If you have a clear idea of what type of account will be most suitable for your trading style and have chosen a platform that you need or already know then you will want to compare fees.
For starters, competition from top brokerages and market efficiency in general have reduced price and fee competition in recent years. In some European countries, it is difficult to find a broker with significantly cheaper fees than its competitors. One broker will have slightly cheaper CFD fees, another will have slightly better Forex fees, and a third will have very good conditions for stocks, but will be slightly worse for CFDs and Forex. Simply, it will always be a combination of some better and some slightly worse fees. No one can be the cheapest in everything.
RoboMarkets attacks the leading positions in some European countries with its fees. This broker offers very low share fees where the fee is $0.0045 per share (minimum $0.25 per trade). If you have an R Trader account with 1:1 leverage then you will have free US stocks and ETFs ie your only cost will be the spread.
RoboMarkets also offers very favorable Forex fees. In some currency pairs, the spread + commissions are the lowest in some countries (eg EURUSD – 3-4 USD, USDJPY – 4-5 USD / 1 lot, AUDUSD – 5-6 USD / 1 lot).
They also try to outperform the competition by indices. So RoboMarkets offers CFD on DAX 30 with a fixed spread of 0.5 points (+ commission) 0.7 points (without commission).
The question arises whether the broker's tactic is to win clients with such fees or whether he has well-negotiated terms with his suppliers and so many buyers worldwide that he will be able to maintain such good fees in the long term.
If you are suspicious of fees that look too good, then there is nothing easier than opening a demo account and checking for yourself.
Copy FX – a unique RoboMarkets platform for social trading
RoboMarkets is also a very strong player in the field of social trading. Through a service called CopyFX, you can copy the trades of other traders with a CopyFX account. eToro is probably the most famous platform of its kind in the world. You can use the CopyFX service as both a trading signal provider and a signal receiver.
If you personally trade and think your results are interesting, so that other traders / investors would like to copy your trading orders, you can open a CopyFX account with RoboMarkets and join the Ranking and offer your trading orders for copying.
In addition to the fact that you can present your trading results in a transparent way, CopyFX offers you the possibility of receiving a reward in case others copy you. The service offers you several options to adjust how you want to be rewarded. If you are a successful trader, you have the opportunity to earn extra money by securing your trading orders.
If you want to copy trade orders from ranked traders, select them and link to them with your account. When you connect with a merchant, your account will have the same transactions as their account.
The advantage is that you have full control over the account and set the risk level and position size and other things. This is why this trading method is becoming more and more popular. However, it is important to have knowledge and experience in evaluating and selecting individual traders. If you make the wrong choice, instead of winning, you can end up losing.
