Roboforex Forex Broker

RoboForex came­ into being in 2009. This worldwide forex broke­r lets you access more than 12,000 tools in 9 diffe­rent asset classes. Trading can start at 0.01 lots with spre­ads that can even drop to zero pips, suiting varie­d trading demands, and the broker’s advance­d copy trading portal gathers a large group of intere­sted traders.

Pros

Roboforex Forex Broker offers commission-free trading on US stocks, a choice of premier platforms like MT4 and MT5, ECN and Prime accounts with low fees, user-friendly robot builders for automated trading, diverse payment methods including PayPal, a VPS server ensuring uninterrupted 24/7 trading, two free monthly withdrawals, and low deposits for novice traders, providing a versatile and accessible trading experience.

Cons

RoboForex has drawbacks such as varying instruments and fees across platforms, a demo account with a 90-day expiration, and a comparatively average range of available currencies. These factors may pose limitations for traders seeking consistency and a wider selection of currency options.

Roboforex Review Summary

In summary, RoboForex stands out as a globally recognized online broker, offering a diverse range of trading instruments, competitive spreads, and innovative platforms. With a commitment to client protection through negative balance protection, Compensation Fund participation, and Civil Liability insurance, the broker prioritizes the safety of its users. The extensive educational resources, comprehensive customer support, and user-friendly deposit/withdrawal options contribute to a holistic trading experience. While varying commissions for withdrawals exist, the broker’s Free Funds Withdrawal program adds value. RoboForex’s regulatory compliance and technological advancements make it a reputable choice for traders seeking a reliable and feature-rich trading platform.

Roboforex key characteristics

RoboForex stands out with competitive spreads and commission pricing, particularly in comparison to brokers like FBS and FXTM. The Pro-Cent and Pro-Standard accounts feature fees included in spreads, averaging approximately 1.4 pips for EURUSD, 1.75 for US indices, and around 22 for XAUUSD (Gold). Prime and ECN accounts offer even tighter spreads, with zero pip spreads available in some asset classes.

Security is a priority, with all RoboForex platforms utilizing SSL encrypted systems and dual-factor authentication protocols. Additional protection measures include SMS confirmation codes for withdrawals and transfers. The broker implements anti-fraud systems for bonus programs, safeguarding against unauthorized fund transfers.

RoboForex’s commitment to offering competitive pricing, diverse leverage options, robust mobile trading solutions, and stringent security measures positions it favorably in the market, appealing to traders seeking a comprehensive and reliable trading experience.

Supported Countries

RoboForex extends its services to traders from a diverse range of countries, including Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and numerous others. This global reach enables traders from various regions to access RoboForex’s offerings, fostering a broad and inclusive trading community.

However, there are certain geographical restrictions, and traders from the United States, Canada, Japan, Australia, Russian Federation, Brazil, Indonesia, Iran, Turkey, Austria, Belgium, Bulgaria, Croatia, Cyprus, Germany, Estonia, Finland, France, Greece, Israel, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Sierra Leone, Spain, Sweden, and Switzerland cannot utilize RoboForex’s services.

This delineation ensures compliance with regulatory requirements and reflects the broker’s commitment to maintaining a secure and compliant trading environment. Additionally, traders utilizing RoboForex benefit from support in multiple languages, facilitating effective communication and assistance for a diverse international clientele. The broker’s commitment to inclusivity and language support contributes to a user-friendly experience for traders worldwide.

Customer Service Rating

On the Trustpilot portal, RoboForex boasts a commendable customer service rating of 4.2 stars out of 5, based on 371 reviews. This positive rating signifies a high level of satisfaction among users who have experienced the broker’s customer support services. The „Great“ rating reflects the overall positive sentiment regarding RoboForex’s responsiveness, assistance, and effectiveness in addressing user queries and concerns. The substantial number of reviews adds credibility to this rating, highlighting the broker’s commitment to providing a satisfactory customer experience for the trading community.

Trading information

RoboForex provides a comprehensive range of trading options and bonuses for users. The broker offers three demo accounts—Demo Pro, Demo ECN, and Demo R StocksTrader—available on all platforms. The Demo Pro account, mirroring standard account conditions, features a maximum leverage of 1:2000 and floating spreads from 1.3 pips, enabling users to test strategies without financial risk. The practice accounts are free and expire after 90 days.

Roboforex trading platforms

RoboForex provides a versatile array of trading platforms to cater to the diverse needs of its users:

MetaTrader 4 (MT4):

• MT4 is a robust platform suitable for beginners and advanced traders.
• It offers 50 indicators for technical analysis, basic graphical tools, and three order execution types.
• Users can program their own trading robots with StrategyQuant and benefit from one-click trading.
• The platform is available as a downloadable desktop client or a webtrader accessible from a browser.

MetaTrader 5 (MT5):

• MT5 is a cutting-edge platform designed for professional traders.
• It features netting and hedging capabilities, Market Depth, four types of order execution, six types of pending orders, and numerous technical indicators and graphical tools.
• Similar to MT4, it is available as a downloadable desktop client or a web-browser version.

R StocksTrader:

• RoboForex’s proprietary platform, R StocksTrader, offers an easy-to-use interface and convenient trading for global market investors.
• Users can access 13 technical indicators, nine graphical tools, Level II Market Depth, and an automated strategy tester.
• The platform supports both netting and hedging account models and is available as both a web-platform and a desktop application.

R Trader:

• R Trader, available as a web-platform and desktop application, allows for real stock trading in addition to CFD trading.
• Traders can own assets outright and gain live access to Nasdaq listings.
• The platform provides flexibility by offering the option to trade shares via traditional methods or through CFD derivatives.

CopyFX:

• CopyFX facilitates copy trading for RoboForex customers, allowing them to follow and replicate successful traders.
• Traders can find profitable counterparts based on trading history, assess performance, and set up alerts or signals.
• The CopyFX Profibot system is particularly popular, offering flexibility for followers when copying trades.

These platforms demonstrate RoboForex’s commitment to providing a diverse and comprehensive trading experience, encompassing various tools and features suitable for traders of different skill levels and preferences.

Roboforex Trading Account Types

RoboForex offers a diverse range of live trading accounts, catering to the needs of different traders. Here is an overview of the available account types:

Prime Account:

Designed for professional traders seeking competitive spreads, the Prime account features spreads from zero pips.

It offers advanced trading conditions and is suitable for those requiring precision in their trading strategies.

Minimum deposit: $10 USD/EUR.

ECN Account:

Tailored for professional traders, the ECN account provides spreads from zero pips, ideal for those requiring tight spreads.

It offers fast order execution and is suitable for high-frequency trading.

Minimum deposit: $10 USD/EUR.

R StocksTrader Account:

This account is designed for traders interested in multi-asset stock trading.

Requires a slightly higher minimum deposit of $100 USD.

Ideal for those looking to diversify their portfolio with stocks alongside traditional CFD trading.

Pro-Cent Account:

Geared towards beginners and casual traders, the Pro-Cent account allows for smaller trading volumes and reduced risk.

Minimum deposit: $10 USD/EUR.

Offers access to various bonuses.

Pro-Standard Account:

Similar to the Pro-Cent account, the Pro-Standard account is suitable for beginners and casual traders.

Minimum deposit: $10 USD/EUR.

Provides access to bonuses, making it an attractive option for those seeking additional trading incentives.

Key Differences Between Accounts:

• The main distinctions among the accounts lie in minimum margin requirements, leverage limits, margin call/stop-out levels, and access to bonuses.
• Both Pro-Cent and Pro-Standard accounts offer access to bonuses, whereas the R StocksTrader account does not provide bonuses.
• Islamic swap-free accounts are available for traders adhering to Sharia principles.
• Investment solutions are facilitated through CopyFX and RAMM platforms, supporting both short-term and long-term trading strategies.

General Account Information:

• Minimum deposit for most accounts: $10 USD/EUR.
• Accessible directly from the RoboForex homepage.
• Real-money trading accounts allow users to participate in live markets and implement various trading strategies.

These account options demonstrate RoboForex’s commitment to providing a flexible and inclusive trading environment, accommodating traders with varying experience levels and preferences.

Trading Denominations on Roboforex

RoboForex offers a diverse range of trading instruments, providing clients with access to over 40 currency pairs, including major, minor, and exotic pairs. In addition to forex, clients can trade over 12,000 global stocks, encompassing a broad spectrum of companies. The broker also supports trading on more than 10 indices, such as the Dow Jones (US30) and NASDAQ, offering exposure to global market trends. Furthermore, clients can engage in trading over 100 commodities, including oil, and explore opportunities in Exchange-Traded Funds (ETFs). This extensive selection allows traders to build diversified portfolios and participate in various financial markets.

Tradable Assets on Roboforex

RoboForex offers a comprehensive range of tradable assets, showcasing a diverse selection of financial instruments for traders. Here is an in-depth overview of the assets available on the platform:

Forex Trading:

• Trade over 30 currency pairs with competitive spreads, starting from 0 pips.
• Forex traders have the flexibility to choose from leading platforms such as MT4, MT5, and an in-house web trader.
• The CopyFX system enables users to replicate the trades of experienced currency traders with a minimum investment of $100.

Crypto Trading:

• Access a robust selection of 26 cryptocurrencies as well as crypto-indices, a unique product facilitating trading on multiple cryptos simultaneously.
• All cryptocurrencies are available as CFDs, providing flexibility and convenience for traders.
• Crypto CFDs are traded paired with the USD and EUR on the user-friendly R StockTrader platform.
• New users can easily start trading crypto CFDs in three simple steps.

Stock Trading:

• Engage in real stock trading by purchasing equities or opt for trading via CFDs with Direct Market Access (DMA) to the NASDAQ.
• Thousands of shares are available for trading, offering ample opportunities for investors.
• The free robot builder tool allows users to automate trading strategies, enhancing efficiency and flexibility.

CFD Trading:

• Trade an extensive selection of over 12,000 CFDs, covering a wide range of assets.
• Benefit from very high leverage, reaching up to 1:2000, providing traders with increased capital efficiency.
• Micro lot trading is available, catering to both experienced and novice traders.
• Access to interbank liquidity providers ensures competitive fees and a dynamic trading environment.

RoboForex impressively offers a unique product lineup, including crypto-indices for diversified cryptocurrency trading. The platform’s commitment to user-friendly interfaces, a wide range of assets, and innovative tools like the free robot builder contribute to a comprehensive trading experience. It is worth noting that detailed contract specifications for all assets can be found on the broker’s website, ensuring transparency and clarity for traders. This depth of product offerings positions RoboForex as a versatile and competitive choice for traders looking to explore various financial markets.

Deposits

RoboForex provides a diverse array of funding methods for traders, ensuring flexibility and convenience in depositing funds. Below is a table outlining the available payment methods, along with key information:

Payment Method	Currencies Accepted	Minimum Deposit	Processing Time	Fees
Visa	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
iDeal	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Trustly	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Neteller	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Skrill	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Giropay	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Sofort	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Wire Transfer	USD, EUR, GBP, ZAR	$10 USD/EUR	1-3 business days	Free for deposits ≥ $500
Rapid Transfer	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Alipay	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
POLi	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Perfect Money	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
MoneyGram	USD, EUR, GBP, ZAR	$10 USD/EUR	1-2 business days	Free for deposits ≥ $500
Cashu	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
SafeCharge	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
WeChat Pay	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
Vietcombank Transfer	USD, EUR, GBP, ZAR	$10 USD/EUR	1-2 business days	Free
ADVcash	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
ecoPayz	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free
AstroPay	USD, EUR, GBP, ZAR	$10 USD/EUR	Instant	Free

Notably, all deposit methods are free, and the majority require a minimum deposit of $10 USD/EUR for standard accounts. The absence of fees, coupled with a variety of international and local options, contributes to a seamless and cost-effective funding process for RoboForex users. However, it’s important to note that PayPal is not accepted as a deposit method with this broker.

Withdrawals

RoboForex offers a variety of withdrawal methods for traders, providing flexibility and efficient processing. Below is a table outlining key details:

Withdrawal Method	Withdrawal Time	Commission
Visa	1 day	2.8%
Neteller	1 day	2.0%
Skrill	1 day	1.8%
Bank Transfer	1-3 business days	0.5-2.5%, depending on the bank
Rapid Transfer	1 day	2.0%
Alipay	1 day	2.8%
Perfect Money	1 day	1.8%
WeChat Pay	1 day	2.8%
MoneyGram	1-2 business days	2.8%
SafeCharge	1 day	2.8%
Vietcombank Transfer	1-2 business days	2.8%
ADVcash	1 day	2.0%
AstroPay	1 day	2.8%

Most withdrawal methods boast a swift processing time of 1 day, earning positive reviews from customers in 2023. Commissions for withdrawals range from 0.5% to 2.8%. Notably, RoboForex offers a Free Funds Withdrawal program, allowing two fee-free withdrawals per month. Users are advised to refer to the website for additional details and any potential restrictions associated with the Free Funds Withdrawal program.

Roboforex trading education and training

RoboForex provides an extensive educational suite for traders, catering to various skill levels. The resources include how-to guides, on-demand videos, forex analysis, and a community forum. Notably, the RoboForex Analytics center offers a free subscription to analytical data and trading instruments in a user-friendly layout, accessible in 13 languages. This feature provides valuable insights through signals, videos, calendars, and tools, creating a comprehensive learning environment for traders. The diverse educational resources empower users with the knowledge and tools needed to enhance their trading skills and make informed decisions in the financial markets.

Roboforex License and Regulatory Compliance

RoboForex Ltd operates under regulatory oversight, being regulated by the Financial Services Commission (IFSC) of Belize. The forex trading broker holds license No. 000138/437, with registration number 128.572. Additionally, as an “A” category member of the Financial Commission, RoboForex participates in the Compensation Fund, providing protection up to €20,000 per case. The company also emphasizes its commitment to client protection through Civil Liability insurance and the provision of negative balance protection. This regulatory compliance and commitment to safeguarding clients contribute to positioning RoboForex as a legitimate online forex broker within the financial industry.

Customer Support

RoboForex offers customer support through various channels, ensuring accessibility for traders. Users can reach out to the support team via email, phone, or the live chat feature on the official website. The support is available 24/7, providing assistance with inquiries, technical issues, and account-related concerns. The broker emphasizes prompt and effective communication, aiming to address client queries in a timely manner. Additionally, the comprehensive Frequently Asked Questions (FAQ) section on the website offers valuable self-help resources, enhancing the overall customer support experience for RoboForex users.

Roboforex customer protection

1. Negative Balance Protection:

RoboForex prioritizes client protection by implementing Negative Balance Protection. This means that traders cannot lose more than their account balance, preventing them from falling into a negative balance.

2. Compensation Fund Participation:

As an „A“ category member of the Financial Commission, RoboForex participates in the Compensation Fund. This fund provides an additional layer of protection for clients, offering compensation of up to €20,000 per case in the event of financial harm.

3. Civil Liability Insurance:

The broker holds Civil Liability insurance, further fortifying client protection measures. This insurance coverage can provide an added layer of financial security for clients in certain situations.

RoboForex’s multi-faceted approach to customer protection reflects a commitment to ensuring a secure and reliable trading environment for its clients. These measures mitigate risks and contribute to building trust between the broker and its user base.

How to open a Roboforex account

1. Visit the RoboForex official website.
2. Click on „Open Account“ or a similar button.
3. Fill in the required personal information, including name, email, and phone number.
4. Choose the account type and base currency.
5. Complete the identity verification process by providing necessary documents.
6. Agree to the terms and conditions.
7. Submit your application.

FAQ

Does Roboforex accept US clients?

RoboForex does not accept clients from the United States.

What is the Roboforex minimum deposit?

The minimum deposit at RoboForex varies depending on the account type but is generally around $10 USD/EUR for standard accounts.

Is Roboforex a trusted broker?

RoboForex is generally considered a trusted broker, regulated by the Financial Services Commission (IFSC) of Belize. Always conduct your own research and consider the latest information and user reviews.

Does Roboforex have withdrawal fees?

RoboForex may have withdrawal fees depending on the method used. It is advisable to check the broker’s official website or contact customer support for the latest details.

How much is the Roboforex commission fee?

Commission fees at RoboForex vary depending on the account type and the specific trading instrument. It is recommended to review the broker’s fee schedule on their official website for accurate and updated information.