Robo Forex BROKER REVIEW 2020

Are you looking to know everything about Robo Forex Broker? You’ve just landed in the right place because we have a complete guide on this topic. Read here to know more!

Robo Forex - A Platform You Can Trust

RoboForex is now offering its services in more than 169 countries with over 1 Million active users. Additionally, they have a lot of account types to offer to fulfill the needs and wants of “Every Single Individual.”

Service information

Demo Account Yes
Minimum Deposit $10
Max Leverage 1:2000
Spreads from 0.01
Type of Broker ECN
Tradable Assets Currencies, Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities, Bitcoin, Litecoin and Ethereum
Deposit Options Bank Wire, VISA, MasterCard, ePayments, FasaPay, Neteller, PaySec, Poli, Qiwi, Skrill, UnionPay, WebMoney

Company information

Established 2009
Regulated by IFSC
Telephone +65 3158 8389
Customer Support 24/7 in 19 languages

RoboForex-Featured-DailyForexTrading.Net


One of the best Forex Brokers that is known as “RoboForex Broker” is getting the eye of a lot of investors because of all good reasons. This Forex marketplace is operated by the “RoboForex Groups”, and it came into existence and started serving the “Forex Market” in 2009.

RoboForex Review - Know The Basics

RoboForex Broker is the name of quality and a considerable place for the “Forex Broker,” and that’s the reason why “They are gaining size and capacity” with every coming day.

But, there are still hundreds of things to consider before you actually start investing in RoboForex and we will notify you about everything in a while.

RoboForex Broker brand isn’t only limited to “Forex Trading” but they offer you tons of other things as well, such as “Stock Exchange, Indices, ETFs, Cryptocurrencies, Metals, Commodities, and Energies.”


"They are offering their services in more than 169 countries with over 1 Million active users"


Additionally, they have a lot of account types to offer to fulfil the needs and wants of “Every Single Individual.” 
To know about “Which account suits you the best,” scroll down and check the brief detail:

But wait, before you know about the account types of “RoboForex Broker,” it is mandatory to know about the regulations of RoboForex.

Let’s break them down before we head towards the “Regulation” section:

RoboForex Broker Regulation

RoboForex Broker is a prestigious platform for the “Forex Investors”, and they are regulated by IFSC Belize and The Financial Commission. That means, there’s no risk involved when going for the “Huge Investment” as they are monitored by the Top-Notch securities around the globe.

Also, if you want to check the “License Number” of RoboForex, you can check it on the IFSC and The Financial Commission website by typing “license NO.IFSC/60/271/TS” in the requirement box.

 Let’s now talk about the account types!

RoboForex Account Types

Before you access the marketplace, it’s important that you choose the perfect-fit account for your needs and wants.

To help you in this cause, we have listed down all the account types along with the brief detail that you might find “Useful and Beneficial.”

Let’s rock and roll!

There are five types of accounts that the RoboForex Broker is dealing with:

  • Prime
  • ECN
  • Pro-Standard
  • Pro Cent
  • R Trader

Prime Account

This account is for beginners, and if you’re planning to get started with the best Forex Brokers, then RoboForex Prime account is for you. Let’s break down the details of the account in a table:

Trading Platforms

MT4, Web Trading, IOS and Android

Minimum Deposit

10 Dollars

Spread

0 Pips

Maximum Leverage

1:300

Deposit Bonuses

Not Available

Loyalty Offers

Check the daily, weekly and monthly offers

Trading Instruments

28 Currency Pairs, Metals, Cryptocurrencies, Oil, Stock Exchange, Energies, and CFDs

 ECN Account

It’s time to step up the game and move towards the professional account with the best trading conditions available in the market. Let’s talk about the ECN Account in a table:

Trading Platforms

MT4, MT5, Web Trading, cTrading, IOS and Android

Minimum Deposit

10 Dollars and 10 Euros

Spread

0 Pips

Maximum Leverage

1:500

Deposit Bonuses

Not Available

Loyalty Offers

Check the daily, weekly and monthly offers

Trading Instruments

36 Currency Pairs, Metals, Cryptocurrencies, Oil, Stock Exchange, Energies, and CFDs

Pro-Standard Account

If you want to head towards the “Popularity”, then the Pro-Standard account is the most popular account that a lot of investors are using for Forex Trading Purposes. Let’s figure it out why:

Trading Platforms

MT4, MT5, cTrading, Web Trading, IOS and Android

Minimum Deposit

10 Dollars

Spread

1.3 Pips

Maximum Leverage

1:2000

Deposit Bonuses

All Bonuses

Loyalty Offers

Check the daily, weekly and monthly offers

Trading Instruments

36 Currency Pairs, Metals, Cryptocurrencies, Oil, Stock Exchange, Energies, and CFDs

 Pro Cent Account

With the help of Pro Cent Account, you can set the base currency to “Cent” and get the access of (USD Cent and EU Cent) without any obstacle coming your way.

Trading Platforms

MT4, MT5, cTrading, Web Trading, IOS and Android

Minimum Deposit

10 Dollars and 10 Euros

Spread

1.3 Pips

Maximum Leverage

1:2000

Deposit Bonuses

All Bonuses

Loyalty Offers

Check the daily, weekly and monthly offers

Trading Instruments

36 Currency Pairs, Metals, Cryptocurrencies, Oil, Stock Exchange, Energies, and CFDs

R-Trader Account

Now, this account is for the unique investors that are eyeing only on “Web Trading” and experienced as well. You’ll get all the access to the major financial market from a single account type, and you don’t have to open a lot of accounts to get access.

Now, which account are you guys going for? Do let us know in the comment section.


Pros


Cons

They are providing you with the latest trading tools and platforms to trade on

None

Customization can be done with the tools and account without any problem

 

You get the notifications of your every single move

 

It’s time to move towards the trading platforms that “RoboForex Broker” is offering to you:

Trading Platform of RoboForex Broker

Just like other Forex Brokers, they do offer different trading platforms to make trading easy for the investors.

Let’s give a quick look to different trading platforms that “RoboForex Broker” is offering:

  • MetaTrader 5
  • MetaTrader 4
  • IOS Trading
  • Android Trading
  • cTrader
  • Web Trading

As we are done discussing the basic information regarding the “RoboForex Broker,” it’s time to converse about the “In-Depth” details of the best broker in the business.

The spread of RoboForex Broker

We have discussed the spread of the RoboForex Broker accounts already in the accounts section, but let’s break down one more time so that you get the clear direction of the “Spread” they are offering:

  • Prime: 0 Pips
  • ECN: 0 Pips
  • Pro-Standard: 1.3 Pips
  • Pro Cent: 1.3 Pips
  • R Trader: 0.01 Pips

So, these are the spreads that all the account types of “RoboForex Broker” are offering, and let’s now move towards the Execution of the RoboForex.

Let’s head towards the Execution:

Execution of RoboForex Broker

There are two types of executions that RoboForex Broker deals with:

  • Instant Execution
  • Market Execution

Instant Execution is all about executing your order when the prices meet your “Expectations”, and you sell your assets straightaway. But, Market Execution is different, and you only have the authority of defining the volume of the assets.

But, there are certain rules that “RoboForex Broker” is following from the decade or so. If you want to read all the detailed rules, you can simply Click Here to read more!

Commission and Fees of RoboForex Traders

The withdrawal of the funds is completely free under $1000, but they collect their commission and fees through “Spreads” and charge you accordingly when you reach the assets limit of 9,400.

Additionally, they are offering affiliate accounts to increase your payouts, and you can earn a great commission by referring the marketplace to the new investors.

Have a look at the screenshot below:

RoboForex-Comissions&Fees-DailyForexTrading.Net

That’s all from the Commission and Fee section; you’ll get to know more about this section when you get yourself registered with “RoboForex Broker.”


Pros


Cons

They don’t charge anything from the beginners

They have high commission fees and spread

 

A lot of people complain about their Commission and Fee services

Note* They didn’t mention a lot about Commission and Fees on their official website.

Leverage of RoboForex Broker

There are five types of accounts that “RoboForex” is dealing with, and each account has its own Leverage. To help you understand more about it, let’s break the leverages of all the accounts down below.

  • Prime: 1:300 Leverage
  • ECN: 1:500 Leverage
  • Pro-Standard: 1:2000 Leverage
  • Pro Cent: 1:2000 Leverage
  • R Trader: 1:200 Leverage

Customer Service of RoboForex Broker

RoboForex-CustomerSupport-DailyForexTrading.Net
The customer service of RoboForex Broker is providing you with 24/7 help and support services to fix all your problems related to Forex. Additionally, they have provided you with a landline number “+65 3158 8389”, and you can call them without any fear of “Call Charges” because the service is absolutely free.

You also have the facility of “Live Chat” and sending your messages on their “Email” addresses to get instant replies. Here’s the email info@roboforex.com

How to open an account on RoboForex Broker

To open the account on the RoboForex Broker, you need to follow the instructions and steps given below:

Note* Before you open up the account, it’s better to give all the accounts a brief look because you should know what you’re going for.

  1. The first step is to head towards the official website of the RoboForex Broker by Clicking Here, and you’ll end up finding yourself at the registration page:

    RoboForex-OpeningAccount1-DailyForexTrading.Net
  2. Now, enter the Email Address, First Name, Last Name, and Your Mobile Number to get started with your account. Once you enter all the information, you’ll have to click on the “Next Step”, and you’ll be promoted to the next step, which is “Verification.

    RoboForex-OpeningAccount2-DailyForexTrading.Net
  3. Now, head towards your email and click on the verification link to get started with your “account.” But, things aren’t done here as you’ve to enter more details such as Bank Details, Credit Card Details, Home Address, CNIC, and possibly a Selfie.

You’re done!


Pros


Cons

The account opening is easy

None

The deposit fee is $100, and you can enjoy a welcome bonus too

 

The system is fully digital

 

How to withdraw funds from RoboForex Broker

Withdrawing the funds from the RoboForex Broker account is easy, and you won’t be facing any problems when doing so.

  1. Login to your account and then head towards “Withdraw Funds.”
  2. You’ve to make sure that you enter all the details that you used at the time of registration
  3. Now, choose the payment method and confirm all the details twice
  4. Click on the “Go” button, and you’re done

Note* you’ll have to add more information depending upon which payment gateway you use. They have more than 50+ payment gateways to choose, in short,* you name it, and you have it.



Pros


Cons

They don’t charge you anything for depositing/withdrawing the money.

None

You get your money in your account within no time, and Deposit can be made immediately within the business days.

 

There are a lot of payment gateways available, and you can simply use them to get your profited money in your accounts

 

To know more about the payment gateways, Click Here

Comparison of RoboForex vs. Exness.com


RoboForex


Exness

Broker Country: New Zealand

Broker Country: Cyprus

Regulation: CySEC, IFSC Belize

Regulation: CySEC, IFSC Belize

Accept US Clients: Yes

Accept US Clients: Yes

Minimum Deposit: $10

Minimum Deposit: $1

Scalping: Yes

Scalping: Yes

Currency Pairs: 48

Currency Pairs: 114

CFD Training: Yes

CFD Training: Yes

 

As we are done with the RoboForex Broker vs. Exness.com comparison, let’s now talk about the advantages and disadvantages of RoboForex Broker.

Advantages and Disadvantages of RoboForex Broker

You must want to hear the advantages and disadvantages of RoboForex Broker before you head towards investing in this marketplace.

Advantages of RoboForex Broker

  • It is used by more than 10k traders around the globe
  • It was established in 2009 and getting all the fame and respect it deserve
  • It is regulated by the Cyprus Securities and Exchange Commission
  • Minimum Deposit is $10, and you can use the R-Trader account with a minimum of $100 deposit
  • The RoboForex Broker won the Best Global Award in 2019 for providing user satisfaction
  • It is providing you with a lot of trading platforms to trade such as; MT5, MT4, cTrader, Web Trading and a lot more

Disadvantages of RoboForex Broker

  • It isn’t regulated by the FCA

 It’s time to discuss the bonuses, contests, and promotions of the RoboForex Broker and finish up the things with the pros and cons of each service.

Bonuses, Contests, and Promotions of RoboForex Broker

Just like the other brokers in the business, this market place does offer you a 30 dollars welcome bonus to get started with the “Forex World.”

But, if you’re getting started with the “Professional” account, you’ll be awarded a 50% deposit bonus. Every single account type has different bonuses, and you can check it by going to their official website.

We aren’t mentioning the bonuses and promotions here because “they change it every month,” so we would recommend you to “Subscribe” to their daily newsletter and enjoy what they offer to you.

Currently, there’s a contest going on, and you can participate in it. You’ve to open a demo account on the website and participate in the contest by Clicking Here because you’ve to read all the instructions of “Terms of Participation” before you actually start outsmarting the participants.

Note* They come up with different contests and promotions every single month and if you want to keep yourself up-to-date, then visiting their website every time you open up your laptop is what we recommend.

This marketplace is gaining all sorts of popularity and respect that it deserves and that’s why people are relying on this platform. Have any questions in mind regarding the topic? Feel free to comment down below.

frequently ask questions

By default, the charts of trading instruments in the trading terminal show the Bid price, but not all positions are closed at this price.

Long positions (Buy) are opened at the Ask price and closed at the Bid price. Short positions (Sell), in their turn, are opened at the Bid price and closed at the Ask price.

As a result, on the chart you can see only the Bid price, at which your long (Buy) positions are closed.

It can be easily changed by enabling the Ask line in chart settings.

Depending on the chosen payment system, you may be asked to specify some additional information on the next page to create a withdrawal application. Please note that withdrawal applications are processed by the Company within two business days from 9:00 AM to 6:00 PM (EET).

  1. Open an account. Bonus funds are available for cent and standard MT4/MT5-based accounts with USD or EUR as a base currency.
  2. Verify your account. Pass the simple verification procedure of your identity, address, and phone number in your Members Area.
  3. Deposit funds to your account.

Online course on trading NASDAQ and NYSE stocks. RoboForex team has designed a free video course on trading on NASDAQ and NYSE stock exchanges.

For all cent accounts, RoboForex Ltd serves as a market maker, i.e. the other party of the transaction. This is due to the terms of the liquidity provider, which do not allow transactions fewer than some specific volume.

For all standard and ECN accounts, RoboForex applies the STP technology through a bridge connected to a liquidity provider. All transactions that exceed 0.01 lot (1,000 units) are sent to the bridge and then to the liquidity provider. RoboForex receives a part of the spread from each transaction.

1. Using Trading Calculator.

2. According to the formula.

The margin is calculated according to the following formula:

<Margin> = <Contract size> / <Leverage>

where:
Contract size - the order volume in the base currency of the trading instrument (the first currency in the ticker). The order volume of 1 lot for all currency pairs is always equal to 100,000 units of the instrument base currency.
Leverage - the leverage value.

Example:

You buy 1 lot of EURUSD.
Account currency: EUR.
Leverage: 1:100.

<Margin> = 100,000 / 100 = 1,000 EUR

If your account currency differs from the base currency of the instrument, you have to convert the margin amount into the account currency at the rate when your position is opened.

Example:

You buy 1 lot of EURUSD.
Account currency: USD.
Margin in the base currency of the asset: 1,000 EUR.
Current EURUSD rate: 1.2345.

<Margin> = 1,000 * 1.2345 = 1,234.50 USD

RoboForex is an STP/ECN broker, meaning they offer both types of accounts. The accounts are designed for different trading styles and levels of experience and expertise.

Use credit cards, bank transfer, online transfer, cryptocurrencies and e-wallets (Neteller, Skrill, etc.) to capitalize the trading account. In addition, RoboForex has a wallet with which you can save money or carry out transactions. The transactions are very safe and pleasant.

HOW CAN WE HELP YOU?

contact@dailyforextrading.net