Robomarkets payment methods: robomarkets deposit and withdrawal with methods, fees, deadlines

Robomarkets is a Forex and CFD broker that has been offering its services since 2013 under the regulation of the Cypriot CySEC. The broker does this with great success thanks to favorable conditions; the company now has offices in 29 European countries. Thousands of underlying assets can be traded across eight asset classes, on three different platforms and with up to 50 accounts. Not only the trading offer and the enormous transparency with the costs justify the success of the offerer, but also the payment methods. Thus, at Robomarkets deposit and withdrawal are possible with 16 different methods, and: the broker takes over possible costs at the time of deposit!

• 16 different payment methods
• Many free procedures
• Electronic wallets are part of the offer
• Robomarkets deposit basically free of charge

Deposits and withdrawals: do not forget when choosing a broker

Forex and CFD trading is carried out by a broker who opens up the markets to his clients. In order to be able to trade, a real money account must first be opened and this must then also be capitalized. In addition to deposits, disbursements will also become important later if profits are to flow back to the private reference account. The payment methods offered by an online broker can vary widely, with innovative payment solutions and even regional payment service providers represented alongside conventional methods.

• Payment procedures and conditions vary
• Bank transfers and credit card payments are always possible
• The time period until crediting depends on the payment method
• Withdrawals must be made in the same manner as deposits
• Withdrawals are often accompanied by fees
• Deposits are usually free of charge, but the house bank may charge fees

Ultimately, the available payment methods do not tip the scales in favor of a provider, but they are important nonetheless. Because the deadlines associated with value payments, and also the costs incurred, affect the profit obtained. It is not uncommon for double-digit withdrawal fees to be charged, or for the minimum deposit to be so high that newcomers are deterred from the outset. Only in the rarest cases traders can make deposit and withdrawal at optimal conditions at a broker like Robomarkets.

Fast crediting when paying by credit card

Credit cards, especially Visa and Mastercard, but also debit cards are popular among traders to replenish the trading account. The popularity of the cards is explained by the rapid crediting, often within a few minutes can already begin trading. In addition, the formerly very exclusive credit card, which was once associated with high costs, is now available from numerous banks as an add-on to the personal current account completely free of charge. Since the brokers usually do not charge any fees for card payments, the credit card remains the number one payment method. It is only important that the broker sufficiently encrypts all transmissions by SSL – if sufficient security is guaranteed, customers do not have to fear that unauthorized third parties will gain access to the data. Of course, also in their own handling of the card should be paid attention to the security, in addition, a valid credit card must be available to the broker at any time, so that it does not come to delays in payouts.

It should be noted that brokers often require a scan of the credit card, the image quality must be of good resolution, and customers do not always have the option of making some digits illegible. Those who would rather not use their credit card under these circumstances can resort to other methods, such as classic bank transfers.

Secure money transfer by bank transfer

Thanks to the introduction of the SEPA or Single Euro Payment Area, bank transfers are not only easier, but also much faster. It takes one business day for the execution of a transfer in the euro zone. And if the customer makes the bank transfer from home banking, it is also free of charge. The bank only charges fees for paper-based transfers, i.e. at the bank counter, and for orders placed by telephone.

When the credit is made, ultimately also depends on the duration of processing by the broker – you can expect two to five business days. Whether the broker adds fees here also varies on a case-by-case basis, and if it is an international bank transfer, customers must bear both interbank commissions and possible exchange rate costs.

Fast Bank: fast transfers with SafeCharge

• In addition to the classic bank transfer, there is the possibility to use payment providers that enable fast payments on the basis of the personal current account. These include Klarna or Trustly, but also Fast Bank. The payment service of the Cyprus licensed company SafeCharge Ltd. makes fee-free transfers possible within 2-3 business days. Sums between 10 and 10 can be transferred.000 euros. However, the service can not be used everywhere, because Fast Bank is only open to traders in selected countries. In addition to Germany, these include Australia, Austria, Belgium, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Malta, New Zealand, the Philippines, Poland, Portugal, Romania, Singapore, Slovakia, South Africa, Spain, Sweden, Switzerland and the United Kingdom.

Electronic payment solutions are on the rise

The credit card or bank transfer as a means of payment are increasingly getting competition from providers such as PayPal and other eWallets. The electronic payment solutions have grown out of eBay's internal offer PayPal. They combine fast payment conversion with a certain buyer protection, good conditions and not infrequently high limits. Since you can pay with PayPal and Co. internationally can transfer larger sums, and even from a mobile device, the eWallets are now suitable for everyday use.

Of course, not every Forex and CFD broker offers an exhaustive selection of all options, little popular, for example, PayPal, due to the sometimes high costs for traders. Therefore, also at Robomarkets PayPal is not among the listed payment solutions, but the equally common platforms Skrill and Neteller are.

Electronic payment methods allow just as fast value delivery as credit card payments, not infrequently for amounts as low as 10.000 euros or more. Good security measures are often accompanied by great user-friendliness. Traders should inform themselves in advance whether and what fees are incurred in individual cases for the eWallets, in order to determine the best possible payment method.

Order must be: Payments only via own account and never via third parties

Another important point regarding deposits with a broker is the obligation to make payments only through their own accounts. others, no matter how close the relationship, can neither make payments nor receive withdrawals from the trading account. Such requirements are intended to prevent the possibility of money laundering and are implemented not only within Europe, but also by international brokers. Exceptions are escrow accounts – if the broker offers them. In general, however, a deposit can only be made via one's own private account, the name of the account holder must be identical for the reference and trading account. Payments via business accounts are also not accepted.

Deposits and withdrawals are made through the same channel with most brokers

It is also important to know that, as a rule, a customer commits himself to future withdrawals by choosing the deposit method. And not only that: often the amount of a single withdrawal can not exceed the amount of the maximum previously made deposit. If you want to change the payment method later, this brings some effort and in any case a new verification with it. Most traders would welcome the flexibility to combine different payment channels, but this is rarely possible. Fortunately, traders who want to withdraw money at Robomarkets can use a different procedure for this than previously used for deposits. This clearly sets the provider apart from other brokers.

What accounts Robomarkets offers?

Robomarkets has been able to establish itself exceptionally well in the market during the six years of its existence. Transparency, which covers all areas of the broker, also characterizes the available account types. Traders have the choice between two STP accounts and an ECN account. As STP accounts, Robo.Cent and Robo.Per offered, both with a Robomarkets minimum deposit of 100 US dollars or euros. With the Robo. ECN account already says the name everything about the trading model, here you are also from 100 euros in it. There is also a prime account for very active or professional traders, here the minimum deposit is 5.000 US$ or Euro. The differences extend not only to the market model, but also the spreads and the underlying assets offered in each case. All costs and conditions are presented in a very transparent way on the Robomarkets website.

• Cent or Robo.Per STP accounts, minimum deposit 100 USD/Euro, no commission, spreads starting from 1.3 pips
• ECN account, minimum deposit 100 USD/Euro, spreads from 0.1 pips, commissions of 2 USD/lot
• Prime account, minimum deposit from 5.000 US$/Euro, interbank spreads from 0.0 pips, commissions of 1.5 USD/lot

All account types can be used with all available trading platforms at Robomarkets and each can be tested in a demo limited to 90 days. Since traders can maintain up to 50 trading and demo accounts in parallel with this Forex and CFD broker, the time restriction of the demo is practically of no consequence.

After opening the account: the first RoboMarkets deposit

Since the broker clearly communicates the conditions and costs, the decision for an account model is not difficult. Registration can be started without any effort by clicking on the appropriate button at the top of the website, the process is largely self-explanatory. As usual, verification is also required at Robomarkets, under submission or. Upload of a valid identification document and proof of residence. The next step immediately after successful activation of the trading account is its capitalization. Traders often only have the choice between credit card, bank transfer and one or two wallets. However, those who want to deposit money at Robomarkets can choose from sixteen different payment methods. However, not all of them are available to German traders – they can use, among others, Sofortuberweisung or GiroPay, as well as payment by credit card and bank transfer.

• 16 different payment methods
• Conventional payment methods and innovative options
• Often there is an immediate value date
• 5 eWallets
• Regional payment solutions

Among the electronic payment providers you can find Neteller and Skrill, but also lesser known offers such as FasaPay, WebMoney and ePayments. Almost all payment options except FasaPay can be used for transactions in Euros or US dollars. The broker provides its Austrian clients with the EPS/Netpay payment method, and clients in China can pay in Chinese yuan thanks to China UnionPay.

The Robomarkets website presents the payment options and the respective processing times very clearly, so users can see right away that payment by credit card, via Giropay, SOFORT or an eWallet allows for immediate crediting, while the value date for a bank transfer can take up to five days.

Robomarkets limits for deposits and withdrawals

• With most brokers minimum and maximum amounts are commonplace, Robomarkets is no exception and sets limits for deposits as well as for Robomarkets withdrawals. If you want to deposit money at Robomarkets, you can do it – apart from the first minimum deposit – often with the smallest amounts, starting from 10 euros or US dollars. Larger sums are condition only in case of bank transfers via Barclays Bank or BlueOrange, in this case traders have to pay with 450 resp. 500 Euro transfer significantly more. This also applies to withdrawals via these two credit institutions. There are maximum limits for some deposit methods, for example, a maximum of 5 USD can be deposited via GiroPay.000 Euro, with Visa or Mastercard maximum 10.000 euros or US dollars must be deposited. However, via WebMoney or Neteller can transfer up to 50.000 Euro or US Dollar can be transferred for a deposit.
• ECN account, minimum deposit 100 USD/Euro, spreads from 0.1 pips, commissions of 2 USD/lot
• Otherwise, withdrawals can be made at Robomarkets without minimum amounts or with the smallest limits starting from 1 euro. This makes clients more flexible, as traders have the possibility to withdraw from their live account at any time thanks to these minimal hurdles and do not have to accumulate larger amounts. This makes withdrawals at Robomarkets just as unbureaucratic and customer-friendly as deposits.

Unusual and accommodating: Robomarkets covers deposit fees

Robomarkets thus accommodates its traders with the variety of payment methods, but the broker does even more. Because Robomarkets takes care of all fees that may be incurred during deposits. While the deposit is still being processed, Robomarkets will reimburse any fees that may have been charged by the payment provider. The amount transferred by the trader arrives on the trading account in full and without any time delay, clients do not even notice that the broker intervenes "charitably" here. Nevertheless, the compensations paid by the broker can be tracked, namely in the payment history in the personal client interface. This extremely customer-friendly approach allows traders to choose their preferred payment method without having to worry about possible charges. Moreover, Robomarkets allows withdrawals via all payment options twice a month completely free of charge, and even three times a month for SEPA transfers. Those who wish to make further withdrawals must then pay 15 euros per transaction.

Remarkably flexible: different deposit and withdrawal methods can be combined

But that's not all – Robomarkets does even more for its customers, because at this broker traders are allowed to combine payment methods with each other. Unlike the majority of providers, where the deposit method later becomes mandatory for withdrawals, with the Cypriot STP/ECN broker users can already choose very different payment methods for deposits and withdrawals when setting up the live account, such as a deposit by credit card in combination with a later withdrawal via an eWallet or by means of a SEPA transfer. The combinations are left to the traders according to their personal preferences.

There are no bonuses at Robomarkets

Bonus payments for setting up a trading account are forbidden to Forex and CFD brokers as an advertising tool for attracting new customers already since the end of 2016. Robomarkets also pays traders within the EU accordingly no bonuses, but the broker does not have to do that at all. The good conditions, the versatile payment options and the fact that the fees for payments are paid by the broker more than compensate for a one-time bonus. In addition, there is transparent information, a good educational offer and the possibility of keeping up to 50 accounts in parallel, in order to take full advantage of the broker's offer.

Conclusion: Robomarkets is one of the most customer-friendly brokers not only in terms of payment methods

The STP/ECN broker Robomarkets can rightfully be called one of the most successful and probably also most reputable providers on the market. Within six years, the company has been able to achieve pan-European penetration, probably thanks in no small part to its extensive portfolio, transparent presentation of services and fees, and customer-oriented approach to service. This starts with the low minimum deposit of only 100 Euros or US Dollars and continues with the very customer-friendly payment methods. More than a dozen payment methods can be used at Robomarkets. In doing so, the broker reimburses any costs incurred during the deposit process and also allows free withdrawals at least twice a month. Very unusual is that customers can choose different ways for deposits and withdrawals, in combinations according to their own preferences. One wishes for this kindness more often, the customer friendliness currently makes the Forex and CFD broker one of the most popular providers on the market.

The offer is supplemented by comprehensive training materials, tools for trading, including analyses, economic calendars, but also a strategy construction kit for the proprietary R-Trader, and Expert Advisors. So, a broker that does just about everything right with its appearance. Interested users who want to form their own opinion first, can test all account types at this broker with the help of a free demo for 90 days before even setting up a trading account.