RoboForex Broker Review 2023

These are especially useful for beginners as subjects covered include the market basics, technical and fundamental analysis, trading psychology and risk management. I like how the broker has some useful educational materials that are suitable for different skill levels of traders. There is market analysis, video tutorials, FAQs and trading tips. If education is important to you, then IronFX also have a great selection.

Compare RoboForex Features With Other Brokers

I tried to withdraw my initial deposit ($1000) just for the test and I got my money the same day. Currently I use Roboforex together with trading bot, everything is great. This comprehensive approach allows us to recommend the best brokers for different experience levels, trading styles and budgets. Unfortunately, the RoboForex wallet payment methods do not include PayPal. However, alternative e-wallet services Skrill and Neteller are supported.

R Stocks Trader

The tutorial videos cover a lot of topics that beginner traders will find useful, while the blog section covers topics like analysis, markets, and more. Customer service at RoboForex pleasantly surprised this reviewer. When using the live chat support option on RoboForex’s website, the response was almost immediate, which is remarkably fast compared to other online financial brokerage companies in this sector.

Pros and Cons

RoboForex’s proprietary platform, R StocksTrader, is designed specifically for stock trading. While it may not offer the same level of flexibility as MetaTrader platforms, it stands out with its integration of TradingView charts. I encountered varying commission rates for ECN accounts, ranging from $10 per round lot in the Prime account to $20 per round lot in the pure ECN account. Despite these relatively high commissions, RoboForex offsets the impact to an extent through rebates on commissions and earnings from STP trade spreads. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.

I have been working with this broker…

The registration process is also easy and the support is friendly and competent. Before opening a trading account, you must select a trading terminal. A trading terminal is a platform or software that allows you to access financial instruments and make trades.

Their banking contact resides in Lithuania and feels kinda scary these days, but research tells Lt. banks are fine though. Investors can receive up to 15% cashback on company revenue from spreads and commissions through the broker’s rebate program, with the percentage refunded based on trading volume. While the free monthly giveaway celebrating RoboForex’s 11th birthday ended in April 2022, the firm runs a monthly demo contest with a prize pool of $6,000 shared amongst the top-performing clients. That being said, the firm does take several measures to protect its traders, such as negative balance protection, an anti-fraud system and stringent KYC identity verification checks.

To qualify for a free VPS, clients need to maintain an account balance of at least $300 and produce a monthly trading volume of at least 3 standard lots. While RoboForex clients can login to their accounts, monitor positions and make wallet transactions at any time, open asset trading hours differ from market to market. The broker’s forex and CFD trading hours run 24/5, excluding holidays, while stocks, indices and ETF investments are available during their local exchange opening times. Clients can also partake in copy trading through the CopyFX platform, which works similarly to ZuluTrade. This allows you to imitate the positions of successful investors and traders, taking much of the manual labour out of investing.

Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system. This is my experience after working one year with 1- money deposit and withdraw is super fast. Only takes 10 min by crypto currency2- spreads and commission for Forex and gold is similar to other brokers but on stocks roboforex is King.3- charts on this broker is 100% valid. Our UK team takes a methodical approach to reviewing online brokers. Our experts also factor in their hands-on testing experience into broker ratings.

An investor may connect to an endless number of traders as long as his deposit is large enough to resist such a load. Because of this risk diversification, traders’ trades may be used to build a full-fledged investment portfolio. As a reputable brokerage company, RoboForex prioritises the security of client funds. The company has been a member of The Financial Commission and its Compensation Fund for several years.

All applications have free demo versions available in the market, allowing you to try them before purchasing them. Furthermore, some users enable their items to be downloaded and used for free. You can trade Forex, Stocks, Indices, ETFs, Commodities and Metals.

  1. Being in the EU, from experience withdrawing a large amount ON THE WRONG DAY, can be terrible expensive.
  2. The time until traders receive their funds depends on the payment processor, which can take ten business days.
  3. However, they do not have mandatory stop-loss and take-profit requirements.

MT4 is one of the most popular platforms used by new and experienced traders across the world. It has an intuitive interface and many built in features and tools for convenient trading. There is a large online MetaTrader community where users share ideas, templates, indictors and automated systems. The MetaTrader marketplace has a number of expert advisors (EAs), indicators and signals to choose from. RoboForex offers unlimited demo accounts for MT4, MT5, cTrader, and its proprietary trading platform. The RoboForex demo accounts allow traders to recreate trading conditions close to but not the same as those experienced in a live account.

The key differences among these accounts extend beyond their fee structures to include minimum margin requirements, leverage options, and specific conditions like margin call/stop-out levels. RoboForex is an established broker, with 15+ years in the industry and 40+ industry awards. It also maintains segregated accounts, distinct from the company’s own funds, adding a layer of protection for clients’ investments.

These accounts vary in numerous aspects, such as deposit bonus, rebate eligibility, available assets, execution type and leverage. RoboForex offers many robust features to ensure traders have everything they need for a smooth trading experience. For roboforex review instance, they allow automated (algorithmic) trading strategies via their R StocksTrader platform. They also allow hedging so traders can insure against potential loss. However, they do not have mandatory stop-loss and take-profit requirements.

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