Roboforex Review 2023
RoboForex is an international online broker offering trading services in a variety of financial markets, such as Forex, stocks, indices, commodities, and cryptocurrencies. Founded in 2009, the company is headquartered in Belize and operates under the International Financial Services Commission (IFSC) regulation.
RoboForex provides multiple trading platforms, including MetaTrader 4, MetaTrader 5, and its proprietary R Trader, catering to different traders' preferences and needs. The broker also offers a range of account types, including ECN, Prime, Cent, and Pro-Standard, with varying conditions and spreads to suit various trading strategies.
Pros
RoboForex is regulated by IFSC of Belize
A variety of account types are available
Low minimum deposit
Educational materials, analytics, and market news
Multilingual customer support
A variety of account types are available
Low minimum deposit
Educational materials, analytics, and market news
Multilingual customer support
Cons
Not regulated by Tier 1 regulators
Customer support may not be as responsive
No services to certain countries
Potential for high fees with some account types
Customer support may not be as responsive
No services to certain countries
Potential for high fees with some account types
is Roboforex a legit broker?
Why we think you should have no worries using Roboforex:
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RoboForex is regulated by the International Financial Services Commission (IFSC) of Belize |
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The broker maintains a transparent approach to its operations |
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RoboForex implements robust security measures to protect clients' funds and personal information |
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RoboForex has built a positive reputation in the trading community |
RoboForex Regulatory Compliance and Broker Accountability
RoboForex is regulated by the International Financial Services Commission (IFSC) of Belize. The broker operates under license number IFSC/000138/210. This regulatory oversight ensures that RoboForex adheres to legal and financial requirements, providing a degree of protection and trustworthiness for its traders.
RoboForex is regulated by the Cyprus Securities and Exchange Commission (CySEC). The CySEC is a respected financial regulatory body in Cyprus that enforces strict regulations to ensure the protection of investors and the integrity of the financial markets. As an CySEC-regulated broker, RoboForex is required to comply with the regulatory standards set by the CySEC, which includes segregation of client funds, negative balance protection, and providing transparency in pricing and fees. The CySEC also conducts regular audits and inspections to ensure that RoboForex is operating in compliance with its regulations.
RoboForex is registered in Seychelles and is overseen by the Seychelles Financial Services Authority (FSA), holding a Securities Dealer license.
 RoboMarkets Ltd |
 RoboMarkets Ltd |
 RoboMarkets Ltd |
 RM Investment Bank Ltd |
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|---|---|---|---|---|
| Regulations | Cypres CySEC | Belize FSC | Seychelles FSA | Malaysia FSA |
| Segregated Client Money | Yes | |||
| Investor Protection | ✔ | ✖ | ✖ | ✖ |
| Negative Balance Protection | Yes | ✖ | Yes | |
| Maximum Leverage | 1:30 | 1:2000 | 1:300 | 1:100 |
RoboForex, regulated by the International Financial Services Commission (IFSC) of Belize, is required to follow rules that protect client funds. To ensure this protection, the broker segregates client funds from the company's operational funds, maintaining a clear separation between the two. They must also maintain transparent financial reporting and submit regular reports to regulatory authorities.
RoboForex offers negative balance protection to its clients, which means that traders' losses cannot exceed the amount deposited in their trading accounts. If the balance goes negative due to extreme market conditions or high volatility, RoboForex will automatically adjust the account balance to zero, preventing clients from owing money to the broker.
This feature is particularly beneficial for traders using high leverage, as it reduces the risk of significant financial loss beyond their initial investment.
While RoboForex is a regulated broker and adheres to the rules and regulations set by the International Financial Services Commission (IFSC), there is no publicly available information specifically indicating whether the broker has professional indemnity insurance. Professional indemnity insurance is typically held by service providers like financial advisors or consultants, while brokers tend to have other types of insurance or protections in place to cover their operations and client funds.
A Review of RoboForex Account Types and Fee Structure
| Prime | ECN | R StocksTrader | ProCent | Pro | |
|---|---|---|---|---|---|
| Who is this for | Trading account type with the best conditions. Suitable for currency and other markets | For experienced traders, highest execution speed and competitive trading conditions | For trading through the R StocksTrader web platform | For testing strategies and EAs | Account type with beginners |
| Trading Platform |
  Metatrader (MT4, MT5) |
Metatrader (MT4, MT5), cTrader |
R Webtrader
|
Metatrader (MT4, MT5) |
Metatrader (MT4, MT5), cTrader |
| Trading instruments | 28 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies | 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies | More than 12,000: Indices, Real stocks, CFD on stocks, Currencies and ETF, CFDs on Oil, CFDs on Metals, Cryptocurrencies | 36 currency pairs, Metals, Cryptocurrencies | 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies |
| Commission | from $2 (round turn) | $4 (round turn) | variable | $0 | |
| Spreads | from 0 pips | from $0.01 | from 1.3 pips | ||
| Minimum Deposit | $10 | $100 | $10 | ||
| Minimum trade size | 0.01 lots | - | 0.1 lots | 0.01 lots | |
| Maximum trade size | 500 lots | - | 10 000 lots (micro) | 500 lots | |
| Leverage | 1:300 | 1:500 | up to 1:500 | 1:2000 | |
| Hedging | ✔ | ||||
| Islamic Accounts | X | ✔ | |||
RoboForex offers a variety of account types to cater to different traders' needs and strategies. The main account types include:
Pro-Cent
This account type is designed for beginners and traders with smaller budgets. It allows micro-lot trading with a minimum deposit of just $10. Spreads start from 1.3 pips, and there is no commission charged.
Pro-Standard
This account type is suitable for experienced traders and offers a minimum deposit of $10. Spreads start from 1.3 pips, and there is no commission charged.
Prime
This premium account is designed for advanced traders who require the best trading conditions. The minimum deposit is $5,000, with spreads starting from 0 pips and a commission of $10 per million USD traded.
ECN-Pro
This account is tailored for experienced traders who prefer tight spreads and fast order execution. The minimum deposit is $10, and it provides access to interbank liquidity with spreads starting from 0 pips. A commission of $20 per million USD traded is charged.
RoboForex also offers an Islamic (swap-free) account option for traders who follow Sharia law, as well as a demo account for practice and testing purposes.
Procedure for Deposit and Withdrawal in a RoboForex Account
| Account currencies | USD, EUR, RUB, PLN, BTC, ETH, XAU |
| Standard/RAW (MT4/MT5) accounts minimum deposit | 10 currency units |
| Funding methods | Bank Wire, Broker to Broker, Credit/Debit Cards, Neteller, Skrill |
| Deposit fees | Roboforex does not charge fees for deposits |
| Deposit processing times | from instant to 1 hour (bank wires up to 3 working days) |
| Withdrawal fees | Roboforex does not charge additional fees for withdrawals |
| Withdrawal processing times | variable, from instant to 1 day |
| Inactivity fee | Roboforex does not charge an inactivity fee |
RoboForex supports trading in a range of base currencies, including USD, EUR, RUB, PLN, BTC, ETH, XAU
This is important for two main reasons. Firstly, if you deposit funds into your trading account using the same currency as your bank account or if you trade assets in the same currency as your account's base currency, you can avoid paying conversion fees. Secondly, it allows for easier tracking and management of your account's funds, as all transactions are conducted in the same currency.
Deposit options
RoboForex offers a variety of deposit options to accommodate clients from different regions and with different preferences. Some of the deposit options available include:
- Bank transfer
- Credit/debit cards (Visa, MasterCard, etc.)
- Electronic payment systems (Skrill, Neteller, WebMoney, etc.)
- Cryptocurrencies (Bitcoin, Ethereum, etc.)
Please note that the availability of specific deposit methods may vary depending on your country of residence and your chosen account currency. Additionally, some deposit methods may involve fees or have minimum and maximum deposit limits
You can only deposit funds from accounts that are registered in your name.
Withdrawal options
RoboForex provides various withdrawal options for the convenience of its clients. Some of the withdrawal methods available include:
- Bank transfer
- Credit/debit cards (Visa, MasterCard, etc.)
- Electronic payment systems (Skrill, Neteller, WebMoney, etc.)
- Cryptocurrencies (Bitcoin, Ethereum, etc.)
Please be aware that specific withdrawal methods' availability might depend on your country of residence and the currency of your trading account. Also, fees, minimum and maximum withdrawal limits, and processing times may vary depending on the method you choose.
Exploring Trading Platforms Offered by RoboForex
RoboForex offers multiple trading platforms to cater to the needs and preferences of different traders. The main trading platforms available include:
MetaTrader 4 (MT4)
A popular and widely used trading platform that offers various tools, indicators, and features, including Expert Advisors (EAs), which enable automated trading. MT4 is available for desktop, web, and mobile devices.
MetaTrader 5 (MT5)
An advanced version of MT4, MetaTrader 5 comes with additional tools, more indicators, and an improved interface. Like MT4, MT5 supports EAs for automated trading and is available for desktop, web, and mobile devices.
R Trader
RoboForex's proprietary web-based trading platform, R Trader, is designed for fast and efficient trading across multiple asset classes. The platform offers advanced charting tools, trading robots, and strategy backtesting, making it suitable for both beginners and experienced traders.
Each platform has its unique features and capabilities, so traders should choose the one that best aligns with their trading style, preferences, and needs. To get familiar with each platform, you can also try RoboForex's demo accounts, which allow you to practice trading with virtual funds before committing to a live account.
RoboForex Review: Forex and Stock Trading Instruments and Products
RoboForex offers a wide range of trading instruments across different markets and asset classes, catering to the diverse needs of its clients. The primary markets and products available for trading include:
Forex
RoboForex provides access to over 40 currency pairs, including major, minor, and exotic pairs, allowing clients to take advantage of global currency market fluctuations.
Stocks
The broker offers trading in more than 12,000 stocks from different regions, including the United States, Europe, and Asia, giving traders exposure to global equity markets.
Indices
RoboForex enables clients to trade major global stock indices, such as the S&P 500, NASDAQ, DAX, FTSE, and more, offering exposure to broader market trends.
Commodities
Traders can access various commodities, including precious metals like gold and silver, as well as energy products like crude oil and natural gas.
Cryptocurrencies
RoboForex offers cryptocurrency trading with several popular digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, and more.
ETFs
The broker also provides access to exchange-traded funds, which are investment funds that trade on stock exchanges, offering diversified exposure to different sectors or asset classes.
Please note that the availability of specific trading instruments and asset classes may depend on the trading platform and account type you choose. It's essential to review the most up-to-date information on the RoboForex website or consult their customer support for details about available markets and products.
RoboForex Research Tools and Trading Instruments
RoboForex provides a variety of research tools and resources to help traders make informed decisions and improve their trading strategies. Some of the research offerings include:
Market analysis
RoboForex offers regular market analysis and commentary on its website, covering various asset classes such as Forex, stocks, indices, and commodities.
Economic calendar
An economic calendar is available to keep traders informed about upcoming economic events and data releases that may have an impact on the financial markets.
Trading calculators
RoboForex provides various trading calculators to help traders determine position sizes, calculate margin requirements, and assess potential profit or loss scenarios.
Technical analysis tools
The trading platforms offered by RoboForex, including MetaTrader 4, MetaTrader 5, and R Trader, come with a wide range of technical analysis tools, including charting options, indicators, and drawing tools to help traders analyze market trends and identify potential trading opportunities.
Trading signals
RoboForex offers access to trading signals (MQL5 signals) through its MetaTrader platforms, allowing traders to follow and copy the trades of experienced traders.
These research tools and resources can be valuable for both beginner and experienced traders looking to enhance their trading strategies and stay informed about market developments.
Forex Trading Education and Demo Account Availability at RoboForex
RoboForex offers a range of educational resources to help traders at different experience levels improve their trading knowledge and skills. These educational materials include:
Video courses
The broker hosts regular webinars led by experienced traders and analysts, covering a variety of subjects related to trading, market analysis, and risk management.
Webinars
Roboforex regularly hosts webinars featuring experienced traders and market analysts who share their insights and trading strategies with clients.
Articles and tutorials
RoboForex's website features a variety of articles and tutorials on different aspects of trading, including platform guides, trading strategies, and market analysis techniques.
Glossary
To help traders familiarize themselves with trading terminology, RoboForex offers a comprehensive glossary of trading terms and concepts.
Demo account
RoboForex allows clients to open a demo account, which provides an opportunity to practice trading with virtual funds, test different strategies, and get accustomed to the trading platforms before committing real money.These educational resources cater to both beginners and experienced traders, aiming to enhance their understanding of the financial markets and develop effective trading strategies. Keep in mind that trading in financial markets carries risks, and it is essential to carefully consider your investment objectives, level of experience, and risk tolerance before engaging in trading activities.
Customer Service Excellence in Trading Service at RoboForex
RoboForex offers a variety of customer support options to assist its clients with any inquiries or issues they may encounter. The available support channels include:
Email
Live chat
RoboForex provides a live chat feature on its website, enabling clients to receive real-time assistance from customer support representatives.
Clients can send an email to the customer support team with their questions or concerns. The email address for support is typically available on the broker's website.
Phone
RoboForex offers phone support for clients who prefer to speak directly with a support representative. The broker has phone numbers listed on its website for various regions and languages.
Callback Service
Clients can request a callback from the support team by filling out a form on the RoboForex website.
FAQ and Help Center
RoboForex maintains a comprehensive FAQ and Help Center on its website, which covers a wide range of topics and may provide answers to many common questions.
Customer support at RoboForex is available 24/7, ensuring that clients from different time zones and regions can receive assistance when needed. It's essential to verify the most up-to-date contact information on the RoboForex website or consult their customer support for details on available support channels and hours.
Conclusion
RoboForex Ltd, a renowned forex broker, has continued to create a significant impact in the world of online trading with its enhanced offerings in 2023. The company provides diverse account options, such as the ECN account, Prime account, Standard account, and the Pro account, to meet the varying needs of RoboForex clients. Each account type provides unique trading costs and benefits, allowing traders to select an option that best complements their trade volume and strategy.
With RoboForex, the process to start trading is simplified. Clients can easily open an account, meeting the minimum deposit requirement for their chosen account type. Both seasoned and novice traders find the trading experience enjoyable due to the broker's advanced trading tools and user-friendly platforms like MT4 and MT5, as well as mobile trading for on-the-go traders. For traders interested in forex trading and CFD trading, RoboForex provides a comprehensive trading environment, complete with excellent trading conditions and a Pro-Standard account specifically designed for professionals. The company also ventured into stock trading, expanding its asset offerings.
One of the standout features of RoboForex in 2023 is the CopyFX platform, which allows copy trading. With this innovative tool, beginner traders can mimic the strategies of successful traders, fostering a more secure and profitable trading experience. The CopyFX platform adds to RoboForex's reputation as a forex broker that prioritizes customer growth and satisfaction. With such an array of services and continuous improvements, RoboForex is certainly cementing its position as a reliable and advanced platform for online trading.
FAQ
What is trading with RoboForex like?
Trading with RoboForex offers a range of trading options including forex and CFD trading. The broker provides advanced tools and features on the MetaTrader 4 and 5 platforms. RoboForex clients also have access to analytics to help them make informed decisions.
Is RoboForex a good broker?
Yes, RoboForex is a good broker. It is an established and trusted broker, regulated by IFSC and based in Belize. The broker is required to follow stringent regulations which ensure the safety of its clients' funds.
What different account offers does RoboForex provide?
RoboForex offers a variety of different account types to meet the diverse needs of traders. Each account offered by RoboForex, including the popular Pro-Standard account, supports multi-asset stock trading.
What does the RoboForex broker review say?
Broker reviews highlight that RoboForex is an international broker that offers multilingual support and an excellent trading experience. The company is praised for its wide range of trading options and advanced features, such as MT4 and MT5 trading platforms.
What are RoboForex charges?
RoboForex does not charge commission on several account types. However, the broker does have spread and swap charges which can vary depending on the account type and the asset being traded. Detailed information on RoboForex charges is available on their website.
Which account is the most popular at RoboForex?
The Pro-Standard account is the most popular at RoboForex due to its low minimum deposit requirement and flexible trading conditions. It is suitable for both beginners and experienced traders.
What support does RoboForex offer for trading Forex?
RoboForex offers extensive support for trading forex. This includes access to the MT4 and MT5 trading platforms, market analytics, educational resources, and 24/7 customer support.
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