In this RoboForex review, we’ll take a close look at how effectively the RoboForex platform performs in its capacity as an international multiple financial asset trading platform for traders. We hope that our tradingcritique.com review about RoboForex will assist you in determining whether RoboForex is a suitable fit for you.
RoboForex Broker Review – An Intro
RoboForex was established in 2009 as a Forex and CFD broker. It is also an official partner of BMW M Motorsport and is regulated by the Belize International Financial Services Commission (IFSC). It provides clients with access to over 12,000 financial CFD products, including Forex, stocks, indices, ETFs, soft commodities, energies, and metals.
Table 1: Roboforex Overview
| OVERVIEW | |
|---|---|
| Regulated By | The International Financial Services Commission (IFSC)Belize |
| Account types | PrimeECNR StocksTraderProCentPro |
| Demo account | YES |
| Islamic Account | YES |
| Market Instruments | ForexStocksIndicesETFsSoft CommoditiesEnergiesMetals Cryptocurrencies |
| Trading Platforms | MT4MT5cTraderR WebTraderR MobileTraderR StocksTrader |
| Minimum deposit | 10 USD |
| Maximum Leverage | 1:2000 |
| Deposit and Withdrawal Method | 20 Type of Payment method |
| Account Base Currencies | USD, EUR, RUB, CNY, GOLD, BTC |
| Customer Support | 24/7 |
| Fees | Details |
| Commission | YES |
| Trading fee | YES |
| Currency Conversion fee | YES |
| Inactive fee | YES |
| Deposit fee | NO |
| Withdrawal fee | YES |
Regulations and Trust ability Review of RoboForex Broker
RoboForex Ltd is a legal company which is founded in 2009 and regulated by the International Financial Services Commission (IFSC) and is located in Belize. The Financial Commission’s platform regulation compliance is a grade “A” recognized branch. RoboForex acquired the Verify My Trade (VMT) certificate, demonstrating that it complies with the Financial Commission’s stringent standards.
Additional procedures were taken to guarantee that the company’s commitments to its clients were met. It has put in place a Civil Liability insurance policy with a limit of 5,000,000 EUR, which covers market-leading coverage against omissions, fraud, mistakes, carelessness, and other risks that might result in financial losses for our clients.
It is the official sponsor of the “Starikovich-Heskes” team in the 2017 Dakar, which consists of experienced racers with over 60,000 off-road kilometers under their belt in Europe, Africa, & Australia. It is also the official sponsor of Muay Thai fighter Andrei Kulebin, a multi-time Thai boxing world champion, seasoned trainer, and Honored Master of Sports.
Table 2: Roboforex Regulation details
| Company Name | Registration number | Registered Address | Regulation | License Number |
|---|---|---|---|---|
| RoboForex Ltd | 128.572 | 2118 Guava Street,Belama Phase 1,Belize City, Belize | The International Financial Services Commission(IFSC) | 000138/210 |
Review on Awards of RoboForex Broker
Table 3: Some of the Awards of Roboforex
| AWARDS | AWARDED BY |
|---|---|
| – Most Profitable Broker – 2021 – Best Traders Union Partner – 2021 – Most Trusted Broker (Global) – 2021 – Best Stocks Broker (Global) – 2021 – Best Multi-Asset Trading Platform (LatAm) – 2021 – Best Prime Trading Account (Asia) – 2021 – Most Transparent Broker (Global) – 2021 – Best Mobile Trading App – 2021 – Best Investment Products (Global) – 2020 – Best Partnership Program (LATAM) – 2020 – Most Trusted Broker – 2020 – Most Transparent Asian Forex Broker – 2020 – Best Global Mobile Trading App – 2020 – Best Broker of the CIS – 2019 – Best Investment Platform – 2019 | – Traders Union IAFT – Traders Union IAFT -International Business Magazine Awards – Global Business Review Magazine Award – Global Banking & Finance Awards – Global Banking & Finance Awards – World Economic Magazine Awards – Global Forex Awards – B2B – Global Brands Magazine Awards – Global Banking & Finance Awards – International Business Magazine Awards – Global Forex Awards – Global Forex Awards – IAFT Awards – IAFT Awards |
Review on Accepted & Forbidden countries of RoboForex Broker
RoboForex serves clients from Malaysia, India, the Philippines, the Netherlands, and the United Kingdom, among others. The banned countries are listed below:
Table 4: Forbidden countries of Roboforex
| Forbidden countries |
|---|
| The United States Canada Japan Australia Russian Federation Bonaire Curaçao East Timor Liberia Saipan Russia Sint Eustatius Tahiti Turkey Guinea-Bissau Micronesia The Northern Mariana Islands Svalbard and Jan Mayen South Sudan |
Basic Currencies Review of RoboForex Broker
USD
EUR
CNY
GOLD
Market Assets and Products Review of RoboForex Broker
Clients may trade 8 types of assets 40+ currency pairs, over 12,000 worldwide equities, more than 10 indexes, 100 commodities, & exchange-traded funds (ETFs). The broker also provides 26 cryptocurrencies as well as crypto-indices, a unique product that permits traders to trade several cryptocurrencies at the same time.
Table 5: Most popular assets of Roboforex
| FOREX | Stocks | Indices | ETFs | Commodities | Energies | Metals | Cryptocurrencies |
|---|---|---|---|---|---|---|---|
| EURUSDGBPNZDGBPUSDUSDJPYAUDREYEURGBP | APPLAMZNFBGOOGLENFLX | SPXNASDAQTSXDOW JONES | FITSSPYUSMVUUP | CornSugarCoffeeCocoaWheatSoybeanFruit | BrentWTI | GoldSilverPlatinumPalladiumAluminumIridiumCopperNickel | ADAMSATOMICBTCUSDDOGEUSDLOTUSENTHUSEDLINKSLTCUSDSOLD |
Trading platforms Review of RoboForex Broker
MT4
MT5
cTrader
R WebTrader
R MobileTrader
R StocksTrader
MetaTrader 4
MT4 has all essential components for both experienced and new traders, including three order execution techniques, basic graphical tools, and 50 technical analysis indicators. Users may also use Strategy Quant to create their trading robots and enjoy the benefits of the one-click trading feature.
MetaTrader 5
Professional traders can use the cutting-edge MT5 platform, which ensures maximum trading speed & consistency. The adaptable system includes netting and hedging capabilities, Market Depth, four types of order execution, six types of pending orders, and hundreds of technical indicators and graphical aids.
ctrader
The cTrader terminal is a good choice for experienced traders seeking a replacement for MetraTrader. Rare sorts of orders, Level II pricing, and 54 technical indicators on 14 periods & 9 types of charts are available for customers. cTrader Automate also enables you to create trading robots as well as indicators.
R WebTrader
The customers of RoboForex benefit from the Company’s online platform, which was built just for their clients. It is compatible with all desktop & mobile browsers.
R MobileTrader
A little mobile application that can easily equal the functionality of fully working desktop terminals.
R StocksTrader
R StocksTrader is an easy-to-use proprietary platform with a traditional style & convenient trading for people looking to trade in worldwide markets. R StocksTrader for iOS/Android is a mobile version of the interface that enables users to trade from a smartphone or tablet.
Investment platforms Review of RoboForex Broker
CopyFX
Customers of RoboForex can use the CopyFX platform to replicate trade. Traders may use trading history to locate profitable traders, appraise performance, and set up warnings or signals. When copied traders initiate or finish deals, followers have complete control over whether or not to duplicate the trade right away. The tool has proven to be quite successful, with the CopyFX Profibot system being the most thoroughly investigated.
Available Platform versions Review of RoboForex Broker
Mobile Version
RoboForex provides smartphone applications for all of its trading terminals, including MT4, MT5, cTrader, and R StocksTrader, for mobile traders. The application provides 14 trading indicators, as well as live charts and quotes and several other mobile-friendly features. For iPhone & Android (APK) users, all platforms are accessible in all languages.
Web Version
Meta Quotes’ MT4 and MetaTrader 5 web terminals provide the same functionality and performance as the desktop version, and they’re available in all languages supported by RoboForex’s websites. You may trade straight from a browser on any device. As a result, you’ll be able to maintain track of your holdings at all times and make rapid trading decisions based on the current market scenario.
Desktop Version
You can use the R trader strategy builder in combination with desktop platforms. It is a free and easy-to-use tool for traders who want to automate their trading performance. It’s a great solution because it doesn’t require any programming knowledge. While MT4 is the most popular platform, it supports any trading strategy by including advanced charting features, as well as robots and indicators. Through four types of executions, MT5 will let you choose between net and hedge systems.
Trading hours Review of RoboForex Broker
Forex can be traded 24 /5, however trading hours vary depending upon the time zone.
Table 5: Trading hours of Roboforex
| Trading hours of Roboforex | |
|---|---|
| New York | 15:00 – 23:00 |
| London | 09:00 – 17:00 |
| Hong Kong | 03:00 – 11:00 |
| New Zealand & Sydney | 22:00 – 06:00 |
| Frankfurt | 08:00 – 16:00 |
| Japan & Singapore | 02:00 – 10:00 |
| Chicago | 16:00 – 24:00 |
Review on Account types of RoboForex Broker
Prime, ECN, R StocksTrader, Pro-Cent, and Pro-Standard are the five categories of live accounts offered by RoboForex. All accounts demand a minimum deposit of 10 USD/EUR, except the R StocksTrader account, which needs a deposit of 100 USD. There are also demo & Islamic (swap-free) accounts available.
Table 6: Account details of Roboforex
| Details | Prime | ECN | R StocksTrader | ProCent | Pro |
|---|---|---|---|---|---|
| Minimum deposit | 10 USD / 10 EUR | 10 USD / 10 EUR | 100 USD | 10 USD / 10 EUR | 10 USD / 10 EUR |
| Leverage | 1:300 | Up to 1:500 | 1:300 | 1:2000 | Up to 1:2000 |
| Commissions | Yes | Yes | Yes | No | No |
| Loyaltybonuses | All offers | All offers | Not available | All offers | All offers |
| Depositbonuses | NA | NA | NA | All offers | All offers |
| Trading instruments | 28 currency pairs, Metals, CFD on US stocks, Indices, Oil | 36 currency pairs, Metals, CFD on US stocks, Indices, Oil | More than 12,000: Indices, Real stocks, CFD on stocks, Forex & ETF, CFDs on Oil, Metals, Brazil Stocks | 36 currency pairs, Metals | 36 currency pairs, Metals, CFD on US stocks, Indices, Oil |
Demo account Review of RoboForex Broker
RoboForex provides three demo accounts, all of which are compatible with all platforms: Demo Pro, Demo, & Demo R StocksTrader. The practice account is free to use for 90 days and then expires.
Islamic Swap-Free account Review of RoboForex Broker
Islamic Swap-Free accounts are a unique account type offered by RoboForex. Swap-Free account holders are paid a predetermined forex commission instead of the swap, which is based only on the kind of currency pair & number of open lots, not on the interest rates of the issuing banks. Swap-free accounts were designed specifically for Muslim clientele who are prohibited from trading using swaps under Sharia law. Only penny and basic MetaTrader4-based accounts, as well as Pro-Affiliate accounts, are eligible for the “Swap-Free” service.
Review on Fees and Commissions of RoboForex Broker
RoboForex trading fees vary depending on the account type, platform, and market trading, with some accounts being commission-free and others being commission-based. Inactivity account fees are not charged by the broker.
Table 7: Fees & Commissions of Roboforex
| Account types | Pro Cent | Pro | ECN | Prime Accounts | R StocksTrader |
|---|---|---|---|---|---|
| Commissions | Commission-free with spreads & swaps payable for Currency and Metal CFDs | Commission-free with spreads & swaps payable for Currency, Metal, Oil, Index, and US Stock CFDs | $20 per million traded – Forex pairs, metals$5 per million traded – CFD Indices.$200 per million traded – US Stock CFDs. | $10 per million traded – Forex pairs.$4 per million traded – CFD Indices.$10 per million traded – Metals.$150 per million traded – US Stock CFDs. | US Stocks (accounts with a deposit of $10,000) – 0.0045 USD / share (minimum commission – 0.25 USD)US Stocks – 0.02 USD / share – 1.5 USD minimum.US Stock CFDs – 0.015 / share – 1.5 USD minimum.European Stock CFDs – 0.07% – 2.8 GBP.Forex – 15 USD / 1 million base currencies |
Table 8: average spreads for every account type of Roboforex
| Accounts | Average Spreads |
|---|---|
| Pro | Floating from 1.3 pips |
| Percent | Floating from 1.3 pips |
| R StocksTrader | from 0.01 USD |
| ECN | Floating from 0 pips |
| Prime | Floating from 0 pips |
Funding and Withdrawal methods Review of RoboForex Broker
Debit/credit cards, bank wire, Neteller, Skrill, Perfect Money, AdvCash, etc., which total 20 types of payment systems deposit and withdrawal options at RoboForex.
Table 9 : Deposit & withdrawal method, fees & processing time of Roboforex
| Payment Method | Deposit Fees | Withdrawal Fees | Deposit Processing Time | Withdrawal Processing Time |
|---|---|---|---|---|
| Debit/Credit Card | 0% | 2.6% + 1.3 USD2.6% + 1 EUR | Instant | Up to 10 days |
| Bank Wire (SEPA) | 0% | 1.5% | Up to 3 days | Up to 3 days |
| Neteller | 0% | 1.9% | Instant | Up to 1 day |
| Skrill | 0% | 1% | Up to 1 day | Up to 1 day |
| Perfect Money | 0% | 0.5% | Instant | Up to 1 day |
| AdvCash | 0% | 1% | Instant | Up to 1 day |
Leverage Review of RoboForex Broker
With Pro-Cent and Pro-Standard accounts, RoboForex offers maximum leverage of 1:2000. The Prime & R StocksTrader accounts have a leverage ratio of 1:300, while the ECN account has a ratio of 1:500.
Trading Tools Review of RoboForex Broker
R Stocks Trading Strategy Builder
Trading robots like R StocksTrader can be useful for a number of reasons. Traders will be able to build & test trading strategies more effectively in this manner, and a robot will be able to maximize the application of these trading techniques by automating them.
Trading Calculator
The Forex Trading Calculator is a tool that informs traders about the likely characteristics of future transactions as well as the costs associated with maintaining their holdings.
Financial Charts
Clients of RoboForex get access to real-time charts of trading instruments. The charts are accessible for all the assets of RoboForex. With this, you can keep up with the newest market news.
Education and Research Review of RoboForex Broker
Rob forex’s Rob Markets Analytics Center provides a comprehensive range of market information, including news, analytics, weekly forex predictions, trading ideas, an economic calendar, and more. How-to manuals, on-demand videos, currency analysis, as well as a supportive community forum, a blog, and an economic calendar, are all part of broad educational material, which is valuable for both basic traders and expert investors.
Bonuses & promotions Review of RoboForex Broker
Customers may also take advantage of a variety of perks & promotions, including the Welcome bonus, Profit Share Bonus, Classic Bonus, RoboForex Cashback & Loyalty program.
Welcome bonus
A welcome bonus of 30 USD will be given to new customers who create Pro or ProCent accounts utilizing the MetaTrader platform. Users must make a minimum deposit of $10 to qualify for the bonus, which cannot be lost or withdrawn.
Profit Share Bonus
Users with a Pro or ProCent account on the MetaTrader platform can get a bonus of up to 60% on their initial deposit. Users can utilize the bonus to boost their holdings and trading volume during a downturn.
Classic Bonus
Users with a MetaTrader Pro or ProCent account can get up to a 120 percent bonus on their deposit amount, up to a maximum bonus worth 50,000 USD.
RoboForex Cashback
The firm divides its profit with each client as part of this bonus; the bigger the trading volume, the larger the spread compensation. To receive a reimbursement of 5% of the spread, customers must trade at least 10 lots every month.
Loyalty program
Each trader can receive up to 10% of their total account balance through charges to an account with the option of withdrawal through the RoboForex loyalty programme.
Extra Features Review of RoboForex Broker
The educational materials provided by RoboForex include tutorials, on-demand video, currency research, as well as a useful community forum, blog, and economic calendar for both beginner and experienced investors.
Rewards & Risk Review of RoboForex Broker
RoboForex has both advantages and disadvantages which are listed in table 10.
Table 10 : Rewards and Risk of the Roboforex
 Pros |  Cons |
|---|---|
| RoboForex offers a wide range of trading products to its customers. For financial partner businesses, RoboForex provides a reasonable degree of security measures. | RoboForex does not provide a large number of trading instruments to pick from. |
| A variety of payment options for deposits and withdrawals are available. | No deposit bonus (NDB) programs are not available at RoboForex. |
| RoboForex offers an expedited account registration and demo account access process. | RoboForex is not regulated by the FCA. |
| RoboForex offers highly skilled trading conditions as well as unique automatic exchange functionality. |
Customer Support Review of RoboForex Broker
RoboForex provides multilingual services in more than 18 different languages. Multilingual customer service is also accessible 24 /7 by phone, live chat, email, Facebook Messenger, Telegram, Viber, Skype, and WhatsApp. There’s also a comprehensive FAQ section with questions and answers on several subjects.
Table 11 : Roboforex social media pages & customer service languages
| RoboForex Social Media pages | Multilingual customer service | |
|---|---|---|
| https://www.facebook.com/RoboForexOfficial | Thai – +66 65 965 6091English- +65 3158 8389Russian- +65 3158 8389Malay- +60392122059Portuguese- +55 6140421173Polish – +65 3158 8389Ukrainian- 0 800 501 840Spanish- +34 911 237 952Arabic – +65 3158 8389Italian– +65 3158 8389Chinese traditional – +88 6277414290Chinese simplified- +88 6277414290Hungarian- +65 3158 8389Croatian- +65 3158 8389Vietnamese- +84869402418Latvian- +65 3158 8389Estonian- +65 3158 8389Czech- +420 228 885 018German – +65 3158 8389 | |
| YouTube | https://www.youtube.com/RoboForexGlobal | |
| https://twitter.com/RoboForexGlobal | ||
| Phone | +65 3158 8389 | |
| https://www.instagram.com/roboforex/ | ||
| Website | https://roboforex.com/ | |
In a Nutshell
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