RoboForex

Company Name	RoboForex
Location	Cyprus
Regulations	Counterfeit Dealer
Tradable Assets	Currency pairs, stocks, indices, commodities, metals, energy commodities, ETFs, cryptocurrencies
Account Types	Prime, ECN, R StocksTrader, ProCent
Leverage	Up to 1:300 (Demo), up to 1:2000 (Real)
Spread	Floating, from 0 pips
Commission Fee	$20 per 1 million USD traded (For specific account types)
Minimum Deposit	$10 USD / 10 EUR
Deposit/Withdraw Methods	Bank Transfer, Local Bank Transfer, AstroPay, Skrill, Neteller, Perfect Money, VISA/MasterCard/JCB/CUP, QR & Vouchers
Trading Platforms	MetaTrader 4, MetaTrader 5, R StocksTrader
Customer Support	24/7 Live Support, online chat, ticket system in Members Area
Educational Resources	Demo accounts, trading guides, tools, financial charts

Overview of RoboForex

RoboForex, based in Cyprus, serves as a brokerage platform catering to individuals interested in diverse global financial markets. It empowers traders with access to an extensive array of trading instruments, including currency pairs, stocks, indices, commodities, metals, energy commodities, ETFs, and cryptocurrencies. This comprehensive selection empowers traders to customize their portfolios and explore a wide range of market sectors.

Traders on RoboForex benefit from a choice of trading platforms, most notably the MetaTrader 4 and MetaTrader 5 platforms, renowned for their user-friendly interfaces and advanced analytical tools. While RoboForex offers a variety of trading opportunities and resources, it's important to acknowledge concerns regarding its regulatory status and promotional activities. As traders contemplate RoboForex as a potential trading platform, it's recommended to conduct thorough research and due diligence to make well-informed decisions that align with individual trading preferences and risk tolerance.

Is RoboForex legit or a scam？

The regulatory status of RoboForex raises significant concerns over its legitimacy. It's important to note that this broker lacks the necessary regulatory license, casting doubt on its credibility and commitment to adhering to industry standards. Moreover, it has been labeled as a counterfeit dealer, which further raises alarms about its practices and transparency.

Adding to the skepticism is the fact that this broker is based in Cyprus, a jurisdiction that has been associated with some instances of lax regulatory oversight in the financial industry. The absence of a valid license and the counterfeit label highlight potential risks for traders, as operating without proper regulation can leave investors vulnerable to fraudulent activities or unethical practices. Traders are strongly urged to exercise caution and thoroughly research the broker's credentials before engaging in any trading activities.

Pros and Cons

RoboForex offers a diverse range of tradable assets, spanning from currency pairs and stocks to cryptocurrencies, enabling traders to access multiple markets. The availability of various trading platforms, including MetaTrader 4 and 5, caters to different trading preferences and strategies. Additionally, the inclusion of a demo account and educational resources like guides and trading tools can assist beginners in gaining practical experience and honing their skills. The broker's 24/7 customer support is also noteworthy, providing assistance to traders around the clock. Moreover, RoboForex's competitive spreads and leverage options offer potential advantages for experienced traders seeking opportunities in the markets.

One of the major concerns about RoboForex is its regulatory status – the lack of a valid license and being labeled as a counterfeit dealer raises doubts about its credibility and compliance with industry standards. The excessive promotion of bonuses may also be viewed suspiciously, potentially creating misconceptions for traders. Furthermore, the broker's base in Cyprus, a jurisdiction occasionally associated with lax regulatory oversight, may further contribute to uncertainties regarding the platform's legitimacy.

Pros	Cons
Diverse range of tradable assets	Counterfeit dealer label
Multiple trading platforms	Lack of valid regulatory license
Demo account and educational tools	Excessive promotion of bonuses is suspicious
24/7 customer support	Base in Cyprus may raise regulatory concerns
Competitive spreads and leverage

Trading Assets

RoboForex offers an extensive spectrum of trading assets, catering to diverse investment interests. Clients can engage in currency pairs, benefiting from the dynamic forex market that operates around the clock with a substantial daily turnover. The platform extends opportunities for stock trading, allowing investors to invest in globally recognized companies and access indices that provide a comprehensive view of price fluctuations across stock groups.

Additionally, clients can explore futures trading, diversify portfolios through ETFs, invest in precious metals like gold and silver, and venture into the promising realm of cryptocurrencies. The comprehensive range of assets empowers traders to navigate various markets and tailor their investments according to their preferences and objectives, fostering growth and portfolio diversification.

Account Types

RoboForex offers a range of distinct trading account types tailored to cater to various trading preferences and experience levels:

The Prime Account features a floating spread from 0 pips, a maximum leverage of 1:300, and a minimum deposit of 10 USD / 10 EUR. It offers a variety of trading instruments, including 28 currency pairs, metals, CFD on US stocks, CFD on Indices, CFD on Oil, cryptocurrencies, and CFDs on Futures.

The ECN Account offers a floating spread from 0 pips, a maximum leverage of 1:500, and a minimum deposit of 10 USD / 10 EUR. It provides a wide range of trading instruments, such as 36 currency pairs, metals, CFD on US stocks, CFD on Indices, CFD on Oil, cryptocurrencies, and CFDs on Futures.

The R StocksTrader Account comes with a spread starting from 0.01 USD, a maximum leverage of 1:500, and a minimum deposit of 100 USD. It offers a diverse selection of over 12,000 trading instruments, including indices, real stocks, CFDs on stocks, Currencies and ETFs, CFDs on Oil, CFDs on Metals, Cryptocurrencies, and CFDs on Futures.

The ProCent Account offers a floating spread from 1.3 pips, a maximum leverage of 1:2000, and a minimum deposit of 10 USD / 10 EUR. It focuses on trading 36 currency pairs, metals, and cryptocurrencies.

The Pro Account features a spread floating from 1.3 pips, a maximum leverage of 1:2000, and a minimum deposit of 10 USD / 10 EUR. It allows trading in 36 currency pairs, metals, CFD on US stocks, CFD on Indices, CFD on Oil, cryptocurrencies, and CFDs on Futures.

How to open an account in RoboForex？

To open an account with RoboForex and embark on your trading journey, follow these steps:

https://youtu.be/ih3f8jxnX-w

1. Visit the RoboForex website and navigate to the “Members Area” section to initiate the account opening process.

2. Fill in your contact details, including your E-mail, First Name, Last Name, and Mobile phone number.

3. If you have a Partner's code, enter it to proceed with any associated benefits.

4. Choose to join the company's mailing list to receive timely updates about exclusive offers and market insights.

5. Confirm that you are at least 18 years old and agree to the company's terms and conditions by accepting them.

6. Complete the registration process, and an email or verification may be sent to validate your account setup.

By following these steps, you'll successfully register and open an account with RoboForex, setting the stage for your trading endeavors.

Spread and Commission Fees

RoboForex offers competitive spread and commission fees, providing traders with specific numerical values to consider in their trading decisions. The spread varies depending on the account type and trading instrument, with floating spreads starting as low as 0 pips for certain account types. Commission fees are applicable to certain accounts and are typically charged at $20 per 1 million USD traded.

It's important to note that the exact spread and commission values may vary based on market conditions and the chosen account type. Traders should review the broker's detailed fee structure for precise and up-to-date information on spreads and commissions to make well-informed trading choices.

Leverage

RoboForex provides a flexible leverage offering across its various trading accounts, enabling traders to tailor their trading strategies to their risk preferences and market exposure. Leverage amplifies a trader's potential returns, allowing them to control larger positions with a relatively smaller amount of capital. The broker offers a range of maximum leverage options, reaching up to 1:2000 for certain account types, empowering traders to trade a diverse selection of financial instruments, including currencies, metals, cryptocurrencies, and indices.

This wide range of leverage options caters to both cautious traders who prioritize risk management and those seeking higher trading power to seize market opportunities. However, it's important for traders to exercise caution when utilizing leverage, as while it can magnify profits, it also magnifies potential losses. Higher leverage levels can increase the risk of significant drawdowns, especially in volatile markets.

Trading Platform

RoboForex provides a diverse range of trading platforms to cater to varying trading preferences and asset classes. For MT4 enthusiasts, the R MobileTrader app is an excellent choice, enabling traders to access gold, oil, currencies, and more from anywhere globally. For those focused on stock trading, the R StocksTrader app presents a user-friendly solution. Found on both AppStore and Google Play, it offers the opportunity to invest or trade in NYSE and NASDAQ stocks, all within a convenient and easily accessible application.

Additionally, RoboForex offers the popular and widely recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms provide traders with advanced features, intuitive interfaces, and comprehensive tools for technical and fundamental analysis, catering to various trading styles and preferences. RoboForex's array of trading platforms underscores their commitment to offering a tailored and diverse trading experience, ensuring traders have access to the tools they need to effectively engage in the financial markets.

Deposit & Withdrawal

RoboForex provides a flexible range of minimum deposit and withdrawal requirements, catering to different methods and currencies. For instance, Bank Transfer (SEPA) entails a minimum deposit of 500 EUR, while Local Bank Transfer has a minimum of up to 15,000 USD. Electronic payment options, including AstroPay, Skrill, Neteller, and Perfect Money, vary from 10 to 25,000 USD. Bank cards (VISA/MasterCard/JCB/CUP) have a minimum starting at 10 USD for deposits.

In terms of withdrawals, Local Bank Transfer allows up to 20,000 USD, while electronic methods like AstroPay, Skrill, Neteller, and Perfect Money range from 10 to 100,000 USD. Meanwhile, bank card withdrawals encompass varying amounts. Notably, RoboForex offers 0% commission for deposits, with competitive withdrawal fees tailored to the chosen payment method. Fees may differ based on the payment system and transaction size, such as Local Bank Transfers and QR & Vouchers having 0% deposit fees. Bank cards may incur withdrawal fees up to 2.6% and a fixed additional amount.

Customer Support

RoboForex provides robust customer support to ensure traders receive timely assistance whenever required. Operating 24/7, their dedicated Live Support specialists stand ready to address queries, ensuring a seamless trading experience regardless of time zones.

Clients benefit from various communication avenues, including a provided phone number (+593 964 256 286) and an accessible online chat option. Furthermore, the integration of a ticket system within the Members Area streamlines interactions, emphasizing efficiency and client-centricity.

Educational Resources

RoboForex provides traders with a robust educational framework and a range of essential trading tools to support their journey in the financial markets. The platform offers a practical learning experience through its demo account feature, allowing traders to practice and refine their strategies without risking real capital. In addition, comprehensive guides on opening accounts and commencing trading equip beginners with the necessary knowledge to navigate the trading process confidently.

Complementing educational resources are valuable trading tools designed to enhance traders' analytical prowess. The R StocksTrader Strategy Builder empowers users to develop and test their trading strategies, while the Trading Calculator assists in risk management and decision-making. Visual insights are provided through Financial Charts, enabling traders to analyze market trends effectively.

Conclusion

RoboForex presents a multifaceted trading platform that seeks to accommodate diverse trading preferences and strategies. RoboForex offers a wide array of tradable assets, ranging from currency pairs to stocks, commodities, indices, and cryptocurrencies. With access to popular trading platforms like MetaTrader 4 and 5, RoboForex caters to both beginners and experienced traders. Competitive spreads and leverage options are also presented to potentially enhance trading experiences.

However, concerns arise around RoboForex's regulatory status, as the absence of a valid license and being labeled as a counterfeit dealer cast a shadow of doubt over its legitimacy. The excessive promotion of bonuses could also trigger skepticism among traders. While RoboForex's offerings may appeal to a wide audience, these concerns highlight the need for thorough due diligence and careful consideration before engaging with the platform.

FAQs

Q: What is the regulatory status of RoboForex？

A: RoboForex lacks a valid regulatory license, raising concerns about its legitimacy and adherence to industry standards.

• Q: What types of assets can I trade on RoboForex？

  A: RoboForex offers a wide range of trading assets, including currency pairs, stocks, indices, commodities, metals, energy commodities, ETFs, cryptocurrencies, and more.

• Q: What types of trading accounts does RoboForex offer？

  A: RoboForex provides several account types, including Prime, ECN, Pro, and ProCent accounts.

• Q: How can I contact customer support？

  A: RoboForex provides 24/7 customer support through live chat, phone, and a ticket system within the Members Area.

• Q: What trading platforms are available on RoboForex？

  A: RoboForex offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), R MobileTrader, and R StocksTrader platforms for various trading preferences.