Overall, RoboForex can be summarised as a trustworthy and highly regulated Forex Broker that provides excellent trading services. RoboForex offers access to top-tier customer support and has a trust score of 94 out of 99.  

RoboForex Review – Analysis of Brokers’ Main Features

1. ☑️ Overview
2. ☑️ Detailed Summary
3. ☑️ Safety and Security
4. ☑️ Account Types
5. ☑️ How To Open an Account
6. ☑️ Trading Platforms and Software
7. ☑️ Fees, Spreads, and, Commissions
8. ☑️ Which Markets Can You Trade?
9. ☑️ Leverage and Margin
10. ☑️ Deposit and Withdrawal
11. ☑️ Educational Resources
12. ☑️ Pros and Cons
13. ☑️ In Conclusion
14. ☑️ Frequently Asked Questions

 

Overview

By prioritizing providing excellent trading services, RoboForex has secured its position as a noteworthy player in the financial industry since its establishment in 2009. The firm’s clientele comprises novice and experienced traders who benefit from their diverse selection of trading platforms and products. Initially founded on an ambition to revolutionize trade markets through innovative solutions, they have successfully expanded into offering comprehensive options such as forex, stocks, commodities, cryptocurrency, and more.  

Detailed Summary

 

Are there any restrictions on the countries where RoboForex operates?

RoboForex works internationally and services customers from numerous countries, although there might be certain limits due to local rules.  

Can I trust RoboForex with my funds and personal information?

RoboForex is a registered broker that uses security methods such as customer money segregation, data encryption, and two-factor authentication to protect funds and personal information.  

Safety and Security

RoboForex is a broker that prioritizes the safety and security of its clients by adhering to strict regulations set by Belize’s International Financial Services Commission (IFSC). This regulatory framework ensures traders’ compliance with established norms and standards, providing additional protection. RoboForex’s licensing and regulation from reputable agencies ensure clients’ credibility and dedication to industry protocols. RoboForex employs segregated accounts that isolate customer funds from broker-operating funds to protect customer funds. This strategy ensures resources are secured against financial challenges and minimizes potential losses. The company also employs modern security mechanisms, such as SSL encryption, to protect customer data during transmission.  

Does RoboForex undergo regular security audits and assessments?

RoboForex regularly performs security audits and assessments by independent third-party businesses to guarantee the security infrastructure’s strength and compliance with industry standards.  

What measures does RoboForex take to protect against cyber threats and hacking attempts?

RoboForex uses modern cybersecurity technologies and processes to safeguard its servers and customer accounts from cyber threats like DDoS attacks, malware, and unauthorized access.  

Account Types

Prime Account

The Prime Account from RoboForex has been designed to cater to new and experienced traders by offering favorable trading conditions. With a mere $10 investment, traders can avail themselves of 28 FX pairs, spot metals, and several CFDs. Featuring floating spreads that start at 0 pips, the account levies a fee of $10 per million traded while providing market execution with leverage up to 1:300 and trade sizes ranging between 0.01 – 500 lots along with a stop-out capability of 100%. Furthermore, the account does not allow for Islamic swap-free options, although it offers cashback incentives instead of deposit bonuses.

ECN Account

For skilled traders seeking rapid order execution via an electronic communication network, RoboForex’s ECN Account is a fitting choice. It necessitates a minimum deposit of $10 and boasts numerous offerings, such as 36 forex pairs and CFDs. The spreads are flexible, with the starting point at 0.0 pips, but require a fee of $20 per million transacted. With market implementation, trading sizes begin from 0:01 lots while leveraged capabilities reach 1:500.  Although Islamic accounts are not available on this account type, bonuses, rebates, and no-fee withdrawals are enticing benefits that traders can enjoy directly upon opening their accounts,

R StocksTrader Account

The R StocksTrader Account by RoboForex caters to stock traders, granting them access to a customized platform supporting over 12,000 products. A minimum deposit of $100 is required to activate this account type, with commission structures varying based on asset class. For instance, US equities require deposits exceeding $10k at $0.009 per share. The leverage offered includes up to 1:300 for Forex and 1:20 for US equities, but its stop-out rate is 20%. This trading option does not permit Islamic swap-free transactions or cashback rewards, offers one-click trading functionality, or any trade history timeline feature.

ProCent Account

RoboForex’s ProCent Account suits people migrating from demo to real trading. It supports micro-lot trading with a minimum investment of $10 and provides 36 currency pairings, commodities, and cryptocurrencies. The account offers flexible spreads beginning at 1.3 pips and no commission. Traders can access leverage up to 1:2000 and manage deals ranging from 0.01 to 10,000 cent lots. The stop-out threshold has been set at 10%, with bonuses and rebates available. The account allows one-click trading and provides Islamic account choices.

Pro Account

The Pro Account offered by RoboForex targets a clientele of professional traders seeking trading platforms free from commission and boasting tight spreads. The account permits the initiation of trades with only a $10 capital investment while featuring fluctuating spread ranges commencing at 1.3 pips. Its array covers market execution functionality alongside substantial leverage capacity up to 1:2000 and tradable lots that begin at 0.01 and an expiry ratio set at 20%. Traders may also benefit through bonuses or cashback reward schemes while utilizing appropriate features for Islamic trade practices.

Demo Account

RoboForex provides a Demo Account, enabling inexperienced traders to familiarize themselves with trading conditions and platforms without facing financial jeopardy. This account simulates actual market scenarios utilizing virtual currency, thus facilitating practice on the MT4/5 and cTrader platforms, which offer leverage limits of as much as 2000:1. The demo period spans 90 days while presenting an impregnable testing environment for strategies across various financial instruments. While gains or losses are illusory, the acquired experience is vital for fortifying confidence levels while advancing proficiency in trading abilities.

Islamic Account

RoboForex provides a trading instrument known as the Islamic Account, catering to traders who adhere to Sharia-compliant principles. This account option is available for both penny and regular MT4 accounts. Implementing a predetermined commission ensures that no swap charges are incurred when positions roll over into subsequent days. The commissions charged vary depending on currency pairings and lot sizes but remain transparently established for all holders of this account type. All other general trading requirements remain intact while offering an opportunity in Forex markets strictly aligned with Islamic financial practices.  

What are the main differences between the different account types offered by RoboForex?

The key distinctions between account types are the minimum deposit requirement, leverage options, accessible trading instruments, and commission costs.  

Can I switch between different account types?

Yes, current RoboForex customers can request to alter account types by contacting the customer care service.  

How To Open an Account

• To register an account with RoboForex, follow these steps:
• Navigate to the RoboForex website and click the “Open an Account” option.
• Complete the electronic registration form with your personal information.
• Choose your preferred trading platform from the choices presented.
• Complete the Know Your Customer (KYC) process.
• Wait for the verification procedure to be completed.
• After your account is validated, you may be eligible for RoboForex’s “Welcome bonus”.
• Deposit money into your new RoboForex trading account.

 

Can I open a demo account before opening a live account?

Yes, RoboForex provides demo accounts, allowing traders to test their trading techniques and get acquainted with the platform before registering an account.  

What is the minimum deposit amount to open a RoboForex account?

The minimum deposit for a RoboForex account varies by account type; however, it can be as little as $10.  

Trading Platforms and Software

MetaTrader 4

MetaTrader 4 (MT4) is one of the leading trading platforms. Its intuitive user interface and extensive trading tools provide traders with diverse financial products to trade in, such as Forex, equities, indices, and commodities. With advanced charting features, automated trading options, and an exhaustive technical indicator library, traders stand to gain profitable returns from utilizing this comprehensive platform.  Additional support is provided through various order types that complement real-time market data, thus empowering informed decision-making when managing trades on MT4’s highly responsive system.

MetaTrader 5

RoboForex provides access to the MetaTrader 5 (MT5) platform, which enhances its forerunner’s success. MT5 offers advanced trading features such as new order categories and improved analytical tools. Furthermore, traders can leverage a broader range of financial products, including cryptocurrencies and ETFs, while benefiting from an expedited execution speed on this cutting-edge platform. Moreover, MT5 grants traders entry into a vast marketplace consisting of automated robots and indicators tailored toward them exclusively, allowing customization opportunities geared toward refined tactics to enhance their overall trading experience.

R MobileTrader

RoboForex acknowledges the paramount importance of mobile trading and, as such, has provided its esteemed clientele with R MobileTrader – a platform meticulously designed to cater to seamless financial transactions on handheld devices. This service allows traders access to their accounts while granting them the convenience of transacting in an array of financial instruments via smartphones or tablets. In addition, this innovative tool has features that allow real-time quotations, interactive charts, and a user-friendly interface, thereby empowering clients who can initiate trades and manage portfolio holdings while keeping abreast of market trends from any location at all times.

R StocksTrader

RoboForex offers R StocksTrader, a specialized platform tailored to stock trading. Through this solution, traders can access an array of equities sourced from global exchanges while leveraging real-time market data and robust charting tools alongside order management capabilities. Utilizing the streamlined experience offered by R StocksTrader enables traders to easily monitor key market trends, conduct trades, and effectively manage their portfolios for greater success.  

Can I access my RoboForex account through a web-based platform?

Yes, RoboForex offers a web-based platform called R WebTrader. It enables traders to access their accounts and trade straight from a web browser, eliminating the need to download or install software.  

Are there any fees or charges associated with using RoboForex trading platforms?

No, RoboForex’s trading platforms are free of fees and levies. Traders may use the platforms and conduct transactions at no extra cost.  

Fees, Spreads, and, Commissions

Spreads

RoboForex charges various spreads and costs that traders should consider while selecting their chosen trading account and instrument. The spread varies according to the account type and trading instrument used. For example, the EUR/USD spreads for Prime and ECN accounts may be as low as 0.0 pips, while the R StocksTrader account has spreads beginning at $0.01. The ProCent and Pro accounts have spread from 1.3 pips  

Commissions

In addition to spreads, traders will be charged commission costs based on the kind of trading account. The commission rate for ECN accounts is $20 per million traded, whereas Prime accounts pay $10 per million traded.  

Overnight Fees

Traders should be wary of overnight costs, rollovers, and swaps. These charges vary according to position size, market circumstances, and the financial instrument being traded. For instance, the overnight swap for EUR/USD is -0.679 points for long positions and -0.08 points for short positions.  

Deposit and Withdrawal Fees

RoboForex provides free deposits across payment methods. However, withdrawals come with costs. The costs vary according to the withdrawal method selected. For example, SEPA withdrawals cost 1.5%, local bank transfers might cost up to 4%, and AstroPay withdrawals cost 0.5%.  

Inactivity Fees

RoboForex does not state that inactive accounts incur an inactivity charge. However, traders should evaluate the terms and conditions for future modifications or revisions to the inactivity fines.  

Currency Conversion Fees

Currency conversion fees might be imposed when traders deposit money in currencies other than the base currency of their trading account. Traders should be aware of these costs and consider them before making deposits or withdrawals.  

What are the typical spreads for forex trading at RoboForex?

The spreads for forex trading at RoboForex vary based on the account type and currency pair being traded. However, they may start as low as 0 pips for certain account types.  

Do the spreads vary during different trading sessions?

Yes, RoboForex’s spreads might change between trading sessions, especially during moments of extreme market volatility or low liquidity.  

Which Markets Can You Trade?

RoboForex offers the following trading instruments and products:

• 40 currency pairings
• 12,000+ stocks
• global stock indexes
• 1,000+ exchange-traded funds (ETFs)
• 100+ commodities
• Precious metals
• Energy commodities

RoboForex offers trading options for 26 prominent cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.  

What is the minimum trade size for forex currency pairs at RoboForex?

The minimum trading size for forex currency pairs at RoboForex varies by account type. However, it may be as little as 0.01 lots (micro lots).  

Does RoboForex provide access to global stock markets?

Yes, RoboForex gives traders access to worldwide stock markets, enabling them to trade CFDs on equities from big firms listed on multiple international exchanges.  

Leverage and Margin

RoboForex provides traders with numerous leverage options, enabling them to expand their trading positions and boost their profit potential. RoboForex offers leverage ranging from 1:1 to 1:2000, depending on the account type and trading item being traded. This implies that traders may hold greater positions in the market with fewer funds. However, although leverage may increase earnings, it can also increase losses. Traders must be cautious and have a strong risk management plan in place. Margin is another important part of trading with RoboForex. It refers to the minimum quantity of money needed to initiate and sustain a trading position. The margin requirements at RoboForex vary according to the account type and trading instrument.  

What leverage options are available for trading at RoboForex?

RoboForex provides adjustable leverage choices ranging from 1:1 to 1:2000, depending on the account type and trading product.  

Are there any margin requirements for trading at RoboForex?

Yes, traders must fulfill RoboForex’s margin requirements to keep their positions. The margin requirements differ based on the account type and trading instrument used.  

Deposit and Withdrawal

Deposit Methods:

Bank Wire

• Log into your RoboForex account.
• Go to the “Deposits” section.
• Select “Bank Wire” as your deposit method.
• Follow the steps outlined, including entering the relevant bank information.
• Begin the transfer from your bank account to the specified bank account.
• Keep your transaction receipt for future reference.

 

Credit or Debit Card

• Log into your RoboForex account.
• Go to the “Deposits” section.
• Select “Credit or Debit Card” as your deposit method.
• Enter your card information, including the number, expiry date, and CVV code.
• Specify the deposit amount.
• Confirm the transaction.

 

e-wallets or Payment Gateways

• Log into your RoboForex account.
• Go to the “Deposits” section.
• Select “e-Wallets or Payment Gateways” as your deposit method.
• Select the e-wallet or payment gateway you want to use.
• Follow the instructions given by your chosen payment method.

 

Withdrawal Method:

Bank Wire

• Log into your RoboForex account.
• Navigate to the “Withdraw” section.
• Select “Bank Wire” as your withdrawal method.
• Enter the relevant banking information for the withdrawal.
• Determine the withdrawal amount.
• Confirm the withdrawal request.

 

Credit or Debit Cards

• Log into your RoboForex account.
• Navigate to the “Withdraw” section.
• Select “Credit or Debit Card” as your withdrawal method.
• Enter your card information, including the number, expiry date, and CVV code.
• Determine the withdrawal amount.
• Confirm the withdrawal request.

 

e-wallets or Payment Gateways

• Log into your RoboForex account.
• Navigate to the “Withdraw” section.
• Select “e-Wallets or Payment Gateways” as your withdrawal method.
• Select the e-wallet or payment gateway you want to use.
• Follow the instructions given by your chosen payment method.
• Determine the withdrawal amount.
• Confirm the withdrawal request.

 

Are there any fees for depositing funds into a RoboForex account?

RoboForex does not charge deposit fees, although certain payment providers may impose transaction fees.  

What is the minimum withdrawal amount at RoboForex?

The minimum withdrawal amount at RoboForex varies according to the payment method used. However, it is often about $10.  

RoboForex Educational Resources

RoboForex offers the following educational resources:

• Account opening and trading tutorials.
• Educational videos
• FAQ area

Traders can find information on connecting to trading accounts, fixing account-related difficulties, and accessing various trading platforms.  

Are the educational resources RoboForex provides suitable for both beginner and experienced traders?

Yes, RoboForex caters to traders of all levels of expertise, offering instructional tools that cover beginner trading ideas and sophisticated methods and analytical techniques for experienced traders.  

Does RoboForex provide personalized educational support?

Yes, RoboForex provides individualized instructional assistance via its customer support staff, which may help traders with any inquiries or issues about the training materials.  

Pros and Cons

 

In Conclusion

According to our findings, RoboForex is a reputed forex and CFD broker that provides various trading products, account types, and platforms to meet the various demands of traders. RoboForex’s dedication to security, regulatory compliance, and customer money segregation ensures a safe and secure trading environment.