RoboForex Broker

A trustworthy broker can have a world of benefits for your trading sessions. It can provide you with a sturdy trading platform, as well as useful technical and fundamental indicators, charts, and various other tools that enrich the trading process. Conversely, a scam broker can easily undermine your safety and profitability in the market.

With today’s review of RoboForex broker, we’ll try to determine whether you should trust this firm or stay away from them. Here, you’ll find everything from the financial license to trading platforms, spreads, fees, and payment methods, so, stick around to decide on your own.

First look at RoboForex

Established in 2017, RoboForex is a Forex trading brokerage. However, it also offers stocks, indices.

As a Belize-based broker, RoboForex owns a license from the International Financial Services Commission (IFSC) of Belize under the number 000138/437. And if you want to know what this means exactly, make sure to read this review in full. For now, though, let’s just say that both of these licenses make RoboForex the reliable broker that it is.

After the talk about the licensing, we’ll move on to RoboForex’s website. Once again, the initial observation of the overall interface is pretty positive; The design is spot-on, and it’s not cluttered with unnecessary visual effects and whatnot, which ultimately improves the user experience.

The whole thing is designed to help traders get as much information from the website as possible. And RoboForex achieves that end effortlessly;

When it comes to registering at RoboForex, you can set up 5 different live accounts: Prime, ECN, R Trader, Pro-Cent, and Pro-Standard. But that’s not all; RoboForex goes even further by featuring Islamic and demo accounts on its website. These packages make it incredibly easy for just about anyone to start trading regardless of their prior experience in trading.

As for trading platforms, RoboForex couldn’t get more diverse than what it currently is: during this RoboForex review, we found out that you can choose to trade using MetaTrader 4, MetaTrader 5 or the proprietary R Trader. Why this is beneficial for you, we’ll explain further down below.

Finally, we’ll discover various trading terms and conditions that make all of the above-mentioned platforms attractive in the first place. As noted above, RoboForex offers instruments from various markets, including Forex, stocks.

As for which features come with these assets, this RoboForex broker review will reveal everything. The maximum leverage, for instance, goes as high as 1:2000, which is a staggering promotion. As for spreads, this commission charge goes as low as 0 pips, which is even more beneficial for anyone in this market.

When it comes to making deposits and withdrawals on your account, there are dozens of methods to choose from, whether it’s banking methods, credit cards, or e-wallets.

The Safety and Security of RoboForex

Coming from Belize, the IFSC license isn’t as powerful as its Cyprus-based counterpart, however, it does make sure there’s no RoboForex scam going on. Besides, the IFSC does control RoboForex’s international reach, and quite successfully so.

What you need to keep in mind is that European countries have some of the strictest financial regulations in the world, therefore, a broker must abide by all those rules if it wants to serve its citizens.

RoboForex does not offer services to clients from Belgium, Canada, the USA, and Japan.

RoboForex Fees and Spreads

The commissions are among the lowest in Forex markets when it comes to RoboForex. All deposits are commission-free and fast. There is a commission charged for withdrawing money but it is just 0.5% which is a relatively low number.

The trading commission for 0 spread accounts is 10 / mio. As for the spreads, there are both 0 pips and 1.2 pips spreads depending on the trading accounts selected. The good news is, the minimum deposit does not differ for different trading accounts making it super simple to just select a trading account well suited to the trader’s needs.

Low spreads are offered for stock CFDs trading from 0.03 on Apple stocks. Indices require 4 USD commission per million dollar traded which is very low. The average spread for indices is 0.5 EUR.

There are no inactivity fees charged for dormant accounts which is great news.

RoboForex Trading Accounts, Deposits, and Withdrawals

Since Affiliate accounts do not mean much for retail currency traders, we will discuss 3 groups of live accounts: Standard, ECN, and Cent. These account packages are divided into 2 categories according to the type of spread: Fixed or Pro (Floating Spread). The account currencies for real trading are USD, RUB, EUR, and CNY, and not a currency – Gold. The maximum leverage available is 1:2000, which is an enormous feature and quite risky at that, however, RoboForex does offer negative balance protection, which saves you from grave losses.

As our RoboForex.com review learned, the total number of tradable assets is 36 currency pairs, Gold and Silver. We’ll discuss this further down below, but it’s worth noting that you can easily diversify your portfolio with this asset pool.

Then there’s a whole new trading platform, which is the ECN (Electronic Communication Network). It forms a direct connection between the traders and liquidity providers without the broker meddling. What this means is that you can directly request to buy assets in the tightest spreads and latency issues. However, you should keep in mind that this platform is far more sophisticated than any other we found during our RoboForex review, and you’ll be asked to pay higher commissions as well.

Alongside the above-mentioned live accounts, RoboForex also offers its Muslim traders a swap-free account, which entirely removes interest charges from overnight trades. Otherwise, the Islamic account is identical to its live counterparts.

On top of all that, you can also create a demo account with flexible conditions and the ability to trade in a virtual market. If you’re a beginner, this is the perfect opportunity for you.

Deposits and Withdrawals

RoboForex is among the few brokers who clearly state every detail about every important aspect of their trading services. All funding methods and fees are given transparently on the broker’s website.

All sorts of payment methods are available including wire transfers, bank cards, online wallets, and even vouchers. This makes it super easy to deposit and withdraw funds from your trading account.

RoboForex Trading Assets and Features

More than 12 000 instruments are available to traders on diverse RoboForex platforms. Among these instruments stock CFDs are in abundance, making it impossible not to find your favorite stock. CFDs offer the ability to speculate on price movements up and down. RoboForex offers leverage of 1:20 for stock CFDs and spreads start from 0.03. With 1:100 leverage, traders can enjoy futures CFDs trading on MT4 and MT5 platforms. ETFs come with 1:20 leverage and spreads from 0.0 pips, and the minimum deposit is 100 USD. The full list of RoboForex trading assets includes stock CFDs, ETFs, futures, commodities, indices, Forex pairs. A very well diverse and rich selection of asset classes.

RoboForex MT4, MT5 and R Trader

Another impressive feature of this broker is its trading platforms. RoboForex offers 4 platforms for different account types. The accessible platforms include RoboForex MT4, MT5 and R Trader. There are mobile versions for iPhone and Android available for download.

Choosing any of these platforms will help you take your trading game to the next level. All of them, whether it’s MT4, MT5 or R Trader, offer you dozens of technical indicators, charting mechanisms, and even automatic trading robots. In short, if you’re up for a successful trading endeavor, these platforms and RoboForex’s trading features will help you achieve that.

The Roboforex.com Website Quick Glance

Moving on, let’s take a closer look at how RoboForex distributes valuable information to the users, i.e. how its website is laid out.

Upon the initial overview, we found the website pretty pleasing. The color scheme, section layouts, and font selection are all on-point, making sure that the interface doesn’t distract the visitors from obtaining any piece of information about the broker.

Speaking of information, the website is divided into 5 individual sections: Trading, For Clients, Promotions, For Partners, and About Us. Each of those sections contains information about trading instruments, RoboForex platforms, account types, and regulatory measures. And what’s great about them is that with just a couple of clicks, you can find any piece of information there.

Are RoboForex promotions legit?

Finally, let’s take a look at which trading promotions you can get with RoboForex. First off, our review of RoboForex broker revealed that there are hundreds of financial instruments you can choose from. These range in the following categories:

• Forex pairs
• Stocks
• Indices
• ETFs
• Commodities
• Metals
• Energies

Alongside these instruments, you can take advantage of some of the most lucrative trading features. For example, you can crank up the leverage up to 1:2000, which is just bonkers to think about. Imagine, you can deposit just $100 in your account and open a trade for $200,000. And if you make a profit, it’ll be x2,000 larger than what you’d get with your own money.

And that’s not everything. If you take a look at RoboForex spreads, the broker offers a couple of zero-spread accounts, which let you concentrate on fixed commissions, which are significantly lower than what other brokers impose on their clients.

At the moment of this review, there are 3 active promotions available for all registered clients. Namely, they are a Welcome Bonus of 30 USD, a Tradable Bonus of Up to 50%, and a Deposit Bonus of up to 115%. This further enhances the appeal of RoboForex’s trading platform for pretty much anyone, although, we should point out that a Forex bonus should never be the deciding factor of your broker choice.

Regarding customer support, the broker offers multiple communication channels for better accessibility. RoboForex client support can be reached via live chat, email, phone, or fax. Our RoboForex review informs that the support is available in 15 languages.

When it comes to payments, there is no minimum deposit requirement. The account can be funded using credit/debit cards (except for Maestro), wire transfers, and e-wallets like Skrill and Neteller. The withdrawal is done with the same transfer methods. But there’s more to RoboForex’s payment methods than we can physically mention. The Deposit & Withdrawals section contains dozens of different payment methods, all of which come with advantageous requirements and execution times.

RoboForex Customer Support Review

Customer support along with other conditions is excellent at RoboForex. Clients can access live chat and connect with the broker within seconds. The extensive FAQs section will offer all the needed info and the support team will answer any questions. Other forms are also offered including online forms, email support, and hotline. All support forms together with the website are multilingual and offer assistance to international traders 24/7. in the rare case when trader lives closer to the broker’s office they can also visit the RoboForex office.

RoboForex Education Overview

Educational mainly emphasizes on FAQs section and offers little information about actual trading, but diverse resources and articles on how to open a trading account and operate it.

Where RoboFOrex shines is a multitude of market research tools. These tools will make trader’s life easier by providing economic calendars, calculators, market news and analysis, and other unique possibilities. Copy trading services are also active and investors can copy successful traders’ performance.

Should you consider RoboForex? Our verdict

So, should you trade with RoboForex? Is it worth your time, effort, and hard-earned money?

As our in-depth RoboForex review has demonstrated, this broker cares a lot about the safety of its clients. It features licenses from two separate regulators and abides by strict financial rules imposed by the European Union.

The broker’s website and informative layout are also on-point. Once you fire up the website, it’s only a couple of clicks to get to the information you’re looking for.

And when it comes to trading terms and conditions, RoboForex does make sure that you’re having the most lucrative trading session in the market, whether it’s because of its leverage or spread offers.

All in all, trading with RoboForex is a worthwhile endeavor and we cannot recommend it enough!