RoboForex is one of several brands owned and maintained by the RoboForex Group. As the title suggests, the company provides investing in a variety of asset types, particularly FX. Users can also trade stocks, RTFs, indices, and commodities.
Users can select from 4 outstanding platforms and operate by a dealing desk as well as using RoboForex like a brokerage. The broker prioritizes choice and flexibility.
RoboForex appears to be perfect for users of all skill levels, from novice to professional. Users will get precisely what they really want from the different trading systems, be it clarity and convenience of use or advanced technical charting tools. Plus, with cheap minimum deposits, order sizes, and exposure to everything the marketplaces provide, it may be tough to come across a broker as appealing as RoboForex.
Regulation of RoboForex
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Traders can certainly feel safe dealing with RoboForex since they are authorized, supervised, and licensed. The IFSC in Belize has granted them a license to trade financial derivatives and assets. RoboForex also has a TFC Category A regulation. This multinational license is granted by a company with headquarters in Hong Kong as well as the United Kingdom.
Languages
A genuinely multinational broker, with customers from almost 170 countries and a webpage that is available in nearly 20 languages. Users are frequently able to receive assistance in their own languages, rendering the broker even more user-friendly.
Costs&Fees
There aren’t any upfront fees, and the RoboForex is totally open about how it collects its service charges via spreads and commissions on the over 12,000 available assets. Commissions range between 15-20 US dollars for every $1 million transacted.
Users should be aware that there are financing fees for leveraged positions as well as swap costs for overnight holdings. Furthermore, all corporate actions (such as dividends) are sent to customer accounts.
Payments
Payments are possible by more than twenty methods, and though there are zero charges for deposits, the pricing model for withdrawals differs dramatically from one method to the other. The amount of time it takes to receive withdrawals differs as well, ranging between moments to 10 working days for deposits to credit cards.
Bank transfers have a 1.6 percent charge and also can take as long as 5 working days. There is a 1 percent fee for Skrill withdrawals, and payments can take up to a day to appear in the users’ accounts. Neteller is also an option, with a 1.9 percent charge and funds arriving in a minute to a day.
In such situations, users can solely deposit and withdraw from their own accounts.
Platforms of RoboForex
- FX traders will be pleased to learn that the broker offers both MT4 and MT5 platforms. It also provides the popular cTrader platform as well as their unique customized R Trader platform. Simply put, there is a platform available for each and every style of user and approach.
Anybody with trading expertise is aware that the MT4 software is the industry norm for technical charts. It is incredibly extendable, with dozens of third-party extensions accessible in addition to the robust basic capabilities. These Expert Advisor additions are what make MetaTrader4 so well-suited to automated trading, and RoboForex gladly accommodates EAs.
- RoboForex provides their original unique R Trader platform in addition to MetaTrader4, MetaTrader 5, and cTrader. Users can view the entire spectrum of asset offers using this portal. This is particularly relevant for people wishing to trade stocks because the quantity of equities available on different platforms is restricted. Traders that don’t need the automated trading features of MT4 and cTrader must give the R Trader a chance. It provides access to over 12,000 assets and includes a robot developer allowing users to develop their personal automated tactics.
In addition to providing their clients with exceptional trading conditions via the 4 platforms available, RoboForex also provides a one-of-a-kind trading platform that focuses solely on the extremely popular style of copy trading. This is the CopyFX platform, and it enables individuals to replicate the transactions of different RoboForex users. It is a true manifestation of the incredibly popular copy trading movement, promising good trading results sans requiring substantial study effort.
Available Assets on RoboForex
The number of accessible assets will vary depending on the type of account and platform chosen. Users must be using the R Trader account and platform since it provides the most freedom as well as access to markets. It allows access to over 12,000 indices, ETFs, and indices on bonds, equities, and etc.
Almost all other services provide 36 currency pairings, commodities, CFDs on United States stocks, indices, and crude oil.
Managing the Risks
The broker provides various instruments and alternatives that may be employed as part of the strategic risk management. To manage their risk, investors can utilize stop orders. A different way to reduce risk is to use alarm systems.
Training
The broker offers MetaQuotes teaching tools to its users, which incorporates ready-made trading methods and video lectures. Users will receive completely ready techniques for trading, spanning from short to long-term, in the training area of RoboForex’s site, and a set of valuable media content by MetaQuotes providing knowledge on advisers, indicators, and hosts.
Caring of Clients
As a renowned international broker, RoboForex has great customer service in place to solve whatever difficulties or concerns their customers may have. While it is anticipated that there will never be a need for customer assistance, it is comforting to know that it is available and that they are competent and attentive.
Users can contact the customer service staff 24 hours a day, seven days a week, in multiple languages. Users can get help through web chats, emails, direct phone calls, or by requesting a callback.
Final Thoughts
This broker is by far the most famous choice in the RoboForex Group, and it’s been fast developing due to its excellent commitment to customer happiness, comprehensive platform, and product options, and integrity. RoboForex has so many different platforms that their users can choose from, and anyone using this broker will find a good trade route.
See also: Forex.com Review 2021 – Scam or not?
