RoboMarkets, a forex broker, announced this Tuesday that starting from the 14th of May 2020 it will be reducing the minimum lot and order volume step for trading indices.
Under these new changes, clients of RoboMarkets will be able to trade indices with lower margin requirements. According to the statement published by the broker today, it will also allow orders in the CopyFX platform to be copied with higher accuracy.
“Reduction of the minimum lot and order volume step is another step in the Company’s extensive work aimed to provide its clients with the most competitive conditions for trading Indices in the industry,” the online FX trading provider said today.
In particular, RoboMarkets has reduced the minimum order volume (lots) to 0.01 and the minimum order volume step (lots) down to the same value. However, the broker advises its clients that they may need to adjust their settings and review their strategies following the changes.
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RoboMarkets continues to expand and update
As Finance Magnates reported, in recent months RoboMarkets has been actively expanding its trade offering. Namely, the broker launched commission-free trading on US stocks, as well as bolstering its European stock offering.
In particular, the company launched more than 500 contracts for differences (CFDs) on European stocks to its R Trader platform. The CFDs included stocks from 11 European countries that hadn’t been available on the platform previously. In particular, these countries were Belgium, Denmark, Ireland, Spain, Italy, the Netherlands, Norway, Portugal, Finland, France, and Sweden.
For the commission-free offering, back in March of this year, the company launched more than 3,000 stocks of the largest American companies, such as Amazon, Facebook, Netflix, Google, and more.
As Finance Magnates highlighted at the time, RoboMarkets was the latest player to the commission-free space, which was initially dominated by stock trading app Robinhood.
However, as brokers try to reach millennials, more and more larger players have been entering the space, such as E*TRADE, Interactive Brokers, Charles Schwab, and TD Ameritrade.