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FXCM vs RoboForex (RoboMarkets) 2023

BrokerNotes.co

Written by BrokerNotes.co

February 07, 2023

Trying to decide between FXCM and RoboForex (RoboMarkets)? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FXCM ranks more highly than RoboForex (RoboMarkets).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingFXCMRoboForex (RoboMarkets)
Overall Rating 8.5 / 10 7.3 / 10
Account TypeFXCMRoboForex (RoboMarkets)
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No Yes
Copy TradingFXCMRoboForex (RoboMarkets)
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade Yes No
CryptocurrencyFXCMRoboForex (RoboMarkets)
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)FXCMRoboForex (RoboMarkets)
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)FXCMRoboForex (RoboMarkets)
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsFXCMRoboForex (RoboMarkets)
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No No
ETF No Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsFXCMRoboForex (RoboMarkets)
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No Yes
Regulatory LicensesFXCMRoboForex (RoboMarkets)
Tier-1 Licenses 3 0
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) Yes No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 3 1
Tier-3 Licenses 0 1
Research, EducationFXCMRoboForex (RoboMarkets)
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) Yes Yes
Trading CostsFXCMRoboForex (RoboMarkets)
Minimum Initial Deposit Starts from $50 $100
Average Spread EUR/USD - Standard 1.38 (Q2 2022) 1.4 (Jan 2022)
All-in Cost EUR/USD - Active 1.38 (Q2 2022) N/A
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No Yes
Trading ToolsFXCMRoboForex (RoboMarkets)
Watchlists - Total Fields 12 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 57 30
Mobile Charting - Indicators / Studies 59 30
Trust FactorsFXCMRoboForex (RoboMarkets)
Year Founded 1999 2009
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 96 69
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FXCM vs RoboForex (RoboMarkets) Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs RoboForex (RoboMarkets).

Can I trust FXCM?

FXCM has a trust score of 96, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust RoboForex (RoboMarkets)?

RoboForex (RoboMarkets) has a trust score of 69, giving it a "High Risk" trust label.

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research โ€“ though pricing at FXM is just average.

Is RoboForex (RoboMarkets) a good broker?

RoboForex, also known as RoboMarkets, is a maturing brand that offers a stock trading app as well as 12,000 symbols available across its MetaTrader and cTrader platforms. However, RoboForex's Trust Score is below-average, as it currently holds only two regulatory licenses.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.), while RoboForex (RoboMarkets) is none., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa), while RoboForex (RoboMarkets) is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses FXCM is none, while RoboForex (RoboMarkets) is IFSC Authorised (Belize)., neither have SCB Authorised (Bahamas), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas RoboForex (RoboMarkets) supports a Desktop Platform (Windows)., neither have cTrader and DupliTrade

Does FXCM offer MetaTrader? Does RoboForex (RoboMarkets) offer MetaTrader?

For MetaTrader FXCM provides MetaTrader 4 (MT4), while RoboForex (RoboMarkets) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do FXCM and RoboForex (RoboMarkets) differ in terms of minimum deposit? What about average spreads and funding options?

FXCM requires a minimum deposit of Starts from $50, while RoboForex (RoboMarkets) requires a minimum deposit of $100. From our testing we found FXCM offers spreads of 1.38 (Q2 2022), while RoboForex (RoboMarkets) offers spreads of 1.4 (Jan 2022). FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where RoboForex (RoboMarkets) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FXCM or RoboForex (RoboMarkets)?

FXCM offers a more diverse selection of investment options than RoboForex (RoboMarkets) allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Agriculturals Looking at total tradeable symbols, FXCM has 441, compared to 12000 from RoboForex (RoboMarkets).

Can I trade cryptocurrency with FXCM or RoboForex (RoboMarkets)?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FXCM nor RoboForex (RoboMarkets) allow you to trade physical cryptocurrencies.

Who offers more research tools, FXCM or RoboForex (RoboMarkets)?

In terms of research and research tools FXCM gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison RoboForex (RoboMarkets) has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

FXCM Review

Roboforex (RoboMarkets) Review

Overall winner: FXCM

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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