Bank transfers, credit cards, and e-wallets are just a few of the different ways that the company accepts deposits and withdrawals. The majority of deposit options are cost-free, but some may incur a modest fee based on the currency and the amount being placed. In general, withdrawals are free, although depending on the currency and the amount being withdrawn, some methods may charge a small fee.
For accounts that have been dormant for longer than 90 days, RoboForex commissions levies a $5 monthly inactivity fee. If no trades, deposits, or withdrawals have been made during this time, the account is deemed inactive. It’s vital to remember that the inactivity fee only applies to the accessible balance, not the account balance when there is inactivity. This Traders Union article indicates that there won’t be an inactivity fee assessed if there is no accessible balance.
Account Types
Selecting the appropriate dealing account type for your dealing style is crucial because the company offers a variety of account kinds, each of which has unique benefits and expenses. So read this article. Together with the spread, the ECN-Pro NDD account also levies a commission for each lot traded. Lower commission rates are offered for greater dealing volumes. The commission varies depending on the volume of dealing. For sellers who need access to large liquidity pools and quicker execution times, this account type is ideal.
The Prime account is made for experienced sellers who need more sophisticated dealing tools and capabilities. Together with the spread, this account additionally levies a commission each lot exchanged. The only fee associated with Pro-Standard and Pro-Cent accounts is the spread. The spread is simply the cost of dealing and is defined as the difference between the bid and ask price. Depending on the currency pair or other dealing instrument, the spread fluctuates, but overall it is highly competitive with other dealers. Since the Pro-Cent account’s minimum trade size is 0.01 lots, it is intended for sellers who want to begin with lower dealing volumes.
Conclusion
Traders should only trade with money that they can afford to lose because they should be aware of the various hazards associated with dealing, including the chance of losing money.
To accommodate various dealing styles and preferences, company provides a variety of dealing accounts. In comparison to other dealers on the market, the company typically charges reasonable fees and commissions according to Traders Union. When selecting a dealer, it is crucial to give the fees and commissions due thought as these expenses can significantly affect dealing profitability.
Swap costs, which are essentially the cost of borrowing money, are assessed on positions that are held overnight. Based on the difference in interest rates between the two currencies in the exchanged currency pair, the swap charge is determined. Competitive swap fees are charged by the company, and the fees are visible on the dealing site.
