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IG Group vs RoboForex Broker Comparison Review and Key Features to Trade Successfully

    Quick Facts

    • 1. Founded: IG Group (1974) vs RoboForex (2009)
    • 2. Regulation: IG Group (FCA, ASIC, MAS, FINMA) vs RoboForex (CySEC, IFSC)
    • 3. Tradable Markets: IG Group (17,000+ markets) vs RoboForex (12 asset classes)
    • 4. Trading Platforms: IG Group (MetaTrader 4, L2 Dealer, ProRealTime) vs RoboForex (MetaTrader 4/5, cTrader, R StocksTrader)
    • 5. Fees: IG Group (0.10-2% spreads) vs RoboForex (0.1-3 pips spreads)
    • 6. Minimum Deposit: IG Group (£250) vs RoboForex ($10)
    • 7. Leverage: IG Group (up to 500:1) vs RoboForex (up to 2,000:1)
    • 8. Customer Support: IG Group (24/7 phone, email, live chat) vs RoboForex (24/7 phone, email, live chat)
    • 9. Education and Research: IG Group (daily news, analysis, webinars) vs RoboForex (economic calendar, news, analysis)
    • 10. Account Types: IG Group (Standard, Premium, API) vs RoboForex (Classic, Premium, Affiliate)

    IG Group vs RoboForex: A Comprehensive Comparison of Two Forex Brokers

    When it comes to forex trading, choosing the right broker can make all the difference in your success. With so many options available, it can be overwhelming to compare and select the best one for your needs. In this article, we will compare two popular forex brokers: IG Group and RoboForex. We will examine their features, fees, and services to help you make an informed decision.

    Overview of IG Group and RoboForex

    IG Group is a well-established online trading platform that has been in operation since 1974. It is listed on the London Stock Exchange and has a strong reputation for providing reliable and secure trading services. IG Group offers a wide range of trading products, including forex, CFDs, shares, and cryptocurrencies.

    RoboForex, on the other hand, is a newer forex broker that was established in 2009. Despite its relatively short history, RoboForex has quickly gained popularity among traders due to its competitive pricing, advanced trading tools, and low minimum deposit requirements.

    Regulation and Security

    When it comes to forex trading, regulation and security are top priorities. Both IG Group and RoboForex are regulated by reputable authorities.

    IG Group is regulated by the Financial Conduct Authority (FCA) in the UK, which is one of the most stringent regulatory bodies in the world. IG Group is also regulated by other authorities, including the Australian Securities and Investments Commission (ASIC) and the European Union’s Markets in Financial Instruments Directive (MiFID).

    RoboForex, on the other hand, is regulated by the International Financial Services Commission (IFSC) in Belize. While this regulation is not as strict as the FCA, it still provides a level of security and protection for traders.

    Trading Platforms

    Both IG Group and RoboForex offer a range of trading platforms to suit different types of traders.

    IG Group offers its own proprietary trading platform, which is available on desktop and mobile devices. The platform provides advanced trading tools, including real-time market data, technical analysis charts, and risk management features.

    RoboForex, on the other hand, offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are widely used by forex traders and provide a range of advanced trading tools, including automated trading systems and technical analysis indicators.

    Account Types and Fees

    Both IG Group and RoboForex offer a range of account types to suit different types of traders.

    IG Group offers three main account types: a standard account, a premium account, and an ISA account. The standard account has a minimum deposit requirement of £250 and offers competitive spreads and commission rates. The premium account has a minimum deposit requirement of £25,000 and offers additional benefits, including personalized support and priority withdrawals.

    RoboForex, on the other hand, offers a range of account types, including a micro account, a standard account, and an ECN account. The micro account has a minimum deposit requirement of just $1 and offers competitive spreads and commission rates. The ECN account has a minimum deposit requirement of $10,000 and offers direct market access and advanced trading tools.

    Spreads and Commission Rates

    Both IG Group and RoboForex offer competitive spreads and commission rates.

    IG Group offers spreads as low as 0.6 pips on major currency pairs, such as EUR/USD and GBP/USD. The broker also charges a commission rate of £3.00 per lot on forex trades.

    RoboForex, on the other hand, offers spreads as low as 0.1 pips on major currency pairs. The broker also charges a commission rate of $1.40 per lot on forex trades.

    Deposit and Withdrawal Options

    Both IG Group and RoboForex offer a range of deposit and withdrawal options to suit different types of traders.

    IG Group accepts deposits via bank transfer, credit/debit cards, and PayPal. Withdrawals can be made via bank transfer and credit/debit cards.

    RoboForex accepts deposits via bank transfer, credit/debit cards, and e-wallets, such as Skrill and Neteller. Withdrawals can be made via bank transfer, credit/debit cards, and e-wallets.

    Customer Support

    Both IG Group and RoboForex offer excellent customer support to help traders with their trading needs.

    IG Group offers customer support via phone, email, and live chat. The broker also has a comprehensive FAQ section and a trading community forum.

    RoboForex, on the other hand, offers customer support via phone, email, and live chat. The broker also has a comprehensive FAQ section and a trading community forum.

    Rating and Comparison Table

    Feature IG Group RoboForex
    Regulation FCA, ASIC, MiFID IFSC
    Trading Platforms Proprietary platform MT4, MT5
    Account Types Standard, Premium, ISA Micro, Standard, ECN
    Minimum Deposit £250 $1
    Spreads 0.6 pips 0.1 pips
    Commission Rates £3.00 per lot $1.40 per lot
    Deposit Options Bank transfer, credit/debit cards, PayPal Bank transfer, credit/debit cards, e-wallets
    Withdrawal Options Bank transfer, credit/debit cards Bank transfer, credit/debit cards, e-wallets
    Customer Support Phone, email, live chat Phone, email, live chat

    Rating: IG Group 4.5/5, RoboForex 4.2/5

    Please note that the ratings and comparison table are subjective and based on our research. They may not reflect your individual experience with these brokers.

    Final Thoughts

    Choosing the right forex broker can be a daunting task, especially for beginner traders. By comparing the features, fees, and services of IG Group and RoboForex, we hope to have provided you with a better understanding of what to expect from these two reputable brokers.

    Remember to always do your own research, read reviews, and test the trading platforms before making a decision. Happy trading!

    Disclaimer

    This article is for informational purposes only and should not be considered as investment advice. Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Please seek the advice of a financial advisor before making any investment decisions.

    Frequently Asked Questions:

    Overview

    IG Group and RoboForex are two prominent players in the online forex trading industry. In this FAQ section, we’ll delve into the key similarities and differences between these two brokers to help you make an informed decision.

    Q: What are the key services offered by IG Group and RoboForex?

    A: Both IG Group and RoboForex offer forex trading, CFDs, and other financial instruments.

    Q: What is the minimum account size required for IG Group and RoboForex?

    A: The minimum account size required for IG Group varies depending on the account type, but for a standard account, it is around $250. For RoboForex, the minimum account size is $10 for a Pro-Standard account.

    Features Comparison

    Features IG Group RoboForex
    Leverage Up to 1:200 Up to 1:2000
    Trading Platforms MetaTrader 4, MetaTrader 5, L2 Dealer MetaTrader 4, MetaTrader 5, cTrader
    Market Analysis Extensive market analysis tools and research reports Market news, economic calendar, and analyst forecasts
    Mobile Trading Mobile applications for Android and iOS Mobile applications for Android and iOS

    Trading Conditions

    Conditions IG Group RoboForex
    Trading Hours 24 hours, 5 days a week 24 hours, 5 days a week
    Spreads From 0.7 pips (USD/GBP) From 0.0 pips (EUR/USD)
    Execution Model ECN (Electronic Communication Network) ECN (Electronic Communication Network) and STP (Straight Through Processing)

    Fees and Charges

    Fees IG Group RoboForex
    Commission $10 (min) 0% (for Pro-Standard account)
    Overnight Charges Yes (varies depending on the instrument) Yes (varies depending on the instrument)
    Inactivity Fees Yes (monthly fee of $12) No

    Account Types

    Account Types IG Group RoboForex
    Demo Account Available Available
    Standard Account Yes (minimum account size: $250) Yes (minimum account size: $10)
    Pro Account Yes (requiring $500) Yes (requiring $5,000)

    Customer Support

    Customer Support IG Group RoboForex
    Phone Support Yes (24/7) Yes (24/7)
    Live Chat Support Yes (24/7) Yes (24/7)
    Email Support Yes (24/7) Yes (24/7)

    Regulatory Compliance

    Regulatory Compliance IG Group RoboForex
    Regulatory Authority FCA (Financial Conduct Authority) and ASIC (Australian Securities and Investments Commission) FSC (Financial Services Commission of Belize) and CySEC (Cyprus Securities and Exchange Commission)
    Compliant with EU and US regulations Yes Yes

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