Are you searching the broker for trading? Here you can read RoboForex review which might be suitable for you to trade. Moreover, find about RoboForex Broker Fee, Account Types, Deposit and Withdrawal methods, security, bonus and promotions, etc.
Introduction – RoboForex Review
RoboForex LTD is a subsidiary company of RoboForexGroup. Established in 2009, this broker has been serving millions of forex traders internationally over the years.
RoboForex is best known as a forex and CFD broker who offers thousands of assets including foreign currencies, stocks, ETFs, indices, energies, metals, and more.
This broker is headquartered in Belize and authorized by multiple independent self-regulatory bodies.
Since they’ve stepped in the financial markets, the broker has been offering an attractive trading environment for its clients including features like welcome bonuses, free education, learning materials, and more.
Our in-depth review of RoboForex will help you to understand the broker thoroughly and will help you to assess if it is the right trading home for you or not.
Trading Fees: Like many brokers, RoboForex also charges its trading fees and through spreads and commissions. For major forex currency pairs, the spreads start from 1 pip and rise up to 2.7 pips depending on the nature of the assets.
These spreads may look comparatively higher than many other brokers but since they’re not charging any extra fees other than spreads, it looks alright from our point of view.
If you’re trading with an ECN account, you’ll experience a completely different cost package than a standard account.
In this case, the spreads are lower but you’ll be charged a $15 commission against each lot traded. RoboForex also offers fixed spread options.
It helps you to sustain in a highly volatile market and protects your trades from unexpected stops due to abnormal differences between buying and selling prices.
However, such a fixed spread account also charges commissions separately. The traders who hold their positions overnight may be charged a swap fee by the broker. In spreads, the swap fee ranges from 0.5 to 5.8 pips.
RoboForex offers an Islamic account option which incurs no swap fees at all but only charges a commission against each of your market entry.
Deposit and Withdrawal Fees: RoboForex doesn’t apply any charges on deposits no matter which method you use. It only applies a withdrawal charge based on the withdrawal method you choose.
For bank transfer (SEPA), it charges a 1.5% fee of your total withdrawal amount and for local bank transfers the fee may rise up to 4%. Other than that most of the methods used to withdraw funds are completely free of charges.
Account Opening – RoboForex Review
You can open a RoboForex trading account by following only a few simple steps:
- Visit the official website of the broker
- Register for the Member’s Area
- Go to the “Live Account” section in the Member’s Area
- Select your favorite type of account
- Select suitable parameters for your new account and fill up the forms with necessary information
- Verify your ID and location (mailing address)
Once you’re verified, you’re ready to enjoy every feature of the RoboForex trading account. The final step is, simply to fund your account and start live trading.
Verification is important because it lifts the limits of your deposits/withdrawals and lets you get the full access to the RoboForex trading facilities.
For verifying your ID, you may use your passport, national ID, or driving license and for address verification, a copy of your recent utility bill or bank statement (not older than six months) are the ideal options.
Depending on the requirements from individual traders, RoboForex offers 5 types of trading accounts so that you can choose the one that suits you best. Let’s have a look:
- Prime Account: Prime account is designed for advanced traders. With a prime account, you can trade 28 currency pairs, metals, CFDs, US Stocks, Indices, Energy, Cryptocurrency, and more. The minimum deposit for opening a prime account is $10. Moreover, the floating spreads start from 0 pips and maximum leverage is allowed up to 1:300. The prime account also supports loyalty bonuses.
- ECN Account: ECN means Electronic Communication Network. ECN accounts offer the best dealing conditions with tightest spreads and faster execution speeds. With this account, you can access over 36 forex currency pairs along with other instruments like CFDs, stocks, Cryptos, and more. Maximum leverage for an ECN account is 1:500 and it also includes the facility of loyalty bonuses.
- Pro-Standard Account: It is the most popular account type among the traders of the RoboForex family. This account features an optimal trading condition that suits both beginners and experienced professionals. The maximum leverage for a pro-standard account is 1:2000 with floating spreads starting from 0 pips. As like as ECN, this account also provides full access to the RoboForex assets and offers numerous options for investments. A pro-standard account can be opened with as low as $10 and also supports all kinds of deposit bonuses offered by RoboForex.
- Pro-Cent Account: Pro-Cent accounts can be an ideal start for beginners. It uses “cents” as its base currency (US cents, EU cents, etc.). The minimum trading size is 1 micro lot (0.01). Spread applied as floating and starts from 1.3 pips. Leverage is allowed up to 1:2000 with access to 36 currency pairs, metals, and Cryptocurrencies. The pro-Cent account is eligible for both deposit and loyalty bonuses.
- R Trader Account: R Trader is a unique trading account especially curated to trade all kinds of financial assets with a multi-asset web platform. R Trader gives you access over 12,000 indices, real stocks, Cryptocurrencies, forex currencies, and more. The minimum deposit for opening an R Trader account is $100. Spreads start from 0.01 pips and the maximum leverage is 1:200.
RoboForex Deposit and Withdrawal Methods
RoboForex offers a large number of deposit and withdrawal options making sure of the maximum flexibility in transactions for its clients.
As a RoboForex client you may choose any of the following methods for deposits as well as withdrawals:
- Bank Transfer (SEPA)
- Local Bank Transfer
- Rapid Transfer
- Nordea SOLO
- Santander Rio
- China UnionPay
- Banco Do Brasil
- Perfect Money
- QIWI Wallet
- Yandex Money
- Mobile Money
- WeChat Pay
- China UnionPay
RoboForex Trading Platforms
- MT4 Trading Platform: MetaTrader4 is an electronic trading platform, widely used by millions of global traders. This most popular trading software was developed and launched by Metaquotes Software Corp in 2005. RoboForex is licensed as a MetaQuotes client and allowed to provide the MT4 to its clients with full access to these software features. MT4 has a number of versions that are compatible with Windows, Android, and iOS.
- MT5 Trading Platform: RoboForex is one of those few brokers who offer both MT4 and MT5 trading platforms to their clients at the same time. MT5 is considered as the most advanced trading platform in the modern trading era. Besides the technical analysis, this software also allows you to access the fundamental analysis, copy trading service, market signal service, and more. RoboForex MT5 trading platform includes built-in forex VPS and alert system that keeps noticed about all the important market events.
- cTrader Platform: cTrader is considered as the most dominant retail trading platform in the ECN sector. This platform was developed by Spotware and launched its first version in April 2011. Besides regular trading activities, this platform also helps you to carry on automated trading and allows you to create custom technical indicators. In terms of the license fees, cTrader is more expensive than MT4 and MT5 platforms. On March 6, 2013, RoboForex launched cTrader as a new trading platform for its ECN traders. Besides CTrader portable software, you can also access its web-based versions so that you can access the market on move and from anywhere in the world. cTrader supports Windows, Android, and iOS.
- R Trader Platform: R trader is a multi-asset terminal, best known for allowing its users to create their own automated trading solutions. This platform doesn’t require any software download nor any updates. It is a complete web-based platform that supports trading all the financial instruments offered by RoboForex. R Trader also includes the “Advanced Watchlist” feature so that you can always monitor your favorite assets.
Markets and Products
RoboForex offers more than 9,400 financial assets in eight categories for their clients. As a trader, you’ll have full access to all the assets and you’re free to choose your favorite instrument to trade on. Let’s have a look at the summary of RoboForex assets:
- Forex: RoboForex offers over 40 currency pairs including major, minor, cross, and exotic pairs. For forex trading, the broker allows leverage up to 1:2000. Major currency pairs like EUR/USD, GBP/USD, EUR/GBP, AUD/USD, etc. are traded in lower spreads compared to other brokers within the same level of standards. All the trading platforms of RoboForex supports forex trading including web traders.
- Stocks: As a RoboForex trader, you’ll have access to thousands of stocks that you can trade with leverage up to 1:20. AAPL (Apple Inc.), AMZN (Amazon.com Inc.), FB (Facebook Inc.), GOOGL (Alphabet Inc.), and NFLX (Netflix Inc.) are the most traded CFDs on stocks. Besides, the broker allows automated trading on stocks and includes the fastest tools for technical analysis.
- Indices: Popular indices like US 500 Index, US Nasdaq Index, US Dow Jones Index, and DE 30 Index Cash all are traded through RoboForex trading platforms on a daily basis. The broker allows you to trade indices with as low as a $10 account. Most orders are executed within 0.1 seconds and the spreads start from o pips without mark-up.
- ETF: ETF is a modern form of investment that allows you to trade multiple assets like stocks, goods, metals as one single stock. ETF investment assists you in diversifying your trading portfolio incurring the least expenses. RoboForex offers more than 1,000 ETFs which includes most traded instruments like FITS (The Health and Fitness ETF), SPY (SPDR S&P 500 ETF), USMV (USA Min Volatility MSCI Ishares), UUP (DB US Dollar Index Bullish Powershares), etc.
- Commodities: Top commodities like Cocoa, Coffee, Corn, Wheat, Sugar, and Syabean all are included in RoboForex markets. The broker offers an R Trader account specially designed for trading commodities in a faster and more convenient way. With high-functional charts and competitive online quotes, RoboForex offers a great environment for trading commodities.
- Metals: With RoboForex accounts you are free to invest in all the top traded metals like Gold (XAUUSD), Silver (XAGUSD), Platinum, Palladium, Copper, and more. Spreads for metals start from as low as 0 pips. The broker also offers both technical and fundamental analysis of precious metals on a daily basis for their clients.
- Energy: RoboForex clients have full access to Energy commodities. Oil, Natural Gas, and Ethanol are some of the most traded instruments offered by the broker. Moreover, you’re allowed to use up to 1:100 leverage by the broker for trading energy commodities. With RoboForex R Trader Strategy Builder, you can create your own trading bots for trading Energy commodities on an automated system.
- Cryptocurrencies: The market never sleeps so does the Cryptocurrencies. RoboForex traders have 24/7 access over 26 Cryptocurrencies with a leverage facility up to 1:50. Top instruments like Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Litecoin, and Ripple are some of the most traded Cryptocurrencies within RoboForex trading platforms.
Market Research & Education
RoboForex offers a lot of learning materials including tutorials, articles, and educational videos. The market education program has been designed to help newbie traders for understanding the financial markets and the trading process.
For beginners, they’ve launched a course named “How to Start Trading on Financial Markets” that covers basic knowledge about market movements, trading psychology, and techniques.
The broker has also launched a number of courses on specified stocks covering how to trade them, technical and fundamental analysis, and advanced skills. As a registered RoboForex client, you’ll have complete access to its education and learning section.
The broker has established its own Analytics Center for aiding the live traders. Analyzing the forex market and forecasting the next move is the main responsibility of the analytics center.
The research team is built with experienced market experts who continuously monitor the market and regularly updates the traders about potential changes in market status. RoboForex Analytics Center covers the following areas of market research:
- Market Overview
- Forex Fundamental Analysis
- Forex Ichimoku Cloud Analysis and Forecast
- Forex Murrey Math Lines and Forecasts
- Forex Wave Analysis and Forecast
- Forex Technical Analysis and Forecasts
- Fibonacci Retracements Analysis
- Japanese Candlestick Analysis
Roboforex has its own trading blog where you can explore various trading strategies, analysis, and case study of past market events, weekly fundamental analysis reports, unique indicators, and more.
Besides the trading tools, they also provide tutorial articles describing how to apply them for the better benefits out of live-trading.
The broker also publishes its own economic calendar providing the schedule of all the important market events so that you never miss one. This calendar can be adjusted with your time zone and can filter the events as per your requirements.
Safety and Security
RoboForex Ltd is regulated and announced as an international Forex broker by IFSC Belize (Trading in financial and commodity-based derivative instruments and other securities) under license no. IFSC/60/271/TS.
The broker is also a member of the Compensation Fund of The Financial Commission. The Financial Commission plays a neutral 3rd party role between the investors and the brokers.
They review and resolve complaints from the clients and provides extra protection for the traders with its “Compensation Fund” up to €20,000 per case.
As a financial broker, RoboForex is also a member of the Financial Commission. The commission settles the disputes between traders and brokers based on its terms and conditions.
This broker also received the VMT (Verify My Trade Certificate) issued by the Financial Commission confirming its compliance following strict requirements from the regulatory bodies.
RoboForex has launched a Civil Liability Insurance program of 5,000,000 EUR, includes coverage against fraud, errors, omissions, and other disputes involving financial losses of the clients.
Bonus and Promotions – RoboForex Welcome Bonus
$30 Welcome Bonus: RoboForex offers a $30 welcome bonus for its new registered clients. Once you receive a welcome bonus, you’re free to use your extra fun for regular trading purposes and can withdraw all your profits without restrictions.
The bonus funds are never written off even if your account is under “drawdown”. RoboForex Pro-Standard and Pro-Cent accounts are eligible for receiving the welcome bonus. The process of receiving a welcome bonus takes only 3 simple steps:
- Register for a trading account
- Verify your account information
- Deposit at least $10 to your trading account
Get Free: RoboForex $30 Welcome Bonus
- Profit Share Bonus: You’ll also receive a 60% deposit bonus when you increase the deposited amount by 60% of your initial investment. It allows you to keep trading during a drawdown and also lets you increase your trading positions and volume. The bonus fund can be used as a regular fund for live trading purposes and the profit made using the bonus fund can be withdrawn anytime without limitations. Only Pro-Standard and Pro-Cent accounts are eligible for the profit share bonus facility.
- Classic Bonus: Once you agree to receive the classic bonus, you’ll get up to a 120% bonus on every single deposit you make to your trading account. Each client can receive up to $50,0000 bonus based on their fund deposits. The best part is, you can withdraw your classic bonus after fulfilling the required trading volume. RoboForex standard and cent accounts are eligible to receive the classic bonus.
Special Features and Services
- Cashback (Rebates) Program: All types of RoboForex accounts are qualified for this program. It allows you to make an additional income to your trading account. The rebates are calculated based on your total trade volumes. Since Cashback or Rebates are not bonus funds, you’re free to use it in your own direction. Clients are required to trade at least 10 lots per month.
- Up to 10% Extra Funds on Account Balance: This program also lets you make an extra income based on your trading volumes but without any monthly requirements. The more you trade the greater the payment is. Based on your total trading volume you can receive up to 10% extra funds to your trading account. You can withdraw it or reinvest to your trading account at your own wish.
- Free VPS-Server: Accounts with equity more than $300 are eligible for Free VPS-servers. VPS-servers are intended for clients who are attached to trading robots and MTS (Mechanical Trading System). This remote trading terminal lets you trade 24/7 by using expert advisors (automated trading system) without running your own computer.
- Free Contests: RoboForex offers a number of trading competitions that directly benefits potential traders with prize funds in their account. Some of the contests like Trade Day (weekly), Demo Forex (monthly), Week with CFD (weekly), KingSize MT5 (weekly) are very much popular among the contestants. The prize pool for such contests raises up to $3000 and you are free to decide the future of your prize money.
- VIP Client: RoboForex VIP clients enjoy exceptional privileges provided by the broker. VIP clients receive up to 40% rebates and additional payouts based on their trading volumes. Moreover, they can access the VPS servers without any restrictions and are accompanied by a personal VIP manager. You can simply be a VIP member by making the required amount of funds to your account. The VIP program has three levels: 1. Silver ($3,000 – $30,000), Gold (30,000 – 100,000), and Platinum (over $100,000 investment).
- Negative Balance Protection: If you ever score a negative balance in your trading account due to high or abnormal volatility of the market, the broker automatically adjusts the balance as 0 and you do not require to pay anything for this.
Traders who require assistance may contact the customer support team in multiple options. You can contact using their live chat option, e-mail, direct call, or by requesting a callback. The support service is available 24/7 and served in eleven different languages.
RoboForex customer support team provides assistance by well-trained experts who are able to serve quick solutions for their clients. RoboForex periodically holds surveys and asks for suggestions from its clients to improve their support service more efficient and customer friendly.
Awards and Partners
In 2019, RoboForrx was awarded by IAFT in three categories which are, “Best Boker of the CIS”, “Best Investment Platform, and “Best Educational Forex-Center in CIS”.
Since 2012 the organization has been awarded many times for its excellence in service as a financial broker. RoboForex was also awarded as the “Best ECN Broker” in 2013 and also in 2016 from multiple monitoring bodies.
RoboForex has been sponsoring so many sporting events during their journey as a financial broker and established themselves as a popular name in the world of sports. Here is a list of their sponsored partners:
- BMW M Motorsport from 2019 till present
- RoboMarkets AEL Volleyball tournament from 2019 till present
- Muay Thai fighter and coach Andrei Kulebin from 2018 till present
- LKL BC Žalgiris basketball team for 2018 – 19 season
- Tenis Pro Zivot event, 2018
- Starikovich-Heskes Auto Racing Team in Dakar, 2017
- The Limassol Police Football Team, 2016
2118 Guava Street, Belama Phase 1,
Belize City, Belize.
Russian: 8 800 200 9757
Kazakh: +7 (727) 3257070
Spanish: +34 911 237 952
Chech: +420 228 885 018
General questions: email@example.com
Marketing Team: firstname.lastname@example.org
Frequently Asked Questions
Is RoboForex safe for trading?
RoboForex is regulated and authorized by IFSC, Belize under license no. IFSC/60/271/TS. The broker is also a member of the Financial Commission providing extra protection for the traders with compensation up to €20,000 for any proven dispute from the broker.
How do I get the RoboForex welcome bonus?
RoboForex offers a $30 welcome bonus for its registered clients which can be obtained in three simple steps: 1) Register for a RoboForex trading account 2) Verify your account 3) Make an initial deposit of at least $10.
We’ve already published an article about RoboForex $30 welcome bonus providing all the information you need to know before you step in. Please click here for the brief details about the bonus promotion.
Does RoboForex allow scalping?
Yes, they do. RoboForex allows scalping and even news trading. The broker has bought ECN and Pro-Cent account for making short-term trading more convenient with tighter spreads and faster execution of trades.
Is RoboForex an ECN broker?
Yes, they are. In fact, RoboForex was awarded as “The Best ECN Broker” by IAFT in 2016. RoboForex offers ECN accounts for its clients along with a maximum leverage of 1:500. ECN traders can access all the assets and features of the broker including more than 36 currency pairs, CFDs, stocks, Cryptocurrencies, and more. ECN traders also enjoy raw spreads that help traders to stay in balance in volatile markets.
Can I trade Cryptocurrencies on RoboForex?
Yes, you can trade over 26 Cryptocurrency assets 24/7 using the RoboForex platform. Moreover, the broker assists the Crypto traders with leverage up to 1:50. Top Crypto instruments like, like Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Litecoin, and Ripple all can be traded through RoboForex accounts.
What is the minimum deposit for RoboForex?
The minimum deposit to start trading with RoboForex is as low as $10. You can deposit your funds to your trading account as many times as you wish without paying any charges or commissions.
How do I deposit money into the RoboForex account?
Once you’re done with opening and verifying your trading account, you can deposit funds to your account following a few simple mouse clicks. Just choose your favorite payment method from the provided list by the broker, set the amount you want to deposit, insert password or security codes, and you’re done. The fund is instantly credited to your trading account without making any unnecessary delay.
How do I withdraw money from RoboForex?
Select the payment method you wish to apply for the withdrawal, set the amount you want to withdraw, insert password, or security codes. Once you successfully submit a withdrawal request, the broker sends you a confirmation e-mail with details about your withdrawal mentioning possible time to process the transaction.
Since RoboForex stepped in the financial markets in 2009, the broker kept ticking every box and options they’ve got for developing themselves as a top-class international broker.
They’ve included over 9,000 assets in eight categories to their asset list, launched four different trading platforms including RoboForex terminals with five different account options for satisfying the customer needs.
Over the past decade, the broker also kept invading and developing unique features like negative balance protection, trading contests, free-VPS servers, Cashback/rebates, and many more for making themselves more customer-friendly.
Currently, they’re claimed to be serving more than a million traders across 169 countries around the world. With multilanguage customer support and excellent education & research center, the broker aimed to keep a close relationship with its clients by helping each other.
According to our RoboForex review, the broker looks promising to their clients with outstanding service and supports. If the terms and feathers of the broker match your expectation, RoboForex can be you next trading home.