Forex Trading

RoboForex Review 2023: Everything You Need To Know!

is roboforex legit

From the moment of its foundation in 2009, RoboForex has always been focused on providing the best trading conditions using innovative technologies and many years of experience. RoboForex is the international multi-asset broker of RoboMarkets who are the EU subsidiary. Besides the four direct trading platforms offered to clients there are an additional two social trading platforms that clients can take advantage of at RoboForex. The most popular of these is the CopyFX platform, where clients can copy the trades of other RoboForex clients. It’s one way for clients to access markets and enjoy excellent performance without the huge time investment of performing their own research.

Is RoboForex good for beginners?

In addition to catering to new traders, RoboForex also has advanced accounts, such as the R StocksTrader and ECN Accounts, which it says are for “experienced” traders. By contrast, the Pro is “suitable for beginning and advanced” traders, as is the ProCent.

Also, RoboForex is based in Belize so we recommend verifying all safety rules since it is not top-tier regulation. Account holders can send or receive funds via an ewallet, virtual bank account number in local currency, or a reloadable prepaid MasterCard debitcard. The Payoneer debit card allows money to be used online or at point-of-sale with the Payoneer debit cards. The company specializes in facilitating cross-border B2B payments.

RoboForex is this a scam? Reviews and description

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. 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.

The broker offers several different account options, including Prime, ECN, R StocksTrader, Procent, Pro and Demo Accounts. We learned that RoboForex’s flexibility in terms of platforms, currency pairs, and a number of provided solutions is another key advantage to its positive side. The broker offers good educational materials and research tools suitable for traders of different levels. You just need to complete a single-user profile survey to start depositing money into your trading account. You’ll have to provide an identity evidence and proof of residency to deposit large amounts.

Does Roboforex accept Neteller?

In addition, RoboForex holds membership in the Compensation Fund of the Financial Commission. This fund provides protection of up to 20,000 euro per case should a Member of the Commission refuse to abide by a judgment from the Financial Commission. You also can reach RoboForex’s customer service by telephone on a 24/7 basis where the broker’s support personnel stand ready to answer your questions in 10 different languages. Other customer service options include filling out an email request form and addressing mail to their headquarters in Belize City, Belize. You can also contact the broker via Facebook, Telegram and LinkedIn.

  • Both MT4 and MT5 offer one-click trade execution, algorithmic trading, fundamental analysis, and the MetaTrader market.
  • You will get access to 54 technical indicators and 14 timeframes, in addition to the rare types of orders.
  • The technology adopted by Roboforex is of the maximum caliber, ensuring that it’s fast, reliable, and effective.
  • You can also trade indices, ETFs, Energies, and Metals with RoboForex.
  • Thanks to negative balance protection, you are safe from losing more money than you have on your account.
  • The VIP customer can expect higher cashback and possibly higher returns on the account (see picture below).

Islamic Swap-Free accounts are a particular account category offered by RoboForex. After you have made a deposit you will receive an automatic email that you have joined the VIP program. The VIP customer can expect higher cashback and possibly higher returns on the account (see picture below). In addition, you can rent a VPS server cheaply to get even better access to the markets. You will be paid an additional fee, which depends on your trading volume. The cashback is then payable at any time and applies to all types of accounts.

RoboForex is regulated by the Financial Services Commission a Belizean regulator of the financial services market at the international level. Furthermore, RoboForex offers Negative Balance Protection and Market leading insurance. RoboForex also hosts demo trading contests, but I advise against entering them, as they promote the wrong trading behavior in a risk-it-all to qualify for cash bonuses. Terms & conditions apply, and traders should consider them carefully.

The bonus itself can’t ever be withdrawn, but any profits made with it can be withdrawn. Like many online brokers RoboForex has several account tiers that offer different levels of service and trading conditions. These range from a Pro/ProCent account level up to the Prime account level. Plus, it’s a suitable broker for traders of all experience levels, from those who are brand new to financial markets to those with decades of experience.

We have over 20 years of experience when it comes to trading online so we know what to look for. RoboForex offer traders Gold (XAU/USD), Silver (XAG/USD), and ETFs on gold, palladium, platinum and silver. Spreads start from as low as 0 pips with order execution speeds from 0.1 seconds. You can get free access to several video tutorials from the analytics center. These are especially useful for beginners as subjects covered include the market basics, technical and fundamental analysis, trading psychology and risk management. R Trader is designed for convenient trading and can be fully customised.

What Can I Trade

R Trader offers different minimum commissions, spreads, and leverage for different instruments. The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds. Support is available in more than 10 languages ​​for traders by phone, email, WhatsApp, chat, and more.

It makes RoboForex one of the best brokers for high-frequency traders. The commission-free Pro account features an average spread of 1.4 pips or $14.00 per standard lot. RoboForex shines brighter in its commission-based options, where it ranks among the cheapest brokers. The ECN account shows an average spread of 0.1 pips for a commission of $2.00 per lot, bested in the Prime account, where the commission drops by 50% to $1.00. Equity traders pay $200 per $1,000,000 in volume in the ECN account and $150 in the Prime account, which is in the higher tier of the competitive range.

The automated strategies are saved and run from the server and thus there are minimal execution delays. As the strategy builder hosts the strategies on a secure cloud server, there is no VPS required and they can be accessed from anywhere at any time. There are pre-designed templates that you can use to familiarise yourself with the builder or expand on. The borker has a free and easy to use limefx strategy builder tool where you can create your own automated trading systems without needing to conduct any complex coding. The strategy builder has a simple to use point and click interface where you can design, back test and deploy automated trading systems based on your own strategies. The video section contains weekly video forecasts for some of the most popular trading instruments.

This deposit is compulsory if you want to begin trading with Roboforex. This 2023 Roboforex review will guide you easily about trading with them. Roboforex tries to protect its customers against inflation and can pay you up to 10% extra return per year. For this purpose, however, a certain volume of trade must be implemented in the account again. The additional money can be withdrawn from the account or used for further trading activities.

This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones for their needs. It is specially offered when the industry volatility prevents clients from letting their account go in the red. In a situation like this, Roboforex offers the ability to reset a clients account balance to zero. For additional trading platforms, the inactivity fee is contingent on the sort of account you have selected. The inactivity fee is exposed to a lot of circumstances and should be disclosed clearly by the agent beforehand.

The cashback rebate services offer traders the opportunity to earn cashback for each trade they make, reducing their trading costs. The trading platforms offered to the user are MetaTrader 4, MetaTrader 5, cTrader, and rTrader. The spreads, trading fees, platforms, and trading features are what make RoboForex an enticing offer to global brokers & a choice that traders would prefer. Demo accounts are available to everyone to practice trading or test strategies without risking any real money. Demo accounts do expire after 90 days, but users are allowed to open as many demo accounts as they like.

Unlike a market maker, RoboForex rules out fraud, and 100% of the broker earns only through trading fees. The RoboForex analytics center provides all analytics in one place and is free to all clients. It can be accessed from your browser or you can download the Android and iOS applications to conduct analysis from your mobile device.

Let’s try to understand in more detail why this is the case and understand what prospects such a picture promises to future clients of the broker. Broker RoboForex offers on the website The possibility of opening a demo account in MetaTrader 4 and MetaTrader 5. In addition, the client can explore the functionality of the R Trader terminal by simply pressing the “Continue as a guest” button. However, it should be noted that the platform will not allow any trading operations, even with virtual money, when using this option. But perhaps the most important feature of the block with charts is the possibility to analyze correlations of trading instruments (analysis of two different charts on one screen). Of course, we cannot speak about this function as simple, nor can we say that any trader can use the analysis of correlations without prior preparation.

RoboForex makes multiple trading platforms available for download. RoboForex Trading platforms include MetaTrader4, MetaTrader5, cTrader, R.StocksTrader and R.WebTrader. The R.StocksTrader is a web trading platform that allows traders to carry out financial transactions with the most advanced instruments, such as ETFs, and others. RoboForex does offer multiple free demo trading accounts for beginners to practice forex trading in a 100% risk-free environment.

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You can back test your strategies on different markets and timeframes. Back testing data from 1970 is available for long term testing although it is worth noting that historical results are by no means a guarantee of future performance. Support is on hand to assist you with questions related to the strategy builder.

Is it safe to use RoboForex?

Overall, RoboForex can be summarised as a credible and trustworthy broker with advanced trading tools for pro-traders. Roboforex offers 24/7 support with a high trust score of 88 out of 99.

A demo account is a perfect choice for absolute beginners who do not really have any experience in Forex trading. With a demo account, you will get a certain amount of virtual cash. You can start investing in CFDs on more than 25 cryptocurrencies. It includes Bitcoin, Dash, EOS, Ethereum, Litecoin, Ripple, and others. You can trade cryptocurrencies 24/7, with a minimum deposit of just $10. You can trade cryptocurrencies against fiat currencies, such as BTC/USD (Bitcoin against US Dollar) and ETH/USD (Ethereum against US Dollar) among others.

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These instruments are dynamic and convenient for both the new and seasoned traders. All traders can put aside all their worries when trading using Roboforex. The broker goes to great lengths to understand what traders need. The broker also gives a number of platforms for all kinds of traders. Roboforex helps to ensure that the individual needs of all online traders are met to the best of their capabilities. Our full Roboforex review for beginners covers all you need to learn about trading with Roboforex.

is roboforex legit

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 legit

They also compensate clients commission for funds withdrawal twice a month. There are affiliate versions of the pro-standard and ecn-pro accounts that have increased spreads and commissions for clients who are receiving additional services from RoboForex partners. There is something for everyone to trade, regardless of your interests. You will find everything from major currency pairs, to popular cryptos and stocks of the largest companies across the globe. If you like choice, Swissquote also have a great selection of financial instruments. The broker provides several trading and analysis tools for clients, such as free technical indicator signals.

You can access the global cryptomarket with Cryptoindexes, Crypto.TOP and Crypto.ALT. When buying Cryptoindexes, you are investing in the growth of the whole cryptocurrency market, rather than just individual instruments. This is a really unique offering that you will not find anywhere else. I think they are a really innovate broker when it comes to crypto trading. I like how the broker has some useful educational materials that are suitable for different skill levels of traders.

There are over 20 methods available for deposits and withdrawals. For those who are not satisfied, Roboforex also offers automatic instant payouts. In less than 60 seconds, the application is processed and released.

Is RoboForex a regulated broker?

RoboForex Ltd is a financial brokerage company regulated by the International Financial Services Commission Belize, license No. 000138/437. In case the market volatility prevents clients from keeping a positive balance on their accounts, RoboForex Ltd automatically sets the balance to zero.

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