RoboForex Review – Online Platforms, Commission, Leverage, Account Types, Features & moreLast Updated Date: Dec 02, 2022
RoboForex is a Belize-based forex brokerage house though it offers other investment options and is quite famous amongst the traders.
In this article, you will get to know everything about RoboForex in brief.
This article is going to be a RoboForex review for all the interested traders and investors.
The article will go around the brokerage charges, commissions, features, benefits, leverage, and everything that an investor needs to know about a brokerage firm before opening an account with them.
About RoboForex & Accepted Countries
|Founder / CEO||Rudolph Simmons|
RoboForex started its journey back in 2009 when Rudolph Simmons founded the firm.
It is a private firm having multiple investment options for trading. The headquarter of the firm is in Belize however, it is present in other countries as well.
It is regulated by IFSC and all its operations are monitored by the association. The firm is present in England, UK, Malaysia, Czech Republic, and others.
Open a Forex Trading Account Now! – Fill up the Form
RoboForex Trading Platforms
|Trading Platform||cTrader, MT4, MT5, Proprietary|
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||Arabic, Chinese, Czech, English, German, Malaysian, Polish, Russian, Spanish|
RoboForex offers multiple trading platforms. It has MetaTrader 4 as well as MetaTrader 5.
Along with that, there are cTrader as well as Proprietary trading systems available from RoboForex.
The trading platforms are available on all devices. On Windows and Mac, you can use the trading terminal.
Then there is a web-based platform as well. RoboForex app is also available which you will read about in the next section of the article.
The trading platforms are –
- Easy to use
- Provide real-time updates
- You can check portfolio details
- Research reports are there which you can avail
- There are global indices for use and trading
- Interactive charts, indicators, and others.
RoboForex Mobile App
RoboForex app is available both on Android and iOS platforms. You can use this application for trading anywhere and anytime.
This application helps in tracking the portfolio of yours anytime as well.
The application is loaded with features like interactive charts, indicators that you find on the terminal as well.
Then it has live streaming of the price of the assets and many such features.
Check out Mobile Apps of more Forex Brokers
|Activtrades||CMC Markets||Eightcap||IFC Markets|
RoboForex Commission or Brokerage or Fees
|Commission on trades||Yes|
RoboForex commission varies from one account type to another.
There are a few where there is no commission as well.
For instance, as you can see in the table above, the present and the Pro account have no commission attached to them.
While the other three have certain commissions which need to be borne by the trader.
The Trader account holder will have to pay 0.0045 USD for each share they trade.
Likewise, Prime account holders have to pay $10 for each million traded and ECN account holders have to pay $20 for forex pairs for each million.
RoboForex Exposure or Leverage
The leverage that RoboForex provides to each of the account holders also depends on the type of account you are choosing.
The leverage varies from 300 times to 2000 times which is one of the highest in the market. Exposure 2000 times is enormously huge.
You can trade assets worth $200000 just having $100 in your trading account, isn’t that great?
The ProCent and Pro account provide this enormous leverage while the ECN account holders get leverage of 500 times.
The Prime and R Trader account holders get leverage of 300 times. So, overall, you can benefit from this huge leverage and actively trade even with small capital.
Payment Methods provided by RoboForex
|Deposit||Credit Card, FasaPay, Neteller, Poli, Skrill, Wire Transfer|
|Withdraw||Credit Card, Neteller, Skrill, Wire Transfer|
The RoboForex offers multiple payment options which include the following –
- Credit Card
- Wire Transfer
You can use these payment options both for deposit and withdrawal except the FastPay which is only for deposit.
The payment options are secure and safe. This makes sure that all your funds are in good hands.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by RoboForex
|Supported Cryptocoins||bitcoin, dash, eos, ethereum, litecoin, ripple|
|Total Tradable Assets||12000|
|Number Of Currency Pairs||50|
|Number Of Cryptocurrencies||9|
|Number Of Stocks||12000|
|Number Of Indices||9|
|Number Of Commodities||4|
|Number Of Futures||N/A|
|Number Of Options||N/A|
|Number Of Bonds||N/A|
|Number Of ETFs||450|
Diversification helps in reducing the risk of trading and RoboForex offers multiple investment options for making your portfolio a well-diversified one.
There are a total of 12000 tradable assets.
This includes stocks of multiple companies, currencies of different countries, and commodities as primary assets.
Then there are cryptocurrencies, indices, and over 450 ETFs as well.
So, you can invest, trade any of these assets and financial instruments as per your choice and investment plan.
RoboForex Virtual Trading or Demo Account
|Virtual Money||USD 5000|
A virtual account is a trading account with dummy cash.
You can trade shares, but you do not need to deposit any cash in the account. It is basically for learning purposes for the new traders.
However, experienced traders also can use this feature for testing their new trading strategies.
Virtual trading of RoboForex is well developed and helps you learn the market well.
RoboForex Offers or Deals
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||No|
When you are choosing a brokerage house, the offers and deals that the firm provides are important to check.
These offers can reduce the cost of trading to some extent. So, RoboForex offers a free demo account that you can use for learning to trade and testing your trading strategies.
Then it offers multiple discounts on brokerage and commission which reduces the cost or expense of trading.
They offer a referral program through which you can earn extra income.
Then there are free learning courses and many such great deals as you can see in the table above.
RoboForex Regulation or Licensing
IFSC regulates the RoboForex brokerage house. Its activities, charges, and offers are all regulated under the rules of IFSC.
The International Financial Services Commission of Belize has provided the license to this brokerage house.
The guidelines of this commission are applicable within and outside Belize as well.
Find out Regulations & Licensing of more Forex Brokers
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||Yes|
|Interest On Margin||Yes|
|Other Trading Features||No|
Before choosing the brokerage house, you need to check what all features or facilities the brokerage house provides.
RoboForex has an array of features for the traders which includes educational services.
Then there are social and copy trading features with which you can use the strategies of renowned traders and implement them on your trades.
Then you can use guaranteed limit orders, guaranteed fills, and liquidity orders.
Apart from these, there are OCO orders, Trailing SP/TP, and many such features.
These are not all, there are more features that you can get with RoboForex trading accounts like a direct trading option from the charts, then hedging and one-click trading, and lots of useful features for traders.
These features can help you trade in a better way and also provide a great experience and more profit.
RoboForex Account Types
Take a look at the types of accounts that the company is offering:
|Account Type||Prime Account||ECN Account||R Trader||ProCent||Pro|
|Initial Deposit||10 USD/EUR.||10 USD/EUR.||100 USD/EUR.||10 USD/EUR.||10 USD/EUR.|
|Spread||From 0 pips||From 0 pips||Starts From 0 pips||From 1.3 pips||From 1.3 pips|
|Commission||$10 per million traded||$20 per million traded on Forex pairs.||US Stocks Pro commission of 0.0045 USD per share||Free||Free|
There are five different types of accounts that RoboForex provide to the traders –
With this account, you can trade assets worth $1 million and you just need to pay $10 as commission. Yes, the commission is so low in this account.
Apart from this, you can open a Prime account with just $10 or 10 EUR. The spread that you can avail in this account starts from 0 pips only and has a leverage of 300 times.
This is the most preferred account type by the traders.
You can open an ECN account with $10 again and the spread starts from 0 pips as well.
Here the commission is $20 for $1 million traded in the forex pairs. The leverage you get is up to 500 times in this account.
With an initial deposit of $100, you can open this account and the commission is as low as $0.0045 per share traded.
The leverage you can expect is up to 300 times and then spread again starting from 0 pips only.
This account can be opened with $10 again and you can expect a spread level starting from 1.3 pips.
While the spread is a little high, the leverage you get is extreme, that is 2000 times. Moreover, it is a commission-free account.
Quite similar to the ProCent account, the Pro account is also a commission-free account.
You can open this account with $10 and the spread you can get in this account is 1.3 pips again. The leverage is also 2000 times in this account.
RoboForex Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||Dealing Desk, ECN, Market Maker, No dealing desk, STP|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
RoboForex – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team:
|Daily Market Commentary||Yes|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
The benefits of trading with RoboForex are –
- Tight spreads
- Superfast execution
- 12000 tradable assets
- Micro account and 5 different types of accounts
- Referral program
RoboForex Cons or Drawbacks
There are no such drawbacks of RoboForex.
However, the commission can be a little higher for the new traders. Only two accounts are commission-free while three others have commission attached to them.
They can improve on the trading platform front and introduce other research tools and services as well.
RoboForex Trading Hours
Since, the brokerage house provides multi-asset trading, in different countries, the trading features are available round the clock.
You can access the trading features as per the asset you’re trading.
For instance, if you are trading currencies, you can trade them anytime as the currencies are available for trading all the time.
However, the stocks are available only as per the country’s stock exchanges’ timing.
RoboForex Customer Care or Contact Details
|Support During Weekends||Yes|
|Live Chat Support||Yes|
|Customer Support Languages||Arabic, Chinese, Czech, English, Malaysian, Polish, Portuguese, Russian, Spanish, Taiwanese, Thai, Ukrainian|
The contact details of RoboForex are given in the table above. You can contact customer care by email, or on live chat.
They are available round the clock at your assistance. The RoboForex customer support is quite prudent.
They have a helpful attitude for the clients. Customer support is available in different languages as the brokerage house is having a presence in multiple countries.
RoboForex Safety & Security
The safety and security of the firm are well monitored. There is no third-party access to the client’s data and information.
They have a high level of encryption to ensure that everything is in secure hands. You can trade, transfer funds, deposit, withdraw without any worry.
RoboForex Rating & Reviews by Top10StockBroker
Based on different users and their experiences below are the company rating and reviews:
|User Experience||7.5 / 10|
|Products & Services||7.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||8.2 / 10|
|Trading Platforms||8.1 / 10|
|Overall Ratings||7.9 / 10|
RoboForex Forex Trading – Conclusion
To conclude, you can see how feature-rich this brokerage house is. It has more than thousands of financial instruments for trading and investments.
It can help the traders diversify and reduce the risk of investment.
Apart from that, multiple trading platforms, payments options, and offers also help the traders to have a great trading experience.
Here is the list of FAQs related to the RoboForex Broker:
Is RoboForex Safe for Trading?
Yes, RoboForex is completely safe for trading. All the data are encrypted and thus no one else can access them.
What is the Commission for RoboForex?
The commission varies from $0.0045 per share to $10 per million traded. There are also commission-free accounts.
How to Open a Trading Account with RoboForex?
To open an account with RoboForex you can –
- Click on this tab “ open account”
- Fill the pop-up form and submit
- RoboForex associates will call you
- They will ask for documents for KYC
- Submit the documents
- Wait for KYC to get done
- Your account will be live if KYC is approved
Can I invest in Cryptocurrency with RoboForex?
Yes, there are multiple cryptocurrencies that you can trade. There are dash, Bitcoin, Ethereum, Litecoin, and others.
What leverage does RoboForex provide?
The leverage or exposure is different for different types of accounts. It varies from 300 times to 2000 times.
Does RoboForex have a trading app?
Yes, the RoboForex app is there. It is a mobile trading app available on android and iOS. You can trade on the go using this app.
How to contact RoboForex customer care?
You can use the live chat option from the trading terminal. You can also email them.
Is RoboForex Regulated?
Yes, IFSC regulates RoboForex in Belize. Its regulations are also applicable in other countries the firm operates.
Is RoboForex good for Beginners?
Yes, RoboForex provides the ultimate facilities, trading platforms, and demo account as well which can help the new traders to learn to trade easily.
Who founded RoboForex?
Rudolph Simmons founded RoboForex in 2009 in Belize.
It is a privately held brokerage house that primarily provided forex trading services.
However, now it has broadened its arms and provides multiple assets for trading.
Open a Forex Trading Account Now! – Fill up the Form
Learn everything about Forex Trading