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RoboForex Review

RoboForex Review

RoboForex, built up in 2009, is the brand name of an online forex trading platform that is claimed and overseen by the RoboForex Group. They are situated in Cyprus and their head office is situated at Soboh House 377, 28th October Street, office #1, Limassol. The RoboForex trading platform is made available through two auxiliary organizations, RoboForex (CY) Ltd and RoboForex Ltd. Customers in the Eurozone are mainly serviced by RoboForex (CY) Ltd while non-European customers are serviced by RoboForex Ltd which is situated in Belize. Together, these two organizations operating under the RoboForex mark offer their customers online trading services for monetary standards matches and stocks. The broker likewise offers investment administration services to investors who need to incorporate long term an incentive with their portfolio.

roboforex homepage

RoboForex Regulations

In terms of administrative oversight, RoboForex’s activity goes under the locale of 2 separate administrative offices, the Cyprus Securities Exchange Commission (CySEC) and the Belize International Financial Services Commission (IFSC). Operating under the Cyprus Investment Firm (CIF) permit number 191/13, RoboForex is MiFID agreeable and is approved to offer its items and services to all the part states within the European Economic Area (EEA). Notwithstanding the oversight given by CySEC, RoboForex under the RoboForex Ltd is controlled by the Belize IFSC through the permit number IFSC/60/271/TS/17.

While the IFSC isn’t also known as CySEC, its main obligations are like those completed by CySEC. As the controller of the financial industry in Belize, IFSC needs to guarantee that the organizations under its locale work in a reasonable and straightforward way. Just qualified financial services suppliers which have met all the stringent necessities forced by the IFSC will be conceded the permit to work in Belize and past its national fringes.

RoboForex Reliability

For a forex broker operating in an unregulated market, administrative oversight is critical is helping support the trust of investors. It likewise gives merchants the genuine feelings of serenity that the broker they are dealing with is a dependable one. This is because of the way that every administrative office require organizations under their purviews to meet certain strict prerequisites previously they are issued a permit to work. For instance, CySEC managed forex brokers are required to have a minimum of 750,000 euros in operating capital before they can be issued a permit. Moreover, the brokers are required to maintain isolated accounts to stay with the’s operational funds separate from the merchants’ funds.

Separated for being directed, RoboForex is additionally an individual from the Cyprus’ Investors Compensation Fund Scheme and the Financial Commission. With the Investors Compensation Fund plot, RoboForex’s customers can petition for pay ought to ever RobeForex turned out to be insolvent. Every broker can guarantee a greatest of 20,000 euros under this plan. Note that this assurance is just available to merchants who are serviced by RoboForex (CY) Ltd.

For brokers who are serviced by RoboForex Ltd, they are ensured under the question goals mechanism offered by the Financial Commission. The Financial Commission is an international independent body that assistance to settle question between dealers and brokers who are individuals from this association. As RoboForex Ltd is a category “A” part, its dealers are qualified up for $20,000 in insurance payments under the remuneration conspire given by the Financial Commission.

As further tribute to RoboForex’s unwavering quality, the broker is a beneficiary of various honors in the course of recent years. The honors which they have won include:

Best ECN broker (2016)

Quickest developing Forex Brand Asia (2014)

Best Standard Forex Broker (2014)

Best ECN broker (2013)

Best Forex News and Analysis Provider (2013)

Best Retail Forex Brand Russia and CIS (2013)

Best Retail Forex Broker (2013)

Best Execution Broker, Eastern Europe (2013)

Silver Sponsor of Automated Trading Championship (2013)

Quickest developing ECN Broker Eastern Europe (2012)

Best forex broker for mechanized trading (2012)

Best broker for working with forex robots and counselors (2012)

RoboForex Trading Platforms

In terms of the trading platforms that are given by RoboForex, there are 3 main types of platforms in particular the MetaTrader 4 platform, the MetaTrader 5 platform and the cTrader platform

MetaTrader 4 Platform

Viewed as the forex industry standard trading platform, the MT4 is well known among brokers for its user amicable interface and wide exhibit of trading instruments. Its main features include the following

50 types of specialized indicators

Worked in MQL4 dialect

Extensive Charting Package

News streaming

Real time cites

Supports 3 types of request execution

Supports robotized trading using master guides

MetaTrader 5 Platform

A refreshed and all the more powerful form of the MetaTrader 4, the MetaTrader 5 platform accompanies included features integrated into the trading platform. These include the following:

6 types of request types

Worked in MQL5 dialect

Market Depth

Multi money analyzer

Supports 4 types of request execution

Virtual Hosting

cTrader Platform

Aside from the MetaTrader based trading platform, RoboForex has additionally given their merchants the cTRader trading platform for direct access to interbank cites.

A Straight-Through-Processing (STP) platform, the cTrader accompanies features, for example,

54 types of Technical Indicators

A single tick Trading

Support 14 time allotments

Supports uncommon market arrange types

Supports trading straight from the graphs

roboforex platform

Ultra Fast Execution

For RoboForex’s merchants who wish to exchange stocks, Roboforex has given the Umstel trading platform that is structured specifically for stocks trading.

Electronic, the Umstel platform is adaptable and user well disposed. It likewise supports a single tick trading in a quick and proficient way.

Robot Builder

For experienced merchants who need to assemble their own trading systems, RoboForex has likewise made the StrategyQuant robot manufacturer device available to its customers.

Mobile Trading

Mobile merchants at RoboForex are not forgotten as the broker has likewise made arrangements to support their trading platforms on Android and iOS powered smartphones and other mobile gadgets. Mobile well disposed forms of the previously mentioned platforms can without much of a stretch be downloaded from Apple’s App Store and Goggle Play Store.

Investment Platforms

While most brokers in the industry have furnished their customers with trading platforms that are outfitted towards independent trading, RoboForex has gone further by providing 2 extra platforms equipped to investing, to be specific the CopyFx and RoboForex RAMM platforms

CopyFx Platform

The CopyFx platform allows beginner brokers at RoboForex to imitate the exchanges made by their more experienced companions. By letting brokers duplicate the exchanges made by their accomplished fellow tradees, RoboForex gives dealers the opportunity to learn from the more experienced merchants.

RoboForex RAMM platform

Another interesting platform given by RoboForex to investment is the RAMM platform. With the RAMM platform, merchants at RoboForex can deal with their dangers with more control.

RoboForex Trade Types/Instruments

Aside from offering their customers cash sets, Roboforex likewise offer trading for stocks and Contract for Difference (CFDs).

RoboForex Account Types

Trading accounts at RoboForex are catergorized into 4 main types in particular standard accounts, pennies account, ECN accounts and Stocks account.

Standard Accounts

Standard accounts comes in 2 positions, Fix-Standard and Pro Standard

Fix Standard

33 Currency Pairs, Metals

4 Digits Quotes

Settled Spreads

Instant Execution

No Minimum Deposit

Minimum Margin Requirement: 1

Ace Standard

36 Currency Pairs, Metals, CFD

5 Digits Quotes

Floating Spreads

Market Execution

No Minimum Deposit

Minimum Margin Requirement: 1

Cents Accounts

Cents accounts are likewise sub categorized into two types, Fix-Cent and Pro-Cent. They have basically indistinguishable advantages from the Standard account variations with the exception of the lower minimum margin necessity of simply 0.01.

ECN Accounts

ECN accounts are likewise categorized into 2 types, ECN-PRO NDD and ECN-FIXSPREAD NDD.

ECN PRO NDD

36 Currency Pairs, Metals, CFDs

5 Digits Quotes

Floating Spreads

Market Execution

No Minimum Deposit

Minimum Margin Requirement: 3.33

Commission: $20 per 1 Million trading volume

ECN FIXSPREAD NDD

13 Currency Pairs, Metals

5 Digits Quotes

Settled Spreads

Market Execution

No Minimum Deposit

Minimum Margin Requirement: 3.33

Commission: None

Stocks Account

For dealers who need to exchange stocks on the Umstel trading platform, they will be required to open a stock trading account. Features of the stocks trading account include the following:

Available instruments: More than 8400 stocks

Commissions: 2 pennies for each stock

Most extreme Leverage: 1:20

Minimum Deposit of $100

Spreads: from 1 penny

For potential customers who need to try out RoboForex’s services and trading platforms, the broker has additionally given demo account offices to the following types of accounts:

Demo Fix

Demo Pro

Demo Ecn-Pro Ndd

Demo Ecn-Fixspread Ndd

roboforex accounts

RoboForex Commissions and Spreads

Depending on the type of trading account one is trading from, the applicable commission rates shift from 2 pennies for each stock to $20 per $1 million exchanged. With respect to the applicable spreads, this additionally relies upon the type of trading account and can be in the type of settled or floating spreads. To give you a thought of the intensity of RoboForex’s spreads, below is a table listing a portion of the more oftentimes exchanged instruments and the minimum spread which ECN-Pro NDD account holders will get the chance to appreciate.

RoboForex Deposits and Withdrawals Options

In terms of payment strategies, RoboForex supports a wide assortment of payment techniques, for example,

Bank wire Transfer

Bank Cards

Electronic Payments

Bank wire Transfer

Wire exchange for any nearby and international banks

Bank Cards

VISA, MasterCard, China UnionPay, Firstchoice Pay MasterCard

Electronic Payments

Fasapay, Skrill, Neteller, WebMoney, QIWI, ePayments, bitcoins, webpay.cl

Under the programmed withdrawal conspire, the processing time for a withdrawal ask for is not exactly a minute. What’s more, RoboForex has an exceptional program where dealers can make 2 withdrawals for every month without incurring any commission charges.

RoboForex Bonus and Promotions

To welcome and reward merchants who join with RoboForex, the broker has given a few incentives in the type of bonuses and advancements. They include the following:

2017 coupons for MQL5 signals

Exemplary deposit bonus of up to 115%

Forex Rebates (Cashback) Service

For nothing out of pocket VPS-server

Tradable Protection up to half

Welcome 30 USD

roboforex benefits

RoboForex Customer Support

RoboForex’s customer support is available 24 hours per day 7 days seven days. Brokers can achieve the support team through different strategies, for example, email, Skype, live talk of the phone. They can likewise ask for a get back to by filling out the web contact frame found on the “Get in touch with Us” page of RoboForex’s site. Aside from English, RoboForex site is converted into 8 noteworthy dialects to serve non English speaking brokers.

RoboForex Q&A

Is RoboForex controlled?

Truly, RoboForex is a managed broker under the Cyprus Securities Exchange Commission and the Belize International Financial Services Commission.

Where is RoboForex based?

RoboForex is situated in Cyrpus. Their office is situated at Soboh House 377, 28th October Street, office #1, Limassol.

How does RoboForex profit?

RoboForex makes its income by charging its customers a little commission and broaden spreads on the exchanges that its customers executed on its trading platforms.

How to deposit in RoboForex account?

Funds can be deposited into a RoboForex account through bank wire exchange, bank cards and electronic wallets.

How to withdraw cash from RoboForex?

To withdraw funds from RoboForex, you can do as such through your credit cards or bank wire exchange.

How to open an account with RoboForex?

To open an account with RoboForex, just top off the enrollment and submit it with all the fundamental verification reports. When your account has been verified, you will be granted a $30 welcome bonus.

Is RoboForex dependable?

Truly, RoboForex is a solid broker. The broker has won various honors in acknowledgment of the nature of its services.

Does RoboForex use MetaTrader?

Truly. Notwithstanding the cTrader, RoboForex has additionally furnished its customers with the MetaTrader 4 and MetaTrader 5 trading platform.

What is RoboForex’s leverage?

The greatest leverage offered by RoboForex is 1:1000

Is RoboForex a scam? How sheltered is broker name?

No, RoboForex isn’t a scam. It is an authentic broker that is directed by 2 administrative organizations.

Conclusion

After an exhaustive review of RoboForex’s services and item offerings, we find ourselves awed with the nature of their services and also the scope of item offerings. Other than from various trading platforms and trading accounts, RoboForex has likewise gone to considerable lengths to welcome new customers and also to reward steadfast customers with their various bonuses and limited time offers.

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2 User Reviews

  1. If you do an internet search on forex broker scams, the number of results is staggering. While the forex market is slowly becoming more regulated, there are many unscrupulous brokers who should not be in business.

  2. If you do an internet search on forex broker scams, the number of results is staggering. While the forex market is slowly becoming more regulated, there are many unscrupulous brokers who should not be in business.

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