*Please note that the information in this table is subject to change and you should always refer to the broker's official website for the most up-to-date information.
Overview of Roboforex
Roboforex, the trading name of Roboforex Cy Ltd, is a forex broker that has been around for over a decade and has made a name for itself in the industry. Founded in 2009, Roboforex is based in Belize, and then became a member of the FSCL, launched a negative balance guarantee service, later added CFD instruments, and introduced gold and CNY trading accounts.
Roboforex offers a wide range of trading instruments, including stocks, indices, futures, ETFs, soft commodities, energies, metals, and currencies, with over 10,000 instruments available for trading.
In 2016, Roboforex started creating a proprietary investment platform with a professional analysis centre RAMM and released stock trading.
In 2019, the forex broker's tradable instruments reached 11,700, with global updates for the Android and iOS versions of WebTrader and MobileTrader, and won more than 20 awards in the financial industry.
One of the key features of Roboforex is its variety of account types. The broker offers several different account options, including Prime, ECN, R StocksTrader, Pro Cent, Pro, and demo accounts.
In addition to its diverse account types and trading instruments, Roboforex also offers several different trading platforms. The broker supports both the popular MetaTrader 4 and MetaTrader 5 platforms, as well as their own proprietary platform,WebTrader, MobileTrader, StocksTrader.
Pros and Cons
Is Roboforex Legit?
Yes. Roboforex is regulated by CySEC in Cryprus, NBRB in Belarus, and FSC in Belize.
Robomarkets Ltd is authorized and regulated by Cyprus Securities and Exchange Commission (CySEC) under the license number of 191/13.
Another entity, RoboMarkets, LLC, is authorized and regulated by the National Bank of the Republic of Belarus (NBRB) under the license number of 15.
RoboForex Ltd. is authorized and offshore regulated by the Financial Services Commission (FSC) under license number of IFSC/60/271/TS/17.
This means that the broker is required to adhere to strict regulations and guidelines to ensure the safety of its clients' funds and the integrity of its operations.
Additionally, Roboforex is a member of the Financial Commission, an independent organization that provides a neutral dispute resolution process for its members and their clients. It also offer negative balance protection.
Market Instruments
RoboForex offers trading in stocks, indices, futures, ETFs, soft commodities, energies, metals, and currencies.
Account Types
RoboForex understands that each trader is unique and has their own trading needs and preferences. That's why they have created a diverse range of trading accounts to cater to all types of traders. You can find detailed info about account features in the comparison table below:
How to Open an Account?
Opening an account with RoboForex is a straightforward process that can be completed in just a few steps.
Step 1: First, visit the broker's website and click on the “Open an account” button located in the top right corner of the page.
Step 2: Now, you are redirected to a registration page where you can fill out your personal and financial information, including email address, name, and mobile phone number.
Step 3: After completing the registration form, you need to verify your identity by providing a copy of your government-issued ID and a recent utility bill as proof of address. This step is necessary to comply with international anti-money laundering and know-your-customer regulations.
Step 4: Once the account has been verified, you can fund your account through a variety of methods, including local bank transfer, AstroPay, Skrill, Neteller, Sticpay, Visa, MasterCard, JCB, QR & Vouchers, and Western Union. The minimum deposit for most account types is $10, while the R StocksTrader account requires a minimum deposit of $100.
Step 5: After funding your account, you can download the trading platform of their choice and start trading in the markets.
Leverage
The maximum leverage of 1:2000 available for the Pro Account and Pro Cent account type is particularly noteworthy, offering experienced traders a chance to pursue even more profitable trades. The Prime and ECN accounts also offer high leverage, ranging from 1:300 to 1:500.
However, it's important to note that high leverage can magnify both profits and losses, so traders should use it carefully and with proper risk management strategies in place.
Spreads & Commissions
RoboForex charges no commissions, and spreads vary on the account type.
Trading Platforms
RoboForex provides a range of trading platforms to cater to different trading needs and preferences.
The most popular trading platforms offered by RoboForex include MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are available for desktop, web, and mobile devices, allowing traders to access the markets from anywhere at any time.
MT4 is a widely used trading platform that offers advanced charting capabilities, automated trading features, and the ability to customize indicators and trading robots.
MT5, on the other hand, is a more advanced version of MT4, with additional features such as multi-currency strategy testing and more advanced analytical tools.
In addition to these popular trading platforms, RoboForex also offers its own proprietary platforms, including MobileTrader and R StocksTrader.
MobileTrader is a mobile trading platform that provides access to trading accounts, real-time market data, and order execution.
R StocksTrader, as mentioned earlier, is a unique trading account that offers commission-based trading on US and EU stocks.
For traders who prefer to trade directly from their web browser, RoboForex offers the WebTrader platform. This platform requires no download or installation and offers a simple, user-friendly interface for trading.
Deposit & Withdrawal
Deposit
Withdrawal
Customer Support
Roboforex's customer support can be reached 24/7 by live chat, contact form, and telephone: +593 964 256 286.
Additionally, the company's website has an extensive FAQ section, which provides answers to many common questions about trading accounts, deposit and withdrawal methods, trading platforms, and more.
Besides, you can also follow up with Roboforex on some social media platforms, such as Facebook, Twitter, Youtube, Telegram, and Instagram.
Registered address: 2118 Guava Street, Belama Phase 1, Belize City, Belize
Business address: Belize Marina Towers, Barrack Rd., Newtown Barracks, Belize City, Belize
Registered address: Suite 16, Watergardens 5, Waterport Wharf, GX11 1AA Gibraltar
Conclusion
To summarize, RoboForex is a renowned online brokerage firm that provides a diverse range of account options catering to various trading requirements. The broker offers an extensive range of tradable instruments, competitive trading fees, and high leverage options. The user-friendly trading platforms come equipped with advanced trading tools. The broker also offers excellent customer support, with multiple channels available for assistance.
While RoboForex presents an excellent trading opportunity, it is crucial to exercise caution while trading with leverage and implement proper risk management strategies.
FAQs
Is RoboForex a regulated broker?
Yes, RoboForex is regulated by several financial authorities, including CySEC, NBRB, and FSC (Offshore).
What trading platforms does RoboForex offer?
RoboForex offers a variety of trading platforms, including MetaTrader 4, MetaTrader 5, WebTrader, MobileTrader, and StocksTrader.
What is the minimum deposit required to open an account with RoboForex?
The minimum deposit required varies depending on the account type, $100 to open the R Stockstrader account, while only $/€10 for other four account types.
What trading instruments can I trade with RoboForex?
RoboForex offers 12,000 trading instruments covering stocks, indices, futures, ETFs, soft commodities, energies, metals, and currencies.
2025-02-08 20:29
