RoboForex broker review and test – Scam or not?

Review:
Regulation:
Min. Deposit:
Assets:
Spread from:
5 out of 5 stars (5 / 5)
IFSC (Belize)
10$
9000+
0.0 pips

You are looking for experiences with the online broker RoboForex? – Then you are exactly right on this page. The provider has been extensively tested and you will be presented in the following texts the result. Learn more about trading terms and opportunities at RoboForex. Is it a serious provider and should you really invest money there? – Inform yourself now.

The official homepage of RoboForex

Regulation and safety of customer funds
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Trading conditions
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Customer Support and service
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What is RoboForex? – The broker presented

RoboForex is an international broker trading all types of financial products (over 12,000 markets). The company was founded in 2009 and has a great history to this day. RoboForex Ltd has a special brokerage license IFSC Belize “Trading in financial and commodity-based derivative instruments and other securities” under the number IFSC000138/107TS. The address is 2118 Guava Street, Belama Phase 1, Belize City, Belize.

The broker Roboforex is headquartered in Belize and is regulated multiple times (more on that later). According to the website, it can be seen that it is a rapidly expanding company with more than 900,000 customers worldwide. Furthermore, it has multiple awards since 2009 and official sponsorship such as the Kickboxing World Champion Andrei Kulebin.

At first glance, it looks like a very diverse broker, because the offer with over 7 asset classes and 12,000 markets is overwhelming. Also, the conditions for traders are looking very impressive to us.

Watch our full review video of RoboForex:

Facts of the broker:

  • Founded in 2009
  • A huge diversity of markets and account types
  • International online broker
  • RoboForex belongs to a big company group based in the EU
  • Sponsors and awards for the best broker
Adress:
Phone:
Email:
Support:
2118 Guava Street, Belama Phase 1, Belize City, Belize
+65 3158 8389
info@roboforex.com
24/7 Phone, Email, Chat

(Risk Warning: Your capital is at risk)

RoboForex regulation and safety of customer funds

Regulations and licenses are a very important topic in online trading. A trusted Forex Broker should have a license from an official/government regulator. This creates trust in the customer. The broker must adhere to certain criteria and perform tasks to obtain such a license. A violation of the rules would mean an immediate loss of the license. Fraud with regulated brokers is almost impossible.

As described above, RoboForex is regulated and licensed. The broker holds a brokerage license from IFSC in Belize for trading in financial derivative instruments and securities numbered IFSC 000138/107 TS. In addition, Roboforex is regulated by the TFC with the “category A”. This is an international license based in Hong Kong and England. This commission provides neutral arbitration and insurance coverage of up to € 20,000 in the event of an unlikely bankruptcy of the Company. The TFC reviews order execution, trading platforms, and other features of the broker.

RoboForex Regulation

Not to be forgotten is the security of customer funds. The company strictly keeps its funds separate from client funds from large international and liquid banks. In addition, there is no additional funding and the account is protected against negative balance.

RoboForex is regulated: 

Negative balance protection at RoboForex

As mentioned above, there is negative balance protection at RoboForex. Although the broker is not regulated within the EU, it guarantees its clients protection from the negative account balance. Since the leverage at RoboForex can be very high, it is possible to open large positions with little margin. In case of gaps or extreme volatility, market risks can cause high losses. RoboForex will stop you out of all positions beforehand if you have too little margin.

Fast execution of trades verified

The Financial Commission is not only an independent regulator. It also monitors execution at brokers. Over 5,000 order executions are analyzed every month. RoboForex also has the Verify My Trade certificate and openly advertises it. From my personal experience with this broker, I can also confirm that the execution is very fast and reliable. Even with high volume, you can rely on RoboForex.

RoboForex trading verified

RoboForex trading verified

Review of the trading conditions for traders

In total, over 12,000 financial products and 7 asset classes are in the broker’s portfolio. This makes a first good impression on us because only a few other brokers in this category offer such a wide range. With 6 trading platforms, the broker is also very broad.

RoboForex offers different account models customized to the trader’s request (read later on this page). From higher deposits (5,000 €) you can, for example, get cheaper fees when trading in the Prime Account. There are 7 different account currencies available. Another great advantage is that you can create an account and create multiple trading accounts within it. The transfer of funds is very easy.

RoboForex trading conditions

RoboForex trading conditions

In our experience, the order execution on many assets is very fast. The liquidity is always given, so opening large positions is not a problem. The costs of trading are pretty low and sting the competition. For example, trade forex from 0.0 pip spread. The trading fees always deviate from the account type. The maximum leverage of 1:2000 is extremely high but can be adjusted independently.

In summary, the fees and costs of trading compared to other providers in the low range. In addition, RoboForex scores with free and automatic cash withdrawals. From my experience, this broker is one with the best offer for private traders.

Typical spreads in ECN account: 

Asset:
Spreads from:
EUR/USD
0.0 pips
GBP/USD
0.3 pips
USD/JPY
0.4 pips
OIL
0.04 points
GOLD
0.030 points

Forex

Trade over 40 different currency pairs from 0.0 pips spread at RoboForex. The leverage can be as high as 1:2000. However, it should be noted that this high leverage is not available in every account model. You can also set the leverage on your own when opening an account. Commissions start from $3 per traded 1 lot in the best account model. However, you will need a higher deposit for this. Trading fees may be higher for lower deposits.

RoboForex forex trading offers

RoboForex forex trading offer

Stocks

RoboForex offers trading in stocks via CFD with leverage up to 1:20 and via real exchange execution without leverage. More than 12,000 stocks are available at RoboForex. You get a very wide selection at this broker. A total of 3,000 real stocks and 8,400 CFDs on stocks are available. With CFDs, you can also easily go short. The spreads are also very favorable and start from just 1 cent. The minimum commissions are at least 0.25 USD per trade high. Another advantage is that you can trade the stocks 24/7.

RoboForex stock indices offers

RoboForex stock indices offer

Stock indices

Indices are very popular with most traders. RoboForex offers a very low spread of 0.5 points on the Dax for example. The commission depending on the account type starts from $4. In total, over 10 indices from around the world are offered.

RoboForex stock indices offers

RoboForex stock indices offer

ETFs

ETFs are an exchange-traded asset that includes many different markets. If you buy an ETF, it will invest in the underlying assets. RoboForex offers more than 1,000 ETFs for trading. Buy real ETFs or trade them via CFD with a leverage of up to 1:20. The spreads start from 0.0 pips and the minimum commission is 0.25 USD per trade.

Metals

Of course, you can also trade metals at RoboForex. Over 20 different markets are offered in this segment. The fees are very low here as well. Trade gold, silver, copper, and many more.

Commodities

Commodities are available with a leverage of up to 1:20. There are even more than 100 ETFs on agricultural commodities. This requires a minimum deposit of 100€. Spreads start as low as 0.01 in wheat, for example. RoboForex has a great offer here as well.

The best conditions for traders:

  • Trade over 12,000 products in 7 asset classes (stocks, commodities, forex, CFDs, and more)
  • Spreads from 0.0 pip and 6 different account models
  • Maximum leverage 1: 2000
  • Protection against the negative account balance
  • No fees on deposit and withdrawal (20 different payment methods)
  • Scalping and Expert Advisors are allowed
  • There is an own social trading platform
  • Bonus program

(Risk Warning: Your capital is at risk)

Review of the trading platforms of RoboForex

In total 5 various trading platforms based on the Metatrader are offered for trading. The right apps are also available for smartphones and tablets. It is important to know that not all financial products can be traded on a trading platform. For example, there is a special platform for shares (RTrader).

Roboforex offers versions 4 and 5 of the world’s popular Metatrader. This platform has been in use by private traders for years and very much. You have numerous recruitment options there and can freely develop your trading. Adapt the platform to your strategy. Algo trading and automatic robots can be used here.

For better orientation also a MultiTerminal is offered. This allows you to keep an eye on all trading accounts and conduct professional risk management.

Webtrader

The trading platforms offer universal charting and many options for technical analysis. Use indicators, drawing tools, and chart plots to follow successful trading strategies. Also, benefit from fast order execution and deep pool liquidity.

These platforms are available:

  • Metatrader 4 (Forex and CFDs)
  • Metatrader 5 (Forex and CFDs)
  • cTrader (Direct STP for Forex Trading)
  • R Trader (Stock Trading)
  • RoboForex Terminals (Mobile Trading)

MetaTrader 4 and MetaTrader 5

MetaTrader 4/5 (pictured above) is best suited for the private trader to trade the markets at RoboForex. You can use this software for desktop, web browser, and mobile devices. You only need one access for it.

MetaTrader supports automated trading. You can use an “Expert Advisor” and run strategies automatically. Extensive charting features are offered. Use multi-charting, indicators, and drawing tools. With MetaTrader, you can design the trading according to your ideas.

Another advantage of the software is that you can add tools and plugins. MetaTrader is a basic framework and can be further expanded. In addition to the many setting options, professional portfolio management is also possible. From my experience, you should use this platform for trading at RoboForex.

cTrader

RoboForex cTrader platform

RoboForex cTrader platform

The cTrader is quite similar to the MetaTrader 4/5 but offers the trader more advantages in scalping (short-term trading). In cTrader, you get a more accurate insight into the liquidity and order flow of the market. Also, this software is very user-friendly and available for any device. Depending on your needs, this software may be the better choice.

RoboForex offers cTrader only in conjunction with a demo account, ECN account, or Pro-account. With it, you will get the fastest execution with high liquidity.

RTrader

RoboForex RTrader

RoboForex RTrader

RoboForex’s RTrader is suitable for trading all offered assets. Only with RTrader you can trade real stocks and ETFs. Over 12,000 instruments are available on this trading platform. RTrader is completely free and offers you universal charting similar to MetaTrader and cTrader.

For order flow, RTrader offers Level 2 market depth and even Time & Sales. A complete analysis is thereby possible. Automated trading is also supported. There is a construction kit for trading robots. From my experience, there is advanced portfolio management with multiple analysis options in RTrader. This platform is really universal and has the most features.

ECN and STP Trading Accounts

ECN / STP is direct access to the foreign exchange market through banks or liquidity providers. There are no conflicts of interest between brokers and traders. In addition, the fees are extremely low. RoboForex offers ECN or STP access depending on the type of account. Real shares can also be bought from the broker because the company has direct access to the stock market. Unlike a market maker, RoboForex rules out fraud, and 100% of the broker earns only through trading fees.

Mobile Trading for any device

Mobile trading is becoming increasingly important in the era of digitization. Traders also want to be able to trade the market from Unterwegs. With Roboforex apps, you can easily open and close positions with your smartphone or tablet. The apps are available for Android and iOS. Mobile Trading completes the broker’s portfolio and is another plus.

Mobile Trading on tablet

Professional charting and analysis with RoboForex

Technical Analysis is the world’s most successful and popular method of trading the markets. To do this you need a lot of different tools. The trading platforms come with an oversupply of indicators, drawing tools, and settings at the start. Use the candlestick display for advanced analysis. Thanks to the candlesticks, you can see, for example, high, low, opening, and closing prices in a certain period of time.

The platforms are so flexible that the analysis of each time unit is possible. There are also a number of technical analysis drawing tools available (horizontal, vertical, and trend lines). Even user-defined indicators, which can be downloaded on the Internet or programmed by oneself, can be integrated into the trading platforms.

Use different tools:

  • Indicators
  • Technical drawing tools
  • Different charts
  • Automatic trading
  • Social trading

CopyFX (Social Trading) for traders is a good opportunity

Also, copy trading is offered at RoboForex. This is a rarity for Forex and CFD brokers nowadays. With the CopyFX platform, you can access more than thousands of different traders. The minimum investment here is 100 $. Either you copy other traders or you are copied yourself. If you sign up as a trade you can receive high additional commissions.

The advantage of this platform is the exact transparency of the participants. Discover which trader performs best and assess the risk. You have full control of your account and deposits at all times.

RoboForex social trading:

  • Copy other traders for free
  • Registers as a trader and earn additional money
  • Full control about your money

(Risk Warning: Your capital is at risk)

Easy and fast account opening with RoboForex

The account opening is uncomplicated and fast. Create your account with different personal information. Then you will get access to the customer area (picture below). In the customer area, you can manage your account and then create other different trading accounts.

RoboForex offers an unlimited and free demo account for each user. Similar to the live account, you can always create a new demo account in the customer area. Another point is the verification. The broker may only pay out funds to verified customers. We recommend verifying the account before capitalizing. Afterward, you can use all the functions. The verification takes only a few hours and is done with the upload of a passport and proof of residence.

RoboForex account opening form

RoboForex account opening form

Which account type I should choose? – There is a huge diversity

As already mentioned in the text above, there are more than 6 different account models adapted to the wishes of the trader. This is another big plus for RoboForex, as the selection offers traders the opportunity to optimize their trading. It should be noted, however, that not every financial product, such as cryptocurrencies, is available in every account. So it is worth the account models to go through before opening an account.

In the following points we give you an overview of the account types:

Pro-Account:

  • Fix spreads starting at 2.0 pips or variable spreads starting at 1.3 pips
  • Minimum deposit 10$
  • Maximal leverage 1:2000
  • Cashback up to 15% of the broker commission
  • Free withdrawals

ECN-Account:

  • Fix spreads starting at 1.6 pips and variable spreads starting at 0.0 pips (+commission 4$ per 1 lot+)
  • Minimum deposit: 10$
  • Maximal leverage 1:300
  • Cashback up to 15% of the broker commission
  • Free withdrawals

Prime-Account:

  • Variable spreads starting at 0.0 pips
  • Commission 3.5$ per 1 lot
  • Minimum deposit 100$
  • Maximal leverage 1:300
  • Cashback up to 15% of the broker commission
  • Free withdrawals

ProCent-Account:

  • This account is for small investments. The position size is 10 x smaller
  • Fix spreads starting at 2.0 pips and variable spreads starting at 1.3 pips
  • Minimum deposit 10$
  • Maximal leverage 1:2000
  • Cashback up to 15% of the broker commission
  • Free withdrawals

RTrader (Stock Trading)

  • Spreads starting at 0.0001 USD
  • 0.015 USD commission
  • Maximal leverage 1:200 (Trading hour)
  • Maximal leverage 1:4 (After trading hour)

(Risk Warning: Your capital is at risk)

Our review of the deposit and withdrawal proof on RoboForex

There are over 20 methods available for deposits and withdrawals. Capitalizing on the account should not be a problem. The deposits and withdrawals are also completely free! For those who are not satisfied, Roboforex also offers automatic instant payouts. In less than 60 seconds, the application is processed and released. You have 24/7 access to your capital at the broker.

Use credit cards, bank transfers, online transfers, and e-wallets (Neteller, Skrill, etc.) to capitalize on the trading account. In addition, RoboForex has a wallet with which you can save money or carry out transactions. The transactions are very safe and pleasant. There are no hidden costs.

These payment methods are available:

  • Credit Cards (VISA, Master Card)
  • Bank wire
  • E-Wallets (Skrill, Neteller, ePayments)
  • WebMoney
  • Online banking
  • Some deposit and withdrawal methods are depending on your country of residence

Our withdrawal proof:

Some traders claim that Forex Brokers do not pay out their earnings. In the following picture, we will show you my withdrawal proof with 2 different payment methods. There is no problem with withdrawing money at RoboForex.

Withdrawal proof

(Risk Warning: Your capital is at risk)

RoboForex Bonus Program and special conditions

As one of the few brokers, Roboforex offers a very large bonus program, which we will explain to you in the following text. The chance of an extra income or a free gift from the broker is very high. This is true for small accounts as well as large accounts. But you should first remember, the higher your trading volume, the higher the bonus. Roboforex clearly wants to incentivize the client to trade more and invest more money.

Of course, the broker earns more money the higher your trade sum is. Part of the earned money he shares with you in the bonus programs. Take a look at the different bonuses:

Deposit Bonus:

Get extra capital when depositing. This can be up to 120% depending on the amount of the deposit. Example: With a 100% bonus on a deposit of 5000 $ you get 5000 $ additional capital. Your balance is then 10,000 $. This allows you to trade with higher risks and higher positions in the market.

The bonus is of course also subject to conditions. You can not pay the entire bonus before a trading volume has been reached. Example: With a bonus of 5000 $ you have to trade a total of 5000 lots so that you can pay out the bonus completely. Although this is a very high sum, in the long run, most traders manage it. The bonus can be deactivated at any time and you can even have your winnings paid off.

Facts of the bonus:

  • Up to 120% bonus of your deposit
  • You can deactivate the bonus any time
  • Withdrawal your earnings and profit
  • Bonus total = Number of required lots for the trading volume to be converted
RoboForex bonus program

RoboForex bonus program

Cashback for free:

Another great bonus is the Cashback program from RoboForex. The broker divides the revenue (over the spread) with you. You will be paid an additional fee, which depends on your trading volume. Get back up to 15% of your paid spread. The cashback is then payable at any time and applies to all types of accounts.

Get your Cashback:

  • 10 – 1000 lots = 5% Cashback
  • 1000 – 3000 lots = 10% Cashback
  • 3000 lots and more = 15% Cashback
  • Get more Cashback if you are a VIP Trader

Up to 10% additional money on your account:

Roboforex tries to protect its customers against inflation and can pay you up to 10% extra return per year. For this purpose, however, a certain volume of trade must be implemented in the account again. The additional money can be withdrawn from the account or used for further trading activities.

Get an additional yield every year (monthly credited):

  • 2,5% = trade 1 – 10 lots
  • 5% = trade 1 – 1000 lots
  • 10% = trade 1000 lots

Become a VIP Trader with RoboForex

Become a VIP and get additional bonuses from RoboForex. The VIP status depends on the amount paid into your account. After you have made a deposit you will receive an automatic email that you have joined the VIP program. The VIP customer can expect higher cashback and possibly higher returns on the account (see picture below). Also, a VIP manager will be provided for you. In addition, you can rent a VPS server cheaply to get even better access to the markets.

RoboForex VIP Status

RoboForex VIP Status

Free VPS Server

RoboForex supports trading with automated systems. VPS (Virtual Private Server), which runs 24 hours a day, is suitable for this purpose. The VPS server can be offered free of charge to the client. However, the following criteria must be met:

  • At least 300 $ capital available on the account
  • Minimum deposit 500 $
  • At least 3 transactions with 3 lots trading volume

The VPS must be requested in the customer area. However, it can also be rejected by RoboForex. It is an additional service that many traders appreciate. Thus, the fee for the server is omitted. The VPS has the following conditions:

  • Intel Xeon E5
  • 1GB Ram
  • 30GB SSD
  • Windows Server 2008 R2 64-Bit
  • RDP, VNC access

Review of the customer support and service for traders

Support is available in more than 10 languages for traders by phone, email, WhatsApp, chat, and more. It works around the clock (24/7) for RoboForex customers, as some markets are also open 24/7 (eg cryptocurrencies). Use the different contact options if you have any questions.

International support is also offered because the Roboforex Group operates through different branches in the world. You can also reach multi-language-speaking employees by telephone, who have enjoyed a good education and help you directly (We tested by ourselves). In summary, the support is very good and fast for international customers. We have noticed no negative things.

RoboForex customer support

RoboForex customer support

There is also a training center for beginners. There you can watch exact videos on the operation of the trading platforms. If you have further questions, you can join the RoboForex Forum. Exchange directly with other traders and develop common strategies. The broker also provides daily analyzes and webinars. There is a comprehensive service for traders here.

Facts of the support:

  • 24/7 support in different languages
  • Phone, Email, Chat
  • International support
  • RoboForex accept international clients (India, Africa, Asia, Indonesia, Europe, and more)
  • Webinars and VIP Managers

Our conclusion of the Review: Is RoboForex the best Forex Broker?

RoboForex gets a very good rating from us on this page. We tested the provider extensively with real money and were surprised by the good conditions.

With a large selection of products and trading platforms, the provider is well-positioned for online trading and stands out from most competitors. The trading fees are very low and you get a quick and direct execution. Also, the bonus program is highly recommended and can generate for you additional income.

In summary, we can recommend the provider, since no fraud has been noticed. Regulations, licenses, and sponsorships make the broker a trusted partner.

RoboForex is a trusted Forex Broker (Stamp)

The advantages:

  • A regulated and reliable company
  • International clients are accepted
  • High leverage is possible (1:2000)
  • A huge range of markets and assets (More than 12,000)
  • Free Demo Account
  • Start with a small amount of money
  • Bonus Programm
  • Low spreads and commission
  • Professional Support

With RoboForex you get a reliable partner for investing in any financial market. 5 out of 5 stars (5 / 5)

(Risk Warning: Your capital is at risk)