RoboForex is an online broker that provides trading resources in their Pro-Standard, Pro-Cent, and RAMM Live accounts. In addition, the online broker offers an impressive selection of platforms, including MT4 and MT5, which we explore in this RoboForex review, including regulations, bonuses and deposits.
Founded in 2009, RoboForex is headquartered in Belize and is regulated by the International Financial Services Commission (IFSC). The broker provides over 12,000 trading instruments in 8 asset classes and 2 investment platforms and 4 trading platforms.
RoboForex has gained a good reputation with over 3 million live account openings since its inception. The company also made headlines as an official partner of BMW M Motorsport and signed a sponsorship deal with Muay Thai fighter and world kickboxing champion Andrei Kulebin.
MetaTrader 4 has all the necessary features that a beginner or advanced trader would need, 50 indicators for technical analysis, basic graphical tools and three order execution types. In addition, users can program their own trading robots with StrategyQuant and take advantage of one-click trading capabilities.
The platform is available as a convenient web trader accessible directly from a downloadable desktop client or browser.
Professional users can take advantage of the sophisticated MT5 platform, which provides speed and reliability for advanced trading. The flexible system includes net and hedging capabilities, 6 pending orders, market depth, 4 types of order execution, and dozens of technical indicators and graphical tools.
Again, users can enjoy downloadable PC applications or web browser versions of the platform.
For experienced traders looking for an alternative to MetaTrader, a cTrader terminal is an intelligent option. Users can access rare orders, Level II pricing and 54 technical indicators in 14 timeframes and 9 types of charts. You can also create trading robots and indexes using cTrader Automate.
The platform can be downloaded or accessed directly from the browser. The web trading version is ideal for MacOS PC users and Trader
An easy-to-use proprietary platform, R Trader offers a classic design and convenient trading for those who wish to invest in the global market. Users can access 13 technical indicators, level II market depth, 9 graphical tools, and an automated strategy tester. And Trader is both a web platform as well as a desktop application.
Clients can trade over 100 products, including 40+ currency pairs, over 12,000 global stocks, over 10 indices, including the Dow Jones (US30) and NASDAQ, oil and ETF. The broker also offers 26 cryptocurrencies, crypto indices and unique products. In addition, it allows traders to trade multiple cryptocurrencies simultaneously.
The price depends on the account you select but the spreads are fairly competitive vs. brokers like FBS and FXTM. Fee spreads are included for Pro-Cent and Pro-Standard accounts, with an average of about 1.4 pip for EURUSD, 1.75 for US Indices and about 22 for XAUUSD (Gold).
You’ll see tighter spreads with Prime and ECN accounts, with zero pip spreads available in some resource classes.
The maximum leverage offered on RoboForex with Pro-Cent and Pro-Standard accounts is 1: 2000. Leverage up to 1: 500 is available on ECN accounts, whereas 1: 300 leverage is offered with Prime and R Trader accounts.
A useful margin calculator is offered on the website.
For mobile users, RoboForex provides smartphone apps for all their trading terminals (MT4, MT5, cTrader, and R Trader):
All platforms are available in 22 languages for iPhone and Android (APK) traders. Overall, traders will find the most positive online reviews for the MT4 and MT5 mobile apps.
RoboForex has no shortage of financing methods, with dozens of deposit methods in 9 different currencies including USD, EUR, GBP, and ZAR. International and local bank depositors are available and card payments and e-wallets. PayPal is not accepted. All deposit methods are free and fast and for most procedures a minimum deposit of 10 USD / EUR is required with a standard account.
There are 13 withdrawal procedures available, although this may vary depending on your jurisdiction. Withdrawal time for most procedures is only 1 day, which is appreciated in 2021 customer reviews. The commission for withdrawal varies from 0.5% to 2.8%. In addition, the group offers a free fundraising program that allows you to withdraw funds twice a month without any commission. More details and limitations can be found on the website.
RoboForex offers a select of three demo accounts, suitable for all platforms: Demo Pro, Demo and Demo R Trader.
The Demo account is the most popular choice because it mimics the trading conditions of a standard account package with a maximum leverage of 1: 2000 and a floating spread from 1.3 pips. As a result, users can test trading strategies without actually spending money or risk.
You can open a free demo account from the broker’s homepage. Practice account is free to use and expires after 90 days.
Pro-Cent and Pro-Standard new account users will receive a welcome bonus of 30 USD after depositing a minimum of 10 USD through a bank card. In addition, cents and Standard users can benefit up to 120% on deposits and 60% profit share bonus by claiming the classic bonus.
The broker also offers bonus credits up to 10% on account balance, cashback rebate based on trading volume, daily competition with ContestFX and other promotions, including a free VPS server. The full bonus withdrawal terms can be found on the broker’s website.
RoboForex does not currently offer any No Deposit Bonus (NDB) deals in 2021 but has previously offered weekly free demo contests, so traders should check out the website for upcoming promotions.
RoboForex Ltd is regulated by the (IFSC) International Financial Services Commission of Belize under license number is 000138/107. As a member of the “A” section of the Financial Commission, RoboForex Ltd participates in the Compensation Fund, which saves up to € 20,000 per case. In addition, the broker holds citizen liability insurance and provides negative balance protection. Overall, RoboForex is a legitimate and secure online broker.
RoboForex’s educational suite has many useful resources for both casual traders and professional investors, including how-to guides, on-demand videos, forex analysis, and a helpful community forum, blog and economic calendar.
The most notable feature is the RoboForex Analytics Center, a free subscription to analytical data and trading instruments from within a window. Available in 13 plus languages, and offering an interactive data layout, users can gain access to signals, calendars, videos, and tools for traders.
RoboForex offers 5 live account types: Prime, ECN, RTrader, Pro-Sent and Pro-Standard. And the minimum deposit for all accounts except Trader Account is 10 USD / EUR, which requires a deposit of 100 USD. These are refreshingly low minimal deposits compared to HotForex, TickMill and Exxon.
ECN and Prime accounts are ideal for professional traders searching for spreads from Zero Pip, where R Trader accounts support multi-asset stock trading. Pro-Cents and Pro-Standard accounts are designed for new and casual traders.
This review shows that the main differences between the accounts are minimum margin requirements, leverage limits, margin call / stop-out levels and bonus access. In addition, all bonuses are available with the Pro account, although no bonuses are available with the Trader account anymore.
Islamic swap-free accounts and investment solutions using the CopyFX and RAMM platforms are also available, supporting investments in both short-term and long-term trading strategies, respectively.
Traders can open a real-money trading account from the RoboForex homepage and start trading in the Live Market.
Reasons to open a RoboForex account include:
The only major drawback of registering with RoboForex is:
RoboForex provides multilingual support in more than 12 languages including English, Indonesian, Arabic, Malaysian, and Spanish. Support system is available 24 hours a day, 7 days a week via:
The customer support help team can help with most queries, from how to delete a trading account and user verification to clarification on ECN commissions per lot and how to reset your investor password.
The head office address is 2118 Guava Street, Belama Phase 1, and Belize City, and Belize.
All RoboForex trading platforms use SSL encrypted security systems and dual-factor authentication protocols. Withdrawals and transfers can also be secured with an SMS confirmation code with each transaction. For their bonus programs, brokers also have anti-fraud measures to protect against repeated funds transfers.
RoboForex is an established online broker that offers a wide range of resources on reliable trading platforms including MT4 and R Trader. Brokers also provide regulated and negative balance protection, adding an extra level of confidence and security for traders. Overall RoboForex is a good and trusted broker for all levels but their zero-spread ECN account and RAMM trading platforms will be particularly attractive to professional traders.
RoboForex accepts traders from Thailand, United Kingdom, Singapore, South Africa, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, UAE, Saudi Arabia, Kuwait, Luxembourg, Qatar, and others countries. .
Traders from the United States, Canada, Japan and Australia will not be able to use RoboForex.
RoboForex Limited is a legitimate company registered in Belize and regulated by the International Financial Services Commission. As a result, it is less likely to be a scam. That being said, the broker gets mixed reviews on websites like TrustPilot.
You can sign up for an original account by clicking Open Account on the right side of the website. Users will need to fill in the details of your new member in order to register the login certificate in your area. After that, the verification phase will complete the process.
You can deactivate your account from within the members area. From the Accounts section, change the status of the account you want to remove to ‘No’.
No, traders from USA cannot sign up for a Live Trading Account. Likewise, clients in Canada, Japan, and Australia can also not register for a RoboForex account.
For all cents account, RoboForex acts as a market maker. The broker follows an STP model for all the standard and ECN accounts.
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1:2000.
An account can be opened at the click of a button on the RoboForex website and can be done in just a few steps.
Yes, MetaTrader 4 and MetaTrader 5.
“RoboForex Limited is regulated by the IFSC of Belize and offers clients access to trade on more than 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies and Metals, all through the popular MetaTrader 4 and MetaTrader 5 platforms as well as the cTrader platform and the broker’s proprietary R StocksTrader platform.”
It is a Forex and CFD broker founded in 2009. It is an official partner of BMW M Motorsport and is regulated by the IFSC of Belize and offers clients access to trade on more than 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies and Metals, all through the popular MetaTrader 4 and MetaTrader 5 platforms as well as the cTrader platform and the broker’s proprietary R StocksTrader platform.
Clients can also benefit from various bonuses and promotions such as the Welcome Bonus, Profit Share Bonus and the Classic Bonus. The broker offers extensive market research and educational material that is suitable for beginners and advanced traders. Multilingual 24/7 customer support is also available via Phone, Live Chat, Email, Facebook Messenger, Telegram and more.