Broker comparison – who is the best? In this article, we are introducing the broker RoboForex.
Inhaltsverzeichnis
What is behind RoboForex?
The online broker RoboForex LTD was founded in the year 2009 and is part of the Robo Forex Group Holding. The main office of RoboForex is located in Belize, a Central American country. Ever since its inception, the company has been able to register a constantly growing customer base. Having crossed the „1 million“ mark in 2015, the online broker can already boast of more than 2.3 million registered trading accounts in 2019.
RoboForex has also continued to expand its range of tradable instruments in the process. After adding six different asset categories with 8,000 trading tools to the portfolio between 2016 and 2017, the total number of all tradable instruments reached a colossal 9,400 in 2018 already. Ever since its inception, the mission of RoboForex has largely resided in providing its clients and trading partners with optimal prerequisites and conditions in their trading.
Awards won by RoboForex
In addition to which the RoboForex online broker has been honoured with a great number of awards in recent years.
The first renowned award went to the company as early as 2012, with RoboForex even winning several of them, including the „Best Forex Broker for Automated Trading“and „Fastest Growing ECN Broker Eastern Europe„. A whole string of prizes then followed in subsequent years, notably including the „Best ECN Broker” (at the 2016 IAFT Awards), „Safest Broker“ (at the 2018 London Investor Show) and „Best Crypto Broker“ award (at the 2018 Manchester Investor Show).
Regulation and deposit guarantee
The online broker is licenced by the IFSC Belize (International Financial Services Commission Belize) for „trading in financial and commodity-based derivative instruments and other securities„. The IFSC is a supervisory authority in Belize that is responsible for the financial services market on an international level.
Amongst other aspects, the remit of this authority also includes the issuance of IFSC licences and monitoring of offered financial services. This helps to ensure that the licenced companies act with the corresponding transparency and reliability. In the process, the companies need to meet many strict requirements before they can be licenced by the authority. In addition to which the IFSC Belize also hews to the international AML (Anti-money laundering) policy.
The online broker is also a participant of the Financial Commission (FC), which is tasked with resolving conflicts between its enterprises and their clients.
One important regulation of this Financial Commission concerns the protection of client deposits, besides other factors. The offered compensation fund guarantees client deposits up to a sum total of 20,000 euros for the event of a company insolvency. In this context, RoboForex also holds a corresponding quality certificate called „Verify My Trade„, issued by the Financial Commission to confirm their members‘ compliance with the requirements.
Tradable markets and RoboForex fees
Let us first take a look at the trading instruments investors can work with at RoboForex. The online broker has considerably expanded its portfolio in this respect in recent years, enabling it to offer its clients a broad range of different tradable instruments today.
Forex
First of all, clients can trade the Forex market around the clock from Monday to Friday. With a transaction volume of five trillion USD a day, it is not referred to as the market with the greatest liquidity for nothing.
General conditions:
- Currency pairs can be traded from as little as 0.0 pips
- RoboForex clients can trade with leverages of up to 1:2000, irrespective of their account
- Order fulfilment starts from 0.1 seconds and is thus faster than average
- RoboForex permits over 40 different currency pairs to be traded, including the popular main currency pairs, naturally
Shares
With a selection of over 9,400 stock CFDs of many major companies, RoboForex is very diversified here. Besides the giants like Amazon, Google, Facebook, etc, clients can also invest in many other international companies from England, Germany, the US, etc.
General conditions:
- RoboForex provides its clients with efficient tools for Technical analysis, which will also support the provision of online quotations, for example
- Shares can be traded with leverages of up to 1:20
- Clients can automate their trading activities by setting up Trading robots
Indexes
Indexes are composed of several different shares and reflect their price development. RoboForex also offers comparatively good trading conditions here.
General conditions:
- Indexes can be traded with very tight spreads starting from 0.0 pips and without margin
- The high execution speed starting from as little as 0.1 seconds can also be highlighted here
- RoboForex allows more than ten different indexes to be traded
Cryptocurrencies
Given the significant price developments in the cryptocurrency sector in recent years, RoboForex is now also offering the option of trading digital currencies. Besides the popular cryptocurrencies such as Bitcoin, Ethereum and Ripple, various other interesting digital currencies can also be traded at the online broker
General conditions:
- RoboForex provides its clients with CFDs for 26 different cryptocurrencies to choose from
- Digital currencies can be traded 24/7
- The maximum leverage permitted for cryptocurrency trading is 1:50
Besides the normal cryptocurrency trading, RoboForex also offers the option of investing in crypto indexes. With Crypto.TOP and Crypto.ALT , the online broker provides two tried-and-tested trading instruments in this regard.
Commodities
Agricultural commodities, metals and oil can also be traded at RoboForex.
General conditions:
- Agricultural commodities can be traded with leverages of up to 1:20
- RoboForex provides its clients with over 100 different agricultural commodities and over 20 different trading instruments in the metal sector to choose from
- Tradable energies (crude oil, natural gas, ethanol) allow leverages of up to 1:100
ETFs
Clients can further diversify their portfolios with ETFs, as well. The ETF market is currently experiencing steady growth too. Many forecasts also see its expansion set to continue, with annual growth rates between 15 and 30 percent expected.
General conditions:
- ETFs can be traded with very tight spreads starting from as little as 0.0 pips
- ETFs can be traded with leverages of up to 1:20
- Users can choose from more than 1,000 different ETFs at RoboForex
Which trading platforms can I choose from at RoboForex?
When it comes to Trading platforms, the online broker can offer a massive five different ones to choose from. Besides the classic MetaTrader 4 and MetaTrader 5 online platforms, they also include the platforms cTrader, R Trader and RoboForex Terminals. See below for a brief introduction of the available platforms.
MetaTrader 4
MetaTrader 4 is not the most-used online trading platform without reason. The integrated functions and tools add significant value for both novices and more advanced traders. The special features of MT4 especially embrace the following aspects:
- MetaTrader 4 offers three different types of order fulfilment
- The 1-click trading will help you save precious time
- 50 Indicators for technical analysis are available for use
- The software provides essential tools for graphical analysis
- Clients can use MT4 to program their own individual trading robot (MQL 4)
In addition to all this, there is also the mobile MT4 version, enabling investors to trade from anywhere at any time.
MetaTrader 5
The progressive MetaTrader 5 trading platform is also on available at RoboForex as MT4’s successor. MT5 offers a number of very advanced technologies and functions for setting up trading robots and trading strategies. The advantages and features of MetaTrader 5 at a glance:
- MetaTrader 5 offers four different types of order fulfilment
- There are six different types of outstanding order on offer
- With its netting and hedging systems, market depth and separation of orders and transactions, MT5 offers a flexible trading system
- Over 1,500 expert advisors and technical indicators
On top of which the MT5 trading platform also provides you with a mobile terminal.
cTrader
The cTrader trading platform is particularly recommended for advanced investors attaching importance to fast order fulfilment. In addition to which the platform also offers alternative instruments for developing and implementing Trading strategies. cTrader is most of all distinguished by the following features:
- cTrader makes rare order types available to its users
- It integrates 54 different technical indicators
- 14 selectable time frames
- Nine different types of interactive chart
- Allows you to create an individual list of preferred instruments
The mobile application of cTrader also comes equipped with a number of interesting functions.
All the unlimited potentials of the cTrader terminal in an iOS/Android-based mobile application. The mobile interface of the operating system can be set to 22 different languages and also offers a user-friendly chart management to boot. In addition to which important messages are provided directly in the application.
R Trader
The „Multi-asset terminal R Trader“ combines cutting-edge technologies with an unpretentious design. Traders are able to access all financial markets worldwide by way of a web terminal.
- Easy-to-operate user interface
- The minimum deposit is 100 USD
- R Trader offers „expanded watchlists“
- Trading robot construction kit as a helpful tool for automating your trading
- 1-click trading is possible, and direct trading from the chart
RoboForex terminals
RoboForex terminals refers to the R WebTrader web terminal and R MobileTrader mobile application and is particularly recommended for investors who spend most of their time on the move. This is not an own platform, but an application enabling you to trade on the MT4 platforms with the latest tools. Amongst others, these tools include:
- A selection of 13 technical indicators
- 9 tools for graphical analysis
- Uncomplicated user account management
- Analyses provided by RoboForex experts
- The application is not linked with any costs
Users can meanwhile use the web platform or mobile application as they wish. They can even switch between their accounts quickly and much more easily than in the MetaTrader 4 platform. Changing between different accounts will only take 2 seconds. And opening an entirely new account no more than five minutes.
Account types and RoboForex fees
RoboForex offers a very wide selection where account types are concerned, offering its users various options catering to their individual requirements. Which is why the available account types shall be briefly introduced here, with details of the respective fees.
Pro-Standard
The Pro-Standard account is the most popular account variant at the RoboForex online broker to date. This account is recommended for novices as well as experienced investors in the financial markets.
| Minimum initial deposit | 10 euros |
| Account currencies | USD, EUR, CNY, BTC, ETH, GOLD |
| Tradable markets | 36 currency pairs, commodities, CFDs, cryptocurrencies |
| Required margin (base currency units) | 1% |
| Spread | Variable spreads starting from 1.3 pips |
| Maximum leverage | 1:2,000 |
| Minimum order volume | 0.01 lots |
| Withdrawal costs | None |
| Selectable platforms | MT4, MT5, cTrader, WebTrader |
| Commission | None |
ECN-Pro
The ECN-Pro account is most of all recommended for advanced traders wishing to benefit from the best trading conditions and very low spreads.
| Minimum initial deposit | 10 euros |
| Account currencies | USD, EUR, CNY, BTC, ETH, GOLD |
| Tradable markets | 36 currency pairs, commodities, CFDs, cryptocurrencies |
| Required margin (base currency units) | 3.33% |
| Spread | Variable spreads starting from 0,0 pips |
| Maximum leverage | 1:300 |
| Minimum order volume | 0.01 lots |
| Withdrawal costs | None |
| Selectable platforms | MT4, MT5, cTrader, WebTrader |
| Commission | 20 USD |
Prime account
The selectable Prime account type is usually reserved for experienced investors wishing to rely on the optimal features of ECN accounts.
| Minimum initial deposit | 5,000 USD |
| Account currencies | USD, EUR, CNY, BTC, ETH, GOLD |
| Tradable markets | 28 currency pairs, commodities, CFDs, cryptocurrencies |
| Required margin (base currency units) | 10% |
| Spread | Variable spreads starting from 0.0 pips |
| Maximum leverage | 1:100 |
| Minimum order volume | 0.01 lots |
| Withdrawal costs | None |
| Selectable platforms | MT4, WebTrader |
| Commission | 15 USD |
Pro-Cent account
In the Pro-Cent account, traders can test their new strategies with low amounts to start with.
| Minimum initial deposit | 10 euros |
| Account currencies | USD, EUR, CNY, BTC, ETH, GOLD |
| Tradable markets | 36 currency pairs, commodities, CFDs, cryptocurrencies |
| Required margin (base currency units) | 0.1% |
| Spread | Variable spreads starting from 1.3 pips |
| Maximum leverage | 1:2,000 |
| Minimum order volume | 0,1 lots |
| Withdrawal costs | None |
| Selectable platforms | MT4, MT5, WebTrader |
| Commission | None |
R Trader
R Trader combines a timeless design with high user-friendliness, as well as cutting-edge technology.
| Minimum initial deposit | 100 USD |
| Account currencies | USD, EUR |
| Tradable markets | Over 9,400 stocks, indexes, forex, ETFs, cryptocurrencies |
| Spread | Variable spreads starting from 0.01 USD |
| Maximum leverage (in-session) | 1:200 |
| Maximum leverage (pre- and post-session) | 1:4 |
| Minimum order volume | 1 share |
| Withdrawal costs | None |
| Selectable platforms | R Trader |
| Commission | 0.015 USD per share |
Demo account
A demo account is most of all recommended for testing new trading strategies without the need to run a financial risk. In addition to which it also helps users familiarize themselves with the conditions of real money accounts. In this respect, RoboForex has two different types of Demo account to offer, with Demo Pro on the one hand and just Demo on the other.
| Demo Pro | Demo | |
| Tradable markets | 36 currency pairs, commodities, CFDs, cryptocurrencies | 36 currency pairs, commodities, CFDs, cryptocurrencies |
| Required margin (base currency units) | 1% | 3,33% |
| Spread | Variable spreads starting from 1.3 pips | Variable spreads starting from 0.0 pips |
| Maximum leverage | 1:2,000 | 1:500 |
| Minimum order volume | 0.01 lots | 0.01 lots |
| Selectable platforms | MT4, MT5, cTrader, R Trader | MT4, MT5, cTrader, R Trader |
Deposits and withdrawals at RoboForex
If you wish to make a deposit in your own account as a client, or withdraw money from it, the online broker can offer you a number of different payment options including various electronic payment methods, besides the classic bank transfers. They are shown in a table here for greater transparency. Deposits and withdrawals by bank transfer are subject to the same conditions initially.
| Payment method | Fee | Currency | Processing time |
| GiroPay | None | EUR | From 1 minute to 1 day |
| SOFORT | None | EUR | From 1 minute to 1 day |
| Rapid transfer | None | EUR | From 1 minute to 1 day |
| Trustly | None | EUR | From 1 minute to 1 day |
| VISA/Mastercard | 2.6% + 1 euro | USD, GBP, EUR, CHF | Deposits immediately, withdrawals 1-10 banking days |
The conditions somewhat differ with the electronic payment methods, however. The fees incurred here all relate to the withdrawal process.
| Payment method | Fee | Currency | Processing time |
| Skrill | 1% | EUR, USD | Deposits immediately, withdrawals up to 1 day |
| Neteller | 1.9% | EUR, USD | Deposits immediately, withdrawals up to 1 day |
| WebMoney | 0.8% | EUR, USD | Deposits immediately, withdrawals up to 1 day |
| Perfect Money | 0.5% | EUR, USD | Deposits immediately, withdrawals up to 1 day |
| AdvCash | 1% | EUR, USD, RUB, KZT, UAH, GBP, BRL | Deposits immediately, withdrawals up to 1 day |
Promotions at RoboForex
Let us now turn to another unique feature of RoboForex, namely a number of promotions available on the website that the online broker’s clients can benefit from.
Profit Share Bonus
The first to be mentioned here is the Profit Share Bonus. This special programme can help clients increase the amount paid in as a first deposit to open the account by up to 50%. The amount of the Profit Share Bonus depends on the total deposit made. Clients depositing up to USD 300 will receive a bonus of 25 %, and above that a whopping 50 % of the paid in capital. The Profit Share Bonus will only kick in with the account types Pro-Standard and Pro-Cent on the MT4, MT5 and WebTrader platforms, however. Clients can then use the received bonus to cushion any losses of their own capital, for example, or also to enlarge their position.
Cashback (rebates) service
The Cashback programme offers users another interesting opportunity for generating additional income. This is possible with all the RoboForex account types available on the MT4, MT5, cTrader and RAMM trading platforms. As a client, it will provide you with a monthly rebate corresponding to the „volume of closed positions„. And as this is not a bonus payment, it can also be used as you wish without restrictions.
The illustration below provides a brief overview of the rebate percentage available for monthly trading volumes.
Rebate (cashback) percentages at RoboForex
Percent on account balance
In addition to this, RoboForex offers its clients a regular extra income of up to 10 % with all the available account types. And as this is no bonus either, clients can do with it whatever they like. All they need to qualify for this percentage is a specific trading volume. In detail, the additional amounts credited to the account are based on the traded lots as follows.
- 2.5 % for 1 – 10 lots
- 5 % for 10 -1,000 lots
- 10 % for more than 1,000 lots
Free VPS server
The VPS servers at RoboForex are particularly helpful for clients who have largely automated their Trading systems and thus depend on an optimal connection with the trading servers. This service is available to all verified clients with a minimum of USD 300 in their trading account.
The VPS servers enable permanent reliance on the Expert Advisors without the device needing to be switched onfor this.In addition to which the trading process is no longer at the mercy of the client’s own internet access as the VPS servers will always ensure an optimal connection.
Training at RoboForex
RoboForex can also offer interested investors and clients a number of benefits when it comes to their further training. Besides a transparently designed FAQ register giving answers to essential questions about trading at RoboForex, there is also a whole series of training videos for the clients‘ benefit. The videos provided by RoboForex in their Analytics Centre are most of all designed for trading novices, as their tutorials mainly explain the trading basics and various areas of the technical and fundamental analysis.
Apart from this, viewers are also provided with helpful information about the subject area of risk management, and the psychological aspects of trading. On top of which the videos are available to registered users for free in the customer section.
Customer service at RoboForex
At this point, a few words should also be said about the customer service at RoboForex. With ten different languages, the customer service at RoboForex is relatively diversified. Support can be provided on the phone, by e-mail, WhatsApp or using the live chat on the website. In addition to which the support is available to handle clients‘ questions and queries 24/7.
The service teams will usually respond swiftly, and come up with a competent answer.
Experiences with RoboForex
The experience-based reviews of the RoboForex online broker available on the internet are mostly positive. Especially the wide range of trading instruments and fair conditions are positive. Also of interest are the large selection of different account types and various trading platforms available with this online broker, not to forget the attractive promotions and bonus programmes RoboForex clients can benefit from.
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