| Founded: | Account Currencies |
| 2009 | USD and EUR. |
| Trading Instruments: | Trading Platforms: |
| Stocks, Indices, ETF, Metals, Energy commodities, Commodities, Currencies | MetaTrader 4, MetaTrader 5, R StocksTrader |
| Funding Methods: | Regulation |
| Bank Cards, Electronic Wallets, Bank Transfers | FSC (Belize) |
| Max Leverage: | Min Deposit: |
| 1:2000 | $10 |
Pros and Cons
| Pros | Cons |
| Low minimum deposit ($10) | Offshore regulation |
| Wide range of instruments | Withdrawal fees apply |
| Supports MT4, MT5, cTrader | Not available in some countries |
| Multiple account types | Mixed user reviews |
| Copy trading available | Limited investor protection |
Trust and Safety
RoboForex has been operating since 2009 and is regulated by the Financial Services Commission (FSC) of Belize under licence 000138/210. The broker is therefore regulated, but its regulatory protection is not comparable to brokers supervised by major Tier-1 regulators such as the FCA in the UK or ASIC in Australia.
The Belize FSC framework allows RoboForex to provide relatively high leverage, including leverage of up to 1:2000 on eligible Pro and ProCent accounts. Traders need to note that high leverage will expose them to high risk.
Additionally, RoboForex is a member of The Financial Commission, which offers dispute resolution services as well as compensation of up to €20,000 per claim from a verified client, depending on the conditions set out by the organization.
overall, RoboForex can be a good choice for those who understand the risks involved with offshore regulation, while others who value robust Tier-1 regulation will prefer another broker.
The Prime account is particularly attractive for traders looking for raw spreads because it offers the same starting spread as ECN but with a lower commission.
RoboForex also offers swap-free/Islamic account options across its account types, subject to the broker’s applicable conditions.
Account Types
| Account | Spread | Commission | Minimum Deposit |
|---|---|---|---|
| Pro | From 1.3 pips | No commission | $10 |
| ProCent | From 1.3 pips | No commission | $10 |
| ECN | From 0.0 pips | $2/lot/side | $10 |
| Prime | From 0.0 pips | $1/lot/side | $10 |
| R StocksTrader | From $0.02 | Depends on instrument | $100 |
MINI Account
RoboForex does not list a separate account officially named “MINI Account” in the information provided. For traders looking for a small-deposit or beginner-friendly account, the closest option is the ProCent account. Minimum Deposit of this account is just $10 and it does not require any additional commission on trades. In this case, commission is built into the spread. The ProCent account may be helpful for those traders who wish to open their account with smaller investment or experiment with their trading strategy with less money involved. But at the same time, spread of around 1.3 pips is higher than spreads of Prime and ECN accounts.
Commissions and Fees
RoboForex’s trading costs depend on the account type.
ECN and Prime Accounts both accounts offer raw spreads starting from 0.0 pips.
- Prime: $1 per standard lot per side, or $2 round trip
- ECN: $2 per standard lot per side, or $4 round trip
For example, if you trade one standard lot and open and close the position, the commission would be approximately $2 on Prime and $4 on ECN, excluding the spread.
Trading Platforms
The following are some of the trading platforms that RoboForex uses:
MetaTrader 4 (MT4)
This is one of the most popular trading platforms. It provides various features such as advanced charting, technical indicators, expert advisors (EAs), different types of orders among others in both desktop and mobile trading platforms.
MetaTrader 5 (MT5)
This trading platform has more advanced features compared to the previous one (MT4). Some of the advanced features include more indicators, analysis, time frames and orders. It is a good choice for traders who require advanced charting and trading facilities.
R StocksTrader
R StocksTrader is RoboForex’s proprietary multi-asset platform. It provides access to more than 12,000 instruments, including stocks, ETFs, indices, metals and other markets. The platform also includes automated strategy-building tools, templates and backtesting features.
RoboForex Mobile App
The RoboForex mobile application allows traders to monitor markets, manage positions and access trading accounts from Android and iOS devices. Overall, RoboForex offers a good selection of platforms, although its proprietary tools do not necessarily provide the same level of ecosystem and third-party support as MetaTrader.
Customer Support
RoboForex provides customer support through several channels, including:
- Live Chat
- Phone support
The broker advertises 24/5 customer support, primarily covering the trading week. Support is available in multiple languages, including English, German, Spanish, Chinese, Czech and Thai, according to the supplied review. However, the reviewer’s testing found that response times could sometimes be slow and that some responses were relatively generic. This is one of the weaker areas of the broker’s overall service.
Account Opening
Opening a RoboForex account is fairly easy. The basic things that traders need to do include:
- Registration at the RoboForex website.
- Inputting their name and details.
- Filling in their email address and phone number.
- Completing the verification process.
- Uploading their identification and address proof documents.
- Selection of their preferred account and making deposits.
Some of the basic documents that can be used for the purpose of verification include the passport and utility bills. The minimum deposit is $10 for Pro, ProCent, ECN and Prime accounts, while the R StocksTrader account requires $100.
Deposits and Withdrawals
RoboForex supports a wide selection of funding methods, giving traders several ways to deposit and withdraw funds.
Available methods mentioned in the supplied information include:
- Bank Transfer
- Visa/Mastercard
- Skrill
- Neteller
- STICPAY
- UnionPay
- AstroPay
- Perfect Money
- QR & Vouchers
- Other regional payment methods
Deposits
Deposits are generally advertised as fee-free from RoboForex, although payment providers or banks may charge their own fees.
Withdrawals
Withdrawal fees depend on the payment method. Examples from the supplied review include:
- Skrill: around 1%
- Neteller: around 1.9%
- STICPAY: around 2.3–2.5% plus a fixed fee
- UnionPay: around 0.8%
- Bank transfer: up to around 4%
- Visa/Mastercard: fees may apply depending on the transaction
Actual fees can vary by country, payment provider and account conditions, so traders should check the applicable fee schedule before making a withdrawal. Overall, RoboForex offers a broad selection of funding methods, but withdrawal costs can vary considerably.
Final Thoughts
RoboForex provides a combination of low raw spreads, high leverage, various account types and numerous trading platforms. The Prime and ECN accounts can be especially appealing to forex traders who value low spreads and execution rates.
Additionally, the broker distinguishes itself through the low $10 minimum deposit amount and R StocksTrader trading platform offering access to a variety of stocks, ETFs and other financial products.
Nevertheless, the biggest issue related to RoboForex is the protection of clients’ funds due to regulation by the Belize FSC, rather than major Tier-1 financial authorities like the FCA or ASIC. Besides, customer service and educational materials also receive lower ratings.
On the whole, RoboForex review can be a good choice for skilled traders valuing high leverage and low trading costs; nevertheless, beginning traders or those placing an emphasis on strong client protection should compare the broker with companies regulated in leading financial jurisdictions.
