RoboForex is an online broker that provides trading assets for live accounts such as Pro-Cent, Pro-Standard, and RAMM. In this review, we will discuss not only the regulation, bonuses, and deposits offered by the broker, but also the extensive variety of trading platforms offered by the broker, such as MT4 and MT5.
Information Regarding the RoboForex Company
RoboForex was established in 2009, and its operations are overseen by the International Financial Services Commission (IFSC number 000138/210). The company’s headquarters are located in Belize. The broker provides clients with access to over 12,000 trading products across 8 asset classes, in addition to 4 trading platforms and 2 investment platforms.
The fact that 3 million live accounts have been opened since RoboForex‘s beginning has contributed to the company’s positive reputation over the years. Additionally, the brand has been in the headlines because it is an official partner of BMW M Motorsport and because it has signed a sponsorship contract with a Muay Thai fighter who is also the world kickboxing champion named Andrei Kulebin.
Roboforex is able to cater to the requirements of its clientele by providing individualized solutions such as copytrading and cryptocurrency deposits. The company has a global reach.
Buying and Selling Platforms
MetaTrader 4 MT4 contains all of the necessary elements that a beginner or advanced trader would require, including 50 indicators for technical analysis, basic graphical tools, and three different forms of order execution. Users of StrategyQuant have the option to not only program their very own trading robots, but also to take use of the one-click trading capabilities.
MetaTrader 5
The cutting-edge MT5 platform, which offers both speed and dependability for sophisticated trading, is available to professional traders and may be utilized to their benefit. The adaptable system includes functions for netting and hedging, as well as Market Depth, as well as four different types of order execution, six different types of pending orders, and dozens of technical indicators and graphical aids.
cTrader
The cTrader terminal is a good choice for clients who have more experience and are searching for an alternative to the MetaTrader platform. Users have access to a wide variety of charts and unique forms of orders, including Level II pricing and 54 technical indicators across 14 periods. cTrader Automate additionally gives users the ability to program their own trading robots and indicators.
R StocksTrader
People who want to participate in worldwide markets can take advantage of R StocksTrader’s user-friendly unique platform, which features a traditional look and provides convenient trading options.
Users get access to an automatic strategy tester in addition to 13 technical indicators, 9 graphical tools, and Level II market depth. Additionally, netting and hedging account models are provided, and R StocksTrader is accessible as both a web-based platform and a desktop application.
In addition to being able to trade CFDs, the site also supports actual stock trading. In this way, customers might acquire full ownership of the assets. In addition to this, it provides live access to Nasdaq listings, so investors can observe as their orders are carried out in real time.
Traders have access to a greater degree of freedom than is available anywhere else because to the fact that they can engage in share trading not only through conventional means but also through CFD derivatives.
CopyFX
Roboforex clients can take advantage of copy trading thanks to the CopyFX platform.
Traders are able to locate profitable traders by analyzing their trading histories, evaluating performance, and setting up alerts or signals. When copied traders open or end transactions, followers are given the freedom to choose whether or not to duplicate the trade instantly.
The tool has shown to be quite popular, with the CopyFX Profibot system being the one that has received the most attention.
The breadth of copy forex traders that may be followed is essential, just as it is with other prominent copy trading options such as eToro. Those trying to replicate traders will have fewer options available to them if they do not have access to a major trading bank. To our great fortune, CopyFX has a massive community of active traders, and new members continue to sign up every day.
Assets owned by RoboForex
Customers have the opportunity to trade on more than 40 currency pairings, over 12,000 stocks from across the world, more than 10 indexes, including the Dow Jones (US30) and NASDAQ, 100 commodities, such as oil, and exchange-traded funds (ETFs).
The broker also provides access to 26 different cryptocurrencies in addition to crypto-indices, a specialized financial instrument that enables simultaneous trading of multiple cryptocurrencies.
This assessment, on the whole, was rather impressed with the breadth of goods offered by RoboForex in 2022. Please take note that you can find comprehensive contract specifications on the website of the broker.
Prices, Commissions, and Spreads
Pricing is dependent on the account that is selected, but in comparison to other brokers, such as FBS and FXTM, spreads are reasonably competitive.
The spreads on the EURUSD, which average around 1.4 pips, the US indices, which average around 1.75 pips, and the XAUUSD, which averages around 22, already include the fees for the Pro-Cent and Pro-Standard accounts (Gold).
The Prime and ECN accounts will provide you with more competitive spreads, and in some asset classes, you may even be able to trade with zero-pip spreads.
Leverage
RoboForex’s Pro-Cent and Pro-Standard accounts both come with a maximum leverage of 1:2000, making it one of the highest available in the industry. The ECN account provides leverage of up to 1:500, but the Prime and R StocksTrader accounts provide leverage of only 1:300.
On the website, there is a margin calculator that can be very helpful.
Mobile Apps
RoboForex provides smartphone apps for all of its trading terminals, including MT4, MT5, cTrader, and R StocksTrader. These apps can be downloaded by mobile traders.
• Users of MetaTrader MT4 and MT5 have access to the same kind of technical capabilities that are available in desktop software. These features include fully customizable charting tools, complete trading histories, and trading robots. On mobile devices, you’ll be able to access the same members-only client login section.
• cTrader – This trading platform has a number of helpful features, such as pinch-to-zoom, fling scrolling, and double-tap action to recentre charts, in addition to in-app notification capabilities.
• R StocksTrader – R StocksTrader (previously known as R Trader) is likewise fully featured and provides an all-in-one solution, including bonus management and secure in-app account deposits. The application provides live charts and quotations, in addition to 14 different trading indicators and extra mobile-friendly features.
Users of the iPhone and Android (APK) can choose from a total of 22 language options across all devices. The Mobile Terminal 4 (MT4) and Mobile Terminal 5 (MT5) applications have received the majority of positive evaluations from users around the internet.
Various Methods of Payment
Deposits
At RoboForex, there is no shortage of financing methods; the company supports dozens of deposit methods in 9 different currencies, including the United States Dollar (USD), the Euro (EUR), the British Pound (GBP), and the South African Rand (ZAR). There are options for both international and local bank depositors, in addition to card payments and electronic wallets. There is no support for PayPal here.
The majority of deposit methods have a minimum deposit requirement of 10 USD or EUR for ordinary accounts, however all deposit methods are free and quick.
Customers who are not located in the EU have the option to make deposits using cryptocurrencies. Traders are able to make deposits, conduct transactions, and withdraw funds using bitcoin.
Withdrawals
There are thirteen different ways to withdraw your funds, although the exact number may change depending on where you live. In 2022, the withdrawal times for the vast majority of ways are just one day, which is lauded in the reviews provided by customers.
Commissions for withdrawals might be anywhere from 0.5% to 2.8% of the total amount withdrawn. The organization does have a Free Funds Withdrawal program, which enables users to make up to two commission-free withdrawals of funds per calendar month. On the website, you can find additional information as well as any applicable restrictions.
Customers who are not located in the EU are permitted to make withdrawals of cryptocurrency.
Free Trial Account
RoboForex provides users with the option to select from three different demo accounts, all of which are compatible with all available platforms: Demo Pro, Demo, and Demo R StocksTrader.
The most popular option is the Demo Pro account, which imitates the trading circumstances of the normal account packages by providing a maximum leverage of 1:2000 and floating spreads starting at 1.3 pips.
Users are able to put their trading methods to the test without having to pay or risk any actual money.
You can create a demo account directly from the homepage of the broker. The use of the practice account is completely free, however it will be deleted after a period of ninety days.
After making a minimum deposit of ten dollars using a bank card, new users of Bonuses Pro-Cent and Bonuses Pro-Standard accounts are eligible to earn a welcome bonus of thirty dollars.
Users of the Cent and Standard accounts are eligible to receive the 60% Profit Share Bonus, in addition to the Classic Bonus, which offers a match bonus of up to 120% on their initial deposits.
The broker also provides additional bonuses, such as a free virtual private server (VPS), cashback rebates depending on trading volume, daily competition chances with ContestFX, and up to a 10% bonus credit that can be applied to account balances.
On the website of the broker, you may see the whole terms and conditions governing the withdrawal of bonuses.
RoboForex does not provide any no deposit bonus (NDB) deals at this time in 2022; nevertheless, the broker has in the past provided weekly demo contests; hence, traders should watch the website for impending promotions.
Regulation
RoboForex Ltd. is under to oversight by the International Financial Services Commission (IFSC) of Belize, which issues the company’s license (number 000138/210).
RoboForex Ltd is a participant in the Compensation Fund, which gives protection of up to €20,000 per claim, as a result of the fact that it is a member of the Financial Commission in the “A” category.
Additionally, the broker is covered by Civil Liability insurance and offers protection against negative balances. In general, RoboForex is a reliable and risk-free online broker to work with.
Added Advantages and Functions
The educational suite provided by RoboForex includes many helpful resources that can be utilized by both casual traders and professional investors. Some of these resources include how-to guides, on-demand videos, forex analysis, as well as a community forum, blog, and economic calendar that can be of assistance.
The RoboForex Analytics center is the most prominent feature; it provides a free subscription to analytical data and trading instruments, all of which are accessible from inside a single window. Users are able to receive access to trading signals, videos, calendars, and other tools; the platform is available in 13 different languages and has an interactive data layout.
Accounts
RoboForex provides a total of five distinct types of live trading accounts, which are referred to as Prime, ECN, R StocksTrader, Pro-Cent, and Pro-Standard. All accounts have a minimum deposit requirement of 10 USD or EUR, with the exception of the R StocksTrader account, which has a requirement of 100 USD. When compared to other brokers, such as HotForex, Tickmill, and Exness, the minimum deposits required by them are very affordable.
Professional traders who are searching for spreads starting from zero pips will find that the ECN and Prime accounts are appropriate for them, while the R StocksTrader account enables them to trade multiple assets at once in the stock market. Both the Pro-Cent and the Pro-Standard accounts are tailored to the needs of novices and casual investors.
According to the findings of this analysis, the primary distinctions between the accounts are the minimum margin requirements, maximum leverage levels, margin call/stop-out levels, and levels of bonus eligibility. When compared to the R StocksTrader account, the Pro account has access to all of the offered perks, whereas the R StocksTrader account has no access to any bonuses.
Islamic swap-free accounts are also offered, in addition to investment solutions utilizing the CopyFX and RAMM platforms, which respectively facilitate investments in short-term and long-term trading methods.
From the homepage of RoboForex, you have the ability to start trading in live markets after opening a trading account with real money.
Benefits
The following are some of the advantages of opening an account with RoboForex: • Bonuses are offered • A decent range of assets
• 4 live trading platforms
• Trading without commissions
• Stock trading through either traditional stock trading or CFD derivative trading
• Copytrade investment platforms such as CopyFX Drawbacks include the following:
The one significant disadvantage of registering with RoboForex is that customers from the United States are not accepted.
Business & Finance:
The foreign exchange market is open for business around the clock, five days a week; however, different time zones have active trading sessions at different times. The times listed below are all in UTC+2 format (Eastern European Time, EET).
• Japan and Singapore: 02:00 to 10:00; • Hong Kong: 03:00 to 11:00; • Frankfurt and London: 08:00 to 16:00; • New York and Chicago: 15:00 to 23:00; • New Zealand and Sydney: 22:00 to 06:00
RoboForex also provides traders with helpful updates to the trading calendar in preparation for national holidays.
Assistance to Customers
RoboForex provides support for multiple languages in over a dozen of them, including English, Malaysian, Indonesian, Arabic, and Spanish. Help is available via the following methods around the clock, seven days a week: • Email – info@roboforex.com
• You can reach us at this number: +65 3158 8389
• Online callback form – page dedicated to contacts
• Logos for live chat, Skype, Whatsapp, Telegram, and Viber can be found in the lower right-hand corner of the website.
The customer support team is able to assist you with the majority of your questions, including how to cancel an account, user verification, explanation on ECN commissions per lot, and how to reset your investor password.
The corporate headquarters are located at 2118 Guava Street, Belama Phase 1, Belize City, Belize.
Security
RoboForex implements SSL-encrypted security mechanisms across all of its platforms, in addition to dual-factor authentication procedures. Withdrawals and transfers can both have an additional layer of security provided by an SMS confirmation code that is associated with each transaction. In addition, the broker has anti-fraud mechanisms in place for their bonus programs, which protect against the repeated transfer of funds many times.
RoboForex Verdict
RoboForex is a well-established online broker that provides clients with access to a diverse selection of assets using trustworthy trading platforms such as MT4 and R StocksTrader.
In addition to being regulated, the broker offers protection against negative balances, so providing traders with an additional degree of confidence and safety.
RoboForex is a good broker overall, and it is suitable for traders of all levels; however, the zero-spread ECN accounts and RAMM platforms that it offers will be especially appealing to expert traders.
CopyFX provides a copytrading platform that is on par with that of eToro and other leaders in the field.
The ability for customers outside of the EU to make deposits and withdrawals in cryptocurrencies demonstrates a clear commitment on innovation and the delivery of flexible trading choices for customers.
Countries That Are Allowed In
RoboForex welcomes traders from most countries, including Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, and Luxembourg.
RoboForex is not available for use by traders based in the United States, Canada, Japan, Australia, or the Russian Federation.
Compare RoboForex
Evaluate RoboForex in comparison to other brokers in the same industry that welcome clients from your country. The following brokers are the most comparable to RoboForex of those that are currently available:
1. FP Markets – FP Markets is a broker that deals in multiple assets and provides a selection of trading platforms.
2. Pepperstone – Pepperstone welcomes both retail and professional traders for its contract for difference (CFD) trading. On the MT4, MT5, and cTrader platforms, customers can trade foreign exchange (FX), indices, commodities, and equities.
3. FXCC – FXCC is a reliable trading broker that is regulated by the Cyprus Securities and Exchange Commission. The brokerage firm provides ECN transaction executions, leverage of up to 1:500, and commissions of $0. In addition to these features,
4. FBS – FBS is a leading online broker that provides MT4 and MT5 trading platforms for trading in a variety of liquid markets. There are several account tiers and loyalty perks available to choose from.
FAQ
Is it true that RoboForex is a scam?
RoboForex Ltd is a legitimate business that has its headquarters in Belize and is authorized and supervised by the International Financial Services Commission (Registration Number 000138/210).
As a consequence of this, there is a low probability that it is a hoax. Having said that, the broker receives a variety of ratings and feedback on websites such as Trustpilot.
How can I sign up for an account with RoboForex?
If you go to the website and click the button that says “Open an Account” on the right-hand side of the page, you will be able to create a real account. After that, in order to register your area login credentials, you will need to fill out the details of your new membership. After that, the process will reach its conclusion with the verification step.
Where can I find the instructions for deleting my RoboForex account?
Inside of the members’ section, you’ll find a button that allows you to deactivate your account. In the Account section of the menu, select the account whose status you want to modify to “no,” and then click “Save.”
Does RoboForex allow US clients?
No, traders from the United States are unable to open live trading accounts with our company. RoboForex does not accept registrations from customers located in the United States, Canada, Japan, or Australia at this time.
Is it true that RoboForex acts as a market maker?
RoboForex acts as the market maker for all of the Cent accounts it manages. The STP model is the one that the broker utilizes for all Standard and ECN accounts.
