RoboForex Review 2024 | Is RoboForex a Scam or Legit Forex Broker?

Item: RoboForex
Rating: 3
Author: George Milios

Read our RoboForex review to find out if RoboForex is a scam or a reliable forex broker. Unbiased Forex brokers reviews that serve the interests of our users.

RoboForex Review and Analysis

Overview

Roboforex Review RoboForex Ltd is an online broker that offers low spreads, multiple trading instruments, multiple platforms and limited bonuses.

Investor Protection & Regulations

Regulated by the IFSC, investor funds are protected by account segregation and Financial Commissions’ compensation. RoboForex provides security through industry best security practices and compliance to the regulatory provisions of IFSC. These include segregated accounts and encryption technology.

Tradeable Products

Choose from over 9,000 trading instruments available on the RoboForex trading platforms, across 50 currency pairs, 8600 stocks and 9 indices.

Fees and Commissions

Roboforex fees and commissions Trade with low spreads on the RoboForex trading platform, starting at just 0.1 pips on the EUR/USD benchmark

Trading Platform

Roboforex trading platform Multiple trading platforms are provided by RoboForex, which include MT4, MT5, R webtrader and the R Trader.RoboForex platforms are all available on the mobile platforms. The MT4, and MT5 all have downloadable android and iOS versions. They can be downloaded from their respective stores or from the link on the RoboForex website.

Account Types

Multiple account types are available depending on the platform, instrument and the investor’s capital, these include Cent, Standard, ECN NDD, Affiliate and Prime accounts.

Deposit and withdrawal

Roboforex Deposit and Withdrawal Roboforex offers several payment options, depending on the country of domicile. These include e-wallets, credit/debit cards and bank wire. Withdrawals are processed within 1 day and are charged.

Usability

The overall experience is rich for traders of all levels, it includes a variety of resources and a wide selection of trading technology.

Customer Support

Roboforex customer support Very fast, reliable and efficient customer support is available in 12 languages 24/7

Education and Research

For trader education, several instructional videos are available as well as walk-through guides and tutorials.

Overall Conclusion – Final Thoughts

RoboForex is regulated by the IFSC and provides adequate security and protection of investor funds. The brand’s own platforms are suitable for every level of trader. Trading charges are low and you can get access to over 6,000 trading instruments.

ROBOFOREX Social proof

ROBOFOREX Social proof is the reviews, testimonials, and social shares that customers provide about ROBOFOREX that help lead others to make any purchase decisions. Last Updated Date: 21/08/2024
Channel	RoboForex Social proof
Instagram	Account with 34.1k followers
Facebook	Account with 400k followers
Twitter	Account with 26k followers
Youtube	Account with 9.9k subscribers and 96 uploaded videos
Telegram	Account with 2k followers
Discord	Does not have a Discord channel

Traders comments and Reviews about ROBOFOREX

Sites like Trustpilot provide excellent third-party social proof. Please be aware that there is no guarantee whether or not fake reviews are or are not present. These can lead to bias and compromise the reliability of reviews.
TrustPilot	RoboForex TrustPilot Customer Reviews, Feedback and Complaints
Trustpilot	On Trustpilot, RoboForex has currently 479 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 3.20/5.00. The low trustpilot score comparing with industry standards, indicating that most customers are generally dissatisfied with RoboForex. Reviewers complaining about RoboForex most frequently mention Spread manipulator, and Excessive charges on withdrawal. RoboForex firm's reply behavior to negative reviews is up to the standard having replied to 74% negative reviews with a response time to their negative reviews in less than 7 days.

RoboForex Read TrustPilot Customer Reviews, Feedback and Complaints

Real Benefits according to the Positive Users' Reviews

Several options to trade

Main Complains according to the Users' Reviews

Spread manipulator
Excessive charges on withdrawal

Very dodgy brokers, and untrustworthy. Their support is useless simply because they are not accountable. It is obvious they are buying fake positive reviews as even this site has put a disclaimer on their account.

TrustPilot Reviews' Key takeaway

Broker's Features	ROBOFOREX Availability
Commissions	✔
Hedging	✔
PAMM	❌
Scalping	✔
Accepts US traders	❌
24 hour trading	❌
Swaps	❌
Demo account	✔
Daily analysis	❌
Automated trading	❌
Mobile trading	❌
Trading by phone	❌
1st deposit bonus	❌
Forex contests competitions	❌
Bonuses Promotions	✔
Interest charges on the balance	❌
Free education	❌
Expert advisors	❌
Partnership programs	❌
Trust management	❌
24 hour support	✔

Bonuses: Upcoming & Ongoing Competitions and Giveaways

Welcome Bonus 30 USD from RoboForex

$30 USD no-deposit bonus. If you are a new client, open a new account and verify it.

Ending Date: Tuesday 31 December, 2024

Terms: Available to new clients only. The profits can be withdrawn with no restrictions, but the bonus can be withdrawn after volume trading conditions have been met. The promotion can be changed or terminated at any time without previous notice.

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Latest News

RoboForex has Evolved its Market Analysis Content

RoboForex has updated its Market Analysis section to provide traders with more detailed and actionable insights. The enhancements include daily updates and forecasts on currencies, commodities, indices, and stocks, utilizing both fundamental and ... [show/hide]

technical analysis. The expanded content now offers an in-depth analysis of major currency pairs like EUR/USD and USD/JPY, commodity prices such as gold and crude oil, and key stock indices like US 30 and DE 40. These updates are part of RoboForex's efforts to improve the accessibility and value of its analytical content, helping traders make more informed decisions. Future plans include introducing annual analytical reports and additional monthly and weekly technical analysis articles.

Monday 12 August, 2024

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People Also Asked

Is RoboForex regulated?

Yes, RoboForex is regulated by top-tier regulators, IFSC inclusive.

Where is RoboForex based?

RoboForex is based in Belize

How does RoboForex make money?

RoboForex charges a spread between the bid price and ask price. In some instances it also charges a commission.

How do I deposit in RoboForex account?

With RoboForex you can deposit money via the following means; China UnionPay, Credit Card, FasaPay, Neteller, Poli, QIWI, Skrill.

How do I withdrawal in RoboForex account?

RoboForex lets you request a withdrawal of funds from your account via the following means; Wire Transfer, Credit Card, Neteller, Skrill.

What is the minimum deposit for RoboForex?

RoboForex has $10 minimum deposit.

What is the max leverage in RoboForex?

RoboForex has a maximum leverage is 1:2000 for professional traders.

Does RoboForex use MetaTrader?

RoboForex platforms: Yes, RoboForex use MetaTrader as well as the following platforms: MT4, MT5, Proprietary

What type of broker is RoboForex?

RoboForex appears to be a Dealing Desk, DMA, ECN, Market Maker, No dealing d broker which offers market access to a variety of traders.

Does RoboForex accept US clients?

No, RoboForex does not accept US clients

Does RoboForex offers Islamic accounts?

Yes, RoboForex offers Islamic accounts

What financial instruments can I trade?

You can trade a wide variety of instruments with RoboForex: You can trade a wide variety of instruments with RoboForex: Currencies, Commodities, Indices, Stocks

By trading with securities you are taking a high degree of risk. You can lose all of your invested money. You should start trading only if you are aware of this risk. All the opinions expressed on our site by individual author is solely their own and does necessarily represent or correspond to the views of the site’s management. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services.

RoboForex

3.3 / 5

Rating breakdown

Top alternative : OspreyFX