With RoboForex we would like to test an online broker today that has been on the market for five years now and is courting traders with an extremely impressive range of services. There are several account types for different needs and levels of traders. Depending on the account selected, you can then start trading at extremely favorable conditions and, if desired, with very low stakes. RoboForex ensures consistently high liquidity and extremely fast execution of all transactions. The traders are supported by an extensive range of information and education.
|🥇 Best Provider||RoboForex|
|⭐Rating||4.0 / 5.0|
|🐂 Underlyings||36 currency pairs, 2 metals, 6 CFDs|
|📈 conditions||depending on the account 0 pips or from 1.3 pips|
|💻 Software||MetaTrader 4 and MetaTrader 5|
|🏆 RoboForex||Play now!| ||76|
Anyone who, like us, regularly looks around the scene for online brokers will quickly notice that there is often a lot here is promised, but the actual quality only becomes apparent in day-to-day trading. A central criterion for evaluating an online broker should therefore also be its seriousness and reliability, which we will explicitly take into account in our experience. To anticipate: RoboForex is a trustworthy provider with a regular EU license and high standards for protecting customer funds.
Our experience at a glance
Not just for the trade itself Clients can expect the best standards at RoboForex, but also beyond. Depending on the selected account, the trading offer includes up to 36 currency pairs, as well as two metals and some CFDs on various indices and commodities. Special strategies can also be pursued, such as scalping, and there is also a wide range of EAs (Expert Advisors) available for automatic trading. We were also impressed by the offer beyond trading, where a professional trading calendar provides information about all important dates. Some offers can also be used for training in key trading techniques, including videos and webinars in Canadian.
|Company||RoboForex (CY) Ltd.|
|Address||4 Modestou Panteli, office 005, Mesa Geitonia, PC 4003, Limassol, Cyprus|
|Regulation|| |115||CySec (Lizenz-Nr. 191/13)|
|Telephone||+49 69 204 57 824|
The prerequisites for successful trading via RoboForex are therefore extremely good. In our test, however, we would now like to take a closer look at the offer. Above all, the conditions for trading via the individual accounts should be checked, as well as the specific trading offer. In addition, we want to find out whether a specific bonus can also be used at RoboForex. Other aspects of our test are the processing of deposits and withdrawals, the quality of the support offer and the general handling of the website and trading software. In the center of our analysis, however, we would first like to ask the all-important question of whether traders can fully trust an online broker like RoboForex. It should be safely ruled out that fraud or rip-offs must be expected here.
RoboForex: Fraud or not?
Before traders decide on a specific online broker, the question should be clear be clarified whether it is also a reputable representative. Two aspects in particular are of particular importance. For one thing, traders need to be confident that all transactions are executed fairly and under real market conditions. In addition, the security of the financial deposits is a central criterion. In both respects, the provider can convince with its standards. The company is registered at its main location in Cyprus. When processing financial transactions, RoboForex is integrated into a network of solid and trustworthy partners from the financial world. All of these features clearly show that a reputable partner for professional trading is available here. In our experience, fraud and rip-off are absolutely impossible.
RoboForex offer overview
RoboForex presents itself to its customers as a professional provider for leveraged trading of currency pairs, as well as commodities and CFDs. Which range of underlying assets is actually available and which leverage and additional instruments can be used depends on the account that the trader chooses. The same applies to the conditions to be observed when trading at RoboForex. We would like to address these aspects in more detail in this section.
Different account types are available
First a look at the account types at RoboForex . In addition to aForex demo account, which can also be used at RoboForex to initially test trading with all its possibilities risk-free and without own capital, there are five other account types to choose from. First of all, there are three classic live account types with the Robo.Pro, the Robo.Cent and the Robo.Ecn. There is no minimum deposit required for any of these models. In the first model, there are eight CFDs to choose from in addition to the 36 currency pairs and the two metals. The variable spread starts at an average of 1.3 points for the Pro and Cent models, whereby no commission is charged.
In the ECN model, you can trade at original market spreads, with a commission of 20 US dollars per one Million US Dollar trading volume is calculated. In addition to US dollars, euros and even gold can be selected as the account currency. In addition, there is the Robo.Rrime account model, which can only be opened with a minimum deposit of 5,000 US dollars. With variable spreads from 0 points, you can trade here with a commission of 15 US dollars per million trading volume. The R Trader model is available as a fifth account, where a total of 8,400 instruments from all areas can be traded.
RoboForex offers these instruments for trading
Except for the R Trader account, which is designed more for strategically oriented investors, RoboForex offers its customers a compact selection of attractive instruments. Depending on the account, this includes up to 36 currency pairs, two metals and some CFDs. The currency pairs are made up of the four most important currencies worldwide, namely the US dollar, the euro, the Japanese yen and the British pound. In addition, combinations are available in which Swiss francs, other dollar currencies such as the New Zealand dollar, Canadian or Australian dollar can be traded. You can also bet on the development of the Russian ruble, Turkish lira or South African rand via a RoboForex account. And Chinese yuan and Mexican peso are also available. In the metals section, the offer is limited to the two precious metals gold and silver – traders can also use CFD to speculate on the development of indices such as the DAX and Dow Jones as well as the oil types Brent and WTI.
Individual leverage per by level of experience
A crucial factor is the leverage that can be used in trading. However, no general information can be given here, since an individual leverage is initially determined for each trader when opening an account. To do this, a series of questions must be answered so that experience and knowledge in the quite risky trade on the Forex market can be assessed. In principle, depending on the instrument, leverage of up to 1:100 is available. However, inexperienced traders are initially provided with a significantly smaller leverage ratio. As trading progresses and the level of experience increases, higher leverage ratios can of course also be used.
No bonus at RoboForex
It is an instrument that seems to have been part of the basic equipment of an online broker for many years : the bonus. But the offer to customers to benefit from additional capital is now considered quite controversial. Many bonus models are structured in such a way that they ultimately offer hardly any advantage for the trader. With a so-called welcome bonus, you can initially trade with additional capital. However, the payment of possible winnings is subject to some restrictions. A high trading volume is required, so that customers may be motivated to make particularly risky trades. Play next toVarious online brokers Bonus variants also play a role, where you can benefit from additional educational offers, such as free webinars.
At RoboForex we didn't have any as part of our test of these bonus opportunities found. When opening an account, customers are completely free to decide how much capital they want to start with. As we will show later, numerous educational offers are generally available free of charge. The lack of such a bonus offer is not a disadvantage for RoboForex customers.
Deposits and withdrawals can be made quickly and free of charge, depending on the method
Who opens an account at RoboForex and with the If you want to start trading, if it is not a demo account, you need capital in your trading account. The provider offers a number of ways to deposit money into the trading account. It is absolutely positive that none of these variants is charged by RoboForex. However, there are differences in the duration that must be planned for such a transaction. A very quick and efficient method is to deposit by credit card. Visa and MasterCard are accepted. The paid-in capital is credited to the account after just a few seconds and can be used directly in trading. In addition, customers can also deposit with Skrill, Sofort, Neteller and some other online services - also free of charge and without delay. On the other hand, it takes much longer if money is transferred by bank transfer. The minimum deposit starts from 10 USD depending on the method.
|Payment Methods at RoboForex|
|Deposit Methods:||Credit Card, Wire Transfer, E-Wallets|
|Mindesteinzahlung:||from 10 US dollars / Euro|
|Accepted currencies:||Euro, US Dollar|
|Withdrawal Methods:||Credit card, bank transfer, some e-wallets|
There are also several methods to choose from for withdrawal, including credit card payment and bank transfer. With some of the online payment services, however, it is not possible to pay out. Exceptions are Skrill and Neteller, where fees of one percent and 1.9 percent are charged respectively. Credit card withdrawals incur a five US dollar fee, while bank transfer withdrawals can be made free of charge.
Top-level security and regulation
At RoboForex, traders can Rely on absolutely reputable conditions for security and regulation. As mentioned, the online broker is regulated at its headquarters in Cyprus. In addition, the provider has numerous international branches, including one in Kenya. The BaFin authority is therefore also responsible for monitoring the Canadian market. For traders, this means above all that they can initially rely on fair conditions when processing their transactions. The regulatory authorities also ensure that customers are not exposed to a disproportionately high risk. First of all, this is achieved through comprehensive education about the risks involved in trading. In addition, an individual level of experience is determined for each customer and the leverage for trading is adjusted accordingly. In addition, RoboForex offers its customers the opportunity to protect their trading account from a negative account balance. Positions are automatically liquidated if the worst comes to the worst.
The highest standards also apply to deposits that are transferred to the trading account. RoboForex works with the internationally renowned Barclays Bank and has customer funds managed in separate accounts. Financial bottlenecks or even an insolvency of the online broker would have no effect on customer funds. RoboForex's membership in the Investor Compensation Fund ICF protects customers' funds up to EUR 20,000.
Solid support from the support department
RoboForex makes great efforts to inform customers about to keep important questions about trade up to date. This applies both to current trading activities and to technical questions relating to individual trading accounts. The customer can always find out about upcoming market events and decisions via a trading calendar. A very extensive range of educational opportunities also makes it easy for traders at RoboForex to continuously build up experience and knowledge. Videos are available to provide basic knowledge. Current market reports and possible strategies are also presented in regular webinars. All these offers are available in Canadian. A Canadian-speaking support can also be used, whereby either telephone contact or an online chat are offered.
In general, RoboForex customers can also benefit from a Canadian-language and very intuitive and clearly structured homepage. It is not a problem at all to obtain specific information on questions relating to the trading offer, the conditions and the tradable underlying assets. The complex information is clearly presented in tables. Further questions can be clarified in the FAQ area. For trading itself, the established MetaTrader software is used, with versions four and five being available free of charge. In addition to the variants that are installed on the computer, the WebTrader can also be used as an alternative, so that trading is also possible flexibly and independently of your own computer.
Of course the provider also offers its customers the opportunity to access the account and implement trading decisions at any time of the day or night via a mobile app. Current versions are available for download for the iOS and Android systems for this purpose. On the basis of the MetaTrader 4 trading software, a variant optimized for the mobile device can then be used, which offers access to all underlying values and numerous instruments for trading.
Conclusion - RoboForex convinces with variety and top Conditions
With RoboForex, customers have access to an online broker for currency trading and some important CFDs, which also has a lot to offer beyond trading. First of all, the advantages of RoboForex include the variety of account types. So every trader will find a suitable model for his individual requirements. In principle, absolutely fair and competitive conditions are offered. This also includes the deposit and withdrawal options, which can be used free of charge depending on the method. A demo account is also available to test trading first. In order to continuously develop as a trader, various information and educational offers can be used. RoboForex was also able to convince us in terms of safety and reliability in the test.