What is RoboForex All About?
RoboForex is an online broker providing trading assets on their Pro-Cent, Pro-Standard, and RAMM live accounts. The broker offers an impressive selection of platforms, including MT4 and MT5 we’ll providing details in this review, along with regulation, bonuses and deposits.
In this article, I’ll cover the following sub topics and also give answers to some questions asked. These include: RoboForex login, RoboForex review, RoboForex Nigeria, RoboForex minimum deposit, RoboForex no deposit bonus, RoboForex register and RoboForex sign up. Do well to read this article to the end without skipping a line.
RoboForex Company Details
RoboForex was founded in 2009, with its headquarters in Belize and is regulated by the International Financial Services Commission (IFSC). The RoboForex broker offers over 12,000 trading instruments in 8 asset classes, as well as 2 investment platforms and 4 trading platforms.
RoboForex has earned a good reputation over the years with 3 million live accounts opened since inception. The company has also made the news as the official partner of BMW M Motorsport and has secured a sponsorship deal with Muay Thai Fighter and world kickboxing champion, Andrei Kulebin
RoboForex Trading Platforms
RoboForex MT4 includes all the essential features a beginner or advanced trader would need, with 50 indicators for technical analysis, basic graphical tools, and 3 order execution types. Users can also program their own trading robots with StrategyQuant and take advantage of the one-click trading capability.
The platform is available as a downloadable desktop client or a convenient webtrader accessible straight from a browser.
Professional traders can take advantage of the cutting edge RoboForex MT5 platform, which provides speed and reliability for advanced trading. The flexible system features netting and hedging capabilities, Market Depth, 4 types of order execution, 6 types of pending orders, and dozens of technical indicators and graphical tools.
Again, users can enjoy either the downloadable PC application or the web-browser version of the platform.
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For experienced clients looking for an alternative to MetaTrader, the cTrader terminal is a sensible option. Users can access rare types of orders, Level II pricing, plus 54 technical indicators on 14 timeframes and 9 types of charts. You can also create trading robots and indicators using cTrader Automate.
The platform can be downloaded or accessed straight from a browser. The web version is ideal for MacOS PC users.
The easy-to-use proprietary platform, R Trader offers a classic design and convenient trading for those who wish to invest in global markets. Users can access 13 technical indicators, 9 graphical tools, Level II Market Depth and an automated strategy tester. Netting and hedging account models are also supported.
R Trader is available both as a web-platform as well as a desktop application.
Clients can trade on 40+ currency pairs, over 12,000 global stocks, more than 10 indices, such as the Dow Jones (US30) and NASDAQ, 100 commodities, including oil, and ETFs. The broker also offers 26 cryptocurrencies plus cryptoindicies, a unique product that allows for trading on several cryptos at once.
Overall, this review was impressed with RoboForex’s depth of products in 2021. Note detailed contract specifications can be found on the broker’s website.
RoboForex Spreads & Commission
Pricing depends on the account you choose but spreads are fairly competitive vs brokers such as FBS and FXTM. Fees for the Pro-Cent and Pro-Standard accounts are included in the spreads, which average around 1.4 pips for EURUSD, 1.75 for US indices, and around 22 for XAUUSD (Gold).
You will see tighter spreads with the Prime and ECN accounts, with zero pip spreads available in some asset classes.
The maximum leverage offered at RoboForex is 1:2000 with Pro-Cent and Pro-Standard accounts. Leverage up to 1:500 is available with the
RoboForex Mobile Apps
For mobile traders, RoboForex offers smartphone apps for all their trading terminals (MT4, MT5, cTrader, and R Trader):
- MetaTrader – MT4 and MT5 users enjoy the same technical features as desktop apps, including customisable charting tools, full trading history, and access to trading robots. The same members client login area is available on mobile platforms.
- cTrader – cTrader offers handy features including pinch-to-zoom, fling scrolling, and double-tap action to recentre charts, as well as in-app notifications.
- R Trader – R Trader is also fully-featured and offers an all-in-one solution, with secure in-app account deposits and bonus management. The app offers 14 trading indicators, plus live charts and quotes, and additional mobile-friendly features.
All platforms are available in 22 languages for both iPhone and
RoboForex Payment Methods
There’s no shortage of funding methods at RoboForex, with dozens of deposit methods in 9 different currencies, including USD, EUR, GBP and ZAR. International and local bank depositors are available, as well as card payments and e-wallets. PayPal is not accepted. All deposit methods are free and fast and most methods require a 10 USD/EUR minimum deposit with standard accounts.
There are 13 withdrawal methods available, though this may vary depending on your jurisdiction. Withdrawal times for most methods are just 1 day, which is praised in customer reviews in 2021. Commissions for withdrawals vary but range from 0.5% to 2.8%. The group does offer a Free Funds Withdrawal programme which allows you to withdraw funds twice a month with no commissions. Further details and restrictions can be found on the website.
RoboForex Demo Account
RoboForex offers a choice of three demo accounts, suitable on all platforms: Demo Pro, Demo, and Demo R Trader.
The Demo Pro account is the most popular choice as it replicates the trading conditions of the standard account packages, with 1:2000 maximum leverage and floating spreads from 1.3 pips. Users can test trading strategies without spending or risking real money.
You can open a demo account from the broker’s homepage. The practice account is free to use and expires after 90 days.
RoboForex Deposit Bonus
Pro-Cent and Pro-Standard new account users receive a welcome bonus of 30 USD after depositing a minimum of 10 USD via bank card. Cent and Standard users can also benefit from the 60% Profit Share Bonus, as well as up to 120% on deposits by claiming the Classic Bonus.
The broker also offers other promotions, including up to a 10% bonus credit on account balances, cashback rebates based on trading volume, daily competition opportunities with ContestFX and a free VPS server. Full bonus withdrawal terms and conditions can be found on the broker’s website.
RoboForex currently does not offer any no deposit bonus (NDB) deals in 2021 but has previously offered weekly demo contests, so traders should check the website for upcoming promotions.
RoboForex’s educational suite contains many useful resources for both casual traders and professional investors, including how-to guides, on-demand videos, forex analysis, plus a helpful community forum, blog and economic calendar.
The most notable feature is the RoboForex Analytics centre, a free subscription to analytical data and trading instruments from within one window. Available in 13 languages, and offering an interactive data layout, users can gain access to signals, videos, calendars, and tools for traders.
Benefits of RoboForex
Reasons to open a RoboForex account include:
- Bonuses offered
- Decent range of assets
- 4 live trading platforms
- Commission-free trading
- Copytrade investment platforms similar to Zulutrade
Drawbacks of RoboForex
The only major drawback for registering with RoboForex is:
- US clients not accepted
RoboForex Customer Support
RoboForex offers multilingual support in over 12 languages including English, Malaysian, Indonesian, Arabic, and Spanish. Help is available 24 hours a day, 7 days a week via:
- Email – [email protected]
- Telephone number – +65 3158 8389
- Online callback form – Contact Us page
- Live chat, Telegram, Facebook Messenger, Skype, Whatsapp, and Viber – logos located in the bottom right-hand corner of the website
The customer support team can help with most queries, from how to delete an account and user verification to clarification on ECN commissions per lot and how to reset your investor password.
The head office address is 2118 Guava Street, Belama Phase 1, Belize
RoboForex Accepted Countries
RoboForex accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, Nigeria and most other countries.
Traders can not use RoboForex from United States, Canada, Japan, Australia.
Is RoboForex Legit?
RoboForex Ltd is a legit company registered in Belize and regulated by the International Financial Services Commission. As a result, it’s unlikely to be a scam. With that said, the broker does receive mixed reviews on websites such as Trustpilot.
Is RoboForex Scam?
From reviews gotten from existing brokers of RoboForex and reviews from other websites, RoboForex is unlikely to be a scam.
Is RoboForex accepted in Nigeria? No clear information was given on the website if it is accepted in Nigeria. But from existing users review, the platform is used by many Nigerians. Meaning you can sign up as a Nigerian.
RoboForex Minimum Deposit
- The minimum deposit on RoboForex depends on the account type: Pro-cent, Pro-standard and ECN: 10 USD / 10 EUR or equivalent in the account currency.
- Prime: 5,000 USD or equivalent in the account currency.
- R Trader: 100 USD / 100 EUli/li>
How can I open a RoboForex account?
To register on Roboforex: You can sign up for a real account by clicking Open An Account on the right-hand side of the website. You will then need to fill in your new member details to register your area login credentials. The verification stage will then complete the process.
How can I open a RoboForex Demo account?
Opening a demo account on RoboForex is the same steps as listed above.Visit the official website: www.roboforex.com and click on “Demo Account” You will then need to fill in your new member details to register your area login credentials. The verification stage will then complete the process.
To login to your RoboForex account, visit the website here www.roboforex.com/login and click on the sign in button to login to your RoboForex account..
Is RoboForex a Market Maker?
For all Cent accounts, RoboForex serves as the Market Maker. For all Standard and ECN accounts, the broker follows an STP model.
How To delete RoboForex account?
You can make your account inactive from within the members area. From the Account section, change the status of the account you want to remove to ‘no’.
How To deposit money / funds in RoboForex account?
You can deposit funds to your account using any payment system
- Go to “Deposit Funds” page
- Choose the account to deposit funds to from the dropdown list
- Choose the payment system
- Decide whether you want to deposit funds and receive the bonus funds or not and choose the percentage. Specify the amount and the currency Click “Deposit funds”
After that, there will be the second step of the depositing procedure, where you may be asked to specify some additional information according to the requirements of the chosen payment system.
How to withdraw funds from RoboForex trading account?
To withdraw from RoboForex, you can do that from your RoboForex account in your Members Area. To do this, follow the steps below:
- Go to “Withdraw Funds”. Make sure that the active account in your Members Area is the one you want to withdraw funds from.
- Choose the payment system from the list of available withdrawal options.
- Click “Go to”.
Depending on the chosen payment system, you may be asked to specify some additional information on the next page to create a withdrawal application.
Please note that withdrawal applications are processed by the Company within two business days from 9:00 AM to 6:00 PM (EET). In case of any questions at any step of the withdrawal procedure, please contact our Live Support.
How can I get Roboforex bonus?
Welcome bonus is available for Pro-Cent and Pro-Standard new account users. You’ll receive a welcome bonus of 30 USD after depositing a minimum of 10 USD via bank card. Cent and Standard users can also benefit from the 60% Profit Share Bonus, as well as up to 120% on deposits by claiming the Classic Bonus.
Conclusion: Roboforex Review (Scam or Legit?)
In this Roboforex trading review, I’ve shared with you everything you need to know about Roboforex trading platform if they’re real or fake. I’ve also answered questions like: How does RoboForex work? Is RoboForex a good broker and a lot more.
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