RoboForex review and ratings.
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RoboForex review and ratings.

Started by RoboForex, Apr 16, 2020, 06:36 am

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RoboForex

Apr 16, 2020, 06:36 am Last Edit: Apr 16, 2020, 06:38 am by RoboForex
RoboForex review and ratings.
Company information.
RoboForex is a forex broker located in Belize, regulated by the International Financial Services Commission of Belize (IFSC).
RoboForex is a part of Robo Holding Group that also includes RoboMarkets company, which operates in Cyprus and is regulated by the CySEC.
Availability.
RoboForex group accepts clients from all over the world, excluding USA, Canada, Japan and Australia.
Distinctive features.
Own pool of PAMM trading accounts and advanced Social Trading Network (CopyFX). Thousands of stocks and hundreds of ETFs available for trading. 1:50 leverage offered for cryptocurrency trading. Tight spreads on major currency pairs. Bitcoin funding accepted.
Trading instruments.
Forex broker offers the following underlying assets for trading.
35+ Currency Pairs Based on major and minor world currencies. 9 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, Ripple, EOS. 4 Indice CFDs Based on baskets of different blue-chip stocks. 2 Crypto Indice CFDs Based on baskets of different cryptocurrencies. 2 Metal Spot CFDs Based on Gold and Silver. 2 Energy Spot CFDs Based on Crude Oil (WTI, Brent). 8500+ Stock CFDs Based on shares of US, German and Swiss companies. 350+ ETF CFDs Based on exchange-traded funds containing various tradable assets.
Most of Stock CFDs and ETF СFDs are available at R-Trader platform.
Comprehensive review.
RoboForex is an online forex & CFD broker registered and regulated in Belize that was set up in 2009 to serve traders globally. With the exception of the four countries USA, Canada, Japan and Australia the broker continues to serve clients from all around the world to this day.
RoboForex made headlines in the forex trading industry when they as recently as in 2018 received the 'Best Crypto Broker' and 'Safest Broker' awards from the Manchester and London investor show, respectively. RoboForex is also the official sponsor of Muay Thai fighter Andrei Kulebin, and the 'Starikovich-Heskes' team at the Dakar 2017 championship.
There is a total of 8 categories of trading instruments offered by the broker - forex, CFDs based on blue-chip stocks, cryptocurrencies, indices, metals, energies, ETFs, and various commodities.
Forex traders can look forward to trading more than 40 currency pairs with RoboForex. Spreads are as tight as zero pips, with leverage available for forex traders going as high as 1:2,000 depending on account type.
For trading in CFDs based on stocks and exchange traded funds (ETFs), the available leverage is capped at 1:20, and there is a wide range of markets available for trading, with a focus on American, German, and Swiss stocks.
To trade indices, the minimum deposit amount is 10 USD, and 100 USD for ETFs. There are more than 10 indices available for trading on RoboForex, including major international stock indices such as the S&P 500, NASDAQ, and Dow Jones Index.
Platforms available for trading on RoboForex include the standard MetaTrader 4 and 5, cTrader and R Trader. cTrader caters to expert traders partly because of the huge number of technical indicators available. R Trader, however, is a web-based platform with charting from the leading charting service TradingView. This makes for an extremely powerful and user-friendly platform suitable for traders at every stage of their trading journey. The initial minimum deposit to get started trading with R Trader is USD 100.
RoboForex offers the following account types for trading: - Standard Account - ECN Account - Prime Account - Cent Account - Affiliate Account.
There are two types of Standard accounts - Fixed and Pro. The Pro account offers a wider variety of account base currencies, with even bitcoin and gold available as the base currency of the trading account. The Pro account also comes with more available trading instruments, as well as tighter floating spreads.
The ECN accounts also has two types, one with fixed and one with floating spreads. Here, the fixed spread ECN account has fewer trading instruments available than its floating spreads counterpart.
Switching over to promotions and bonuses, RoboForex has a pretty good offering for new clients, including a welcome bonus of 30 USD for standard and cent accounts with USD/EUR as their base currency. The bonus will be deposited into the account as soon as it is verified, and after the trader has deposited at least 10 USD.
There are no fees for depositing money into a RoboForex trading account. The broker will cover all charges incurred, while offering clients more than 20 payment options to choose from.
Customer service is available in 11 languages via phone, and there are live support specialists ready 24/7 to answer to clients. There is also a callback service where clients can send in their problem and their phone number to schedule a phone call with customer support. Clients are also free to leave a message online, as an alternative to sending emails.


RoboForex

RoboForex Review.
RoboForex is a forex and CFD trading broker. They give traders access to a wide variety of instruments in several markets like currencies, indices and commodities.
Limited range of instruments Not FCA Regulated (See alternatives)
To open a live account, you'll need a minimum deposit of at least €10. Alternatively, RoboForex offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by . RoboForex puts all client funds in a segregated bank account and uses tier-1 banks for this. RoboForex has been established since 2009, and have a head office in Cyprus.
Before we dive into some of the more detailed aspects of RoboForex's spreads, fees, platforms and trading features, you may want to open RoboForex's website in a new tab by clicking the button below in order to see the latest information directly from RoboForex.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Losses can exceed deposits.
What are RoboForex's spreads & fees?
Like most brokers, RoboForex takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on RoboForex's website. The colour bars show how competitive RoboForex's spreads are in comparison to other popular brokers featured on BrokerNotes.
RoboForex EUR/USD (Average: 0.7 pips) 1.3 pips 0.7 pips 0.1 pips GBP/USD (Average: 1.1 pips) 1.3 pips 1.7 pips 0.1 pips USD/JPY (Average: 1.1 pips) 1.6 pips 0.6 pips 0.1 pips AUD/USD (Average: 0.8 pips) 1.6 pips 0.6 pips 0.2 pips USD/CHF (Average: 2.3 pips) 2.0 pips 2.3 pips 0.2 pips USD/CAD (Average: 2.9 pips) 1.5 pips 0.5 pips 0.3 pips NZD/USD (Average: 3.6 pips) 1.2 pips 2.8 pips 0.3 pips EUR/GBP (Average: 2.4 pips) 1.0 pips 0.5 pips 0.1 pips.
Spreads are dynamic and are for informational purposes only.
As you can see, RoboForex's minimum spread for trading EUR/USD is 1.3 pips - which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with RoboForex vs. similar brokers.
How much does RoboForex charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with RoboForex at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $6.2. Here's a rough breakdown of the fees and how this compares against XTB & AvaTrade .
RoboForex XTB AvaTrade Spread from : $ 1.00 $ 2.00 $ 7.00 Commission : $0.00 $0.00 $0.00 Total cost of a 100k trade: $ 1.00 $ 2.00 $ 7.00 $1 more $6 more Visit RoboForex Visit XTB Visit AvaTrade.
All fees/prices are for informational purposes and are subject to change.
What can you trade with RoboForex?
RoboForex offers over 34 different instruments to trade, including over 32 currency pairs. We've summarised all of the different types of instruments offered by RoboForex below, along with the instruments offered by XTB and AvaTrade for comparison.
FX / Currencies RoboForex XTB AvaTrade # of forex pairs offered 32 48 59 Major forex pairs Yes Yes Yes Minor forex pairs Yes Yes Yes Exotic forex pairs Yes Yes Yes Cryptocurrencies No Yes Yes Commodity CFDs RoboForex XTB AvaTrade # of commodities offered 0 21 16 Metals Yes Yes Yes Energies No Yes Yes Agricultural No Yes Yes Index & Stock CFDs RoboForex XTB AvaTrade # of stocks offered 0 1606 99 UK shares No Yes Yes US shares No Yes Yes German shares No Yes Yes Japanese shares No Yes Yes See RoboForex's Instruments See XTB's Instruments See AvaTrade's Instruments.
What's the RoboForex trading experience like?
1) Platforms and apps.
RoboForex is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. RoboForex is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of cTrader brokers. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
RoboForex also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
Still not sure?
2) Executing Trades.
RoboForex allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. RoboForex allows you to execute a maximum trade of 100 Lot. As RoboForex offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you're paying to execute your trades.
As a market maker, RoboForex may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we've listed some of the popular funding methods that RoboForex offers its traders below.
Trading Features:
Allows scalping Allows hedging Offers STP Low min deposit.
Accounts offered:
Demo account Micro account Mini account Standard account Zero spread account ECN account Islamic account.
Funding methods:
Credit cards Bank Transfer Payoneer Neteller.
3) Client support.
RoboForex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian.
RoboForex has a BrokerNotes double AA support rating because RoboForex offer over three languages email and phone support.
4) What you'll need to open an account with RoboForex.
As RoboForex is regulated by IFSC Belize , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:
A scanned colour copy of your passport, driving license or national ID A utility bill or bank statement from the past three months showing your address.
You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore RoboForex's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with RoboForex you can visit their website here.
Written by Marcus Taylor Founder & CEO.
Marcus founded BrokerNotes in 2014 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about BrokerNotes & Marcus here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results. This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.RoboForex.com/ on 01/04/2020.
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