RoboForex: Test and User-ratings

RoboForex user-ratungs $10
10/10
10 of 10 points 1 reviews
  • Asset varierity - 10/10
    10/10
  • Trading platform - 10/10
    10/10
  • Support - 10/10
    10/10
  • Fees - 10/10
    10/10
  • Deposit/Withdrawal - 10/10
    10/10

Facts about the company:

  • Type: Forex and CFD broker
  • Regulation: IFSC (BZ)
  • Minimum deposit: 10 dollars
  • Demo account: free
  • Markets: 9400+ Forex, CFD’s, ETF’s, shares, indices, cryptocurrencies, crypto indices, commodities
10/10
Comments Rating 10/10 (1 review)

Pros

  • Offers not only one but two free demo account versions
  • The minimum deposit of 10 dollars is relatively low
  • Offers a vareíety of trading options
  • High leverage for everyone
  • Promotions can be obtained
  • Access to educational material

Cons

About RoboForex

The online broker RoboForex LTD was founded in 2009 and is part of Robo Forex Group Holding. RoboForex’s headquarters are located in Belize, a Central American country. Since its foundation, the company has seen a constant increase in the number of clients. While the online broker broke the “1 million” mark in 2015, by 2019 there are already over 2.3 million registered trading accounts.

RoboForex has also continued to expand the range of tradable instruments it offers. After adding six different asset classes with 8,000 trading instruments to the portfolio between 2016 and 2017, the total number of tradable instruments in 2018 was 9,400. Since its inception, RoboForex’s mission has been to provide its clients and trading partners with the best possible trading environment.

RoboForex Awards

In recent years, the online broker RoboForex has also received numerous awards.

RoboForex has even received several awards within this year, including “The best forex broker for automated trading” and “Fastest Growing ECN Broker Eastern Europe”. In the years that followed, a series of further awards followed. The awards “The Best ECN Broker” (at the IAFT Awards 2016), as well as “Safest Broker” (at the London Investor Show 2018) and “Best Crypto Broker” (at the Manchester Investor Show 2018) are worthy of special mention.

Regulation and deposit insurance

The Online Broker is licensed by IFSC Belize (International Financial Services Commission Belize) for “trading in derivative financial instruments and commodity-based derivatives and other securities”. The IFSC serves as the regulatory authority in Belize, which is responsible for the financial market on a global level.

The authority’s responsibilities include the granting of IFSC licenses and the monitoring of the financial services offered. This ensures that licensed companies operate in a transparent and reliable manner. These companies must meet a number of strict requirements before they can be licensed by the authority. Apart from this, IFSC Belize also operates in accordance with the guidelines for the “international fight against money laundering”.

The Online Broker is also a member of The Financial Commission (TFC), which is responsible for resolving disputes between companies and their customers.

An important regulation of this financial commission consists, among other factors, in the protection of customer deposits. This compensation fund offered by the TFC protects customer deposits up to a sum of 23657 dollars in the event of company insolvency. In the course of this, RoboForex also has a corresponding quality certificate called “Verify My Trade”, which confirms that the finance commission’s requirements are met by its members.

Tradable markets and RoboForex fees

Next, let’s take a look at the trading instruments that investors can use at RoboForex. The online broker has significantly increased its portfolio in recent years and now offers its clients a wide range of different tradable instruments.

Forex
Initially, customers can trade on the Forex market 24 hours a day from Monday to Friday. With a transaction volume of five trillion US dollars a day, it is not for nothing that it is called the market with the greatest liquidity.

General conditions:

  • Currency pairs can be traded as low as 0.0 pips
  • Clients can trade on RoboForex with leverage of up to 1:2000 regardless of their account
  • The execution of orders starts from 0.1 seconds and is therefore faster than average
  • RoboForex offers over 40 different currency pairs, including the popular major currency pairs

Shares
With a selection of over 9,400 CFDs on stocks of many large forms, RoboForex is very broadly based in this area. Besides the giant companies Amazon, Google, Facebook & Co., clients can also invest in many other international companies from England, Germany, the USA, etc.

General terms and conditions:

  • RoboForex provides its clients with efficient tools for technical analysis, which can be used for example to perform online quotations
  • Shares can be traded with a leverage of up to 1:20
  • Clients can automate their trading activities by setting up trading robots.

Indices

Indices are composed of several different stocks and reflect their price developments. RoboForex also offers comparatively good trading conditions.

General Conditions:

  • Indices can be traded with very tight spreads starting from 0.0 pips and without margin
  • The high execution speed from 0.1 seconds is also worth mentioning here
  • More than ten different indices can be traded on RoboForex

Cryptocurrencies

After significant price developments in cryptocurrencies in recent years, RoboForex now also offers the possibility to trade digital currencies. In addition to the popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple, the online broker offers many other interesting digital currencies.

General terms and conditions:

  • RoboForex offers its clients a choice of CFDs on 26 different cryptocurrencies
  • Trading with digital currencies is possible 24 hours a day, 7 days a week
  • Cryptocurrencies can be traded with a leverage of up to 1:50

Apart from the normal trading of cryptocurrencies, RoboForex also offers the possibility to invest in crypto indices. With Crypto.TOP and Crypto.ALT, the online broker offers two proven trading instruments in this context.

Commodities

Agricultural commodities as well as metals and oil can also be traded at RoboForex.

General Conditions:

  • Agricultural commodities can be traded up to a leverage of 1:20
  • RoboForex offers its clients a choice of over 100 different agricultural commodities and over 20 different trading instruments in the metals sector
  • Leverages of up to 1:100 are possible for tradable energies (crude oil, natural gas, ethanol)

ETFs

Clients can also diversify their own portfolios with ETFs. The ETF market is also currently subject to constant growth. According to numerous forecasts, it is continuing to expand and the market is expected to grow between 15 and 30 percent annually.

General conditions:

  • ETFs can be traded with very narrow spreads starting at 0.0 pips
  • ETFs can be traded up to a leverage of 1:20
  • RoboForex users have access to more than 1,000 different ETFs

What trading platforms are available at RoboForex?

In the area of trading platforms, the online broker has five different options to choose from. These include the classic and proven online platforms MetaTrader 4 and MetaTrader 5, as well as the platforms cTrader, R Trader and RoboForex Terminals. The offered platforms will be briefly introduced in the following.

MetaTrader 4

Not without reason MetaTrader 4 is the most used online trading platform in the trading area. The integrated functions and tools have a significant added value for both beginners and advanced traders. Some of the special features of MT4 include the following:

  • With MetaTrader 4 there are three different types of order execution
  • Valuable time can be saved with 1-click trading
  • 50 indicators can be used for technical analysis
  • The software provides basic tools for graphical analysis
  • Customers can program an individual trading robot with MT4 (MQL 4)

In addition, a mobile MT4 version is also available, allowing investors to trade anytime and anywhere.

MetaTrader 5

RoboForex also offers the advanced trading platform MetaTrader 5 as the successor of MT4. MT5 offers some very advanced technologies and features for setting up trading robots and trading strategies. The advantages and features of MetaTrader 5 are as follows:

  • With MetaTrader 5 there are four different types of order execution
  • Six different types of outstanding orders are offered
  • With its netting and hedging systems, it’s the market depth and the separation of orders and transactions, MT5 offers a flexible trading system
  • Over 1,500 Expert Advisors and technical indicators

And the MT5 trading platform also provides a mobile terminal.

cTrader

The cTrader trading platform is especially suitable for more advanced investors who value high-speed order execution. The platform also offers alternative instruments for the development and implementation of trading strategies. cTrader distinguishes itself especially by the following features:

  • cTrader provides its users with rare order types
  • 54 different technical indicators are integrated
  • 14 selectable time frames
  • Nine different types of interactive charts
  • Creation of an individual list with preferred instruments possible

The mobile application of cTrader is also equipped with some helpful features

All unlimited possibilities of the cTrader terminal in an iOS/Android-based mobile application. The mobile operating system interface is available in 22 different languages and also offers user-friendly chart management. Additionally, important notifications are sent directly in the application.

R Trader

The “Multi-Asset-Terminal R Trader” combines state-of-the-art technologies and simple design. Traders can access all financial markets worldwide via a single web terminal.

  • Easy to use user interface
  • The minimum deposit is $100
  • R Trader offers “extended watch lists
  • Construction kit for trading robots as a helpful tool for the automation of trading
  • 1-click trading and direct trading from the chart possible

RoboForex Terminals

RoboForex Terminals describes the web terminal R WebTrader as well as the mobile application R MobileTrader and is particularly suitable for investors who spend most of their time on the move. It is not an own platform, but an application that allows trading on the MT4 platforms with the most modern tools. These tools include:

  • A selection of 13 technical indicators
  • 9 Tools for graphical analysis
  • User accounts can be managed easily
  • The analysis provided by RoboForex experts
  • The application is free of charge

Users can use the web platform or the mobile application as they wish. This allows a quick change between accounts, which is even easier than in the MetaTrader 4 platform. Switching between different accounts takes only two seconds. Even opening a completely new account takes only about five minutes.

Account types and RoboForex fees

RoboForex is also very broad in terms of the choice of account types and offers its users a range of options depending on their individual needs. For this reason, we will briefly introduce the types of accounts available and their fees.

Pro Standard

The Pro Standard Account is the most popular account option with the online broker RoboForex. This account is suitable for both beginners and experienced investors in the financial markets.

Minimum first deposit12 Dollars
Account currenciesUSD, EUR, CNY, BTC, ETH, GOLD
Tradable markets36 currency pairs, commodities, CFDs, cryptocurrencies
Required margin (base currency units)1%
Spreadvariable spread from 1.3 pips
Maximum leverage1: 2,000
Minimum order volume0.01 lots
Withdrawal costsNo
Selectable platformsMT4, MT5, cTrader, WebTrader
CommissionNo

ECN-Pro

The ECN-Pro account is particularly suitable for advanced traders who want to benefit from the best trading conditions and very low spreads.

Minimum first deposit12 Dollars
Account currenciesUSD, EUR, CNY, BTC, ETH, GOLD
Tradable markets36 currency pairs, commodities, CFDs, cryptocurrencies
Required margin (base currency units)3.33%
Spreadvariable spread from 0.0 pips
Maximum leverage1: 300
Minimum order volume0.01 lots
Withdrawal costsNo
Selectable platformsMT4, MT5, cTrader, WebTrader
Commission$ 20

Prime account

The selectable account type Prime is usually reserved for experienced investors who want to take advantage of the optimal features of ECN accounts.

Minimum first deposit$ 5,000
Account currenciesUSD, EUR, CNY, BTC, ETH, GOLD
Tradable markets28 currency pairs, commodities, CFDs, cryptocurrencies
Required margin (base currency units)10%
Spreadvariable spread from 0.0 pips
Maximum leverage1: 100
Minimum order volume0.01 lots
Withdrawal costsNo
Selectable platformsMT4, WebTrader
Commission$ 15

Per cent account

In the Pro-Cent account, traders can first try out their new strategies with small sums.

Minimum first deposit12 Dollars
Account currenciesUSD, EUR, CNY, BTC, ETH, GOLD
Tradable markets36 currency pairs, commodities, CFDs, cryptocurrencies
Required margin (base currency units)0.1%
Spreadvariable spread from 1.3 pips
Maximum leverage1: 2,000
Minimum order volume0.1 lots
Withdrawal costsNo
Selectable platformsMT4, MT5, WebTrader
CommissionNo

R trader

The R Trader combines a timeless design with a high level of user-friendliness and with state-of-the-art technology.

Minimum first deposit$ 100
Account currenciesUSD, EUR
Tradable marketsOver 9,400 stocks, indices, forex, ETFs, cryptocurrencies
Spreadvariable spread from $ 0.01
Maximum leverage (during the trading session)1: 200
Maximum leverage (before or after the trading session)1: 4
Minimum order volume1 share
Withdrawal costsNo
Selectable platformsR trader
Commission$ 0.015 per share

Demo account

A demo account is particularly suitable for testing new trading strategies without having to take any financial risks. In addition, users can also familiarize themselves with the conditions of real money accounts. In the course of this, RoboForex even offers two different types of demo accounts, firstly a demo pro and secondly a demo.

Demo ProDemo
Tradable markets36 currency pairs, commodities, CFDs, cryptocurrencies36 currency pairs, commodities, CFDs, cryptocurrencies
Required margin (base currency units)1%3.33%
Spreadvariable spread from 1.3 pipsvariable spread from 0.0 pips
Maximum leverage1: 2,0001: 500
Minimum order volume0.01 lots0.01 lots
Selectable platformsMT4, MT5, cTrader, R TraderMT4, MT5, cTrader, R Trader

Deposit and withdrawal at RoboForex

If you as a customer would like to make a payment to or withdraw from your own account, RoboForex offers a number of different payment methods. In addition to classic bank payments, the online broker also offers a variety of electronic payment options. For the sake of clarity, these should then be shown in a table. The same conditions apply to deposits and withdrawals by bank payment.

Payment methodfeeCurrencyProcessing time
GiroPayNoEURfrom 1 minute to 1 day
IMMEDIATELYNoEURfrom 1 minute to 1 day
Rapid transferNoEURfrom 1 minute to 1 day
TrustlyNoEURfrom 1 minute to 1 day
VISA / Mastercard2.6% + 1,2 dollarsUSD, GBP, EUR, CHFDeposit immediately, payout 1-10 banking days

However , the conditions differ slightly for electronic payment methods . The fees incurred always relate to the payment process.

Payment methodfeeCurrencyProcessing time
Skrill1%EUR USDDeposit immediately, withdrawal up to 1 day
Neteller1.9%EUR USDDeposit immediately, withdrawal up to 1 day
WebMoney0.8%EUR USDDeposit immediately, withdrawal up to 1 day
Perfect money0.5%EUR USDDeposit immediately, withdrawal up to 1 day
AdvCash1%EUR, USD, RUB, KZT, UAH, GBP, BRLDeposit immediately, withdrawal up to 1 day

Promotions at RoboForex

Now we come to another special feature of RoboForex. The website offers some interesting promotions from which the clients of the online broker can benefit.

Profit Share Bonus

First of all, the profit share bonus must be mentioned here. With this promotion, customers can increase the amount made on their first deposit by up to 50% after opening an account. The amount of this profit share bonus depends on the amount of the deposit. Up to a deposited amount of 300 US dollars, customers receive a bonus of 25%, and from 300 US dollars upwards, a full 50% on the deposited capital. However, the Profit Share Bonus only applies to the Pro-Standard and Pro-Cent account types on the MT4, MT5, and WebTrader trading platforms. With the bonus received, customers can then, for example, reduce the loss of their own capital or increase their own positions.

Cashback (Rebates) Service

The campaign called Cashback offers users another interesting opportunity to generate additional income. Moreover, this is possible on all types of RoboForex accounts available on the MT4, MT5, cTrader and RAMM trading platforms. As a customer you will be remunerated monthly according to the “volume of closed positions”. And since these are remunerations and not bonus funds, they can be used as you wish and without any restrictions.

In the following diagram, the percentage remuneration depending on the monthly trading volume is briefly shown.

Percentage on the account balance

In addition, RoboForex offers its clients a regular additional income of up to 10 percent on all available account types. Again, this is not a bonus, but a remuneration that the client can freely dispose of. The prerequisite for this percentage is a certain trading volume, which must be made by the customer in order to receive this remuneration. The amount of the additional account balance depends more precisely on the traded lots as follows.

  • 2.5% for 1 – 10 lots
  • 5% for 10 -1000 lots
  • 10% for more than 1000 lots
  • Free VPS Server

RoboForex’s VPS servers are especially useful for those clients who have automated most of their trading systems and therefore need an optimal connection to the trading servers. This service can be used by all verified clients with a minimum of 300 USD on the trading account.

The VPS servers allow the permanent use of Expert Advisors without the need to switch on the device. Moreover, the trading process is not influenced by your own Internet connection, as the VPS servers always ensure an optimal connection.

Education at RoboForex

RoboForex also offers interested investors and clients a number of opportunities for further education. In addition to a clear FAQ register, which clarifies basic questions regarding trading at RoboForex, there are also a number of training videos from which users can benefit. The analysis center videos provided by RoboForex are designed primarily for beginners in trading. The tutorials focus on the basics of trading and various areas of technical and fundamental analysis.

Apart from that, viewers can also find helpful information on risk management and psychological aspects of trading. In addition, the videos are available free of charge for registered users in the customer area.

Customer service at RoboForex

At this point, we would like to briefly mention the customer service at RoboForex. With ten different languages, RoboForex’s customer service is relatively broad. Support can be provided by phone, e-mail, Whatsapp or live chat on the website. In addition, support is available 24 hours a day, 7 days a week to answer customers’ questions and concerns.

Support available:24/7
Telephone:+65 3158 8389
Address:info@roboforex.com
Languages:10 languages

The service team usually responds quickly and is available to provide a competent answer.

Conclusion

The experience reports on the online broker RoboForex on the Internet are largely positive. The large range of trading instruments and the fair conditions are particularly positive. The large selection of different account types and different trading platforms at this online broker is also interesting. And not to be forgotten are the attractive promotions and bonus programs that RoboForex clients can benefit from.


Most asked questions

Where is RoboForex based?

The online broker has its headquartes in the Central American country of Belize and was founded in 2009. The number of trading accounts has steadily increased over the years.

Does RoboForex offer a free demo account?

Indeed, it does. RoboForex does not only provide you with one but two different opportunities to try out their trading services. The demo account types are called “demo” and “demo pro”.

What is noticeable about RoboForex?

The online broker offers not only free educational material such as specialized videos but also a multitude of promotions. To name only a few one should know about the cashback (rebates) service and the profit share bonus.

Is RoboForex to be trusted?

Since this broker is regulated by the International Financial Services Commission Belize and also is involved as a member of The Financial Commission (TFC), customer deposits are protected. Furthermore, the aim of the TFC is to resolve disputes among customers and the according company.

One Response

  1. Andre Witzel September 8, 2020

Leave a Reply

User Review
  • Sending
    Asset varierity
  • Sending
    Trading platform
  • Sending
    Support
  • Sending
    Fees
  • Sending
    Deposit/Withdrawal