RoboForex Review 2020
RoboForex is a multi award-winning online broker offering 9,400+ trading instruments across multiple asset classes. They provide a range of flexible trading platforms and accounts along with trading tools and indepth market analysis.
RoboForex Review 2020, Pros & Cons
- Segregated client funds
- Negative balance protection
- Financial Commission member
- Verify My Trade
- 9,400+ trading instruments
- Multiple trading platforms
- Flexible account types
- Analytics Center
- Multiple awards
- No US clients
- Restricted leverage for EU clients
- No fixed spread accounts
In this detailed RoboForex review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
RoboForex is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including RoboForex.
RoboForex Review: Summary
Founded in 2009, RoboForex is an award-winning online broker offering traders across the globe access to trade over 9,400+ trading instruments in multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs.
RoboForex use 8 liquidity providers (LPs), offering spreads starting from just 0 pips, good execution speeds and leverage of up to 1:1000. They claim to have over 800,000 clients in 169 countries, with more than 2 million trading accounts opened.
RoboForex offer the popular MetaTrader platforms, professional cTrader platform and their very own exclusive proprietary R Trader platforms, providing a comfortable trading experience and catering to the needs of different traders. Platforms are available for desktop, web and mobile.
The experienced RoboForex team are focused on implementing the latest innovative technologies to offer the best possible trading conditions to all clients whatever their level of experience or investment size.
RoboForex clients have access to a range of trading tools, educational materials, market analysis, promotions and trading signals. Support is offered 24/7 and there are 20 flexible funding options to choose from.
RoboForex are a rapidly expanding online broker and have been recognised by the financial industry having won over 20 awards and titles including the Safest Broker 2018 (London Investor Show), Best Crypto Broker 2018 (Manchester Investor Show), Best Investment Products 2017 (London Forex Show), Best ECN Broker 2016 (IAFT Awards) and Best Retail Forex Broker 2015 (Mena 15th Forex Show).
RoboForex Review: Regulation
RoboForex Ltd is an international broker, which is a member of RoboMarkets/RoboForex Group. RoboForex are headquartered in Belize.
RoboForex Ltd is regulated by the International Financial Services Commission (IFSC), license IFSC/60/271/TS. IFSC is the Belize government agency which regulates financial market services and enforces regulations to protect investors and ensure companies operate in a transparent and responsible manner. IFSC Belize follow international anti-money laundering (AML) policies.
RoboForex Ltd are an “A” category member of The Financial Commission who are an international organisation which aims to resolve disputes between its members and their clients pre-trial through alternative settlements. They are also a participant within the Financial Commissions Compensation Fund that provides eligible traders insurance cover of up to €20,000.
Since 2018, RoboForex Ltd have regularly used the Verify My Trade (VMT) service which provides a quality auditing review of order execution to evaluate how they are executing client orders. RoboForex Ltd sends 5,000 depersonalised client trades for VMT to analyse and compare to other brokers each month. To gain a quality certificate, the results should comply with the market average values. RoboForex Ltd have received an execution quality certificate that confirms compliance with the strict requirements of the Financial Commission to its member brokers.
RoboForex Ltd offers clients negative balance protection which can prevent accounts from going into a negative balance during volatile market conditions. In this instance, they will automatically put the account balance to zero without the client needing to pay anything for this service.
Client funds are held separate from the company funds in segregated account to ensure that they are safe and not used for any other purpose such as the companies running costs.
RoboForex Review: Countries
RoboForex do not provide services to residents of the USA, Canada, Japan and Australia. Some RoboForex broker features and products mentioned within this RoboForex review may not be available to traders from specific countries due to legal restrictions.
RoboForex Review: Trading Platforms
RoboForex have taken into consideration the needs of different traders and provide a flexible range of platforms to suit individual requirements. Each trading platform offers a comfortable and efficient trading environment.
RoboForex offer the popular and widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms for desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
There is the cTrader platform for professional traders who need direct STP access to the markets. They also offer their very own in-house platforms: R Trader for desktop, R WebTrader and R MobileTrader.
In addition to the trading platforms offered, there are 2 platforms for providing and copying signals. These are the CopyFX and RAMM platforms respectively.
MetaTrader 4 (MT4)
MT4 is one of the most popular platforms used by new and experienced traders across the world. It has an intuitive interface and many built in features and tools for convenient trading.
There are 3 order execution types, 9 chart timeframes, 50+ integrated technical indicators, graphical objects, automated trading capabilities, strategy tester, one click trading, marketplace, news, alerts and more.
There is a large online MetaTrader community where users share ideas, templates, indictors and automated systems. The MetaTrader marketplace has a number of expert advisors (EAs), indicators and signals to choose from. Some are available for free and some can be purchased.
MetaTrader 4 (MT4) Mobile App
MT4 is available for download on both Android and iOS devices so that users can trade on the go from anywhere in the world. It has the same familiar interface as the desktop platform with the same embedded features and tools for flexible trading in the palm of your hands.
MetaTrader 4 (MT4) Web Platform
The MT4 web platform runs directly in most popular web browsers without needing to download or install any additional software. It maintains the same features, tools and performance as the desktop platform with the freedom to use it from anywhere in the world with an internet connection.
MetaTrader 5 (MT5)
MT5 is a newer more advanced version of the MetaTrader platform with a similar interface, some additional tools and features including 4 types of order execution, 6 types of pending orders, more timeframes, more technical indicators, market depth, multi-currency strategy tester and more.
Users have access to the MetaTrader market with over 1,500 expert advisors (EAs) and technical indicators to choose from. MT5 also features flexible netting and hedging capabilities.
MetaTrader 5 (MT5) Mobile App
MT5 is available for download on both Android and iOS devices so you can access your trading account whilst on the go. The mobile application contains the same functions and features as the desktop platform.
MetaTrader 5 (MT5) Web Platform
The MT5 web platform lets you trade on the platform through most popular web browsers from anywhere in the world with an internet connection. You do not need to download or install any additional software and it contains the same features as the other MT5 platforms.
RoboForex have their very own exclusive RoboForex platform for multi-asset trading on financial charts with advanced trading tools for technical analysis built in. Users have access to over 9,400+ trading instruments and many features to satisfy the different trader needs and skill levels. The platform is user friendly and easy to navigate.
R Trader is designed for convenient trading and can be fully customised. It includes level II market depth, unique watchlists, multiple windows, multiple chart layouts, customisable viewing methods, trading from charts, template strategies, technical indicators, market news and one click trading. There is an automated strategy builder for creating and testing trading strategies with historical data all the way back to 1970.
There is no cost or minimum volume requirements to use the R Trader platform and online 24/7 support is on hand to assist you.
The R MobileTrader is available for download on both Android and iOS and is useful for those who wish to have the convenience of trading from their mobile devices from anywhere in the world with an internet connection. It maintains the same functionality as the desktop platforms and is free to download from the relevant app stores.
The R WebTrader has the same capabilities and features as the desktop version but instead runs directly within most modern desktop and mobile web browsers. This is useful for those who need to trade on the go from anywhere in the world. The web terminal does not require any software downloads or updates.
RoboForex offer the cTrader platform for professional traders, providing them with direct STP access to the global markets. cTrader is often the choice for experienced traders who require rare types of orders, level II pricing and superior execution speeds.
cTrader features include over 50+ technical indicators, 9 types of advanced interactive charts, 14 timeframes, alerts and more. You can create your own trading robots and indicators in C# using cTrader Automate.
cTrader mobile has the same features as the desktop version and is available for download on both Android and iOS devices. You can set notifications within the mobile app and conveniently manage your account on the go from anywhere in the world.
The cTrader web platform runs in most modern browsers without needing to download any additional software. It functions the same as the desktop platform running with the flexibility and independence of a web interface.
The RAMM platform lets traders invest in other trading strategies with increased control over risks and proportional profit distribution. It has an intuitive user interface where you can choose to subscribe to or provide your own strategies. You can choose how much you wish to invest and remove or add strategies at any time. It is important to note that previous results and performance are by no means any indication or guarantee of future performance.
The CopyFX platform allows traders to copy other traders’ transactions or to offer strategies for others to copy. Users can specify conditions and create subscriptions from within the RoboForex Members Area. It is important to note that previous results and performance are by no means any indication or guarantee of future performance.
RoboForex Review: Trading Tools
RoboForex have a vast collection of independent trading tools available to clients. This includes market analysis tools, calculators, calendars and a VPS service.
RoboForex Analytics Center
The RoboForex analytics center provides all analytics in one place and is free to all RoboForex clients. It can be accessed from your browser or you can download the Android and iOS applications to conduct analysis from your mobile device.
The analytics center supports 13 languages and features a large selection of up to date information for analysing the financial markets including market sentiment, technical and fundamental analysis. It is accessed independently from the trading terminal with a user-friendly compact display, interactive data layout and fully customisable filters.
The feed section gives an overall market overview showing fundamental, technical, and wave analyses, Fibonacci retracements, Ichimoku Cloud, forecasts for a week and commercial news. In this section you can find up to date economic data and trade recommendation based on key parameters.
The economic calendar displays up to date fundamental data and indicators including the latest market news, public holiday dates, bank interest rates, worldwide economic indicators, trading sessions and dates when registries of the world’s leading companies are fixed. Each subsection can be filtered and searched according to user requirements.
The signals section displays signals in a table format along with data available on 7 timeframes from the 1 minute to daily. Technical indicators used include multiple moving averages, Bollinger Bands, Ichimoku, Stochastics, William`s, ZigZag and market sentiment charts.
This section contains tools such as historical volatility chart, pivot point level calculations, Fibonacci retracements and more. The data is conveniently displayed to assist with conducting market analysis based on the calcualtions from each of the tools.
There is a chat section where you can read question and answers from other users as well as ask questions of your own to the experienced analysts.
The education section has ready-made trading strategies for different styles of trading and video tutorials from MetaQuotes for insights into expert advisors, signals, hosting and more.
The video section contains weekly video forecasts for some of the most popular trading instruments.
R Trader Strategy Builder
RoboForex have a free and easy to use strategy builder tool where you can create your own automated trading systems without needing to conduct any complex coding. The strategy builder has a simple to use point and click interface where you can design, back test and deploy automated trading systems based on your own strategies.
The automated strategies are saved and run from the server and thus there are minimal execution delays. As the strategy builder hosts the strategies on a secure cloud server, there is no VPS required and they can be accessed from anywhere at any time. There are pre-designed templates that you can use to familiarise yourself with the builder or expand on.
You can back test your strategies on different markets and timeframes. Back testing data from 1970 is available for long term testing although it is worth noting that historical results are by no means a guarantee of future performance. Support is on hand to assist you with questions related to the strategy builder.
The trading calculator allows you to calculate your position parameters based on instrument, leverage, lot size and account currency. This can help with planning and trading decisions.
RoboForex have an economic calendar that displays the latest upcoming financial news events. This is often used as part of a fundamental analysis. Key events and highlight are displayed such as news reports, prices indices and financial indicators, the latest inflation and unemployment readings. You can view dates and times of speeches and reports delivered by heads of global financial regulators. News can be filtered by impact (low, medium, high), date and country.
Virtual Private Server (VPS)
A VPS allows you to remotely run your trading platform 24/7 so that you do not always need your computer on. They are often used where there is the need to run an automated trading system around the clock or if the local internet connection is unreliable and you need minimal downtime.
VPS’s can be accessed via desktop, laptop or mobile devices at the same time. RoboForex offer a free VPS to eligible clients. To qualify for a free VPS, clients need to maintain an account balance of at least $300 and produce a monthly trading volume of at least 3 standard lots.
RoboForex Review: Education
RoboForex have some educational material suitable for different skill levels of traders. There is market analysis, video tutorials, FAQs and trading tips.
Analysis & Forecasts
The analysis & forecasts section contains frequently updated and detailed technical and fundamental analysis across different markets.
RoboForex clients have free access to several video tutorials from the analytics center. These are especially useful for beginners as subjects covered include the market basics, technical and fundamental analysis, trading psychology and risk management.
There is a vast frequently asked questions area on the RoboForex website that covers a range of topics from the services and products they provide to general trading questions.
There is a trading tips section on the RoboForex website that has some useful tips for trading safely, minimising risk and preparing yourself.
The frequently updated RoboForex blog has a wealth of articles covering different topics such as analysis, education, markets and more.
RoboForex Review: Trading Instruments
RoboForex have a very large selection with over 9,400+ trading instruments from multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs.
RoboForex offer forex trading on 40+ major, minor and exotic currency pairs, including EURUSD, GBPUSD, USDJPY, EURGBP and USDCHF. Leverage of up to 1:1000 is available with spreads from 0 pips and execution speeds from 0.1 seconds.
RoboForex offer contract for difference (CFD) trading on American, German, and Swiss stocks. Clients gets access to more than 9,400+ stocks such as Apple, Amazon, Facebook, Google, Tesla and much more. There are real time online quotes, stock exchange charts and leverage of up to 1:20.
RoboForex clients have access to popular indices with spreads from 0 pips and execution speeds from 0.1 seconds. Instruments offered include the Dow Jones, NASDAQ, TSX and SPX.
RoboForex offer more than 1,000+ exchange-traded funds (ETFs) for trading with leverage up to 1:20 and spreads from 0 pips.
RoboForex clients can invest in ETFs with 1:20 leverage on more than 100 soft commodities such as cocoa, coffee, corn, wheat, sugar, soybean and fruit.
RoboForex offer traders Gold (XAU/USD), Silver (XAG/USD), and ETFs on gold, palladium, platinum and silver. Spreads start from as low as 0 pips with order execution speeds from 0.1 seconds.
Clients can trade ETFs and CFDs on energy commodities including oil (WTI, Brent), natural gas, and ethanol. Spreads start from 0 pips and leverage of up to 1:100 is available.
RoboForex clients can trade CFDs on 26+ cryptocurrencies including Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Litecoin, and Ripple. Cryptos are available to trade 24/7 with leverage up to 1:50.
RoboForex clients can access the global cryptomarket with Cryptoindexes, Crypto.TOP and Crypto.ALT. When buying Cryptoindexes, you are investing in the growth of the whole cryptocurrency market, rather than just individual instruments.
RoboForex Review: Trading Accounts & Fees
RoboForex have several flexible account types for different trader requirements. The main difference between the account is that some offer lower variable spreads with a commission charge and others offer marked up variable spreads with no commission charge. Demo accounts are available to test the different trading platforms and conditions before opening a real account. Swap free Islamic accounts that comply with Sharia law are available upon request.
This account requires a $10 minimum deposit, has variable spreads from 1.3 pips and charges no commission fee. Maximum leverage is 1:1000 with minimum order size 0.01 lots and maximum order size 100 lots.
This account requires a $10 minimum deposit, has variable spreads from 0 pips and a $20 commission fee per 1 million in traded volume. Maximum leverage is 1:300 with minimum order size 0.01 lots and maximum order size 50 lots.
This account requires a $5,000 minimum deposit, has variable spreads from 0 pips and a $15 commission fee per 1 million in traded volume. Maximum leverage is 1:100 with minimum order size 0.01 lots and maximum order size 50 lots.
This account is similar to the pro account but uses cents rather than dollar. It requires a $10 minimum deposit, has variable spreads from 1.3 pips and charges no commission fee. Maximum leverage is 1:1000 with minimum order size 0.1 lots and maximum order size 500 lots.
There are affiliate versions of the pro-standard and ecn-pro accounts that have increased spreads and commissions for clients who are receiving additional services from RoboForex partners.
R Trader Account
This account offers over 9,400+ instruments and requires a $100 minimum deposit. It has variable spreads from $0.01 pips and a minimum $1.5 commission fee. Maximum leverage available varies and goes up to 1:200 with minimum order volume of 1 stock and maximum order volume of 2,000 stocks.
As broker fees can vary and change, there may be additional fees that are not listed in this RoboForex review. It is imperative to ensure that you check and understand all of the latest information before you open a RoboForex broker account for online trading.
RoboForex Review: Customer Service
RoboForex offer 24/7 professional support in 11 languages. Support are ready to answer your questions via online chat, phone and email. There is also a call back services where you can leave your number for them to get directly in touch with you.
RoboForex Review: Deposit & Withdrawal
RoboForex have over 20 payment systems that you can use for depositing and withdrawing funds to and from your trading account. You can choose the method that is most convenient for you. There is 0% commission for deposits and withdrawals as all expenses are covered by RoboForex. They also compensate clients commission for funds withdrawal twice a month.
Funding options include bank wire, credit card and online payment systems such as Neteller and Skrill. Please note that some methods may only be available to specific countries.
Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries.
Accounts can be opened in EUR, USD, CNY, RUB, BTC, ETH, GOLD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Accounts have two-step authentication for extra security. This helps to protect your personal information and funds by using SMS verification and back up codes.
RoboForex Review: Account Opening
Opening a trading account at RoboForex is a fast and simple process. You simply complete the short online registration form to get access to the members area. Upon completion you can then apply for a trading account which will require you to upload some documentation for KYC purposes. These documents can be a proof of identification such as a passport or drivers license and a proof of address such as a utility bill. Once your documents have been verified, you will be able to fund your trading account and commence trading.
RoboForex Review: Conclusion
RoboForex is a multi-award-winning online broker offering a vast array of trading instruments across multiple asset classes. They offer a good choice of flexible trading platforms and account types as well as funding options. There is a range of trading tools to assist with trading and plenty of frequently updated detailed market analysis provided.
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. You should not risk more than you can afford to lose, it is possible that you may lose the entire amount of your account balance. You should not trade or invest unless you fully understand the true extent of your exposure to the risk of loss. When trading or investing, you must always take into consideration the level of your experience. Copy-trading services imply additional risks to your investment due to nature of such products. If the risks involved seem unclear to you, please apply to an outside specialist for an independent advice.