RoboForex Review

RoboForex has over 3,523,000 clients from nearly 169 countries, and it has been the winner of several prestigious awards, including the Global Brands Magazine Awards‘ “Best Investment Products,” the Global Forex Awards “Most Transparent Asian Forex Broker,” the International Business Magazine’s “Most Trusted Broker,” and the IAFT Awards “Best Broker of the CIS,” among others.

Clearly, this broker is doing something right. One of RoboForexs best features is its wide range of accounts, which cater to all levels of trader, from novice to old pro. The assets offered include forex, indices, stocks, CFDs, commodities, metals, and ETFs. This broker does not charge commissions fees on its Pro-Standard account, which is its most popular.

Education-wise, RoboForex is ahead of the game. The market-maker has economic calendars and analytics centers, in addition to the myriad of resources that the MetaTrader suite provides. RoboForex is regulated by the International Financial Services Commission (IFSC) in Belize, a Civil Liability insurance program for a limit of 5,000,000 EUR, which includes market-leading coverage against omissions, fraud, errors, negligence, and other risks that may lead to financial losses of clients. Overall, RoboForex is an acclaimed forex broker with a lot of products, account types, and educational resources for its traders.

RoboForex Pros & Cons

Who Is RoboForex Recommended For？

Judging from the educational resources offered, as well as the types of accounts, RoboForex is a platform that works for both new and advanced traders. For example, on its website, it includes instructions on how to get started trading, indicating that it can work for even total newbies. The demo accounts are available for all but the ECN account, which signals that RoboForex has no problem allowing new traders to practice before buying into the broker.

In addition to catering to new traders, RoboForex also has advanced accounts, such as the R Trader and ECN Accounts, which it says are for “experienced” traders. By contrast, the Pro is “suitable for beginning and advanced” traders, as is the ProCent. Bottom line: dont be afraid to try RoboForex, no matter your experience level.

Top RoboForex Features

• Excellent Trading Conditions for Forex. When it comes to trading Forex, one of the top features at RoboForex is its trading conditions, which it describes as “unique.” RoboForex offers tight spreads, starting at 0 pips and low commissions (from $10 per $1 million trade volume). RoboForex also has fast order execution, thanks to its MetaTrader 4 and 5 platforms, which are the best a broker can offer. The best trading conditions can be found at RoboForexs ECN, Prime, and R Trader accounts.

• Real Stock Investment. RoboForex provides traders access to a wide range of stocks. With this broker, you can choose from over 3,000 stocks listed on NASDAQ and the NYSE. The R Trader platform is cutting edge, and traders will appreciate the low commission fees (from $0.0045 per share), spreads starting at 0.01, and huge variety of products from which to choose.

• MobileTrader. MobileTrader lets you trade on the go. This app is compatible with iOS and Android, and it allows users to trade over one-hundred instruments. MobileTrader lets traders close and open positions on their MT4 account, deposit and withdraw funds, invest using CopyFX (the copy-trading RoboForex feature), monitor news, and perform other necessary functions, the same as they would on a desktop computer.

RoboForex Overview

RoboForex Compliance & Regulation

As mentioned in the introduction, RoboForex is regulated by the International Financial Services Commission in Belize, where it is headquartered. RoboForex lists its license and regulation number at the bottom of its website. It holds IFSC license No. 000138/107. Its regulation number is 128.572.

RoboForex Pricing

The pricing and fees with this broker depend on the type of account, and fees vary when it comes to minimum deposit requirements, commissions, and withdrawals. For example, the commission-per-trade fee on the Prime account is from $10-$15 per $1 million trade volume. By contrast, that fee is $20 per $1 million trade volume for the ECN account. Both fees are triggered automatically. The R Trader account has fees from $0.0045 per share, while the Pro account (which is RoboForexs most popular) has zero commission fees.

There are no fees to deposit money with this broker, though there might be fees for withdrawing money, depending on the type of payment you use. Bank transfers are most likely to be subject to fees of up to 4%. You might also see fees for using certain credit cards, like Visa, Mastercard, or JCB (around 2.6%, according to some users).

All in all, you should select your account at RoboForex based on what you want as a trader. Prime account holders will experience the best trading conditions that this broker has to offer. ECN accounts have equally-optimal trading conditions and fast execution speeds, while R Trader account holders have the convenience of being able to access all of their financial markets using just one single account.

Beginning traders might find that the ProCent and Pro accounts work best for them. ProCent‘s key feature is that it uses US and EUR cents as its base currency. This account is optimal for beginners or professionals who want to test out trading strategies, perhaps before moving on to R Trader, ECN, or Prime. Lastly, the Pro has optimal trading conditions and comes with deposit and loyalty bonuses, two features that help make it RoboForex’s most popular account.

RoboForex Reliability & Security

A brokers reliability depends heavily on the software it chooses. RoboForex uses MetaTrader 4 and MetaTrader 5, both of which are industry standards when it comes to trading. MT4 and MT5 (the latter of which is the most popular system on RoboForex) are two platforms that are known for being smooth-running and feature-heavy.

MT4 has three types of order execution, basic graphic analysis tools, and fifty indicators for technical data. It also gives users the opportunity to program their own AI traders. MT5 is a cut above MT4, offering four types of order execution, six types of pending orders, a multi-currency tester, and market depth, in addition to having all the features of MT4.

If you want something different than the MetaTrader suite, RoboForex offers a cTrader platform, which is geared towards experienced traders who “prefer unconventional instruments” and fast “order execution speed.” cTrader has rare types of orders, fifty-four indicators, fourteen timeframes, and Level II pricing.

R Trader is another platform available, again geared towards advanced traders. This multi-terminal web platform is easy to use and has features like “advanced” watchlist—all through one single account. These software systems all are a testament of this brokers reliability. A broker is only as glitch-free as its software, and the multiple platforms offered are a good sign of a smooth trading experience.

RoboForex User Experience

Educational tools offered and the quality of customer service are two ways to judge user experience. How much a user learns and how quickly their needs are met matter a lot. In terms of educational tools, RoboForex provides video and written guides on the basics of the stock market (“How to Open an Account,” “How to Start Trading,” etc.). The analytics includes RoboForex analysis and forecasts and an economic calendar, as well as a data center. This broker also provides a blog, where in-house experts weigh in on current events and trading strategies.

Customer support at RoboForex appears responsive, with three different email addresses: one for general questions, one for marketing, and one for partners. You can also ask a question in a live chat on the brokers website or call the RoboForex number (listed below).

Final Thoughts on RoboForex

All in all, RoboForex is a broker with a lot to offer. It has a variety of account types, and there are particularly good trading conditions on the Prime, ECN, and R Trader accounts. There is also a solid educational system, and the award-winning nature of this broker speaks to its reputability.