There are many trader types in the markets and they all have different requirements. Some traders prefer trading currencies to trading stocks, some prefer to pay spread markups instead of commissions, etc. In order to meet the needs of different traders, RoboForex offers various account types. In addition to the live accounts displayed in the comparison table below, there are demo and swap-free (Islamic accounts) accounts available as well.

All accounts are protected by negative balance protection (NBP), which guarantees traders that even if their accounts go below zero, they will not be held liable for the negative balance. Because trading is a highly leveraged activity and traders use borrowed money from their broker to increase their purchasing power, there’s always a chance of losing more in a given trade than what you have deposited. In the unlikely event that this happens and your account goes negative, simply contact the broker and they will revert the balance back to zero. 

Prime account

This account type offers great trading conditions for trading currencies and other trading instruments. On the Prime account spreads are floating and start from zero. On the other hand, the broker charges commissions. Each asset has different trading fees. On EUR/USD the average fee is 10 USD per million traded. This account type is better suited for active traders such as day traders, scalpers, news traders, and high-frequency and algorithmic traders.

ECN account

ECN stands for Electronic Communication Network and describes the way traders are connected to the markets. ECN trading allows traders to access the interbank market and trade with the rest of the market participants directly. ECN trading offers the best trading spreads and there are no dealing desks. There are no spread markups on the ECN account and commissions are 20 USD per million traded.

ProCent and Pro account types

ProCent and Pro accounts are very similar. The main difference is that the Pro account supports the cTrader platform. There are no commissions on these account types. Instead, trading fees are included in spreads. Spreads on EUR/USD start from 1.3 pips. This fee structure makes the accounts ideal for swing traders and position traders. Traders who place orders less frequently prefer to pay spreads instead of commissions. 

R StocksTrader account

RoboForex offers a dedicated account type for trading stocks on its R StocksTrader platform. There are around 3,000 real shares and 8,400 CFDs (Contracts for Difference) on stocks available for trading in addition to indices, currencies, ETFs, oil, metals, and cryptocurrencies. 

It’s important to note that there are some differences between real stocks and stock CFDs. The primary difference between the two is the way traders gain exposure to the underlying assets. Here are some main differences:

• When trading real stocks, traders purchase and own a stake in the company they are investing in. On the other hand, when trading CFDs on stocks, traders do not own the underlying asset but rather speculate on the price movements of the underlying asset.
• Trading CFDs allows traders to use leverage and increase their purchasing power. At RoboForex leverage for trading Stocks (CFDs) is set to 20:1. This simply means that by depositing a thousand dollars, traders get to manage 20 thousand dollars worth of assets. 
• Short-term trading fees are low for CFDs and liquidity is higher. On the other hand, for investing in stocks long term, real stocks are preferable as there is no interest to pay when holding real company shares. 
• Speculators that trade CFDs have the ability to short-sell and make money even in falling markets since they are trading contracts and not physical instruments.

The minimum initial deposit required to open the R Stock Trader account is 100 USD, and spreads start from 0.01 USD. 

Demo trading accounts offered by RoboForex allow traders to practice trading in a simulated environment without risking any real money. Here are some of the main benefits of using the demo accounts at this broker:

• Practice trading risk-free: Trading on a demo account provides a risk-free way to practice trading strategies and techniques without the fear of losing money. This allows traders to gain confidence and experience in the market before risking their own capital. 
• Testing trading strategies: Traders can test different trading strategies using the demo accounts. This helps them build and update their strategies to increase their edge in the markets. Traders can place orders on live market charts using their demo accounts or they can install backtesting algorithms and save time by comparing trading strategies to historical market price action. 
• Getting used to trading platforms: RoboForex offers MetaTrader 4, MetaTrader 5, cTrader, and R StockTrader platforms to its clients, and it’s critical to become advanced in using them before placing live orders. Demo trading helps avoid potential mistakes or errors when trading using real money.
• Real-time market data: Demo accounts offered by RoboForex provide access to real-time market data, allowing traders to practice analyzing market movements and making trading decisions in real-time. 
• No financial commitment required: Demo trading accounts are free of any charges.

RoboForex offers three demo account types to choose from. Each has its own characteristics. 

RoboForex offers swap-free accounts, also commonly known as Islamic accounts. An Islamic account is a type of account that adheres to the principles of Islamic finance. Islamic finance is based on the principles of Sharia law, which prohibits charging or paying interest, engaging in speculative transactions, and investing in industries that are considered damaging to society. 

The broker offers swap-free accounts that don't charge traders with interest, instead, there are fixed commissions. The commission amount depends on the type of the instrument and size of orders calculated in lots. It should be mentioned that only MetaTrader 4 supports Islamic accounts and traders need to contact the broker’s customer support to open this account. 

Once you know which trading account best suits your interests, it’s time to pick a trading platform. The broker offers desktop, mobile, and web trading terminals to its clients. There are MetaTrader 4, MetaTrader 5, cTrader, and R StockTrader platforms to choose from. Let’s find out more about the platforms offered.

MetaTrader 4

MetaTrader 4 is also known as MT4 and is the number one platform in terms of popularity among currency traders. Here are some key features of MT4:

• MT4 offers a wide range of customizable charts and technical indicators.
• The platform supports automated trading using Expert Advisors (EAs).
• MT4 was released in 2005 and hasn’t changed much since. It may look outdated, however, this fact makes it highly reliable. The platform can easily run on even old or low-budget devices. 
• MT4 is a currency trading platform. There are no stocks available for trading on MT4, but you will find a couple of indices such as gold and silver, and some crypto derivatives offered by RoboForex.

MetaTrader 5

MetaTrader 5 is also known as MT5. The platform offers a range of additional features and improvements over its predecessor, MT4. Here are some key features of MT5:

• MT5 is a multi-asset platform, which means that it supports trading currencies, cryptocurrencies, stocks, indices, bonds, futures, commodities, and options. However, the number of available instruments is smaller on MT5 than on the R Stock Trader platform. 
• MT5 offers more tools and order types than MT4 and has a Depth of Market (DOM) feature that enables traders to analyze the bid and ask prices. 
• MT5 offers a more complex coding language than MT4 and has improved backtesting and algorithmic trading capabilities. 

cTrader

cTrader was released in 2010 and since then it has been upgraded multiple times. This trading platform supports the trading of various asset classes, however, you will not find stocks, bonds, or options on this platform. Here are some key features of cTrader:

• The platform offers a sleek and modern-looking interface that makes trading easier for beginner traders. 
• cTrader offers advanced charting capabilities and offers more time frames than MT5. 
• The software enables traders to access market depth and analyze the bid and ask prices. 
• cTrader supports algorithmic trading using cBots. The programming language of cTrader (C#) is simpler than the programming languages of MetaTraders and therefore, beginner traders will find it easier to build trading robots.

R Stock Trader 

R Stock Trader is a web-based trading platform offered by RoboForex. The trading terminal supports over 12,000 instruments including stocks, indices, ETFs, and currencies. There are no market data fees or minimum volume requirements. The platform offers a user-friendly and sleek interface with customizable chart layouts and different workspace preferences. However, for some traders, the fact that there’s no desktop version of the platform available might be a drawback. In general, desktop trading platforms are more reliable and offer better execution speed. 

To sum everything up, RoboForex is a regulated multi-asset broker that offers access to trading various asset classes using multiple account types. The available trading accounts are Prime, ECN, R Stock Trader, ProCent, and Pro. In addition to the live accounts, demo and swap-free (Islamic) accounts are also available. When opening trading accounts, traders have to choose between MetaTrader 4, MetaTrader 5, cTrader, and R StockTrader platforms. Each comes with benefits and drawbacks and it's important to learn about them more before opening an account.