RoboForex

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	Official Website
Leverage	1:2000
Minimum Deposit	$10
Regulation	IFSC
Year Established	2009
Payment Methods	Bank Transfer, Credit/Debit Cards, Skrill, Neteller, Perfect Money, WebMoney, PayPal
Trading Assets	Forex, Indices, Stocks, ETFs, Cryptocurrencies, Commodities
MT4	✅
MT5	✅
Spreads	Extremely Low
Average cost: EUR/USD	0.3 pips
Demo Account	✅
Islamic Account	✅
CopyTrading	✅
ZuluTrade	❌
Scalping	Yes
Signals	✅
EAs/Robots	Available
Negative Balance Protection	Yes
Deposit Fee	❌
Withdrawal Fee	❌
Contact Information	Email: [email protected], Phone: +501 223-2225
Address	2118 Guava Street, Belama Phase 1, Belize City, Belize
Rating	★★★★☆ 4.5
Website	Official Website

Alternative Brokers

Rank	Broker	Review
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2	XTB
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4	RoboForex
5	FBS
6	XM
7	JustMarkets
8	Markets.com
9	eToro
10	IC Markets

Pros and Cons

Comprehensive Review of RoboForex: A Detailed Analysis

RoboForex is a well-established online brokerage firm that has been providing trading services since 2009.

With its headquarters located in Belize, the broker operates under the regulation of the International Financial Services Commission (IFSC).

RoboForex is known for offering a broad range of financial instruments, including Forex, stocks, indices, cryptocurrencies, commodities, and ETFs, across various trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.

Their offerings are designed to cater to both novice and experienced traders, with a focus on providing high leverage, low spreads, and an extensive selection of trading tools.

This review aims to provide a comprehensive analysis of the company, covering aspects such as its regulatory environment, account types, trading platforms, fees, customer support, and more.

Whether you’re a beginner looking for a reliable broker or an experienced trader seeking advanced trading features, this review will help you understand what it has to offer.

Regulatory Environment and Security

Regulation

RoboForex operates under the regulation of the International Financial Services Commission (IFSC) of Belize.

The IFSC is a regulatory body responsible for overseeing financial services in Belize, ensuring that brokers comply with local laws and regulations.

However, it’s important to note that the IFSC is considered a less stringent regulator compared to those in more established financial centers like the UK’s Financial Conduct Authority (FCA) or the US’s Commodity Futures Trading Commission (CFTC).

While the IFSC provides a certain level of oversight, it may not offer the same level of protection as brokers regulated by more rigorous authorities.

Traders should be aware of this when choosing RoboForex, especially if they prioritize high regulatory standards.

Security of Funds

RoboForex places a strong emphasis on the security of client funds.

The broker segregates client funds from its operational accounts, ensuring that users’ money is not used for any purposes besides trading.

This segregation of funds is a standard practice among reputable brokers and adds an extra layer of security.

In addition to fund segregation, it offers negative balance protection, which ensures that traders cannot lose more money than they have deposited.

This is particularly important for users who use high leverage, as it protects them from incurring significant losses beyond their initial investment.

Account Types

RoboForex offers 6 account types to suit different trading needs and preferences.

Each account type is designed to cater to a specific group of traders, from beginners to professionals.

Below is a detailed overview of the available account types:

Pro-Standard Account

The Pro-Standard account is the most popular account type, designed for both beginners and experienced traders.

It offers:

• Minimum Deposit: $10
• Spreads: Floating spreads starting from 1.3 pips
• Leverage: Up to 1:2000
• Trading Instruments: Forex, metals, indices, stocks, cryptocurrencies, and commodities
• Commission: None
• Platform Availability: MT4, MT5, cTrader

This account type is ideal for those who prefer not to pay commissions on their trades and are comfortable with slightly wider spreads.

ECN Account

The ECN account is tailored for more experienced investors who require direct access to the interbank market.

Key features include:

• Minimum Deposit: $10
• Spreads: Floating spreads starting from 0.0 pips
• Leverage: Up to 1:500
• Trading Instruments: Forex, metals, indices, stocks, cryptocurrencies, and commodities
• Commission: $20 per million USD traded
• Platform Availability: MT4, MT5, cTrader

The ECN account offers lower spreads than the Pro-Standard account, but traders are required to pay a commission per trade.

This account type is suitable for people who need the tightest spreads possible, especially during high-volume trading.

Prime Account

The Prime account is designed for professionals seeking optimal trading conditions.

It offers:

• Minimum Deposit: $100
• Spreads: Floating spreads starting from 0.0 pips
• Leverage: Up to 1:300
• Trading Instruments: Forex, metals, indices, stocks, cryptocurrencies, and commodities
• Commission: $15 per million USD traded
• Platform Availability: MT4, MT5, cTrader

With its lower commission rates and tighter spreads, the Prime account is best suited for high-frequency traders and institutional clients.

R Trader Account

The R Trader account is a unique offering by RoboForex, combining the features of a trading platform and an investment account.

It provides access to over 12,000 trading instruments, including:

• Minimum Deposit: $100
• Spreads: Floating spreads starting from 0.01 pips
• Leverage: Up to 1:2000
• Trading Instruments: Forex, stocks, indices, ETFs, and cryptocurrencies
• Commission: Variable, depending on the asset class
• Platform Availability: R Trader web platform

The R Trader account is ideal for those who want to diversify their portfolios with a wide range of assets, including stocks and ETFs.

Pro-Cent Account

The Pro-Cent account is designed for beginners and those who want to test trading strategies in a live environment with minimal risk.

It offers:

• Minimum Deposit: $10
• Spreads: Floating spreads starting from 1.3 pips
• Leverage: Up to 1:2000
• Trading Instruments: Forex, metals, indices, stocks, cryptocurrencies, and commodities
• Commission: None
• Platform Availability: MT4, MT5

This account type uses cent lots, making it easier for new traders to get started without risking large amounts of capital.

Comparison of Account Types

Trading Platforms

RoboForex offers a diverse range of trading platforms to meet the needs of all types of customers.

The broker supports industry-leading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as the cTrader platform and its proprietary R Trader platform.

MetaTrader 4 (MT4)

MetaTrader 4 is one of the most popular trading platforms globally, known for its user-friendly interface and robust features.

MT4 offers:

• Ease of Use: Intuitive interface suitable for beginners and experienced traders alike.
• Charting Tools: Advanced charting tools with 30 built-in indicators, 9 timeframes, and various analytical objects.
• Expert Advisors (EA): Support for automated trading through Expert Advisors.
• Order Types: Market orders, pending orders, stop orders, and trailing stops.
• Mobile Trading: MT4 is available on iOS and Android, allowing people to manage their accounts on the go.

MT4 is ideal for traders who prioritize simplicity and ease of use, coupled with powerful trading tools.

MetaTrader 5 (MT5)

MetaTrader 5 is the successor to MT4, offering enhanced features and greater functionality.

MT5 includes:

• Additional Order Types: MT5 supports more order types than MT4, including buy stop-limit and sell stop-limit orders.
• Improved Charting: 21 timeframes and more advanced charting tools compared to MT4.
• Economic Calendar: Built-in economic calendar for tracking important events.
• Depth of Market (DOM): Provides insights into market liquidity and pending orders.
• Hedging and Netting: Supports both hedging and netting systems for trade management.

MT5 is suitable for people who need more advanced tools and features than those offered by MT4, particularly for multi-asset trading.

cTrader

cTrader is a powerful trading platform known for its speed, transparency, and advanced trading capabilities.

Key features include:

• User Interface: Sleek, modern interface with customizable layouts.
• Algorithmic Trading: Supports cAlgo for algorithmic trading and strategy development.
• Depth of Market (DOM): Advanced DOM functionality for professional trading.
• One-Click Trading: Fast execution with one-click trading from the chart.
• Multiple Chart Types: Range of chart types, including Heikin Ashi, Renko, and tick charts.

cTrader is ideal for professionals and those who require advanced trading tools and features, particularly for high-frequency trading.

R Trader

R Trader is RoboForex’s proprietary web-based platform, designed for multi-asset trading.

Features of R Trader include:

• Wide Range of Instruments: Access to over 12,000 instruments, including Forex, stocks, indices, ETFs, and cryptocurrencies.
• Cloud-Based: No need for downloads; the platform can be accessed directly through a web browser.
• Custom Indicators: Traders can create their own indicators and automate strategies without any programming knowledge.
• Charting Tools: Advanced charting tools with over 50 technical indicators.
• Automated Trading: Built-in strategy builder for automated trading without coding.

R Trader is suitable for those who want a powerful yet accessible platform for trading a wide range of assets without the need for downloads or installations.

Platform Comparison

Trading Instruments

RoboForex offers a vast array of trading instruments across various asset classes, providing with ample opportunities to diversify their portfolios.

Below is a detailed overview of the available trading instruments:

Forex

Forex trading is the backbone of its offerings, with over 40 currency pairs available.

Traders can access major, minor, and exotic pairs with competitive spreads and leverage up to 1:2000.

The broker’s forex offering is complemented by advanced trading tools and platforms, making it suitable for both beginner and experienced traders.

Stocks

RoboForex provides access to thousands of global stocks from major exchanges, including the NYSE, NASDAQ, and LSE.

Traders can invest in popular companies like Apple, Google, Amazon, and more.

The availability of fractional shares allows anybody to invest in high-value stocks without requiring large capital.

Indices

Indices trading includes more than 300 global indices such as the S&P 500, NASDAQ 100, FTSE 100, and DAX 30.

Indices are a popular choice for those who prefer to speculate on the performance of entire markets rather than individual stocks.

Commodities

RoboForex offers a selection of commodities, including precious metals like gold and silver, as well as energy commodities like oil and natural gas.

These commodities provide opportunities for traders to diversify their portfolios and hedge against inflation.

Cryptocurrencies

Cryptocurrency trading is one of the most exciting offerings.

The broker provides access to popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.

Traders can speculate on the price movements of these digital assets with leverage up to 1:50.

ETFs

Exchange-Traded Funds (ETFs) are available on the R Trader platform, offering a diversified investment option.

RoboForex provides access to a wide range of ETFs, covering different sectors, regions, and asset classes.

Overview of Trading Instruments

Trading Conditions

Spreads and Commissions

RoboForex offers competitive spreads and low commissions, making it an attractive option.

The spreads and commissions vary depending on the account type and the trading instrument.

• Pro-Standard Account: Spreads start from 1.3 pips with no commission.
• ECN Account: Spreads start from 0.0 pips, with a commission of $20 per million USD traded.
• Prime Account: Spreads start from 0.0 pips, with a commission of $15 per million USD traded.
• R Trader Account: Spreads vary by asset class, with commissions depending on the traded instrument.
• Pro-Cent Account: Spreads start from 1.3 pips with no commission.

The ECN and Prime accounts offer the tightest spreads, making them ideal for people who prioritize low-cost trading.

However, these accounts also charge commissions, which should be factored into the overall cost of trading.

Leverage

RoboForex is known for offering high leverage, with maximum leverage levels varying across account types and asset classes:

• Forex: Up to 1:2000
• Stocks: Up to 1:20
• Indices: Up to 1:100
• Commodities: Up to 1:100
• Cryptocurrencies: Up to 1:50

High leverage can be a double-edged sword, providing the potential for significant profits but also increasing the risk of substantial losses.

Its leverage options are particularly attractive to experienced market participants who are comfortable managing high levels of risk.

Order Execution

RoboForex offers fast and reliable order execution, with an average execution speed of under 0.1 seconds.

The broker utilizes advanced technology to ensure that orders are executed at the best available prices with minimal slippage.

The availability of multiple order types, including market orders, limit orders, and stop orders, provides flexibility in managing positions.

Margin Requirements

Margin requirements vary depending on the asset class and the chosen leverage.

The broker provides a margin calculator on its website to help traders calculate the required margin for their trades.

It’s important to understand the margin requirements and ensure they have sufficient funds in their accounts to avoid margin calls and potential liquidation of positions.

Swap Rates

RoboForex charges swap rates for holding positions overnight.

These rates are typically based on the interest rate differentials between the currencies involved in the trade.

The broker provides detailed information on swap rates for each currency pair on its website, allowing traders to calculate the cost of holding positions overnight.

Trading Hours

RoboForex operates 24/5, allowing clients to access the markets at any time during the trading week.

However, trading hours vary depending on the asset class:

• Forex: 24 hours a day, five days a week
• Stocks: During the trading hours of the respective exchanges
• Indices: During the trading hours of the respective indices
• Commodities: Varies depending on the commodity
• Cryptocurrencies: 24/7

Understanding the trading hours of different instruments is crucial for effective trading, especially for those who trade multiple asset classes.

Fees and Charges

The company is transparent about its fees and charges, with a focus on providing low-cost trading.

Below is an overview of the main fees associated with trading at RoboForex:

Deposit and Withdrawal Fees

RoboForex does not charge any fees for deposits or withdrawals, making it a cost-effective choice.

However, it’s important to note that third-party payment processors may charge their fees, which are beyond the control of the broker.

Inactivity Fees

RoboForex does not charge inactivity fees, which is a significant advantage for those who do not trade frequently.

This makes the broker suitable for long-term investors and those who trade sporadically.

Overnight Fees (Swaps)

As mentioned earlier, it charges swap fees for holding positions overnight.

These fees vary depending on the currency pair and the prevailing interest rates.

Traders can find detailed information on swap rates for each instrument on the broker’s website.

Commission on ECN and Prime Accounts

Investors using ECN and Prime accounts are charged a commission per trade.

The commission is $20 per million USD traded for ECN accounts and $15 per million USD traded for Prime accounts.

While these commissions are relatively low, they should be considered when calculating the overall cost of trading.

Comparison of Fees

Customer Support

RoboForex offers comprehensive customer support services, ensuring that traders can get assistance whenever they need it.

The broker provides multiple channels for customer support, including:

Live Chat

RoboForex offers 24/7 live chat support, allowing clients to get immediate assistance with their queries.

The live chat feature is accessible directly from its website and is available in multiple languages.

This is particularly useful for people who require quick answers to their questions.

Email Support

For more detailed inquiries, traders can contact them via email.

The broker provides separate email addresses for different types of inquiries, such as general support, technical difficulties, and partnership opportunities.

Response times for email inquiries are generally prompt, with most queries being resolved within 24 hours.

Phone Support

RoboForex also offers phone support for customers who prefer to speak directly with a customer service representative.

This broker provides phone numbers for different regions, ensuring that traders can access support in their preferred language.

Phone support is available during business hours, and response times are typically quick.

Help Center

RoboForex has an extensive Help Center on its website, which includes a comprehensive FAQ section, educational articles, and detailed guides on various aspects of trading.

The Help Center is a valuable resource for those who prefer to find answers to their questions independently.

Customer Support Quality

The quality of customer support is generally high, with traders reporting positive experiences across various channels.

The support team is knowledgeable and professional, providing clear and accurate answers to queries.

However, there have been occasional reports of slower response times during peak trading hours, particularly for email and phone support.

Education and Research

RoboForex provides a range of educational and research resources to help people expand their skills and make informed trading decisions.

These resources are designed to cater to traders of all experience levels, from beginners to advanced ones.

Educational Resources

RoboForex offers tons of educational materials, including:

• Webinars: The broker regularly hosts webinars covering a wide range of topics, from basic trading concepts to advanced strategies. These webinars are conducted by experienced traders and market analysts, providing valuable insights for participants.
• Video Tutorials: RoboForex provides a series of video tutorials that cover the basics of trading, platform navigation, and technical analysis. These tutorials are ideal for beginners who are new to trading.
• Articles and Guides: Their website features a collection of articles and guides on various aspects of trading, including market analysis, risk management, and trading psychology. These resources are valuable for those looking to deepen their understanding of the markets.
• Trading Glossary: It also offers a comprehensive trading glossary, which defines key terms and concepts used in the financial markets. This is a useful resource for beginners who need to familiarize themselves with trading terminology.

Research Resources

RoboForex provides a range of research tools and resources to help people make informed decisions.

These include:

• Market Analysis: Its website features daily market analysis reports, which cover major currency pairs, commodities, and indices. These reports are prepared by experienced analysts and provide insights into market trends, potential trading opportunities, and key levels to watch.
• Economic Calendar: RoboForex offers an economic calendar that tracks important economic events and releases. Traders can use this tool to stay informed about upcoming events that may impact the markets.
• Trading Signals: The broker provides trading signals based on technical analysis and market trends. These signals can help market participants identify potential entry and exit points for their trades.
• Copy Trading: The company offers a Copy Trading service, which allows anybody to follow and copy the trades of experienced traders. This is a valuable resource for beginners who want to learn from the strategies of successful professionals.

Promotions and Bonuses

RoboForex offers several promotions and bonuses to attract new clients and reward existing clients.

These promotions can provide additional trading capital or other benefits, making it easier for traders to achieve their trading goals.

Welcome Bonus

RoboForex offers a welcome bonus to new clients who open a trading account and make their first deposit.

The welcome bonus is typically a percentage of the initial deposit and can be used to increase the trading capital.

However, it’s important to read the terms and conditions associated with the bonus, as there may be restrictions on withdrawing the bonus amount.

Deposit Bonus

The deposit bonus is available to existing clients who make additional deposits into their trading accounts.

This bonus is also a percentage of the deposited amount and can be used to increase the available margin for trading.

As with the welcome bonus, traders should review the terms and conditions before accepting the deposit bonus.

Cashback Program

It also offers a cashback program that rewards people for their trading activity.

Traders earn cashback based on the volume of trades they execute, and the cashback can be credited to their trading account or withdrawn.

This program is a great way for active users to reduce their trading costs.

Loyalty Program

Their loyalty program is designed to reward long-term clients with various benefits, including reduced spreads, lower commissions, and priority support.

The program operates on a tiered system, with traders moving up the tiers based on their trading activity.

Contest and Promotions

RoboForex regularly hosts trading contests and promotions, giving traders the opportunity to win cash prizes, bonuses, and other rewards.

These contests are open to all clients and are a fun way to test trading skills in a competitive environment.

Conclusion

RoboForex is a versatile and well-established broker that offers a wide range of trading instruments, account types, and platforms to cater to users of all experience levels.

With competitive spreads, high leverage options, and many promotional offers, it provides an attractive trading environment for both beginners and experienced traders.

While the broker’s regulation by the IFSC may be a concern for some people, RoboForex has built a strong reputation for security, transparency, and reliability over the years.

The availability of advanced trading platforms like MT4, MT5, and cTrader, along with the proprietary R Trader platform, ensures that traders have access to the tools they need to succeed in the markets.

RoboForex’s commitment to customer support, education, and research resources further enhances its appeal, making it a suitable choice for those looking for a comprehensive and supportive trading environment.

Whether you’re just starting out in the world of trading or are a seasoned professional, RoboForex offers the tools, resources, and conditions needed to achieve your trading goals.

FAQ

References and Sources

• Official Website: https://roboforex.com/
• Twitter: https://twitter.com/RoboForexGlobal
• LinkedIn profile: https://www.linkedin.com/company/roboforex/
• Trustpilot: https://www.trustpilot.com/review/roboforex.com
• YouTube: https://www.youtube.com/@RoboForexOfficial
• Facebook: https://www.facebook.com/RoboForexOfficial/

User Reviews

Article written, edited and reviewed by

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Alternatives

Rank	Broker	Review
1	xChief
2	XTB
3	Exness
4	RoboForex
5	FBS
6	XM
7	JustMarkets
8	Markets.com
9	eToro
10	IC Markets

Last updated: September 4, 2024