RoboForex Broker Review ⭐ How to open an account?

RoboForex is an online brokerage company that provides trading services to individuals and institutional clients in the global financial markets. Established in 2009, the company has since become a reputable player in the industry. To ensure the safety and security of client funds, RoboForex operates under the strict supervision of various regulatory authorities, including the International Financial Services Commission (IFSC) and the Cyprus Securities and Exchange Commission (CySEC). These regulations provide a level of protection for traders’ investments.

RoboForex Broker offers a wide range of financial instruments for trading, including currencies, stocks, indices, commodities, and cryptocurrencies. Traders can access these markets through various trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which are known for their user-friendly interfaces, advanced charting tools, and extensive technical analysis capabilities.

One notable feature of RoboForex is its variety of account types designed to cater to different trading needs. It provides different account options, including Pro-Standard, ECN, and Prime accounts, each tailored to suit different trading strategies and priorities. Additionally, RoboForex offers Islamic accounts for traders who adhere to Sharia principles. The broker is known for its competitive trading conditions, including tight spreads, fast execution, and a no-dealing-desk approach, which Brokerland will thoroughly examine in this broker review to assist you in making an informed choice when opening an account.

RoboForex Broker Review

RoboForex is a popular international brokerage established in 2009, offering its services globally, including Iran. The broker is highly regarded by traders in the Forex market, primarily due to its advanced trading offerings and favorable portfolio conditions.

RoboForex is a Belize-based Forex and CFD broker offering 8 asset classes and over 12,000 instruments for trading. One of its standout features is the wide range of trading platforms it offers, including MT5, MT4, cTrader, and the powerful R Stock Trader. The broker provides various advanced technologies for trading.

Main Office	Belize
Regulation	FSC (Financial Services Commission)
Trading Instruments	8 asset classes including Forex, Stocks, Indices, ETFs, Commodities, Energies, and Metals
Trading Platform	MT4، MT5، R StocksTrader، cTrader
Minimum Deposit	10 $
Base currency	USD، EUR، CNY، Gold
Demo Account	Available
EUR/USD Spread	From 0 pips
Forex Learning	Comprehensive educational resources with analysis
Customer Support	24/7

RoboForex Pros ans Cons

RoboForex is considered a safe choice for trading through an internationally recognized institution. The broker boasts a long-standing history of excellent reputation and offers a wide range of account types, trading platforms, free proprietary Forex signals, and advanced research tools. It also provides powerful trading features suitable for advanced traders.

On the downside, trading commissions can vary depending on the platform and account type, which may seem complex. However, the company’s website contains detailed information about its terms, allowing for thorough analysis. Additionally, RoboForex is based in Belize, which, in terms of regulation and offshore status, enables it to offer services to Iranians.

Awards

RoboForex serves customers from over 169 countries, with around 1,000,000 traders, and provides support in over 10 languages. The focus is on developing trading proposals with innovative technological solutions and modern tools for trading.

Overall, RoboForex’s advances and offerings have been recognized with over 30 industry awards. Coupled with regular financial support and global activities, the company is well-known. It’s currently operating as the official sponsor of Cienciano Club for the 2022/23 season and supporting the fight of Andrei Kulebin.

2022 – 2021 Awards:

Best Mobile Trading Application
Best Prime Trading Account
Most Reliable Broker
Best Multi-Asset Trading Platform
Best Investment Products
Most Transparent Broker
Best Stock Broker
Broker of the Year
Best Investment Products
Most Profitable Broker
Best Partner Union of Traders
Most Reliable Broker
Best Stock Broker
Best Multi-Asset Trading Platform
Best Prime Trading Account
Most Transparent Broker
Best Mobile Trading Education App

Awards from 2020 – 2018:

Best Investment Products
Best Affiliate Program
Most Reliable Broker
Best Mobile Trading Application
Best Investment Platform
Best Stock Broker
Best Investment Products
Safest Broker
Best ECN Broker
Best ECN Broker
Best Broker, Eastern Europe
Silver Supporter of the Championship of Automated Trading
Fastest Growing ECN Broker in Eastern Europe

Is it a Safe Broker or a Scam?

RoboForex Broker is a regulated broker with a license from the Financial Services Commission (FSC) in Belize. This means it can be considered a trustworthy and safe broker. The FSC Belize adheres to international anti-money laundering (AML) policies.

RoboForex’s Safety Highlights:

• Regulated by the FSC
• A member of the Compensation Fund of the Financial Commission
• Protection against negative balance
• Verify My Trade (VMT) execution quality certificate

Is RoboForex Legitimate and Regulated?

RoboForex Ltd is an international Forex broker registered with the FSC in Belize under license number 000138/333. The broker has also received the Verify My Trade (VMT) execution quality certificate, confirming its compliance with the strict requirements of the Financial Commission for its broker members. Additionally, RoboForex protects its customers from negative balances and keeps their bank accounts separate for added fund security. This regulated broker ensures the safety of customer funds, making it a secure choice among the best Forex brokers for traders.

How Does RoboForex Protect Customer Funds?

RoboForex keeps customer funds separate from the company’s funds, ensuring protection against any illegal use. The company is also a member of the Compensation Fund of the Financial Commission, which can be utilized in unlikely scenarios where the company fails to meet its commitments.

Leverage

RoboForex allows you to request leverage of 1:400, 1:500, or even up to a maximum of 1:2000 in your trades. Leverage is a tool that can potentially amplify your profits, but it’s essential to use it wisely, as it can also increase potential losses.

Types of Accounts at Roboforex

RoboForex offers five different types of accounts to cater to various clients. You can use USD, EUR, CNY, or GOLD as the base currency for your account. Here’s a list of the available account types and their features for your convenience:

Prime Account

• Trading Platforms: MT4, MT5, proprietary platform
• Tradable Symbols: 28 currency pairs, metals, CFDs on US stocks, CFDs on indices, oil CFDs, cryptocurrencies, CFDs on futures
• Minimum Deposit: $10
• Spreads: Floating from 0 pips
• Maximum Leverage: 1:300
• Deposit Bonus: Not available
• Loyalty Bonus: Available

ECN Account

• Trading Platforms: MT4, MT5, proprietary platform
• Tradable Symbols: 36 currency pairs, metals, CFDs on US stocks, CFDs on indices, oil CFDs, cryptocurrencies, CFDs on futures
• Minimum Deposit: $10
• Spreads: Floating from 0 pips
• Maximum Leverage: 1:500
• Deposit Bonus: Not available
• Loyalty Bonus: Available

R StocksTrader Account

• Trading Platform: Proprietary R StocksTrader
• Tradable Symbols: Over 12,000 real stocks, CFDs on stocks, currencies, ETFs, oil, metals, cryptocurrencies, futures
• Minimum Deposit: $100
• Spreads: From $0.01
• Maximum Leverage: 1:500
• Deposit Bonus: Not available
• Loyalty Bonus: Not available

ProCent Account

• Trading Platforms: MT4, MT5, proprietary platform
• Tradable Symbols: 36 Forex currency pairs, metals, cryptocurrencies
• Minimum Deposit: $10
• Spreads: Floating from 1.3 pips
• Maximum Leverage: 1:2000
• Deposit Bonus: Available
• Loyalty Bonus: Available

Pro Account

• Trading Platforms: MT4, MT5, proprietary platform
• Tradable Symbols: 36 currency pairs, metals, CFDs on US stocks, CFDs on indices, oil CFDs, cryptocurrencies, CFDs on futures
• Minimum Deposit: $10
• Spreads: Floating from 1.3 pips
• Maximum Leverage: 1:2000
• Deposit Bonus: Available
• Loyalty Bonus: Available

These accounts cater to different trading styles and preferences, so you can choose the one that suits your needs best.

RoboForex Trading Instrument

RoboForex Broker offers a wide range of trading symbols for traders, including:

1. Stocks
2. Indices
3. Futures
4. ETFs
5. Precious Metals (gold, silver, and over 20 ETFs on platinum, palladium, copper, and nickel)
6. Energy (natural gas, ethanol, and more)
7. Commodities
8. Cryptocurrencies (such as Bitcoin, Ethereum, and more)
9. Forex currency pairs (over 40 pairs).

Fees

RoboForex’s trading costs start from 0 pips, and they offer fast order execution. After our analysis and comparison with over 500 other brokers, RoboForex’s costs are rated on average. Commissions may vary depending on the platforms, but you can see the overall costs in the table below.

Spread

Spread values depend on the type of trading account you have, and we’ve provided these values in the table below.

You can also see the spreads for EUR/USD, Crude Oil, and Gold in the table below.

Additionally, always consider the cost of rollover or overnight fees. These fees are approximately -0.6 for short positions on EUR/USD and -0.052 for long positions held for more than one day.

Deposits and Withdrawals at RoboForex

RoboForex offers a variety of payment methods, including bank transfers, credit cards, and e-wallets. Unfortunately, due to Iranian restrictions, these options may not be available for Iranian clients. Iranian clients may explore alternative methods such as exchanging local currency (Rial) via local exchanges and using digital wallets like WebMoney and Perfect Money for deposits and withdrawals at RoboForex.

Here is a step-by-step guide for withdrawing funds from RoboForex:

1. Log in to your user account.
2. Select “Withdraw Funds” from the menu tab.
3. Enter the withdrawal amount.
4. Choose the withdrawal method.
5. Complete the electronic withdrawal request with the necessary details.
6. Confirm and submit the withdrawal information.
7. Check the current withdrawal status via your dashboard.

Trading Platforms

RoboForex offers a wide range of trading platforms for you to choose from, allowing you to tailor your trading approach to your preferences and style. The main recommendations are the MT4 and MT5 platforms, while traders can opt for cTrader or the proprietary platforms developed by RoboForex, R Web Trader, and R Mobile Trader.

Web-Based Platforms

All offered platforms at RoboForex, including MetaTrader and cTrader, are available via web versions and desktop versions. These options provide comprehensive chart analysis and suitable toolbars for both professional traders and daily traders.

Desktop Platforms

Alongside desktop platforms, you can take advantage of the R StocksTrader strategy, a free and user-friendly tool aimed at automating trading performance for traders. This feature is excellent as it doesn’t require any programming skills, which are typically needed when using artificial intelligence in Forex.

MT4 is the most popular platform and includes advanced charting features along with robots and the best indicators, making it suitable for any trading strategy, such as scalping and stochastic strategies. If you prefer the latest version of MetaTrader, MT5 offers the choice between netting and hedging systems through four types of execution. Additionally, MT5 includes comprehensive market analysis tools.

Copy Trading

RoboForex Broker has developed customized tools and solutions for investors, allowing you to choose copy trading or find solutions for market professionals. The CopyFX platform is excellent for easy and reliable investing among over 9,000 top traders, similar to a PAMM account offered by some other brokers.

Forex Learning

RoboForex provides essential educational materials and resources to learn forex, especially valuable for beginners. You can also participate in trading competitions to assess your skills and increase your level. Market analysis, technical analysis, and a wide range of trading tools are available at RoboForex. Furthermore, traders can access a trading history and excellent tools, including a calculator, strategy builder, and trading ideas, dating back up to 1 year. All of these features are offered on the platforms along with powerful functionalities.

Conclusion of RoboForex Broker Review

In conclusion, RoboForex is a reliable broker that offers quality trading solutions and recommendations. Their flexibility in terms of platform diversity, currency pairs, and various types of trading accounts sets them apart as one of its key positive aspects. This broker provides excellent educational materials and research tools for traders at different levels.

RoboForex is suitable for:

• Beginners and advanced traders
• Traders who prefer MT4/MT5 and cTrader platforms
• Forex and CFD trading
• Various trading strategies
• Algorithmic traders or API users
• Traders in need of 24/7 customer support
• Those looking for good educational and research content