RoboForex Review and Tutorial 2021

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RoboForex Facts & Figures

RoboForex is a multi-asset online broker offering powerful trading aides.

Awards
• Best Global Mobile Trading App 2020 - Global Forex Awards B2B
• Best Broker of the CIS 2019 - IAFT Awards
• Best Investment Platform 2019 - IAFT Awards
• Best Educational Forex-Center CIS 2019 - IAFT Awards
• Best Stock Broker Asia 2019 - International Business Magazine Awards
• Best Investment Products 2019 - Global Brands Magazine
Bonus$30 welcome deposit bonus
InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies, cryptoindices, ETFs
Demo AccountYes
Min. Deposit$10
Pay MethodsAlipay, Bitcoin Payments, Cashu, FasaPay, Giropay, iDeal, MoneyGram, Neteller, Perfect Money, POLi, QIWI, Rapid Transfer, SafeCharge, Skrill, Sofort, Trustly, Visa, Webmoney, Wire Transfer, Yandex Money
Min. Trade0.01 lots
Regulated ByIFSC
MetaTrader 4Yes
MetaTrader 5Yes
cTraderYes
STP AccountYes
ECN AccountYes
DMA AccountNo
Mobile AppsYes
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
CFD
Trade CFDs with up to 1:2000 leverage.
FTSE SpreadN/A
GBPUSD Spread2
Oil Spread5.2
Stocks SpreadFrom 0.1
Leverage1:2000
Forex

Trade FX with high leverage levels.

GBPUSD Spread2
EURUSD Spread1.4
EURGBP Spread1.6
Assets40+
Cryptocurrency

Trade crypto coins against the USD and EUR.

SpreadVariable
CoinsBTC, ETH, XRP, LTC, DSH, BCH, EOC
Risk Warning – Your capital is at risk

RoboForex is an online broker providing trading assets on their Pro-Cent, Pro-Standard, and RAMM live accounts. The broker offers an impressive selection of platforms, including MT4 and MT5, which we explore in this review, along with regulation, bonuses and deposits.

RoboForex Company Details

Founded in 2009, RoboForex has headquarters in Belize and is regulated by the International Financial Services Commission (IFSC number 000138/210). The broker offers over 12,000 trading instruments in 8 asset classes, as well as 2 investment platforms and 4 trading platforms.

RoboForex has earned a good reputation over the years with 3 million live accounts opened since inception. The company has also made the news as the official partner of BMW M Motorsport and has secured a sponsorship deal with Muay Thai Fighter and world kickboxing champion, Andrei Kulebin.

The brand have a global presence, delivering tailored solutions, from copytrading, to crypto deposits, Roboforex meet the needs of their customers.

Trading Platforms

MetaTrader 4

MT4 includes all the essential features a beginner or advanced trader would need, with 50 indicators for technical analysis, basic graphical tools, and 3 order execution types. Users can also program their own trading robots with StrategyQuant and take advantage of the one-click trading capability.

RoboForex MT4 platform
RoboForex MT4 platform

The platform is available as a downloadable desktop client or a convenient webtrader accessible straight from a browser.

MetaTrader 5

Professional traders can take advantage of the cutting edge MT5 platform, which provides speed and reliability for advanced trading. The flexible system features netting and hedging capabilities, Market Depth, 4 types of order execution, 6 types of pending orders, and dozens of technical indicators and graphical tools.

RoboForex MT5 platform
RoboForex MT5 platform

Again, users can enjoy either the downloadable PC application or the web-browser version of the platform.

cTrader

For experienced clients looking for an alternative to MetaTrader, the cTrader terminal is a sensible option. Users can access rare types of orders, Level II pricing, plus 54 technical indicators on 14 timeframes and 9 types of charts. You can also create trading robots and indicators using cTrader Automate.

RoboForex cTrader Web platform
RoboForex cTrader Web platform

The platform can be downloaded or accessed straight from a browser. The web version is ideal for MacOS PC users.

R Trader

The easy-to-use proprietary platform, R Trader offers a classic design and convenient trading for those who wish to invest in global markets.

Users can access 13 technical indicators, 9 graphical tools, Level II Market Depth and an automated strategy tester. Netting and hedging account models are also supported.

RoboForex R Trader platform
RoboForex R Trader platform

R Trader is available both as a web-platform as well as a desktop application.

The platform allows for real stock trading in addition to CFD trading. So clients can own the assets outright. It also delivers live access to Nasdaq listings, meaning traders can watch their orders being fulfilled.

The option to trade shares via both traditional methods, but also via CFD derivatives, offers traders more flexibility than they will get anywhere else.

CopyFX

The CopyFX platform delivers copy trading for Roboforex customers.

Traders can find profitable traders, based on trading history, assess performance and set up alerts or signals. When copied traders open or close trades, followers have 100% flexibility on whether to copy the trade immediately or not.

The tool has proved very popular, with the CopyFX Profibot system the most researched.

As with other leading copy trading options, such as eToro, the key is depth of copy fx traders to follow. Without a large bank of traders, those looking to copy will find limited choices. Thankfully CopyFX have a huge number of active traders, and more are joining all the time.

CopyFX ‘How To’ Video

RoboForex Assets

Clients can trade on 40+ currency pairs, over 12,000 global stocks, more than 10 indices, such as the Dow Jones (US30) and NASDAQ, 100 commodities, including oil, and ETFs.

The broker also offers 26 cryptocurrencies plus crypto-indicies, a unique product that allows for trading on several cryptos at once.

Overall, this review was impressed with RoboForex’s depth of products in 2021. Note detailed contract specifications can be found on the broker’s website.

Spreads & Commission

Pricing depends on the account you choose but spreads are fairly competitive vs brokers such as FBS and FXTM.

Fees for the Pro-Cent and Pro-Standard accounts are included in the spreads, which average around 1.4 pips for EURUSD, 1.75 for US indices, and around 22 for XAUUSD (Gold).

You will see tighter spreads with the Prime and ECN accounts, with zero pip spreads available in some asset classes.

Leverage

The maximum leverage offered at RoboForex is 1:2000 with Pro-Cent and Pro-Standard accounts. Leverage up to 1:500 is available with the ECN account while 1:300 leverage is offered with Prime and R Trader accounts.

A useful margin calculator is provided on the website.

Mobile Apps

For mobile traders, RoboForex offers smartphone apps for all their trading terminals (MT4, MT5, cTrader, and R Trader):

RoboForex mobile trading
RoboForex mobile trading

All platforms are available in 22 languages for both iPhone and Android (APK) users. Overall, users will find the most positive online reviews for the MT4 and MT5 mobile apps.

Payment Methods

Deposits

There’s no shortage of funding methods at RoboForex, with dozens of deposit methods in 9 different currencies, including USD, EUR, GBP and ZAR. International and local bank depositors are available, as well as card payments and e-wallets. PayPal is not accepted.

All deposit methods are free and fast and most methods require a 10 USD/EUR minimum deposit with standard accounts.

For Non-EU clients, deposits in cryptocurrency are also available. Traders can deposit, trade and withdraw – all while using cryptocurrency.

Withdrawals

There are 13 withdrawal methods available, though this may vary depending on your jurisdiction. Withdrawal times for most methods are just 1 day, which is praised in customer reviews in 2021.

Commissions for withdrawals vary but range from 0.5% to 2.8%. The group does offer a Free Funds Withdrawal programme which allows you to withdraw funds twice a month with no commissions. Further details and restrictions can be found on the website.

Cryptocurrency withdrawals are available for Non-EU clients.

Demo Account

RoboForex offers a choice of three demo accounts, suitable on all platforms: Demo Pro, Demo, and Demo R Trader.

The Demo Pro account is the most popular choice as it replicates the trading conditions of the standard account packages, with 1:2000 maximum leverage and floating spreads from 1.3 pips.

Users can test trading strategies without spending or risking real money.

You can open a demo account from the broker’s homepage. The practice account is free to use and expires after 90 days.

Bonuses

Pro-Cent and Pro-Standard new account users receive a welcome bonus of 30 USD after depositing a minimum of 10 USD via bank card.

Cent and Standard users can also benefit from the 60% Profit Share Bonus, as well as up to 120% on deposits by claiming the Classic Bonus.

The broker also offers other promotions, including up to a 10% bonus credit on account balances, cashback rebates based on trading volume, daily competition opportunities with ContestFX and a free VPS server.

Full bonus withdrawal terms and conditions can be found on the broker’s website.

RoboForex currently does not offer any no deposit bonus (NDB) deals in 2021 but has previously offered weekly demo contests, so traders should check the website for upcoming promotions.

Regulation

RoboForex Ltd is regulated by the International Financial Services Commission (IFSC) of Belize under license number 000138/210.

As an “A” category member of the Financial Commission, RoboForex Ltd is a participant of the Compensation Fund, which provides protection up to €20,000 per case.

The broker also holds Civil Liability insurance and provides negative balance protection. Overall, RoboForex is a legitimate and safe online broker.

Additional Features

RoboForex’s educational suite contains many useful resources for both casual traders and professional investors, including how-to guides, on-demand videos, forex analysis, plus a helpful community forum, blog and economic calendar.

RoboForex economic calendar
RoboForex economic calendar

The most notable feature is the RoboForex Analytics centre, a free subscription to analytical data and trading instruments from within one window. Available in 13 languages, and offering an interactive data layout, users can gain access to signals, videos, calendars, and tools for traders.

Accounts

RoboForex offers 5 live account types: Prime, ECN, R Trader, Pro-Cent, and Pro-Standard. The minimum deposit is 10 USD/EUR for all accounts, except the R Trader account, which requires a 100 USD deposit. These are refreshingly low minimum deposits compared to others, such as HotForex, Tickmill and Exness.

The ECN and Prime accounts are ideal for professional traders looking for spreads from zero pips, whilst the R Trader account supports multi-asset stock trading. Pro-Cent and Pro-Standard accounts are designed for beginners and casual traders.

This review found that the main differences between the accounts are the minimum margin requirements, leverage limits, margin call/stop-out levels, and access to bonuses. All bonuses are available with the Pro accounts, whilst no bonuses are available with the R Trader account.

Islamic swap-free accounts are also available, as well as investment solutions using CopyFX and RAMM platforms, supporting investment in both short-term and long-term trading strategies respectively.

You can open a real-money trading account from the RoboForex homepage and start trading in live markets.

Benefits

Reasons to open a RoboForex account include:

Drawbacks

The only major drawback for registering with RoboForex is:

Trading Hours

Forex can be traded 24 hours a day, 5 days a week, however specific active trading sessions depend on the time zone. All times below are in UTC+2 (Eastern European Time, EET).

RoboForex also posts useful trading schedule changes for national holidays.

Customer Support

RoboForex offers multilingual support in over 12 languages including English, Malaysian, Indonesian, Arabic, and Spanish. Help is available 24 hours a day, 7 days a week via:

The customer support team can help with most queries, from how to delete an account and user verification to clarification on ECN commissions per lot and how to reset your investor password.

The head office address is 2118 Guava Street, Belama Phase 1, Belize City, Belize.

Security

All RoboForex platforms use SSL encrypted security systems as well as dual-factor authentication protocols. Withdrawals and transfers can also be protected via an SMS confirmation code with each transaction. For their bonus programmes, the broker also has anti-fraud systems in place to protect against repeated transfers of funds.

RoboForex Verdict

RoboForex is an established online broker offering a wide range of assets on reliable trading platforms, including MT4 and R Trader.

The broker is also regulated and provides negative balance protection, adding an extra layer of trust and security for traders.

Overall RoboForex is a good broker for all levels but their zero-spread ECN accounts and RAMM platforms will be particularly attractive to professional traders.

CopyFX delivers a copytrading facility on par with eToro and other market leaders.

Cryptocurrency deposit and withdrawals for Non-EU clients represents a clear focus on innovation and delivering flexible trading options for clients.

Accepted Countries

RoboForex accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use RoboForex from United States, Canada, Japan, Australia, Russian Federation.

Alternatives to RoboForex

If you are looking for alternatives to RoboForex we have compiled a list of the top 5 brokers that are similar to RoboForex below. This list of brokers like RoboForex is in order of similarity and only includes companies that accept traders from your location.

  1. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  2. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  3. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
  4. Forex.com – Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
  5. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets

FAQ

Is RoboForex a scam or not?

RoboForex Ltd is a legit company registered in Belize and regulated by the International Financial Services Commission (Number 000138/210).

As a result, it’s unlikely to be a scam. With that said, the broker does receive mixed reviews on websites such as Trustpilot.

How do I open a RoboForex account?

You can sign up for a real account by clicking Open An Account on the right-hand side of the website. You will then need to fill in your new member details to register your area login credentials. The verification stage will then complete the process.

How can I delete my RoboForex account?

You can make your account inactive from within the members area. From the Account section, change the status of the account you want to remove to ‘no’.

Does RoboForex accept US clients?

No, traders from the USA cannot sign up for a live trading account. Clients from Canada, Japan and Australia are also unable to register for a RoboForex account.

Is RoboForex a Market Maker?

For all Cent accounts, RoboForex serves as the Market Maker. For all Standard and ECN accounts, the broker follows an STP model.

RoboForex is a multi-asset online broker offering powerful trading aides.

RoboForex vs Other Brokers

RoboForex vs