Low - VariableRoboforex Review
Table Of Content 👇
RoboForex has over 3,523,000 clients from nearly 169 countries, and it has been the winner of several prestigious awards, including the Global Brands Magazine Awards’ “Best Investment Products,” the Global Forex Awards “Most Transparent Asian Forex Broker,” the International Business Magazine’s “Most Trusted Broker,” and the IAFT Awards’ “Best Broker of the CIS,” among others.
| 💱 Instruments | Forex, Stocks, Indices, ETFs, Commodities, Energies, Metals |
| 💳 Funding & Withdrawal | Wire Transfer, Visa, MasterCard, Skrill, Neteller, FasaPay , Santander, HSBC, Caixa, Boleto, Santander Rio, Bancolombia, PSE, Banco Do Brasil, Bradesco, ITAU, POLi, Webpay, Perfect Money, AdvCash,, Mobile Money, JCB |
| 💻 Broker Type | Broker, NDD, STP |
| 👨🏽💻 Account Types | Demo, Real, Contest, CopyFX Trader |
| ⌛️ Language | English, French, Italian, Spanish, Portuguese, German, Dutch, Polish, Arabic, Hebrew, Danish, Norwegian, Czech, Slovak, Bulgarian and Chinese |
| 🎮 Virtue | CopyTrade |
Pros / Cons
- Segregated client funds
- Negative balance protection
- Financial Commission member
- 9,400+ trading instruments
- Multiple trading platforms
- Flexible account types
- Multiple awards
- Zero Commissions on Pro Accounts
- Wide Range of Accounts (Including Islamic and Copy)
- Min. deposit from $10
- Established in 2009
- No US clients
- Restricted leverage for EU clients
- No fixed spread accounts
- Fees on Withdrawal of Funds
- Not FCA Regulated
Account Types
RoboForex offers two commission-free accounts, ProCent and Pro, ideal for testing new strategies and EAs. The minimum deposit is $10, and the maximum leverage 1:2000. These account types have certain strengths, but their trading costs are higher than the other account types offered.
The three most competitive account types to consider are Prime, ECN, and R StocksTrader. The minimum deposit remains the same, except for R StocksTrader, where it is $100, and Prime is also at $100. RoboForex lowers the maximum leverage to between 1:300 and 1:500, but all three are excellent choices.
What Can I Trade
RoboForex offer traders 36 currency pairs, 100+ commodities, 10+ index CFDs, 12,000+ equity CFDs, and 1,000+ ETFs. While RoboForex offers a relatively low selection of currency pairs, it maintains an excellent choice of all other trading instruments.
Trading Platforms
RoboForex offers MT4 and MT5, and its proprietary R Trader platforms. It is refreshing to see a huge effort being made to provide the proper trading environment for different trader mentalities and strategies. I highly recommend the proprietary R StocksTrader, which also supports algorithmic trading.
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 StocksTrader accounts.
Bonuses and Promotions
RoboForex offers four bonuses, a $30 no deposit bonus, a VIP program, and free trading contests. The 60% Profit Share, the 120% Classic, and the $30 Welcome offers apply only to the ProCent and Pro accounts.
A 15% cashback is available to all verified trading accounts with a minimum trading volume of 10 lots per month. This can lower trading costs significantly. RoboForex pays between 2.5% to 10% on the account balance if traders reach minimum volume requirements.
Spread and Fees
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. 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.
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.
Desposit Fees
Roboforex does not charge deposit fees. Although bank / 3rd party merchant fees may apply.
You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.
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.
Conclusions
RoboForex is definitely not scam but we can't say for real sure because of visa methods. Since visa or master heavily regulated and Roboforex is failing on Visa side requirements. For 3 years of feeling, this broker is just dying out of market. Lack of support and unprofessional feedback to clients. On the other side RoboForex is a leading online trading platform offering one of the fastest Stocks, Indices, Forex, commodities, ETFs trading platforms available.
1:2000
RoboForex has over 3,523,000 clients from nearly 169 countries, and it has been the winner of several prestigious awards, including the Global Brands Magazine Awards’ “Best Investment Products,” the Global Forex Awards “Most Transparent Asian Forex Broker,” the International Business Magazine’s “Most Trusted Broker,” and the IAFT Awards’ “Best Broker of the CIS,” among others.