RoboForex Forex Broker
Basic Information
Belize
10-15 years Regulated in Belize Retail Forex License White label MT4 White label MT5 Global Business High potential risk Offshore RegulatedCompany profile
Rating Index
Pros
Low minimum deposit of $10, making it accessible for beginner traders.
Offers a wide range of financial instruments with over 12,000 options, including forex, stocks, and commodities.
Competitive trading conditions with tight spreads starting from 0 pips and high leverage options up to 1:2000.
Cons
Limited number of currency pairs available for trading, with only 28 pairs on certain accounts.
Withdrawal fees may apply, which could affect overall profitability for traders.
Not regulated by a tier-1 authority, which may raise concerns about safety and reliability for some traders.
RoboForex Broker - Complete Information Guide
1. Broker Overview
RoboForex, established in 2009, is a prominent international brokerage firm specializing in forex and CFD trading. Its headquarters is located at 2118 Guava Street, Belama Phase 1, Belize City, Belize. The company operates as a private entity, providing services to a diverse clientele across the globe, with a particular focus on retail traders.
Since its inception, RoboForex has experienced significant growth, serving over 4.56 million clients from nearly 169 countries. The broker has received numerous awards, including recognition for its innovative trading solutions and commitment to client satisfaction. Key milestones in its history include the introduction of cent accounts for novice traders, the launch of its proprietary platforms, and the establishment of partnerships with reputable financial institutions.
RoboForex operates under a hybrid business model, offering both retail forex trading and institutional services. The broker's commitment to leveraging cutting-edge technology has allowed it to maintain a competitive edge in the ever-evolving financial markets.
2. Regulation and Compliance Information
RoboForex is regulated by the Financial Services Commission (FSC) of Belize, holding license number 000138/7. This regulatory body oversees the operations of financial service providers in Belize, ensuring compliance with local laws and regulations. While the FSC is recognized as a tier-3 regulator, it provides a certain level of oversight and protection for traders.
In addition to its FSC regulation, RoboForex is a member of the Financial Commission, an international organization that resolves disputes between its members and clients. This membership includes participation in a compensation fund, which protects clients up to €20,000 per case if a member refuses to comply with a Financial Commission judgment.
RoboForex implements robust KYC (Know Your Customer) and AML (Anti-Money Laundering) measures to ensure the integrity of its operations and protect clients' funds. Client funds are kept in segregated accounts, providing additional security against potential financial mishaps.
3. Trading Products and Services
RoboForex offers an extensive range of trading products, featuring over 12,000 instruments across various asset classes. This includes:
- Forex Pairs: A diverse selection of 28 currency pairs, including major, minor, and exotic currencies.
- CFDs: A broad array of contracts for difference, covering indices, commodities, stocks, and ETFs. Notably, the broker does not offer physical cryptocurrencies but provides access to crypto CFDs.
- Special Products: The R Stock Strader platform allows traders to access a wide selection of stocks and ETFs, enhancing the trading experience.
The broker frequently updates its product offerings to meet client demands and market trends, ensuring a competitive edge in the trading landscape.
4. Trading Platforms and Technology
RoboForex supports multiple trading platforms to cater to various trader preferences. The platforms include:
- MetaTrader 4 (MT4): A widely used platform known for its user-friendly interface and powerful trading tools.
- MetaTrader 5 (MT5): The successor to MT4, offering enhanced features such as additional timeframes and advanced order types.
- R Stock Strader: A proprietary platform designed specifically for stock trading, featuring advanced charting tools and a user-friendly interface.
- WebTrader: A browser-based platform that allows trading without the need for software installation.
RoboForex also provides mobile trading applications for both iOS and Android, ensuring that traders can manage their accounts on the go. The broker operates on a no dealing desk (NDD) model, utilizing STP (Straight Through Processing) and ECN (Electronic Communication Network) execution methods to facilitate fast and efficient order execution.
5. Account Types and Trading Conditions
RoboForex offers a variety of account types to suit different trading styles and experience levels:
- Pro Account: Minimum deposit of $10, with floating spreads starting from 1.3 pips and no commissions.
- ECN Account: Designed for professional traders, with minimum deposits of $10, spreads from 0 pips, and a commission of $3.5 per lot.
- Prime Account: Requires a minimum deposit of $10, offering competitive conditions with spreads starting from 0 pips and a commission of $2 per lot.
- Pro-Cent Account: Aimed at beginners, allowing trading with cents, with a minimum deposit of $10 and floating spreads from 1.3 pips.
- R Stock Strader Account: Requires a minimum deposit of $100 and focuses on stock trading.
Leverage options vary by account type, with maximum leverage reaching up to 1:2000 for specific accounts. The broker also provides a demo account for traders to practice without financial risk.
6. Fund Management
RoboForex supports various deposit and withdrawal methods, ensuring flexibility for its clients. Available deposit methods include:
- Bank Transfers
- Credit/Debit Cards
- E-wallets: Such as Skrill, Neteller, Perfect Money, and more.
The minimum deposit requirement is $10 for most accounts, while the R Stock Strader account requires $100. Deposits are processed quickly, typically within 24 hours, and are free of charge.
Withdrawals can be made through similar channels, with processing times varying based on the method used. While RoboForex does not impose withdrawal fees, some methods may incur charges. For instance, bank transfers may take up to 5 business days, while e-wallet withdrawals are usually processed within minutes.
7. Customer Support and Educational Resources
RoboForex provides 24/7 customer support through various channels, including live chat, email, and phone. The support team is available in multiple languages, ensuring accessibility for a global clientele.
The broker offers a wealth of educational resources, including:
- Video Tutorials: Covering various trading strategies and platform usage.
- Webinars: Focused on market analysis and trading techniques.
- Articles: Providing insights into trading psychology, risk management, and market trends.
Additionally, RoboForex features research tools such as an economic calendar, market analysis reports, and trading signals to assist traders in making informed decisions.
8. Regional Coverage and Restrictions
RoboForex serves clients from a wide range of regions, with a focus on providing services to international markets. However, the broker does not accept clients from certain countries, including:
- United States
- Canada
- Australia
- Japan
- Russia
These restrictions are in place due to regulatory requirements and the broker's operational policies. Traders are encouraged to verify their eligibility before opening an account.
In conclusion, the RoboForex broker stands out for its diverse range of trading products, competitive trading conditions, and robust educational resources, making it an appealing choice for both novice and experienced traders. However, potential users should consider the regulatory environment and the associated risks before engaging with the platform.
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Latest Reviews
Tamthaithu643
Vietnam
I started live trading with them in June 2024. When I wasn't making a profit or withdrawing money, everything was fine. But once I started making profits and made my first withdrawals, it felt like my account was immediately targeted. I had stable profits, and starting in April, I began withdrawing small amounts (a few dozen USD) without any issues. Trading remained smooth, and by the end of July into early August, I continued to withdraw three times, each time a few hundred USD. Suddenly, on the afternoon of August 12, I could no longer trade, and all my open orders were closed (not by me, but by the platform itself). When I submitted a support request, they replied via email the next day: “We have decided to terminate our partnership with you.” (I have attached the screenshot below) This is clearly a fraudulent platform. As soon as you make a profit, they will lock your account without cause!
Exposure
11-25
lipaul1964
Australia
it is quite reliable in terms of trades, spreads, etc
Positive
09-29
Di xa cung be ban
Vietnam
I saw a Facebook post advertising that you could start trading with 0% capital, just by registering an account and filling in your personal information to receive money for trading, then simply waiting for them to send the results. I followed the instructions and registered via the link they provided. About a week later, an IB contacted me. What was suspicious was that all previous messages had been deleted on both sides. The IB asked me to transfer 10% of the profits upfront in order to withdraw all the profits they claimed to have traded. I asked to see my account because they had changed the password immediately after I registered. They immediately blocked all my messages. I tried everything I could to get my account back because I suspected something was wrong. Fortunately, I was able to recover it using the email and phone number I had registered. When I accessed it, there was no profit at all, not even the capital or any transactions. They sent me a fake image showing a profit of over $52 million, in order to lure me into transferring $5.2 million, corresponding to 10%.
Exposure
11-25