It has been observed that most of the people are now shifting toward online trading, i.e., buying and selling stocks through apps or computer software. As per the data, around 15 million people in the United States are now using online trading services. Such a form of trading enables traders to take all the trading decisions by themselves. This approach to trading is quite different from using a broker. You will find a lot of online brokers to start your trading activity. But when it comes to a few best ones, you can always go for RoboForex.
In this roboforex review, you will get to know some major things about roboforex. Keep reading to discover more about everything the platform offers.
RoboForex was established in the year 2009 and is located in Belize. Until now, the platform has more than 73,000 clients. It claims to offer different types of services and high-quality online trading conditions.
It has more than 12,000 tradable instruments along with eight different asset categories. It includes more than 1000 ETFs, around 11,700 stock CFDs, 40 currency pairs, and cryptocurrency CFDs. As per the roboforex review, the platform is highly safe and easy to use.
The platform also offers a negative balance protection service to prevent traders from losing all their money. The best thing about RoboForex is it lets the traders enjoy the “Free Funds Withdrawal” feature.
Is a broker a scam?
You might have heard some people telling about RoboForex has stolen their money, or the platform is not letting them withdraw their money, etc. Well, all such issues are temporary and happen due to technical issues. The company or broker is not a scam and never steal your money. It may be noted that it is regulated by IFSC Belize, with license No. IFSC/60/271/TS. Besides, it is also a part of the Financial Commission.
Moreover, the company comes in the “A” category and also a part of The Commission’s Compensation Fund and offers protection up to €20,000 per case.
On the other hand, the company has also received a lot of awards. In the year 2019, it won the Best Investment Platform, the Best Broker of the CIS award, the Best Investment Products Global, and the best Educational-Forex Center in the CIS award. So, when it comes to trading without any worries, you can completely trust RoboForex.
Registration and authorization
The process of opening an account with roboforex is quite easy. All you need to follow the on-screen instruction, and you are ready to go. However, to make it simple, here we have mentioned steps to open an account.
First, visit the official website of Roboforex and click on the “Open an account” option. You will be redirected to a page where you need to provide all your personal information, like name, email ID, contact number and all. After that, click on the “Next Step.”
Completing the Members Area
Here you will see the details about your wallet where you will keep your money. Below the wallet option, you need to choose the trading platform, account type, leverage, and currency. You can choose from roboforex mt4, mt5, WebTrader, and cTrader options. After that, fill up the additional information section and hit “Confirm.”
Verification of the account
For this, you need to click on the verification link. When you click on the link, you will see your status as “Unconfirmed.” There you need to confirm your e-mail address. You will get a confirmation link in your e-mail id. You will receive three e-mails. One email will show the members’ login details, second mail will show roboforex mt4 trading account details, and the third one will come with a confirmation link.
You need to click on the confirmation link. Once done, your status will appear “Confirmed.”
Address and identity verification
Here you need to upload all the documents which will be utilized for data verification. For this, you need to complete two basic steps. One is passport verification and address verification. You can upload the documents by clicking on the “Choose file” option. Once done, click on “Send.” Now you are all set to download the Roboforex mt4 trading platform.
Are you using the platform for the first time? If yes, then RoboForex’s demo account will be very useful for you. Using the demo account, the new traders can learn all the basics things about trading without investing their money. You can also witness the roboforex market maker business model while using the demo account.
Besides, it is also useful when you want to evaluate the condition offered by the broker without opening a trading account.
The demo account offers all the features that a real account offers. Another best thing about this is, the users can enjoy the benefits of the Rebates or Cashback program, which lets the traders earn some extra money. You can open a RoboForex demo account without paying any fee, and it is valid for 90 days.
The assets that you can trade using a demo account are stocks, indices, ETFs, forex, energies, metals, soft commodities, and cryptocurrencies.
After completing all the required trading operations on a demo account, you can confidently use the real account. RoboForex offers three different types of demo accounts. These are:
- Demo Pro: This account replicates all the parameters and features of Pro-standard accounts. Talking about the maximum leverage, it is 1:2000 and supports USD currency.
- Demo: This account is similar to the roboforex procent account, MT5, and MT4 accounts. The maximum leverage for MT4 is 1:500, and for MT5, it is 1:300. It lets the traders trade 36 currencies, cryptocurrencies, CFD, and Metals.
- Demo R Trader: The account gives traders access to the global market. It has a maximum leverage of 1:200. You can trade CFDs on stocks, indices, forex, stocks, and cryptocurrencies.
Deposit and commission
The minimum deposit can vary from one account to another. As per the company, for the R Trader account, the minimum deposit is USD 100 or EUR 100. On the other hand, for ECN-Pro, Pro-standard, and Pro-Cent, you need to make a minimum deposit of $10 or EUR 10. Coming to the Prime account, the minimum deposit amount is USD 5000.
You can make the payment through different methods. The traders will not be charged for deposits. However, the payment methods include WebMoney, QIWI, Skrill, Fasapay, Neteller, ePayments, POLi, bank transfers, and visa or master card.
Speaking about the commission, RoboForex doesn’t charge any commission.
Bonus and promotion
There is good news for new clients. RoboForex gives USD 30 to all the new clients as a welcome bonus. To get the bonus, you need to fill up the forms and complete the verification process. Then you will have to deposit USD 10 through credit or debit card. You can’t use other payment methods here.
On the other hand, traders can get around USD 50,000 for deposits based on the deposited amount. It may be noted that this is only available for Cent and standard accounts.
The clients of RoboForex can now withdraw funds from their trading account without paying any commission for two times in a month. The trader can initiate the withdrawal process from their Members are. For this, click on “Withdraw Funds.” Then you need to select the payment system from the available options. Now click on “Go to.” The application for withdraw is generally processed within two working days. It offers a fast withdraw process.
Company name: RoboForex Ltd.
Address: 2118 Guava Street, Belama Phase 1, Belize City, Belize
Phone number: +6531588389
Reviews of traders
- I am using the platform for the last six years, and I am really enjoying it. A few days back, I faced an error while depositing the money, but the customer support team solved the issues within just 24 hours. The response was quite fast. The thing that I like the most about RoboForex is its demo account. Even though I am a professional trader, I still use the demo account to learn a lot of new things and to evaluate the new trading strategies. The account is valid for 90 days, which is great. I will definitely suggest others to try out this trading platform. – Derick Carly.
- I am a professional forex trader and working with roboforex since 2015. I can say that it is an honest broker. I have never faced any kind of issue. When I submitted my withdrawal application and got the money within just two working days. Thank you for offering such a fast withdraw process. One hundred percent recommended. However, I will advise others to go through the guide for better understanding- Iliana Lopez.
- When it comes to choosing the best online broker, it will always prefer to choose RoboForex. The platform is super easy to use and comes with a lot of unique and useful features. You all should try out this platform to know why it is different from others. – Kabelo