RoboForex Review

Point Summary

Awards

RoboForex was recognized by the most respected experts of the financial industry. Over the years, It has been awarded the following titles:

• Best Broker of the CIS (IAFT Awards 2019)
• Best Investment Platform (IAFT Awards 2019)
• Best Stock Broker Asia (International Business
• Magazine Awards 2019)
• Best Investment Products, Global (Global Brands Awards2019)
• Best Crypto Broker (2018)
• Safest Broker (2018)
• The Best ECN Broker (2016)

Is RoboForex safe or a scam

RoboForex Ltd is an international broker regulated by the International Financial Services Commission of Belize, as confirmed on the IFSC, license No. 000138/333

The regulator ensures that only the most reliable and socially responsible companies receive the license to operate within Belize and beyond.

As a financial market regulator, IFSC Belize carries out certification of and control over the market members, as well as guarantees efficiency, honesty and transparency of the work of its grantees.

RoboForex Ltd is also an official participant of The Financial Commission, an international organization, which resolves disputes between its participants and their clients.

The broker provides further security of client funds by the following:

• Holding client funds in segregated accounts from company funds.
• Providing a negative balance protection policy.

How are you protected?

RoboForex Ltd, which is an "A" category member, also is a participant of The Commission’s Compensation Fund. The Compensation Fund is a service included with Financial Commission membership which provides protection up to €20,000 per case should a Member refuse to adhere to a judgment from the Financial Commission.

RoboForex has also implemented a Civil Liability insurance program for a limit of 5,000,000 EUR, which includes market-leading coverage against omissions, fraud, errors, negligence, and other risks that may lead to financial losses of clients.

Accounts

RoboForex offers its clients several types of accounts and they can choose the one that is the most suitable for them.

• Prime Account
• ECN Account
• R Trader
• Pro-Cent
• Pro-Standard

Prime

Trading accounts with the best trading conditions available at the company (similar to liquidity providers), which are intended to "advanced" traders.

ECN

ECN accounts are intended for professionals, who prefer the best trading conditions available (tightest spreads, high execution speed).

R Trader

A unique account for trading through multi-asset web platform R Trader for experienced traders, who want access all major financial market from a single account.

Pro-Cent

The key feature is using cents as the base currency unit (US Cent, EU Cent, etc.). Using Pro-Cent accounts, beginners and experienced traders can test their trading strategies.

Pro-Standard

The most popular account type at RoboForex with optimal trading conditions, which is suitable for both beginners and experienced traderRoboForex Account Types

A new trading account at RoboForex can be opened in few simple steps:

Click on the Open Account tab on the broker’s homepage.

The application form first consists of inputting email, name and phone number and agreeing to the Terms and Conditions.
Users are then asked which trading account and platform they would like to open.
Then users are redirected to the RoboForex Members Area in which users can manage trading accounts and deposit funds.

Standard KYC and AML verifications are in place with traders requested to confirm the email address, identity and address. This can be done easily by uploading photos to the relevant part of the members’ area.

How long does my demo account last for?

No expire for Demo account, it means demo account will remain there unless you close it

Islamic accounts

Islamic accounts are available for Cent and Standard accounts using MetaTrader 4 and for Pro-Affiliate accounts. To open an Islamic account, you must first open your account normally. Then, contact live support to switch your account to a swap-free one.

Unfortunately, if you do opt for a swap-free account at RoboForex, you will have to pay extra commission fees. This isn’t based around interest rates, yet it may still make the account questionable for some Muslim traders. Commissions start at 8 USD for EURUSD pair.

Products

Trading Platforms

You have five different trading platforms to choose from when you open an account with RoboForex. Experienced traders who want something familiar will appreciate the availability of MT4 and MT5 platforms. You can also use cTrader for STP-access to the forex market. Additionally, RoboForex has two proprietary platforms, R WebTrader and R MobileTrader. There are also two investment platforms from RoboForex that involve copy trading.

Web and Desktop Trading Platforms

RoboForex MetaTrader 4

The RoboForex MetaTrader 4 trading platform is available for web browser and desktop download, the web terminal offers the same features and performance as the desktop version. It has all features and tools that are necessary for both beginners and experienced traders of the financial market such as:

• 3 types of order execution
• 50 ready to use technical indicators
• Opportunity to program your own trading robot
• One-click trading
• Algorithmic trading functionality
• Buy Expert Advisors and indicators directly in the platform.
• Fundamental analysis daily

RoboForex MetaTrader 5

MetaTrader 5 is one of the most advanced platforms for creating and testing trading robots and strategies. If you value speed and reliability while working with trading robots, and want to use the most up-to-date modern technologies, then MetaTrader 5 platform is the best choice for you. It is available for web browser and desktop download

• 4 types of order execution
• Multi-currency tester
• Market depth
• 6 types of pending orders
• can find more that 1,500 expert advisors and technical indicators.
• MetaTrader 5 features netting and hedging systems, Market Depth, and segregation of orders and transactions.
• Algorithmic trading
• Virtual hosting

cTrader Plarform

cTrader is a platform for experienced traders, who prefer order execution speed and unconventional instruments to implement their trading strategies.
It is available for web browser and desktop download

• Rare types of orders
• Level II Pricing
• 54 technical indicators
• 14 timeframes
• "Pinpoint" position management
• Your own robots and indicators
• 9 types of interactive charts
• Customizable list of instruments

Web platform R Trader

Multi-asset terminal R Trader combines cutting-edge technologies and a classic design taken to a completely new level. No more unnecessary software and updates – get access to all global financial markets via a web terminal in a familiar web browser.

• Convenient and easy-to-use
• Initial deposit is 100 USD
• Stocks leverage is up to 1:20
• "Advanced" watchlists
• More than 12,000 instruments
• Track splits, merges, get dividend payments etc.
• Level II Market Depth and TimeSales
• Trading robots builder

RoboForex terminals

The RoboForex R Web Trader platform is for MT4 accounts and offers the following features:

• 13 technical indicators
• 9 tools for graphic analysis
• Convenient account management
• Analytics from RoboForex experts
• Instant account depositing
• Fast switching between accounts

Mobile Platform

RoboForex offers users the ability to access mobile trading on the go from the MetaTrader 4, MetaTrader 5, cTrader and R MobileTrader trading apps for both Android and iOS systems. The app download links can be found on the broker’s website, the Members Area or in the Google PlayStore or Apple AppStore.

The mobile trading apps offer the majority of the same features and functionality as the corresponding web-based platform which includes the ability to trade on multiple asset classes, view real-time prices, access multiple order types and more.

Which trading platform is better for you?

Most seasoned traders will tell you that all they really want from a trading platform is something that is reliable and easy to use, intuitive, and doesn’t crash. Each platform is unique and has its own pros and cons, so it is best to understand what you want in a forex account, and platform before you get started.

Deposits and Withdrawals

There are nearly 40 deposit and withdrawal methods at RoboForex, which is right in line with the broker’s obvious focus on flexibility and choice for its clients. In all cases there are no fees imposed for deposits, while there are different fee structures for each withdrawal method

Deposits can be made on RoboForex as follows:

• Bank payments: Bank Transfer(SEPA), Local Bank Transfer, etc
• Electronic payments using WebMoney, Skrill, Neteller, PayPal and CashU, etc
• Bank Cards: VISA/MasterCard/JCB, China UnionPay
• Cash Vouchers: efecty , Davivienda, Carulla, etc

Some of them as below

The minimum deposit depends on the account type:

• Pro-Cent, Pro-Standard, and ECN: 10 USD / 10 EUR or equivalent in the account currency.
• Prime: 5,000 USD or equivalent in the account currency.
• R Trader: 100 USD / 100 EUR.

How long does a Deposit take?

Most of payment take from 1 minute to 1 day except Bank Transfer (SEPA) take up to 3 business day

How can I fund my account at RoboForex?

You can deposit funds to your account using any payment system available in your Members Area.

1. Go to "Deposit Funds" page.
2. Choose the account to deposit funds to from the dropdown list.
3. Choose the payment system.
4. Decide whether you want to deposit funds and receive the bonus funds or not and choose the percentage.
5. Specify the amount and the currency
6. Click "Deposit funds".

After that, there will be the second step of the depositing procedure, where you may be asked to specify some additional information according to the requirements of the chosen payment system.

Withdrawals can be made via VISA/MasterCard/JCB, Bank Transfer(SEPA), Local Bank Transfer, China UnionPay , WebMoney, Skrill, Neteller.

The RoboForex takes no commission for the withdrawal of funds. Commission may be taken by your bank or other payment systems.

How long do withdrawals take?

• Bank payments: from 1 to 3 business days
• Electronic payments: from 1 minute to 1 day
• Bank cards VISA/MasterCard/JCB : from 1 - 10 bank days

How do I withdraw my profits from RoboForex?

You can withdraw funds from your account in your Members Area. To do this:

1. Go to "Withdraw Funds".
2. Make sure that the active account in your Members Area is the one you want to withdraw funds from.
3. Choose the payment system from the list of available withdrawal options.
4. Click "Go to".

Depending on the chosen payment system, you may be asked to specify some additional information on the next page to create a withdrawal application.

Please note that withdrawal applications are processed by the Company within two business days from 9:00 AM to 6:00 PM (EET).

Commissions and Fees

Trading costs with RoboForex vary depending on the account type opened, instrument traded and platform used.

Prime Accounts

• Commission of $10 per million traded on Forex pairs.
• Commission of $4 per million traded on CFD Indices and Energies.
• Commission of $2,000 per million traded on Cryptocurrencies.
• Commission of $150 per million traded on US Stock CFDs.

ECN Accounts

• Commission of $20 per million traded on Forex pairs.
• Commission of $5 per million traded on CFD Indices and Energies.
• Commission of $2,000 per million traded on Cryptocurrencies.
• Commission of $200 per million traded on US Stock CFDs.

R Trader Platform

• US Stocks Pro commission of 0.0045 USD per share with a minimum commission of 0.25 USD with a maximum leverage of 20:1.
• US Stocks commission of 0.02 USD per share with 1.5 USD minimum with a maximum leverage of 2:1.
• US Stock CFDs commission of 0.015 per share with 1.5 USD minimum with a maximum leverage of 20:1.
• Cryptocurrency commission of 0.30%.

Pro Standard

• Commission-free with spreads and swaps payable.

Pro Cent

• Commission-free with spreads and swaps payable.

The broker provides further details regarding spread and swap values on its website for each asset class tradable across each account type, as the snapshot shows below:

Register RoboForex Account

Bonuses and Promotions

Currently RoboForex offers Welcome Bonus 30 USD, Profit Share Bonus, Classic Bonus

Welcome Bonus 30 USD

Initial 30 USD are available to all newly registered RoboForex clients with cent and standard accounts.

How to receive welcome bonus

Profit Share Bonus

You have an opportunity to receive up to 60% of the deposited sum on all RoboForex standard and cent accounts.

How to receive Profit Share Bonus

Classic Bonus

You have an opportunity to receive up to 120% of the deposited sum on all RoboForex standard and cent accounts.

How to receive classic bonus

Trading Features

RoboForex offers a variety of additional trading features such as: CopyFX, RAMM

CopyFX

Every participant of the platform will surely find all tools and instruments that are necessary for success, whether they are an exceptional trading strategy, which is attractive to subscribers, or the most promising Trader to copy transactions from. It allows you to benefit from both of these opportunities in order to increase your trading efficiency.


RAMM

The main difference between RAMM and other investment platforms - increased control over risks and proportional profit distribution. The platform has an intuitive interface with robust functionality and unique technologies. Subscribe to the most profitable strategies, create your own and receive the deserved benefits - everything on one RAMM account.

How to invest with RAMM?




Customer Support

The customer support team at RoboForex is just as professional as is everything else at the broker.
It is available via online chat, through email, via telephone, or through a webform. Clients can also request a callback if they wish to speak directly to support, but don’t want to bear the cost of the call.

Support is provided in 14 different languages, and on a 24/7 basis. Our test of the support staff showed them to be knowledgeable and responsive.


Live Chat

It takes nearly 3 minutes to connect to support team as shown below:

FAQ

There is also an FAQ section covering common questions that clients can refer to instead of spending time trying to directly contact the company.

Contact Information:

• Address: 2118 Guava Street, Belama Phase 1, Belize City
• Email: [email protected]
• Phone: +65 3158 8389

Register RoboForex Account

Research Education

Education

RoboForex offers a range of education and training for traders of all skill levels, with a strong focus on resources for beginners. You can start with review of RoboForex’s FAQ section, where you will find definitions of many terms and concepts. There are also videos and various articles, most of which are accessible only once you log into your account.


Research

RoboForex offers a range of research tools for traders, with some integrated directly into the platforms and others available on the broker’s website. You will find trading calculators, an economic calendar, news, analysis, and more. You can also use the RoboForex Analytics center to complete your own technical and fundamental analysis.

Economic Calendar

Conclusion

RoboForex is gained its excellent reputation by sticking solidly to a mission of customer service and satisfaction, and that’s a principle it continues to operate by today.

It caters for all types of traders with their multiple account types. it is a great choice for traders looking for diversity of trading platforms.

There is an impressive array of instruments available for trading, spanning forex, CFDs, commodities, cryptocurrencies, indices, and more. The availability of regular stocks on R Trader accounts helps the broker appeal to those who want traditional investments, as well as forex and CFDs, and prefer to manage everything from a single account.

There are no fees for depositing money into a RoboForex trading account. The broker will cover all charges incurred, while offering clients more than 20 payment options to choose from.

Switching over to promotions and bonuses, RoboForex has a pretty good offering for new clients, including a welcome bonus of 30 USD for standard and cent accounts with USD/EUR as their base currency. The bonus will be deposited into the account as soon as it is verified, and after the trader has deposited at least 10 USD.

We were also favorably impressed with the CopyFX and RAMM social trading platforms. Both look to be very useful for those who want a more directed trading experience. And the R-Trader platform gives hands-on traders access to more than 12,000 different assets. Not many brokers offer such a wide variety of assets.

All in all, combined with trustworthiness, reliability, regulation, and insured deposits makes RoboForex a broker worth trading with, in our opinion

Yet, we would be glad to know your personal opinion about RoboForex, you may share your experience in the comment area below, or ask us for some additional information if required.