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RoboForex – Review 2021, Testimonials & User Ratings

4.5 / 5

Despite being quite young, the Company has been very scrupulous about developing a flexible system of trading accounts, creating convenient trading platforms, investment ideas, and educational materials. As for the range of assets, such a long list of instruments is rather infrequent among competitors. In addition to that, RoboForex clients’ benefits are due in no small part to different promotions, such as welcome bonuses, depositing/withdrawal without commission, coupons, cashback, etc. The broker applies huge resources to the implementation of more innovative services, which make trading simpler for both beginners and professionals. Below, we’ll go into details of why exactly RoboForex is so remarkable.

General Information

RoboForex is a rapidly growing in popularity broker, which was founded in 2009 and operates in a lot of countries all over the world. Year after year, the client account database adds more than 100,000 units and currently exceeds 3 million accounts. The broker’s high reliability is confirmed by the IFSC Belize license (No. IFSC/60/271/TS). Moreover, RoboForex is a member of the Financial Commission’s Compensation Fund with insurance payouts of up to 20,000 EUR.

Advantages and Disadvantages

Favorable trading conditions: a great variety of trading accounts allows clients to choose the most favorable conditions in regard to commissions, spreads, minimum deposits, numbers of available assets, etc.

The Company’s proprietary solutions: RoboForex decided not to limit itself to offering classic trading platforms and developed its own terminals that meet the demands of traders with different experience and skills.

Regulated activity: RoboForex is registered in Belize and has the corresponding license of this country’s regulating authority. In addition to that, the Company is a member of an international organization called The Financial Commission, which resolves disputes between its participants and their clients, and also is a participant of its Compensation Fund.

Winner of multiple awards: recognition of the broker’s achievements is confirmed by more than 10 prestigious awards received by the Company in recent years. RoboForex won first place in the nominations related to cryptocurrencies, security, investment services, etc. Such awards show that the broker has created excellent services for its clients.

A wide range of assets: a significant advantage to many of the company’s clients is the opportunity to trade assets from 9 different categories, such as Currency pairs, Stocks, Indices, and many others. Some of the assets offered by RoboForex are missing at most of the other brokers.

Investment opportunities: RoboForex platform offers investments in copying transactions of successful traders and multipurpose proprietary trading ideas.

Bonus program: RoboForex pleases its clients with various bonus programs. the very first bonus that you can get is Welcome Bonus 30 USD. To receive it, depositing $10 to your account will be enough.

Market analytics: large analytics base, including Forex forecasts, market analysis, and a lot more are available to traders in a special section of the RoboForex website. The analysis is performed by the company’s experts based on technical and fundamental indicators, including Ichimoku Kinko Hyo, Murrey Math lines, Fibonacci retracements, etc.

Variety of educational information: in the educational section, there is a lot of detailed information on how to get to know trading terminals, organize the working process, analyze financial markets, and other aspects of trading with this broker.

Balance protection: a smart system of protecting your trading account balance won’t allow it to go negative.

Trading cryptocurrencies: in the last few years, predicting price movements of popular cryptocurrencies has become a very promising trend in trading. The broker took advantage of this innovation and implemented the opportunity to trade Bitcoin, Bitcoin Cash, Dash, Ethereum, and other cryptocurrencies.

Demo account: the availability of a free practice account with all necessary functions helps beginners to learn the basics of trading, while more experienced traders can test their trading strategies without financial losses.

Lackluster results: according to numerous reviews in the internet, analytics provided by the broker doesn’t always demonstrate good results. On the other hand, any analytical review is a personal opinion of an author and may both hit and miss the target, and RoboForex warns its clients about it on the company’s website. We recommend you check information received from different sources of forecasts with your trading system.

Trading Conditions

For a start, it should be noted that in some instruments there are no spreads at all, the leverage value is 1:2000, order executions speed is from 0.1 seconds, while the number of currency pairs exceeds 40.

If you decide to trade stocks of global companies, there is a list of more than 10,000 instruments. The leverage value, in this case, will be 1:20.

Apart from Stocks and Currency pairs, there are ETFs, Commodities, Precious metals, Energies (heating oil, gas, oil), Cryptocurrencies, and Cryptoindexes (Crypto.Top, Crypto.Alt).

On average, the minimum lot is 0.01, the maximum number of digits after a comma is 5, and available account base currencies are EUR, USD, RUB, and GOLD.

Trading strategies

Thanks to a wide range of trading assets and platform with analytical tools, the broker’s clients have a vast room for experiments in creating and testing their own trading systems, either of technical or fundamental nature. Moreover, you can test yourself in new areas. For example, if you have never traded stocks, cryptocurrencies, or commodities before, the broker offers you an excellent opportunity to try these markets using a free demo account.

Trading Platform

RoboForex clients don’t suffer from a shortage of trading terminals. Let’s start with the most popular and widely recognized solutions.

MetaTrader 4 – one of the most widespread terminals on the currency market. It offers three modes of order execution, includes about 50 indicators, and provides the opportunity to make trading operations automated by using algorithmic trading. In addition to the above-mentioned features, the terminal allows to trade cryptocurrencies, such as Bitcoin, Ripple, Litecoin, and others. If necessary, one can download a mobile application called MT4 or open the platform’s web version of the broker’s website.

MetaTrader 5 – a more cutting-edge trading terminal with advanced tools for trading. MT5 offers 4 modes of order execution, 6 different types of pending orders, a large store of trading robots and indicators, a multi-currency tester, as well as the opportunity to rent a virtual hosting for 24/7 operation of your trading systems and signal subscriptions. Just like MT4, the fifth version of the popular terminal has both mobile and browser alternatives.

Apart from classic platforms of the MetaTrader series, the broker other terminals to choose from – R Trader and cTrader. The first terminal has great functionality for trading on the stock market, while the second one offers quite rare types of orders, more than 50 technical indicators, 14 timeframes, “smart” charts, along with mobile application and web version.

The company didn’t forget to develop its own products. As a result, its proprietary solutions, R WebTrader and R MobileTrader came into existence. These are very convenient terminals that allow clients to trade on their МТ4-based accounts using any gadget (PC, tablet, or smartphone) from anywhere in the world. The platform includes more than 10 technical indicators, offers 9 tools for chart analysis, implements a special feature for instant funds depositing, switching between trading accounts, and receiving analytical reviews.

All terminals available at the company can be downloaded from a download section.

Mobile Trading

RoboForex delivers quite qualitative mobile trading. Here’s the complete list of mobile solutions offered by the broker: MetaTrader 4 mobile application, MetaTrader 5 mobile terminal, R MobileTrader, and cTrader Mobile. All these products are available for leading mobile operating systems, Android and IOS. Each of them has its own distinctive features, unique functions, and tools, which make mobile trading equal to a desktop one.

Demo Account

Anyone who wants can open a free demo account at the broker. This account is completely the same as a real account and helps to learn all trading conditions available at RoboForex. Using demo accounts, you can trade assets from 8 major categories.

Account Types

The Company pleasantly surprises clients by a variety of trading accounts, which were developed to meet the demands of traders with different levels of experience and training.

Pro-Standard – the minimum deposit is 10 USD/EUR, more than 33 currency pairs, along with Metals and CFDs. The order execution mode is Market Execution, the spread is floating, from 1.3 pips. The maximum permissible leverage is 1:2000 and the number of digits after a comma is 5. Also, there is a list of bonuses, maximum/minimum order values, and permissible trading volume.

Cent accounts – a perfect choice for beginners who don’t want to lose much money early in their trading career. The minimum deposit here is also 10 USD/EUR. When depositing this sum of money, you will get 1,000 US Cent to your account.

ECN accounts – an account type suitable for “advanced” traders, who want to work on more favorable trading conditions. The initial deposit is from 10 USD, the commission is 20 USD for the trading volume of 1 million USD, and spreads are from 0 pips.

Prime accounts – the most favorable account type available at the company, which was specially created for VIP clients. Spreads from 0 pips, “lightning” speed of order execution, commissionless funds withdrawal, accounts in USD, EUR, RUB, or GOLD, a dedicated МТ4 server, cashback up to 10%, and many other privileges.

Swap-free (Islamic) accounts – an exceptional solution for Islamic clients, who aren’t allowed to trade with swaps due to their religious beliefs. Clients with this account type pay only a fixed commission and nothing more.

Until the end of 2020, there is a special offer for RoboForex ECN accounts: spreads are now even more favorable, while the maximum permissible leverage value has been increased up to 1:500.

Trading conditions for Prime accounts, just like ECN accounts, has been improved until the end of the year: no requirements to the minimum deposit (instead of 5,000 USD), the leverage value is up to 1:300, and commission for the trading volume of 1 million USD for some instruments has been decreased don to 10 USD! The special offers will be effective throughout the entire year of 2020.

Opening an Account

To open an account at RoboForex is very simple. To do it, you have to go to the registration page and specify your personal information. Please note that the procedure is available only to those who are 18 years of age or older.

Funds Withdrawal

The broker offers to deposit/withdraw funds via more than 20 payment systems, which include banks, electronic payment systems (Qiwi, WebMoney, Yandex.Money), bank cards, terminals, and SMS. All commissions for depositing funds are compensated by the broker. Funds withdrawal without commission is available twice a month, on the first and third Tuesdays. In addition to that, there is an option of quick depositing/withdrawal via Skrill and NETELLER.

Trader Training

RoboForex is actively developing several platforms for education a new generation of traders. The company’s blog regularly publishes topical articles for traders with different skills and experience, as well as reviews of expert advisors, indicators, and trading strategies.

The same information is published on the company’s YouTube channel in the form of videos. Apart from creating educational videos, the company’s analysts deliver weekly reviews of the Forex, Stock, and Cryptocurrency markets.

Both these platforms, as well as the company’s profiles in social networks, help traders share their experience, communicate with each other, and interact with their colleagues and the company’s representatives.

Also, particular attention should be paid to a copy-trading service. If you lack trading experience, you can receive profit by copying transactions of successful traders and pay them a small commission for that.

Should I Trade with RoboForex?

In this review, we took a brief look at different aspects of working with the broker and made sure that it created a powerful trading and investment platform for traders with absolutely different preferences, goals, experience, and skills. The broker offers its clients to choose a suitable trading account and trade through a convenient platform with the most profitable trading assets. You can start working with the minimum investments, but your prospects will be far from minimum. We wish you successful cooperation with RoboForex if you choose them as your partner.

1 comment:

  1. avatar
    Mishal
    03/05/2021

    I want to know can i trade cyrpto with you ?

    5/5

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RoboForex – Review 2021, Testimonials & User Ratings

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