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RoboForex Broker Review

Review By: Max WebsterReview Updated: 2020-04-15

Email: General enquiries – info@roboforex.com

forexetfstockscfdcryptocommodities

Spread

From 0 points

Max. Leverage

1:2000

Deposit Protection

€20,000 EUR

Min. Deposit

$10 USD

Spread

From $0.1 USD

Max. Leverage

1:20

Deposit Protection

€20,000 EUR

Min. Deposit

$100 USD

Spread

From 0 points

Max. Leverage

1:20

Deposit Protection

€20,000 EUR

Min. Deposit

$10 USD

Spread

From $0.01 USD

Max. Leverage

1:20

Deposit Protection

€20,000 EUR

Min. Deposit

$10 USD

Spread

From 0 points

Max. Leverage

1:50

Deposit Protection

€20,000 EUR

Min. Deposit

$10 USD

Spread

From $0.01 USD

Max. Leverage

1:1000

Deposit Protection

€20,000 EUR

Min. Deposit

$10 USD

Our Overall Rating

Rating3.7

RoboForex was set up in 2009, and since then it has grown from strength to strength. It provides all kinds of services to its clients, including forex and crypto. It is a member of the FSCL, or Financial Services Complaints Ltd, scheme in New Zealand. And what’s more, it’s also an official sponsor of a Muay Thai fighter and a world kickboxing champion called Andrei Kulebin.

Commissions & Fees

Rating

RoboForex’s business model sees it make money through the spread between the price at which the item was sold and that at which it was bought. The spread prices begin at zero pips for some assets, which could lead to significant savings if one of these is the asset you plan to trade! And even where the spread fees are more than this, they’re not always uncompetitive: the GBP/USD foreign exchange trading pair, for example, offers spread fees of 0.7. Leverage can go up to 1:2000 depending on your exact account type. There are also some bonus options in place, too, so you could even end up earning some of your fees back. New joiners, for example, receive a bonus of $30.

Platforms & Tools

Rating

Trading platforms are a particularly strong point of RoboForex’s. Not only does this broker go one step further than most by offering Meta Trader 5 as well as the more commonly-used Meta Trader 4, but it also provides some further options such as cTrader. And you can also use rTrader, which is a multi-asset terminal, through RoboForex – meaning that you have the luxury of choice rather than being forced to use one, broker-approved package.

Customer Service

Rating

Customer service is clearly a strategic priority for the team at RoboForex, and the firm has invested a lot of cash in it. Live chat assistants are available 24 hours a day, seven days a week – and they can respond in 11 different languages. It’s possible to fill out an online form on the firm’s contact page, too, if that’s preferable. And if you would like to speak to someone on the phone, you can do so either by placing a call or by asking for a callback.

Research

Rating

Ease of Use

Rating

Mobile Trading

Rating

Regulatory details

RoboForex Prohibited countries:

Australia | Austria | Belgium | Bulgaria | Canada | Croatia | Cyprus | Czech Republic | Denmark | Estonia | Finland | France | Germany | Greece | Hungary | Iceland | Ireland | Italy Japan | Liechtenstein | Lithuania | Luxembourg | Malta | Netherlands | Norway | Poland | Portugal | Romania | Slovakia | Slovenia | Spain | Sweden | United Kingdom | United States

From their website:

There is a high level of risk involved when trading leveraged products such as Forex/CFDs. You should not risk more than you can afford to lose, it is possible that you may lose the entire amount of your account balance. You should not trade or invest unless you fully understand the true extent of your exposure to the risk of loss. When trading or investing, you must always take into consideration the level of your experience. Copy-trading services imply additional risks to your investment due to nature of such products. If the risks involved seem unclear to you, please apply to an outside specialist for an independent advice.

 

Final Thoughts

RoboForex is a quality broker who has a firm offer for customers to take advantage of. It provides a range of customer service options, and you can choose from a diverse set of platform types, including sophisticated cTrader and Meta Trader 5. Spread fees are competitive, too, depending on the asset you want to trade – so this certainly won’t be the sort of broker where you’re cleared out of your deposit straight away.


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Ratings

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  • Platforms & ToolsRating
  • Customer ServiceRating
  • ResearchRating
  • Ease of UseRating
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