Roboforex Review 2020

Roboforex Rated 4/5
Roboforex Screenshot

Roboforex Guide

Roboforex are an online broker founded in 2009 offering Forex trading, and CFDs trading.

Roboforex are a global broker and have a head office in Cyprus.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Roboforex we break down the pros and cons. What Roboforex are able to offer, what countries Roboforex are available in. Who Roboforex are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with Roboforex

Open Roboforex's Website

Losses can exceed deposits

At the bottom of this review you can also learn about some pretty good alternatives to Roboforex

With this review we hope to help you see if Roboforex is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Roboforex that will help you get off to a good start in the world of online trading.

Roboforex Review Table of Contents

Roboforex what you should know

Roboforex offer two ways to trade: Forex, CFDs.

With Roboforex you will need a minimum deposit of $1. You can sign up for a demo account to acquaint yourself with Roboforex platform.

Roboforex are able to accommodate various levels of traders whether you are experienced or a beginner.


Are Roboforex safe?

When choosing a broker like Roboforex the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2009, and in operation for 11 years Roboforex have a head office in Cyprus.

Roboforex is regulated. This means Roboforex are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Roboforex, this will be honored. If Roboforex violate any regulatory rules their regulated status could be stripped.

Any payments funded to Roboforex accounts by traders are held in a segregated bank account.

For added security Roboforex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Roboforex. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Roboforex

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker Roboforex IC Markets eToro XTB
Year Established 2009 2007 2006 2002
Head Office Cyprus Australia Cyprus, UK Poland
Regulation Cyprus Securities and Exchange Commission (CySEC) Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego
Used By 10,000+ 60,000+ 12,000,000+ 250,000+
Negative balance protection No Yes No Yes
Guaranteed Stop Loss No No No No
Learn More Visit Roboforex Visit IC Markets Visit eToro Visit XTB
Risk Warning Losses can exceed deposits Losses can exceed deposits 75% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Roboforex Pros and Cons

What we like about Roboforex

  • Used by over 10,000 traders
  • Established in 2009
  • Regulated by Cyprus Securities and Exchange Commission (CySEC)
  • Min. deposit from $1

What we don't like about Roboforex

Roboforex Financial Regulation and Supervision in more detail

We have checked and Roboforex is regulated and supervised by reputable organisations. You are able to check every Roboforex supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Roboforex. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Roboforex traders and provide a safe trading environment.

Roboforex is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Roboforex you should be sure they're legitimate online agent.

Roboforex Awards

Roboforex have won numerious industry awards over the 11 years they have been operating as a financial broker. We list the most notible awards and mentions for Roboforex below.

  • Best Global Forex 2019 Award winner
  • Manchester Investor Show Best Crypto Broker Winner 2018
  • London Investor Show Safest Broker 2018
  • IAFT The Best ECN Broker 2016
  • Fastest Growing Forex Brand Asia 2014
  • Best Standard Forex Broker Award in 2014
  • Best ECN Broker Award in 2013
  • Best Forex News and Analysis Provider Award in 2013
  • Best Retail Forex Brand in Russia Award in 2013
  • Best Retail Forex Broker Award in 2013
  • Best Execution Broker in Eastern Europe Award in 2013
  • Fastest Growing ECN Broker in Eastern Europe Award in 2012
  • Best Forex Broker for Automated Trading Award in 2012
  • Best Broker for Forex Robots and Advisors Award in 2012

Roboforex General Fees

  • Roboforex withdrawal fees varies on payment method
  • Roboforex doesn't charge inactivity fees
  • Roboforex doesn't charge deposit fees
Broker Roboforex IC Markets eToro XTB
Min Deposit 1 200 200 0
Withdrawal Fees Yes No Yes varies
Inactivity Fees No No Yes No
Deposit Fees No Varies No No
CFD Commission Fees No Yes No Yes

Roboforex Commissions

  • Roboforex doesn't charge commission on CFD instruments.

What can you trade with Roboforex?

Be aware that Different entities under Roboforex Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with Roboforex over 100 instruments infact.

If you are looking at trading currency pairs Roboforex offer over 35 currency pairs.

Compare Roboforex with IC Markets and eToro below.

Losses can exceed deposits

Broker Roboforex IC Markets eToro XTB
Instruments Available 100 232 100 1,500
Platforms MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies Visit Roboforex Visit IC Markets Visit eToro Visit XTB
Forex pairs offered 35 65 50 50
Major forex pairs Yes Yes Yes Yes
Minor forex pairs Yes Yes Yes Yes
Exotic forex pairs Yes Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs Visit Roboforex Visit IC Markets Visit eToro Visit XTB
Commodities Offered 0 19 0 21
Metals Yes Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs Visit Roboforex Visit IC Markets Visit eToro Visit XTB
Stocks Offered 0 100 957 1696
UK Shares No No Yes Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes

Trading on Roboforex web platforms and other applications

Roboforex is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

Roboforex is one of a handful of brokers that offer the cTrader platform developed for traders. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

An Roboforex IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Roboforex also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Roboforex's platforms

Roboforex Trading benefits :

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Roboforex Trading Accounts Offered :

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • STP account
  • Islamic account

Can I try Roboforex before I buy?

Roboforex offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Roboforex withdrawal and funding methods.

Please note that the list of payment methods below depend on the Roboforex Entity and the Clients Country of Residence.

Roboforex offer the below funding payment methods. learn more about Roboforex

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller
  • UnionPay
Broker Roboforex IC Markets eToro XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer Yes Yes Yes
Neteller Yes Yes Yes Yes

How can I start trading with Roboforex?

When opening a trading account with Roboforex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Roboforex trading platforms here.

Performing trades with Roboforex

Roboforex allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. Roboforex allow you to execute a maxium trade of 100 Lot. As Roboforex offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

Roboforex Leverage and Roboforex CFDs Explained

let's take a look at some of the basics of using Roboforex leverage.

Roboforex offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Roboforex leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Roboforex trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Roboforex leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Roboforex CFDs are typically used for short to medium term trades. For example Roboforex intraday trading.

Limit Risk When Trading with Roboforex Stop Loss, Roboforex Stop Limit Orders

A stop-loss order is an order placed with a broker like Roboforex to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at Roboforex

To trade effectively with Roboforex, it's important to get a have a good understanding of the Roboforex trading tools and the markets.

Roboforex offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Roboforex.

Take time to look around the Roboforex platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Roboforex

Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian

Roboforex have a double AA grade support rating because Roboforex offer live chat and email support in multiple languages.

Livechat Support at Roboforex

Roboforex does not offer LiveChat Support.

Email Support at Roboforex

We sent several emails to Roboforex and answer times overall were excellent. The fastest response from Roboforex was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with Roboforex, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from Roboforex.

Phone Support at Roboforex

We called Roboforex and the call was answered very quickly. The call was answered in less than 5 minutes.

The Roboforex phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Roboforex team by calling in varying languages. Roboforex made an effort to make sure our queries were answered.

Overall great phone support from Roboforex.

See how Roboforex Support Compares Against Other Brokers

Broker Roboforex IC Markets eToro XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit Roboforex Visit IC Markets Visit eToro Visit XTB
Risk Warning Losses can exceed deposits Losses can exceed deposits 75% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with Roboforex

As Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Roboforex Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Roboforex's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Roboforex you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.roboforex.com/ on 12th August 2018.

Watch this Roboforex Informational Video

Is Roboforex A Good Broker?

We spent over 3 months examining Roboforex in depth. Although Roboforex are not perfect we found many really useful aspects with the overall offering from Roboforex. Our personal experience of trading with Roboforex was very good. Weighing up many points Roboforex is a good broker.

  • Roboforex have a good track record of offering Forex, CFDs.
  • Roboforex has a history of over 11 years.
  • Roboforex has a reasonable sized customer support of at least 10.
  • Roboforex are regulated by Cyprus Securities and Exchange Commission (CySEC). This means Roboforex fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Roboforex have regulation from a Tier 1 reputable country.
  • Roboforex has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Roboforex have an international presence in multiple countries. This includes local Roboforex seminars and training.
  • Roboforex are able to hire people from various locations in the world who can better communicate in your local language.

Roboforex Risk Disclaimer

Losses can exceed deposits

Roboforex not quite right?

Check out these Roboforex Alternatives

We have spent years researching the best alternatives to Roboforex. Click the links below to learn more.

If you feel some of the above Roboforex are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Roboforex alternatives below.

Related Roboforex Comparisons

If you would like to see how Roboforex stands up against other brokers you can read some of our Roboforex comparisons below. We compare side by side some of our top rated Roboforex versus comparisons. Read some indepth Roboforex VS pages below.

ROBOFOREX Frequently Asked Questions

Can I try Roboforex before I buy?

Roboforex offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do Roboforex accept?

Please note that the list of payment methods below depend on the Roboforex Entity and the Clients Country of Residence.

Roboforex offer the following funding payment methods accept Credit cards, Bank Transfers, Payoneer, Neteller, Wire Transfer, among other payment methods.
Learn more here

Losses can exceed deposits

Is Roboforex safe?

Roboforex are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission (CySEC). Any payments funded to Roboforex accounts by traders are held in a segregated bank account. For added security Roboforex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is Roboforex trading good?

Roboforex is considered good and reputable to trade with. RoboforexRoboforex is used by over Roboforex active traders. Roboforex offers Forex trading, and CFDs trading. Minimum deposit with Roboforex is 1.

Is Roboforex trading Legit?

Roboforex was founded in Cyprus in 2009. Roboforex has been facilitating trade on the financial markets for over 11 years. Roboforex offers clients Forex trading, and CFDs trading. All funds deposited to Roboforex are held in segregated tier 1 bank accounts for security. Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC) so can be considered legit.

Is Roboforex a good broker?

Roboforex is overseen by the top tier financial regulators Cyprus Securities and Exchange Commission (CySEC) so can be considered a good broker. Roboforex allows Forex trading, and CFDs trading.

Is Roboforex trustworthy broker?

Roboforex can be considered trustworthy. All money funded to Roboforex is placed into a segregated tier 1 bank account. this means your money in not held by Roboforex directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC).

What is the minimum deposit for Roboforex?

The minimum deposit to trade with Roboforex is 1.

How long do Roboforex withdrawals take?

Withdrawing money from Roboforex processing time varies but averages 2-5 days.

Is Roboforex regulated?

Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC).

Is Roboforex a market maker?

Roboforex is a market maker. Stocks, currency and other commodities and instruments will be purchased by Roboforex even if no buyer is lined up.

How can I start trading with Roboforex?

When opening a trading account with Roboforex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Roboforex trading platforms here.

Is my money safe with Roboforex?

Roboforex is regulated by Cyprus Securities and Exchange Commission (CySEC). One of the most important criteria for traders when choosing a broker like Roboforex is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Roboforex, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Roboforex a con?

Roboforex is regulated and well established having been in business for over 11 years. Roboforex is definitely not a con.

Can you make money with Roboforex?

Although traders have had great success with Roboforex. Trading on the financial markets with Roboforex is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does Roboforex have fees?

Roboforex withdrawal fees varies on payment method. Roboforex doesn't charge inactivity fees. Roboforex doesn't charge deposit fees.

When was Roboforex founded?

Roboforex was founded in 2009.

How many people use Roboforex?

Roboforex is used by over 10000 registered traders.

What is Roboforex Headquarters country?

Roboforex has its head quarters office in Cyprus.

Does Roboforex offer negative balance protection?

Roboforex does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Roboforex offer guaranteed stop loss?

Roboforex does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Roboforex allow scalping?

Roboforex offers scalping.

Does Roboforex allow hedging?

Roboforex offers hedging.

Does Roboforex offer CFD trading?

Roboforex offers CFD trading.

Does Roboforex offer STP?

Roboforex offers STP trading.

How many people use Roboforex?

Roboforex is used by over 10000 traders.

Is Roboforex an ECN broker?

Roboforex offers ECN trading.

Does Roboforex offer a demo account?

Roboforex offers a demo account.

Does Roboforex offer an Islamic account?

Roboforex offers a Islamic accounts.

What are the funding methods for Roboforex?

Roboforex accept the following funding methods : Credit cards, Payoneer, Neteller, UnionPay, Bank Transfer.

Roboforex review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Roboforex brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Roboforex review written by Mark Hansen of Comparebrokers.co