Reply To: Roboforex – legit or scam?

#193727
James Barra
Moderator
    DayTrading.com Team

    Hi Del,

    Check out our review of RoboForex. We scored it 3/5 for ‘Regulation & Trust’:

    It’s a legitimate company with over 15 years in the industry and safeguards like negative balance protection (so you can’t lose more than your initial investment) and segregated client accounts (protecting your funds from company misuse).

    However, RoboForex is based offshore and registered with the International Financial Services Commission (IFSC) in Belize. This allows it to offer high leverage (dangerous for inexperienced traders) but you may not get access to investor compensation in the event of brokerage insolvency and you should expect limited legal protections and recourse channels in the event of disputes.

    That’s why we generally suggest traders use brokers regulated by trusted financial bodies.