, online payment systems, vouchers, cash. In fact, the range does not differ significantly from the offers by other competitors, except for Exness, which proposes crypto transfers as an extra method.
One more detail that makes a crucial impact on the user experience is processing terms:
- online payment systems ― instantly (although some sources, for example, Skrill, can process the request up to 1 day or so);
- bank transfers ― from 1 to 3 days;
- card transactions ― immediately (the only exception is payments via China UnionPay, which usually take up to 1 day);
- vouchers ― up to 1 day;
- cash ― up to 1 day.
Also, the team of Traders Union dedicated attention to the currencies accepted by this broker. All in all, its clients can refill their accounts in 19 currencies, including EUR, USD, GBP, AUD, AED, and others. Still, one is allowed to open accounts in four major currencies only (namely, EUR, USD, CNY, GOLD). When a client decides to replenish his balance in another currency, he must be ready that it will be converted into his basic account currency in accordance with the exchange rate determined by the broker itself. As a result, the sum credited may differ from the one expected.
Compared to the terms set by other sources, the range of currencies accepted by RoboForex is sufficient, although Exness offers a much wider selection of account currency options.
And, now, let us present a step-by-step guide on how to deposit funds into a RoboForex account:
- Create your personal account and pass verification or log into it.
- Find the Deposit Funds tab.
- Choose the account for depositing from the list.
- Select the most convenient payment option.
- You will be offered to receive bonus funds for your deposit and to select the percentage. Accept the bonus or refuse it.
- Enter the sum of a transaction and the currency preferred.
- Afterward, you may be requested to specify additional details based on the method chosen.
In sum, taking into account the finding of the research performed by Traders Union, one can safely claim that RoboForex offers comfortable deposit terms, which will suit virtually any budget. Its minimum deposit requirements, currency and payment method selection, and processing speed are quite competitive compared to other services.
