Roboforex Review Is It A Safe Broker Or A Scam

When our clients deposit their trading accounts, the commission is always 0%. Choose the payment system according to your convenience, not cost effectiveness. ECN account type is intended for professionals, who prefer the best trading conditions with tight spreads. ProCent accounts provide an opportunity to trade micro lots and is best suitable for beginners, who want to test our trading conditions with minimum investments. I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets. RoboForex offers various bonuses including Profit Share Bonus, Cashback, Classic Bonus and deposit bonus in addition to regularly held contests. However, all bonuses are solely available for international clients trading with the Belize entity.

RoboForex Review

And in case you prefer the latest version of MetaTrader – MT5 is will allow the choice between net and hedge systems through 4 types of executions. In addition, MT5 features comprehensive analysis tools, market depth as well multi-currency tester all also featured with data from most professional sources like FxWirePro and Claws&Horns companies. Furthermore, apart from the numerous developed technologies, which offer solutions through trading, RoboForex performs a ContestFX – a contest project of a new type. Where Contests on demo accounts are held weekly and monthly while prizes are deposited to real trading accounts allowing you to start great trading carer.

Roboforex Copyfx Leverage Trading

When I sent them a message asking about why Skype wasn’t auto-filling, the live chat support was responsive and helpful. I only had to type in my Master Password once — after that, I chose to set up a fingerprint ID login. RoboForm also offers to let users log in with face ID or a PIN login.

It is running a lottery in which it will give away $1 million in prizes to winning traders. The lottery depends on the stock trades made by the traders during the lottery period. The lottery is going to run between October 2020 and May 2021. Here is the screenshot of the live spread being charged by Roboforex for major currencies. Hence, to give traders an idea of the kind of fees that are charged, we will be using certain benchmark examples. Hence, we consider Roboforex to be a safe broker for Malaysian traders. Additionally, Roboforex is also a participant of the Commission’s Compensation Fund.

Usually, the deposits made using electronic payment methods are processed instantly. For bank wire transfer the usual processing time is 1 to 3 days. Next, choose ‘account types’, trading platform, leverage, and preferred currency. Above all, RoboForex offers negative balance protection for its clients. It means if in case the market volatility pushes your account into a negative balance, the exchange automatically tops up the extra balance and settles it at 0. Roboforex is considered good and reputable to trade with Roboforex.

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. 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.

Bonus & Promotions

These identities have a ton of room for different details — I was able to include information like contact numbers, email addresses, and my Skype ID. There are 2 options for sharing a single password — Sharing and Send. If you lose your Master Password, your emergency contact can download all of your RoboForm information as a .CSV file. When you reinstall RoboForm — this time with a Master Password that you can remember — you can re-upload that .CSV and get all of your data and settings back. Similarly, if you ever forget your Master Password — which you REALLY shouldn’t do — you can ask your emergency contact to access your password vault on your behalf.

6 types of accounts are open to clients and they range from a minimum deposit of 10 USD/10 EUR/100 CNY to 5,000 USD. The website mentions that the broker has 800,000 clients in 169 countries.

The Security Center uses an open-source algorithm to evaluate passwords. This algorithm — called “zxcvbn” — has been proven to be more accurate than most password strength tools when it comes to analyzing how likely it is that a certain password can be hacked.

RoboForex Review

Also, the bonus program is highly recommended and can generate for you additional Foreign exchange autotrading income. Another great bonus is the Cashback program from RoboForex.

Ecn Account

Pleasure to trade with them, it’s win-win situation for both. Holding a license from IFSC is a huge advantage and shows your money is safe.

There are either amount restrictions per withdrawal or a withdrawal fee. This is a unique type of RoboForex Review RoboForex account designed for traders planning to work on all financial markets of the world.

Funding options include bank wire, credit card and online payment systems such as Neteller and Skrill. Please note that some methods may only be available to specific countries. RoboForex have a very large selection with over 9,400+ trading instruments from multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs. A VPS allows you to remotely run your trading platform 24/7 so that you do not always need your computer on. They are often used where there is the need to run an automated trading system around the clock or if the local internet connection is unreliable and you need minimal downtime. The trading calculator allows you to calculate your position parameters based on instrument, leverage, lot size and account currency.

RoboForex Review

A minimum deposit is the minimum amount of money required by Roboforex to open a new online brokerage account with them. Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with Roboforex like Forex trading, and CFDs trading. you should have confidence in Roboforex and know that the management of your financial investments on the Roboforex platform are in good hands. Roboforex allows you to execute a minimum trade of 0.01 Lot. Roboforex allows you to execute a maximum trade of 100 Lot.

Many novice traders do not know about this, so when faced with such unscrupulous companies, they are disappointed in Forex. The minimum deposit at RoboForex is just 10 USD for most account types, making it incredibly accessible as this is among the lowest minimum deposits you will find. The exception is R Trader accounts, which have a still very accessible minimum deposit of 100 USD. Roboforex offers a wide range of trading platforms for traders to choose from.

What We Don’t Like About Roboforex

Malaysian traders can deposit and withdraw their funds in a variety of ways. Here are the ways in which funds can be deposited and withdrawn from a Roboforex trading account. Deposit and Withdrawal Fees – Roboforex does not charge any deposit fees from its traders. Additionally, Roboforex also states forex that traders will be able to make all deposits without any commission. This means that Roboforex will reimburse the fees or commission charged by the payment service provider. Roboforex also allows two 0% commission withdrawals per month. This broker is less regulated than other comparable brokers.

Once you’re done with opening and verifying your trading account, you can deposit funds to your account following a few simple mouse clicks. Just choose your favorite payment method from the provided list by the broker, set the amount you want to deposit, insert password or security codes, and you’re done. The fund is instantly credited to your trading account without making any unnecessary delay. A pro-Cent account provides a trader with access to transactions with small sums of money because the monetary unit of this account type a cent (0.01 USD).

  • However, you can revoke Emergency Access at any time, even when your emergency contact already has full access to your RoboForm data.
  • For a brokerage to maintain these services and earn revenue as a company.
  • As for me, I’ve never faced any problem ever since I start to trade in roboforex.
  • Cons Licensing in Belize, a jurisdiction with low level of protection of clients of financial companies.
  • cTrader is often the choice for experienced traders who require rare types of orders, level II pricing and superior execution speeds.
  • RoboForex also accepts a wide variety of e-wallets for deposit and withdrawals.

RoboForex offers 5 different account types to facilitate its clients. These account types are Prime, ECN, R Trader, Pro-Cent, and Pro-Standard. Each account type provides unique features and varies based on the spread and product range. In total, over 12,000 financial products and 7 asset classes are in the broker’s portfolio. This makes a first good impression on us because only a few other brokers in this category offer such a wide range.

There is one strict condition – not to provide services to the citizens of Belize. 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. As you can see, as calculated per lot costs, the CFD commissions on Prime account are much lower than on the standard account. 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.

Deposit Options

However, you should keep in mind that this platform is far more sophisticated than any other we found during our forex, and you’ll be asked to pay higher commissions as well. With today’s review of RoboForex broker, we’ll try to determine whether you should trust this firm or stay away from it as much as possible. Here, you’ll find everything from the financial license all the way to trading platforms and payment methods, so, stick around to make a decision on your own. To trade in RoboForex started as a freshman four years ago.

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