RoboForex review by - TopAsiaFX

In the dynamic realm of the Foreign exchange industry, RoboForex emerges as an exceptional brokerage, prioritizing the needs of its clients with an impressive count of over 3 million live trading accounts.

Established in 2009, this widely recognized brokerage has successfully expanded its operations on a global scale, amassing a remarkable array of accolades and accomplishments along the way.

Headquartered in Belize, RoboForex operates under the regulation of the IFSC (International Financial Services Commission) with the esteemed license number 000138/210.

Furthermore, the brokerage extends a vast selection of trading instruments, boasting an impressive catalog of over 12,000 options. From investment platforms to trading platforms and an array of other floating assets, RoboForex caters to a diverse range of trading preferences.

Notably, RoboForex has forged significant partnerships, including an esteemed collaboration with BMW Motorsport Corp. Additionally, the brokerage has secured a long-term sponsorship contract with the indomitable Muay Thai fighter Andrei Kulebin, who currently holds the title of world kickboxing champion.

Amidst these remarkable endeavors, RoboForex presents an abundance of trading opportunities, a strong global presence, and trading solutions designed with the human element in mind. Furthermore, the brokerage entices traders with enticing bonuses, promotions, and a plethora of exciting features. Uncover all that awaits you!

RoboForex Pros & Cons

Pros

  • Wide range of tradable instruments
  • Multiple account types to suit different trading styles
  • Competitive spreads and transparent fee structures
  • Strong regulatory oversight
  • Robust customer support services
  • Comprehensive educational resources

Cons

  • Limited availability of certain account types in specific regions
  •  
  • No proprietary trading platform

RoboForex Account Types

Accounts Currencies Min. deposit Leverage Starting Spreads Demo Account Rollover Free Decimal Pricing Commission per trade Max. Lot Size Per Trade Min. Lot Size Per Trade
Prime Account USD, EUR, GOLD $10 USD / 10 EUR 1:300 Floating from 0 pips Yes Yes Yes 500 Lots 0.01 Lots
ECN Account USD, EUR, GOLD $10 USD / 10 EUR 1:500 Floating from 0 pips No Yes Yes 500 Lots 0.01 Lots
R StocksTrader Account USD, EUR, GOLD $100 USD 1:500 from 0 Yes Yes 15 USD per 1 million base currency No limitations 0.01 USD
ProCent Account USD, EUR, GOLD $10 USD / 10 EUR 1:2000 Floating from 1.3 pips No Yes Not available 1000 Lots 0.1 Lots
Pro Account USD, EUR, GOLD $10 USD / 10 EUR 1:2000 Floating from 1.3 pips Yes Yes Not available 500 Lots 0.01 Lots

Account Options

Broker Type Minimum Deposit Forex Majors Spread Maximum Leverage Min. Trade Size Scalping Hedging Free Demo USA Traders
STP $10 0.0 2000:1 0.01 lot Yes Yes Yes No

RoboForex Trading Platforms, Fees & Regulation

When it comes to trading platforms, RoboForex literally comes top of the list with their wide range of trading platforms which obviously includes:

  • MetaTrader4
  • MetaTrader5
  • cTrader
  • R Trader

 

Let's break it down in a bit…

Mobile Trading:

RoboForex is now providing mobile trading opportunities to traders across the globe. As for mobile trading, they are rendering access to all of their trading platforms including MT4, MT5, cTrader, and R Trader.

And... it gets even BETTER!

The mobile trading platform is available for both android and ios devices. Apparently, to use the platform, you've to first download it from the google play store or app store and then access it with the Live server of RF.

Moving on, You can experience the whole functionalities of MT4 and MT5's desktop versions in the mobile trading app.

As for the cTrader, you'll be able to access several tools and basic functions such as pinch to zoom, in-app notification, filing scrolling, and much more!

The same goes for the R Trader mobile platform as it provides all in one solution along with 14+ trading indicators, live charts-quotes, and multi-language( up to 22 languages) support.

Source: 55brokers.com

The MT4 trading platform is probably the most flexible and easy-to-use trading platform out there.

It will give you access to use your personalized EA's, 50+ trading indicators, basic graphic tools, advanced charts, market trends, and much more!

On the other hand, the MT5 is available for all traders and it is known as the next-gen platform through its prominence performance and speed accuracy.

In the MT5 you'll be getting 4+ order execution, more than 6 types of pending orders, various trading indicators, hedging capabilities, trends, and much more!

Also, RoboForex also renders one of the most innovative and smart trading platforms of the current time "cTrader".

The platform comes with 54+ trading indicators along with 14+ time frames. The platform is compatible with both mobile and pc.

However, RoboForex also offers a very specific trading platform “R Trader”  that is exclusive to only the users of RF. The platform comes with a classic and user-friendly interface along with action-packed features.

It offers 13+ inbuilt indicators, 9+ trading graphs, market depth (pt. 2), automated trading, netting-hedging, and much more! Moreover, the platform is available on pc and mobile devices.

Regulation
  • ( IFSC )
Fees
  • Yes
Platforms
  • MT4, MT5, cTrader

RoboForex Top Features

RoboForex is not only known worldwide for its safe and secure trading environments, there's more to it than meets the eye!

As they also offer a wide range of market assets to trade on especially they offer 26+ cryptocurrencies which are undoubtedly impeccable compared to other brokers.

FX/Currencies Roboforex IG XTB
# of forex pairs offered 32 90 48
Major forex pairs
Minor forex pairs
Exotic forex pairs
Cryptocurrencies*
Commodity CFDs      
# of commodities offered 0 34 21
Metals
Energies
Agricultural
Index & Stock CFDs      
# of stocks offered 0 8000 1606
UK shares
US shares
German shares

However, you'll be given access to:

  • Forex: You'll be eligible to trade on more than 40+ currency pairs including the exotic pairs.
  • Metals: Availability of precious metals including gold, silver, platinum.
  • Energies: Availability of widely traded energies like oil, ETFs.
  • Stocks: You'll be able to experience 12,000 global major stocks shares.
  • Commodities: You'll be able to trade on more than 100 commodities.
  • Indices: You'll be able to trade on more than 10 indices including the tremendously popular NASDAQ along with Dow Jones (US30).

Besides, to know more about these awesome features provided by RoboForex, you can visit their official website.

RoboForex Compliance & Regulation

RoboForex Ltd. is a brokerage company that is regulated by the International Financial Services Commission (IFSC) under license number 000138/210. This regulatory oversight ensures that RoboForex operates within the guidelines and regulations set by the IFSC.

Additionally, as a part of the IFSC's compensation fund, RoboForex Ltd. is obligated to provide financial protection to its clients. In the event of any legal case or claim against the company, they are required to pay a minimum of €20,000 to the affected party.

It is important to note that regulation and participation in a compensation fund provide some level of assurance and protection for clients, as they establish certain standards and requirements that the brokerage company must adhere to.

RoboForex Service Details

Supported Languages English
Customer Service By Live Chat, Email
Service Hours 24/7
Email Response info@roboforex.com

RoboForex Trading And Investment Tools

One Click Trading Yes
Stop Order Yes
Limit Order Yes
Trade off Charts No
Market Order Yes
24hr Trading Yes
Email Alerts Yes
Trailing Stop Order Yes
Charting Package Yes
Mobile Alerts Yes
OCO Orders Yes
Streaming News Feed Yes

RoboForex Pricing

RoboForex preliminarily renders 5 types of trading accounts to the retail market traders. Which goes as follows:

The Prime accounts, ECN accounts, R Trader, Pro-Cent, and last but not least Pro-Standard accounts. Anyways, just so you know these accounts require fewer deposit amounts compared to other brokers like Exness, HotForex, and Tickmill.

And as per the minimum deposit amount, it is $10 for most of the accounts provided by RoboForex except the R Trader trading accounts which of course requires a minimum deposit amount of $100 to start trading and which is without a doubt quite low.

For a better overview:

Source: 55brokers.com

You get the idea, right?

Anyways, here’s the account opening procedure at a glance:

Source: topratedforexbrokers.com

Moving on, if you're a professional market trader then the ECN and Prime accounts are forged specially for you. The accounts provide zero pips along with multi-asset trading. So, which ones are BEST for beginners or novice traders?

It's the Pro-Cent and Pro-Standard trading accounts which are ready to go at any time, just give the call.

Anyways, the primary difference between each account is probably margin and leverage. Also all the exciting trading bonuses are available only on the Pro trading accounts.

RoboForex also provides Islamic swap-free trading accounts for all Muslim traders across the globe. Not only that, you'll be getting strategic and investment solutions using their digitalized and innovative RAMM platforms for both short-term and long-term trading procedures.

Anyways, here’s the spreads of RoboForex which really stands out compared to other foreign exchange brokers.

Forex Roboforex City Index XTB
EUR/USD
(Average: 0.7 pips)
1.3 pips 0.7 pips 0.1 pips
GBP/USD
(Average: 1.1 pips)
1.3 pips 1.7 pips 0.1 pips
USD/JPY
(Average: 1.1 pips)
1.6 pips 0.6 pips 0.1 pips
AUD/USD
(Average: 0.8 pips)
1.6 pips 0.6 pips 0.2 pips
USD/CHF
(Average: 2.3 pips)
2.0 pips 2.3 pips 0.2 pips
USD/CAD
(Average: 2.9 pips)
1.5 pips 0.5 pips 0.3 pips
NZD/USD
(Average: 3.6 pips)
1.2 pips 2.8 pips 0.3 pips
EUR/GBP
(Average: 2.4 pips)
1.0 pips 0.5 pips 0.1 pips

In addition, the leverage rate of RoboForex differs while judging the account types.

As a result, the Pro-cent and standard trading accounts offer a 1:2000 leverage rate, on the other hand, the Prime and R trader accounts render a leverage rate of 1:300. As for the ECN accounts, it's 1:5000.

Deposits and Withdrawals

If it ever comes to providing a wide range of transaction methods, RoboForex is no exception.

The broker offers more than a dozen transaction methods along with the compatibility of 9 different currencies to choose from while making a deposit.

For making deposits they permit local and international banks, card payments, cryptocurrencies (for non-EU clients only) , electronic wallets, and much more!

Note: RoboForex doesn't allow Paypal therefore you won't be able to deposit with PayPal and the minimum deposit amount is $10.

Moving on, the withdrawal process can be a little bulky sometimes as it can take more than 48 hours on various occasions. But it's not always like that though!

You'll be getting up to 13 transaction methods for placing a withdrawal including cryptocurrencies (non-EU clients only). As per the commissions, it varies between 0.5% to 2.8%.

Note: RoboForex offers a free fund withdrawal program where you'll be able to withdraw money without any commissions but only twice a month.

Deposit Methods

Withdrawl Methods

FAQ Section

RoboForex User Experience

Customer Support

Reliable customer support is a must-have feature for a brokerage company in order to stay at the top of the race. Bearing that in mind, RoboForex also fabricated a 24/7 superactive customer support protocol.

  • Email address: info@roboforex.com
  • Phone:+65 3158 8389

The customer support of Robo comes with multi language support (more than 12 languages) including Arabic, English, Indonesian, Spanish, Malaysian, i.e.

Moving on, the physical head office of RoboForex is situated at 2118 Guava Street, Belize City.

Research and Education:

Forex education materials are a great way to find your way through this unstable and volatile trading industry. As it can help you to stay up to date with a lot of things.

RoboForex gets that significance quite well!

As a reason, they have fabricated a committed learning center where you'll find out numerous webinars, blog posts, analysis, trading tips, guide books, video tutorials, and whatnot!

It is well organized and also made in using a user-friendly perspective. So, the beginners could get a hold of everything that's been going on!

Conclusion:

RoboForex is a reputable and customer-centric online broker that offers a wide range of trading services to clients worldwide. With its advanced trading platforms, diverse account types, competitive trading conditions, strong regulatory framework, and dedicated customer support, RoboForex has positioned itself as a reliable choice for traders of all levels of expertise.

Whether you are a beginner looking to enter the world of trading or an experienced trader seeking a reliable broker, RoboForex provides the necessary tools, resources, and support to help you succeed in the financial markets.

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User Reviews

Our User Reviews Section is a great way to learn more about our brokers and services from people who have already used them. We encourage our customers to leave honest feedback about their experiences, so that you can make an informed decision about whether or not to purchase from us.

Tshepo Radebe

| Nigeria

Impressive Execution Speed

Execution speed surprised me. Trades happen instantly with no lag. Their platform is user-friendly, and the variety of trading instruments, including crypto, keeps it exciting.

3

26 Aug, 2024