In this detailed RoboForex Broker Review, we will review each aspect of the RoboForex broker to see if this broker is a legit broker. Below is the summary of the RoboForex Broker.
Summary
Assets Available | 5 Asset Classes - Forex, Stocks, Indices, ETF's, Commodities |
Regulated By | FSC (Belize) |
No. Of Trading Platforms | 3 Trading Platforms - MetaTrader 4, MetaTrader 5, and R trading platform |
Leverage | Up to 1:2000 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $10 |
Demo Account | Yes |
Education Provided | Educational videos and articles |
Methods of Payment | Bank cards, wire transfers, and payment services |
Open Account |
Top CFD Brokers
Best for Low Spreads | Best for Speed | Best for High Leverage |
 Fusion Markets is one of the top brokers that provide traders with low spreads (Risk warning: 76% of retail CFD accounts lose money) |  BlackBull markets is a great broker that provides traders with fast executions speeds. (Risk warning: 76% of retail CFD accounts lose money) |  Exness is a highly regulated broker that is best for high leverage trading. (Risk warning: 76% of retail CFD accounts lose money) |
Broker Background
Established in 2009, RoboForex is an international online broker recognized for its technological innovation and wide array of financial instruments.
The company is regulated by the Financial Services Commission (FSC) of Belize. Further enhancing client protection, RoboForex is a member of The Financial Commission, an independent dispute resolution body with a compensation fund. The broker serves a diverse global clientele, focusing on providing versatile trading solutions and extensive platform support for its customers.
Trading Platforms
Score – 4.3/5 (Decent selection of trading platforms)
The RoboForex broker provides traders with 3 main trading platforms. These are, MetaTrader 4, MetaTrader 5, and R-Stock trading platform.
R-Stock Trader
R StocksTrader is RoboForex’s proprietary multi-asset platform, accessible via web and mobile applications. It provides traders access to over 12,000 instruments, including real stocks and CFDs. Its modern design is equipped with advanced charting tools suitable for a wide range of traders. R StocksTrader’s standout feature is its integrated, no-code strategy builder, which simplifies the creation of automated trading algorithms.
MetaTrader 4
MetaTrader 4 (MT4) provides a versatile and accessible gateway to the forex markets, deployable on any desktop, browser, or mobile device. The platform masterfully balances simplicity for beginners with the depth required for advanced market analysis and swift trade execution. Its defining feature, however, is a world-class environment for algorithmic trading, allowing users to effortlessly implement automated strategies.
MetaTrader 5
MetaTrader 5 (MT5) elevates your trading by expanding beyond its predecessor’s capabilities. It offers a superior multi-asset environment with more advanced charting tools, additional timeframes, and a broader array of technical indicators for deeper market analysis. The platform also features a more powerful MQL5 programming language, providing a robust and flexible foundation for developing sophisticated trading robots and complex algorithmic strategies.
Instruments Available For Trading
Score – 4.5/5 (Access to a good amount of tradable instruments)
The RoboForex broker offers traders with 5 different asset classes. These are Forex, Stocks, Indices, ETFs and Commodities. Across these asset classes there are over 12,000+ tradable instruments.
Forex
RoboForex broker provides access to over 40 currency pairs. These include major, cross and exotic pairs.
Stocks
RoboForex broker offers over 12,000+ Share CFDs that you can trade. These include shares from numerous companies listed on major international stock exchanges.
Indices
RoboForex broker offers traders access to a range of major global indices.
ETFs
RoboForex broker offers traders access to a range of popular ETF such as FITS, SPY, USMV and more.
Commodities
Traders can access a variety of Commodity CFDs through RoboForex broker, allowing them to speculate on price movements in precious metals (gold, silver), energies (oil, natural gas), and other essential commodities.
Regulations & Security Measures
Score – 3.5/5 (Regulated by top tier regulators)
Regulations
RoboForex Broker is only regulated by the Financial Services Commission (FSC) in Belize. RoboForex is not regulated by a top tier regulator such as the Australian Securities and Investment Commissions (ASIC) or the Financial Conduct Authority (FCA) in UK.
Is it Trustworthy and Safe to trade with RoboForex?
RoboForex is been operating since 2009 and It is generally considered safe to trade with the RoboForex broker. RoboForex is an “A” category member of The Financial Commission, an independent, external dispute resolution (EDR) body. This provides traders with a neutral third party to handle complaints if they cannot be resolved directly with the broker.
Live Trading Account Types
The RoboForex broker provides 5 main account types for live trading. These are,
- Pro Account
- ProCent Account
- ECN Account
- Prime Account
- R Stock Trader
Commissions And Spreads
Score – 4.5/5 (Relatively low fees and selection)
Pro Account
Pro account is suitable for traders who prefer a spread based account. For this account, the spreads starts from 1.3 pips and no commission is charged.
ProCent Account
ProCent account is great for beginners who wants to test new strategies with minimal risk. For this account type, the balance will be in cents which allows traders to start small. The spreads for this account type starts from 1.3 pips and no commission is charged.
ECN Account
ECN is a low spread account great for fast trade execution speeds. For this account type the spreads starts from 0.0 pips and the commission charged is around $4 per lot.
Prime Account
For the prime account the spreads starts from 0.0 pips and the commission charged is $2 per lot. The maximum leverage offering for the prime account is less than the ECN account.
R Stock Trader
This account is mainly for traders interested in stocks and ETFs. For this account the spreads starts from 0.02 pips.
The table below shows the comparison of RoboForex broker with other brokers for the low spread account.
| RoboForex | Fusion Markets | Exness Broker | |
| Commission | $2.0 per side | $2.25 per side | From $0.05 per side |
| Spreads | from 0.0 pips | from 0.0 pips | from 0.0 pips |
As seen from the comparison the commission charged by the RoboForex account is one of the lowest in the industry.
Leverage
Score – 5/5 (High leverage)
The RoboForex broker provides a maximum leverage of up to 1:2000 depending on the country & the financial instrument you are trading. The table below shows the comparison of this leverage with other brokers.
| RoboForex | Exness Broker | XM Broker | |
| Leverage | 1:2000 | 1:2000+ | 1:888 |
As seen from the above table, the RoboForex provides one of the highest leverage in the industry.
Education Provided
Score – 3.5/5 (Basic trading education)
The RoboForex broker does not provide much education for traders. They do provide market analysis content.
Minimum Deposit
Score – 4.5/5 (Low minimum deposit size required)
To open an account with the RoboForex broker you require a minimum deposit of $10 for all the account types expect for the R stock Trader account. For this account type, you need a minimum deposit of $100.
Awards
Score – 4.5/5 (Have won awards)
RoboForex broker is an award-winning broker, recognized by few different organizations. The following image shows few awards won by the RoboForex broker.
Methods Of Payment (Deposit and Withdrawal)
There are several deposit and withdrawal options provided by the RoboForex broker. These are local bank transfer, AstroPay, Skrill, Neteller, STICPay, Visa, MasterCard & Western Union. It is important to note that not all of these payment methods are available in every country.
Customer Service
Score – 4.5/5 (Good customer support available 24/7)
When it comes to customer support, the RoboForex broker provides traders with 24/7 customer service. Traders can contact the RoboForex broker customer support through multiple contact methods. These are:
- Live Chat
- Phone
Demo Accounts
RoboForex broker provides free demo accounts where you can practice forex trading with virtual funds in a risk-free environment. It’s an excellent opportunity to gain hands-on experience and test your trading strategies without any financial risk. It is important to note that almost all the brokers provide demo accounts for traders.
Pros & Cons
The table below shows the Pro’s and Cons of the RoboForex broker
| Pros | Cons |
| Access to high leverage | Weak Regulation |
| Relatively low fees | No cTrader |
| Good selection of Financial Instruments |
Is this broker legit?
Yes, the RoboForex broker is a legit broker with long standing in the industry.
RoboForex broker also provide great features for traders as well.
RoboForex Alternative Brokers
RoboForex is a great broker but there are alternatives to the RoboForex broker depending on your needs. They are the following.
- BlackBull Markets – BlackBull Markets provides traders with faster execution speeds and more tradable instruments than the RoboForex broker.
- Exness – Exness Broker is a great alternative to the RoboForex broker. Exness provides low fees and access to high leverage if required.
- Fusion Markets – Fusion Markets is regulated by a top tier regulator such as ASIC and offer low fees.
Our Evaluation Methodology
We assess brokers through a comprehensive rating system that involves examining more than 100 data points across key categories. Our approach includes the following:
- Trust and Regulation – We verify each broker’s regulatory status and licenses to ensure they operate under the supervision of credible financial authorities, ideally tier 1 regulators.
- Cost Analysis – We scrutinize trading fees and compare them against industry standards by setting up and trading within live accounts.
- Platform Performance – We evaluate the trading platforms’ functionality, user interface, and available tools by conducting hands-on testing.
- Instrument Availability – We assess the diversity and range of tradable assets offered by each broker.
- Customer Service – We test the accessibility and competence of customer support by reaching out via various channels.
- Transaction Methods – We review the deposit and withdrawal options, focusing on fees and processing times.
- Account Variety – We analyze the different account types, considering their features, minimum deposit requirements, and execution methods.
- Educational Resources – We examine the quality and breadth of educational materials provided to help traders improve their knowledge and skills.
Conclusion
In this article, we reviewed RoboForex broker in depth to determine its legitimacy. We concluded that RoboForex is indeed a legitimate broker that offers great features but lack top tier regulations.
