RoboForex Broker Review
RoboForex is an online financial services provider offering a wide variety of assets for competitive trading conditions. This broker has an impressive range of platforms, including the famous MetaTraders. This broker also offers good bonuses and deposits.
RoboForex Regulation and Security
RoboForex was established in 2009 and headquartered in Belize. It operates under the regulation of the International Financial Services Commission (IFSC) with good standing. This broker provides more than 12,000 trading instruments spanning in 8 asset classes. It also offers 4 trading platforms and 2 investment platforms.
RoboForex Ltd is regulated by the IFSC with license number 000138/107. It has a membership in The Financial Commission under category A, and participates in the Compensation Fund Scheme, which insures all RoboForex clients up to 20,000 EUR per case. This broker provides negative balance protection and holds Civil Liability Insurance. Given the merits of its reputation and security standards, RoboForex is considered to be a safe and legitimate online broker.
In more than a decade of services, RoboForex has maintained a clean reputation. It grew a big client base and has handled over 3 million live accounts since it was founded. It has also secured partnerships with many brands and services along the way.
RoboForex Platform Services
RoboForex offers a decent range of platform services, including MetaTrader platforms. Other than that, RoboForex offers two more interesting platforms that will surely hook traders.
MetaTrader4
MT4 is a classic in foreign exchange trading, and offers a wide range of tools and indicators that help traders create profitable trades. This platform has a simple but intuitive interface, allowing even beginners to navigate it with ease. It has more than 50 built-in technical indicators and graphical tools, as well as 3 order execution types. Users can also develop their own trading bots with StrategyQuant and enjoy the one-click trading capability.
MetaTrader5
Traders have full access to MT5’s cutting edge technology, which is known for its reliability and speed in advanced trading. This platform has a flexible system that offers netting and hedging, as well as market depth, 4 order execution types, 6 pending order types, and a wide range of graphical tools and technical indicators. This trading platform is compatible with any browser, but is also available on desktop.
cTrader
This platform is a great alternative to both MetaTrader platforms, since it offers a great terminal and rare access to different order types. This platform uses level II pricing, has 54 built-in technical indicators, 14 timeframes, and 9 chart types. Traders also have the liberty to develop trading bots and indicators with the cTrader’s Automate. This platform can be used on desktop, but can also be accessed by MacOS users through the web.
R Trader
This platform is easy and convenient to use, with a classically-designed interface and access to global markets. The R Trader platform has 13 built-in technical indicators, 9 graphical tools, Level II market depth, and an automated strategy tester. Also, it is equipped with netting and hedging capabilities.
RoboForex Trading Conditions
As already stated above, RoboForex offers a wide range of tools and assets, reinstating that it also offers great trading conditions. Below are only some of the highlights of this broker’s offerings:
Assets
RoboForex has access to more than 40 currency pairs, 12,000 global stocks, 10 global indices, 100 commodities, including energies and precious metals, and ETFs. Other than those, RoboForex also offers over 26 cryptocurrencies and cryptoindices, one of the rare products offered by this broker.
Spreads & Commissions
The spread and commission levels will depend on the trading account the trader chooses. However, these are still fairly competitive when compared to other brokers. RoboForex offers two live accounts: Pro Cent and Pro Standard, whose spreads average at 1.4 pips for the EUR/USD forex pair. Spreads for U.S. indices average at 1.75 pips and 22 pips for the XAU/USD commodity. RoboForex’s other accounts, which are ECN and Prime, offer tighter spreads, with an even 0 pip for several asset classes.
Leverage
The maximum leverage at RoboForex is 1:2000 for the Pro Cent and Pro Standard accounts. This is a relatively high leverage level, which is often very risky. The ECN account offers a leverage of up to 1:500, while the Prime and R Trader accounts offer a 1:300 leverage level.
RoboForex Conclusion
RoboForex has established a good following of traders because of its good range of services and competitive trading conditions. It is an industry leader in providing a variety of trading platforms, which includes the popular MetaTrader 4&5. It also reinforces a good deal of security measures, including a negative balance protection, to ensure that their clients’ funds are safe from market risks. Overall, the security standards and sophisticated range of services provided by RoboForex makes it a good choice of a broker.
