RoboForex – Forex Broker review

RoboForex – Forex Broker review
3.3 (66.67%) 6 votes

Read RoboForex forex broker review, rating and detail information for their services below. RoboForex founded in 2009 operated by RoboForex Group. They are based in Cyprus and their head office is located at Soboh House 377, 28th October Street, office #1, Limassol. They also have their office in Belize City.

Regulation

Roboforex logoRoboForex is regulated by the Cyprus Securities Exchange Commission (CySEC), Cyprus. It has license under the Cyprus Investment Firm (CIF) license number 191/13. Also, RoboForex authorized by Markets in Financial Instruments Directive (MiFID). Because of that, RoboForex is authorized for entire Eurozone. Furthermore, RoboForex is also regulated by Belize International Financial Services Commission (IFSC). They are the only forex broker who matched all the strick pilicies of IFSC.

Awards

RoboForex is an award-winning global forex and CFDs broker.  They won the following awards for its product offerings and services.

  • An award in the category “The best ECN broker” according to IAFT Awards 2016, organized by the International Association of Forex Traders.
  • Global Brand award in the category “Fastest Growing Forex Brand Asia” from Global Brands magazine.
  • The award “Best Standard Forex Broker 2014” in the international exhibition “Mena 13th Forex Show” in Dubai, UAE.
  • An award in the category “The best ECN broker” 2013 according to Masterforex-V, the Academy of exchange trading, one of the most successful European educational forex projects over the last years.
  • Award in the category “Best Forex News & Analysis Provider 2013” at “Mena 12th Forex Show”, an international exhibition in Dubai (UAE).

Trading Platforms

RoboForex provides MetaTrader 4 and MetaTrader 5 platform developed by MetaQuotes Software to its clients for an efficient and reliable trading experience. Even more they also provide cTrader platform for STP/ECN solution and direct access to interbank quotes. Their MetaTrader 4 provides 50 types of technical indicators, where cTrader provides 54 types of Technical Indicators. RoboForex also provides Umstel trading platform for stock trading. Umstel platform also available for web with most of the features like desktop. They also provide Mobile trading app R MobileTrader onto the smartphone. The app is free and can be downloaded from Google PlayStore and Apple App Store.

Investment Platforms

RoboForex additionally provides 2 more Investment Platforms, named CopyFX and RAMM platforms. By using these platforms traders can copy single orders or entire trading strategies.

Automated trading

RoboForex made StrategyQuant as automated trading tools. Using a desktop version or EA Wizard web platform, traders can able to create, backtest, and optimize trading robots for MetaTrader 4 terminal without having programming knowledge. RoboForex ask $1000 deposit to use StrategyQuant.

Commissions & Spreads

Like other online Forex brokers, Roboforex also has fixed and floating spreads. The commission rates for Roboforex vary from 2 cents per stock to $20 per $1 million traded. The spreads are floating like other ECN brokers for Roboforex. They have minimum spread of 0.1 pips for EUR/USD pair. The maximum leverage rates RoboMarkets is 1:1000 for real account.

Payment options

Roboforex Supports Wire transfer, VISA, MasterCard, China UnionPay, Firstchoice Pay MasterCard, Fasapay, Skrill, Neteller, WebMoney, QIWI, ePayments, bitcoins, webpay.cl for deposits and withdrawal. Withdrawals are also imitated through the same methods used for depositing the funds. Roboforex has automatic withdrawal scheme. Trader can process the withdrawal request with in minute.

Roboforex team
Roboforex team

Support

Customer support at Roboforex is available 24/7. Hence there are several ways which you can get in touch with the support team such as email, Skype, live chat of the telephone. There is a call back option from contact Us page of their website. Traders also have the benefit of multi-lingual support for 8 Non-English language.

RoboForex Detail Information

Company RoboForex LP
Founded in 2009
Online since 2010
Offices in Egypt, Hong Kong, Indonesia, Latvia, Malaysia, Moldova, Republic of New Zealand, Romania, Russian Federation, Taiwan, Thailand, United Kingdom
Payment options CashU, Credit/debit cards, Liqpay, Neteller, RBK Money, Skrill, UnionPay, WebMoney
Demo platforms MetaTrader 4, MetaTrader 5, Currenex Viking, cTrader
Account currencies Chinese yuan, Euro, Russian rouble, United States dollar
Currency pairs
AUD/CAD AUD/CHF
AUD/JPY AUD/NZD
AUD/USD CAD/CHF
CAD/JPY CHF/JPY
EUR/AUD EUR/CAD
EUR/CHF EUR/GBP
EUR/JPY EUR/NOK
EUR/NZD EUR/SEK
EUR/USD GBP/AUD
GBP/CAD GBP/CHF
GBP/JPY GBP/NZD
GBP/USD NZD/CAD
NZD/CHF NZD/JPY
NZD/USD USD/CAD
USD/CHF USD/HKD
USD/JPY USD/MXN
USD/NOK USD/RUB
USD/SEK USD/SGD
USD/ZAR
Regulated by CySEC, 191/13; FSCL (New Zealand), 4148; FSP (New Zealand), 246525; IFSC (Belize), IFSC/60/271/TS/14; The Financial Commission
Website available in Arabic, Chinese, English, Indonesian, Italian, Malay, Polish, Portuguese, Russian, Spanish, Thai, Ukrainian
Support available in Chinese, English, Indonesian, Malay, Portuguese, Russian, Spanish
Support methods Email, Live chat, Office, Phone, Skype, Web form
Trading server time zone EET
VPS for traders Free for deposits greater than $300.
Rebates per 1 std. lot $3
Special notes Swap-free (Islamic) accounts involve paying commission of $5-20 per one standard lot.

RoboForex Features

  • Interest rate on funds
  • Bonus offers
  • Trading contests
  • MAM accounts
  • Affiliate program
  • Islamic accounts available
  • Hedging
  • Scalping
  • Trailing Stop
  • Web Based Trading
  • Pending Orders
  • One Click Execution
  • Mobile Trading
  • Automated Trading

Account Types

  • Fix-Cent Account
    • Hedging
    • Overnight interest rates (swaps)
    • Cent account
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Automated trading
  • Fix-Standard Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Automated trading
  • Pro-Cent Account
    • Hedging
    • Overnight interest rates (swaps)
    • Cent account
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Automated trading
  • Pro-Standard Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Trading via API
    • Automated trading
  • Pro-ECN Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-Cancels-Other (OCO) orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Automated trading
  • ECN-FixSpread NDD Account
    • Hedging
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Automated trading

RoboForex Review and Rating

RoboForex is strictly regulated by several different agencies. They are a member of CIF. Because of that, each clients can claim maximum of 20,000 for any kind of discrepancy. Other best part of this broker is multiple trading platforms and trading accounts. They also have a good bonus amount for their loyal customers.

Support
70%
Platform
80%
Bonus
70%
Commission
70%
Leverage
80%

Pros

  • Strict regulation
  • Low minimum deposit amount ($10)
  • Good amount of Bonus
  • Scalping & Hedging is Available

Cons

  • Not available for US clients.
7.4

Average Score

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3 thoughts on “RoboForex – Forex Broker review”

  1. RoboForex is a very good dealing center. I like its partnership program and the system of trades copying. I’m not yet a highly experienced trader myself, but can select trades to copy from. I try to choose from the top ones and always get some profit as a result.

  2. I have been trading with RoboForex since July. I have 8 years’ experience and I have used many brokers. First, this is by far the absolute best customer service I have ever received. I have a personal account manager.. The trading conditions are excellent, I have watched my trades come within a stop loss and not take me out. Therefore,Leverage is high, and hedging is allowed. While hedging is not part of my strategy, high leverage certainly is.

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