- What is RoboForex?
- RoboForex Pros and Cons
- Is RoboForex Safe or a Scam?
- Market Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about RoboForex.
What is RoboForex?
RoboForex is a popular International Forex Broker recognized by the experts in the Financial Market, while operating since 2009 with service around the world. Throughout the history of its operation, the broker has served numerous clients around the world and gained recognition for its advanced trading proposal, also for its tailored conditions suitable for various styles, trading sizes, and portfolios.
Also, one of the greatest things RoboForex offers is a good range of trading software or platforms where you can select between industry-powerful MT5, MT4, cTrader, or R Stock Trader.
- There are numerous developed technologies offering good solutions for trading found, RoboForex conducts CopyFX – a copy trading project. Where Contests on demo accounts are held weekly and monthly while prizes are deposited to real trading accounts allowing to start a great trading carer.
What Type of Broker is RoboForex?
Based on our research, we found that RoboForex is a Belize-based Forex and CFD broker working with STP Trading model and execution, offering 8 asset types and more than 12,000 instruments for trading. Along with the most popular platforms in the industry, RoboForex provides many terminals for comfortable trading.
RoboForex Pros and Cons
RoboForex is considered safe for trading through an international entity. The broker has a long history of operation with an excellent reputation. At RoboForex, there is a good range of account types, trading platforms, free exclusive trading signals, and research tools, also powerful trading capabilities suitable also for advanced traders.
On the flip side, the trading fees may vary depending on the platform used and the account type, which might seem comlex. However, the company’s website contains detailed information on its conditions, enabling the analysis on your own. Also, RoboForex is based in Belize so we recommend verifying all safety rules since it is not top-tier regulation.
|Long regulated history of operating||Trading conditions may vary depending on the platform used
|Powerful trading capabilities and advanced software proposal MetaTrader, cTrader R SocksTrader|
|Wide range of trading platforms|
|Free trading signals and research tools|
|Competitive trading conditions|
|Good quality educational materials, and excellent research|
|Quality customer support with live chat and fast response|
RoboForex Review Summary in 10 Points
|📉 Instruments||8 Asset Classes with Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, and Metals |
|🖥 Platforms||MT4, MT5, R StocksTrader, cTrader|
|💳 Minimum deposit||$10 |
|💰 Base currencies||USD, EUR, CNY, GOLD|
|🎮 Demo Account||Available with Demo Contests|
|💰 EUR/USD Spread||from 0 pips|
|📚 Education||Detailed education with research and analytics|
|☎ Customer Support||24/7|
Overall RoboForex Ranking
Based on our Expert findings, RoboForex is considered a good broker with safe and very favorable trading conditions. The broker offers a range of trading services designed for both beginner traders and professionals with low initial deposit amounts.
- RoboForex Overall Ranking is 8 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Advantages||Platforms||Deep Liquidity||Low Deposit|
RoboForex Alternative Brokers
We learned that RoboForex offers a range of trading instruments, good trading conditions, and also low trading spreads and fees. However, there are a number of other brokers that offer similar services, also might be better regulated. Here are some of the best alternatives to RoboForex:
- Pepperstone – Low Spreads and Competitive Trading Conditions
- XM – Wide Range of Trading Opportunities
- FXTM – Good for Beginners and Good Fees
The broker serves numerous clients with around 1,000,000 traders, from 169 countries and provides support in more than 10 languages. Its focus is on developing trading offerings with innovative technology solutions and modern tools for trading.
All in all, RoboForex developments and offers have been recognized by more than 30 industry awards, along with the company’s regular sponsorships and global activities. RoboForex currently serves as the Official sponsor of Club Cienciano in the 2022/23 seasons and Muay Thai fighter Andrei Kulebin.
Is RoboForex Safe or Scam?
RoboForex is a regulated broker by the FSC license, which means that it can be considered a reliable and socially responsible broker. FSC Belize follows the international AML (Anti-money laundering) policy.
See our conclusion on RoboForex Reliability:
- Our Ranked RoboForex Trust Score is 8 out of 10 for good reputation and service over the years, also reliable top-tier license, and serving regulated entities in each region it operates.
|RoboForex Strong Points||RoboForex Weak Points|
|Regulated by FSC ||None|
|Participant in the Financial Commission Compensation fund|
|Negative balance protection|
|Execution quality certificate of a Verify My Trade
Is RoboForex Legit?
RoboForex Ltd is an international forex brokerage registered by the FSC, Belize under the number 000138/333, so is a legit firm.
- The broker has also received the Verify My Trade (VMT) execution quality certificate, confirming its compliance with the strict requirements of the Financial Commission for its broker members.
- RoboForex protects its clients’ funds from negative balances and has segregated bank accounts to secure their money.
- The broker Group is regulated and guarantees the security of clients’ funds, so it can be considered a safe choice to trade with
How Are You Protected?
RoboForex keeps its clients’ funds separate from the Company’s funds, thereby guaranteeing that they are protected from unlawful use. The company is also a participant of The Financial Commission’s Compensation Fund which is used in the unlikely event of the Company’s failure to fulfill its obligations.
- In addition, RoboForex implemented a Civil Liability insurance program for a limit of 5m EUR, which includes market-leading coverage against fraud, errors, negligence, and, or other risks that may lead to financial losses of clients.
So if you adhere to using high leverage levels with the purpose to maximize your gains, RoboForex definitely will assist you. Leverage may increase your potential gains timely through its possibility to multiple initial accounts, yet make sure to learn how to use leverage correctly, as leverage may increase your potential losses too.
- Trading RoboForex Leverage allows you to apply for leverage at 1:400, 1:500, or even a maximum of 1:2000.
RoboForex designed 5 account types in order to suit the different needs and requirements of its clients: you can use USD, EUR, CNY, and GOLD as your account base currency.
- The list of available account types includes Cent accounts which is a great option if you want to start using robots in your everyday trading. RoboForex also offers Prime and ECN account types with premium conditions.
It is a fact the beginning either sophisticated professional will find the correct conditions to apply with RoboForex with our opinion, along with Islamic traders who are able to apply for swap-free account.
|Fast account opening||None|
|Account types suitable for various trading sizes or styles |
|Islamic and Cent Accounts available|
|Account base currencies USD, EUR, CNY, GOLD|
How to Trade in RoboForex?
Starting to trade with RoboForex, you will first need to open an account and deposit funds. The process is simple and can be done entirely online. Once your account has been approved, you can then make a deposit using one of the many methods available. Based on our research we found out that RoboForex offers user-friendly platforms with all the tools and resources you need to trade successfully.
How to Open RoboForex Live Account?
Opening an account with RoboForex is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on RoboForex Open an account page.
- Enter the required personal data (Name, email, etc.)
- Verify your personal data.
- Once your account is activated and proven, follow with the money deposit.
Based on our research, we found that the market range includes the world’s key markets with 8 asset classes alike Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals.
- RoboForex Markets Range Score is 8.3 out of 10 for wide trading instrument selection among Forex, Stocks, Indices, and more.
We find it good that RoboForex trading costs are based on institutional tight spreads from 0 pips and available through fast order execution developed by the technology, 4 account currencies along with micro accounts, as well as numerous investment programs.
- RoboForex Fees are ranked average with an overall rating of 8.2 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on platforms, see our findings of fees and pricing in the table below, however, RoboForex overall fees are considered good.
|Fees||RoboForex Fees||FxPro Fees||Pepperstone Fees|
|Fee ranking||Low||Low, Average||Low|
* Twice a month due to the Free fund withdrawal program
Based on our Expert findings, we learned that RoboForex spreads depend on the account type you choose, so be sure to check out the trading conditions. The minimum spread is 0 pips.
- To get a better understanding of the spread, we will review the Pro account fee conditions, where the costs are built into a floating spread from 1.3 pips with no additional charges, and a BitCoin vs US Dollar average spread of 146.94. Also, below we compare RoboForex to other popular CFD brokers.
- Similarly, Cent Account fees offer lower-size trading with a spread from 1.3 pips; while R StocksTrader, ECN, and Prime accounts are based on an interbank spread from 0 pips and commission charge as a cost, e.g. on an ECN account, you will pay 20 USD to million traded for GBPUSD pair or similar.
Also, always consider the rollover or overnight fee as a cost. which is about -0.6 for short positions on Eur/Usd and -0.052 for long ones held longer than a day.
- RoboForex Spreads are ranked low with an overall rating of 7.8 out of 10 based on our testing comparison to other brokers. We found Forex spread within the industry average for Standard account and even better for higher account grades which is overall good
|Asset/ Pair||RoboForex Spread||FxPro Spread||Go Markets Spread|
|EUR USD Spread||1.4 pips||1.4 pips||1.8 pips|
|Crude Oil WTI Spread||5.2 pips||64 pips||5.3 pips|
|Gold Spread||17.54 pips ||34 pips||3.8 pips|
Deposits and Withdrawals
We learned that all money management and transaction are performed via the online account area, which is very comfortable, where you can request a withdrawal check for its processing status, and deposits money as well.
- RoboForex Funding Methods we ranked good with an overall rating of 8.2 out of 10. The minimum deposit is among average in the industry, yet fees are either none or very small also allowing to benefit from various account-based currencies.
Here are some good and negative points for RoboForex funding methods found:
|RoboForex Advantage||RoboForex Disadvantage|
|Fast digital deposits, including Skrill, Neteller, and Credit Cards||Some of the methods apply an additional fee for withdrawal|
|No internal fees for deposits and withdrawals|
|$10 is a first deposit amount|
|Withdrawal requests confirmed within two business days|
|Multiple account base currencies
|Twice a month due to the Free fund withdrawal program|
In terms of funding methods, there are over 20 options of available payment methods, allowing to transfer money with convenience, and these include:
- Bank transfers
- Card payments
- Vast of e-wallets like Skrill, Neteller, POLi, FasaPay, and more
RoboForex Minimum Deposit
RoboForex minimum deposit is $10 for the live account of first grade – Pro-standard or Pro-cent.
At the start, you may choose the level of your account while opening, and at the beginning, you may trade for free with a Demo account.
However, of course, make sure to verify margin requirements and conditions for the instrument you are willing to trade, as at some point $10 simply may not be enough for your strategy.
RoboForex minimum deposit vs other brokers
||Most Other Brokers
We learned that RoboForex implements a 0% commission policy for deposits and many of withdrawals where all expenses are covered by the broker. RoboForex withdrawal options are good and include Bank Wire or Credit Cards.
Yet, check carefully since some of the methods apply an additional fee for withdrawal, e.g. Skrill and AdvCash add on a 1% processing fee, while Visa withdrawal adds 2.6% +1.3USD.
How Withdraw Money from RoboForex Step by Step:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
As a technology-driven broker, RoboForex Platforms offering a truly wide range of platforms to choose from, that allows you to advance and suit any trading demands and comply with your style. The main offering known for its productivity is – MT4 and MT5 platforms, while traders can also selecct cTrader, or RoboForex-developed exclusive platform R Web Trader and R Mobile Trader.
- RoboForex Platform is ranked Excellent with an overall rating of 8.9 out of 10 compared to over 500 other brokers. We mark it as excellent being one of the best proposals we saw in the industry, and a great range including MT4, MT5, and cTrader suitable for professional trading. Also, all are provided with good research and excellent tools.
Trading Platform Comparison to Other Brokers:
| Platforms||RoboForex Platforms||FxPro Platforms||Pepperstone Platforms|
Web Trading Platform
All offered platforms inlcuding MetaTrader and cTrader are available via web versions and desktop ones for more comprehensive analysis and tools bars suitable for professionals or day traders.
We learned that together with desktop platforms, you can benefit from the R StocksTrader Strategy builder, a free and convenient tool , available for traders with the purpose to automate performance, which is a great solution since doesn’t require to have any programming skills.
- Indeed, both offer full control over positions and orders, featuring the same functionality with the fastest in industry charts and advanced analysis tools, also designed with a clear and clean view.
- MT4 is the most popular platform, which includes advanced chart features along with robots and indicators, that allows any trading strategy. One of the main factors within the platform is allowing it to perform powerful technical analysis.
- In case you prefer the latest version of MetaTrader, MT5 will allow the choice between net and hedge systems through 4 types of executions. In addition, MT5 features comprehensive analysis tools and market depth.
Based on our research we found that the broker has built customized tools and solutions for investments, thus you may choose either Copy Trading or getting the solution for market professionals. CopyFX platform is perfect for an easy yet reliable investment among over 9,000 traders.
The broker runs 24/7 customer service available via Live chat, emails, and international phone lines, also proposing callback service and supporting in more than 10 languages.
- Customer Support in RoboForex is ranked Excellent with an overall rating of 9.2 out of 10 based on our testing. We got fast and knowledgeable responses, also quite easy to reach during the working days, which is highly good
See our find and Ranking on Customer Service Quality:
|Relevant answers |
|Live Chat, and International Phone Lines
|Supporting numerous languages|
Based on our research, we found that RoboForex offers educational and analysis features together with research tools and materials that are especially essential for beginners.
Also, there is access to the various educational resources available. Also, as we already mentioned, you can polish your skills and participate in trading contests, which also increases your level and allows you to develop skills. Market analysis, technical analysis, professional trading analytics, and a range of trading tools are available via the Members Area.
Besides, traders get access to transaction and trading history for up to 1 year and great research tools including a news feed, calculators, a strategy builder, and trading ideas; all this is provided on the platforms, together with very powerful features.
- RoboForex Education ranked with an overall rating of 7.8 out of 10 based on our research. The broker provides good quality educational materials, and excellent research also cooperates with market-leading providers of data.
RoboForex Review Conclusion
Concluding the RoboForex review, we admit a safe broker offers quality trading solutions. RoboForex provides expanded trading strategies and a certain way of dealing with markets and traders that gained a reliable and respected reputation.
We learned that RoboForex’s flexibility in terms of platforms, currency pairs, and a number of provided solutions is another key advantage to its positive side. The broker offers good educational materials and research tools suitable for traders of different levels.
Based on Our findings and Financial Expert Opinions RoboForex is Good for:
- Advanced traders
- Traders who prefer MT4/MT5 and cTrader platforms
- Currency and CFD trading
- Variety of trading strategies
- Algorithmic or API traders
- Supportive 24/7 customer support
- Good educational and research materials