Review and Compare Brokers and Providers...

RoboForex Review

RoboForex Review

 

ROBOFOREX GENERAL INFORMATION

Found: ROBOFOREX was found in 2009

Headquarters: ROBOFOREX maintains headquarters in Belize

US Residents: ROBOFOREX does not accept US traders –No-

Islamic Accounts: ROBOFOREX provide Islamic Accounts, Instead of the swap, the owners of Swap-Free accounts are charged a fixed commission –Yes-

Regulated: ROBOFOREX is regulated by IFSC, license IFSC/60/271/TS

ROBOFOREX offer MT4 and MT5 WebTrader versionsWeb-Site Languages: English, Arabic, Chinese, German, Spanish, Russian, Indonesian, Italian, Malay, Portuguese, Polish, Thai, and more

■ Customer Support Languages: English, Chinese, Spanish, Russian, Indonesian, Malay, and Portuguese

 

ROBOFOREX TRADING INFO SUMMARY

■ Broker Type: ECN (DD/NDD)

■ CFD Trading: -Yes-

Platforms: MetaTrader4 (MT4) and a MetaTrader-5 (MT5), RoboForex RTrader, Copy-Trading

Trading Time Zone: GMT+2

■ Demo Account: Yes-

■ Typical Spread EUR/USD:

  • 1.4 pip (Standard account, no commissions)

■ Leverage: Leverage up to 2000:1

Scalping/Hedging: are both allowed at ROBOFOREX Yes-

■ Bonus: ROBOFOREX offer several types of credit bonuses and a $30 welcome bonus

■ Minimum Account: $10 (Cent Account) | $5,000 (Prime Account)

Visit the RoboForex Website

 

ASSET INDEX

RoboForex offer a wide asset index including several Forex pairs and cryptocurrencies.

□ ROBOFOREX offer over 40+ popular Forex Currencies

□ CFDs on Shares & Indices (more than 9,000 instruments, max leverage 20:1)

□ CFDs on Energies and Precious Metals

□ Bitcoin, Bitcoin Cash, Dash, Ethereum, and other cryptocurrencies

 

TRADING PLATFORMS & MOBILE

■ Roboforex offer MetaTrader4 (MT4) and a MetaTrader-5 (MT5), and RoboForex RTrader

Scalping, Hedging, and Automated Trading are all fully allowed

■ A demo account is available at ROBOFOREX

■ Copy-Trading Platforms

Roboforex offer CopyFX and RAMM platforms:

  • Copy single orders or entire copy trading strategies
  • Create trade strategies of cooperation with other traders

 

NEW ACCOUNT INFORMATION

The minimum initial deposit required for opening an account on ROBOFOREX is 10 USD

Account Currencies: USD, EUR, CNY, BTC, ETH, GOLD

TRADING ACCOUNT TYPES

In overall, there are five (5) main account types

Here are the (4) major Account Types when trading with ROBOFOREX:

 MAIN ACCOUNT TYPES Cent Pro Standard ECN Pro Prime
Min Deposit $10 $5,000
Minimum Spread (EURUSD) 1.3 pip 0.1 pip
Commissions NO

$4/lot commissions*

(*subject to change)

$4/lot commissions*

(*subject to change)

Leverage 2000:1 300:1 100:1
Promotions
  • Cashback (Rebates)
  • Welcome Bonus, Credit Bonus
  • Free VPS-Server
  • Free Contests
Account Currencies USD, EUR, CNY, BTC, ETH, GOLD
Automated Trading YES
Scalping/Hedging YES
Info: Find more about ROBOFOREX Accounts

 

ROBOFOREX DEPOSIT/WITHDRAWAL METHODS

ROBOFOREX Fund Methods:

Credit/Debit Cards (Visa / Mastercard / Maestro)

Bank Wire

■ Bitcoin & Bitcoin Cash

■ Ethereum & Litecoin

MoneyBookers Skrill

■ Neteller

■ CashU

■ giropay 

■ Liqpay

■ iDEAL

■ Perfect Money

■ UnionPay

■ WebMoney

-Very small withdrawal fees, but instant withdrawals

 

ROBOFOREX CORPORATE INFO

RoboForex Ltd is a member of the RoboMarkets/RoboForex group (website – rbfx.com), together with RoboMarkets Ltd (CySEC license No. 191/13) and RoboMarkets LLC (Certificate No. 15 dated 08.04.2019, issued by the National Bank of the Republic of Belarus).

RoboForex Ltd is regulated by the IFSC, license IFSC/60/271/TS. RoboForex Ltd, which is an "A" category member of The Financial Commission, also is a participant of its Compensation Fund.

Contact address: 2118 Guava Street, Belama Phase 1, Belize City, Belize

Contact telephone: +65 3158 8389

 

 

ROBOFOREX REVIEW PROS & CONS (According to competition)

ROBOFOREX REVIEW CONCLUSIONS

ROBOFOREX PROS

ROBOFOREX CONS

√ Tight spreads when trading Forex

√ 40+ Forex Currencies and more than 9,000 financial instruments

√ Cryptocurrency trading

√ Instant withdrawals via internet wallets (we tested via Skrill and Neteller)

√ Many different platforms, Automated Trading, Scalping, and Copy-Trading

√ Fast execution and a small minimum distance when placing a stop-loss order

X RoboForex credit bonus (works more as a liability to traders than an advantage)

X Expensive swaps, not good for swing and long-term traders


 RoboForex Review Conclusions

Launched in 2009, RoboForex is a DD/NDD Forex broker headquartered in Belize and regulated by IFSC, license IFSC/60/271/TS. The broker offers multilingual customer support via phone, live chat, and email. The ROBOFOREX asset index contains 40+ Forex Currencies, many shares, indices, precious metals, energies, and cryptocurrencies. As concerns trading platforms, ROBOFOREX offers MT4 and MT5 plus RTrader. There are mobile traders and 2 platforms for copy trading (CopyFX and RAMM platforms).

Trading Accounts

RoboForex offer many different account types. There are three simple accounts (Standard, Cent, ECN Pro) requiring just a $10 deposit and the Prime account type which requires a $5,000 minimum deposit. There is a wide selection of deposit methods including cards, wire, many internet wallets, and even several cryptocurrencies. The maximum leverage when trading Forex is 2000:1, which is reduced to 300:1 on ECN Pro and 100:1 on Prime Accounts. The account currencies include USD, EUR, CNY, BTC, ETH, and Gold.

As concerns trading promotions, there is a welcome bonus promotion, loyalty rebates, and free contests. There is also a $30 welcome bonus. From all that the only promotion that matters is the 'loyalty rebates'. Don't select any credit bonuses because they actually work as extra leverage, and nothing more. The RoboForex credit bonus is more like a liability than an advantage.

Tested Real RoboForex Trading Conditions

The tested account type was Standard Pro. The trading spreads start as low as 1.3-1.4 pip on EURUSD and the order execution is quite fast. After trading with RoboForex for a while, I must point out that the broker is suitable for intraday trading. The spreads are ok, the slippage is low and it is quite interesting that the minimum distance of placing a stop-loss is very tight. But note that these nice conditions may change significantly during a news release, and the slippage may be considerably higher. Another point I would like to make is that the SWAP interest rates charges are high and therefore I would not recommend RoboForex for swing, carry, and position traders. in overall, RoboForex is suitable for 'intraday' semi-advanced traders.

Visit the ROBOFOREX Website

 

L MORE REVIEWS

• COMPARE

Forex Brokers Comparison □ CFD Brokers     Expert Advisors (EAs)

• ECN BROKERS

 JustForex Review  IC Markets Review  FXTM Review FP Markets Review

 LQDFX Review

• STP BROKERS

► FBS Review ► IronFx Review  RoboForex

 FXCC Review

 

• MARKET MAKERS

 Capital        

 

ROBOFOREX.com Review

TradingCenter

Pin It

About TradingCenter

TradingCenter provides essential information and tools for learning and trading the Global Financial Markets. TradingCenter helps investors to improve their skills and their level of understanding regarding core mechanisms of the trading process.

© (2012-2020) TradingCenter.org by Qexpert.com

Search