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Roboforex Review 2023 Expert Review

roboforex review

It means that the broker serves as a market maker for cent accounts and as an intermediary (provides a bridge) between the clients and liquidity provider for standard and ECN accounts. Roboforex offers traders security via 2 factor authentication, SSL encription when trading with Roboforex. Roboforex trading accounts are masked and encrypted using cutting-edge encryption and masking technology to secure your personal and financial information when trading with Roboforex.

Best PAMM Accounts Forex Brokers Reviewed – Public Finance International

Best PAMM Accounts Forex Brokers Reviewed.

Posted: Mon, 13 Feb 2023 08:00:00 GMT [source]

In this review, Benzinga describes the many benefits traders can expect from this award-winning international broker. At RoboForex, users in different markets are assured of a seamless trading experience. It is currently servicing international Forex investors, and over a million traders have opened a demo account with the platform. RoboForex provides its clients with the best promotional offers in financial markets.

Deposit Options

Since its inception in 2009, RoboForex has been gradually gaining popularity among Forex traders. It is registered in the Island nation of Belize, which is a major offshore financial hub with a strong financial sector. RoboForex’s office is located at 2118 Guava Street, Belama Phase 1, Belize City, Belize.

  • RoboForex provides a range of trading platforms to cater to different trading needs and preferences.
  • Yet, check carefully since some of the methods apply an additional fee for withdrawal, e.g.
  • Over the last decade, the broker has received as much as 20 awards from industry-leading companies and was named as one of the best operators many times.
  • It includes Bitcoin, Dash, EOS, Ethereum, Litecoin, Ripple, and others.

For example, most account types have access to 36 different currency pairs. The ProCent platform only has access to the 36 currency pairs, and metals. Clients at Roboforex can choose from six different trading platforms, which includes the two social trading platforms offered at the broker. Basic trading platforms include both MetaTrader 4 and MetaTrader 5, the broker’s proprietary R-Trader platform, and the popular cTrader. Traders can choose from thousands of stock CFDs in addition to shares.

Recommended broker

Equity traders pay $200 per $1,000,000 in volume in the ECN account and $150 in the Prime account, which is in the higher tier of the competitive range. We learned that RoboForex’s flexibility in terms of platforms, currency pairs, and a number of provided solutions is another key advantage to its positive side. The broker offers good educational materials and research tools suitable for traders of different levels. Concluding the RoboForex review, we admit a safe broker offers quality trading solutions.

In addition to its diverse account types and trading instruments, Roboforex also offers several different trading platforms. The broker supports both the popular MetaTrader 4 and MetaTrader 5 platforms, as well as their own proprietary platform, R Trader and cTrader. These platforms are available for desktop, web, and mobile devices, ensuring that traders can access the markets wherever and whenever they want. If you’re a forex or multi-asset trader currently seeking an online broker that would fill all your needs, then RoboForex could be the forex broker you’ve been looking for. With RoboForex, you have your choice of trading platforms, seven asset classes, a variety of account types and low minimum deposit requirements.

Also, being in the market for a long time, you can buy a range of custom technical indicators for this platform as well as fully automated trading algorithms. RoboForex has also partnered with investment platforms like CopyFX and developed unique RAMM accounts roboforex review so that traders can automate their trading. The reviews of RoboForex confirm that the trader platform Robomarkets Ltd is the best among reliable forex brokers. The website’s functionalities are regulated by the International body of the European CySEC.

Cashback depends on the trading turnover for the month on already closed orders. But the main feature of the terminal is the ability to view the depth of the market, or as it is also called – the level2 glass. Here you can see not only the nearest to the price buy or sell orders, but also more distant, so-called “icebergs”.

Roboforex Withdrawal Fees and Withdrawal Methods

Check out the huge range of tradable securities offered by Interactive Brokers. Commissions and spreads at RoboForex start from $15 with variable spreads starting at 0.0 pips. In this case, the leverage can either dramatically increase your profits, or you could be left with a huge debt. For example, if you have a $10,000 position, you might hold just $1,000 in your account. There are two major types of commodities available, they are hard and soft commodities. Soft commodities are those that are a result of agricultural activities, such as wheat and flour.

First of all, you have to choose which account you want to use and create one. After that, you will be able to make your first deposits, open trading platform, and start trading. Let’s discuss RoboForex’s account types so that you can choose which one is best for you. In addition to all the tools mentioned above clients also get access to a wealth of educational materials provided by MetaQuotes, the parent company of the MetaTrader platforms. This includes trading strategies, short and long-term, video tutorials, and a few other videos covering VPS hosting, signals, and robo-advisors.

RoboForex Fees Explained 💸

MetaTrader 4, known as MT4, is a trading platform used by online retail foreign exchange traders. The software is licensed to foreign exchange brokers who provide the software
to their clients. It is a free-of-charge Forex trading platform, offering wide technical analysis options, flexible trading system,
and algorithmic and mobile trading. MT4 is a popular online trading platform that can be used to automate one’s trading. Its simple user interface provides users
with access to advanced technical analysis and flexible trading systems.

The classic bonus program offers up to 120% bonus on deposits, giving traders additional funds to trade with. The profit share bonus program allows traders to earn up to 60% of the profit generated by their referrals, making it an attractive option for traders who have a large network of contacts. The up to 10% on account balance program is another great way for traders to boost their account equity. The cashback rebate services offer traders the opportunity to earn cashback for each trade they make, reducing their trading costs.

In addition to these two regulatory agencies, there also are other commissions that RoboForex is registered with. This Forex broker is an official participant of the FInancial Commission, which is an international organization. It focuses on resolving disputes between its participants and their clients. It includes Bitcoin, Dash, EOS, Ethereum, Litecoin, Ripple, and others. You can trade cryptocurrencies 24/7, with a minimum deposit of just $10.

How long does RoboForex withdrawal take?

Depending on the chosen payment system, you may be asked to specify some additional information on the next page to create a withdrawal application. Please note that withdrawal applications are processed by the Company within two business days from 9:00 AM to 6:00 PM (EET).

CFD trades on stocks, indices, and commodities are not considered in the calculation of the trading turnover. As per the RoboForex review, it provides negative balance protection. The commission-free Pro account features an average spread of 1.4 pips or $14.00 per standard lot. RoboForex shines brighter in its commission-based options, where it ranks among the cheapest brokers. The ECN account shows an average spread of 0.1 pips for a commission of $2.00 per lot, bested in the Prime account, where the commission drops by 50% to $1.00.

These range from a Pro/ProCent account level up to the Prime account level. One of the keys to our research included registering for a demo account at RoboForex. This allowed us to test their trading platform, their mobile platform, and the responsiveness and utility of both.

Examining the block with charts in more detail, it should be noted immediately that there may be more charts displayed on the main page and they can be grouped according to different principles. For example, you can display three charts of the same instrument, but with different time values. RoboForex commodities incorporate low-risk trading conditions in a Forex market.

Charting devices, complete exchange records, and permits to automated exchanges are provided on the platform. With the R Trader functionalities, users are not affected by hindrances such as software updates on their web browser for RoboForex. The rTrader platform has a seamless interface that is easy to operate. The initial deposit mandate at RoboForex for the rTrader platform is just $100. At RoboForex, the money obtained by the cashback rebates feature is permitted to be exchanged according to the users’ needs.

roboforex review

Traders need to know the difference between their and the broker’s responsibilities. A broker cannot be held responsible for the loss of traders’ funds. They can only be held accountable if they refuse to pay you out your profits or if they use illegal tactics to keep you from profits. This also means that there must mutual trust between broker and trader, who both have to understand the other side.

Educational resources are brilliant for educators to help deliver the best quality lessons. Roboforex live chat support is a way for customers to obtain help from Roboforex through
an instant messaging platform. It can be a proactive chat pop-up, with a chat box appearing on the screen and asking if you need help. Livechat is great if you require a reponse to your support request withing 15 minutes. Traders can follow the markets and make wise investment decisions on Roboforex by using the news to help form a strategy when it comes to choosing investments. A Roboforex news trading strategy involves trading based on news and market expectations, both before and following news releases.

roboforex review

As our review of RoboForex shows, the company is based in Belize, which means that it is regulated by the Internationa Financial Services Commission of Belize. It also is part of the Financial Commission and Compensation Fund, which means that your funds will be safe with this Forex broker. The Forex broker offers more than 12,000 trading instruments, across 8 different asset types.

If you prefer order execution speed and unconventional instruments to implement your trading strategies, this platform might be a perfect choice for you. You will get access to 54 technical indicators and 14 timeframes, in addition to the rare types of orders. When you are using high leverage, if something goes wrong and your position is not successful, you are in great danger of losing a lot of money. In some cases, people have lost more money than they even had on their trading accounts.

Can RoboForex be trusted?

Overall, RoboForex can be summarised as a credible and trustworthy broker with advanced trading tools for pro-traders. Roboforex offers 24/7 support with a high trust score of 88 out of 99.