Review sections
Roboforex Video Review
VIDEO
Investor Protection & Regulations “Regulated by the IFSC, investor funds are protected by account segregation and Financial Commissions’ compensation”.
RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS . RoboForex is an “A” category member of ‘The Financial Commission’ and also is a participant in its Compensation Fund. This means that if for any reason, RoboForex Ltd becomes insolvent; the commission pays a compensation amount of up to €20,000 to investors.
Traders’ funds are segregated in separate bank accounts from that of RoboForex Ltd. So, even if the broker goes bankrupt, traders investment is still safe in different accounts.
Tradable Products “Choose from over 9,000 trading instruments available on the RoboForex trading platforms, across 50 currency pairs, 26 cryptocurrencies, 8600 stocks and 9 indices.”
Some of the tradable assets are listed below:
Trading in ETFs and Soft Commodities are only offered through the RTrader platform.
Account Opening “Multiple account types are available depending on the platform, instrument and the investor’s capital, these include Cent, Standard, ECN NDD, Affiliate and Prime accounts.”
The account types available on RoboForex include:
Standard Accounts Pro-Standard Account
This account is available on MT4, MT5, cTrader and WebTrader platforms. 36 currency pairs, Metals, CFDs and Cryptocurrencies can be traded with this account type. Floating spreads which starts from 1.3 pips are featured with a leverage of 1:2000. Minimum deposit required to open this account type is $10.
This type of account is available on the MT4, MT5, cTrader and Web Trader platforms. About 36 currency pairs, metals, CFDs and cryptocurrencies can be traded on this account. Floating spreads from 0 pips are featured with leverage up to 1:300. To open this account type, a minimum of $10 is required.
A minimum deposit of $5,000 is required to open this account type. 28 currency pairs, Metals, CFDs and Crptocurrencies can be traded on the MT4 and WebTrader platforms. Floating spreads starting from 0pips are featured. The maximum leverage is 1:100.
36 currency pairs and Metals can be traded on this account type. Only $10 is required as the minimum deposit to open the account. Floating spreads are available and starts from 1.3 pips with market execution of orders. The MT4, MT5 and WebTrader platforms are available to Pro-Cent account holders. The maximum leverage is 1:2000.
This account is exclusively for the R trader platform. It features over 9,400 trading instruments with a maximum leverage of up to 1:200. The minimum required to open this account type is $100 and only the USD and EUR currencies are accepted. The spread starts from 0.01.
There are two demo account types: Demo Pro and Demo ECN-Pro NDD. They differ by leverage, spread and platform availability.
To open an account, click on “Open an Account” button found on the menu bar. Fill the form, verify your email address and phone number. Then the desired platform can be downloaded and you can begin demo trading.
RoboForex do not provide their services to residents of the USA, Canada, Japan and Australia.
Deposit & Withdrawals options “Roboforex offers several payment options, depending on country of domicile. These include e-wallets, credit/debit cards and bank wire. Withdrawals are processed within 1 day and are charged.”
Different payment methods are available on RoboForex. There are no fees charged for deposits but withdrawals attract charges depending on the method used.
Skrill: 6 currencies are accepted: USD, EUR, MYR, INR, AED and PLN. Deposits are processed instantly and the minimum deposit accepted is $10. For Withdrawals, a fee of 1% is charged. The processing time is from 1 minute to 1 day. The minimum amount is $0.1. Skrill is not available to clients from the European Economic Area (EEA).
QIWI: The only currency accepted in USD . For deposits; the range accepted is $0.3-$950 and the processing is instant. For Withdrawals; the range accepted is $1-$3800 and the processing time is 1minute-1day.
WebMoney: Only 2 currencies are accepted: USD and EUR. The minimum deposit is $10 and the processing is instant. The minimal withdrawal amount is $0.02 and the processing time is 1minute-1day. A withdrawal fee of 0.8% is charged
Fasapay: Only 2 currencies are accepted: USD and IDR. For deposits; the range accepted is $10-$20,000 and the processing is instant. For Withdrawals; the range accepted is $0.1-$20,000 and the processing time is 1minute-1day. A withdrawal fee of 0.5% is charged.
NETELLER: 6 currencies are accepted and it is not available for clients resident in the EEA. Deposit range is $10-$50,000 and the transfers are instantly processed. Withdrawals take from 1 minute to 1 day and a fee of 1.9% is charged. Amounts within the range of $5-$10,000 can be withdrawn at a time.
ePayments: Only US Dollars and Euros are accepted. Deposits are instantly processed and must be between $10 and $10,000. A withdrawal fee of 1% is charged and the processing takes from 1 minute to 1 day. The withdrawal range is $1-$10,000.
POLi: The only currency accepted in USD and it is used for deposits only. There are no charges and the transactions are processed instantly. The deposit amount range is $10-$1,000.
Visa/Master Card: The deposit and withdrawal range is $10-$20,000. The deposits are usually processed instantly or within 5 minutes. For withdrawals, processing time is between 1-10 business days. Withdrawal charges is $(2.6% + 1.3) or € (2.6% + 1) depending on the currency.
China UnionPay: The only acceptable currency is CNY. The processing time is instant. The deposit amount is between 100 CNY to 18,500 CNY.
Bank Transfers: This method takes up to 5 business days to complete. Withdrawal and deposit limits vary from currency to currency. The withdrawal charge is 1.6% of the withdrawal amount.
Web & Desktop Trading Platforms “Multiple trading platforms are provided by RoboForex, which include MT4, MT5, cTrader, R webtrader and the R Trader.”
RoboForex gives their clients access to several trading platforms. The very popular MT4 and its newer version, the MT5, are provided. These are available in the following forms: The web version, downloadable windows and MAC versions and mobile versions.
The cTrader is available as a web version, downloadable windows version as well as mobile versions.
The R Trader is a modern web based platform designed for all level of traders. There are no softwares to download as it runs on all operating systems.
R WebTrader is a web-based platform which runs on your MT4 account.
Here’s some of the main features Web Trader:
You can make changes to the parameters of your charts. These include timeframes and chart types.
Quick trade is your one click trading option.
To create a new order, set up a stop loss or pending order you can do that by clicking on the blue New Order button.
Open positions and order are available at the bottom of the screen.
All indicators and graphical analysis tools are in the top box.
Privacy & Security “RoboForex provides security through industry best security practices and compliance to the regulatory provisions of IFSC. These include segregated accounts and encryption technology.”
RoboForex has put in place several measures to adequately protect their clients while transacting business with them.
The RoboForex official website and trading platforms are protected by a 128bit encryption provided by Comodo Security Solutions. This ensures that user data including account numbers, payment details etc are encrypted during transmission over the internet. Upon registration, clients are required to verify their email address and phone number. Then, before trading with real money, proof of identity and proof of address are required. Only international passport is accepted as proof of identity while a utility bill is accepted for proof of residence
Clients’ deposits are kept in bank accounts different from that of RoboForex Ltd. The deposits are further protected by the Financial Commission’s Compensation Fund. Although, it is very unlikely that RoboForex will go bankrupt, but, if that happens, investors can get up to $20,000 from their investment.
Mobile Trading Platforms
“RoboForex platforms are all available on the mobile platforms. The MT4, MT5 and cTrader all have downloadable android and iOS versions. They can be downloaded from their respective stores or from the link on the RoboForex website.“
RoboForex platforms are all available on the mobile platforms. The MT4, MT5 and cTrader all have downloadable android and iOS versions. They can be downloaded from their respective stores or from the link on the RoboForex website.
A few features of the mobile apps:
Complete access to user accounts to trade anywhere and at anytime.
Notifications and alerts
Access to multiple charts for analysis.
Available in multiple languages.
Advanced order and account management.
Trading Features “Choose from several available trading platforms on RoboForex including MT4 and MT5 plus R Trader. Use the RoboForex VPS and trading calendar.”
RoboForex offers the MT4/MT5 trading platforms. Some of the features are:
About 50 Indicators: These platforms offer up to 50 indicators that are important for technical analysis.
The MQL4 and MQL5 programming environment allows a user to create, optimize and test his own trading robot. The MT4/MT5 platforms allow the use of robots which automates forex trading.
Fundamental Analysis: News and signals delivered directly in the terminal keeps the client abreast of financial market events.
The cTrader Platform is also offered by the RoboForex. It is a platform suitable for advanced traders. It has rare types of orders and instruments to implement certain trading strategies.
It has the following features:
54 Technical Indicators.
14 Timeframes
Level II Pricing.
Pinpoint Position Management
Advanced Charting.
The R Trader platform features more than 9,400 trading instruments and it is web based. There is no need for any downloads as it runs on the web browser. Some of its features are:
It has advanced watch lists, level II pricing, trailing stops and other helpful features.
It features a ‘Trading robots builder’ which is used to automate trading.
The platform has advanced Research and analysis tools.
Other tools provided by RoboForex include the following:
Forex Calculator
Charts
RoboForex Forum
VPS Server: This is free for clients who has a balance above $300
Commissions & Spreads “Trade with low spreads on the RoboForex trading platform, starting at just 0.1 pips on the EUR/USD benchmark”.
The spread for the popular EURUSD pair starts from 0.1 pips.
The following table shows a list of spreads selected from the most popular instruments available on the RoboForex trading platforms.
INSTRUMENT SPREAD INSTRUMENT
SPREAD
CURRENCY CFDs
AUDCAD
1.2
DE30Cash
0
AUDCHF
0.7
US500Cash
0.35
AUDJPY
1.1
USTECHCash
0.6
AUDNZD
1.3
US30Cash
0.9
AUDUSD
0.6
BRENT
2.4
CADCHF
1.2
WTI
2.2
CADJPY
1.1
STOCK CFDs
CHFJPY
1.3
GOOGL
0.6
GBPAUD
1.4
FB
0.03
GBPCAD
1.6
AMZN
0.5
GBPCHF
1.5
NFLX
0.41
GBPJPY
0.9
VOW.DE
0.1
GBPNZD
2.3
MSFT
1
GBPUSD
0.7
IBM
1
EURAUD
1.2
VZ
1
EURCAD
1.3
INTC
1
EURCHF
1.2
LLY
1
EURGBP
1
HPE
1
EURJPY
0.7
PFE
1
EURNZD
1.7
JNJ
1
EURPLN
6
EA
1
EURTRY
5.6
BA
2
EURUSD
0.1
ORCL
1
NZDCAD
2.4
ATVI
1
NZDCHF
0.9
NVDA
1
NZDJPY
1.2
CAT
1
NZDUSD
1.1
CSCO
1
USDCAD
1
MMM
1
USDCHF
0.8
ADBE
1
USDCNH
3
GE
1
USDJPY
0.4
TSLA
1
USDMXN
15
NKE
1
USDPLN
6.5
CMCSA
1
USDRUB
2.1
GM
1
USDTRY
1.8
DIS
1
USDZAR
17
PM
1
METALS TWX
1
XAGUSD
1
PG
1
XAUUSD
8
PEP
1
ETFs FOXA
1
FITS
0.24
KO
1
SPY
0.01
AAPL
1
USMV
0.02
UPS
1
UUP
0.01
BRK.B
1
COMMODITIES MCD
1
CORN
0.72
PRU
1
SGAR
0.12
SBUX
1
SOYB
1.41
PYPL
1
WEAT
0.03
GS
1
CRYPTOCURRENCY WMT
1
BTCUSD
21.9
V
1
ETHUSD
1.6
DAL
1
XRPUSD
0.07
WFC
1
LTCUSD
0.7
C
1
DSHUSD
6.5
XOM
1
BCHUSD
22.9
CVX
1
EOSUSD
1.2
MON
1
NEM
1
JPM
1
BAC
1
EBAY
1
The Pro-Cent and Pro-Standard account EUR/USD starts at 1.4 pips.
Silver vs Dollar for the Pro-Cent and Pro-Standard. 1.2 on the ECN-Pro NDD.
DE 30 Index Cash is 0.7 on average on the Pro-Standard and 0.5 on Ecn-Pro NDD.
BTC/USD is 285.9 on the Pro-Standard and 21.9 on the ECN-Pro NDD and the Prime
Minimum spread on most major assets including CFD’s, Forex and cryptos on Prime account starts at 0 pips.
*All figures were taken from the broker website at time of writing.
Bonus & Promotions “RoboForex offers several bonuses to its client including a welcome bonus of $30 for every new client, a profit share bonus and a classic bonus”.
There is a welcome bonus of $30 given to every new client. To receive this bonus, just register by filling the forms, verify your account details, identity and address, then, deposit at least $10 into your account via a debit/credit card. Deposits made by other methods are not eligible for this bonus
This profit is only available to Pro trading accounts on the MT4/MT5 platforms. For deposits below to $300, 25% bonus is added but for deposits from $300, 50% bonus is received.
Clients can receive up to $50,000 for deposits depending on the amount deposited. This bonus is only for standard and Cent accounts. Deposit up to $300 and receive 50% bonus, $300 and receive 100%, $500 and receive 115% bonus.
Customer Support “Very fast, reliable and efficient customer support is available in 12 languages 24/7”.
12 phone numbers are available for customer support in each of the languages. The phone number for support in English Language is +6531588389.
Live chat: About 7 channels are available: Webchat, Wechat, Skpe, Viber, Telegram, Facebook chat and WhatsApp
Email: For general questions: info@roboforex.com, Marketing Team: marketing@roboforex.com, partnership; affiliate@roboforex.com.
Callback Request: You can enter your phone number and a support representative will call you back.
The support team is fast and efficient as it took a few minutes for the chat representative to respond to chats across the various channels.
Research “There are analytical services which are available free of charge to RoboForex clients. These include analytics reviews newsfeed, signals and video analytics.”
Analytics Reviews Newsfeed: This reviews the important economic indicators and statistics.
Technical Indicator Signals: This provides indicators from MAC10, MAC20, Ichimoku, ZigZag, etc and other popular signals.
Video Analytics: This contains video reviews of possible market scenarios for the next week.
Analyses are informed and helpful and constantly updating. There is also an economic calendar for access to fundamental events.
Education “For trader education, several instructional videos are available as well as walk-through guides and tutorials.”
Forex Educational videos from ‘Claws and Horns’ introduces forex to new traders on Roboforex. There are also tutorials on registration of accounts, as well as how to download and use the various platforms. In order to access the content such as educational videos you will need to first register with RoboForex. The videos cover a range of trading topics for all levels of trader.
Trading Experience “The overall experience is rich for traders of all levels, it includes a variety of resources and a wide selection of trading technology.”
The multiple platforms provided by RoboForex have endeared them to traders. Their bonuses, low spreads, easy to use platforms, multiple payment methods etc makes them an outstanding broker.
FAQ Where is RoboForex based?
RoboForex is based in Belize.
How does RoboForex make money?
They make money from the spread charges and commissions. They are both a dealing desk and non dealing desk broker. With the DD accounts they make their money through spreads. With ECN accounts they make they money through mostly commissions.
How do I deposit in RoboForex account?
Using Credit/debit cards, bank transfer, FasaPay, Skrill, Neteller, ePayments, POLi, China UnionPay
What is the min. deposit for RoboForex?
Minimum deposit is $10
What is the max leverage in RoboForex?
The Maximum leverage is 1:2000 for the various account types on RoboForex Ltd.
How do I open an account with RoboForex?
Fill the online form found by clicking on “Open an Account” on the Menu bar.
Does RoboForex use MetaTrader?
Yes, RoboForex offers the MT4 and MT5 platforms.
Conclusion “RoboForex is regulated by the IFSC and provides adequate security and protection of investor funds. The brand’s own platforms are suitable for every level of trader. Trading charges are low and you can get access to over 6,000 trading instruments.”
RoboForex is regulated by the IFSC and provides adequate security of investor funds. The brand’s cutting edge platforms are great for every level of trader. Trading charges are low with access to trade over 6,000 instruments.
The multilingual customer support desk provides fast, and efficient service. Customers are rewarded with bonuses and are also provided with technical analysis, market news and signals. RoboForex can be described as a good and efficient brokerage brand.
