I have been using RoboForex for some years now and in this RoboForex review, I will show you the important features you should look out for.
Before you use the RoboForex broker for your trading, you must read reviews like this. The table below summarizes the RoboForex broker review
Is RoboForex Safe And Regulated?
RoboForex Group has been recognized by the most respected experts in the financial market since 2009 and has been operating through two world-presented entities. RoboForex, which provides services all over the world, and RoboMarkets Ltd, which is based in Cyprus and supports EU and EEA countries.
RoboMarkets Ltd is also the Official Partner of BMW M Motorsport. Throughout its history, the broker has served a diverse range of clients all over the world, earning some recognition for its advanced trading proposals.
As well as tailored conditions suitable for a variety of trading styles, trading sizes, and portfolio traders. RoboForex is a trustworthy broker because it is regulated by the European CySEC, making it a low-risk trading environment. However, if the broker is solely offshore, it is best to avoid it because the risks are high.
Also, one of the best aspects of the RoboForex offer is the wide range of trading software or platforms available. Some of which include the industry-leading MetaTrader, cTrader, and proprietary RTrader.
RoboForex Review – Frequently Asked Questions
The minimum deposit is a mere $10, which is affordable for newbie traders. After signing up, the investor gains access to expert traders’ ratings. Which reflects the account’s lifespan, earnings, maximum drawdown level, and other facts. RoboForex’s also offers a $30 welcome bonus for your first deposit.
RoboForex spreads and commissions begin at US Dollar 15, with variable spreads beginning at 1.3 pips. However, the broker does not charge any deposit fees, although some payment methods do levy withdrawal fees. Additional broker expenses, including inactivity fees, are not waived by RoboForex.
RoboForex offers quick withdrawals with no fees. Other services provided by RoboForex are not subject to a commission. When withdrawing to EPS, funds can be received in as little as one minute and as long as one day. And when withdrawing from bank cards, funds can be received in ten days.
RoboForex provides ECN trading on two platforms: MetaTrader 4, a classic terminal, and MetaTrader 5, an “advanced” platform. You can also trade on MT4 accounts in R WebTrader and R MobileTrader.
This broker accepts withdrawals by eight electronic payment systems: WebMoney, Skrill, Neteller, AdvCash, Perfect Money, and VISA and Mastercard bank cards. RoboForex accepts withdrawals in the following currencies: USD, EUR, and GBP. Withdrawals to RoboForex start at one cent and are only available to confirmed clients.
RoboForex allows me to trade on MT4/MT5 terminals with leverage of up to 1:2000. Increased leverage not only helps traders to amplify their stake but also provides them with new opportunities.
RoboForex Broker Commission
RoboForex trading fees are determined by the kind of account selected by the trader. As well as the options, spread list, leverage, minimum deposit needed, and commissions, which are as follows:
- Pro-Standard Account — $10 minimum deposit, variable spreads starting at 1.3 pips, no fees, and leverage up to 1:1000.
- ECN Pro Account – minimum deposit of US$10, variable spreads beginning at 0.0 pips. Charges of US$20 payable every 1 million USD of trading volume, and a leverage of 1:300.
- Prime Account — US Dollar 5,000 minimum deposits, variable spreads starting at 0.0 pips. Fees of US Dollar 15 per 1 million USD of trading activity, leverage of 1:100.
- Pro-Cent Account — $10 minimum deposit, variable spreads starting with 1.3 pips, no commission costs, and leverage up to 1:1000. This account differs from the Standard account in that it utilizes cents rather than dollars.
- R Trader Account – US Dollar 100 minimum deposit, variable spreads starting at 0.01 pips, minimum commissions of US Dollar 1.5 charged, and leverage up to 1:200.
RoboForex Account Types And Spread
RoboForex offers five account types: Prime account, ECN account, R Trader account, Pro-cent account, and Pro-Standard account. The account types and their various spreads are as follows:
Prime Accounts: Floating spreads from 0.0 pips. Maximum leverage up to 1:300.
ECN Accounts: Floating spreads from 0.0 pips. Maximum leverage up to 1:500.
R Trader Accounts: Spreads from US Dollar 0.01 on US stocks, CFDs on US Stocks, 0.000 pips on CFDs on EU stocks, 0.0 pips on cryptocurrencies, 0.0 pips on Forex, and 0.5 pips on indices.
Pro-cent Accounts: Floating spreads from 1.3 pips. Maximum leverage up to 1:2000.
Pro-standard Accounts: Floating spreads from 1.3 pips. Maximum leverage up to 1:2000.
Islamic Swap-Free accounts: RoboForex also offers Islamic Swap-Free accounts for Muslim clients who cannot trade with swaps under Sharia law. Swap-Free account holders earn a fixed forex commission instead of the swap.
RoboForex Deposit Methods
- Navigate to the “Deposit Funds” page.
- Select the account to which you want to deposit funds from the dropdown menu.
- Select a payment method.
- Choose if you want to deposit dollars and get bonus funds, as well as the percentage.
- Enter the amount and currency.
- Select “Deposit money.”
RoboForex Review – Trading Platforms
RoboForex provides a diverse range of platforms, including MT4 and MT5. Some trading platforms are:
MetaTrader 4: Or MT4 contains all the key elements that a beginner or experienced trader would want. Which includes 50 technical analysis indicators, basic graphical tools, and three order execution methods. Users may also use StrategyQuant to create their trading robots and take advantage of the one-click trading feature.
MetaTrader 5: Professional traders may benefit from the cutting-edge MT5 platform, which offers speed and dependability for sophisticated trading. Netting and hedging capabilities, Market Depth, four forms of order execution, six types of pending orders, and hundreds of technical indicators and graphical tools are all included in the adaptable system.
cTrader: The cTrader terminal is a good choice for experienced traders seeking an alternative to MetaTrader. Users may access unusual order types, Level II pricing, and 54 technical indicators on 14 periods and 9 chart formats.
RoboForex Trading Instruments
- Energy Commodities
RoboForex Traders Education
RoboForex provides all instructional resources for its clients to master the fundamentals of Forex trading. This video lesson will be especially beneficial to novices since it covers the fundamentals of trading on the Forex market. Including many areas of technical and fundamental analysis, trading psychology, and risk management.
Summary: RoboForex Review
RoboForex is a well-known online broker that provides a diverse selection of assets on dependable trading platforms like MT4 and R StocksTrader. The broker also offers negative balance protection, which provides an additional degree of security.