RoboForex Broker Review


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    Visit BrokerRisk Warning: Your capital may be at risk


    💻 Demo Account: Yes
    ⚖ Allows Hedging: Yes
    🔪 Allows Scalping: Yes
    🏢 Headquarters: New Zeland
    📅 Founded: 2010
    📈 Trading Platform(s): MT4, MT5, Iphone/Ipad, WebTrader, Mobile Trader
    📜 Regulating Authority(s): FSCL,CySec
    💰 Minimum Deposit:
    📣 Maximum Leverage: 500:1

    Visit RoboForex
    Risk Warning: Your capital may be at risk

    Minimum Deposit
    500:1
    Maximum Leverage
    2010
    Founded

    Our Review of RoboForex

    RoboForex
    Company Overview

    RoboForex bills itself as an international Forex broker that is registered in New Zealand and as of late 2013, was granted a license by CySEC, the Cyprus Securities and Exchange Commission. RoboForex takes its name from the fact that it supports and encourages robotic currency trading, a practice that has grown over the last several years and seems poised to become the dominant approach to currency trading, just as online trading has surpassed physical exchange trading volume.

    Account Types

    Several of the RoboForex account types support simulated trading, which is a good way to gain experience in trading itself, along with hands-on exposure to some of the different types of accounts and the four different trading platforms offered.

    There are two ECN accounts one that offers fixed spreads and another where the spreads are variable. RoboForex promotes its ECN-Pro account as offering the best conditions for scalp trading, with a floating spread, five decimal place quotes and No Dealing Desk executions.

    The Pro-Cent account seems to be the best choice for new traders who want the experience of live trading without committing a large sum of money.

    In addition, there are five other variations, each of which offers pros and cons for different types of traders.

    One nice feature of all the RoboForex accounts is that there is no minimum deposit. Commission of $20 USD per one million USD transacted applies to the ECN-Pro and ECN-Fix accounts.

    Minimum order amounts are as low as $0.20 USD and no higher than $5 USD.

    Commissions and Spreads

    With so many different types of accounts, where RoboForex functions in some cases as an ECN and as a Market Maker in others, commissions and spreads are quite variable, as would be expected.

    The ECN-Pro account mentioned above discloses an average spread of 0.36 pips on the EUR/USD, while the Pro-Cent account lists the EUR/USD spread as averaging 0.96 pips.

    These are indeed tight spreads and one thing that stands out when examining these spreads on the RoboForex website is that this broker offers a lot of currency pairs, over 50 in the case of the Pro-Cent account and similar in the others.

    Trading Software

    None of the RoboForex accounts offers anything less than five different trading platforms and one, the ECN-Pro, features eight. All accounts offer MT4 and MT5, along with mobile platforms for iOS, Android and Windows Mobile. In addition to these, the ECN-Pro account includes cTrader in two versions, one for downloading and one that is web-based, and CX Viking Trader.

    Deposits and Withdrawals

    There are 10 different methods for funding accounts with RoboForex. This includes four types of credit cards, Skrill, Webmoney, CashU, Payoneer, PayPal, AlgoCharge, China UnionPay, NETELLER and RBK. Each method has different minimum deposit amounts imposed by the payment system, ranging from $5 to $500 USD, with most being in the $5-$10 range. RoboForex does not have a fee for any of these, but the funding method may charge a flat rate, percentage or both.

    Withdrawals are slightly more limited in terms of options, five rather than 10, and these do have some modest fees associated with them, all of which are clearly described on the RoboForex website.

    Customer Support

    This area is one where it appears that RoboForex has devoted considerable time and resources. They can be contacted by phone, live chat and email.

    They have substantial offerings in trading training and education, including videos and webinars. There is even a special section devoted to new traders.

    Regulators and Safety

    There are four different agencies involved in regulating RoboForex. Three of these are financial industry groups that have no legal authority, but seek to offer traders the assurance that membership in one or more of the agencies by a broker is a valid indication that the broker adheres to certain standards. These agencies are the FSCL, the FSP and the international Financial Commission.

    RoboForex’s license, as mentioned above emanates from the government of Cyprus.

    Leverage

    Traders can trade at leverage of up to 1:500, with the exception of the ECN-Pro and ECN-Fix accounts, where maximum leverage is 1:200.

    Sign Up Bonuses

    RoboForex is currently offering six different bonus and promotion offers, including one that offers rebates that effectively reduce the cost of trading. Regardless of the broker, these programs can carry some elaborate terms and conditions, but in the case of RoboForex, these are outlined clearly and completely on the website.


    Visit RoboForex's Website

Company Information
Broker's Name
RoboForex
Headquartered in
New Zeland
Year Founded
2010
Regulating Authority
FSCL,CySec
US Clients Accepted
No
Telephone Number
+ 64 92 148 139
Fax Number
E-Mail Address
info@roboforex.com
Account Options
Type of Broker
Dealing desk, No dealing desk, STP, ECN , Bank
Commission
Yes
Mini Account
Yes
VIP Account
Yes
Segregated Account
No
Islamic Account (Swap Free)
Yes
Demo Account
Yes
Institutional Accounts
Yes
Managed Accounts
No
Maximum Leverage
500:1
Minimum Deposit
Deposit Options
Visa/MasterCard, Liberty Reserve, Skrill, Payoneer, LiqPay, CashU, WebMoney
Withdrawal Options
bank transfer, Liberty Reserve, Skrill, Payoneer, LiqPay, CashU, WebMoney
More Instruments
Metals
No
Oil
No
Gold
No
Indices
No
Stocks
No
Commodities
No
ETFs
No
CFDs
No
Trading Platform
Platform Type
MT4, MT5, Iphone/Ipad, WebTrader, Mobile Trader
Platform Languages
OS Compatibility
Mac, Windows, Mobile, Web, iPhone, iPad
Streaming News Feed
Yes
Charting Package
No
Trading Signals
Yes
Automated Trading
Yes
Trade From Charts
Yes
Market Commentary
Yes
E-mail Alerts
No
Mobile Alerts
No
Scalping
Yes
Hedging
Yes
Trailing Stops
Yes
Guaranteed Stop Loss
Yes
Guaranteed Limit Orders
No
Guaranteed Fills
No
Interest on Margin
No
One-Click Execution
No
OCO Orders
No
Mobile Trading
Yes
Web-Based Trading
Yes
Customer Service
Customer Support Languages
English, Spanish, Portuguese, Russian
Customer Service Hours
24
Place Trades Over the Phone?
Yes
Bonuses & Rewards
No Deposit Bonus
Yes
Bonus for First Deposit
No
Is the Bonus Based on the Volume of the Transaction?
Yes
Other Bonuses
Yes


English
Our Rating: 
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Broker Type: 
Forex

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