Since there is a big chunk of forex traders are available in the market, you will find many forex brokers as well. Every one of them is offering lots of features and advantages. Therefore, it is getting challenging to choose the best forex broker that can match up with your expectations.
I believe RoboForex is one of the few reliable forex brokerage platforms. The goal of this RoboForex review is to introduce you to their facilities that will create a significant positive impact on your forex trading journey.
So, let’s begin the journey to get a more in-depth idea about RoboForex that how it can be the best mate for every trader in the industry.
What is RoboForex?
RoboForex is another well-known forex broker in the trading industry that is founded in 2009. With a massive capacity and growth rate, the forex broker is running its activities in 169 countries.
Not just that, the company already gained interest and reliability from over 800,000 clients all over the world.
The RoboForex Group is currently responsible for RoboForex operation. IFSC is regulating the company under license number IFSC/60/271/TS.
Detailed Review of FBS
Indeed, this section will help you to understand the maximum feasibilities behind RoboForex’s acceptance. So, it would help you to find out what are values you will get on that platform.
At A Glance
RoboForex got people’s attention when they first announced that users would get up to a 50% bonus of your deposit, which is nearly 10,000 USD. Besides, there are flexible conditions while investing in indices. Let’s find out more about its facilities.
Trader Account Type
There are bunches of account opening options on RoboForex. You can trade with USD, EUR, CNY, and gold with the Pro-Standard, Prime, ECN-Pro, and Pro-Cent accounts. All of them will require at least $10 of the opening deposit. But the Prime account should have 5000 USD to start trading.
Make sure to catch up with the facilities of the R-Trader account also. It entails 100 USD to open an account. But remember, you can only trade with USD and EUR currencies.
Here on RoboForex, the maximum leverage is 1:2000 for Pro-Cent and Pro-Standard accounts. ECN-Pro consisted of with1:300 of maximum leverage. For Prime clients, it’s 1:100. You can also hook up with the R-Trade account that is offered with up to 1:200 of leverage.
Both of the Pro-Standard and Pro-Cent users can achieve a spread that starts from 1.3 points. I would say the platform can be a good start for those who wants to get Prime and ECN-Pro because these have floating start points from 0 points.
And lastly, I highly recommend starting your trading business on RoboForex if you want to get more than 50% on your deposits. Plus, there is no commission on withdrawal whatever currency you are trading.
I always prefer trading with a broker that gives you the eligibility to hold minimum order volume. Indeed, that is the reason RoboForex caught my eyes when I started forex trading.
Minimum Order Volume
- 01 lots for Pro-Standard, ECN-Pro, and Prime accounts
- 1 Lot for Pro-Cent accounts
- 1 Stock for R-Trader accounts
Maximum Order Volume
- 100 lots for Pro-Standard accounts
- 50 lots for ECN-Pro, Prime accounts
- 500 lots for Pro-Cent accounts
- 2000 Stocks for R-Trader accounts
Available Trading Instruments
Another reason, it could be the best forex trader platform because of its access to a versatile and wide range of trading instruments. With the Pro-Standard account, you can trade up to 36 currency pairs, metals, and CFDs. The same limit goes for ECN-Pro and Pro-Cent account holders.
However, Prime users will be restricted to trade with up to 28 currencies and cryptocurrencies, metals, and CFDs. Here, I found the R-Trader account could be more beneficial since there are more than 11,700 trading instruments available for the particular account holders.
RoboForex is a quite user-friendly forex broker with its large number of trading platforms. You can choose to trade between MetaTrader 4, MetaTrader 5, cTrader, and R-Trader. Each of these comes up with different offerings. Let’s jump into them one by one.
MetaTrader 4 Platform
MT 4 is one of the most acquainted platforms in the industry. Nonetheless, to traders, it is the unquestionable leader right now. It is included with necessary features and tools for starter and pro traders. Advantages are –
- 3 categories of order execution
- 50 built-in indicators for analysis
- Graphical analysis tools
- Eligibility to program own trading robot
MetaTrader 5 Platform
If you are like-minded to adapt the utmost advanced terminal for trading, then MT 5 is the coolest platform to hope in. With the upgraded and distributed order execution technology, you can accomplish aspiring trading ideas.
It also helps you to create and trial trading plans and robots. Besides, the trading platform is the best suit if you are fond of speed and reliability. Advantages are –
- 4 categories of order execution
- Market analysis
- Multi-currency tester
- Trading flexibilities
- 6 types of pending orders
I will prefer only experienced traders to look for this platform. Because experience traders want more speed for order implementation. And they also require a vast range of unconventional instruments to succeed in trading. Advantages are –
- Level 2 pricing
- Built-in 54 upgraded indicators
- 14 timeframes
- Unique types of orders
- Customizable personal robot
- Advance market analytics
Web Platform for R-Trader
And lastly, RoboForex has a web platform that allows you to access global markets from only one account. With cutting-edge technologies and adaptive design, you can get access to any market analytics and build your own trading strategy. Advantages are –
- Easy to use
- Only a 100 USD deposit requires to start
- Up to 1:20 stock leverage
- Improved watch lists
- Can build a trading robot
- Access to 11,700 instruments
Why You Should Trade With RoboForex
The first reason you should choose RoboForex is you will get 30 USD just after signing up. So, there is no risk with your money. What more can we expect from a forex broker? Besides, you will see a different bonus program in 365 days on RoboForex, which allows the users to grab maximum seasonal opportunities.
Reasons You Should Trade on RoboForex
- 30 USD bonus after sign up
- Leverage value up to 1:2000
- Up to 115% bonus
- Profit share bonus program
- Professional analytical service
- The payment process for multiple currencies
The best thing about RoboForex is there are lots of opportunities available for their clients across the year. You will get versatile and localized trading, cashback, easy to adapt trading conditions if trading with RoboForex. Definitely, that shows their concern about the traders who are investing their lifelong savings in trading.
I have tried to share those features, and my fractional thought about the platform that I have I experienced through my journey. For sure, the RoboForex review helped you to reach your decision. Let me know your view in the comment section. Good luck.
What Is Regulation?
Forex regulation is therefore all about consumer protection. Regulated Forex brokers are less likely to cheat their clients and where such infractions happen, regulators are empowered by the laws of their respective jurisdictions to apply appropriate sanctions.
What is Base Currency?
In the forex market, currency unit prices are quoted as currency pairs. The base currency – also called the transaction currency - is the first currency appearing in a currency pair quotation, followed by the second part of the quotation, called the quote currency or the counter currency. For accounting purposes, a firm may use the base currency as the domestic currency or accounting currency to represent all profits and losses.
|Type Of Brokers
There are two types of brokers: regular brokers who deal directly with their clients and broker-resellers who act as intermediaries between the client and a larger broker. Regular brokers generally are held in higher regard than broker-resellers.
What is Trading Platform?
A currency trading platform is a software interface provided by currency brokers to their customers to give them access as traders in the Forex markets. This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three.
|Desktop, Mobile, cTrader|
|Acc Funding Methods||Skrill, Neteller, Visa Card, Master Card, UnionPay, PayPal|
|Acc Withdrawal Methods||Skrill, Neteller, Visa Card, Master Card, UnionPay, PayPal|
Trading Account Options
Leverage is the use of borrowed funds to increase one's trading position beyond what would be available from their cash balance alone. ... Forex traders often use leverage to profit from relatively small price changes in currency pairs. Leverage, however, can amplify both profits as well as losses.
What Is Mini Account?
A forex mini account is a foreign exchange (FX) account which allows beginner traders to enter the currency market using smaller size (mini lot) positions and trading quantities, thus lowering the funds at risk and limiting potential losses.
What Is Segregated Account?
Segregated account is an important term in the context of Forex trading in which a broker holds their client funds in segregated (separate) accounts that are different from the broker's core banking account. Segregated accounts are used to differentiate between the broker's working capital and its client investments.
|Free Demo Accounts|
What Is Managed Accounts?
A managed forex account is where a professional trader/money manager manages the trading on the clients' behalf. The account is made up of a personalized portfolio owned by a single investor. The portfolio and account is handled accordingly to the investors needs.
|Minimum Deposit||1 USD|
What Is Islamic Account?
An Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in the Islamic stock market following the principles of Islamic finance. ... As Sharia law prohibits the accumulation of interest, traders with Islamic accounts do not pay or receive interest rates.
Contact Information & Support
|Telephone No||+65 3158 8389|
|24 Hours Support|
|Support During Weekends|
|Address||9724 Ramiro Duran Street, Belize City, Belize|
RoboForex Trading Features
Spreads And Commission
What Is Spreads?
The forex spread is the difference between a forex broker's sell rate and buy rate when exchanging or trading currencies. Spreads can be narrower or wider, depending on the currency involved, the time of day a trade is initiated, and economic conditions.
RoboForex Release 6 Bonuses
What Is Hedging?
Hedging with forex is a strategy used to protect one's position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way. One is to place a hedge by taking the opposite position in the same currency pair, and the second approach is to buy forex options.
What Is Scalping?
Scalping in the forex market involves trading currencies based on a set of real-time analysis. The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit.
What Is Indices?
The indices track the underlying prices of the currency pairs within that index. If the individual forex prices in that index increase, then the value of the index will go up. Conversely, if the individual FX prices decrease, then the value of that index will fall.
What Is Commodities?
The commodity pairs, or commodity currencies, are those forex currency pairs from countries with large amounts of commodity reserves. ... Traders and investors looking to gain exposure to commodity price fluctuations often take positions in commodity currency pairs as a proxy investment to buying commodities.
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