RoboForex Group, an automated forex broker regulated in Cyprus and Belize, announced it is cancelling the overnight commissions for its Risk Allocation Management (RAMM) accounts. The broker will not charge swaps for all trading instruments and will not impose additional commissions and extra charges to spread. The change is effective from May 24, 2016.
In its announcement the broker notes the improvement would be most beneficial for the clients whose strategies are very sensitive to swaps and those using the so-called Islamic accounts.
The RAMM model is a relatively recently developed investment system, which provides better protection from losses, unlike the more frequently used percentage allocation money management (PAMM) system for trading with pooled money where the risk of losing investments is shared equally among the investors and the trader.
The RAMM system allows the investor to set a level of acceptable weekly losses he or she is comfortable with and retain full control over their investment. At the same time the investors’ restrictions do not meddle with the trader’s strategy and performance.
The RAMM accounts were introduced by RoboForex Group in February this year. In April the RAMM account and the CopyFX option were added by the Cyprus unit of the broker. Earlier this month the RAMM offering was expanded with 15 forex pairs and canceled the stop&limit levels.
RoboForex is an automated forex broker regulated in Cyprus and Belize. It offers trade in currencies and CFDs on stocks, indices and spot oil. The leverage is up to 1:1000 and no minimum deposit is required. The trading platforms that can be used for trading via RoboForex are MetaTrader4 (MT4), MetaTrader5 (MT5) and cTrader.
The group consists of the holding company RoboForex Financial Group and its units RoboForex, regulated by Cyprus’ Securities and Exchange Commission (CySEC), RoboTrade Ltd. regulated by the International Financial Services Commission (IFSC) of Belize and RoboForex LP, based in New Zealand.