| Broker Details | RoboForex |
|---|---|
| Founded Year | 2009 |
| Minimum Deposit | $10 |
| Maximum Leverage | 2000:1 * |
| Address | 2118 Guava Street, Belama Phase 1, Belize City, Belize |
| Contact | info@roboforex.com, +593 964 256 286 |
| Customer Support | Live Chat, Email, and Phone |
| Regulators | FSC |
| Prohibited Countries | United States, Canada, Japan, Australia, Russia, Iran,Turkey, Indonesia, Brazil, Ukraine, Belarus, Sudan, Syria, North Korea, Liberia, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, Guinea-Bissau, East Timor, Curaçao, Bonaire, Sint Eustatius, Tahiti, Saipan |
| Trading Platforms | MT4, MT5, WebTrader, MobileTrader (MobileApp), R Stocks Trader |
| Dealing Desk | ✅ Yes |
| ECN | ✅ Yes |
| Margin Call / Stop Out: | 40% / 10% – 60% / 40% |
| Web Trading | ✅ Yes |
| Mobile Trading | ✅ Yes |
| Currencies | (30+) |
| Cryptocurrencies | |
| CFD | (60+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities |
| EAs/Robots | ✅ Yes |
| News Trading | ✅ Yes |
| Scalping | ✅ Yes |
| Copy Trading | ✅ Yes |
| Deposit Methods | VISA, MasterCard, AdvCash, Apple Pay, AstroPay, Boleto, EPS, Giropay, GPay, iDEAL, JCB, Local Bank Transfers, Neteller, PerfectMoney, PSE, QR Payment, SafetyPay, Skrill, SOFORT, Western Union |
| Withdrawal Methods | VISA, MasterCard, AdvCash, Apple Pay, AstroPay, Boleto, EPS, Giropay, GPay, iDEAL, JCB, Local Bank Transfers, Neteller, PerfectMoney, PSE, QR Payment, SafetyPay, Skrill, SOFORT, Western Union |
Pros
- Low minimum deposit of $10
- Access to over 12,000 trading instruments
- Offers its own trading platform
- No fees for deposits and withdrawals
- Free demo account available
Cons
- Cryptocurrency trading not offered
- Spreads can be higher than some competitors
From MetaTrader to R StocksTrader: Elevate Your Trading Game with RoboForex
When it comes to online trading, the broker you choose can make or break your experience. Today, we’re diving deep into RoboForex, one of the popular brokers in the market. So, is RoboForex worth your time and money? Let’s break it down together.
What is RoboForex?
RoboForex is an online trading platform that’s been around since 2009. With its headquarters in Belize, it’s a global broker offering access to a variety of financial markets. It caters to traders of all levels, from beginners to pros.
Key Features of RoboForex
1. Diverse Trading Instruments
RoboForex offers over 12,000 trading instruments. Whether you’re into forex, stocks, indices, or commodities, you’ve got plenty of options here. It’s like a buffet for traders!
2. Proprietary Trading Platform
Not only does it support popular platforms like MetaTrader 4 and MetaTrader 5, but it also offers its own platform, R StocksTrader. This gives traders a unique toolset tailored to RoboForex’s ecosystem.
3. Low Minimum Deposit
One of its standout features is the $10 minimum deposit. Let’s be honest, not many brokers are this accommodating for traders with small budgets.
4. Free Demo Account
For those who want to dip their toes before diving in, the free demo account is a blessing. It’s an excellent way to practice without risking real money.
Account Types at RoboForex
RoboForex offers several account types to cater to different trading needs:
1. Pro Standard Account
Ideal for beginners, this account offers no commission and competitive spreads.
2. ECN Account
For advanced traders, the ECN account provides tighter spreads but involves a commission.
3. Prime Account
Combines the best features of Pro and ECN accounts, designed for professionals.
4. R StocksTrader Account
Perfect for those focusing on stocks and indices.
Trading Platforms
1. MetaTrader 4 (MT4)
A classic and reliable platform, MT4 is perfect for forex traders.
2. MetaTrader 5 (MT5)
An upgraded version of MT4, offering additional features for more complex trading strategies.
3. R StocksTrader
RoboForex’s proprietary platform stands out with its intuitive interface and advanced tools.
Deposit and Withdrawal Methods
RoboForex supports various payment methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. Best of all, there are no fees for deposits or withdrawals.
Regulation and Security
RoboForex is regulated by the International Financial Services Commission (IFSC) of Belize. While it’s not the strictest regulatory body, RoboForex takes client security seriously, offering negative balance protection and segregated accounts.
Customer Support
Their customer support is available 24/7 via live chat, email, and phone. The responses are generally quick, though the quality can vary.
Education and Tools
RoboForex provides a range of educational materials like tutorials, webinars, and analysis tools. It’s a good place to learn if you’re starting out.
Who Should Use RoboForex?
RoboForex is best suited for beginner and intermediate traders looking for a cost-effective broker with diverse trading options. However, crypto traders might want to look elsewhere.
Prohibited Countries
RoboForex does not accept clients from countries like the USA, Canada, Japan, and Australia due to regulatory restrictions. Make sure you’re eligible before signing up.
The Downside of Higher Spreads
Let’s talk about the elephant in the room: the spreads. While RoboForex’s spreads are manageable, they’re higher than some competitors, which can eat into your profits over time.
Bonuses and Promotions
RoboForex often runs bonus programs, like deposit bonuses and cashback offers. These can be great for boosting your trading capital.
Summary
RoboForex is a solid choice for traders looking for a broker with diverse options, low entry barriers, and a user-friendly experience. While it’s not perfect—high spreads and no crypto trading can be deal-breakers for some—it’s a reliable platform for most traders. If you’re willing to work around its limitations, RoboForex might just be the partner you need for your trading journey.
Low deposit requirement makes trading accessible for all levels.