RoboForex

RoboForex is a stable forex broker that has been present in the market for many years, carving out a niche as an advanced platform in the financial markets. With the experience of opening 3 million real accounts since its foundation, the broker continues to serve clients worldwide. RoboForex operates under the umbrella of two companies – RoboMarkets Limited and RoboForex Limited. This dynamic forex broker successfully provides clients with access to financial markets, expanding its services in Forex and capital investment.

In the European domain, RoboMarkets Limited functions as a regulated broker under the scrutiny of the Cyprus Securities and Exchange Commission. Simultaneously, RoboForex Limited operates as an international forex broker, regulated and licensed by the International Financial Services Commission in Belize. What sets this company apart is its array of proprietary tools and solutions, surpassing popular platforms in functionality and user-friendliness. These proprietary programs are designed not only for trading but also to stand out in investing.

As we delve into our review, we aim to uncover the essence of RoboForex. Is it a serious competitor, a beacon of reliability, or a potential trap? Let’s delve into the nuances and reveal the true nature of this major player in the forex market.

 

Terms of Trading with RoboForex

RoboForex broker offers a diverse range of assets for successful trading, with a total of over 12,000 trading instruments. The forex market operates 24 hours a day, five days a week, with a daily turnover of $5 trillion, making it the largest asset on the platform. The list of assets also includes indices, stocks, precious metals, commodities, and more.

However, the company’s main feature extends beyond the variety of accounts and instruments. Despite not explicitly claiming innovation, RoboForex provides opportunities not only for trading but also for investing, Forex market education, and client participation in various contests, details of which are available on the roboforex.com website (The truth about Forex).

The financial broker RoboForex not only offers a wide range of services but has also received prestigious awards, including “Best Mobile Trading App” in 2023 and “Most Reliable Broker” in 2022. The company ensures protection against negative account balances and provides significant leverage, allowing clients to open large positions with minimal margin. In the event of extreme market volatility, RoboForex automatically closes all positions with insufficient margin, ensuring clients’ safety from significant losses.

 

RoboForex Platform

During its almost ten-year successful history, the broker has significantly expanded the number of terminals. They can be divided into trading and investment terminals, which include a set of algorithmic tools, i.e. capable of creating automated trading systems without learning programming languages. Apart from MT4 and MT5, which are already familiar to the market, RoboForex has added two terminals of its design to its arsenal. Several functions realized in them are very convenient for professionals, though not the most up-to-date solutions in the world’s trading industry.

MetaTrader 5

Experienced traders can leverage the advanced MT5 platform, known for its speed and reliability in sophisticated trading. This versatile system offers both netting and hedging capabilities, Market Depth, 4 order execution types, 6 pending order types, and a plethora of technical indicators and graphical tools. Users can utilize either the downloadable PC application or the web browser version of the platform.

R StocksTrader terminal

R StocksTrader is a trading terminal created by RoboForex, which, in principle, does not stand out among similar solutions and its functionality is quite similar to the usual MT4. Most likely, it has been created by the company to replace MT4 for mobile and desktop devices in order to reduce the expenses on license fees charged by MetaQuotes Software Company for the use of their terminals. According to statistics, the number of mobile devices with which clients trade and simply use the Internet is growing every year, and the availability of such a terminal can definitely be called a promising direction for the work of any serious broker.

R Trader is an online platform also developed by the broker, which does not need to be downloaded from the website roboforex.com it means that all its functionality is open to any client who has a computer and any browser installed, regardless of its power. Since one of the main objectives of online platforms is to make mastering the functions of the terminal for customers faster and easier, this has been implemented in R Trader.

The interface of the start page of the program begins with three blocks, in the first of which the client can see two charts of various trading instruments. The developers have made it clear from the start that the platform can work with several assets, simultaneously observing their dynamics on the main screen. 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. You can display several charts of different instruments and thus track the appearance of the signal for a large number of assets, increasing your chances of making a profit by finding a familiar and proven entry point for different instruments.

But perhaps the most important feature of the block with charts is the possibility to analyze correlations of trading instruments (analysis of two different charts on one screen). Of course, we cannot speak about this function as simple, nor can we say that any trader can use the analysis of correlations without prior preparation. However, the mere presence of this option turns the terminal from the category of ordinary programs into a more professional one allowing traders not only to trade instruments directly but also to make money in arbitrage trading by analyzing not the trends but the deviation of two assets from each other. Below in the program, there is a block where the information about active trading positions, history of transactions, and failed orders is displayed.

But one of the most interesting tabs of the program is the strategies. When passing to them, the trader is immediately offered 4 simple strategies for trading with their detailed description, as well as the opportunity to add their own strategy here. This feature is innovative. Even though the 4 strategies are not new and simple enough, for any beginner using these ready-made solutions will allow to immediately move on to training such important for him qualities as discipline or execution of actions clearly described in the strategy, instead of wasting time on testing his intuition in the market.

Studying this block, it is impossible not to emphasize the possibility of adding your strategy here, editing the already existing techniques, which positively affect any trader. Putting your trading strategy into the platform, which will always be at your fingertips and open along with the charts, also contributes to discipline. This partially solves the issue of having a trading journal, the first page of which always describes the strategy, and the trader usually rereads it before proceeding. This option makes the functionality of the platform simply unlimited.

The third block of the terminal can make any client of the company, who has any experience in trading, delighted. It includes 3 tabs, the first of which is Watchlist, a feature little familiar to MT4 and MT5 users, but one of the main features available in all terminals used for professional trading. The Watchlist is a list of trading instruments that the trader selects before the start of trading based on a pattern that has formed or is forming, on which he can get a forex market signal during the trading session.

It is some kind of homework, by doing which the trader discards all instruments that do not show a good technical or other model for trading, thereby increasing his chances of a good trade. Also for those who trade stocks, Watchlist already has pre-installed stock filters that show the top 10 best-rising and top 10 best-falling stocks, which also greatly simplifies the trading process here, because stocks don’t just turn around and a strong trend decline can continue for days on end.

Perhaps the most important feature of the R Trader terminal is the third tab, where you can see professional tools: a real stock market glass, and, most surprisingly, a print feed – a block that sequentially shows all incoming buy or sell orders in the market with the purchase price and transaction volume. Here you can get valuable information, that is available only to professional traders, working in paid terminals.

Looking at RoboForex terminals, it’s worth noting that while offering such multifunctional programs to traders, the broker also professionally prepares its clients for trading on the market. The “Training” section on roboforex.com provides a free video course consisting of 16 lessons that could well impress even experienced Wall Street traders. Just look at such lesson titles as “Stock Selection in the Reporting Season”, “Trend Shaping and Classification Rules”, and “Basic Rules for Swing Positions”. This allows us to discuss free training at RoboForex, which claims to provide a high-quality and professional education in trading, as a minimum.

Broker Quotes

Like many other brokers, this company is not in a hurry to disclose information about its liquidity providers on the roboforex.com website. This is not a coincidence. The broker offers different sources of information in order to make the quotes the most relevant: these are prime brokers, exchanges, aggregators, banking institutions, etc. This list changes depending on the type of accounts and assets, so it would be irrelevant and incorrect to specify any specific liquidity providers.

Broker Tools

In addition to the trading platform, the company provides its clients with various tools to facilitate trading.

Market Analysis

The broker’s primary tool is market analysis, encompassing technical analysis, fundamental analysis, various forecasts, and more.

Market Holidays

The functioning of global financial markets is closely tied not only to established trading hours but also to the consideration of national public holidays. During such holidays, some markets close earlier, and access to certain assets may be restricted. For instance, during Christmas or Thanksgiving, trading operations on the NYSE and NASDAQ exchanges are not possible. Additionally, most financial platforms close during the New Year holidays.

Every trader involved in financial markets must diligently monitor the calendar of national holidays. This is because holiday periods usually witness low market volatility, but immediately after their conclusion, upon the resumption of trading, activity sharply increases, posing significant risks for novice traders. On this page, you can find a schedule of national holidays for financial markets in 2023. Stay informed about important dates with RoboForex to stay abreast of market changes!

Economic Calendar

The RoboForex financial calendar provides comprehensive information about key events and important moments in finance. Here, you will find fresh company reports, data on price indices and financial indicators, as well as the latest updates on inflation and unemployment. Additionally, you can track the dates and times of speeches and reports from leading global financial regulators. This multifaceted set of information is designed to help traders make informed decisions in financial markets by staying informed about the dynamics of the global economy.

Trading Calculator

A trading calculator, also known as a leverage calculator or margin calculator, is a powerful tool beneficial for both novice and experienced participants in financial markets. This tool allows traders to perform online calculations of trade parameters and choose the most effective strategies before opening positions. The calculator aids in making informed decisions based on input data about the trade. To use this tool, just insert the necessary parameters and press the “Calculate” button.

 

Accounts on RoboForex

RoboForex provides a variety of account options tailored to meet different trading needs:

• ProCent: Ideal for testing advisors and strategies, this cent account features a floating spread from 1.3 pips, leverage up to 1:2000, and a minimum deposit of $10.
• Pro: A popular classic trading account suitable for both beginners and experienced traders. It offers a floating spread of 1.3 pips and leverage up to 1:2000.
• Prime: Designed for experienced traders, the Prime account offers premium trading conditions at the level of liquidity providers. It features a floating spread from 0 points and leverage up to 1:300.
• ECN: Tailored for scalping and professional trading, the ECN account provides the lowest possible spreads from 0 points, high execution speed, and leverage up to 1:500.
• R StocksTrader: Specifically for trading real stocks, CFDs on stocks, indices, ETFs, metals, and commodities (with over 12,000 assets). It boasts a spread of 0.01 USD, leverage up to 1:300, and a minimum deposit of $100.
• Affiliate: Intended for the broker’s partners and their clients, these accounts (Pro Affiliate, ECN Affiliate, and Cent Affiliate) offer increased spreads.

To facilitate testing, each account type has a corresponding free demo account: Demo Pro, Demo ECN, and Demo R Trader.

Platform CopyFX

The RoboForex platform offers a unique opportunity for copying trades in the Forex and CFD markets. Currently, not many brokers provide such a service. With CopyFX, you can choose from thousands of different trades offered by experienced traders. The minimum investment starts at just $100. This platform provides two main options: you can either copy the strategies of other traders or share your own experience by offering your trades for copying. By registering as a trader, you also have the chance to earn additional commissions.

One of the key advantages is the complete transparency of participants. You can analyze the performance of various traders, assess risks, and make informed decisions. Social trading on the RoboForex platform gives you full control over your account and deposits. Develop your financial capabilities, stay informed about the best traders, and effectively manage your portfolio with RoboForex.

Demo Account on RoboForex.com

Broker RoboForex offers the possibility of opening a demo account in MetaTrader 4 and MetaTrader 5 on roboforex.com. In addition, the client can explore the functionality of the R Trader terminal by pressing the “Continue as a guest” button. However, it should be noted that the platform will not allow any trading operations, even with virtual money, when using this option.

 

Mobile Aps

For individuals engaged in mobile trading, RoboForex presents convenient smartphone applications catering to all their trading needs across various terminals, including MT4, MT5, and R StocksTrader:

MetaTrader – Mobile users of MT4 and MT5 can seamlessly access the same advanced technical features as their desktop counterparts. This includes customizable charting tools, a comprehensive trading history, and the utilization of trading robots. The mobile platforms provide a unified member-client login area for a cohesive trading experience.

R StocksTrader – Formerly known as R Trader, the R StocksTrader app offers a comprehensive, all-in-one solution. It facilitates secure in-app account deposits and efficient bonus management. With 14 trading indicators, live charts, quotes, and additional mobile-friendly features, R StocksTrader ensures a fully-featured trading experience on the go.

RoboForex Mobile Trading – Available for both iPhone and Android (APK) users in 22 languages, RoboForex’s mobile trading platforms have garnered positive online reviews. Particularly, MT4 and MT5 mobile apps stand out, providing users with a user-friendly interface and a range of features for effective and flexible trading.

 

RoboForex.com Bonuses

A bonus program serves to attract new partners in any brokerage company. Participation gives a beginning trade the chance to increase their initial deposit. Most newbies immediately lose their starting capital without having enough time to acquire initial trading skills. Bonus offered by trader gives wider perspectives. Beginners have more chances to overcome the so-called psychological barrier that a vast majority of beginners have. The RoboForex project takes user demand into account and offers several types of bonuses to its clients.

Up To 10% of Extra Funds

Each client is eligible to receive an additional 10% of funds on their account balance, regardless of the base currency. The bonus terms apply to all account types, including ECN and CopyFX. The key feature of this offer is the flexibility to withdraw or use these funds in trading without any restrictions.

Welcome Bonus of 30 USD

A welcome bonus is available for new traders after completing the registration process and providing personal information. Bonus funds are accessible for both cent and standard accounts on MT4/MT5 with the U.S. dollar or euro as the base currency. To qualify for the bonus, a minimum deposit of $10 is required, and it can be made using China UnionPay, Maestro, MasterCard, or VISA bank cards. Deposits made with virtual cards issued by payment systems and prepaid cards are not considered.

Promotions and Contests

As promotions, the project offers unique services.

Cashback (Rebates)

Cashback depends on the trading turnover for the month on already closed orders. CFD trading operations are not taken into account. Cashback can be managed at your discretion. Rebates are available from 10 lots and more. Payments are made monthly from the 1st date.

Free VPS Server

Connect to a VPS server and gain 24/7 access to trading from anywhere in the world. The server is always connected to reliable high-speed internet and is independent of your internet service provider. This service is provided for free when the trading account volume is no less than 3 standard lots. In case this condition is not met, there is a monthly fee of 5 USD for using the service. The service is available to registered users with completed verification. The trading account must have a minimum of 300 US dollars, after which an application needs to be submitted in the “Your VPS Server 2.0” section of the personal account.

Affiliate Program

As part of the affiliate program, you can receive up to 85% of the average spread + 20% of the swap. The Infinity program also adds 10% of the total commission of your subpartners to your income.

CopyFX Partner Program

To be able to use this service, select the best trader from the CopyFX rating. Create an affiliate link and use it to attract investors and receive a commission. The partner’s earnings are transferred immediately after the trader receives a commission from the investor.

 

Deposit and Withdrawal

Depositing an account at RoboForex is possible via bank cards and electronic wallets. At the same time, the number of ways to withdraw money is a little less than the number of ways to deposit money. After registration in your personal cabinet, you can deposit money into the system in the following ways:

• Bank cards (Visa, Mastercard, JCB, CUP),
• Electronic Payment Systems (STICPAY, AstroPay, Skrill, Neteller, Perfect Money),
• Bank Transfer,
• QR & Vouchers.

Withdrawal methods: Skrill, NETELLER, Perfect Money, STICPAY, AstroPay, Visa, Mastercard, JCB, CUP.

 

Complaints About RoboForex

RoboForex has considerable work experience in many countries, which allows you to find a sufficient number of traders’ reviews online. Based on these reviews, we can draw certain conclusions about the company. As for RoboForex, the first reviews that appear in the list are negative. These reviews are rather lengthy and contain detailed information. If we analyze the overall mass of negative feedback, the complaints about “incorrect” quotes from RoboForex stand out. These complaints seem to cause the volatility corridor to widen in some cases, triggering stop orders for traders.

We, in our turn, do not intend to make any hasty conclusions based on this feedback, but would like to point out that the managers of the company, who respond to such feedback, refer in this case to their liquidity providers and the inability to compare quotes a priori. This answer may well be satisfactory for us, but we will examine this situation in more detail during the analysis of the client agreement. Additionally, there have been positive comments from traders regarding the broker, as they praise it for accurate order execution, fast fund withdrawals, a variety of platforms, and high-quality training materials, among other things.

It is worth noting that broker managers always try to respond to complaints and suggestions from traders online.

If there are any complaints about RoboForex, we’ll post them on social networks. Sign up to not miss anything!

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Regulation of RoboForex Ltd.

The presence of a regulator at any broker increases its reliability and causes more trust on the part of users. Since the activities of companies providing brokerage services on the market are subject to mandatory certification, they place information about registration and the availability of a license on their websites.

It is important to check it, especially for those traders who start in the market with large sums. Without accurate information about the reliable regulation of the broker, it would be extremely frivolous to hope for a withdrawal from your account. RoboForex Ltd. has been working on the market since 2009. The project itself has a brokerage license FSC (Belize Commission for International Financial Services) number 000138/437.

The Belize International Financial Services Commission oversees the work of the non-banking sector. Controlling brokers, the body informs them about changes in financial services and innovations. The credibility of FSC is high and is supported by an interesting fact: for violation of the rules of providing services the regulator annulled the licenses of 48 companies. It’s not by chance that many traders trust it, and consequently, the brokers it controls. RoboForex Ltd. is also an official member of the international organization The Financial Commission.

• Check RoboForex license on the FSC regulator website
• View The Financial Commission’s license.

Roboforex.com User Agreement

Continuing to study more closely the activities of RoboForex. Let’s move on to the study of its Client Agreement, as it is often the document that describes the possible negative aspects that a trader may encounter in the process of interaction with the company. It is worth noting that no broker hides possible trader’s pitfalls and describes them in its agreement one way or another. It cannot be interpreted as cheating or fraud, because the broker does disclose this information, even if it is negative for the client.

RoboForex is not an exception in this case. To begin with, let’s highlight the point that can confirm most of the negative feedback about the company described above. Paragraph 14.6.3 says that the company does not accept claims from clients if the reason for this is the difference in quotes with any other resources:

This point makes all the previously described claims of traders about RoboForex concerning quotes quite logical. It would seem that it’s completely normal, except for one “but”. On the main page roboforex.com as one of its main advantages, the broker says that all its clients receive insurance against a negative balance. This means that if the account goes into deficit, the company will not require the trader to return the amount of the negative balance. When trying to find out the details of this detail and clicking on the item with the insurance against a negative balance, the client gets to a page where it is explained in more detail that a negative balance is not a problem for the client, this zeroing procedure is performed by the broker automatically.

How to interpret this inconsistency? Unfortunately, the broker does not explain it in its Agreement. Another point that strongly contrasts with common notions about the brokerage account is point 3.5, which says that the company has the right to refuse the client to perform operations on his account if it is revealed that it is not used for the purpose, and as an example of this the currency conversion is described here. The question arises at once – if buying/selling currency on the exchange through the broker is a non-purpose use of the account, then for what purpose, according to the broker, the client opens an account with him, and will the company refuse to conduct operations after a series of exchange transactions, which brought profit to the client?

 

Is RoboForex a Scam?

Forex broker RoboForex is an experienced financial company. Delve deeper into why this phenomenon occurs and explore the implications for prospective clients of the broker. Starting with the roboforex.com homepage which showcases numerous awards garnered by the company from events across the EU. However, it’s puzzling that a broker lacking European regulation participation wins such accolades. A prime illustration is RoboForex’s claim of winning the “Safest Broker” title at the 2018 London Investor Show, despite lacking EU licensing.

But looking at the official website of the event organizer, a trader cannot find information about RoboForex here. The company has another disadvantage: the registration procedure is complicated (even in demo trading).

 

Conclusion

RoboForex is a well-established forex brokerage that offers clients access to a variety of assets, training resources, analytical tools, and professional trading platforms. Despite its extensive range of offerings, a closer examination of its activities and terms of service reveals some areas for improvement.