RoboForex Review

RoboForex Review Ratings at a Glance

RoboForex is an experienced brokerage company that places great emphasis on the quality of its products and services while remaining accessible to traders with varying levels of experience and initial capital. With RoboForex, you have the freedom to choose from a range of trading platforms, various asset classes, multiple account types, and low minimum deposit requirements. In this review, Benzinga describes the numerous benefits that traders can expect from this award-winning financial brokerage company.

RoboForex offers you access to trade a wide range of tradable assets, both with and without leverage. The asset types you can trade through RoboForex are detailed below:

• Currencies: You can trade over 40 different currency pairs on a variety of trading platforms, including the company's own R StocksTrader and R WebTrader platforms, as well as MetaQuotes' popular MT4/5 platforms. RoboForex offers 5 different account types for trading, including an ECN account, and most of them allow you to make an initial deposit of only $10. 
• Stocks: RoboForex enables you to trade stocks such as Amazon.com (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL), along with over 12,000 other stocks and tradable assets. Through a special account, you can access the company’s proprietary R StocksTrader platform and mobile app for trading stocks. This trading platform features cutting-edge technology and provides a comprehensive set of stock technical analysis tools, as well as a multi-asset terminal with a classic design. While most other RoboForex accounts have a minimum deposit requirement of $10, the R StocksTrader account does require a slightly higher minimum deposit of $100.
• Indices: RoboForex offers a selection of indices that can be traded, including US500Cash, USTECHCash, US30Cash, JP225Cash, and DE40Cash. The company provides competitive dealing spreads starting at 0.5 pips for ECN and Prime accounts, and 0.7 pips for Pro accounts. Depending on the account type, the commission for a trading volume of $1 million starts at $4. The minimum lot size for all indices is 0.01.
• ETFs: RoboForex allows trading of over 1,000 ETFs with tight dealing spreads as low as 0 pips and a leverage ratio of up to 20:1. This makes RoboForex an attractive option for ETF traders. Popular ETFs available for trading at RoboForex include FITS (The Health and Fitness ETF), SPY (SPDR S&P 500 ETF), USMV (USA Min Volatility MSCI Ishares) and UUP (DB US Dollar Index Bullish Powershares). The minimum deposit required to trade ETFs at RoboForex is $100.
• Soft Commodities: RoboForex enables the trading of various soft commodities. Traders can access over 100 ETFs in the soft commodity markets, including WEAT (Teucrium Wheat), CORN (Teucrium Corn), SGAR (Sugar Pure Beta ETN Ipath) and SOYB (Teucrium Soybean). The maximum leverage ratio for soft commodities is 20:1, and a minimum deposit of $100 is required to trade them.
• Precious Metals: RoboForex offers trading of gold (XAU/USD) and silver (XAG/USD), as well as more than 20 ETFs on precious metals like gold, palladium, platinum, and silver. The company provides low floating dealing spreads for these metals, starting at 0 pips. The minimum deposit to trade metals is just $10, and metal ETFs can be leveraged at a ratio of up to 20:1. 
• Energy commodities: Energy traders can trade ETFs on heating oil, natural gas, ethanol, and oil using leverage of up to 20:1. Brent and West Texas Intermediate (WTI) crude oil can also be traded in RoboForex’s Pro, ECN, Prime and R StocksTrader accounts.

The Primary Investment Product of RoboForex is CopyFX

CopyFX is the company's own copy trading system, which allows traders to either list their strategies to be copied by other participants in the system or copy the strategies of other traders in a secure and transparent environment. 

The CopyFX system offers lightning-fast and accurate copying of each transaction and provides a variety of settings to enhance trading flexibility for traders and their subscribers. Additionally, the system does not require specific network requirements such as low ping or VPS, making CopyFX accessible to all traders in the market.

The RoboForex Partner Program

The RoboForex Partner program is another notable feature of the company. Traders, fintech developers, and content creators can join the program to attract new clients to RoboForex and earn a substantial commission, which can reach up to 84% of the company's revenue.

There are no limits on partner payouts, whether daily or otherwise. Partners also have the opportunity to increase their commission by encouraging traders to register “Affiliate” accounts and inviting clients to trade specific types of assets (Gold, Oil, Indices) where the partner commission per lot is one of the highest in the market.

Customer service at RoboForex pleasantly surprised this reviewer. When using the live chat support option on RoboForex’s website, the response was almost immediate, which is remarkably fast compared to other online financial brokerage companies in this sector. The staff member who responded was also very helpful and provided thorough answers to all questions.

You also can reach RoboForex’s customer service by telephone on a 24/7 basis where the company’s support personnel are readily available to answer your questions. You can also contact the company through Facebook, Telegram, and Instagram.

RoboForex Ltd is licensed by the FSC to provide access to "Trading in financial and commodity-based derivative instruments and other securities". 

As a reputable brokerage company, RoboForex prioritises the security of client funds. The company has been a member of The Financial Commission and its Compensation Fund for several years. RoboForex has also implemented additional measures, including a Civil Liability insurance programme, to ensure compliance with its obligations to clients.

Additional measures RoboForex uses to protect client funds include two-step authentication using short message service (SMS) and mobile apps to safeguard personal information and funds from cyberattacks. The company’s webpage also utilises a secure socket layer (SSL) protocol to ensure privacy, authentication, and data integrity. Furthermore, RoboForex uses email verification and takes up to two working days to verify client documents, ensuring the authenticity of their profiles.

The required minimum deposit at RoboForex varies depending on the type of account you decide to open. The account type also determines the range of tradable assets and derivatives available for trading through the company. 

RoboForex currently offers five account types, each with its unique features that cater to different types of traders. The minimum deposit amounts and specific features of each account type are outlined below:

1. Prime Account

RoboForex claims that the Prime account type offers the most favourable trading conditions among all the options available at the company. 

• Minimum deposit – $10 
• Trading platforms – MT4, MT5, iOS and Android mobile apps
• Trading instruments – 28 currency pairs, Metals, US stocks, Indices, Oil, Futures 
• Dealing spreads – floating spreads from 0 pips
• Maximum leverage – 300:1
• Account currency – USD and GOLD
• Stop out – 100%

2. ECN Account

RoboForex suggests the ECN account for experienced traders, as it combines ultra-fast execution speeds with competitive trading conditions. Features of the ECN account include:

• Minimum deposit – $10
• Trading platforms – MT4, MT5, iOS and Android mobile apps
• Trading instruments – 36 currency pairs, Metals, US stocks, Indices, Oil, Futures 
• Dealing spreads – floating spreads from 0 pips
• Maximum leverage – 500:1
• Account currency – USD and GOLD
• Stop out – 40%

3. R StocksTrader Account

The R StocksTrader account is specifically designed for trading through RoboForex’s proprietary R StocksTrader web platform and mobile app. This account type offers efficient and secure stock trading without commission charges*. You will have free access to reliable market data, visually appealing charts, innovative features, a corporate actions calendar, and comprehensive support to help you invest with confidence. Additional features of the R StocksTrader account include:

• Minimum deposit – $100
• Trading platforms – R StockTrader, iOS and Android mobile apps
• Trading instruments – Over 12,000: Indices, US stocks, Currencies and ETF, Oil, Metals, Futures 
• Dealing spreads – from 0.01 pips
• Maximum leverage – RoboForex has different leverage ratios for the assets you can trade in the R StockTrader account, and charges variable commissions 
• Account currency – USD
• Stop out – 20%

* Other fees may apply

4. ProCent Account

The ProCent account is designed for traders who are looking to transition from a demo account to a live account, or for those who wish to test strategies and expert advisor (EA) software. Features of the ProCent account include:

• Minimum deposit – $10 
• Trading platforms – MT4, MT5, R StockTrader, iOS and Android mobile apps
• Trading instruments – 36 currency pairs, Metals,
• Dealing spreads – floating spreads from 1.3 pips
• Maximum leverage – 2000:1
• Account currency – USD, GOLD
• Stop out – 10% 

5. Pro Account

The Pro account is the most popular among less experienced traders in the company. Features of the Pro account include:

• Minimum deposit – $10
• Trading platforms – MT4, MT5, R StockTrader, iOS and Android mobile apps
• Trading instruments – 36 currency pairs, Metals, US stocks, Indices, Oil, Futures 
• Dealing spreads – floating spreads from 1.3 pips
• Maximum leverage – 2000:1
• Account currency – USD, GOLD
• Stop out – 20%

Most of the company account types listed above can be initially opened as demo accounts. This allows traders to explore and test the features of each account before deciding to fund a live account of that type.

Starting with the initial registration process that takes approximately five minutes, this reviewer found the user experience and excellent customer service to be ideal for traders at all levels of expertise. Moreover, the availability of a wide range of trading platforms and account options positions this company as an excellent alternative to financial brokerage firms that only offer one type of trading platform.

Furthermore, RoboForex provides its clients with a comprehensive suite of valuable market information, including an economic calendar, a blog, analysis and forecasts, a trading calculator, and advanced charts for all the tradable assets offered by the company.

RoboForex vs. Competitors

Although some highly reputable online financial brokerage companies, such as AvaTrade and Pepperstone, compare favorably to RoboForex in terms of their product offerings, only a few companies provide the services and unique features necessary for automating a multi-asset trading plan, which you can access through RoboForex. 

RoboForex also offers significant flexibility in terms of account types and the potential to use very high leverage where permitted. Most notably though, the company lets you create and test your own trading robot on the R StocksTrader platform with extensive historical data going back half a century. 

For your convenience, Benzinga has compiled a chart comparing RoboForex with some of its online financial brokerage competitors shown below.

Considering the wide range of tradable assets, the variety of trading platforms, the high leverage ratios, reasonable dealing spreads, helpful research tools, low minimum deposits, and numerous valuable features for market, multi-asset, and algorithmic traders, RoboForex is certainly worth considering as your financial brokerage company.

Overall, this award-winning company is highly competitive and definitely worth exploring to determine if it meets your specific needs. You can even open an account at RoboForex and start trading within five minutes.

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