Supported Countries
RoboForex (also RoboFX) accepts traders worldwide, including Argentina, Belarus, Brazil, Colombia, France, Germany, Hong Kong, Italy, Kazakhstan, Mexico, Nigeria, Russian Federation, Thailand, Ukraine, United Arab Emirates, the United Kingdom, and Vietnam. The broker also offers support in fifteen languages so clients from the supported countries can communicate clearly with the support team.
However, their services are restricted in the United States due to the country’s restrictions. Therefore, United States residents can’t trade assets on Roboforex. The broker is also restricted in some countries, including South Africa, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan.
Note: You should confirm that RoboForex’s services are available for traders in your country of residence. If they accept clients from your home country, you can check out their services even if they lack regulation in your home country, provided they are regulated in an alternate jurisdiction that is deemed acceptable.
RoboForex Trading Platforms
RoboForex supports multiple trading platforms. Each platform can be installed on an iOS or Android device or computer.
MetaTrader 4: This classic trading platform is available for Android devices, PC (windows) downloads, and web browser applications. The MetaTrader 4 MultiTerminal is also available as a PC Windows download.
MetaTrader 5: The MetaTrader 5 software is the advanced version of the MetaTrader 4 and offers advanced trading tools. It is available for Android and Windows PC and as a web browser application.
R WebTrader: This is a proprietary web trading platform designed by RoboForex for trading on MT4 accounts. It offers fast switching between accounts, analytics tools, and market news. It is also available on iOS and Android as the R MobileTrader.
Type of Trading Accounts on RoboForex
RoboForex offers five types of accounts: Prime, ECN, R StocksTrader, ProCent, and Pro. These five types offer both demo trading and real trading. Real trading is for traders who want to start trading immediately with real money. The demo trading is for beginners and traders who want to experiment with new trading strategies. Trading is open 24 hours a day from 12:00:01 AM (Eastern European Time) Monday to 11:58:59 PM Eastern European Time) Friday.
Prime: The prime trading account is ideal for beginners and experienced traders. It offers trading instruments in 28 currency pairs, metals, CFDs on US stocks, indices and oil. The minimum deposit is 10 USD/10 EUR and a floating spread starting from 0 pips. The account provides a commission for a trading volume of 1 million USD and offers maximum leverage of 1:300
ECN: The ECN trading account is ideal for experienced traders who want competitive trading conditions and high trading execution speed. It offers trading instruments in 36 currency pairs and metals. The minimum deposit is 10 USD/10 EUR and a floating spread starting from 0 pips. The account provides a commission for a trading volume of 1 million USD and offers a maximum leverage of 1:500
R StocksTrader: The R StocksTrader is a trading account type only accessible via the R WebTrader and R MobileTrader. It offers over 12,000 trading instruments in forex, indices, stocks, CFDs, EFTs and metals. It is ideal for traders using automated (algorithmic) trading strategies. The minimum deposit is 100 USD, and a spread starts from 0.01 USD. The account offers maximum leverage of 1:300.
ProCent: The ProCent trading account is for beginners transitioning from demo account trading to real trading with small sums of money. It offers trading instruments in 36 currency pairs and metals. The minimum deposit is 10 USD/10 EUR, and a floating spread starts from 1.3 pips. The account offers maximum leverage of 1:2000.
Pro: The Pro trading account is the perfect choice for beginners. It allows them to trade on a wide range of assets. It offers trading instruments in 28 currency pairs, metals, CFDs on US stocks, indices and oil. The minimum deposit is 10 USD/10 EUR, and a floating spread starts from 1.3 pips. The account offers maximum leverage of 1:2000.
Trading Denominations
There are only two different trading base currencies available to traders using the Roboforex platform - EUR and USD.
Company Structure
Roboforex began operations in 2009 as a New Zealand-based company, then moved to Belize in 2014. From its inception, the broker has focused on providing the best trading experience to beginners and experienced traders alike. The broker is currently ranked as the leading broker in the world.
RoboForex License and Regulatory Compliance
RoboForex, unlike many popular international brokers, comply with only one regulatory body. While other RoboForex reviews suggest that CySEC regulates the broker, only one regulator is named on the broker’s website. Here is what we know about RoboForex’s singular regulator:
FSC: RoboForex Ltd is a financial brokerage company regulated by the Belize FSC. RoboForex Ltd is registered by the Financial Services Commission under the Securities Industry Act 2021.
Customer Support
All clients get 24/7 customer support via email, live chat, and phone. The support is available in over fifteen languages, including Spanish, Arabic, German, Japanese, Portuguese, Chinese, Russian, Malay Thai, Asian, Polish, and English. There is also an FAQ section that answers most beginner questions.
Asides from its physical office address at 2118 Guava Street, Belama Phase 1, Belize City, Belize, traders can access the broker’s website www.roboforex.com, email at [email protected], or the company’s phone no - +593 964 256 286. A swift and responsive customer support representative is also available via live chat on the broker’s website.
Customer Protection
As expected of one of the world's most popular brokers, Roboforex has gone the extra mile to protect its clients' investments and funds. The broker's safety measures include:
AML: RoboForex complies with the international AML (Anti-money laundering) policy as regulated by the Financial Services Commission
Compensation Fund: The compensation fund offers up to €20,000 per case for traders when a participant doesn't comply with a judgment in favor of the trader from the Financial Services Commission. The fund is funded by monthly fees paid by participants of the FSC.
Civil Liability insurance program: The broker also provides insurance protection for a limit of 2,500,000 EUR for events that may lead to clients' financial losses.
VMT: RoboForex has a Verify My Trade (VMT) certificate that confirms its compliance with the strict requirements of the Financial Services Commission. Brokerers with the VMT certificate must regularly submit their trading records to prove their compliance with the requirements of the Financial Commission.
Trading Information
RoboForex offers many robust features to ensure traders have everything they need for a smooth trading experience. For instance, they allow automated (algorithmic) trading strategies via their R StocksTrader platform. They also allow hedging so traders can insure against potential loss. However, they do not have mandatory stop-loss and take-profit requirements. More details are discussed in the following sections.
Tradable Assets
Clients can trade thousands of instruments from a range of 8 trading assets. RoboForex trading assets are:
Forex: Forex accounts for much of the trading volumes on RoboForex. Over 40 currency pairs are available on the platform, including EURUSD, USDJPY, GBPUSD, and EURGBP. The market is open 24/5 days a week and has a daily turnover of $5 trillion. They also offer spot and CFDs forex trading.
Stocks: RoboForex allows traders to invest in over 12,000 trading instruments on the stocks of the largest companies in the world, including the USA. Popular company stocks include Netflix, Facebook, Siemens, Google, and Amazon. However, the broker does not offer its services to USA residents. They offer real stock investment instruments and stock CFDs.
Indices: Investors looking to profit from the overall price movement in stocks or bonds can invest in indices on the RoboForex under exclusive conditions.
ETF: ETFs are great for traders and investors looking to diversify their portfolios with minimal cost. There are over 1,000 ETFs available for trading on RoboForex.
Commodities: Clients can trade RoboForex soft commodities via the R StocksTrader. RoboForex offers more than 100 commodities ETFs.
Metals: Investors looking to hedge their funds from inflation can invest in over 20 trading instruments on metals such as Gold, Silver, Platinum, Copper, Nickel, and Palladium.
Energy commodities: Financial instruments within the energy commodities asset class, such as natural gas and oil, are available via ETFs and CFDs trading. Traders can access these instruments via MetaTrader 4 and R StocksTrader platforms.
Leverage
Users can get a maximum credit leverage of 1:2000 in both the Pro-Cent Account and the Pro-Traditional Account. However, for traders utilizing the ECN account, the maximum leverage is 1:300. Please note that this leveraged offering is exclusively available to Prime and R Trader account holders.
Deposits and Withdrawal Channels and Requirements
Deposits
Here is an overview of the deposit process on Roboforex.
Payment System | Processing Time | Minimum Deposit | Maximum Deposit |
Bank Transfer (SEPA) | up to 3 days | 500 EUR | 100,000 EUR |
Local Bank Transfer | up to 1 day | - | 15,000 USD |
AstroPay | up to 1 day | 10 USD | 10,000 USD |
Skrill | up to 1 day | 10 USD | 25,000 USD |
Neteller | up to 1 day | - | up to 50,000 USD |
Perfect Money | up to 1 day | 5 USD | 25,000 USD |
AdvCash | up to 1 day | 10 USD | 49,999 USD |
VISA/MasterCard/JCB/CUP | up to 1 day | from 10 USD | - |
QR & Vouchers | up to 1 day | 10 USD | 500 USD |
Western Union | up to 1 day | 10 USD | 500 USD |
Withdrawals
Here is an overview of the withdrawal process on Roboforex.
Payment System | Processing Time | Minimum Withdrawal | Maximum Withdrawal |
Bank Transfer (SEPA) | up to 3 days | 500 EUR | 49,990 EUR |
Local Bank Transfer | up to 1 day | - | up to 20,000 USD |
AstroPay | up to 1 day | 10 | 10,000 USD |
Skrill | up to 1 day | 1 | 100,000 USD |
Neteller | up to 1 day | 5 | 100,000 USD |
Perfect Money | up to 1 day | from 0.1 USD | - |
AdvCash | up to 1 day | 0.1 | 49,999 USD |
VISA/MasterCard/JCB/CUP | up to 10 days | 10 | 10,000 USD |
FAQ
How do I open a trading account on RoboForex?
Before opening a trading account, you must select a trading terminal. A trading terminal is a platform or software that allows you to access financial instruments and make trades.
The most popular option is MetaTrader4 (MT4). It is a user-friendly desktop, mobile, and web-based platform. Other options include MetaTrader5 (MT5), an advanced version of MT4, and R StocksTrader, a RoboForex proprietary trading platform.
What account type should a RoboForex beginner choose?
We recommend the Pro account for beginners. It offers various instruments, loyalty and deposit bonuses, and a $10 minimum deposit. However, beginners with low capital will get more value from the ProCent account.
Which account type should an experienced RoboForex trader use?
Advanced traders should use either the Prime or ECN trading accounts. The ECN trading account offers more trading instruments and greater leverage than the Prime trading account.
What currency to choose for opening a RoboForex trading account?
This RoboForex review recommends you use USD or EUR. After gaining trading experience, you can explore other currency options as your base currency.
