Are you searching for a reliable and reputable forex broker to start your online trading journey?
Look no further than Roboforex, a leading financial brokerage company that has been providing exceptional services to over 1 million clients worldwide since 2009.
With a wide range of tradable assets, advanced trading platforms, and competitive trading conditions, Roboforex is the perfect choice for both beginner and experienced traders looking to navigate the exciting world of forex, stocks, indices, commodities, and more.
In this detailed Roboforex review, we'll take a closer look at the company's background, regulations, account types, trading platforms, and key features that set it apart from other brokers in the industry.
By the end of this article, you'll have a clear understanding of why Roboforex is a trusted partner for your online trading needs.
Roboforex Background and History
Roboforex was founded in 2009 with a mission to provide high-quality and reliable brokerage services to clients around the globe. Over the past decade, the company has grown exponentially, establishing itself as a leading player in the online trading industry. Here are some key facts about background:
Roboforex's commitment to excellence and customer satisfaction has earned it numerous accolades, including:
These awards are a testament to Roboforex's dedication to providing top-notch services and innovative products to its clients.
Regulation and Licensing
When choosing a forex broker, it's crucial to ensure that the company is properly regulated and licensed to operate in your jurisdiction. Roboforex is committed to maintaining the highest standards of security and transparency, and as such, it is regulated by several reputable financial authorities:
- Financial Services Commission (FSC) of Belize: Roboforex Ltd holds a special brokerage license (No. 000138/333) from the FSC, allowing it to offer trading services in financial and commodity-based derivative instruments.
- Financial Commission: Roboforex is an “A” category member of the Financial Commission, an independent self-regulatory organization that provides protection for up to €20,000 per case through its Compensation Fund.
In addition to these regulatory measures, Roboforex also offers:
- Negative Balance Protection: Clients are protected from incurring negative balances in their trading accounts, ensuring that they never lose more than their initial deposit.
- Segregated Client Funds: All client funds are held in segregated accounts, separate from the company's operational funds, to ensure maximum security and protection.
- Verify My Trade: It has received the Verify My Trade (VMT) execution quality certificate, confirming its compliance with the strict order execution requirements set by the Financial Commission.
With these strong regulatory measures in place, you can trade with confidence knowing that your funds and personal information are safe and secure with Roboforex.
Account Types and Trading Platforms
Account Types
Roboforex offers a range of account types to suit every trader's needs and budget. From standard accounts to ECN and affiliate programs, there's something for everyone.
| Account Type | Min. Deposit | Leverage | Spread |
|---|---|---|---|
| Pro Standard | $10 | 1:2000 | From 1.3 pips |
| ECN | $100 | 1:200 | From 0 pips + commission |
| Prime | $5,000 | 1:100 | From 0 pips + reduced commission |
| R StocksTrader | $100 | 1:20 | From 0.1% |
Not sure which account is right for you?
No problem, Roboforex offers demo accounts that let you test the waters with virtual funds. Experiment with different strategies, platforms, and assets until you find your perfect match.
Trading Platforms
Roboforex offers a diverse selection of trading platforms to cater to the needs and preferences of all types of traders. Whether you're a beginner or a seasoned pro, you'll find a platform that suits your style.
| Platform | Key Features |
|---|---|
| MetaTrader 4 (MT4) | – 3 types of order execution- 50 technical indicators- Graphic analysis tools- MQL programming for custom robots |
| MetaTrader 5 (MT5) | – 4 types of order execution- Multi-currency tester- Market depth- 6 types of pending orders (MetaTrader 5) |
| R WebTrader | – 13 technical indicators- 9 graphic analysis tools- Convenient account management- Expert analytics |
| R MobileTrader | – Perfect for mobile traders- Absolutely free- Available for iOS and Android |
| R StocksTrader | – Access to 12,000+ stocks– Advanced charting tools- Familiar web-based interface |
No matter which platform you choose, you'll enjoy fast order execution, reliable performance, and a user-friendly interface. Plus, with Roboforex's commitment to innovation, you can expect regular updates and new features to keep you ahead of the curve.
Fun Fact: Did you know that the MetaTrader 4 platform, offered by Roboforex, has been around since 2005? Despite its age, it remains one of the most popular trading platforms in the world, thanks to its reliability and versatility.
Assets and Markets
Roboforex offers a diverse range of tradable assets, allowing investors to access global financial markets from a single platform. Whether you're interested in forex, stocks, indices, commodities, or ETFs, Roboforex has you covered. Here's a closer look at the markets available:
Forex
With more than 40 currency pairs to choose from, including majors like EURUSD, GBPUSD, and USDJPY, as well as exotic pairs like EURTRY and USDZAR, forex traders have plenty of opportunities to capitalize on market movements. Roboforex offers competitive spreads starting from 0 pips and leverages up to 1:2000, making it an attractive choice for both novice and experienced traders.
Stocks and Indices
Invest in some of the world's most renowned companies, such as Amazon, Google, Netflix, and Apple, through Roboforex's extensive selection of more than 12,000 stocks. You can also trade popular stock indices like the S&P 500, NASDAQ 100, and FTSE 100, which provide exposure to entire market sectors.
Commodities and Energies
Diversify your portfolio with commodity ETFs and CFDs on soft commodities like coffee, cocoa, sugar, and wheat, as well as energies such as oil, natural gas, and ethanol. Roboforex offers competitive spreads and leverages up to 1:100 on these instruments, making them accessible to a wide range of investors.
ETFs and Futures
Exchange-traded funds (ETFs) have become increasingly popular among investors due to their diversification benefits and low costs. Roboforex provides access to more than 1,000 ETFs across various asset classes. Additionally, you can trade US futures CFDs with advanced features and transparent pricing.
| Asset Class | Number of Instruments | Leverage | Minimum Deposit |
|---|---|---|---|
| Forex | 40+ currency pairs | Up to 1:2000 | $10 |
| Stocks | 12,000+ | Up to 1:20 | $100 |
| Indices | Popular global indices | Up to 1:100 | $10 |
| Commodities | Soft commodities and metals | Up to 1:100 | $10 |
| Energies | Oil, gas, ethanol | Up to 1:100 | $10 |
| ETFs | 1,000+ | Up to 1:100 | $100 |
| Futures | US futures CFDs | Up to 1:100 | $100 |
With so many different markets and competitive trading conditions, Roboforex meets the needs of both small and large investors who want to diversify their investments and take advantage of opportunities in the global financial markets.
Deposits and Withdrawals
Roboforex provides many easy ways to deposit and withdraw money, catering to the needs of clients worldwide. The company prides itself on providing fast, secure, and commission-free transactions.
Deposit Methods
Clients can fund their trading accounts using a range of payment options, including:
- Bank wire transfer
- Credit/debit cards (Visa, Mastercard, JCB, CUP)
- E-wallets (Skrill, Neteller, PerfectMoney, SticPay)
- Local bank transfers
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple)
It covers all deposit fees, ensuring that clients receive the full amount of their deposit in their trading account. The minimum deposit varies depending on the account type, starting from as low as $10 for Pro and Pro-Cent accounts.
Withdrawal Methods
Withdrawing funds from your Roboforex account is just as easy as depositing. Available withdrawal methods include:
- Bank wire transfer
- Credit/debit cards (Visa, Mastercard)
- E-wallets (Skrill, Neteller, PerfectMoney, SticPay)
- Local bank transfers
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple)
Withdrawal requests are processed within 1-3 business days, and clients can track the status of their withdrawals through the Members Area. It offers flexible withdrawal limits, with a minimum withdrawal amount of $1 to $5 for most payment methods and a maximum of $50,000 per transaction.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Wire | 0% | 0.5% to 1.9% | 1-3 days |
| Credit/Debit Cards | 0% | Up to 2.6% + $1.3 | Up to 10 days |
| E-wallets | 0% | 1.5% to 4% | Up to 1 day |
| Local Bank Transfers | 0% | Varies by bank | 1-3 days |
| Cryptocurrencies | 0% | 0.5% to 1% | Up to 1 day |
To further support its clients, It offers commission-free withdrawals twice a month. This unique promotion allows clients to withdraw their funds without incurring any additional fees, demonstrating the company's commitment to providing a cost-effective and user-friendly trading experience.
Comparison of Roboforex with Other Brokers
When choosing a forex broker, it's essential to compare the strengths and weaknesses of different providers to find the one that best suits your trading style and needs. Let's see how Roboforex stacks up against some of its main competitors:
Strengths of Roboforex
- Wide range of tradable assets: With over 12,000 instruments, including forex, stocks, indices, commodities, and ETFs, It offers one of the most extensive selections in the industry.
- Competitive trading conditions: Tight spreads from 0 pips, high leverage up to 1:2000, and fast execution speeds make Roboforex an attractive choice for active traders.
- Innovative platforms: In addition to the popular MT4 and MT5, It offers its proprietary R StocksTrader and CopyFX platforms, catering to different trading preferences.
- Excellent affiliate program: With payouts up to 84% of the fees paid by referrals, Roboforex boasts one of the most generous affiliate programs in the industry.
Weaknesses Compared to Competitors
- Limited regulation: While Roboforex is licensed by the FSC in Belize, it lacks oversight from top-tier regulators like the FCA or ASIC, which some competitors have.
- Higher spreads on some accounts: Although Roboforex offers competitive spreads overall, some account types may have higher spreads compared to other brokers.
- No direct stock trading: While Roboforex offers an extensive range of CFDs, it doesn't provide direct access to stock trading like some competitors.
Here's a comparison table of Roboforex and some of its main rivals:
| Broker | Regulation | Min. Deposit | Instruments | Platforms | Spread EUR/USD |
|---|---|---|---|---|---|
| Roboforex | FSC Belize | $10 | 12,000+ | MT4, MT5, cTrader, R StocksTrader | 0.1 pips |
| FP Markets | ASIC, CySEC | $100 | 10,000+ | MT4, MT5, IRESS | 0.2 pips |
| Forex.com | FCA, CFTC, NFA | $50 | 4,500+ | MT4, MT5, Web Trader | 0.3 pips |
| Exness | FCA, CySEC, SFSA | $1 | 100+ | MT4, MT5, Web Trader | 0.1 pips |
As you can see, while Roboforex has some advantages like a wider product range and lower minimum deposit, competitors may offer stronger regulation or lower spreads on certain account types.
Ultimately, the best broker for you will depend on your individual trading needs and priorities.
Common Queries Related to Roboforex
What is RoboForex?
What types of Trading Accounts does RoboForex offer?
Which Trading Platforms are available with RoboForex?
Making the Most of Roboforex's Offerings
Based on our thorough analysis, we believe that Roboforex is a reliable and feature-rich broker that offers excellent value for both beginners and experienced traders. Its wide product range, competitive trading conditions, and innovative platforms make it a strong choice for those seeking a versatile and user-friendly trading experience.
However, as with any broker, it's essential to consider your individual trading style, risk tolerance, and financial goals before making a decision. We recommend comparing Roboforex with other leading brokers to find the one that best aligns with your needs.
If you're looking for a well-established broker with a diverse offering, competitive pricing, and unique features like social trading and stock CFDs, Roboforex is definitely worth considering.
As always, be sure to do your own research and due diligence before investing your hard-earned money.
