RoboForex Review 2023: Fees, Platforms, Apps, Safety, Pros & Cons

If you are looking to trade forex, stocks and other securities with high leverage and relative safety, RoboForex is a broker worth trying out. In this piece, we will review its regulation, leverage, spread, deposit & withdrawal options, fees, verification processes, financial instruments for investment, and how to open an account at RoboForex.

Regulated By

Regulated By

FSC

Used By

Used By

1,000,000+ Clients

Established in

Established in

2009

roboforex logo Visit Broker

58.42% of CFD accounts lose money.

Spreads From

EURUSD 0.0 pips

What Can You Trade on RoboForex

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Trading Platforms

DesktopMobileMT4MT5cTrader

Funding Methods

Wire TransferVisaMaster CardNetellerPerfect Money

RoboForex Review 2023: Fees, Platforms, Apps, Safety, Pros & Cons

If you are looking to trade forex, stocks and other securities with high leverage and relative safety, RoboForex is a broker worth trying out. In this piece, we will review its regulation, leverage, spread, deposit & withdrawal options, fees, verification processes, financial instruments for investment, and how to open an account at RoboForex.

  • author Fejiro Eforhare
  • Last updated 11/08/2023

58.42% of CFD accounts lose money.

Regulated By

Regulated By

FSC

Used By

Used By

1,000,000+ Clients

Established in

Established in

2009

Spreads From

EURUSD 89 Points

Trading Platforms

DesktopMobileMT4MT5cTrader

What Can You Trade on RoboForex

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardNetellerPerfect Money

Summary

RoboForex Review

RoboForex has grown to become one of the world’s leading CFD brokerage firms since it received its first license to operate in 2009. For 13 years and counting, RoboForex has offered traders some of the best brokerage services for different asset classes, gathering over 800,000 clients from over 160 countries worldwide. RoboForex operates in most countries, except the USA, Canada, Indonesia, Iran, Russia, South Sudan, and other restricted countries.

RoboForex offers 12,000+ trading instruments categorized in 8 asset types: 40+ forex pairs, 8,400+ stock CFDs, 3000+ real stocks, 4+ indices, 30+ crypto CFDs, 1000+ ETFs, and 7+ commodities. In addition to CFD trading, traders can also purchase real stocks with RoboForex. 

RoboForex is regulated mainly by the International Financial Services Commission (FSC) in Belize and is a participant of The Financial Commission, an international organization that helps resolve disputes between its members and their clients. It also has a license from CySEC, Cyprus Securities and Exchange Commission. 

Online reviews of RoboForex show that it is one of the best brokers for beginners. It has great educational resources and stellar customer support. RoboForex offers 6 trading platforms (including MetaTrader 4 & 5 and cTrader) and has some of the tightest spreads and lowest trading fees for brokers in its class. It also has a good verification process that requires you to prove your identity when you open an account, for the safety of traders’ funds and personal information.  

In this review, we will put RoboForex under the microscope and present all the strengths and drawbacks of this international forex broker. We will also guide you on how to open an account and different things you can do to get the best out of RoboForex.

Pros

  • Wide Range of Available Instruments 
  • Multiple Trading Platforms 
  • Good Customer Service
  • Offers Demo Account for Beginners
  • Allows Social and Copy Trading
  • Instant Withdrawals
  • Provides Negative Balance Protection

Cons

  • Only regulated by one regulatory body
  • Doesn’t allow Clients from US, Canada and Japan

Regulations

Regulation is an important requirement of every broker, as it ensures a level of safety of investors’ funds and personal information. RoboForex is regulated by one of the most trustworthy regulatory bodies in the world, making it trustworthy for all kinds of security trading. 

RoboForex Ltd.: Regulated by the Financial Services Commission (FSC), the broker is located at 2118 Guava Street, Belama Phase 1, Belize City, Belize. 

  • Registration Number – 128.572
  • License Number – 000138/333.

Supported Countries

The broker is headquartered in Belize in Central America and has a license to operate within Belize and in many other countries worldwide. It is supported in about 169 countries, including South Africa, New Zealand, and many countries in Asia. It is not supported in the United States, Canada, Japan, Australia, South Sudan, Iran, and some other countries.

Available Assets at RoboForex

RoboForex offers 12,000+ financial instruments in 8 asset classes. The asset classes are:

Cryptocurrencies at RoboForex

Cryptocurrencies are decentralized digital currencies that are highly volatile in nature. If you have what it takes to trade in this highly volatile market, you can trade any of the 30+ cryptocurrencies offered by RoboForex with low spreads. 

Cryptocurrencies Available at RoboForex

Stocks at RoboForex

Stocks or shares are financial contracts that allow their owners a percentage of ownership of a company or government entity. Stock prices go up and down, depending on different factors, and investors can bet on the direction of these prices with stock CFDs. RoboForex offers 8,400+ stock CFDs and 3000+ real stocks to traders who wish to speculate on the stock market direction or own a piece of companies like Tesla, Amazon, Siemens, Barclays, etc.

Stocks at RoboForex

Commodities

Commodities are financial contracts used to represent physical goods. On RoboForex, commodities are divided into three groups: soft commodities (like soybean, cocoa), energies (crude oil, brent oil), and metals (silver, gold). The maximum leverage on commodities on RoboForex depends on the group of commodities. Leverage is up to 1:20 for soft commodities and 1:100 for energies.  

Indices

Indices are financial instruments that measure the performance of a group of shares in a particular exchange. RoboForex offers 5+ indices, including the US500Cash, US30Cash, and DE40Cash. On RoboForex, traders can trade indices with tight spreads and low commissions.

Commodities

Forex

Forex trading is the process of exchanging currencies in the international foreign exchange market. The forex market is the world’s largest financial market, worth over $6 trillion in daily transactions. RoboForex offers traders access to the forex market with tight spreads (starting from 0 pips) and high leverages (up to 1:2000). There are 40+ currency pairs to trade with an extremely high execution speed.

Forex

ETFs

ETFs are baskets of financial instruments like stocks and bonds that are traded as one entity. ETFs are mainly traded on major exchanges like the New York Stock Exchange (NYSE) and NASDAQ. RoboForex offers ETF trading with low spreads (starting from 0 pips) and high leverages (up to 1:20). 

ETFs

Spread

Spread is the difference between the bid and ask price of a financial instrument. On RoboForex, the spreads for different forex pairs and commodities differ depending on the asset and account type. The minimum spread available is from 0 pips.

Leverage

Leverage is a form of trading that involves the borrowing of funds from your broker to open large positions with a small amount of collateral. This collateral is called margin and is the minimum amount you can use to trade with leverage. It is often expressed as a ratio. For example, a 1:100 leverage means you need to deposit one-hundredth (or 1%) of the total trading amount.

The maximum leverage offered by RoboForex depends on the asset and account type:

  • For forex, the maximum leverage is up to 1:2000.
  • For stocks, the maximum leverage is up to 1:20.
  • For indices, the maximum leverage is up to 1:100.
  • For ETFs, the maximum leverage is up to 1:20.
  • For commodities, the maximum leverage depends on the type of commodity. Soft commodities like soybean and beef have a maximum leverage up to 1:20, energies like natural gas and oil have a maximum leverage up to 1:100, and metals like gold and silver have a maximum leverage up to 1:1000.
  • Cryptocurrencies have maximum leverage up to 1:50.

Here’s a table showing forex pairs & commodities and their minimum spreads on an ECN account and maximum leverages.

Instruments

ECN Account Spread (From)

Leverage (Up to)

FOREX 

Major Forex Pairs 

AUD/USD  0.0 pips1:2000
USD/JPY  0.0 pips1:2000
GBP/USD0.0 pips1:2000
EUR/GBP0.0 pips1:2000
EUR/USD 0.0 pips1:2000
USD/CAD 0.0 pips1:2000
NZD/USD0.0 pips1:2000

Minor Forex Pairs

AUD/JPY0.0 pips1:2000
AUD/CAD0.0  pips1:2000
AUD/NZD0.0 pips1:2000
AUD/CHF0.0 pips1:2000
EUR/NZD0.0 pips1:2000
EUR/JPY0.0 pips1:2000
EUR/CHF0.0 pips1:2000
EUR/AUD0.0 pips1:2000
GBP/JPY0.0 pips1:2000
GBP/AUD0.0 pips1:2000
GBP/CHF0.0 pips1:2000
GBP/CAD0.0 pips1:2000
GBP/NZD0.0 pips1:2000
CHF/JPY0.0 pips1:2000
CAD/JPY0.0 pips1:2000
CAD/CHF0.0 pips1:2000
NZD/CAD0.0 pips1:2000
NZD/JPY0.0 pips1:2000
NZD/CHF0.0 pips1:2000

Exotic Forex Pairs

USD/ZAR0.0 pips1:2000
USD/CNH0.0 pips1:2000
EUR/PLN0.0 pips1:2000
USD/PLN0.0 pips1:2000
USD/MXN0.0 pips1:2000
Commodities
Gold0.0 pips1:2000
Silver0.0 pips1:2000
Brent0.0 pips1:100
WTI0.0 pips1:100
Corn0.0 pips1:20
Sugar0.0 pips1:20
Soybean0.0 pips1:20
Wheat0.0 pips1:20

RoboForex Fees and Commissions

RoboForex Fees and Commissions

RoboForex charges both fees and commissions depending on the asset type. Also, traders will be required to pay some non-trading fees for taking certain actions.

Trading Fees

Spreads

The most common fee you will pay on RoboForex is spread. The minimum spread across major and minor currency pairs is 0.0 pips on an ECN account. 

Commissions

RoboForex collects low commissions, making it one of the best forex brokers in this regard. On the ECN account, there is a $2 commission. The commission is even better on the Prime account, where the commission is 50% lower, i.e. $1. For equity traders, the broker receives a $200 commission for every $1,000,000 in volume in the ECN account, and $150 on the Prime account.

Rollover Rate/Swap Fees

RoboForex charges rollover fees depending on the asset class and currency pairs. You can get more information on the various rollover fees for different currency pairs on their website.

Non-Trading Fees

The broker does not charge fees on any deposit you make, but it charges withdrawal fees. It doesn’t charge any inactivity fee on your account as well. 

Withdrawal Fees

RoboForex charges a small percentage for withdrawals through a few methods, like China UnionPay (1.8%), Local bank transfer (up to 4%), etc. Roboforex also offers a free funds withdrawal program twice a month (on the first and third Tuesday of every calendar month). On these days, traders can withdraw completely free using any payment method only once a day.

Inactivity Fees

RoboForex is one of the few brokers that do not charge inactivity fees. Also, your account is not written off if you don’t use it for some time, since there is no expiry date for accounts. 

Trading Platforms at RoboForex

Trading Platforms at RoboForex

RoboForex offers up to 6 different trading platforms for traders on mobile and desktop devices. They are: MetaTrader 4, MetaTrader 4 MultiTerminal, MetaTrader 5, cTrader, StocksTrader and WebTrader

Desktop Platforms

All 6 trading platforms are available on the desktop version of RoboForex. They are MetaTrader 4, MetaTrader 4 MultiTerminal, MetaTrader 5, cTrader, StocksTrader and WebTrader. Let’s look at some of the features of WebTrader, the proprietary trading platform of RoboForex.

Desktop Platforms

User Interface

The web trader platform has an easy-to-use interface for beginners and professional traders to customize different features to their tastes.

User Interface

Charting Options

The WebTrader platform in the desktop version has candlesticks, line and bar charts, as well as drawing tools and technical indicators for easy reading and understanding of market patterns. Traders can easily adjust the charts to show any time frame they want.

Charting Options

Order Types

Order types like limit entry, market, stop entry and stop loss are all available on RoboForex WebTrader. 

Order Types

How to Open an Account and Trade on RoboForex Desktop Trading Platform?

Before you can trade on the RoboForex desktop trading platform, you need to open an account and provide some key information. Here are the steps to follow: 

  1. Visit the RoboForex official website and click on “Open an Account”. Open an Account and Trade on RoboForex Trading Platform
  2. You’ll be directed to a different page where you’ll be asked for your personal details like your First name, last name, and email address. You’ll also be asked to confirm that you are 18 years and above. Open an Account and Trade on RoboForex Trading Platform
  3. After filling in your personal details, RoboForex will send you a confirmation email to your email address. Go to your email address and click on the confirmation link. Open an Account and Trade on RoboForex Trading Platform
  4. RoboForex will send you another email confirming your access to the Members’ Area of the broker. They will also give you your username (your email) and a password to use. Open an Account and Trade on RoboForex Trading Platform
  5. The email confirmation link will direct you to the RoboForex personal information verification area where you will be required to pass an ID/Passport verification and an address verification. The ID/Passport verification requires you to fill in personal information in detail and scan your international passport. Citizens of India can use their Aadhaar Card, driving license, PAN (permanent account number) card, and voting card. The address verification requires you to present a document containing your stated address, not issued earlier than 6 months ago. Open an Account and Trade on RoboForex Trading PlatformOpen an Account and Trade on RoboForex Trading PlatformOpen an Account and Trade on RoboForex Trading Platform
  6. After confirmation, you will be required to deposit funds into your trading account. Click on “Quick Deposit” to deposit funds. Choose the deposit method you wish to use and transfer money into your account. Open an Account and Trade on RoboForex Trading Platform
  7. You can now go to the trading terminal, choose your trading instrument and start trading!

Mobile Trading App

RoboForex has a mobile trading app called MobileTrader which facilitates trading with smartphones and other mobile devices. You can download this version on Google PlayStore or Apple Store, depending on your smartphone. The app contains many great features:

Mobile Trading App

User-Friendly Interface

RoboForex makes it easy for first-time users of the app to go through it without stress. You can see major and minor forex pairs, metals, indices and the options for trading them and other trading instruments without having to go through a long process to find them.

RoboForex Mobile app Interface

Copy Trading

The mobile trading app provides access to copy trading for traders who wish to follow the strategies of experts. 

Copy Trading At RoboForex

Charting

MobileTrader has many easy-to-read charts to help with trading analysis.

CHarting at RoboForex

Indicators

RoboForex provides access to indicators like moving average, exponential moving average and tick volume on the mobile application to help traders with their trading analysis. 

RoboForex has special applications on mobile devices for market analytics and real stock trading. They are known as “RoboForex Analytics” and “RoboMarkets Stocks Trader” respectively on app stores.

Indicators at RoboForex

How to Open An Account and Trade CFDs With RoboForex MobileTrader App?

  1. Visit the Google PlayStore or Apple Store (for Android and iOS devices respectively) and download the mobile version of the RoboForex app on your smartphone. Open An Account and Trade CFDs With RoboForex MobileTrader App
  2. Open the application and click on “Registration” in the top right-hand corner of the app. You will be directed to a page where you’ll be required to fill in your first and last name and email address.    Registration at RoboForexMobile Trader at Roboforex
  3. RoboForex will send you a verification email. Go to your email address and click on the link you see to confirm. RoboForex will also send you an email with your login details, i.e., the username is your email address) and password. Check your spam folder if you can’t find either of the emails. Mobile Trader at Roboforex Mobile Trader at Roboforex
  4. You will be required to complete an ID and Address verification before you can fully use the account to trade. Just like in the desktop platform, the ID verification requires you to provide an international passport or any other government-issued ID, while the address verification requires you to provide a document confirming your address and issues not earlier than 6 months ago. Fill in the required information and upload the documents after snapping them with your phone camera. Wait for the verification to be completed. Mobile Trader at Roboforex Mobile Trader at Roboforex Mobile Trader at Roboforex    
  5. Now you can log in on your mobile app and deposit money to start trading with. Choose your financial instrument and start trading. Mobile Trader Log in at Roboforex         

RoboForex Account Types

There are different account types on Roboforex, depending on your need and level of experience as a forex trader. These are some account types and the features contained within them:

Demo Account

A demo account is a virtual account used by beginner traders to learn the ropes of investing without risk. Demo accounts come with virtual funds you can use to invest. Roboforex has demo accounts for every account type they have. You can open a Demo Pro account, a Demo ECN account, or a Demo R Stocks Trader account, and receive the benefits of those account types in your demo account. The initial deposit/account balance of the demo account is flexible, i.e. you can adjust the amount you want in the account. 

Pro Account

The Pro account is RoboForex’s most popular account with beginners. Traders can trade forex, metals, CFDs on US stocks, CFDs on indices, CFDs on oil and cryptocurrencies. The minimum deposit on this account is 10 USD / 10 EUR (for traders in Europe) and the spread starts from 1.3 pips. Leverage is up to 1:2000

You can trade on this account using the desktop and mobile trading platforms.

ProCent Account

The ProCent account is the best account for algorithmic trading (or algo trading). Algo trading is the process of using computer codes to enter and exit a trade based on preset conditions and requirements. This account type allows for trading of 36 forex pairs, metals and cryptocurrencies. The minimum deposit on this account is 10 USD / 10 EUR (for traders in Europe) and the spread starts from 1.3 pips. The leverage on this account is up to 1:2000.

Prime Account

The Prime account provides traders with the best conditions available. It has a leverage up to 1:300 and allows the trading of 28 forex pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil and Cryptocurrencies. The minimum deposit on this account is 10 USD / 10 EUR (for traders in Europe) and the spread starts from 0 pips.

R StocksTrader Account

This account allows for real stock trading (not just CFD on stocks). You can trade up to 12,000 real stocks, as well as CFDs on Brazil stocks with this account. Apart from stocks, you can also trade indices, forex, ETFs, CFDs on Metals, CFDs on Oil, and Cryptocurrencies.

The minimum required deposit is 100 USD and the spread starts from 0.01 USD. It has up to 1:300 leverage.

ECN Account

Professional traders prefer ECN accounts with direct interbank market rates and quick speeds of execution. It allows for the trading of 36 forex pairs, CFDs on US Stocks, CFDs on indices, CFDs on Oil, and Cryptocurrencies. The minimum required deposit is 10 USD / 10 EUR, with a spread that starts from 0 pips. It has a leverage of up to 1:500.

Islamic (Swap-Free) Account

RoboForex also offers interest-free Islamic trading accounts for Muslims who wish to trade according to the rules laid down in the Quran. Instead of interest, traders with Islamic accounts pay a fixed forex commission, which is dependent only on the type of currency pair and the number of open lots. To open an Islamic account on RoboForex, go to the website and apply for a swap-free trading account for MetaTrader 4 platform. 

Payment Methods at RoboForex

Payment Methods at RoboForex

RoboForex has a wide range of payment methods that allow traders to deposit funds into their accounts. The payment methods available are: Bank Payments, Digital Wallets, Bank Cards, and Cash and Vouchers.

Deposit Methods

There are zero deposit fees when using any of the payment methods for your RoboForex account. Deposit may take 1 to 3 days to confirm, depending on the payment method used. The minimum deposit on RoboForex is 10 USD/10 EUR for all accounts except for the R StocksTrader account where the minimum deposit is 100 USD/ 100 EUR. 

Deposit Method

Processing Time

Minimum Deposit

Maximum Deposit

Fee

Credit Cards and Debit CardsUp to 1 day$10None0%
Bank PaymentUp to 3 days (1 day for some banks)$10 (€500 for SEPA)$10,000 (€100,000 for SEPA)0%
Digital WalletUp to 1 day$10 ($5 for Perfect Money)Up to 50,000 for Neteller0%
Cash & VouchersUp to 1 day$10$5000%

Withdrawal Methods

Most withdrawals are free, except on some banks and digital wallets, where Roboforex charges a small percentage (always less than 2%) for withdrawals. Most withdrawals take less than 3 days to go through, except for bank cards which could take up to 10 days. The minimum withdrawal you can make is 0.1 USD, on the PerfectMoney digital wallet. Some other withdrawal methods allow you to withdraw around 1 to 5 USD.

How to Withdraw Funds on RoboForex

You can withdraw funds in the member area by following these quick steps:

  1. Go to “Withdraw Funds” in the member area.
  2. Confirm that the active account is the one you wish to withdraw funds from. 
  3. Select the payment system from the ones available and click “Go to”.
  4. Depending on the payment system you choose, you may be required to fill in some additional information. 

Education at RoboForex

RoboForex is a great place to learn how to trade financial instruments, as they have some great educational resources for beginners and experienced traders. One of the easiest resources to access on RoboForex is the blog which they update with regular informative articles on trading and financial literacy. 

Another great resource you can find on RoboForex is their collection of forex educational videos. These videos are detailed for beginners and help new traders break into the world of trading. You can also find pages dedicated to helping beginners understand the broker website and platforms, with FAQs on most pages.

Customer Support at RoboForex

Customer Support at RoboForex

RoboForex has a pretty solid customer support system that allows you to reach out to them with your complaints 24/7. Their customer service comprises different methods for reaching them. One is the call center which operates 24/7 and has experts in 10 different languages to respond to you and handle your complaints. 

Customer Support at RoboForex

You can also connect with them via live chat and get an immediate response from an agent. There are also social media options for you to chat with them and leave comments on their posts for quick responses. The available social media platforms are Facebook, Twitter, Telegram, and Instagram.    

RoboForex Reviews

We went through comments and reviews on Reddit, Quora, TrustPilot, and ForexPeaceArmy to find out what people think about RoboForex. 

What Reddit Users Say About RoboForex

Reddit is a social platform dubbed “the front page of the internet” because of how fast its users pick up trends. There are many dedicated spaces on Reddit for finance, trading, and related subjects, with thousands of Redditors giving their opinions on these topics. 

We scanned Reddit for some reviews on RoboForex and found some on the r/Trading subreddit, where there was a thread from a Redditor asking others in the subreddit if they had used RoboForex and what they thought about it. 

One Redditor wasn’t thrilled about the fact that RoboForex didn’t accept clients from the USA, Canada, Australia, and Japan.

What Reddit Users Say About RoboForex

Another Redditor mentioned some of the good and bad sides of RoboForex in their review. According to the Redditor, the spreads were not good enough, and CopyFX, the social trading feature of RoboForex, was worthless. On the other hand, withdrawals were easy and quick. When asked why they didn’t like the CopyFX feature, the Redditor said that RoboForex didn’t provide good expert traders for beginners to copy in social trading. Most of the so-called expert traders were influencers with thousands of followers and little trading experience.    

What Reddit Users Say About RoboForex

What Reddit Users Say About RoboForex

What Quora Users Say About RoboForex

Just like Reddit, Quora is a social network where people discuss a wide range of topics, like economics, trading, sport, etc. We couldn’t find many reviews on Quora about RoboForex. We found a few comments that explained how the broker worked and a few accolades it has received over the years, but we couldn’t find any personal experiences from traders who had used the broker in the past.

What Quora Users Say About RoboForex

What TrustPilot Users Say About RoboForex

Trustpilot is a trusted review website where people leave comments about their experiences with different software, companies, tools, and so on. More than one million comments are added every month on this platform from satisfied and disgruntled customers. We went through TrustPilot to get reviews from people who have used RoboForex.

RoboForex had 2.9 stars out of 5 stars from its past and present users. The majority of the comments were from people with negative experiences, most of whom were enraged that they lost money because they weren’t aware they couldn’t withdraw money from their trading account as US citizens.

One person’s review mentioned how RoboForex scammed them by changing their login details and stealing their funds. Another person said RoboForex flipped charts when they were trading, causing them to lose $50,000.

What TrustPilot Users Say About RoboForex

What TrustPilot Users Say About RoboForex

What TrustPilot Users Say About RoboForex

However, there was one person with a positive review. They loved the low spreads, quick execution, and wide variety of trading instruments.

What TrustPilot Users Say About RoboForex

ForexPeaceArmy Reviews on RoboForex

ForexPeaceArmy is a trusted forex review website where thousands of people drop opinions on forex brokers. Overall, RoboForex had 2.5 stars out of 5 stars, but most of the comments were negative. Some claimed the broker had terrible trading conditions, with execution times often exceeding a couple of minutes.

ForexPeaceArmy Reviews on RoboForex

ForexPeaceArmy Reviews on RoboForex

Other reviewers claimed their accounts were either blocked or their trades frozen. Not many people recommended the use of this broker. 

ForexPeaceArmy Reviews on RoboForex

ForexPeaceArmy Reviews on RoboForex

Is RoboForex Safe?

RoboForex is an offshore forex broker, meaning most regulatory bodies that protect traders’ funds and private information in countries like the USA, Canada, and Australia do not protect forex traders that use this broker. If you live in any of these countries, do not open an account with this broker, as you may lose your funds. RoboForex is regulated by the Financial Services Commission (FSC) in Belize and licensed by the Cyprus Securities Exchange Commission (CySEC) in Europe, so there is a level of safety associated with them. In fact, RoboForex is one of the most regulated offshore brokers. 

However, you have to be extra careful and check that your country is not among the prohibited countries to avoid losing your funds. Also, you have to be careful when using extreme leverages provided by the broker when trading. RoboForex has negative balance protection, so you can be sure you won’t fall into debt when you trade with leverage. Still, it helps to be careful to prevent huge losses.

Other Products and Services of RoboForex

Some other products and services offered by RoboForex are:

CopyFx

CopyFX is the social trading platform on RoboForex that allows you to copy trades of successful traders. All you have to do is register, specify your investment amount, and either copy someone’s trades or share your trading strategies with others. 

CopyFx at RoboForex

One-Click Trading

One-click trading is a tool mostly used by experienced traders. It allows them to open and close trades quickly without confirmation, after entering predetermined trade parameters.

One-Click Trading at RoboForex

Affiliate Program

Traders can join the affiliate program, market the broker to other interested traders and get a commission when they sign up with RoboForex.

Affiliate Program

Bottom Line

The broker a trader chooses for trading is extremely important if the trader wishes to be successful and safeguard his personal information. In this review, we were able to establish that RoboForex has been in the financial trading industry for many years now, and has proven to be worth considering for beginner and professional traders. It is regulated by the FSC in Belize, allowing it to provide trading services to traders in Belize and many other countries around the world.

Although it is less desirable to many traders because of its lack of availability in the USA, Canada, Japan, and Australia, RoboForex makes up for it by providing multiple trading platforms, multiple financial instruments and higher leverages for people in other countries. It allows the trading of stocks, forex, ETFs, indices, soft commodities, metals, energies, and cryptocurrencies. It also allows multiple payment methods, including bank transfers, debit/credit cards and digital wallets.

Reviews of RoboForex were not as friendly as we had hoped, with more people stating more bad experiences with the platform than good ones. However, we believe this broker is worth trying out if you are in an eligible trading country.

Q & A

No, RoboForex is mostly regulated by the International Financial Services Commision (FSC) in Belize.

RoboForex is both a market maker and ECN broker, depending on the type of account you choose to use.

Yes, you can invest in US stocks through RoboForex. However, RoboForex does not allow US clients.

No, RoboForex does not accept US clients. You may lose your funds if you try to create an account as a US citizen.

To use the copy trading feature on RoboForex, you need to register and deposit some funds in your account. Then you can choose to copy trades from a popular trader or share trades to other people. Copy trading is possible on RoboForex thanks to CopyFX, its proprietary copy trading platform.

The demo account is the best account to start with for beginners. If you want a real account, you can start by using the Pro Account.

The minimum spread on RoboForex starts from 0.0 pips.

You can trade with leverage up to 1:1000 and 1:2000 on MetaTrader 4 & 5 platforms.

The maximum leverage to trade crypto on RoboForex is up to 1:50.

The minimum deposit on most RoboForex account types is 10 USD/ 10 EUR, except on R Stocks Trader which has a 100 USD / 100 EUR minimum deposit.

No, RoboForex trading fees are relatively low and comparable to most international brokers.

Yes, RoboForex has an affiliate program where traders can make a commission for referring other traders to the broker.

Yes, you can get rebates for forex trading on all types of accounts on RoboForex.

You can receive the RoboForex “Profit share bonus” when you deposit funds to MetaTrader 4/MetaTrader 5-based cent or standard accounts, provided you choose the “Profit share bonus” option when filling the depositing form.

RoboForex has 4 deposit methods: credit/debit cards, bank transfer, cash/vouchers and digital wallets. 

No, most RoboForex reviews on Reddit, Quora, TrustPilot and ForexPeaceArmy are mostly negative.