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RoboForex Review 2021
RoboForex is an international forex brokerage company, founded in 2009. The company is licensed by the International Financial Services Commission, which allows the broker to provide services to the customers in the majority of countries.
Among RoboForex achievements are 10 international awards the company earned for its mobile applications, investment and educational products.
RoboForex’ pros and cons
Focus on the services of automated trading is the key advantage of RoboForex. For these purposes, the company customized its trading software and developed a special platform. There are professional educational programs, courses and seminars available for the beginners.
Overall, the level of commissions and fees on RoboForex is average. However, there are several products that compare favorably with the competitors. These are ECN-account and R-Trader account with good trading conditions for Forex and stock markets, respectively.
The biggest drawback of RoboForex is its regulation in Belize, which is known as an offshore territory with weak control over the operations of foreign financial companies.
|Leverage||Up to 1:2000|
|Markets||Forex, stocks, indices, commodities, energies, metals, cryptocurrencies|
|Withdrawal fee||Charged in some payment systems|
|Withdrawal to credit/debit card||Visa, MasterCard, Mir|
|Deposit from electronic wallets||WM, Yandex.Money, QIWI, Skrill, Neteller, AdvCash, Kassa24, Perfect Money, ecoPayz|
|Trading platforms||MetaTrader 4, MetaTrader 5, R-Trader, cTrader|
Geography of broker’s customers
We tested RoboForex to determine the broker’s geography. As of May 22, Germany, Russia, Ukraine, Malaysia and Indonesia accounted for the lion’s share of the customers.
The company does not work with residents of the USA, Australia, Canada and Japan. Also, the broker’s disclaimer reads that RoboForex does not target the residents of the EU and EEA – Switzerland, Norway, UK. However, “does not target” does not mean it does not provide services for them.
Before opening an account, please contact the broker’s customer support for details!
Commissions and fees
The broker’s distinguishing feature is the large number of trading accounts that differ in the selection of instruments and trading conditions. There is a special section on the company’s website, where the trading expenses are provided in tables.
You can also use the Trading Calculator on RoboForex website to calculate the fee amount. You can select the main transaction parameters from the list and instantly calculate the following:
- Server (matches the account type)
- Contract size in base currency of the pair
- Point value in USD
- Spread (the difference between Ask and Bid prices)
- Swap short and swap long
The calculation is performed for RoboForex-Pro, RoboForex-Prime and RoboForex-ECN servers, to which the namesake account types of the broker match.
Pros and cons of commissions and fees on RoboForex
Short review of RoboForex commissions and fees
Please note that spreads and commissions on transactions differ significantly depending on the trading plan. For illustration purposes, let’s review RoboForex commissions for popular trading plans for Forex pairs and cryptocurrencies and then analyze all classes of trading tools in more detail.
|Account||Asset class and tool||Spreads and commissions *|
|RoboForex-Pro||Forex. EURUSD||Average spread - 1.4 pips**. No commission charged.|
|RoboForex-Pro||Forex. EURJPY||Average spread – 1.6 pips. No commission charged.|
|RoboForex-Pro||Crypto. BTCUSD||Average spread – 341 pips. No commission charged.|
|RoboForex-Prime||Forex. EURUSD||Average spread - 0.2 pips. Commission - USD 10 per USD 1 million traded.|
|RoboForex-Prime||Forex. EURJPY||Average spread - 0.3 pips. Commission - USD 10 per USD 1 million traded.|
|RoboForex-Prime||Crypto. BTCUSD||Average spread - 21.9 pips. Commission - USD 2000 per USD 1 million traded.|
* Henceforth, all data is provided as of July 2020
As you can see, the trading plans with near-zero spreads have additional commission on the traded volume. In the trading plans with higher spreads there is no additional commission per trade. This detail needs to be taken into consideration when you are choosing the account type.
A comprehensive commission system, which could consist of spread, floating or fixed fee per trade is a common practice of brokers. A number of brokers benefits only from spreads, while others set low (near-zero) spreads, but charge accompanying commissions. RoboForex deploys a mixed model.
The level of spread and commission at RoboForex can be considered average compared to the market level. RoboForex is behind its direct competitors in some positions, while compares favorably with them in terms of accounts with special trading conditions.
As an example, let’s compare standard trading conditions of RoboForex (RoboForex-Pro trading account) with Forex4You (Classic trading account) and Exness (Standard trading account). In each case, we used the most popular account for new traders and the most popular currency pair EURUSD.
|EURUSD||Floating spread – on average 1.4 points||Fixed spread – from 2 points||Floating spread – o average 1 point|
Exness offers a more beneficial spread for the EURUSD currency pair, which factually means lower commission. RoboForex trading conditions for EUR/USD pair can be considered average.
Trading conditions on ECN account
To gain a better understanding of whether the trading commissions and spreads of RoboForex are attractive or not, let’s also compare ECN accounts of different brokers.
ECN (Electronic Communication Network) is an international trading network that allows traders perform transactions factually without intermediaries. The system connects traders with each other and large liquidity suppliers. This type of account is considered more reliable than a standard one. ECN is a big trend in the Forex market, which is why the majority of good brokers offer this service.
Although the broker’s influence on ECN accounts is minimal, you still need one. Individuals can work on the international forex market only through brokers. The broker also supplies software and provides technical support for the transactions. Traditionally, on ECN accounts the financial companies benefit from the commissions on the traded volume.
Below is the comparison of commissions on ECN accounts at RoboForex, Forex4You and Exness calculated as a standard lot value (100,000 units of the base currency), including spread and commissions.
* Forex4You only offers Pro STP (Straight True Processing) account.
The comparison shows that the commission on ECN account on RoboForex is slightly lower than the similar offer of Exness and STP account on Forex4You.
RoboForex commissions for different types of accounts
We established that the level of RoboForex commissions is average compared to direct competitors. So, what is the level of RoboForex commissions on the forex market for different types of accounts? We compared Pro-Standard, Prime and ECN accounts. As an example, we used the principles of charging commissions and the calculation of how much you will have to pay for the purchase of 1 standard lot of EURUSD pair on each of the accounts. For accuracy, we used RoboForex calculator.
|Commission||Per lot EURUSD||Per lot EURGPB|
|Pro-Standard||Average spread for EURUSD 1.4 pips, spread for EURGBP - 1.7 pips||14 USD||21.73 USD|
|Prime||10 USD per USD 1 million traded + small spread||5.35 USD||10.02 USD|
|ECN||20 USD per USD 1 million traded + small spread||7.70 USD||13.64 USD|
From the table above, we can see a pattern that is quite universal for all markets – the less liquid and popular the trading pair, the higher commission you have to pay. We also determined that the RoboForex has the best conditions in the forex market on its PRIME account.
We have prepared a similar table for cryptocurrencies to show the real commission for several popular trading pairs and some rare ones. The cost of one contract in this market ranges from one to several hundred units of base cryptocurrency. For reference, the value of Bitcoin at the moment of calculation (end of September 2020) was around $10,400, Ethereum – $300.
Comparison of commissions for BTCUSD trading at RoboForex, Forex4You and Exness for Standard accounts. As in the previous example, we used the average spread, specified on the broker’s website.
RoboForex offers not very beneficial conditions for trading Bitcoin on its Standard account compared to Exness. Forex4You did not provide information about the possibility of trading cryptocurrencies as of the time this article was being written.
CFD on stocks
The data provided below are based on the purchase of a lot of USD 5,000, average spread, commission on ECN account at $200 per $1 million traded, on Prime account – $150 per $1 million traded.
As you can see, as calculated per lot costs, the CFD commissions on Prime account are much lower than on the standard account.
NOTE! CFD contracts on stocks are available on the majority of trading accounts RoboForex (with the exception of R Trader). The cost of this derivative financial instrument is linked to the exchange rate of the securities and allows to benefit from its change. At the same time, the traders will not gain ownership rights to the base asset (share), and therefore do not have the rights to dividends or participation in the company management.
CFD on indices
Index is an indicator of the condition of stock market, cryptocurrency, commodity markets and other assets. As a rule, an index is calculated based on the cost of several up to several hundreds of components. For example, S&P 500 includes 500 largest US corporations traded on the exchange.
Stock indices enjoy great popularity among traders, as their values help smoothen volatility of certain stocks and reduce trading risks. Let use review what RoboForex offers for trading this interesting instrument. As an example, we will use conditions of Pro-Standard account and compare it to conditions of the competitors. We will calculate the costs for the purchase of a lot of USD 5,000 including spread and commission.
|US 500 Index Cash (.US500Cash)||$1.33||$1.22||$0.82|
|DE30 DE 30 Index Cash||$0.28||$1.46||$0.48|
|US Dow Jones Index Cash .US30Cash||$0.39||Not available||$0.43|
* all data is provided as of 22.09.2020
As we can see, RoboForex conditions are generally comparable to the competitors, and for some indices are even much better.
Commissions on R Trader account
Low commissions bear primary significance in successful use of trading robots, as the vast majority of them will only cause losses if the commissions are at standard level. RoboForex offers R-Trader account with special conditions for the fans of bots and trading advisors.
|Trading instrument||Standard commission||Spread||Commission for deposits over $10,000|
|US stocks||0.02 USD per share, but no less than 1.5 USD||from 0.01||0.0045 USD per share, but no less than 0.25 USD|
|CFD on US stocks||0.015 USD per share, but no less than 1.5 USD||from 0.01|
|CFD on EU stocks||0.07%, per share, but no less than 2.8 EUR / 2.8 GBP / 40 NOK / 40 SEK / 30 DKK respectively||from 0.01|
|Cryptocurrency||0.30%, per share, but no less than 0.01 USD||from 0|
|Forex||15 USD per 1 million of base currency *||from 0|
* $2 per lot
R-Trader account compares favorably with other offers of RoboForex. The commissions here are some of the best in the market in terms of trading with bots and advisors.
The majority of brokers have swap-free accounts for Muslim traders – Islam prohibits to earn interest income, while swap trading implies its presence. RoboForex also offers swap-free option on some of its accounts. This means that the trader will not earn interest and will not bear additional costs for any type of transactions.
Swap-free fee is a specific commission, which is why we added it to this section.
RoboForex commission for Swap-free
|AUDUSD||8 USD per lot|
|EURUSD||8 USD per lot|
|USDRUB||12 USD per lot|
|USDZAR||20 USD per lot|
|BTCUSD||2 USD per lot|
|ETHUSD||0.1 USD per lot|
|US 500 Index Cash (.US500Cash)||2 USD|
|Spot Brent Crude Oil||12 USD|
Note!Swap-free function is not available for ECN accounts.
As we’ve already noted, the majority of brokers working with Muslim countries have swap-free accounts.
|Availability of swap-free account||Yes||Yes||Yes|
All commissions charged by brokers can be divided into two big groups: trading and non-trading.
The first group are the commissions directly related to the process of performing transactions on the international markets. These are spreads, volume traded, fixed fee per each trade and other similar fees.
The second group are specific commissions, such as deposit/withdrawal fee, software, inactivity fee. For example, Interactive Brokers, a popular American online broker, charges $10 inactivity fee.
What kinds of non-trading commission does RoboForex charge? No fees are charged on deposits, regardless of the method of funding. At the same time, there is a withdrawal fee applied to some methods. In the table below, we provide only withdrawal methods charged with a fee.
|Payment system||Withdrawal fee|
|Payment system||Withdrawal fee|
|VISA/MasterCard/JCB||2,6% + 1,3 USD / 1 EUR|
Reliability and regulation
The main risk of working with RoboForex is its regulation. The license of Belize does not provide 100% guarantee of the broker’s reliability. On the other hand, RoboForex has been operating on the financial markets for 11 years, which speaks in its favor.
The main document the company operates on is Belize license, issued by IFSC (International Financial Services Commission), the local regulator.
The license number specified on RoboForex website is IFSC/60/271/TS. Noteworthy, Belize is known to have weak regulation in the financial services market. Due to this, the country is extremely popular among offshore brokers.
We cannot guarantee that the financial authority of this poor tiny country can protect the rights of RoboForex investors in case of a claim. There is one nuance – to operate in Belize, all you need to do is to buy a license and pay annual state fee of $5,000. There is one strict condition – not to provide services to the citizens of Belize.
The Financial Commission
RoboForex also specifies that it is a member of The Financial Commission. This international organization is designed to settle conflict situations on the market and has a compensation fund to settle substantiated and proven claims against brokers in the amount up to EUR 20,000. There is settlement statistics up until 2018 on the website of the organization.
It is not hard to calculate that of 915 claims against brokers filed in 2018, only 153 were settled in favor of the clients, which is 13%. That is not a very impressive result.
The 11-year experience on the market that RoboForex has is its biggest argument in favor of reliability.
RoboForex customers can get access to a wide range of markets. However, the difference between the account types is significant. The full features and 12,000 trading instruments are available only for R Trader account and platform, which also have the lowest commissions.
However, on other trading accounts, we found a rather limited number of instruments for trading. Another drawback is the shortage of comprehensive products that would allow to invest without trading actively. Options and futures contracts are also limited on the platform, which restrains the possibility of hedging transactions.
On standard accounts on RoboForex, the choice of markets and instruments for trading is modest and will fully meet the needs of a professional only on Forex market. However, for the beginners, the existing options are sufficient enough.
Compared to other forex brokers, the choice of markets and instruments can be considered average. However, compared to the global brokers from the U.S. and EU, RoboForex is lagging far behind. Below is a comparative table, where in addition to RoboForex, Exness and Forex4You, we included U.S.-based Interactive Brokers.
|Stocks||Only CFD on stocks*||Only CFD on stocks||Only CFD on stocks||Yes|
* Available only on R-Trader account. In other accounts – CFD on some US stocks and several indices.
Let’s not judge forex brokers for this omission. After all, their main function is providing services on the forex market.
As a start, let’s review the set of instruments the broker offers on the international forex market. One of the benefits is that all RoboForex accounts feature the Market Execution type of transactions – sending transactions to the real market, and not to the broker’s “kitchen”.
The broker offers 40 currency pairs for trading. These, naturally, include all main currency pairs and cross rates. There are few exotic pairs as well, although this may be perceived as an advantage for the new traders, as they will be less tempted to trade non-liquid pairs with huge spreads. The key competitors of the broker offer the same choice on the forex market.
CFD on stocks
The base trading accounts feature CFDs on the most popular US and Russian stocks, such as Apple, Microsoft, Tesla, Gazprom. Overall, 52 contracts on the US market and 12 on the Russian market are available. In addition to CFDs on stocks, RoboForex allows to trade CFDs on 4 indices.
Let us reiterate, CFD contract on stocks is not the same as stocks, but a much riskier instrument. It does not grant you the ownership rights to a share of the company or earning dividends. At the same time, brokers provide a big leverage for CFDs, which is why the traders are fully responsible for the observance of risk management rules.
* the broker did not publish contract specification
Ten popular pairs with US dollar and euro are available. This is not enough to cover the whole market, but sufficient for the needs of the majority of the clients.
Only CFD contracts on oil and also gold and silver are available on the platform.
Opening an account
One of the positive sides of RoboForex is that opening of a trading account on the platform literally takes 10-20 minutes. Verification requires much more time – up to two business days. The procedure is totally user-friendly. Also, it is worth noting that the minimum deposit is low, starting from $10 for forex market. This is an important nuance for the new traders, who want to test their abilities without the risk of losing too much money.
Restriction on provision of services to residents of a number of developed countries (USA, Japan, EU) is definitely a drawback. There are stricter limitations for forex brokers in these countries and there is close oversight over their operations.
Pros and cons
Before analyzing the accounts in more detail, let’s answer several logical questions.
What is the minimum deposit on RoboForex?
The minimum deposit is $10 for Pro-Standard, Pro-cent, Prime and ECN trading accounts. The minimum deposit for R-Trader account is $100, while reduced trading commissions apply for deposits over $10,000.
How do accounts differ from each other?
The accounts differ in many parameters. Firstly, they operate from different servers, have different leverage, set of trading instruments, working trading platforms. The accounts also have different level of reliability. ECN account is considered the most reliable.
Opening an account on RoboForex: guide
The procedure is quite simply and takes place fully online. At the first stage, you need to fill out a simple form on the company’s website in order to open a profile. You need to provide contact information, first name, last name and confirm that you are 18.
After creating a profile, the system will redirect you to the page for opening an account. There, you will also need to fill out a simple form, specify trading platform, type of chosen account, account currency and password.
Noteworthy, RoboForex supports KYC/AML international standards on fighting money laundering. That is why, you will be able to start trading only after verification of your passport data, which usually takes up to two business days. For this, you will need to send scanned copies of your passport, and other required documents, if requested, to the broker.
You will have to fill out the confirmation page with personal data and send a copy of your ID
Also you need to send some of your residence confirmation documents and photo from your webcam. Such a document can be a rental agreement or so on.
Trading accounts on RoboForex
The company offers 5 types of main accounts and a demo version for each account. The programs are designed taking into consideration the interests of different target groups of potential clients. Let’s review each of them in more detail in a table with some comments.
This is RoboForex account with best conditions for the new traders. We have prepared a table of conditions with comments on important issues and compared conditions with the standard accounts of Forex4You and Exness.
|Parameter||RoboForex Pro-Standard||Forex4You Classic||Exness Standard|
|Trading platforms||МТ4, МТ5, web, iOS, Android.||МТ4, МТ5||МТ4, МТ5|
|Available account currencies||RUR, gold, USD, EUR||USD, EUR||Several dozen currencies|
|Type of order execution||Market Execution||Instant Execution||Market Execution|
|Assets||40 currency pairs, CFD on US stocks, CFD on indices, CFD on oil, cryptocurrencies, metals.||40 currency pairs, 2 commodity items and 35 stocks.||Currency pairs, metals, cryptocurrencies, energies, indices|
|Minimum deposit||10 USD/10 EUR.||0 USD||1 USD|
|Commission on volume traded||No||No||No|
|Spread||Floating, from 1.3 points.||Fixed from 2 points||Floating, from 0.3|
|Contract size||1 lot = 100,000||1 lot = 100,000||1 lot = 100,000|
|Leverage||Up to 1:2000||Up to 1:1000||Up to 1:2000|
|Trading history||1 year||3 months||No data|
Comparison of standard accounts on RoboForex, Forex4You and Exness showed that Forex4You is lagging far behind its competitors. The size of the spread is also rather big. In the comparison of RoboForex and Exness, the latter has a smaller minimum spread, while other parameters are similar.
This is the type of the account, where cents are used as a base currency (Gold, EUR or USD, depending on the user’s choice). It is designed for new traders, as it requires less funds for opening a position.
- 5 trading platforms: МТ4, МТ5, web, iOS, Android.
- Available account currencies: gold, USD, EUR.
- Instruments: cryptocurrencies, metals, 36 currency pairs.
- Minimum deposit — 10 USD/10 EUR.
- No commission per USD 1 million traded.
- Spread — floating, from 1.3 points.
- Minimum lot — 0.1 points, maximum lot — 10,000.
- Leverage — up to 1:2000.
- Stop Out — 10% of the deposit amount.
- Cash back — up to 1.5% of the broker’s income.
- Bonuses for RoboForex account deposit — up to 120%.
- Accrual of interest on the account balance based on the results of the trades — up to 10%.
- Account history: 1 month.
This is a RoboForex account for professional traders. In the section about commissions we have established that the commissions on it are on average lower than on the Standard account.
4 trading platforms: МТ4, web, iOS, Android.
- Available account currencies: rubles, gold, USD, EUR.
- Instruments available for trading: cryptocurrencies, metals, 28 currency pairs, CFD on US stocks, CFDs on indices, CFDs on oil.
- Minimum deposit — 10 USD/10 EUR.
- Traded volume commission charged.
- Minimum deposit — floating, from 0 points.
- Minimum lot — 0.01 points, maximum lot — 500.
- Leverage — up to 1:300.
- Stop Out — 100% of the deposit amount.
- Cash back — 5% of the broker’s commission.
- Bonuses for RoboForex account deposit: not available.
- Swap-Free account: not available.
- One-Click Trading.
- Account history: 1 year.
- Accrual of interest on the account balance based on the results of the trades — up to 10%.
This type of the account is for professional traders, interested in very narrow spreads and instant execution of the orders. As we already specified, ECN (Electronic Communication Network) is an international network that allows traders to perform trades factually without the intermediaries. We also established that RoboForex conditions for ECN are loyal and better than those of competitors.
- 6 trading platforms: МТ4, МТ5, web, cTrader, iOS, Android.
- Available account currencies: RUR, gold, USD, EUR.
- Instruments available for trading: cryptocurrencies, metals, 36 currency pairs, CFDs on US stocks, CFDs on indices, CFDs on oil.
- Minimum deposit — 10 USD/10 EUR.
- Commission per USD 1 million traded.
- Spread — floating, from 0 points.
- Minimum lot — 0.01 points, maximum lot — 500.
- Leverage up to — 1:500 for МТ4, МТ5, cTrader platforms.
- Stop Out — 40% of the deposit amount.
- Cash back — up to 15% of the broker’s income.
- Bonuses for RoboForex account deposit: not available.
- Swap-Free account: not available.
- One-Click Trading available.
- Account history: 1 year.
- Accrual of interest on the account balance based on the results of the trades — up to 10%.
This is a unique type of RoboForex account designed for traders planning to work on all financial markets of the world. It is distinguished by lowest commissions and availability of 12,000 trading instruments.
Also specialized R Trader platform for automated trading must be highlighted. It features a built-in option titled Trading Strategy Builder, which allows to create and test a trading bot using historical data without special programming skills. The builder is a unique feature of RoboForex.
- Platform: R Trader multi-asset platform.
- Available account currencies: USD, EUR.
- 12,000 instruments: indices, real shares, cryptocurrencies, metals, CFDs on stocks, Forex and ETF, CFDs on oil, CFDs on metals.
- Minimum deposit — 100 USD/100 EUR.
- Commission charged: from 0.0045 USD per share, 0.30% per cryptocurrency, 15 USD per 1 mln of base currency on Forex, variable on indices.
- Spread: from 0 points on cryptocurrency and Forex, from 0.000 on CFD on EU stocks, from 0.01 USD on US stocks and CFDs on US stocks, from 0.5 on indices.
- Minimum and maximum volume: without restriction
- Leverage: 1:2 — US stocks, up to 1:20 — CFDs on US stocks, up to 1.5 — CFDs on EU stocks, 1:1 or 1:50 — cryptocurrency, up to 1:200 — Forex, 1:100 — indices.
- Stop Out — 20% of the deposit amount.
- Cash back: not available.
- Bonuses for RoboForex account deposit: no.
- Swap-Free account: yes.
- One-Click Trading: not available.
- Account history: not available.
- Accrual of interest on the account balance based on the results of the trades: not available.
Unlike many other brokers, RoboForex offers different versions of a demo account.
- Demo using MT4. Corresponds to the conditions of Prime accounts.
- Demo using MT5. Corresponds to the conditions of ECN accounts.
- Demo Pro. Corresponds to the conditions of Pro-Standard accounts.
- Demo R Trader. Corresponds to the conditions of namesake accounts.
- Demo Pro-Cent. Corresponds to the conditions of namesake accounts.
When using a demo account, you are not required to make a real deposit on your RoboForex account.
Demo account is recommended for:
- Learning trading without the risk of losing your own money.
- Checking conditions of the account type before making the final choice.
- Testing new trading strategies or signals.
Comparison of RoboForex accounts showed that ECN and R Trader have the most beneficial conditions. ECN is notable for increased reliability, while R Trader has the lowest commissions, specialized terminal for trading automation and 12,000 trading instruments.
Deposit and withdrawal methods
RoboForex offers several options for base currency of the account and deposit and withdrawal of funds using several dozen payment systems. The main drawback is that there is no perfect method for withdrawal. There are either amount restrictions per withdrawal or a withdrawal fee.
Base currencies of the account
RoboForex offers several base currencies for the accounts, which is very convenient, if you are trading assets in different currencies. The main available options are USD, EUR. On Standard, Prime and ECN accounts, also rubles and gold are available as base currencies.
|Account type||Base currency|
|Standard||USD, EUR, RUB, GOLD|
|Prime||USD, EUR, RUB, GOLD|
|ECN||USD, EUR, RUB, GOLD|
|Pro-Cent||USD, EUR, GOLD|
|R Trader||USD, EUR|
Comparison of the number of base currencies with the competitors
|Number of base currencies||Up to 4||Up to 60||2|
As we can see, currency accounts on RoboForex are not as diverse as on Exness, although better than on Forex4You. Noteworthy, a larger number of base currencies means lower costs of conversion.
RoboForex options and commissions on deposits
As we’ve already mentioned, deposits on RoboForex are not charged with fees regardless of the method your choose. You can deposit money via your profile after opening an account.
Let’s compare methods of deposit with the competitors.
How to withdraw money from RoboForex?
To withdraw funds from RoboForex, you need to:
- Open your profile and choose Withdraw Funds
- Select from the list of payment systems the one you need
- Press Go
- Fill out additional information for withdrawal on the next page
Withdrawal from RoboForex is not instant. Processing of the request may take up to two business days. Such slowness in processing requests is not a strong point of the broker.
In the section about commissions, we noted that not all methods of withdrawal from RoboForex are commission-free. Below are print screens with exhaustive information, where not only the withdrawal fees from RoboForex are specified, but also amount restrictions per transaction as well as timeframes. All data below are specified for the users from Russia.
Mobile network operators
Review of trading platforms
RoboForex offers its clients a possibility to use different platforms. There are MetaTrader 4 and MetaTrader 5, the classic forex platforms all brokers offer, while there are also CTrader and R Trader, proprietary RoboForex platforms with options of simplified construction of your own trading robots.
This has been the main ‘workhorse’ of the forex trading for many years. The interface is user-friendly and easy to understand even during learning, which makes it extremely popular among new traders. It also allows for development of bots using Metaweb Query Language (MQL).
Key features of MT4:
- 3 types of order execution.
- One-click trading.
- Possibility to program trading robots for automatic work.
- Access to trading advisors and signal indicators.
- Simplification of fundamental analysis by information received directly at the platform.
RoboForex officially offers different versions of MT4 platform, available for Android, iOS, browser, and also desktop version.
The platform offers 50 indicators for simplified technical analysis. The main instruments of graphical analysis are built into the platform.
Video guide how to build your own MT4 robot
This is an upgraded and improved version of MT4. The platform features advanced technologies of distributed computing and high-speed order execution. It is suitable both for the classic trading and for creation of advanced trading robots and non-standard strategy testing.
- 4 types of order execution.
- 6 types of deferred orders.
- Availability of multicurrency tester for expanding trading prospects.
- A clear indicator showing the real depth of the market.
- Availability of virtual hosting lease directly on the platform.
- Specialized MQL5 medium for trading robot optimization.
- Separate recording of orders and transactions in a hedged system.
For convenience and trading without being tied to a specific place, you can use mobile, desktop or browser version of the trading platform. RoboForex offers different version of the platform suitable for all devices.
This is a more advanced proprietary platform offered to the holders of ECN and Pro-Standard accounts. It offers a set of instruments that supplements the typical features of MT4 platform.
- Availability of rare types of orders MetaTrader does not have.
- Level II Pricing.
- Improved functionality for trading robots development.
- 54 technical indicators.
- Deep customization to dozens of timeframes.
- Possibility of point control over positions.
- Programming of unique trading robots in C#.
- 9 types of interactive charts for a comfortable working space.
- Customization of the lists of instruments to fit every strategy.
Below is a page for robot development on RoboForex’s CTrader platform. As you will see, the windows for development of trading strategies, their testing and optimization are conveniently placed in one section.
There is a detailed order customization feature, which also allows to set Trailing Stops
Using the standard features, you can also copy third party’s strategies.
For this, you will be redirected to a special web-page. The system shows colossal ROI. It is not possible to check whether the data is true, as that would require at least a month. Let’s just says that the figures of over 2,000% should not drive traders crazy, as they look very unrealistic. The most profitable algorithmic fund in the U.S. with the world’s top mathematicians on the team shows no more than 60% per annum.
The mobile version provided by RoboForex officially supports 22 languages and features a notification system inside the application. cTrader can be downloaded for iOS, Android or operating system on your PC. The broker also has a browser version of the platform at ct.roboforex.com: you can access this RoboForex product by entering your login and password you chose during registration.
There is no need to download and install the platform – you can open it with one click from the broker’s official website or from your profile. The platform is provided for the traders, who open the namesake trading account.
We tested the possibilities of R Trader and would like to say that although it is positioned as a platform for professional traders, you can only construct simple strategies on it. Practice shows that strategies based on indicators require continuous control and trader’s involvement.
- Built-in technical indicators (13).
- Graphical analysis tools (9).
- Free access to analytics from RoboForex experts.
- Instant deposit without logging into your account on the website.
- Improved possibilities of MT4.
- Real-time quotation monitoring.
- Zero-fee for using the platform.
There is also R Mobile Trader platform available for iOS and Android.
Noteworthy, you can view web platform of R Trader even without registration. Very few brokers offer such option.
Nevertheless, the Trading Strategy Builder is the key feature of the RoboForex platform.
You can use it to automate trading in just three steps:
- Build your own trading strategy or use a pre-designed template strategy.
- Run tests, make adjustments if necessary, adjust to different markets.
- Launch the algorithm.
R Trader is suitable for working on all markets and provides a trader with access to over 12,000 financial instruments directly from the browser. The interface allows to save personal settings and makes it convenient to work with the platform and algorithms. RoboForex provides dedicated 24-hour support to all those using the Builder.
RoboForex provides its customers with a good choice of instruments for obtaining and analyzing market information, including several modern trading platforms with a worthy set of features for chart and statistics analysis as well as news and analytical reviews.
Analytics on the broker’s website
In the Forex Analytics & Forecasts section, around 5-7 reviews on technical analysis are published daily. In particular, the charts are analyzed using the following methods:
- Candlestick charts
- Fibonacci retracement levels
- Murray levels
- Ichimoku Cloud
The broker also publishes reviews of main news, although they can hardly be considered analytical.
RoboForex Analytics Center
Using your personal account, you can also access Analytics Center of the broker.
You can find the following useful information in 13 languages:
- Video reviews
- Analytics and signals newsfeed
- Signals of technical indicators BBands, Ichimoku, MA10, MA20, MA50, MA100, MACD, Stochastic, William’s і ZigZag, and also market mood indicator
- Learning materials from MetaQuotes, where you can also find pre-designed trading strategies and useful video lessons
- Advanced tools for analyzing statistics: calculating pivot points, historical volatility, calculator of Fibonacci retracement levels
- Economic calendar.
The section features high-quality educational and informational content. Naturally, it mainly targets the fans of trading advisors, although there is a lot of other interesting information.
The Economic calendar is an efficient tool that contains up-to-date information about upcoming events in the financial industry. The calendar allows you to choose the countries and currencies that you are monitoring, which is a very useful tool. However, the RoboForex calendar is lacking filters to enable monitoring of specific type of news of high important. Also, there are no forecasts of analysts by events. For example, this function is available on Investing financial portal and others.
RoboForex offers a wide range of rather interesting and diverse learning materials and a demo account for all types of trading accounts for practice.
We have partially discussed learning on RoboForex, when we were talking about the broker’s analytics. Let’s review the main possibilities of how you can improve your professional skills.
Webinars and seminars
The calendar of webinars is available on RoboForex website in the Webinars and seminars section. Past events are available in the Webinar Archive.
The broker regularly holds a free educational course for beginners. In the course of three weeks, the company’s specialists and invited experts hold 8 lectures on the basics of trading, types of trading orders, peculiarities of platforms and mains strategies. There are also lectures dedicated to money management and trading psychology, which is often a weak spot even for the experienced traders.
There is a very useful and practical video course on the basis of stock trading on the broker’s website.
Many educational programs and daily analytics from the broker are available on RoboForex YouTube channel https://www.youtube.com/RoboForexCIS.
RoboForex customer support operates quite efficiently. You can contact the broker by phone, email, chat. The support is provided in 11 languages.
The multi-language support on RoboForex is available in 13 languages. Phones are the main channel of communication. Below are the contact numbers for different languages.
|English||+65 3158 8389|
|Arabic||+65 3158 8389|
|Spanish||+34 911 237 952|
|Chinese||+88 627 741 4290|
|Malaysian||+60 3 9212 2059|
|Portuguese||+55 61404 21173|
|Russia||8 800 200 97 57|
|Kazakh||+7 (727) 3257070|
|Taiwanese||+88 627 741 4290|
|Ukrainian||+0 800 501 840 +38 067 920 11 22|
|Czech||+420 228 885 018|
It is also possible to contact customer support using the Tickets in your account or order a call back in the Contacts section on the website.
We tried to confuse the customer support with a tricky question regarding the settings of the trading robot. The operator was unable to answer, but quickly found a consultant who helped resolve our issue.
Bonuses and promo
The broker offers a large number of permanent and temporary bonus programs. It is one of the leaders of our rating by their diversity.
The new customers of RoboForex receive a $30 welcome bonus after they pass verification and deposit funds on their account.
The client can withdraw not the bonus amount, but the earned income. The offer is available for traders, working on Pro-Standard and Pro-Cent accounts.
Profit Share Bonus
A bonus of up to 60% is accrued on deposits to one of the RoboForex Standard accounts. The bonus helps increase the volume traded, although only your own funds earned from trading are available for withdrawal.
- Rebate from RoboForex allows to win back a part of funds paid as commissions. The more the client traders, the high the amount of the rebate accrued by the broker. These funds are not considered a bonus and can be withdrawn.
- Up to 10% on account balance program is a type of cash back for active trading.
- Regular contests. The broker regularly has special promo campaigns for the best and most profitable traders with a rather decent prize pool
RoboForex is notable primarily for its technological savviness and suite of solutions for trading strategy automation. The broker has designed a special software product for algorithmic traders with attractive trading conditions, and a range of educational and analytical services. R Trader account for building bots offers the widest choice of instruments – 12,000.
Availability of ECN account with acceptable level of commissions is another advantage of the broker. At the same time, we cannot fail to point to a small number of trading instruments on all standard accounts. At that, the trading conditions in the base offers are considered average.
In terms of security, regulation is Belize, which does not provide 100% guarantee is considered the biggest drawback. However, 11 years of operation on the financial services market speaks in the broker’s favor.
NOTE!All fees, conditions and calculations are provided for demonstration purposes and may differ from the actual ones due to the changes in trading conditions, divergence of spreads or other factors. Contact the broker for more accurate and updated information on services and fees.
Real reviews of RoboForex 2023
Probably, you are writing about the account type Prime - Trading account type with the best conditions available at the company. It is suitable for both currency and other types of markets. If you are interested in Promotions, then you can choose from a large list of RoboForex regular promotions by going to the related section of our website. If you have any further questions, feel free to contact our 24/7 Help Desk. We will be happy to help!
Special accounts with competitive offers
i want to avail such offer, if i deposit $100 how to get any special offer on it ?
Your feedback contains no data necessary for us to handle it. In case you have any complaints against the Company’s operations, please contact our Dealing department via a ticket from your members Area.
I ve been testing their CopyFX for 3 months. Profit is already good +14%. Gonna add some extra money in.
I do not agree with the negative reviews, because I have never met a better broker than Roboforex. The company honestly fulfills all terms. Provides trading comfort and returns profit.
There is nothing to praise Roboforex for! I have repeatedly encountered failures in the work of their authoring platform. Tired of struggling with slippage. I leaked a $ 1000 deposit in just a couple of hours.
I liked the R Trader terminal from RoboForex. There is no need to download the software, everything is ready to use. Even though I'm a beginner, I was able to figure out the functionality quickly. Also, there is a constructor for creating simple strategies based on indicators, this is an irreplaceable thing!
RoboForex takes an incredibly long time to consider requests for withdrawal of profit. Transfer to a bank card sometimes I had to wait up to two weeks!
The verification process also strained me a little, so first I decided to practice on a demo account, and only then start real trading with RoboForex. I chose the one that meets the conditions of R Trader because in the future I plan to open this account. Everything is great for now!
Respect for the RoboForex support. I had a problem with verification (initially the company did not accept scanned copies of documents), the support helped quickly.
Good broker for beginners. You can start even at $100 and trade in the most interesting markets. They have good analytical reviews that really help.
Thanks for so detailed report! I've been tested R-Trader for 3 months, having 15% at moment. Not bad, at all. Gonna deposit extra capital in the nearest future.
It was my first trading experience with Robo. I lost a little money due to my own mistakes, so I have no complaints about the broker. Trading is just not for everyone. Maybe I should try to have passive income.
I've been trading in the currency market for more than 12 years and I feel like I can touch base on this topic very well. I've been with at least 7 brokers and believe me I have enough experience to understand that this broker is worth attention. Roboforex provides a lot of diffent assent, platforms, different investment options. Good trading conditions and friendly support are the part of high quolity service that defines a good company. This is my choice.
i writing from belorus and first of all i would like to apologize about my bad english tongue and i want to say that i am probably the first trader that didn’t lose money on forex. RboForex is a nice and fair brokerage company and i happy with this. they don’t try to hide the fact that their cent transactions do not go ona real market, but many company working like this and this is not something bad thing like everybody thinking. i started suddenly with have their special bonuses for writing on their forum and i used their education and opened deposit. withdrawals are quick. i think now to go to ecn account. good luck and don’t believe fakers.
I've just tested the new trading platform R Trader from RoboForex company. This is amazing! It has a really huge variety of trading instruments such as Forex, stocks, indices, cryptocurrencies, you can make any choice you want. But my favourite thing is the free algorithmic strategy builder. I've never used robots in my trading, it always seemed difficult to integrate it. R Trader is a chance to try algorithmic strategies without any programming skills and it's really cool! I'm happy that at least one company created such a great thing!
As for me, I've never faced any problem ever since I start to trade in roboforex. Actually I can say without any doubt that it's one of the most responsible forex broker I've ever been working with. Just last week, I withdrew a couple hundred dollars and it took not more than an hour before I received the payment.
not so long ago their manager cleared me for earnings withdrawing to webmoney. i closed all my orders and placed a request for withdrawal of my 170 dollars. my request was rejected because my turnover was small. they informed me that withdrawal is possible only to my bank account (only the one i used to place a deposit). nobody told me about this condition before. probably deliberately…for me it’s like this company doesn’t follow any standing conditions. i mean that they can change their policy every day and you never know if you can withdraw your money tomorrow. bad company. don’t deal with it!
According to the article 13.11 of Client agreement, if there is no sufficient trading volume on the trading account, withdrawals shall be made only to those payment systems, which are used to deposit this trading account. On your trading account was not sufficient trading volume, in this case withdraw have been made thorugh refund to your bank card.
At the moment all refunds has been executed and they should be on your bank card. If funds didn't come yet, please, contact with Billing departmnet via ticket from Member area for further investigation.
3 months in trading with this broker. some mixed impressions, you know... pretty nice trading conditions, fast withdrawals and many various trading tools. sure, this is great, but they have some big problems with slippages. prder execution sucks due to slippages. it is fine as long as it is only on news, but it happens on a tranquil market also! that’s too bad. i am serious. i thought i had already found a perfect dc, but these slippage ruined my dreams((( so i am still on a fence.
I am sick and tired of people leaving bad reviews about different brokers here. It’s not only about RoboForex, but many other time-tested companies. There is only one simple explanation of all this – dozens of suckers and newbies who have no idea about real trading. All this “traders” are used to trade on bucket shops with no slippages. But when they face real exchange market with they start carping about wide spreads or delays… Welcome to the real world of trading, ladies! It is cruel but fair. Don’t you like it? Go back to your comfortable bucket shops))).
Speaking about RoboForex – standard company with all its pros and cons. Sure they have some advantages against its competitors, but i don’t wanna go into details. At least this company is real and provides access to the interbank!