Roboforex Guide – Read our In-Depth Roboforex Review
This Roboforex review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Roboforex review does not apply to US users.
If you're a new entrant in the world of trading and brokerage, so many details will be confusing for you. Getting into the area of trading demands expert analyzing skills and thorough knowledge. You'll get adept at all of the concepts of broker since you keep trading. For starters, you have to select the ideal broker who will be clear with you always.
In this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment plan will create hefty returns. Roboforex is just one such platform which will take you and your investment to great heights. It is important to know all about Roboforex until you trust them with your cash.
Our entire Roboforex Review covers all you will need to know about trading using Roboforex. A fantastic agent can multiply your initial investments and give you positive profits. If you want to earn profits, you should trade with a broker service that aligns with your investing goals.
There is no sure-fire way to guarantee profits; therefore, you should carefully analyze your broker before you choose them. It's a frequent misconception that all brokers will be the same, but that's not correct. Wrong judgment, in the beginning, can put your investments in danger.
Roboforex is a broker which has found its way successfully into the brokerage world. In this review, we have attempted to collate a number of the important facets of Roboforex. This review will help you to know whether Roboforex is a good match for your own investments or not. We have tried to breakdown all the features and charges for your convenience.
Roboforex Review, Table Of Contents
- Who are Roboforex?
- Benefits Of Trading With Roboforex
- Everything you should know about trading with Roboforex
- Is Roboforex Safe To Trade With?
- Pro's & Con's Of Trading With Roboforex?
- Compare Brokers Similar To Roboforex
- Regulation And Licencing In More Detail
- Roboforex Awards
- Minimum Deposit Required For A Live Account With Roboforex
- Roboforex Commission And Fees Explained
- Compare broker fees against Roboforex
- Roboforex Withdrawal Fees Explained
- Roboforex Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Roboforex?
- Alternatives To Roboforex
- Frequently Asked Questions About Roboforex
Who are Roboforex?
Roboforex is a foreign exchange broker headquartered in Cyprus and provides a range of tools for trading. Since its establishment in 2009, Roboforex has emerged as a top-tier player in the field of online brokerage. Roboforex has an extremely competitive and full-featured trading site that's focused on currency, indices, metals, stocks , commodities.
Over the past 12 years, Roboforex has grown into one of the leading online brokers.
After establishing in 2009, their consumer base has become as large as 10,000+ clients.
Roboforex is a favorite of many traders.. Our Roboforex review found that they are an superb alternative for automated trading solutions. They're most appropriate for investors that are looking for a variety of assets. Social and automated trading solutions are the heart at Roboforex.
Technology plays a substantial role at Roboforex. Roboforex offers trading on MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps. Roboforex is fair, transparent, and also a well-regulated broker by the Cyprus Securities and Exchange Commission (CySEC). Their outstanding variety of resources will be beneficial for the majority of traders. Third-party partnerships also provide in-house analysis.
The educational department at Roboforex is quite enlightening for new dealers as it permits them to have a closer look at the financial markets. Roboforex caters to all sorts of traders and are a must-have broker for almost any well-diversified approach to online trading.
If you feel that Roboforex is not right for you then at the bottom of this Roboforex review you wil find a lot of alternatives to Roboforex.
What you ought to know about trading with Roboforex
Roboforex is a dynamic platform that offers various procedures of online trading. These instruments cover the financial markets considerably. The Majority of the broker platforms provide fewer approaches than Roboforex
If you wish to exchange with Roboforex, you will need a minimum deposit of $1. This deposit is required if you would like to start trading using Roboforex. This 2021 Roboforex review will guide you clearly about trading with them.
Roboforex is as flexible as any other broker platform. Roboforex is excellent for traders who want a manageable variety of cheap services. The programs supplied by Roboforex are third-party, white-label offerings. All traders may pick from MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps.
Along with everything, Roboforex has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a transaction must be kept open. The brokers provide premium client service that rewards customers with benefits.
Many less reputable brokers try to pressurise customers into bigger funding for premium services. Roboforex, on the other hand, is more concentrated on trading volume. Dealers can expect trading conditions to be just, honest and transparent. The more lots traded by the user, the further advantages will come along.
Roboforex accounts are available all over the world and provides excellent service wherever they have customers. There are a few countries where Roboforex accounts are not available. Traders in the following countries cannot open or use a Roboforex account:
Is Roboforex Safe To Trade With?
Established in 2006, Roboforex has been in operation for 12 years, they are headquarted in Cyprus.
Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC). These figures have rules that make sure that trading platforms have measures in place to keep investor's resources procured. This means that Roboforex users don't need to be worried about their money since it's segregated and safely stored in established banks. SSL encryption simplifies each user's personal information also.
You are able to make use of a choice for 2 Factor Authentications (2FA) with Roboforex for increased safety. An SMS with the verification code will be sent to a phone. You will be asked to input this code to log into your account.
Another concern with financial brokers with regards to security might be manipulation of trading. This is highly disadvantageous for consumers on those platforms. However, this is much more prevalent in the case of Market Maker brokers who compete with users on the stage.
Pro's & Con's Of Trading With Roboforex
Every online trading platform will have a few pros and cons Roboforex review would be complete without having a balanced approach. This Roboforex review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- Roboforex is trusted by 10,000+ clients
- Roboforex doesn't charge inactivity fees
- Roboforex doesn't charge deposit fees
- Roboforex doesn't charge CFD fees
- Roboforex offer trading on MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps
- Roboforex offer 100 trading instruments
- Roboforex trades major forex pairs
- Roboforex trades minor forex pairs
- Roboforex trades exotic forex pairs
- Roboforex can communicate in English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian
- Roboforex does not offer Negative Balance Protection
- Roboforex does not offer Guaranteed Stop Loss
- Roboforex charge withdrawal fees
- Roboforex doesn't offer trading on cryptocurrencies
Roboforex Review - Compare Brokers Similar To Roboforex
|Regulated By||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA)||Unregulated||Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Losses can exceed deposits|
Roboforex Review - Regulation And Licencing In More Detail
Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC).
Roboforex, as a company, has a strong collection of rules for ensuring fair trading on its platform. For information encryption purposes, it provides an industry-standard secure socket layer (SSL).
In accordance with the company's privacy regulations, client data is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Roboforex Review - Awards
- At the time of writing this Roboforex review, they had not received any awards.
Roboforex Review - Minimum Deposit Required
The minimum deposit that you need to get started on Roboforex is $1. This is an adequate amount for those just beginning. You can create more advanced residue as you cooperate. However, ensure that you understand how to make the most of your money before investing larger sums.
Roboforex Review - Commission And Fees Explained
Roboforex is an online brokerage platform, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled much better. That is, an internet broker is not necessarily influenced by the amount of customers they have.
However, this doesn't necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are mainly three different types of fees for this objective.
The first sort of fees to keep an eye out for are trading charges. When you make an actual trade, like purchasing a stock or an ETF, you are billed trading charges. In such instances, you're paying a spread, financing rate, or a commission. The sorts of trading charges and the rates vary from broker to broker.
Commissions can be fixed or determined by the traded quantity. On the flip side, a spread refers to the gap between the buying and selling price. Funding or overnight rates are those that are charged when you hold a leveraged position for more than daily.
Apart from trading charges, online brokers also charge non-trading fees. These are dependent on the activities you undertake in your accounts. They are charged for operations like depositing cash, not trading for lengthy periods, or withdrawals.
Generally, Roboforex doesn't charge high fees in comparison to other online agents. For operations other brokers charge for, they either do not charge a broker fee, or they charge a lesser amount. This is beneficial for people who often exchange, for example daily or weekly trading.
However, non-trading fees charged by Roboforex are comparatively competitive. Consequently, you are charged more for non-trading activities on your trading account, such as deposits and withdrawal. These are not related to the purchase and sale of resources.
This Roboforex review breaks down every one of the applicable non-trading charges for you in detail.
Compare broker fees against Roboforex
Roboforex Review - Withdrawal Fees Explained
Roboforex charges a withdrawal fee when you make a bank transfer. Every time you transfer money back into your bank account, these withdrawal charges become important.
Withdrawal of cash is possible at any moment from the Roboforex account. You can draw sums up to the sum of your account balance, keeping aside the perimeter used. One thing to remember is that you don't necessarily need to have any cash in your accounts.
In addition, the withdrawn money will be transferred directly to the account you use to make deposits. Thus, if you used a credit card for deposits, the withdrawn money will be sent into the card. Roboforex will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing money in different currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're opting to withdraw in.
Roboforex Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions that run through your mind while open an account with Roboforex. An inactivity fee is an amount charged to registered traders that haven't engaged in buying or selling for a while. The period considered inactive is determined by the agent.
The inactivity fee differs from 1 broker to another and is not generalized. If a dealers account does not have a buying or selling trade, it's maintained by the broker as an inactivity fee. The traders need to pay this fee under conditions and terms they had consented while enrolling.
Roboforex doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges have been implied by Roboforex, it's better that you close the account if you are inactive. Inactivity fees are not just charged by brokerage firms but also many financial services.
For other trading platforms, the inactivity fee depends upon the type of account you've selected. The inactivity fee is exposed to a lot of circumstances and should be disclosed clearly by the broker beforehand.
Roboforex Review - Deposit Fees Explained
When you move money into your trading account from your bank account, a deposit fee can be billed by the broker. Most agents don't charge an excessive amount of money for this operation.
Roboforex doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the Roboforex trading platform is simple. You simply have to finish a single-user profile questionnaire to begin depositing money into your trading account. You will need to give an identity evidence and evidence of residency to deposit large amounts.
Roboforex Review - Compare Broker Deposit Methods
What Can You trade With Roboforex?
Note: Roboforex offers a lot of different trading instruments due to regulatory restrictions in many countries. Trading instruments offered can differ based on the country of residence of the client.
Roboforex has a wide variety of over 100 instruments available for you to trade with.
If trading currency pairs is of interest to you then Roboforex offer over 35 forex pairs.
Compare Roboforex, Westpac, Choicetrade & FP Markets below.
Alternatives To Roboforex
If, after reading this Roboforex review, Roboforex doesn't fulfill your requirements check out these Roboforex alternatives.
We've scoured the web to find the best alternatives to Roboforex. Click on the hyperlinks below to find out more.
Frequently Asked Questions about Roboforex
Can I try Roboforex before I buy?
Yes, you can most definitely try Roboforex before you buy. Roboforex offers demo accounts for the convenience of inexperienced traders. You may use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you register to get a demo account on Roboforex, you may set out with a decent amount of virtual money. It's to establish a feeling of safety and confidence in you before you decide to invest your own money.
With this digital Roboforexdemo account, you can experiment in any way, to whatever length you desire. You might even start positions, test different trading strategies, and more.
Roboforex specifies on its official site that you can exchange real time stocks in a demo account.
Is Roboforex safe?
You can drop all of your worries since we believe that Roboforex is totally safe to use. It's in compliance with the rules of Cyprus Securities and Exchange Commission (CySEC).
Even so, Roboforex does not provide assured stop-loss protection.
Why does Roboforex ask for my passport?
The reason that Roboforex asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Roboforex has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Roboforex must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Roboforex?
The process to start trading withRoboforex is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Roboforex website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Roboforex is $1. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Roboforex.
The best way to kickstart your trading career with Roboforex is to open a demo account facility before risking any real money
What funding methods do Roboforex accept?
There are a number of methods to fund your account with Roboforex. The process is effortless and quick, with various payment methods at your fingertips.
You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You have to bear in mind that PayPal is not available in all place. The monies Roboforex
Is my money safe with Roboforex?
Yes, your money is safe and secure with Roboforex. As you already know, Roboforex works with proper conformation to. It's established plenty of measures to protect all of its own investors.
Roboforex protects its clients' personal and sensitive information under SSL encryption. Your funds will be retained highly secure in top-tier banks.
If you want to further protect your account, you can enable Two-Step Verification as well. It takes an SMS confirmation for you to get your account.
Is Roboforex trading good?
Yes, trading via Roboforex is a pleasant and decent experience indeed. It is a great and intuitive platform with useful features for your simplicity. Moreover, you could even gain access to a huge selection of educational tools and assistive material to kickstart your trading experience.
If you remain skeptical, you can open a eToro demo account and evaluate the trustworthiness of the platform on your own.
Which Countries does Roboforex support?
Roboforex operates around the world. However, due to regulations there are some countries that Roboforex cannot accept clients resident in US, JP
Is Roboforex legit?
Roboforex is a legit company headquarted in Cyprus since 2009. They are regulated by Cyprus Securities and Exchange Commission (CySEC). Roboforex is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Roboforex a good broker?
Roboforex is a great broker, and its own users can vouch for this. The highlight of this platform is its quick order execution on trades.
You'll discover the clean layout of the platform and the admirable features a pleasure to work with.
Is Roboforex a trustworthy broker?
Yes, Roboforex is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Roboforex?
The minimum deposit to open a live account with Roboforex is $1
How long do Roboforex withdrawals take?
Normally, withdrawal of money from Roboforex is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Roboforex to show in your bank account.
Are Roboforex regulated?
Roboforex are regulated by Cyprus Securities and Exchange Commission (CySEC)
Is Roboforex a market leading broker?
Roboforex is indisputably one of the industry leaders. It has over 10,000+ registered users and over 12 years of expertise on its own record. They are one of the world's top trading platforms and also a prominent figure in the Fintech revolution.
It majorly owes this standing to its incredible platform and wide selection of tools plus resources so that you may put money into capital markets.
Is Roboforex a con?
No, Roboforex is not a con. They are regulated by Cyprus Securities and Exchange Commission (CySEC) and must adhere to their rules. Thus, it is safe to say that Roboforex is not a scam.
Can you make money with Roboforex?
Using Roboforex, many traders earn a great deal of cash. However, typically, through consistent trading, you also can make between 2% - 10% profit a month.
This may seem like a little number, but within the entire year, this adds to a significant amount of gains. Even though Roboforex provide you all of the tools to make money, they cannot guarantee you will gain.
Does Roboforex have fees?
Yes. To start trading using Roboforex, you need to deposit $1. Particular commissions while trading also applies. Any processing fees from your bank will have to be incurred by you.
When was Roboforex founded?
Roboforex was founded in 2009 in Cyprus. Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC).
How many people use Roboforex?
Roboforex is a globally recognised broker with 10,000+ customers.
Where is the Roboforex head office?
Roboforex has its head office in Cyprus
Does Roboforex offer negative balance protection?
No. Roboforex does not offer negative balance protection. If your balance is negative, Roboforex indicates that you contact client services. For this, you can fix any imbalances within your own account.
Does Roboforex offer guaranteed stop loss?Roboforex unfortunately, doesn't offer guaranteed stop loss. Roboforex provides an opportunity to its dealers to close their trades in their given price. Aside from that, Roboforex doesn't offer guaranteed stop loss.
Does Roboforex allow scalping?Yes, Roboforex do permit scalping. Several traders across the world select Roboforex for their scalping services. They offer trading on MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps which let this.
Does Roboforex allow hedging?
Yes, Roboforex does allow hedging.
Can you trade energies with Roboforex?
No, unfortunately you cannot trade energy stock with Roboforex
Can you trade agricultural shares with Roboforex?
No, unfortunately you cannot trade agricultural stock with Roboforex
Can you trade cryptocurrency with Roboforex?
No, unfortunately you cannot trade cryptocurrency with Roboforex
Can you trade metals with Roboforex?
Yes, you can trade metals with Roboforex
Can you trade UK Shares with Roboforex?
No, unfortunately you cannot trade UK shares with Roboforex
Can you trade US Shares with Roboforex?
No, unfortunately you cannot trade US shares with Roboforex
Can you trade Japanese Shares with Roboforex?
No, unfortunately you cannot trade Japanese shares with Roboforex
Can you trade German Shares with Roboforex?
No, unfortunately you cannot trade German shares with Roboforex
Does Roboforex accept bank transfers?
Yes, Roboforex accepts bank transfers for depositing money.
Does Roboforex accept credit cards?
Yes, Roboforex accepts credit cards for depositing money.
Does Roboforex accept PayPal?
No, Roboforex does not accept PayPal.
Does Roboforex accept Skrill?
No, Roboforex does not accept Skrill.
Does Roboforex accept Payoneer?
Yes, Roboforex accepts Payoneer for depositing money.
Does Roboforex accept Neteller?
Yes, Roboforex accepts Neteller for depositing money.
Does Roboforex offer Live Chat customer support?
Yes, Roboforex offers customer support through live chat.
Does Roboforex offer phone customer support?
Yes, Roboforex offers customer support over the telephone.
Does Roboforex offer email customer support?
Yes, Roboforex offers customer support through email.
What languages can Roboforex communicate in?
Roboforex has the ability to communicate and support customers who speak: English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian
Does Roboforex have a wikipedia page?
No, Roboforex does not have an official wikipedia page.
Does Roboforex offer demo accounts?
Yes, Roboforex offers demo accounts so you can learn their systems before risking any real money.