RoboForex
Overall Rating:★ ★ ★ ★ ★ (4.7 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing and Regulation★ ★ ★ ★ ★ (5/5)
Mobile Trading★ ★ ★ ★ ★ (5/5)
Brand & Functionality★ ★ ★ ★ (4/5)
Registration Process★ ★ ★ ★ ★ (5/5)
Depositing Process★ ★ ★ ★ ★ (5/5)
Product Offering★ ★ ★ ★ ★ (5/5)
Trade Execution★ ★ ★ ★ (4/5)
Banking★ ★ ★ ★ (4/5)
Customer Support★ ★ ★ ★ ★ (5/5)
Trading Tools★ ★ ★ ★ ★ (5/5)

Broker Information

User Rating
RoboForex
4.7 (93.33%) 3 vote[s]
Leverage
Instruments
Platforms
Account Types
Account Currency
Commissions
Founded
Customer Support
Min Funding

    Introduction

    ★ ★ ★ ★ ★

    RoboForex is a regulated and licensed broker that has been providing its offerings and services since 2009. The company’s headquarters is based in Cyprus and serves over 800,000 clients that are located in more than 170 different countries. With 18 support languages, the primary focus for RoboForex is to provide an exceptional online trading experience through innovative technology solutions and several modern trading tools. The offerings and developments by RoboForex is backed by more than 20 different awards along with sponsorship deals with some of the best sports athletes and teams from around the world. RoboForex is the official sponsor for the Starikovich-Heskes team in Dakar 2017 as well as the official sponsor for Andrei Kulebin who is a world-renowned Muay Thai fighter.

    The wide range of trading markets available at RoboForex includes six cryptocurrencies, metals, energies, soft commodities, ETF’s, indices, stocks, and forex with a leverage of up to 1:10. The cost of trading are essentially based on institutional spreads starting from 0 points and comes with a leverage of up to 1:1,000 on currencies. Other benefits that traders can look forward to including tight spreads starting at 0 pips, affiliate programs offering 50% profit sharing, micro accounts and six account currencies with minimum lot size, and ultra-fast execution with eight different asset classes. In addition, the company performs ContestFX where traders can win prizes either weekly or monthly on demo accounts.

    Licensing and Regulation

    ★ ★ ★ ★ ★

    The RoboForex Group essentially has two companies under its brand, including RoboMarkets Limited and RoboForex Limited. RoboMarkets Limited is a European broker that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), while RoboForex Limited is considered an international forex broker that is regulated and licenced by the International Financial Services Commission (IFSC).

    In addition, the company is a registered legal investment firm in 30 different European countries and also received a special IFSC Belize brokerage license. The financial trading company also implements negative balance protection where all client funds are kept safe in segregated accounts by using Tier-1 banks. RoboForex is also a member of the Commission’s Compensation Fund, providing insurance coverage for each and every client.

    Mobile Trading

    ★ ★ ★ ★ ★

    RoboForex not also boasts with an exceptional desktop version of their site, but also allows traders the convenience of trading on the move thanks to developing incredible mobile apps that can be downloaded on mobile and tablet devices. Traders that are interested in the mobile app from RoboForex simply need to visit the “Download Center” section of the site and choose between the MT4 or MT5 trading platforms that can be downloaded on Android or iOS devices. Alternatively, users simply need to visit the Apple App Store or the Google Play Store to download the mobile apps for iOS and Android devices, respectively. Some of the most notable features on the mobile apps include one-click trading, algorithmic trading, fundamental analysis, and plenty of innovative trading tools.

    Brand & Functionality

    ★ ★ ★ ★

    RoboForex has been providing its services for over a decade and continue to offer the best functionality and products within the online trading industry. This is especially true when you take a look at their awards cabinet, boasting with several prestigious awards since its inception. The company received the Best Crypto Broker Award in 2018, the Safest Broker Award in 2018, the Best ECN Broker Award in 2016, the Fastest Growing Forex Brand in Asia Award in 2014, the Best Standard Forex Broker Award in 2014, the Best ECN Broker Award in 2013, the Best Forex News and Analysis Provider Award in 2013, the Best Retail Forex Brand in Russia Award in 2013, the Best Retail Forex Broker Award in 2013, the Best Execution Broker in Eastern Europe Award in 2013, the Fastest Growing ECN Broker in Eastern Europe Award in 2012, the Best Forex Broker for Automated Trading Award in 2012, and the Best Broker for Forex Robots and Advisors Award in 2012.

    Registration Process

    ★ ★ ★ ★ ★

    Traders can register a new account on the official RoboForex site or through the mobile apps once its downloaded from the Google Play Store or Apple’s App Store. On the site, traders simply need to look for the bright green “Open an Account” tab to start the registration process. This will take traders to a new page that will only ask for basic personal information, including email address, first name, last name, and mobile phone number.

    Once the basic information is provided, you will be taken to the members area where you will need to select your trading account, trading platform, account type, currency, and leverage. RoboForex offers five trading accounts, including Real, Demo, Partner, CopyFX, and Contest. You will also find four trading platforms, including cTrader, MT4, MT5, and R Trader. There are six different account types, including MT4 Pro-Cent, MT4 Pro-Standard, MT4 ECN-Pro NDD, MT4 Pro Affiliate, MT4 ECN-Pro Affiliate, and MT4 Prime. RoboForex supports six different currencies, including USD, EUR, GOLD, CNY, BTC, and ETH, while offering several leverage options, ranging from 1:1 through to 1:2000.

    Once all of the above information is provided, you will need to verify your email address to continue to the next step. Once completed, you will need to provide two documents to confirm your date of birth and your home address. You can do this by providing a copy of your ID and a copy of your most recent Utility Bill. Once the documents are uploaded and verified, you can go ahead and fund your account.

    Depositing Process

    ★ ★ ★ ★ ★

    Once your account is registered, and your documents have been uploaded, you can deposit funds through multiple deposit methods. This includes Bank Transfer, Skrill, Neteller, Webmoney, ePayments, Bitcoin, Ethereum, Visa, Mastercard, and through a RoboForex Wallet. Once you selected your preferred deposit method, you will also be able to choose between a Simple deposit, a Bonus deposit, or a Profit Share Bonus deposit. Thereafter, you can enter the amount you wish to deposit, along with the currency of your choice, and your funds will reflect instantly in your account.

    Product Offering

    ★ ★ ★ ★ ★

    RoboForex provides three primary trading accounts, including ECN, Cents, and Standard. Standard accounts offer two different formats, including Pro-Standard and Fix-Standard. The primary difference between the two Standard accounts is that traders can enjoy fixed spreads on the Fix-Standard account, while floating spreads can be enjoyed on the Pro-Standard account.

    Traders will also find two formats when it comes to Cents accounts namely, Pro-Cent and Fix-Cent. They come equipped with the same Standard account benefits but with a lower margin requirement. Traders will also need to choose between two ECN accounts, such as ECN-Fix Spread NDD and ECN-Pro NDD. The ECN-Pro account comes with floating spreads and commission, while the ECN-Fix Spread account is commission free and offers fixed spreads.

    Trade Execution

    ★ ★ ★ ★

    The client terminal at RoboForex will allow traders to send and create orders to execute their trading transactions in lightning fast speeds. The terminal is also capable of controlling and managing open positions. The client terminal also boasts with several trading order types, including Market order, Pending order, Stop Loss, and Take Profit. All order executions are processed within milliseconds, ensuring all requests from traders are dealt with in the fastest way possible.

    Banking

    ★ ★ ★ ★

    The banking section at RoboForex is smooth, reliable, trustworthy, and truly comprehensive when you look at the phenomenal line-up of payment methods for both deposits and withdrawals. All financial information and personal information provided on the site are secured with the most advanced encryption technology the industry has to offer and has no additional charges when transacting on your account.

    Customer Support

    ★ ★ ★ ★ ★

    RoboForex provides several innovative ways for traders to get in touch with them and offer support in 18 different languages to cater to traders from around the world. You can fire off a quick email that will be responded to within 24 hours, give the customer support desk a call or request for them to call you back, or you can you the live chat facility on both desktop and mobile devices. The site also impresses with a truly exceptional FAQ section where you will find the most common questions along with a detailed answer for each of them. The site also has videos and guides to assist you in opening an account, how to start trading, and access to the Forex community forum.

    Trading Tools

    ★ ★ ★ ★ ★

    RoboForex utilises three different trading platforms, including cTrader, MetaTrader 4, and MetaTrader 5. The site also supports lesser-known trading platforms, such as MultiTerminal, RoboForex WebTrader, Currenex Viking Trader, and mobile trading apps for iOS and Android.

    Both the MT4 and MT5 trading platforms function on both mobile and desktop and provide a user-friendly interface that comes equipped with signal copying, one-click trading, powerful charting, automated trading strategies, custom indicators, and more. The cTrader is essentially an ECN platform that comes equipped with a significant number of liquidity providers that can be utilised on mobile, desktop, or through a web-browser. The trading platform is easy to use, lightning fast and offers pricing transparency along with tight spreads.