RoboForex Review 2023: Everything You Need To Know!
At RoboForex, users in different markets are assured of a seamless trading experience. It is currently servicing international Forex investors, and over a million traders have opened a demo account with the platform. RoboForex provides its clients with the best promotional offers in financial markets. The broker has a global presence, delivering tailored solutions from copy trading to crypto deposits; RoboForex meets the needs of its customers.
|Headquarters||Belize City, Belize|
|Product offered||Forex, CFDs Stocks, Indices, ETFs|
|Minimum Initial Deposit||10 EUR/USD|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Withdrawal fee||Depends on the Payment Methods|
|Supported currencies||EUR, USD, JPY, & More|
|Customer Support||24/7 Support, Email, Phone, & Live Chat|
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Once the client opens a Demo Account at RoboForex, they can avail themselves of a host of lucrative offers such as trading robots and trading signals. The HQ of the Forex platform is at 2118 Guava Street, Belama Phase 1 Belize City. It was established and introduced to CFD and Forex investors in the year 2009. Since its introduction into the market RoboForex has had an upwards trajectory in the forex expanse and is currently servicing 1,000,000 business associates.
RoboMarkets Ltd is the official sponsor partner of the automobile brand BMW M Motorsport. RoboForex has USD, EUR, and other market currency offerings on its platforms. With regards to its regulation, it is authorized by the International Financial Services Commission Belize (IFSC), making it a reliable financial markets platform. RoboForex allows copy trading leveraged market exchange strategies for the consumers’ benefit. It offers Demo Accounts to users in Micro, Mini, Standard, ECN, and Islamic Funding Methods. For users of asset classes at RoboForex, there are tighter trading spreads with zero pip valuations. In addition, the maximum leverage offered is at 1:2000 for all major asset classes.
The trading platforms offered to the user are MetaTrader 4, MetaTrader 5, cTrader, and rTrader. RoboForex is a technically automated market exchange. The spreads, trading fees, platforms, and trading features are what make RoboForex an enticing offer to global brokers & a choice that traders would prefer.
RoboForex provides host market services that employ trading robots service functionalities. We’ll review RoboForex for its products and services. Read the facts you must know in this RoboForex review before you begin online trading. We’ll also review RoboForex for its features, app, and mobile trading.
What Is RoboForex?
RoboForex Ltd was launched in 2009. Since its introduction into the Forex broker market, RoboForex has been providing trading services on a global scale. Its head office is located at 2118 Guava Street Belama Phase 1 Belize City. Currently, RoboForex has clients in the EU and EEA countries that are very active in trading assets.
Many reviews have positive views of the features of the platform. The RoboForex offers the R Trader platform, an excellent trading ecosystem, for a host of trading styles for investors. RoboForex also won the Best Partners Programme at the GLOBAL FOREX AWARDS in 2022.
Furthermore, advanced trading is available on the cTRader and the R Trader trading options. The client gets to select from a host of trading instruments for optimal outcomes. It also offers customers trading solutions through the feature “ContestFX.”
With this, Forex investor can create an authentic trading account and jump-start their foreign investment ventures. When clients deposit their trading accounts, the commission is always 0%. RoboForex covers all expenses. The clients can choose one of the most popular trading platforms in the industry and install it on their PCs or mobile devices.
Features of RoboForex
In this RoboForex review, get to know the Features of the forex brokers:-
- Market Makers in RoboForex have the ability to trade with a minimum deposit and have no commission trades.
- At RoboForex, there are more robust trading spreads from 0 Percentage In Point (PIP) depending on the unique trading conditions.
- The types of order execution are accelerated on the RoboForex platform.
- RoboForex offers currency pairs of EUR USD CNY and commodities like Gold.
- When traders open an account on RoboForex, they are provided with access to 8 trading asset classes and multi-asset features.
- The share size for micro account holders is min 0.01.
- RoboForex profits users with a “partners affiliate scheme.”
- RoboForex provides Copy Trading assistance for currency pairs and commodities.
As per the RoboForex reviews, the broker provides you with the following services:-
Cash Back Rebates
At RoboForex, the money obtained by the cashback rebates feature is permitted to be exchanged according to the users’ needs.
Since rebates are not bonuses at RoboForex, the client can utilize this offering for the benefit of leveraging their exchange accordingly.
10% Account Limit
There is a possibility of up to 10% additional funds at RoboForex.
According to the trading conditions, the user can enhance their trading volume credits. The payout is 2.5% or 1 to 10 lots and 5% for 10 to 1,000 lots.
The VIP client service of this Forex broker is only permitted to users that have a particular cumulative result of money on their exchange accounts. The VIP service comes with high-leverage trading opportunities and lucrative cashback offers.
Free VPS Server
The cashback rebates offered in the VIP program of RoboForex are up to a 40% payout percentage. Moreover, there are no restrictions as there are VPS server accessibilities. With the VPS server conformities, a single exchange on RoboForex does not have any limits from the previous calendar month.
Last year, RoboForex launched the Sponsored VPS program for its clients working via MetaTrader 5 trading platform. The regular fee is USD 15 per month. Additionally, the user can access a private VIP manager to assist them with their trading pursuits.
Is RoboForex Regulated?
RoboForex is regulated by the International Financial Services Commission (IFSC) of Belize under permit number 000138/210. Platform regulation compliance is a grade “A” accredited branch of the Financial Commission.
RoboForex is an associate of the Compensation Fund facility that assures a grant of up to 20,000 Euros for each case respectively.
RoboForex Review: Pros and Cons
|RoboForex provides users with a plethora of trading instruments.||RoboForex has a moderate level of security features for financial partner firms.|
|An array of deposit and withdrawal payment facilities are available.||RoboForex doesn’t have many trading instruments to choose from on all the popular account types.|
|RoboForex has an accelerated sign-up process for account registration and demo accounts access.||RoboForex does not offer traders No Deposit Bonus (NDB) schemes.|
|High-Skilled trading conditions and exclusive automated exchange functionalities are provided at RoboForex.||There is no FCA regulation for RoboForex.|
RoboForex Account Opening Process
The first step to open an account or a demo account on RoboForex for a new account user is to register themselves in the Member’s Area. This specific Members Area gives traders an opportunity to review their account with RoboForex, check their account balance, select a specific account type or even opt for a pro account feature.
With log-in access into the Member’s Area of RoboForex, traders can handle their accounts, assets, and investments all in one place with seamless functionality. To open an account, the user needs to comply with IFSC verification checks.
Traders need to factor in their details like their email address, full name, and mobile phone number in the “Members Area” registration section of RoboForex. Additionally, all conformities of the trading site need to be complied with.
After this, the site verifies the traders’ identity and grants access to the trader to participate in the Forex exchanges and other investment trades taking place in the current markets.
Moreover, traders at RoboForex can select a fitting account type and the technical analysis they would require for their investment needs at this initial registration stage.
The trading RoboForex offers accounts like ECN account, Prime account, R Trader account, Pro-Cent account, and Pro-Standard account. At RoboForex, the minimum deposit for all account types is 10 USD EUR. With a Prime Account, the maximum leverage value increases up to 1:300.
However, in the case of the R Trader account, the min deposit is 100 USD. Even then, it is surprisingly low compared to other sites.
The C-Suite foreign exchange investors benefit from the ECN and Prime Trading Accounts. High-skilled traders benefit from these accounts as there are experienced insights and data from trading signals, spreads, and trading features such as zero pips. In the case of the R Trader account, the Forex platform favors a variety of stock asset services for exchanges. For the Pro-Cent and the Pro Account, novice traders having an account with RoboForex can benefit from its trading tools.
As per the RoboForex reviews, it also offers a Swap privatized account. Clients can open a fiscal exchange account from the RoboForex homepage and initiate an exchange in an active market.
RoboForex Trading Platforms
MetaTrader 4 is suitable for C-Suite high-skilled traders and novice traders as well. MetaTrader 4 has three varied types of order execution. It also has traditional notifications in the form of graphic insights and 50 technical indicators to choose from on the spot.
The RoboForex MetaTrader 5 is the most enhanced and high-skilled platform on the market. The platform is a mix of order initiations along with ambitious exchange strategies.
Additionally, MetaTrader 5 provides users various asset classes, multi-fiscal, money market insights, and six different order types for pending market orders.
The cTrader is suitable for Forex traders with advanced trading experience. This RoboForex platform executes trades at a faster pace.
RoboForex has Rare types of orders, second-level pricing, 54 technical signals, and 14-time frames for market exchanges with the cTrader platform.
The RoboForex R Trader account partners have the accessibility feature of their financial markets recorded in one individual platform. R Trader is a multi-asset web platform, which combines modern technologies, a classic but taken to a new level design, and access to the world’s major financial markets. With the multi-asset R Trader platform, users get the opportunity to take their market exchanges to a whole new level.
With the R Trader functionalities, users are not affected by hindrances such as software updates on their web browser for RoboForex. The rTrader platform has a seamless interface that is easy to operate. The initial deposit mandate at RoboForex for the rTrader platform is just $100.
Additionally, users can profit from 1:20 leverage according to the market conditions. With the rTrader platform, users are permitted to utilize the “Advanced” market exchange feature of the watchlists provided by RoboForex.
CopyFX is an investment platform for simple and short-term investment. The platform is a simple and convenient way to copy transactions. CopyFX traders have minimum deposit requirements that you must meet to copy their trades.
According to our RoboForex review, the user gets maximum credit leverage of 1:2000 in the Pro-Cent Account and the Pro-Traditional Account. For the traders’ ECN account functionality, the RoboForex maximum leverage is at 1:300. This leveraged offering is rendered to account holders of Prime and r Trader.
Traders need to be cautious that the CFD on leverage does not amount more than the accounts deposits on RoboForex. There is a high level of risk involved when trading leveraged products such as Forex/CFDs. 58.42% of retail investor accounts lose money when trading CFDs.
At RoboForex, the spreads are related to the account type that has been opted for on the platform. The spreads valuations are also very competitive in nature due to the FBS and FXTM broker facilities.
The spreads have an aggregate value exchange rate of 1.4 pips for EUR USD. For US trading alerts, it is at an exchange rate of 1.75, and the pips for commodities like Gold are about 22 pips.
As per the RoboForex review, it does not have any commission fees for traders’ account exchanges. The 0% trading fees leverage RoboForex offers are applied to all deposits and withdrawals.
Deposits & Withdrawals Options
Deposits at RoboForex
At RoboForex, there are no limits for payment methods. The money deposited to your RoboForex account via Skrill and NETELLER systems is transferred instantly without any commissions. The global and local bank deposit options accessible on RoboForex are card payments and e-wallets.
On RoboForex, the payment methods available to forex investors have a minimum compensation cost. The minimum conformity for deposits is 10 EUR USD for standard accounts. The local bank transfer payment method enables you to make fund transfers in the local currency directly from your bank account to your RoboForex Account. Main advantages include payments in a local currency, low fees, quick execution, high degree of security.
Withdrawals at RoboForex
The platform offers 13 withdrawal systems for customers. However, the limitations in withdrawals are dependent on the jurisdiction and governmental banking permits.
The process for withdrawals at RoboForex is just one day; this is great when compared to other forex brokers platforms. At this forex broker, the trading fees for withdrawals are between 0.5% to 2.8%. RoboForex offers a scheme called “Free Funds” for users. Click here for more details on its fee structure.
RoboForex Promotions & Bonuses
At RoboForex, clients of the Pro-Cent and Pro-Standard accounts are credited with a welcome bonus reward of $30. This RoboForex bonus comes with a minimum deposit of $10 through any bank card payment offering. To receive these bonus funds, the user needs to sign up with RoboForex.
The Standard and Cent clients have an added leverage of a Profit Bonus that is 60%. Additionally, clients of these accounts can credit up to 120% in the Classic Bonus scheme. You can deposit money in your trading account and receive a Profit Share Bonus for your first and all other deposits that follow.
Additionally, RoboForex offers up to 10% bonuses on the user’s trading account balances. Promotions such as the Contest FX for live trading and an unrestricted VPS server are also available to Forex investors on RoboForex.
Resources Offered by RoboForex
As per the fx brokers, the trading pips start from zero pips. You can have a leverage of up to 1:2000. The speed of forex trades is just up to 0.1 seconds. There are around 40 currency pairs to choose from, such as EUR, USD, JPY, and so on.
The min deposit for indices at RoboForex is only $10. RoboForex offers its clients access to some of the best conditions for trading stocks indices in the industry.
RoboForex Mobile Trading App
The RoboForex app has mobile trading options for users. The MT4 MT5, cTRader, and r Trader platforms are available on the mobile trading application.
Mt4 and Mt5 Mobile Trader on RoboForex
The mobile version of RoboForex has the same technical indicators and trading instruments as the desktop version. You can trade on your RoboForex accounts using web versions of the two popular trading platforms Mt4 and Mt5 terminals, from MetaQuotes.
Charting devices, complete exchange records, and permits to automated exchanges are provided on the platform.
cTrader Trading Platform on Mobile
The cTrader presents traders the options of zooming in through the pinch-zoom feature, scrolling options, double-tap functionalities for recent trading plans. Additionally, traders get in-app trading alerts as well.
R Trader Platform on Mobile
The R Trader application is a holistic feature with an added layer of protective measures for the applications’ deposits and rewards administration regularities.
As for the R Trader mobile application, the app has 14 trading indicators. Additionally, the app provides traders with active trading quotes, trading charts, and mobile-compliant features.
RoboForex Security Measures
As per the RoboForex review, it provides negative balance protection. In case the market volatility doesn’t allow the client to keep a positive balance on his/her trading account, RoboForex Ltd automatically tops up the balance to 0 and the client doesn’t have to pay anything for this. From the explanation of this negative balance protection on the RoboForex official site, it’s been said to be situations in the market due to volatility that would prevent traders from keeping their balance in the black. This makes RoboForex limited to reset balance to zero.
RoboForex Customer Support
The customer service team at RoboForex is committed to providing clients the assistance they require with attention and optimal solutions. The customer support at RoboForex is provided to business associates in 12 different languages, namely Arabic, English, Malaysian, and Spanish, to name a few.
The assistance from the customer support team is available 24/7 through email, social media, live chat features, and WhatsApp messages. The customer support team also has several positive reviews.
RoboForex Review: Our Verdict
RoboForex offers negative balance protection and a safeguarded network for traders. On the whole, the RoboForex trading platform is a suitable digital broker for all levels of Forex investors. The RAMM functionalities of the site are well aligned with the investment goals of C-suite traders. As per the RoboForex review, it also provides demo contests for users to review the website and be informed about the ongoing promotions taking place.
Is RoboForex Safe?
As per the RoboForex reviews, it is a well-protected site as it is governed and regulated by the International Financial Services Commission Belize (IFSC). The IFSC mandates of RoboForex are in compliant nature with the global AML conformities. Your funds are fully secured when you trade with RoboForex.
Is RoboForex a Good Broker?
The reviews of RoboForex confirm that the trader platform Robomarkets Ltd is the best among reliable forex brokers. The website’s functionalities are regulated by the International body of the European CySEC.
RoboForex commodities incorporate low-risk trading conditions in a Forex market. With these strategies, traders are assured that the company is legit and well-protected.
Is RoboForex an STP Broker?
Yes, RoboForex is a Straight Through Processing (STP) compliant broker. Due to the STP compliance, RoboForex provides a high level of liquidity profits to traders with no conflict of interest.
Moreover, traders at RoboForex have the opportunity of well-protected exchanges on all order types.
How Do I Claim My RoboForex Bonus?
For a trader to claim their RoboForex profit share bonus, they need to register on the site. The bonus assets are accessible for the traditional mt4 mt5 account types. The base currency permitted is USD EUR.
Does RoboForex Allow Scalping?
If you are going to scalp in RoboForex, you should open an ECN-PRO NDD account, as it has a number of advantages:-
- No Minimum Deposit.
- Floating spread from 0 points.
- No re-quotes.
- The leverage is 1:300.
- A Small Commission is $ 20 per 1 million USD of turnover.
When compared with the ECN-FIX SPREAD NDD with a fixed spread, the difference is obvious in favor of the ECN-PRO NDD account with a floating spread and Commission.
If you compare ECN accounts of other brokers, RoboForex has the best trading conditions for scalping. For example, in AMarkets, the minimum Deposit on an ECN account is $ 1,000. Not every novice trader can afford this amount.