Ultima modifica: 29 Dicembre 2024

RoboForex Review 2024: Pros and Cons

roboforex review

For a relatively old company, RoboForex is running some of the most lucrative deposit bonus programs in the market. While it may appear to give a signal that their business is failing to attract customers with traditional marketing means, we found that it is a temporary measure to increase their exposure among Forex traders. Our cTrader Broker Index looks at a broker’s overall capacity at providing the best quality service with the cTrader platform. While we consider RoboForex to be a very strong broker in a lot of areas, they neglect to extend their strengths to cTrader users. As RoboForex are regulated in Belize and Cyprus they have strong global coverage. The jurisdictions they prohibit are pretty standard in the industry.

Which is the safest forex broker?

  • Best Overall: IG.
  • Best for Low Costs: XTB.
  • Best for Beginners: AvaTrade.
  • Best for Advanced Traders: Pepperstone.
  • Best for Active Traders: CMC Markets.
  • Best for Mobile: FOREX.com.
  • Best for U.S. Traders: tastyfx.
  • Best for Trading Experience: CMC Markets.

Besides credit and debit cards like Visa and Mastercard, they accept niche bank cards like China UnionPay as well. All three platforms offered by RoboForex come with respective Android and iOS apps for smartphones and tablets. Hence, you can easily access your RoboForex trading account on the go from your phones and mobile devices.

Metals Trading

It is registered in the Island nation of Belize, which is a major offshore financial hub https://traderoom.info/what-to-expect-from-roboforex-broker/ with a strong financial sector. RoboForex’s office is located at 2118 Guava Street, Belama Phase 1, Belize City, Belize. If you deposit over 300 USD you will become eligible for a free VPS. However, the server specification that they offer doesn’t meet the minimum requirements for cTrader. As our RoboForex.com review learned, the total number of tradable assets is 36 currency pairs, Gold and Silver. We’ll discuss this further down below, but it’s worth noting that you can easily diversify your portfolio with this asset pool.

roboforex review

RoboForex Review: Detailed Analysis & Insights

GMI Markets is an intriguing online trading broker with a range of offerings, but also an array of questions surrounding its operations. Educational mainly emphasizes on FAQs section and offers little information about actual trading, but diverse resources and articles on how to open a trading account and operate it. The commissions are among the lowest in Forex markets when it comes to RoboForex. There is a commission charged for withdrawing money but it is just 0.5% which is a relatively low number. When it comes to making deposits and withdrawals on your account, there are dozens of methods to choose from, whether it’s banking methods, credit cards, or e-wallets. For the purposes of this review, we found the customer support responsive and polite.

roboforex review

RoboForex Account Opening Process

RoboForex is a financial brokerage company offering Forex Trading services via MetaTrader 4, MetaTrader 5, R WebTrader, R MobileTrader, R StocksTrader trading platforms. Regarding orders execution model, RoboForex is a hybrid broker – both a-book and b-book broker (market maker). RoboForex offers trading of Stocks, Indices, ETFs, Currencies, Commodities, Energies, Metals, CFDs on futures. RoboForex cTrader accounts types are called Pro-Standard and ECN-Pro NDD. Even though RoboForex does have many account types and unique selling points for each, sadly not many are available on cTrader. These benefits are dispersed across their different trading platforms.

  1. RoboForex publishes daily and weekly market breakdowns that inform day traders of currently unfolding opportunities.
  2. In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection.
  3. As an “A” category member, traders who have accounts with RoboForex become entitled to protection up to € 20,000 per case in case the broker refuses to adhere to judgments from the Financial Commission.
  4. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
  5. However, the app also feels cumbersome, and I found it unsuitable for price action examination.

RoboForex Review – The Broker with Multiple Platforms and Accounts

Additionally, traders should be aware that RoboForex charges high withdrawal fees. RoboForex does not accept clients from certain jurisdictions due to regulatory restrictions. These countries include the USA, Canada, Japan, Australia, and some others. For a complete list of prohibited countries, traders should refer to the RoboForex website or contact their customer support for more information. A 15% cashback is available to all verified trading accounts with a minimum trading volume of 10 lots per month.

Throughout its services, Broker remains a trusted online trading platform with a major emphasis on security in trading conditions and transparency in pricing policies. Most of the Real Traders reviews are positive, marking the excellence of the trading environment and overall trading experience. These findings show that RoboForex is a reliable, solid broker suitable for long-term cooperation and investment.

RoboForex offers commission-free trading and varied spreads on its Pro account. The broker does not charge an inactivity fee for dormant accounts, and it also does not have a handling fee for deposits and withdrawals. Taking into account the needs of nowadays traders, RoboForex developed trading platforms especially for its clients.

  1. Every first and third Tuesday of every month, the broker offers cost-free deposits and withdrawals.
  2. Traders need to know the difference between their and the broker’s responsibilities.
  3. RoboForex offers dozens of deposit and withdrawal methods available in 9 different currencies, including USD, EUR, and GBP.
  4. Since 2023, RoboForex has offered its clients the opportunity to trade CFDs on futures on the MetaTrader 4/5 and R StocksTrader platforms.
  5. Please note that equity markets open and close each trading and are not operational continuously like Forex.
  6. Also, the so-called Tradable (up to 50%) bonus is available to all who have a drawdown, which means that your account balance can be below the bonus amount, and you will still get it to boost your trades.

He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. RoboForex’s trading fees on its Prime and ECN accounts beat the industry average. The broker incorporates the standard suites of MT4 and MT5, which can be enhanced with add-ons, and it also offers its proprietary R StocksTrader platform. Lately, we have seen less and less brokers offering a full bonus policy, but RoboForex has multiple bonus offers for its traders.

The second being that RoboForex is an international broker regulated in Belize, which means higher leverage can be offered. Whereas, RoboMarkets is a European broker regulated by CySEC and has very strict leverage restrictions imposed. There are mobile versions for iPhone and Android available for download.

This obscures price action behavior and makes it more difficult to conduct probing technical analysis. The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. Deposits and withdrawals are free on the first and third Tuesdays of every month. Otherwise, RoboForex clients may be liable for a handling fee, depending on their chosen payment method.

Who is the No 1 forex trader?

1. George Soros. We start our list of the best Forex traders in the world by looking at one of the most legendary figures in Forex trading history, George Soros. In any debate over who is the greatest Forex trader of all time, Soros is likely to feature prominently.