RoboForex Review 2022
Online broker RoboForex offers trading options on their RAMM, Pro-Cent, and Pro-Standard live accounts. In this review, we discuss the broker’s impressive array of platforms, including MT4 and MT5, as well as regulation, bonuses, and deposits.
Describe Roboforex.
A multi-asset broker and global online financial trading platform, Roboforex was established in 2009.
After more than 13 years, Roboforex has expanded to provide retail investors with access to both Forex and CFD trading.
A global broker is called Roboforex. Cyprus serves as the headquarters of Roboforex.
Finding a broker who can meet your needs when trading on the financial markets can take a lot of time.
This Roboforex review will go in-depth and evaluate how well the Roboforex platform performs in its role as a global trading platform for multiple financial assets for traders in 2022.
You frequently have to visit and read numerous broker websites, all of which use various linguistic constructions. The language might be highly ambiguous. It can be challenging to select an online broker like Roboforex. The first few obstacles for a newcomer may be what looks to be a complicated mobile or online trading platform, difficult-to-understand financial jargon, and perplexing cost structures. The benefits and drawbacks of Roboforex are broken down in our evaluation. What Roboforex can provide and in which countries it is accessible. who controls Roboforex, among other information.
Company Information for RoboForex
The International Financial Services Commission (IFSC) regulates RoboForex, which was established in 2009 and has its headquarters in Belize (IFSC number 000138/210). The broker provides 2 investment platforms, 4 trading platforms, and more than 12,000 trading instruments across 8 asset classes.
With more than 3 million real accounts opened since its debut, RoboForex has developed a solid reputation over time. Additionally, the business has made headlines for being the official partner of BMW M Motorsport and for signing a sponsorship agreement with Andrei Kulebin, a Muay Thai fighter and world kickboxing champion.
The company has a global presence and offers specialized services to meet the needs of its clients, including copytrading and crypto deposits.
Trading Environments
TradeStation 4
With 50 technical analysis indicators, fundamental graphical tools, and 3 order execution types, MT4 has all the features a trader, whether novice or expert, could possibly need. With StrategyQuant, users can program their own trading robots and benefit from one-click trading.
Platform for RoboForex MT4
The platform is offered as a desktop program that can be downloaded or as a handy webtrader that can be used directly from a browser.
Market Trader 5
The cutting edge MT5 platform, which offers speed and dependability for advanced trading, is available to professional traders. The adaptable system includes Market Depth, four different order execution types, six different types of pending orders, netting and hedging capabilities, as well as several technical indicators and graphical tools.
Platform MT5 RoboForex
Once more, customers have the option of using the platform through a web browser or a downloadable PC application.
cTrader
The cTrader terminal is a practical solution for seasoned clientele looking for a MetaTrader substitute. Rare order types, Level II pricing, 54 technical indicators, 14 timeframes, and 9 different chart formats are all available to users. Using cTrader Automate, you can also make trading robots and indicators.
Web-based trading platform RoboForex
The platform is available for download or direct browser access. For users of MacOS PCs, the web version is excellent.
Stock Trader R
For individuals who want to invest in international markets, the user-friendly proprietary platform R StocksTrader offers a traditional design and convenient trading.
13 technical indicators, 9 graphical tools, Level II Market Depth, and an automatic strategy tester are all available to users. Additionally supported are netting and hedging account models.
Platform RoboForex R Trader
Both a desktop application and a web platform are offered by R StocksTrader.
In addition to CFD trading, the platform also supports genuine stock trading. Clients can thus fully own the assets. Additionally, it provides real-time access to Nasdaq listings, allowing traders to see their orders being filled.
Trading shares using both conventional methods and CFD derivatives gives investors greater freedom than they will find anywhere else.
CopyFX
Customers of Roboforex can access copy trading using the CopyFX platform.
Based on trading history, traders can identify profitable traders, evaluate performance, and set up alerts or signals. Followers are completely free to copy a trade instantly or not when copied traders open or close transactions.
The CopyFX Profibot system has received the most research on the tool, which has shown to be quite popular.
The key is the breadth of copy fx traders to follow, just like with other well-known copy trading platforms like eToro. There aren’t many options available for people looking to duplicate without a sizable bank of traders. Thank goodness, CopyFX has a sizable number of active traders, and more are constantly signing up.
‘How To’ Video for CopyFX
Assets from RoboForex
More than 12,000 worldwide equities, more than 10 indexes, including the Dow Jones (US30) and NASDAQ, 100 commodities, including oil, and ETFs are all available for trading to clients.
Additionally, the broker offers 26 cryptocurrencies in addition to crypto-indicies, a special product that enables simultaneous trading on multiple cryptocurrencies.
Overall, RoboForex’s depth of products in 2022 impressed our evaluation. Please take note that the broker’s website has comprehensive contract details.
Commission & Spreads
Pricing varies depending on the account you select, however spreads are generally reasonable when compared to brokers like FBS and FXTM.
The spreads, which average about 1.4 pips for EURUSD, 1.75 pips for US indices, and about 22 pips trading XAUUSD, include fees for the Pro-Cent and Pro-Standard accounts (Gold).
The Prime and ECN accounts will have tighter spreads, with zero pip spreads possible in several asset classes.
Leverage
RoboForex offers a maximum leverage of 1:2000 for Pro-Cent and Pro-Standard accounts. The ECN account offers leverage up to 1:500, whereas the Prime and R StocksTrader accounts only offer leverage of 1:300.
There is a margin calculator available on the internet.
Mobile Apps
RoboForex provides smartphone apps for all of its trading terminals (MT4, MT5, cTrader, and R StocksTrader) for mobile traders:
• MetaTrader users who utilize MT4 and MT5 have access to the same technical capabilities as users of desktop applications, such as fully customizable charting tools, complete trading histories, and trading robots. On mobile platforms, the same members client login page is accessible.
• cTrader – In addition to in-app notifications, cTrader provides useful features like pinch-to-zoom, fling scrolling, and double-tap action to recentre charts.
• R StocksTrader – R StocksTrader (formerly R Trader) offers an all-in-one solution with secure in-app account deposits and bonus administration. It is also fully featured. In addition to live charts and quotations, the app also has extra mobile-friendly features and 14 trade indicators.
RoboForex trading on mobile
Users of iPhones and Android (APK) devices can access all platforms in 22 different languages. The MT4 and MT5 mobile apps generally have the most favorable online evaluations for users.
Payment Procedures
Deposits
At RoboForex, there are numerous deposit options available in nine different currencies, including USD, EUR, GBP, and ZAR. There are options for card payments, local and international bank deposits, e-wallets, and card payments. PayPal cannot be used.
All deposit options are quick and easy, and the most of them need for a minimum deposit of 10 USD or EUR with ordinary accounts.
Deposits in cryptocurrencies are also possible for non-EU customers. Using cryptocurrencies, traders can deposit, trade, and withdraw money.
Withdrawals
13 withdrawal options are available, albeit your jurisdiction may have different restrictions. The majority of methods only require one day for withdrawals, which is praised by customers in 2022.
Withdrawal commissions vary, but they typically range from 0.5% to 2.8%. The organization does have a Free Funds Withdrawal program that lets you withdraw money without paying any commissions twice a month. The webpage has further information and restrictions.
Clients outside the EU can withdraw cryptocurrency.
Minimum Deposit for Roboforex
When opening a Roboforex trading account, a minimum deposit of 1 GBP/USD/EUR is required.
The minimal sum of money required by Roboforex to start a new online brokerage account with them is known as a minimum deposit.
Brokers like Roboforex that need a minimum deposit to start a trading account shouldn’t scare you away. Higher minimum deposit brokers frequently provide extra premium features on their platforms that are not offered for free on other platforms.
Brokers with smaller minimum deposits typically target a more general market that doesn’t need some of the more sophisticated features and research tools.
Brokers that don’t require minimum deposits typically do so to draw in new clients. Transaction commissions and other trading fees could be greater with a low minimum deposit account since they need to generate returns in some other way.
Brokers with higher minimum deposit requirements typically have a wider selection of trading features available on their platforms. These brokers frequently have superior risk management features and more thorough technical analysis and research capabilities.
The minimum amount needed to start a live trading account has decreased as more online trading platforms have joined the market and as more brokers compete for new customers.
Some brokers demand a minimum deposit as high as 6500 GBP/USD depending on the type of trading account you choose. Some brokers provide exchange rates up to 10,000 GBP/USD.
Fees for Roboforex withdrawals
Depending on the withdrawal payment option you choose, Roboforex has different withdrawal costs.
Each broker has its own unique withdrawal policies that govern how money can be taken out of trading accounts.
This is due to the fact that every brokerage house will have a distinct withdrawal process, and every payment provider may have various transfer processing costs, processing delays, and potential currency conversion fees. Your base currency, your receiving currency, and your payment provider all affect the conversion fee.
For instance, you can withdraw money from Roboforex to credit cards, debit cards, bank transfers, VISA, MasterCard, JCB, electronic wallets (eWallets), Neteller, Skrill, Perfect Money, AdvCash, Bitcoin, WebMoney, BPAY, China UnionPay, FasaPay, CashU, QIWI, Yandex Money, WeChat Pay, ecoPayZ, AstroPay, Sofort, Giropay, Poli, Wepay, I
Fees for Roboforex Inactivity
There are no fees associated with dormant accounts at Roboforex.
A fee is assessed to the registered brokerage client known as an account inactivity fee.
According to the terms and conditions of the accounts, clients may be required to comply with certain trading activity requirements set forth by brokers.
An inactivity fee could be owed if a client’s trading account doesn’t engage in any buying and selling for the predetermined amount of time set by the broker.
Online trading accounts are not the only ones that incur inactivity penalties. There may be inactivity fees levied by several financial service providers. Make sure you are informed of and satisfied with all the services and costs you can be charged by visiting the broker’s website.
Close your trading account if you are no longer using it by contacting the broker’s customer service. A certification that any outstanding fees are not owed should also be obtained.
You may only be assessed an inactivity fee under specific conditions, depending on the type of account you have opened. A broker is required by regulation to disclose any inactivity costs in full.
To make up for the lack of commission fees from your trading, certain brokerage firms may levy inactivity fees in exchange for keeping your account active on their pricey trading platforms.
Fees for Roboforex Deposits
Deposit fees are not assessed by Roboforex. Despite the possibility of bank or third-party merchant fees.
As some brokers may charge a fee when you deposit money from your payment method to your trading account, you should constantly verify the deposit fees. This is due to the possibility of fees associated with the payment method you use to fill your account.
When you add a certain type of fiat currency to your account, a fixed fee can apply. For instance, it is well knowledge that costs are high when making a credit card deposit. If your broker permits credit card funding of your account, then this will apply.
Commission Fees for Roboforex
On CFD instruments, Roboforex does not charge a commission.
In exchange for enabling the purchase and sale of financial assets through your trading account, a broker may charge a commission fee.
The majority of a brokerage’s income can come from commission fees levied on customer transactions to registered traders.
Depending on the type of trading you do, the type of financial asset you are using, and the size of your trading account, commission costs can vary.
If the brokerage completes, cancels, or alters an order on your behalf, broker commissions will be assessed.
Typically, no commission is assessed if your brokerage does not fulfill a market order.
Be advised that your brokerage may impose a commission fee if your order is changed or canceled.
Trial Account
Three demo accounts are available from RoboForex, Demo Pro, Demo, and Demo R StocksTrader. These accounts are all compatible on all platforms.
The most popular option is the Demo Pro account, which mimics the trading circumstances of the normal account packages with a maximum leverage of 1:2000 and variable spreads starting at 1.3 pips.
Users can experiment with trading methods without risking or spending real money.
From the broker’s home page, you can create a demo account. The free practice account has a 90-day expiration date.
Bonus Offers and Services For RoboForex
RoboForex offers a variety of bonus programs, trading services, forex incentives, and other trading resources to make trading more convenient and approachable. You may be able to use our thorough list of RoboForex bonuses and other promotional offers in your trading strategy. Please be aware that the RoboForex Bonus services and offerings listed below are subject to change, and you must carefully review the terms and restrictions.
Your success in online trading depends on having a trustworthy and competent broker. To prevent losing your cash, be sure your broker is genuine and trustworthy. Check to see whether your needs and your broker’s profile match in order for you to have a successful working relationship.
For this reason, we took the time to examine only the top brokerage firms, their procedures, their fee structure, and all other crucial factors. We urge you to weigh the pros and cons of each broker before entrusting your hard-earned money to them. We hope that our Roboforex review was helpful to you.
This Roboforex platform review is quite thorough. Please take the time to read and thoroughly research the entire Roboforex review if you are considering trading with the platform in any capacity.
In order to give you, the trader, as much information as possible before you begin using the Roboforex trading tools and depositing and withdrawing money from Roboforex, we have attempted to explain the ins and outs of financial trading using the Roboforex platform as simply as possible.
Online investing carries the same risk as any other offline investment. As with any investment, it’s crucial to understand and thoroughly study the business you’re working with. when trading financial instruments through Roboforex, such as forex and CFD trading. You should have faith in Roboforex and be assured that your financial investments on the Roboforex platform are being managed by professionals.
This Roboforex review also includes information on other respectable Roboforex substitutes.
We hope that this Roboforex review will assist you in determining whether Roboforex is a good fit for you.
The idea that trading online is simple is a prevalent one. Trading online is challenging, and traders need to do their own research and understand exactly what they are doing. You will discover crucial facts about Roboforex in this post that will aid you in starting out successfully in the realm of online trading.
Bonuses
Pro-Cent and Pro-Standard new account holders who make a minimum bank card deposit of 10 USD will receive a welcome bonus of 30 USD.
Additionally, users of Cent and Standard can take advantage of the 60% Profit Share Bonus and up to 120% on deposits by claiming the Classic Bonus.
The broker also provides other promotions, such as free VPS servers, cashback rebates depending on trading volume, daily competition chances with ContestFX, and bonus credits of up to 10% on account balances.
On the broker’s website, you may read the complete terms and conditions for bonus withdrawal.
Traders should monitor the website for upcoming promotions as RoboForex does not presently offer any no deposit bonus (NDB) incentives in 2022. However, the company has in the past provided weekly demo contests.
Regulation
Under license number 000138/210, RoboForex Ltd. is governed by Belize’s International Financial Services Commission (IFSC).
RoboForex Ltd. is a participant in the Compensation Fund, which offers protection up to €20,000 per case, as an “A” category member of the Financial Commission.
Additionally, the broker offers protection against negative balances and carries civil liability insurance. RoboForex is a reliable and secure online broker overall.
Extraordinary Qualities
The educational tools provided by RoboForex include tutorials, on-demand videos, forex analysis, as well as a helpful community forum, blog, and economic calendar. These tools are beneficial to both amateur and experienced investors.
Economic calendar for RoboForex
The RoboForex Analytics centre, a free subscription to analytical data and trading instruments from within one window, is the most notable feature. Users can access signals, videos, calendars, and trading tools through this site, which provides an interactive data layout and is available in 13 different languages.
Accounts
Five active account categories are available on RoboForex: Prime, ECN, R StocksTrader, Pro-Cent, and Pro-Standard. Except for the R StocksTrader account, which requires a 100 USD investment, all accounts require a minimum deposit of 10 USD or EUR. Compared to other brokers like HotForex, Tickmill, and Exness, these minimum deposits are quite cheap.
Professional traders searching for spreads starting at zero pip should use the ECN and Prime accounts, while multi-asset stock trading is supported by the R StocksTrader account. Beginners and occasional traders should use Pro-Cent and Pro-Standard accounts.
According to this analysis, the margin call/stop-out levels, leverage caps, minimum margin requirements, and bonus eligibility are the primary variations between the accounts. The Pro accounts are eligible for all bonuses, but the R StocksTrader account is not eligible for any.
Islamic swap-free accounts and investment options utilizing the CopyFX and RAMM platforms, which support investments in short-term and long-term trading strategies, respectively, are also offered.
From the RoboForex homepage, you can open a real money trading account and begin trading in active markets.
Benefits
Open a RoboForex account for the following reasons:
• Bonuses provided
• Good selection of assets
• 4 platforms for live trading
• Trading without commissions
• Trading stocks using regular stock exchanges or CFD derivatives
• Copytrade trading systems, such as CopyFX
Drawbacks
There is only one significant disadvantage to signing up with RoboForex:
• No acceptance of US clients
Trading Hours
Forex can be traded seven days a week, 24 hours a day, but the busy trading hours vary by time zone. The times shown below are UTC+2 (Eastern European Time, EET).
• Singapore and Japan – 2:00 – 10:00
From 03:00 to 11:00 in Hong Kong
• Frankfurt: 8:00 a.m. to 16:00 p.m.
• 09:00 to 17:00 in London
• From 15:00 to 23:30 in New York
• Chicago, 16 a.m. to 24 p.m.
• Sydney and New Zealand: 22:00–06:00
Additionally, RoboForex updates its trading calendar for important holidays.
Service to customers at Roboforex
Roboforex supports a number of languages, including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian. We also examine customer service options, response times, and the effectiveness of the Roboforex trading platform’s problem resolution.
Roboforex offers live chat and email help in many languages, earning them a double AA score for customer service.
Support via live chat at Roboforex
LiveChat support is not available at Roboforex.
Support via email at Roboforex
Numerous emails were sent to Roboforex, and overall response times were very good. Roboforex responded in less than 15 minutes at its quickest and 7 hours at its slowest. Roboforex support response times may differ for you, however in our experience, sending 10 emails at various times resulted in this.
Our questions were answered and resolved by the team. Overall, Roboforex’s email assistance is excellent.
Call Center at Roboforex
When we called Roboforex, the call was promptly answered. In less than five minutes, the call was returned.
Our queries and concerns were successfully addressed by the Roboforex phone support team. By dialing in different languages, we put the multilingual Roboforex crew to the test. Roboforex made an effort to respond to all of our questions.
Roboforex offers excellent phone service overall.
Security
All RoboForex platforms employ dual-factor authentication procedures and SSL-encrypted security technologies. An SMS confirmation code can also be used for each transaction to secure withdrawals and transfers. The broker also has anti-fraud systems in place for their bonus programs to guard against repeated fund transfers.
What you must understand
Roboforex provides forex and CFD trading as two options. On the Roboforex trading platform, the products and assets that are available to you depend on where in the world you are and with whom you have an account.
You must make a $1 minimum deposit with Roboforex. You can open a demo account to get familiar with the Roboforex platform.
Whether you are an expert trader or a novice, Roboforex can handle all trading experience levels.
The safety of Roboforex
The administrative structure and regulatory standing of the broker are crucial factors to consider when selecting a broker like Roboforex. Brokers that work independently from a regulating body do so at their own discretion. Your investment capital is at danger.
Roboforex has been in business since 2009 and has a corporate office in Cyprus.
Regulated is Roboforex. This indicates that the regulatory agencies of the Cyprus Securities and Exchange Commission (CySEC) oversee Roboforex and check its behavior.
Due to the regulations put in place, regulated brokers are very unlikely to manipulate market pricing. Roboforex will honor your withdrawal request that you submit. Roboforex may lose their regulated status if they break any regulatory regulations.
Deposits may not cover losses.
Is Roboforex safe for my money?
Any funds added by traders to their Roboforex accounts are kept in a separate bank account.
Roboforex uses tier-1 banks for this to increase security. The standard metric for assessing a bank’s financial health and soundness is Tier 1.
RoboForex Conclusion
A reputable online broker with a long history, RoboForex offers a large selection of assets on MT4 and R StocksTrader, among other trustworthy trading platforms.
Additionally regulated and offering negative balance protection, the broker gives traders an additional sense of security and trust.
Overall, RoboForex is a solid broker for all traders, but professional traders will find their zero-spread ECN accounts and RAMM platforms very appealing.
The copytrading service offered by CopyFX is comparable to that of eToro and other industry heavyweights.
Depositing and withdrawing cryptocurrency for non-EU clients demonstrates a demonstrated commitment to innovation and providing customers with various trading options.
Accepted Nations
Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and the majority of other nations are among those that RoboForex welcomes as traders.
From the United States, Canada, Japan, Australia, and the Russian Federation, traders cannot use RoboForex.
Substitutes for RoboForex
The top 5 brokers that are comparable to RoboForex are listed below if you’re looking for RoboForex alternatives. Only firms that permit traders from your location are included in this list of brokers like RoboForex, which is arranged according to how similar they are.
1.FP Markets is a multi-asset broker that provides a selection of trading platforms.
2.OctaFX – OctaFX provides mobile trading options and a variety of platforms for multi-asset trading.
3.FXCC – FXCC is a reputable trading broker that is subject to CySEC regulation. The brokerage provides zero commissions, leverage up to 1:500, and ECN transaction executions.
4.Pepperstone – Pepperstone allows both professional and retail traders to trade CFDs. On the MT4, MT5, and cTrader platforms, clients can trade FX, indices, commodities, and equities.
5.FBS – FBS is a reputable online broker that offers trading on MT4 and MT5 in a number of well-liked marketplaces. There are numerous account tiers and loyalty rewards available.
FAQ
RoboForex: Is it a fraud or not?
The International Financial Services Commission (AFSC) regulates RoboForex Ltd, a legitimate business with a Belizean registration and ID number of 000138/210.
It is therefore unlikely to be a fraud. Having said that, there are conflicting opinions on the broker on sites like Trustpilot.
How can I set up an account with RoboForex?
By selecting Open An Account from the menu on the right side of the website, you can create a legitimate account. To register your area login credentials, you will then need to fill out your new member information. The process will then be finished with the verification stage.
How do I delete my account with RoboForex?
You can deactivate your account from the members area. Change the status of the account you want to delete to “no” in the Account section.
Do US citizens have access to RoboForex?
No, US traders are not permitted to open a live trading account. Australian, Canadian, and Japanese customers are also prohibited from opening RoboForex accounts.
RoboForex: Market Maker or not?
RoboForex acts as the Market Maker for all Cent accounts. A STP model is used by the broker for all Standard and ECN accounts.