Roboforex Review

Introduction

RoboForex is a forex broker that is regulated and has a vast client base of over 4.56 million individuals in almost 169 countries. With various accounts and assets it offers, it stands as one of the best forex brokers in the industry. RoboForex was established in 2009, with its headquarters at 2118 Guava Street Belama Phase 1 Belize City. It is regulated by the Financial Services Commission (FSC) in Belize and provides a Civil Liability insurance program (5,000,000 EUR) to protect its clients from financial losses.

Features Provided by RoboForex:

• Flexibility:

  On the RoboForex platform, traders of all skill levels are welcome. As an illustration, it provides instructions on how to start trading, demonstrating that even total beginners can use it. Also, the platforms are user-friendly.

• Trading Instruments:

  RoboForex offers its customers to choose from a variety of trading instruments. The R Trader platform, a top-notch trading ecosystem, is made available by RoboForex to investors in various trading styles. Also, The cTRader and the R Trader trading options offer advanced trading to all the clients of RoboForex. You can trade while on the go with R Mobile Trader. This app allows users to trade more than 100 instruments and is available on both iOS and Android.

• Assets:

  RoboForex allows trading on assets such as Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, and Metals. In forex trading, you get 40+ currency pairs to trade with. Also, you have access to more than 12,000 stock companies to trade in the stock market. All grown commodities such as coffee, cocoa, sugar, fruits, soybean, etc are provided to you by RoboForex. Furthermore, you can trade all precious metals such as gold, silver, platinum, etc.

• Educational Materials:

  In order to help traders understand how to get started trading in the simplest way possible, RoboForex provides articles and video tutorials on the fundamentals and technical knowledge of the market. Additionally, RoboForex offers guides on how to operate the system effectively. RoboForex also offers a blog section where internal experts discuss news events and trading strategies. Both novice and seasoned traders can benefit greatly from this blog. Before opening an account with the broker, you can also use demo accounts to practice. You can backtest your strategies on demo accounts to better understand how the real market works.

• Customer Support:

  RoboForex’s customer support team is available around the clock via email, social media, live chat, and WhatsApp messages. With three different email addresses—one for general inquiries, one for marketing, and one for partners—RoboForex customer support seems responsive. Additionally, you can call the RoboForex number or ask a question in a live chat on the broker’s website. Furthermore, clients at RoboForex have access to customer support in 12 different languages, including Arabic, English, Malaysian, Spanish, etc.

• Trading Platforms:

  Both MetaTrader 4 and MetaTrader 5, which are considered to be the industry standards for trading, are used by RoboForex. MT4 and MT5 are well-known for being fast and feature-rich platforms, with MT5 being the most widely used system on RoboForex. Other than the MetaTrader suite, RoboForex has a cTrader platform designed for experienced traders who prefer unconventional instruments and fast order execution speed. Furthermore, cTrader offers rare order types, 54 indicators, 14 timeframes, and Level II pricing.

• Trading Accounts:

  RoboForex trading accounts include ECN accounts, Prime accounts, R Trader accounts, Pro-Cent accounts, and Pro-Standard accounts.

• VIP Accounts:

  Only users who have a specific cumulative amount of money on their exchange accounts are eligible for RoboForex’s VIP client service. All the VIP clients will be offered services like high-leverage trading opportunities and enticing cashback offers.

• Payment Methods:

  RoboForex offers local and international bank deposits through card payments and e-wallets. The instant, commission-free transfer of funds into your RoboForex account is made possible by e-payment services like Skrill and Neteller. The clients of RoboForex also have access to 13 different types of withdrawal options.

Trading Conditions

Low commissions and tight spreads are available at RoboForex, starting at 0 pip. RoboForex’s minimum deposit requirement is 10 USD EUR for all account types except for R Stocks Trader Accounts. They require an initial deposit of 100$. With a Prime Account, the maximum leverage value rises to 1:300. However, the R Trader account’s minimum deposit is only $100 USD, which is surprisingly low by market standards. Additionally, all deposits and withdrawals through RoboForex are free of trading fees.

• Leverage:

  The Pro-Cent Account and the Pro-Traditional Account offer a maximum leverage of 1:2000. For the Prime account and the R Stock trader account the maximum leverage is 1:3000 and for the ECN account it is 1:500. Keep in mind that trading leveraged products like Forex/CFDs carry a significant amount of risk so always be careful. No doubt leverage is a lucrative tool but you may also lose money.

• Spreads:

  It is determined by the account types. The Pro cent and Pro accounts offer spreads floating from 1.3 pips. The R Stock trader accounts offer spreads floating from 0.1 pips. And the Prime and ECN accounts offer 0 pip spreads.

Pros of Trading with RoboForex

• Provides negative balance protection of funds
• Customer support is quite active and multilingual
• Offers a wide range of trading platforms
• Low minimum deposits
• Zero commissions on Pro Accounts
• Withdrawal and deposits are instant
• The trading conditions are fair
• Copy trading is available
• Swap-free accounts or Islamic trading accounts are available for Muslims

Cons of Trading with RoboForex

• Withdrawal is charged
• A small number of currency pairs for Pro-Cent, ECN, and Prime accounts
• No cryptocurrency tools on the R StocksTrader platform

Conclusion

Numerous awards that RoboForex has received suffice to establish the broker’s dependability. Overall, traders of all experience levels should consider using the RoboForex trading platform. You receive a variety of trading accounts and platforms. Additionally, you can access a variety of educational resources to expand your knowledge prior to participating in the real market.