When we talk about brokerage services, the first name that comes to mind is RoboForex. RoboForex is considered one of the best companies as a trading broker. Usually, It presents multiple trading instruments or tools and low spreads, low commissions as well as a number of various trading platforms.
RoboForex is an online broker that offers live trading accounts for Pro-Cent, Pro-Standard, and RAMM. The broker offers different types of platforms like MT4 and MT5. In this review, all the details related to this broker as well as regulations, bonuses, prices, deposits, and customer support.
RoboForex came into existence in 2009. RoboForex has a solid reputation, having opened over 3 million real accounts since its beginning. It is the most trusted high-end broker company.
Top features of RoboForex
RoboForex offers a selection of trading accounts for both beginners and experienced traders. Plus, as an STP/ECN trader, you have a lot of options. Let’s jump into few examples:
Accounts with Straight Through Processing (STP)
The Pro-Cent and ProStandard accounts are two separate STP accounts available. For starters, the Pro-Cent account is an excellent location for newcomers to get their feet wet. You can trade 36 different currency pairs, cryptocurrencies, and commodities using it. This type of account can also be used by veterans to test trading methods.
Accounts on the ECN
RoboForex offers two types of ECN accounts: ECN-Pro and ECN-Prime. Commissions for trading volumes up to $1 million and floating spreads starting at 0 pips are available with the ECN-Pro account. Furthermore, the account requires only a $10 minimum deposit. The maximum leverage available is 1:300.
You can also create an Amazon Prime account. The minimum deposit for this sort of account, however, is $5000, making it best suited for experienced traders, with trading conditions similar to liquidity providers. With floating spreads starting at 0 pips, the maximum leverage is 1:100.
Extra features of RoboForex
RoboForex also has a number of features for traders with varying degrees of experience. If you’re a seasoned trader, the R account, with a $100 minimum deposit and spreads starting at $0.01, might be a good fit.
CopyFX is another functionality you can configure. It’s a social trading platform that allows you to select other traders, preferably those who are performing well and have your account automatically copy their moves. To put it another way, you can utilize CopyFX to follow other traders and learn from them.
The CopyFX function is unique in that it works in tandem with the RAMM investment system, which allows traders to design and publish investment ideas in order to encourage others to imitate them. When they do, you will profit even more.
RoboForex also has an app for iOS and Android that makes trading simple. It also has an economic calendar, as well as different analytical tools like one-click trading, a free automatic strategy builder, and custom watchlists to help you manage your assets better.
Of course, if you’re just getting started, one of RoboForex’s biggest advantages is its free demo account. This account allows you to trade in real-time market circumstances.
Reliability and Regulation
Tier 1 banks, which are a measure of financial health and strength, are used only by Roboforex. This indicates that the funds are processed safely.
Roboforex is regulated by the CySEC. This is a well-known norm of supervision. However, some people are still wary about off-shore control. It’s up to you to decide, however, keep in mind that CySEC is an internationally recognized authority.
It is important to realize, however, that trading in financial assets might result in losses. Make sure you’ve done your homework on tactics and this activity in general.
Bonuses and Promotions
The platform provides a 30 USD welcome bonus that is simple to obtain. Open a cent and standard account, verify it and make a deposit of at least 10 USD. This aids you in getting started and provides some support. You can learn more about the Welcome Bonus and perhaps even claim yours if you go to the Welcome Bonus page.
There are a variety of extra incentives available as well:
A classic bonus of up to 120 percent on first and subsequent deposits;
Up to a 60% profit share bonus for drawdown protection; up to a 10% profit share bonus on account balance;
On the first and third Tuesdays, you can withdraw your money for free;
Prices at RoboForex
RoboForex’s commissions and fees are, for the most part, in line with the Admiral markets average for reliable brokers. Nonetheless, certain accounts have spreads that are competitive. It is entirely dependent on the underlying asset that you are trading.
The commission on US stock CFDs, for example, is $0.02 per share. Cryptocurrencies, on the other hand, account for 0.30 percent of the Admiral market. However, with a high deposit, the commission rate can be improved, for example, to $0.0045 per share of US stock CFDs with a deposit of $10,000 or more.
Customer Service
RoboForex is an enticing option with reasonable rates and a plethora of bonuses, but what about customer service? It’s critical to be able to call someone who can assist you if you get into difficulties.
RoboForex, fortunately, offers a variety of help options. In addition to the website’s contact form, you may reach out to the company via email, phone, callback service, and live chat. RoboForex also provides service in 12 different languages from all over the world.
Conclusion
RoboForex is an excellent alternative for a wide range of traders and trading techniques. It’s a trading platform that’s been available since 2009 and offers a diverse selection of trading instruments from across the world.
It also offers a variety of account types, including STP and ECN accounts, for both beginner and experienced traders. In terms of pricing, RoboForex is generally comparable with market rates, with some reasonable charges depending on the withdrawal method you select. It also has some fantastic perks and promos. Customer service is excellent, with experienced personnel and a variety of communication options.