Cyprus-based automated forex broker RoboForex said on Monday it has expanded its offering for RAMM accounts with 15 new curency pairs. The broker has also stopped offering stop&limit levels for this type of trading accounts, so that traders can place pending orders as close to the current market prices as their trading strategy requires.
Meanwhile, starting 23 May, 2016, RoboForex’s clients who use RAMM accounts will be no longer able to trade in the USD/ZAR pair. However, they will have from the following new currency pairs to choose from:
The RAMM, or Risk Allocation Management Model, platform allows users to trade as both a Trader and an Investor. RAMM accounts allow trading in both manual and automatic mode. This type of trading allows users to have a more complete control over the acceptable level of risk by setting a limitation levels on acceptable losses.
The Cyprus-based arm of RoboForex launched RAMM and CopyFX (for social trading) trading platforms to its offering in the beginning of April, 2016, following an amendment to its Cypriot license which allows it to act as a Portfolio Manager. Meanwhile, RoboTrade, also part of RoboForex group, started offering in February this year RAMM accounts via the group’s proprietary platform ramm.roboforex.com.
RoboForex provides trading in currencies, metals and contracts for difference (CFDs). The brokerage group is headquartered in Cyprus’ Limassol and has representative offices globally. It consists of the holding company RoboForex Financial Group, and its units Cyprus-regulated RoboForex, Belize-regulated RoboTrade Ltd. and New Zealand-based RoboForex LP.