RoboForex Alternatives - Better Forex Brokers for 2024
Find out the major disadvantages of RoboForex Forex Brokers and alternatives with lower fees and more security. Unbiased RoboForex Alternatives reviews.
So which brokers are better than RoboForex? Want to jump straight to the answer? OspreyFX is the best alternative broker to RoboForex in 2024 .

3.3 / 5

Rating breakdown

Security
40%
2.0/5
Ease of Use
60%
3.0/5
Tradable Assets
60%
3.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
60%
3.0/5

Things we didn't like:

 A small number of currency pairs
 No demo account unless you’ve already opened a live trading account

Why would you want an alternative to ROBOFOREX?

You might consider looking for an alternative to RoboForex due to several notable drawbacks. RoboForex offers few educational resources, such as articles or videos, which can be a significant disadvantage for beginners who need comprehensive learning materials to improve their trading skills. The broker also provides little to no research content, limiting the insights and analyses available to traders. The requirement to open a live trading account before accessing a demo account can be a barrier for those who want to test the platform risk-free first. Additionally, average spreads are higher on RoboForex’s Procent and Pro accounts, making it a more expensive option compared to other brokers. The fact that RoboForex is no longer regulated by the FCA in the UK as of April 2024 raises concerns about regulatory oversight and security. Moreover, the broker’s blog and YouTube channel content are outdated, which may indicate a lack of ongoing support and updates for clients.

What to look for in a ROBOFOREX Alternative?

When seeking an alternative to RoboForex, prioritize brokers that offer extensive educational resources, including up-to-date articles, videos, and webinars, to support your learning and development. Look for brokers that provide comprehensive research content to help you make informed trading decisions. Ensure the broker allows you to open a demo account without needing to open a live trading account first, enabling you to test the platform risk-free. Competitive pricing is crucial, so seek brokers with lower average spreads to reduce your trading costs. It's essential to choose a broker with strong regulatory oversight, preferably regulated by reputable authorities like the FCA, to ensure the security and trustworthiness of your trading environment. Finally, opt for brokers that maintain active and current content on their blogs and YouTube channels, indicating a commitment to providing ongoing support and updates for their clients. By focusing on these aspects, you can find a broker that better meets your trading needs and offers a more supportive and cost-effective trading experience.

Best ROBOFOREX alternatives – forex brokers like (or better than) ROBOFOREX

Best Roboforex Alternatives

4.3 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
80%
4.0/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
80%
4.0/5
Trading Fees
100%
5.0/5
Support
80%
4.0/5

Things we liked:

 Up to 500:1 leverage
 Low minimum deposit requirement

Things we didn't like:

 Absence of a direct telephone number for customer support
 Ospreyfx is not a fully licensed and regulated broker

#1
OspreyFX Overview

Named after the very large, distinctively shaped, fish preying hawk, which suitably decorates the brand’s logo, OspreyFX is a relatively new entrant in the world of forex brokerages, aiming to offer existing and aspiring traders an innovative venue in which they can satisfy all their trading needs, including the trading of cryptocurrencies.

4.2 / 5

Rating breakdown

Security
70%
3.5/5
Ease of Use
90%
4.5/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
60%
3.0/5

Things we liked:

 AvaTrade has low trading fees
 The account opening is user-friendly and fast
 It offers a lot of deposit and withdrawals options free of charge

Things we didn't like:

 The product portfolio is limited as it offers only CFDs, forex, and cryptos
 The research tools are limited

#2
AvaTrade Overview

Since its establishment in 2006, AvaTrade has expanded to 11 countries and offers an array of trading platforms for web, desktop, and mobile use. It facilitates trading in spot forex, forex options, and CFDs across various asset classes, including cryptocurrencies. AvaTrade boasts 300,000 registered traders executing over 3 million trades monthly, with a total traded value exceeding $1.47 trillion.

4.0 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
100%
5.0/5
Tradable Assets
50%
2.5/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
70%
3.5/5

Things we liked:

 XM has low trading fees
  The account opening is user-friendly and fast
 Lots of educational tools

Things we didn't like:

 XM has a limited product portfolio
 The research tools are limited
 It charges inactivity fees

#3
XM Overview

XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.

RoboForex Alternatives Frequently Asked Questions (FAQs):

Are there any sites like RoboForex?
Yes, there are many sites offering similar services like RoboForex. Those include OspreyFX, IC Markets, FP Markets and many more. If you are to look for an alternative to RoboForex for your forex trading needs, then you must make sure it is one with a better offering.
Who are RoboForex Top Competitors?
RoboForex 's top competitors in July 2024 are: OspreyFX, AvaTrade, XM and more. OspreyFX is currently rank as the number one on the list of top Forex brokers.

Are you Satisfied with what They Offer?