RoboForex Review 2024

Pros

Extremely low trading fees
Very high security of funds
Spreads from 0 pips
Good choice of trading platforms

Cons

Slow execution speeds
Only regulated by the FSC
Low customer trust rating

Demo Account

What account type should a beginner choose?

Before using a real account, you can test your skills on a demo account to acquire the experience necessary for trading. Trading operations on this account type are performed using virtual funds. If you choose to trade through MT4 and MT5 platforms, you have 2 available options, Demo ECN or Demo Pro. However, if you want to open an additional real account but are not ready yet to trade big money, you can start with a ProCent account, which is also available on MT4 and MT5 platforms.

1. Demo ECN: Demo is more often used for testing trading strategies by experienced traders.
2. Demo Pro: Demo Pro is created especially for beginners with less than 1 year of trading experience.
3. ProCent: ProCent account provides a trader with access to transactions with small sums of money because the monetary unit of this account type is a cent (0.01 USD). To start trading, 10 USD on your account will be sufficient.

Range of Investment Options Available

RoboForex is a typical CFD broker that deals in forex, stocks and shares, commodities, indices, and cryptocurrency. These assets are available as CFDs, investable equities, and ETFs.

Forex	RoboForex offers more than 40 forex pairs consisting of major, minor, and exotic currency pairs and claims to have lightning-fast execution times on orders of about 0.1 seconds.  Spread: Spreads are variable for all forex assets and start at 1.4 pips on EUR/USD in STP execution type accounts and zero spread (0.0 pips) in ECN variants.  Leverage: The leverage for forex trading that clients can take advantage of goes up to 1:2000.
Stocks	The broker claims to offer over 12,000 trading instruments from global exchanges, including the US NASDAQ, Dow Jones (US30), UK LSE, Germany’s Deutsche Boerse, and Switzerland’s SIX Swiss Exchange.  Leverage: The leverage for stock trading that clients can avail of goes up to 1:20, which is not so high and is more averse to higher risks. If you are looking to trade stocks in CFDs, you will need to find a broker that runs around 1:50.
Commodities	Soft commodities are very popular among traders and include different types of agricultural products, such as cocoa, coffee, corn, wheat, or soybeans. Soft commodities are traded by their production systems. RoboForex offers over 100 ETFs on soft commodity markets. Leverage: Trade soft commodities with leverage values up to 1:20. The minimum deposit is 100 USD: You can start trading with only 100 USD in your account.
Indices trading	Indices are one of the most popular investment instruments for those who want to speculate on the economic health of a specific country or industry. RoboForex offers over ten markets for CFD trading, including major US indices such as the S&P 500 and Dow Jones, as well as the German DAX 40 and the UK FTSE 100. Spread: Spreads on DAX start at 0.7 pips for STP accounts, while typical spreads for the ECN variant start at around 0.5 pips. Minimum lot and step of trading volume for all indices: 0.01 Commission for the trading volume of 1 million USD: From $4 depending on the account type.
ETF	An ETF is a tool that allows you to trade multiple assets (stocks, metals, commodities, etc.) as a single asset. Investing in ETFs helps diversify your portfolio with minimal expenses. Spreads from 0 pips: At RoboForex, you have the opportunity to trade with tight spreads from 0 pips. Leverage up to 1:20: Trade with leverage up to 1:20. Minimum deposit of 100 USD: To invest in ETFs, you only need to have 100 USD in your account. Over 1,000 ETFs: The broker claims to have over 1,000 different ETFs available for trading.
Metals	The financial system has historically relied heavily on precious metals. Gold is among the most valuable commodities. Investing in metals allows traders to hedge the risks of the USD’s “weakness” and possible political turmoil. The broker claims to trade XAU/USD and XAG/USD pairs, along with more than 20 ETFs on metals, with the highest order execution speed of just 0.1 seconds. Spread: At RoboForex, we trade with the lowest spreads at 0 pips. Start trading with 10 USD: You can invest with only 10 USD in your trading account.
CFDs on Futures	Traders can trade US futures at transparent prices on the exchange. These are as follows: ES-S&P 500 E-Mini: A stock index futures contract consisting of shares of the 500 selected largest-capitalization public companies traded on American stock exchanges. NQ-Nasdaq 100 E-Mini: This is a contract to buy or sell a basket of stocks that make up an index that includes the top 100 technology companies by capitalization, such as Apple, Microsoft, Amazon, Facebook, and others. YM: Dow Futures Mini: A contract that allows traders to invest in one of the most widely used indices in the world, which consists of the 30 largest US companies and reflects the general condition of the US economy. Leverage: The leverage that clients can avail of for CFDs on US Futures goes up to 1:100.
Energy commodities	Trading energy commodities are very popular around the world and very promising for traders who prefer intraday trading and want to diversify their investment portfolio. The most widely used energy commodities are ethanol, natural gas, oil, and heating oil. Trading CFDs is the simplest way to trade energy. RoboForex allows its customers to trade WTI and Brent, the two most often used oil brands. Spreads from 0 pips: Trading with the lowest spreads from 0 pips. Leverage: Trade energy commodities with a leverage value up to 1:100. The minimum deposit is 10 USD: Start trading with as few as 10 USD in your trading account.

RoboForex’s Commissions and Fees

RoboForex’s trading commission category takes into account the broker’s spreads, while the non-trading commission category takes into account the additional fees the broker charges for withdrawing funds.

Account type	Spread (minimum value)	Withdrawal commission
Pro	$13	No
Pro-Cent	$13	No
ECN	$3	No
Prime	$1	No

How to Open a RoboForex Broker Account

To open an account, you need to follow the following steps:

Step 1: Visit RoboForex’s website and click on the ‘Open Account’ button in the top right corner.

You will then be taken to the registration screen, where you will need to fill in typical information like your name, last name, email, and phone number. You will also need to confirm that you agree to their “documents,” so make sure to read this thoroughly.

Step 3: Click on the confirmation link sent to the email you provided.

After that, they sent a credential link to your registered email address. After completing this step, you will have successfully created your account, and an MT4 Standard and ECN account will be set up for you. You will also get the account details for this account here.

Step 4: Log in to the client area and set up your trading account by choosing the account type, trading platform, base currency, leverage, and password.

Step 5: Upload proof of address and ID to verify your account.

Finally, you need to remember that you need to go to the profile section of your newly created account and go through the account verification steps. If you want to withdraw funds from your account, then you have to take this step.

Step 6: After which you deposit funds into your account to start trading.

Deposit and withdraw funds

RoboForex offers several payment methods, most of which are commission-free. These include AstraPay, Nganluong Wallet, Skrill, Neteller, Adcash, Perfect Money, as well as Visa/Mastercard and JCB Bank cards. Processing time is generally short.

Withdrawal without commission

A processing fee of up to 2.6% is charged on all withdrawals; however, this fee can be avoided if you follow the conditions given below.

Rules of the “Free Withdrawal” program

• Within the framework of the program, a client has the opportunity to withdraw funds from his member area twice a month without paying any commission.
• On the first and third Tuesdays of the month, traders can deposit and withdraw funds from their accounts for free.
• On specific days, each client is eligible for a withdrawal of funds without commission fees through any payment system. This offer is valid only for the first withdrawal in those days (for one withdrawal only).

Deposit Without Commission

RoboForex never charges deposit fees; however, when you deposit funds into your trading account, part of the deposit amount is taken as a commission by the payment system. However, during application processing, it is fully compensated by RoboForex and immediately transferred to your trading account. In the payment history, traders can view all commissions and all payments for which they were compensated. There are no restrictions on how to use or withdraw this money.

Bonuses Paid by the RoboForex Broker

Welcome Bonus up to US$30

RoboForex new clients, who have passed the complete verification, can receive the initial capital called “Welcome Bonus 30 USD”.

Up to 10% on account balance

Every trader at RoboForex can receive up to 10% of their total account balance. After joining the “Up to 10% on account balance” program, you will receive monthly payments as an annual percentage of your account balance. This program applies to all account types, including ECN and CopyFX. The extra money you receive is not a bonus, and it is up to the client to withdraw this money or use it for trading.

RoboForex Cashback

In this program, the company shares its profits with each client; the higher the trading volume, the higher the compensation for the spread. The funds clients receive can be used in any way they want, without any restrictions.

“VIP client” program

Traders can become RoboForex VIP clients to receive higher percentages and additional cashback (rebates) on their account balance. Traders are awarded VIP program levels based on the total amount of funds in their trading accounts. They can join the program if the total funds in their trading accounts exceed 3,000 USD.

RoboForex Platform and Technology

RoboForex offers industry favorites MetaTrader 4 and MetaTrader 5, along with its proprietary trading platform, R StockTrader.

1. MetaTrader 4
2. MetaTrader 5
   • MetaTrader 5 Web terminal
   • MetaTrader 5 mobile terminal
3. Web platform R StocksTrader

MetaTrader 4 (MT4)

The classic MetaTrader 4 terminal RoboForex offers is the top choice for trading among its clients. It is widely popular among both beginners and experienced traders, providing all the necessary features and tools for the financial market. It also provides opportunities and special features that are exclusive to MQL platforms.

• 3 types of order execution
• 50 ready-to-use indicators for technical analysis
• Basic tools for graphic analysis
• Opportunity to program your trading robot

MetaTrader 5 (MT5)

MetaTrader 5 Web Terminal: The MetaTrader 5 (MT5) trading terminal combines advanced technologies of order execution and distributed calculations to implement the most ambitious trading ideas. One of the most sophisticated tools for developing and evaluating trading strategies and robots is MetaTrader 5. If you value speed and reliability when working with trading robots and want to use the latest modern technologies, the MetaTrader 5 platform is the best choice for you.

• 4 types of order execution
• multi-currency tester
• market depth
• 6 types of pending orders

Web platform R StocksTrader

The multi-asset terminal R StockTrader combines cutting-edge technologies and a classic design taken to a completely new level. This platform, which is accessible as an app for iOS and Android smartphones and as a browser-based WebTrader, is appropriate for CFD speculating as well as international stock and ETF investing.

• Convenient and easy to use.
• The initial deposit amount is 100 USD.
• Stock leverage is up to 1:20.
• “Advanced” watch lists

RoboForex Research and Education

RoboForex provides excellent research and educational materials. Its materials are diverse and very informative. Here are some common aspects that you may find with RoboForex regarding research and education:

1. Market Analysis: Free video courses on Forex basics, technical and fundamental analysis, trading psychology, etc. are available on the RoboForex website.
2. Educational Material: The RoboForex website has a large amount of educational material. These include articles, tutorials, webinars, and videos to help traders improve their knowledge and skills. These materials cover topics ranging from basic concepts for beginners to advanced trading strategies for experienced traders.
3. Demo Accounts: RoboForex also offers demo accounts. These are useful for traders to practice trading strategies in a risk-free environment. These have been discussed separately above in this article, which you must have read.
4. Tools: RoboForex offers a variety of tools useful for trading. These are as follows:
   • R StockTrader Strategy Builder: This tool allows traders to create automated trading systems in just a few clicks, without coding knowledge, and without uploading additional software. The R StocksTrader Strategy Builder can be used to convert manual trading strategies into expert advisors and customize multiple strategies.
   • Trading Calculator: A trading calculator is a universal tool used to calculate point value, spreads in pips and account currency, short/swap long swaps in pips and account currency, and fixed fees on ECN accounts.
   • Financial Charts: The charts on RoboForex provide the latest statistical data of the main trading instruments.

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RoboForex Customer Service 

RoboForex is also known for its excellent customer support. The support staff can be contacted by traders by phone, email, or live chat. The support team is available 24/7 to assist with questions or concerns, ensuring a seamless trading experience for all customers.

Security and Reliability of RoboForex

Security is the most important consideration when we look for a broker, as scams are rife in the CFD and investment sectors. RoboForex is a well-known and trustworthy broker with more than a decade of trading expertise. The firm is regulated by the Financial Services Commission (FSC), which makes it a safe broker.

Despite being supervised by a third-tier financial authority abroad, RoboForex has taken several security measures to guarantee the safety of its client’s money, such as:

1. Unlike most offshore brokers, RoboForex offers negative balance protection.
2. Where almost all offshore brokers cannot resolve complaints externally, RoboForex participates in the Financial Commission and its compensation scheme.
3. Despite all this, RoboForex has issued civil liability insurance.
4. RoboForex is also audited from time to time, both internally and externally.
5. It also adheres to certain performance standards assessed by VerifyMyTrade. The broker sends 5,000 depersonalized client trades each month for analysis so that they can be compared with the results of other companies and compared to the industry average.

According to our conclusion, RoboForex is a safe trading platform. The security measures involved are equivalent to those provided by European licensed and regulated brokers.

FAQs