RoboForex review

Our rating

RoboForex scores 6.6 out of 10 on our table. That figure is an average of six things we assess, and it hides the shape of the broker: its strongest area is platforms at 8.8, its weakest is education at 3.4. Whether that gap matters depends entirely on which of the six you were going to use.

Regulation and safety6.9/10

RoboForex lists its authorisations as Financial Services Commission of Belize (FSC), licence 9759600. Those are offshore authorisations. Offshore licensing is not a synonym for dishonest, but it does mean lighter reporting, higher permitted leverage and, usually, no compensation scheme - the trade is protection for flexibility.

The licence that matters to you is the one held by the entity that opens your account, and at a multi-entity broker that is decided by your country of residence. Its registration can be checked directly on the Belize FSC register, licence 9759600. It is a two-minute check and it is the only way to confirm that the firm taking your deposit is the firm named on the website.

Client money is held separately from the firm's own funds, with regulated banking institutions - so that if the business fails, client balances are not part of what its creditors can reach. Negative balance protection applies, so a gap through your stop cannot leave you owing the broker money.

On compensation: Financial Commission Compensation Fund, up to €20,000 per eligible complaint. That covers the broker failing, not your trades losing money - the two are frequently confused and only one of them is insured.

RoboForex does not accept clients from USA, Canada, Japan, Australia, Bonaire, Brazil, Curacao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, Ukraine, Belarus and other restricted jurisdictions. Restriction lists move, so confirm your own country before you spend time on an application.

What it costs to trade8.1/10

RoboForex advertises spreads from 0.0 pips. Commission is approx. $4 round turn ECN, charged on top of the spread rather than instead of it - which is the normal arrangement on a raw account and the reason its quoted spread can be so low. Put the two together and a EUR/USD round turn works out at approx. 0.6 pips, ECN, which is the figure worth comparing against other brokers.

An advertised minimum is the best price a broker has ever quoted, not the price you will get. On our record its measured average on EUR/USD is approx. 0.2 pips, ECN/Prime, and approx. 0.4 pips, ECN/Prime on GBP/USD. Spreads are variable, so they move with liquidity and widen around releases and the daily rollover.

Positions held overnight accrue a swap, and swap-free accounts are available for clients who need them. Currency conversion applies where your account and the instrument use different currencies, which is a charge worth avoiding by funding in the currency you actually trade.

Platforms and tools8.8/10

RoboForex runs MetaTrader 4, MetaTrader 5, R StocksTrader, R WebTrader, R MobileTrader. Both MetaTrader versions are available, which matters more than it sounds: an expert advisor written for MT4 will not run on MT5, so a trader arriving with existing software needs the specific version it was written for.

Automation is supported: Yes, MT4/MT5 Expert Advisors and algorithmic trading. There is API access (Yes, R StocksTrader API) for anyone connecting their own software. Copy trading is available through yes, which is the alternative to writing rules yourself.

Charting runs to 30+ MT4, 38+ MT5, proprietary R StocksTrader indicators and custom indicators. Additional tools include MetaTrader 4, MetaTrader 5, VPS. On mobile: both proprietary and third-party.

Markets, leverage and execution7.7/10

RoboForex covers Forex, Stocks, Stock CFDs, Indices, ETFs, Commodities, Energies, Metals, Cryptocurrencies, Futures CFDs. That comes to 12,000+ instruments in total. On the currency side specifically it lists 28+ pairs. Breadth is worth less than depth in the markets you actually trade - a hundred instruments priced well beats a thousand you will never open.

Leverage runs to 1:2000 on the entity that offers most. That does not improve your expected return; it lowers the deposit a given position requires, and shortens the move needed to close you out. Whatever the headline, the number that governs your position is the margin requirement on the specific instrument - it is always lower on shares and crypto than on major currency pairs.

Execution is market execution / ECN on ECN and Prime accounts, routing orders to external liquidity rather than pricing them internally. Measured speed is approx. 100ms. Its servers sit in global low-latency trading infrastructure, which is what determines latency more than any software choice.

Order types available: market, limit, stop, stop-loss, take-profit, trailing stop and MetaTrader pending orders. Stops and limits are table stakes; what separates platforms is whether the ones you rely on are there and how quickly they can be modified once a position is open.

Accounts

Account types run to Pro, ProCent, ECN, Prime, R StocksTrader, Swap-Free, Demo. The minimum deposit is $10. The smallest position it will take is 0.01 lots, which is what actually governs how precisely you can size risk on a small account.

A demo account is available, which is the cheapest way to find out whether the platform suits you. Swap-free Islamic accounts are offered. Professional classification is available for clients who qualify, which lifts leverage caps and lowers the protections that come with retail status - a trade rather than an upgrade. Opening takes typically a few minutes.

Accounts can be denominated in USD, EUR, GOLD, additional national-currency functionality available on selected MT5 accounts. Funding in the currency you trade removes a conversion charge from every position, which is a small saving repeated indefinitely.

Deposits and withdrawals

Deposits can be made by bank cards, bank transfer, electronic payment systems and regional payment methods. They clear in many electronic methods instant or near-instant.

Withdrawals go out by bank transfer, cards, electronic payment systems and supported regional methods. Expect 93.2% processed within 1 minute. The minimum withdrawal is $1 equivalent on selected methods. Check the withdrawal routes rather than the deposit ones. They are frequently not the same list, anti-money-laundering rules usually require funds to return the way they came, and the difference only becomes apparent at the point you want your money back.

Local payment methods include extensive regional and country-specific payment methods - which matters more than it looks if you are outside the broker's home market, since an international wire is slow and expensive compared with a domestic transfer.

Support and education4.7/10

Support runs 24/7. That is worth more than it sounds on a leveraged account: markets gap at inconvenient hours, and a position you cannot get help with is a position you carry until somebody answers. You can reach them by live chat, phone, ticket system, Members Area. Live chat typically answers in within minutes. Support is offered in multilingual.

Its education is substantial - educational articles, trading guides, platform tutorials, strategy content and beginner education - which is the difference between a broker that will teach you and one that will simply take the deposit. Research output covers market analysis, forecasts, technical analysis, trading calculators and market commentary.

The company behind the brand

The company behind the brand is RoboForex Ltd, registered as 000001272. It operates from Belize City, Belize. It has been trading since 2009, so there is about 17 years of record to look at.

It is independently owned rather than part of a larger group. It is privately held, so its finances are not published the way a listed group's are. Headcount is in the Approx. 200-500 range.

You may also see it under RoboForex. Brands and legal entities rarely map one to one in this industry, and the name on the website is not always the name on the client agreement.