RoboForex Review
What is RoboForex?
RoboForex Group is recognized by the most respected specialists of the Financial Market. It has been operating since 2009 through two world-present entities RoboForex, which provides service all over the globe, and RoboMarkets Ltd in Cyprus, which supports countries if they are members of the EU or the EEA.
The broker has served many clients throughout its history. It is well-known for its sophisticated trading proposition, which can be tailored to suit different styles, trading sizes, and portfolio traders. RoboForex offers a wide range of trading platforms and software, including cTrader, MetaTrader and proprietary RTrader.
RoboForex also offers a ContestFX, a contest project that uses a new type. You can start great trading skills by participating in contests on demo accounts, which are held monthly and weekly.
Broker: RoboForex
Minimum deposit: 10 US$
Leverage: 1:30 | 1:1000
Regulator: CySEC. FSC
Year: 2009
Platforms: MT4, MT5, cTrader and RTrader
HQ: Belize
RoboForex licenses:
RoboMarkets Ltd. - Authorized by CySEC, (Cyprus), registration number. 191/13
RoboForex Ltd. - Authorized by FSC (Belize), registration number. 128.572
Overview
RoboForex is a trusted broker that can be used to trade through the Cyprus entity. RoboForex has a long history and many traders have been served. There are many account types and trading platforms.
The flip side is that international proposals can be made via an offshore entity. Because of the different conditions, trading fees for Stock CFDs may be higher and there is not 24/7 support.
Pros
Fast order execution
8 asset classes
Cons
No fixed spread accounts
Don't accept clients from US, Canada, Australia or Japan
Rating of the company overall
Reliability ⭐⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐⭐
Support ⭐⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.7
Awards
This broker works with clients from around 800,000.000 traders. He also provides support in 18 languages. The broker focuses on developing trading offerings using innovative technology solutions and many modern tools to trade.
RoboForex's developments and offers have been recognized by over 20 industry awards. RoboForex is currently an Official Sponsor of the Starikovich Heskes team at Dakar as well as Official Sponsor to Andrei Kulebin, a Muay Thai fighter.
Is RoboForex a scam or safe?
RoboForex is a trusted broker because it is regulated under European CySEC. It is therefore considered low-risk. However, if RoboForex is only an offshore company, you should stay away as the risks are higher.
Is RoboForex a legitimate broker?
RoboForex Group has registered two companies: RoboMarkets Ltd, a European broker licensed by the CySEC and RoboForex Ltd, an international forex brokerage registered with the FSC, Belize.
Although we don't recommend trading with offshore brokers because of their lack of regulatory restrictions on the trade, RoboForex is a safe broker that we can trade with.
What can you do to be protected?
The broker must follow a number of rules in order to ensure a fair and protected trading environment. They are also required to be regularly audited. If the broker is found to have been misleading or breaching regulations, they can be fined.
RoboForex also offers Negative Balance Protection to protect your deposits against losses. All traders' funds are stored in separate accounts at major banks and maintained in these accounts at all times. The company is also a participant in The Commission's Compensation Fund, which provides insurance coverage to traders. This makes it a reliable choice as per CySEC rules.
RoboForex also implemented a civil liability insurance program with a limit of $5 million EUR. This includes market-leading coverage for fraud, negligence, and other risks that could result in financial losses.
Leverage
RoboForex will help you if you use high leverage with the goal of maximising your gains. Although leverage can increase your chances of making quick gains due to the possibility of multiple accounts at once, it is important to understand how leverage works. Otherwise, you could lose your investment.
RoboForex leverage levels can also be determined using various measures and are set in compliance with regulatory requirements.
You can trade with global RoboForex entities by confirming your professional status.
If you are a European resident and trade with RoboForex's Cyprus entity automatically, you must comply with ESMA rule . This regulation has lowered leverage to 1:30 for Forex instruments and 1 to 5 for Cryptocurrencies.
Types of accounts
RoboForex created 6 account typesto meet the needs and requirements of their clients. You can also use a national currency to fund your account. This includes USD, EUR and RUB.
Cent Account is a great way to test or start robots. It also includes options to use floating spreads, tight spreads and even those that pay an additional commission. The correct conditions for both the beginner and advanced professional are available, as well as Islamic traders who can apply for a swap-free account.
Fees
RoboForex's trading costs are based upon institutional tight spreads starting at 0 pip and made available by fast order execution created by the technology. There are 6 account currencies, micro accounts, and many investment programs. See below for full RoboForex pricing, including funding fees. This is in comparison to other industry brokers.
Spreads
RoboForex spreadsdesigned according to account levels. The better the spread offering, the larger the account, the better. Make sure to check conditions for each account type.
We will look at Standard account fees conditions, which include floating spreads starting from 1.3 pip with no additional charges. Bitcoin vs the average spread of 341 US Dollars to get a better understanding of the spread. Below is a comparison of RoboForex with other popular CFD brokers.
Cent Account fees offer lower trading volumes and a spread of 1.3 pips. R Trader, ECN, and Prime accounts have an interbank spread starting at 0 pips. ECN accounts will cost 20USD to millions for trades of GBPUSD pair or comparable.
Consider rollover and overnight fee as costs. This is approximately -0.6 for short positions on Eur/Usd, and -0.052 for long positions held over a period of time. You can also compare fees with HotForex.
Instruments
This market range covers 8 asset classes such as Forex and Stocks, Indices and ETFs. It also includes Energies, Metals, Soft Commodities, Energies and Metals. There are over 6 Cryptocurrencies with the possibility to trade using leverage.
Deposits and withdrawals
Online account area allows you to manage your money and make transactions. It is easy to request withdrawals, check the status of processing, and deposit money.
Options for deposit
There are over 20 payment options available that allow you to transfer money quickly and easily.
bank transfer,
card payment
A wide range of e-wallets such as Skrill, Neteller and fasapay are available
What is the minimum investment for RoboForex
RoboForex minimum depositis 10$for live accounts of the first grade - either Pro-standard, or Pro-cent.
You can choose the account level at the beginning. Demo accounts are free to trade.
You should verify the margin requirements and conditions of any instrument you wish to trade. 10$ may not suffice for your strategy.
RoboForex Minimum Deposit vs Other Brokers
WIthdrawals
RoboForex has a 0% commission policy on deposits and most withdrawals where all expenses have been covered. RoboForex offers a variety of withdrawal options, including Bank Wire and Credit Cards.
However, you should be aware that some withdrawal methods charge an additional fee. Skrill and AdvCash charge a 1% processing fee. Visa withdrawals add 2.6% +1.3USD.
Trade Platforms
RoboForex is a technology-driven broker that offers a wide variety of platforms to choose from. This allows you to meet any trading requirement and adapt it to your needs.
Web Platform
The main offering is well-known for its productivity HTML4 as well as MT5 platforms. RoboForex also developed their own platform RWeb Trader and RMobile Trader.
All platforms are available via Web Versions as well as desktop versions. For more detailed analysis and tool bars that can be used by professionals and day traders.
Desktop Platform
The Rtrader Strategy Builder is an easy tool that can be used in conjunction with desktop platforms. It is free for traders who want to automate their performance and doesn't require any programming.
Both offer full control over orders and positions, and both are equipped with industry charts that show the most recent trends and advanced analysis tools. They also have a clear view of the data, which makes them easy to see.
MT4 is the most widely used platform. It has advanced chart features and indicators. This allows you to use any trading strategy.
MetaTrader 5 will let you choose between net or hedge systems via 4 executions. MT5 also features market depth, comprehensive analysis tools, and multi-currency tester. All of this is in addition to data from the most trusted sources FxWirePro, Claws&Horns.
Mobile platforms
You can still check your position and see the market via mobile version that is compatible with any mobile device.
Copy trading
The broker also developed customized tools and solutions to invest. You can either choose Copy Trading or the solution for market professionals . CopyFX is an excellent choice for an easy and reliable investment. With over 1000 traders available, RoboForex RAMM platform offers the possibility to profit from Copy trading as well as improved risk management systems that include optimization tools.
Support for Customers
The broker offers 24/7 customer support via live chat, email, and international phone lines. Also, the broker can offer callback service, as well as 11 languages.
Despite some non-responsive comments by traders in RoboForex Review, we checked and found that they were responding quickly and answering the relevant questions.
Education
Our RoboForex review concludes with educational and analysis features, as well as research tools and materials that are particularly important for beginners.
RoboForex will eventually offer you a variety of education. You can also polish your trading skills and take part in contests. This increases your level and allows you to improve your skills. Technical analysis, market analysis and a range of trading tools are available through the Members Area.
You also have access to your trading history and transaction history for up to one year. There are great research tools, including news feeds, calculators, strategy builders, and trading ideas. These are all in addition to the powerful features that you will find on these platforms.
Conclusion
RoboForex is a well-regulated broker with many technological solutions that allow traders of all sizes and strategies to start trading. RoboForex offers a wide range of platforms, accounts and assets with a variety of investment options and robotic systems. They also provide trading power by using developed tools. RoboForex provides educational materials, analytic researchers and contests. This shows their support and has a positive impact on the overall process.