RoboForex is one of the reliable and trusted brokers when it comes to trading.
They have 11 years of experience and this review will highlight all the good and bad of RoboForex. RoboForex deposit, withdrawals, leverage, and account types will also be covered in this review.
RoboForex Review
- Founded : 2009
- Leverage : 1:2000
- Broker Type: STP & ECN
- Regulations: IFSC
- Spread: From 1.3
- ECN Spread:From 0.0
Good or Scam
Roboforex can be considered as a trusted and legit trading broker as they are regulated by IFSC.
It is always best to trade using regulated brokers to avoid being scammed or experiencing mistreatment.
Pros
- Regulated
- +12 Years Experience
- No Strategy restriction
- Fast Execution
Leverage
The maximum leverage you can get on Roboforex is 1:2000, however, not all types of accounts have this high leverage.
There are 5 types of accounts on Roboforex and they all have different maximum leverage.
Roboforex Account Type | Leverage (Max) |
Prime Account | 1:300 |
ECN | 1:500 |
R StocksTrader Account | 1:300 |
ProCent | 1:2000 |
Pro | 1:2000 |
The type of account you choose will determine the maximum leverage you can get RoboForex and I will review these trading accounts so you can choose the one that suits you better.
Account Types
1.1 Prime
Minimum deposit of $10
The Prime account has premium conditions just like the spreads, they are floating from 0 pips.
The account has 28 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil
The commission for this type of account is $1/lot on each side
It is suitable for both currency and other types of markets.
1.2 ECN
Minimum deposit of $10
The ECN account has ultra-low spreads close to 0.0 pips all the time just like the Prime account, with a fast execution speed.
The benefit of trading with the RoboForex ECN account is that as a trader you get rebates or cashback of up to 15% of the company’s revenue.
The commission charged is $2/lot on each side
There are 36 different currency pairs. Metals, US stock CFDs, Indices CFDs, Oil CFDs, and
1.3 R Stock Trader
You need a minimum of $100 to use this account.
The R Stock account is specially made for stock traders.
This account has more than 12,000: Indices, Real stocks, CFD on stocks, Forex and ETF, CFDs on Oil, CFDs on Metals, CFDs on Brazil Stocks.
If you trade stocks and Indices most of the time.
Also, swap-free accounts are available.
1.4 Pro Cent
This is a type of account used to test strategies and EAs, as well as to make the transition from a demo account to real trading as easy as possible.
ReboForex requires a minimum deposit of $10 to open the Pro Cent account.
Spreads are floating from 1.3 pips
Using the Pro Cent account you get access to 36 currency pairs, Metals.
1.5 Pro
Best account suitable for Beginners
The minimum deposit is $10 to use the Pro account.The spreads are floating from 1.3 pips
This type of account has 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil.
Swap-Free accounts and 1-click trading are available
If you’re not sure about which account you should choose, just register for RoboForex and you will be able to create any type of account available.
Trading Instruments
Here are the 8 assets you can trade on RoboForex:
- Forex
- Stocks
- Indices
- ETF
- Commodities
- Metals
- Energy Commodities
Deposit & Withdrawals
The minimum deposit required to open an account on RoboForex is $10 however it’s $100 for the R Stock Trader account.
By the way, Roboforex charges 0% fees on deposits and withdrawals
Here are all the deposit methods on RoboForex :
- Bank Payments
- Electronic Payments
- Bank Cards
Bank Payments
Deposits and Withdrawals can be made using Bank Payments at no fee charged and processing time for deposits can take up to 1 day and withdrawals can take up to 2 days depending on the Payment System used.
Here are a few popular accepted payments systems for deposits and withdrawals :
- Santander
- Local Bank Transfers
- Boleto
- PSE
- China UnionPay
Elecronic Payments
Electronic payments can be made using the following systems
- AstroPay
- Skrill
- Neteller
- Perfect Money
- Adv Cash
- NganLuong Wallet
Deposits are instant, however, there are withdrawal fees depending on the system used.
Bank Cards
Deposits can also be made via bank cards (Visa/MasterCard/JCB) , China UnionPay
RoboForex also allows users to deposit funds using vouchers.
Withdrawal
Withdrawals on RoboForex can take anywhere from 1 day to 10 days depending on your withdrawal method.
Withdrawals are instant when e-payments such as Neteller are used. You are not charged any withdrawal fee.
The maximum you can withdraw using your MasterCard/visa credit card or debit card is $10 000.
- Founded : 2009
- Leverage : 1:2000
- Broker Type: STP & ECN
- Regulations: IFSC
- Spread: From 1.3
- ECN Spread:From 0.0
Trading & Platforms
After creating your RoboForex trading account you can trade using any of the following platforms
Available For:
- Prime
- ECN
- ProCent
- Pro
Available For:
- Prime
- ECN
- ProCent
- Pro
Available For:
- Prime
- ECN
- ProCent
- Pro
R Stock Trader
Education
If you are a beginner and you don’t know much about forex trading , after creating your RoboForex account you will get access to educational videos.
The videos are free to watch and sometimes RoboForex host live webinars where you can register for free and learn watch pro traders sharing their knowledge.
Conclusion
RoboForex is a well-regulated broker that is beginner-friendly.
At In-Depth Trading, we view this broker as the best for stock traders and other assets traders but mostly stock traders because of the trading conditions mentioned in this review.
RoboForex FAQ
In our opinion, RoboForex has been a broker for over 11 years so it’s a reliable broker.
Yes , RoboForex is regulated with IFSC
To open an account on RoboForex you will need a minimum of $10/10 euros