RoboForex Ltd is an international forex broker operating out of Belize with millions of clients from many countries. The company offers over 12,000 financial instruments grouped under 8 asset types with an extensive range of trading platforms. Its key features include a range of accounts designed for different trading levels and commission-free trading on pro accounts.

This RoboForex review will explain all you need to know about the broker.

Supported Countries

RoboForex (also RoboFX) accepts traders worldwide, including:

Argentina

Brazil

Colombia

Hong Kong

Kazakhstan

Mexico

Nigeria

Thailand, Ukraine

United Arab Emirates

Vietnam

The broker also offers support in fifteen languages so clients from the supported countries can communicate clearly with the support team.

However, their services are restricted in the United States due to the country’s restrictions. Therefore, there is no RoboForex USA permissions or community. The broker is also restricted in some countries, including South Africa, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan.

Note: You should confirm that RoboForex’s services are available for traders in your country of residence. If they accept clients from your home country, you can check out their services even if they lack regulation in your home country, provided they are regulated in an alternate jurisdiction that is deemed acceptable.

Customer Service Rating

RoboFX has a 2.7 rating based on 315 reviews on Trustpilot. The bulk of the negative Robo Forex reviews come from many years back, while most of the positive reviews are in recent years. This trend from negative to positive reviews would suggest that Robo Forex has improved its customer service over the years.

Customers particularly praise the broker’s quality of services, stable execution, and fast funding/withdrawing. They allow clients to trade various assets, including Gold, Indices and Stocks.

TRADING INFORMATION

RoboFX offers many robust features to ensure traders have everything they need for a smooth trading experience. For instance, they allow automated (algorithmic) trading strategies via their R StocksTrader platform. They also allow hedging so traders can insure against potential loss. However, they do not have mandatory stop-loss and take-profit requirements. More details are discussed in the following sections.

ROBOFOREX TRADING PLATFORMS

RoboFX supports multiple trading platforms. Each platform can be installed on an iOS or Android device or computer.

– MetaTrader 4

RoboForex is one of many MT4 brokers. RoboForex MT4 is available for Android devices, PC (windows) downloads, and web browser applications. The MT4 RoboForex MultiTerminal is also available as a PC Windows download.

– MetaTrader 5

The MetaTrader 5 software is the advanced version of the MetaTrader 4 and offers advanced trading tools. It is available for Android and Windows PC and as a web browser application.

– R WebTrader

This is a proprietary web trading platform designed by RoboFX for trading on MT4 accounts. It offers fast switching between accounts, analytics tools, and market news. It is also available on iOS and Android as the R MobileTrader.

Trading Denominations on RoboFX

There are different trading base currencies available to traders using the Robo Forex platform. These currencies include:

AUD

CAD

CHF

CNH

EUR

GBP

JPY

MXN

NZD

PLN

PLN

USD

ZAR

Deposits and Withdrawal Channels and Requirements

Robo Forex allows traders to fund their accounts without additional costs. They also offer commission-free withdrawal on “Free Funds Withdrawal” promotion days. The account funding options include bank payments, electronic payments, bank cards, and QR & Vouchers. Here are more details:

Bank payments

You can fund your account using bank transfer (SEPA) or local bank transfer (only available for specific countries). SEPA takes up to three days to process deposits and withdrawals.

The minimum amount for deposits and withdrawals is 500 EUR. You can deposit up to 100,000 EUR but only withdraw 49.990 EUR at the time. There is also a 1.5% withdrawal fee on non-promotion days. Local bank transfers support up to 15,000 USD or equivalent for deposits and 20,000 USD or equivalent for withdrawals. Deposits and withdrawals take one day to process, and there is an up to 4% withdrawal fee.

Electronic payments

Electronic payment options include AstroPay, Skrill, Neteller, Perfect Money, and AdvCash. The RoboForex minimum deposit amount is $5 (Perfect Money), and the maximum is Neteller (50,000 USD). You can withdraw as little as 0.1 USD via AdvCash and Perfect Money. Withdrawal fees range from 0.5% to 1.9%. Allow up to 1 day for deposits and withdrawal processing.

Bank cards

Traders can fund them using VISA, MasterCard, China UnionPay (CUP), or Japan Credit Bureau (JCB) cards. The minimum deposit is $10, and withdrawals range from $10 to $10,000. Deposits and withdrawals take up to one day to process, and withdrawal fees go up to 2.6% + 1.3 USD.

QR & Vouchers

Depending on your country, you can fund your account using Western Union, QR, or Vouchers. The minimum deposit is $10, while the maximum is $500.

Deposits

Here is an overview of the deposit process on Roboforex.

Withdrawals

Here is an overview of the withdrawal process on Roboforex.

ROBOFX TRADING EDUCATION AND TRAINING

RoboForex offers a comprehensive range of educational resources for traders. The broker provides informative video tutorials and written guides covering the financial market’s fundamentals. Additionally, the broker’s analytical tools encompass RoboForex analysis and forecasts, an economic calendar, and a data center to assist traders in making informed decisions. You can also find out how to use and download RoboForex MT4 in their resources.

In addition to these features, RoboForex maintains a blog where their in-house experts share their insights on current events and trading strategies. This blog is a valuable resource for traders, providing further guidance and knowledge to enhance their trading skills.

COMPANY STRUCTURE

Robo Forex is a member of the RoboForex Group, which also operates RoboMarkets. The broker is domiciled in Belize, while the parent company (RoboForex Group) has its headquarters in the European Union.

Roboforex began operations in 2009 as a New Zealand-based company, then moved to Belize in 2014. From its inception, the broker has focused on providing the best trading experience to beginners and experienced traders alike. The broker is currently ranked as the leading broker in the world.

Robo Forex License and Regulatory Compliance

RoboForex, unlike many popular international brokers, comply with only one regulatory body. While other RoboForex reviews suggest that CySEC regulates the broker, only one regulator is named on the broker’s website. Here is what we know about RoboForex’s singular regulator:

FSC

RoboForex has a special brokerage license from the Financial Services Commission (FSC) in Belize, where it is headquartered. The FSC license number is 000138/333, allowing them to trade financial and commodity-based derivative instruments and other securities.

Customer Support

All clients get 24/7 RoboFX customer support via email, live chat, and phone. The support is available in over fifteen languages, including Spanish, Arabic, German, Japanese, Portuguese, Chinese, Russian, Malay Thai, Asian, Polish, and English. There is also an FAQ section that answers most beginner questions.

Aside from its physical office address at 2118 Guava Street, Belama Phase 1, Belize City, Belize, traders can access the broker’s website www.roboforex.com, email at [email protected], or call the company’s phone no – +593 964 256 286. A swift and responsive customer support representative is also available via live chat on the broker’s website.

ROBO FOREX CUSTOMER PROTECTION

As expected of one of the world’s most popular brokers, Roboforex has gone the extra mile to protect its clients’ investments and funds. The broker’s safety measures include:

– AML

RoboForex complies with the international AML (Anti-money laundering) policy as regulated by the Financial Services Commission

– Compensation Fund

The compensation fund offers up to €20,000 per case for traders when a participant doesn’t comply with a judgment in favor of the trader from the Financial Services Commission. The fund is funded by monthly fees paid by participants of the FSC.

– Civil Liability insurance program

The broker also provides insurance protection for a limit of 2,500,000 EUR for events that may lead to clients’ financial losses.

– VMT

RoboFX has a Verify My Trade (VMT) certificate that confirms its compliance with the strict requirements of the Financial Services Commission. Brokers with the VMT certificate must regularly submit their trading records to prove their compliance with the requirements of the Financial Commission.

– VPS

The RoboForex VPS is available to traders with a minimum of $300 in their trading accounts. This Virtual Private Server (VPS) is free for traders with an account of a minimum of 3 standard slots, while others will be charged $5 to access it. The server offers an uninterrupted internet connection allowing traders access to expert advisors 24/7, anywhere, with or without a PC. This is a game changer for trader security.

HOW TO OPEN A ROBO FOREX ACCOUNT

If you’re looking to trade via RoboForex, the process is straightforward. RoboForex is a highly recommended broker. The platform is user-friendly, and with the following simple steps, anyone can open a RoboForex account.

Step 1: Visit RoboForex.com.

Step 2: Click “Open Account.”

Step 3: Enter your personal info.

Step 4: Click “Register.”

Step 5: Check your email and confirm the confirmation link they sent you.

Step 6: Deposit funds and trade RoboForex!

Note that you can use your preferred trading platform, be it MT4 Roboforex, MT5, or the desktop/mobile app.

ROBOFX REVIEW RECAP

RoboFx has proven beyond its IFSC Belize license and Average-Risk rating score that it is a reliable and user-friendly broker. RoboForex prioritizes its clients’ security and offers commission-free trading with conducive withdrawal fees. The broker is also unique for its CopyFx Investment Program which allows clients to copy experienced traders. Its VPS hosting, netting, and hedging system are other unique offerings.

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