Last update: 16 March 2020
13 min read

RoboForex Review

$10 Min. Deposit
Up to 10% Bonus
Open account
Regulatory Body
IFSC Belize
Trading platforms
MT 4/5, cTrader, R WebTrader, R Trader, R Mobile Trader, RAMM
Customer support
Email, Phone, Live Chat
Languages support
Num of instruments

RoboForex Review

RoboForex is the sister company of better-known Forex broker RoboMarkets. While the latter is regulated by CySEC to serve the EU, RoboForex is based and regulated in Belize. This gives this arm of the company some flexibility in terms of its offering. As you will discover throughout this review, the broker certainly puts that flexibility to good use.

RoboForex offers a huge leverage potential that spans up to 1:2000 as well as a wide selection of bonuses that traders can choose from. So who is this broker suitable for? Our RoboForex broker review experts have discovered that this firm is best suited to beginners who can use the Micro account to practice trading and as well as more advanced traders, who can access the ECN account for just $5000, with low spreads and decent commissions.

Are there downsides to teaming up with this broker? Read on to find out


  • ProA wide selection of trading platforms incl. MT4/MT5, R Trader and cTrader
  • ProAccess to both ECN trading and the standard market maker model
  • Pro11,000 + assets - FX, Stocks, Indices, Equities, Commodities and ETFs
  • ProOpening a demo account is instant - practice on all platforms


  • ConTrading commissions are not the most competitive
  • ConBasic educational resources, not suitable for intermediates

Company informationCompany information

RoboForex was founded in 2009 in Belize, although it is the arm of a much larger brokerage firm called RoboMarkets, which was established in 2005. RoboForex has won over 10 awards from a variety of different publishing houses. However, arguably the most impressive facet of this broker is its incredible array of trading technology, some of which was built in house, namely R Trader.

RoboForex is an offshore broker, but don’t let that dissuade you, as this broker is reliable and has relatively few complaints made against it. In terms of security, in this RoboForex Broker Review 2020, we were pleased to discover that the broker does offer negative balance protection, which is a key feature with regards to Forex trading. It means that traders will never reach a negative balance, as RoboForex will automatically set the balance to zero before that happens.

RoboForex regulation and licensingRoboForex regulation and licensing

RoboForex, along with a handful of other brokers have opted to become regulated by the IFSC in Belize. This regulator is not known to be the strictest of the regulatory authorities, but if one of its member brokers does not comply with its requirements it will quickly lose its membership. For brokers, IFSC membership is much more appealing than with other regulatory authorities, such as the FCA in the UK, as capital requirements here are much lower.

The IFSC does set out a list of requirements from its member brokers, which include;

  • Minimum capital requirements of just $500,000,
  • Segregation of clients’ funds from broker funds,
  • Conducting due diligence for AML and KYC protocol,
  • Issuing monthly balance statements to traders,
  • Having a client complaints procedure in place.

RoboForex, online Forex broker, under license no. IFSC/60/271/TS, may not actively court clients from the EU. Furthermore, they cannot deal with anyone from Australia, Japan, the US or Canada.

To open an account with an IFSC regulated broker like RoboForex, traders must first verify their identity by uploading their identity document, as well as uploading a proof of address. As soon as the broker approves these documents, clients may deposit and start trading straight away.

It is worth noting that traders are also entitled to a member compensation fund, which is a service included with Financial Commission membership that protects up to €20,000 per case, should the broker fail to comply with the IFSC judgment.

Account typesAccount types

To cover the spectrum of trader types, RoboForex online broker offers a selection of 5 different account types excluding the demo account. These are:

Pro-Cent Account

This account uses cents rather than dollars and is excellent for beginner traders to practice trading with limited capital. It is also a great way for more advanced traders to test out their trading strategies in a real-life scenario, without committing large sums. Traders can use the MT4/MT5 and the R Trader platforms with this account type. The minimum deposit starts at just $10 and spread starts at 1.3 pips floating. The maximum leverage with this account type is a mind-boggling 1:2000, although beginners are recommended to avoid such high leverage. While it does increase the reward, it also raises the risk greatly.


This account is suitable for both beginners and intermediates and is RoboForex’s most popular account type. Traders can access all platforms, take advantage of all bonuses and access 36 currency pairs plus metals, CFDs on US stocks, CFDs on indices, CFDs on oil, and cryptocurrencies. The minimum deposit starts at just $10 and spread here also starts at 1.3 pips floating. The maximum leverage with this account is also 1:2000.


The next two account types are for Direct Market Access with an ECN account. This account is more suited for professional traders who trade in volume and expect better trading conditions.  ECN traders can use any of the platforms and access 36 currency pairs plus metals, CFDs on US stocks, CFDs on indices, CFDs on oil and cryptocurrencies. The minimum deposit here also starts at just $10 and spreads start from 0 pips. Rather than wider spreads, traders will pay commissions. Traders cannot access the bonus offers here and the maximum leverage available is 1:300.


This account brings the best trading conditions and is marketed towards the more advanced trader. The minimum deposit here is $5000 and traders can only use the MT4 and the R Trader. There are fewer assets to trade and the maximum leverage is 1:100 with spreads starting at 0 pips. No offers or bonuses are available here.

R Trader

This account type is reserved for those traders who only require the use of the R Trader platform. This account gives them access to over 11,700 assets across indices, cryptocurrencies, real stocks, CFDs on stocks (CH, DE, UK, US), Forex and ETFs. The minimum deposit here is just $100 and maximum leverage is 1:200. No bonus offers are available with this account.

Demo trading

Traders can demo trade on any of the platforms that this broker offers. Opening an account takes less than 60 seconds.

RoboForex trading costsRoboForex trading costs

When looking at spreads it is customary to look at the EUR/USD as the typical benchmark with which to compare brokers. In this RoboForex Forex broker review, we discovered that the broker charges 1.4 pips on the standard account of which the broker receives 1.3 pips. As you can probably tell, RoboForex is very transparent in showing traders how much revenue it makes from each trade.  It is also important to note that pips are floating and as such can be moved by market volatility.

Professional traders often prefer to trade with fixed spreads, so they will know their liability upfront. Remember to check out the spread of the asset you want to trade directly on the platform before trading, so you can know how many pips profit you need to bring to cover your costs.

1.4 pips for Belize based brokers seems to be quite standard and while not the most competitive, is certainly reasonable. If you are trading with the ECN accounts, the business model changes though. Rather than paying a higher spread, you will pay a lower spread along with a commission of around $15 for the trading volume of 1 million dollars. This too is slightly higher than the competition, although is not out of the realms of fairness. For index trading, the broker charges around 0.5 pips for the benchmark DAX30 and minimum commission of just $4/mio.

Other fees and charges

  • RoboForex charges no commission on deposits.
  • It will compensate traders for up to two withdrawals a month.

RoboForex payment methodsRoboForex payment methods

Our RoboForex review 2020 experts have discovered that there are 20 + payment methods accepted. These are broken down into bank payments and electronic payments. As is common with online brokers, you must withdraw to the same method in which you initially deposited into your RoboForex trading account. Electronic payments can be made by Neteller, Skrill, Webmoney and many more.  As mentioned above deposits are all free and you can have up to 2 withdrawals free a month. That means you can choose the payment method that is more convenient for you, rather than choosing the method that is the cheapest.


Once you have deposited funds into your chosen account, RoboForex will then move it to a segregated client account as stipulated in the IFSC rules. In terms of withdrawals of funds, RoboForex conducts these within a few minutes of receiving the request. Electronic payments will process straight away and appear in your eWallet almost immediately. Banking processing times will depend on your bank and can take up to 5 days.

RoboForex trading bonusesRoboForex trading bonuses

RoboForex online Forex broker offers a wide array of bonus offers, which cover the gamut from welcome bonuses, loyalty bonuses, and cash-back rebate offers for trading.

The Profit Share Bonus brings you up to 50% additional funding into your trading account from your first deposit onwards. You will be able to withdraw profits from your account at any time, although profits that come as a result of the bonus money must first comply with minimum trading volume conditions.

The Welcome Bonus is a no-deposit bonus where you can receive $30 just for opening and verifying your account. The profits are not subject to limitations and can be withdrawn at any time.

The Classic Bonus gives you up to 115% bonus into your account for your first deposit and any subsequent deposits. As is usual with this type of bonus, you must comply with minimum trading requirements to withdraw the funds.

You can also get 10% interest on the money in your deposit account, which is a great motivator for depositing funds into your account. To ensure there is no breach of the terms and conditions you will need to meet a certain amount of trading volume with your account.

RoboForex trading platformsRoboForex trading platforms

RoboForex online Forex broker offers a variety of different platforms that span the ever-popular MT4 and MT5, the proprietary web-based R Trader and STP access through the cTrader.


The most popular platform for Forex traders is the MT4, which we have seen many times before, outside of this RoboForex broker review. The platform contains 50 charting indicators for technical analysis, 3 types of order execution, and gives you the chance to auto-trade by uploading your own or pre-build Expert Advisors to the terminal. This is perhaps the feature that makes this platform so popular. RoboForex has made this platform available for download or accessible on pc and mobile devices.

  • 4 order types
  • 4 pending order types
  • 50 technical indicators
  • Customizable timeframes

The younger sister, the MT5 is the more evolved version of the MetaTrader, which comes with heightened functionality. With this platform, you can access 4 order types, check out market depth for each asset, and use 6 pending orders for risk management. With MetaTrader 5 you may also trade cryptocurrencies and trade on-the-go with the mobile app and the web version.

  • 4 order types
  • 6 pending order types
  • There are 38 technical indicators and 44 graphic objects
  • 21 timeframes


This platform is suitable for the more professional trader that likes to trade more unusual assets. The platform can be accessed either through a web browser or through a download version and there are also mobile apps to install too.

With cTrader, you can build trading robots for automated trading. The user interface is entirely customizable and you can access:

  • Rare types of orders
  • Level II Pricing
  • 54 technical indicators
  • 14 timeframes

R Trader

The R Trader is the RoboForex in-house platform that is accessible through your web browser. You never need to download software or updates. You can build robots with this platform and get access to trade over 11,700 instruments. Plus, you can receive dividend payouts for any underlying assets you purchase. If you like hedging then this is the platform for you.

Mobile compatibilityMobile compatibility

During this Roboforex broker review, we discovered that all the trading platforms come with a web version, meaning they can all be used on mobile or through your tablet. They all (except for R Trader) come with a purpose-built mobile app that can be downloaded through either the Apple App Store or through Google Play.

Mobile apps are generally a stripped-down version of the main terminal, but the features are very similar and user experience is satisfactory.

Education and trainingEducation and training

The educational materials here are sparse, apart from the tutorials, which are created to encourage trading. The level of the educational materials is aimed at the beginner. In addition to some basic guidance articles, there is a nice trading video library that you may access once you register with this broker. Additionally, there is an in-depth FAQ section which aims to answer most of the questions traders will have. It is certainly the first port of call for queries.

RoboForex customer supportRoboForex customer support

When contacted by live Chat, the member of staff at RoboForex online broker was courteous and prompt and responded to our query straight away. The level of service of Live Chat goes a long way to demonstrating the overall culture in a company. If the staff member is well trained and efficient, it indicates that the broker is potentially well-oiled. If an email is responded to quickly, it can often follow that withdrawal requests are made promptly. So it is worth testing out the customer service department of any broker before working with them.

To get in touch with RoboForex, you can phone the company directly or email them.

RoboForex – Our verdictRoboForex – Our verdict

In this RoboForex review, it is fair to conclude that this broker is reliable and professional. While opening an account with RoboForex, you will be offered a selection of cutting-edge trading technology, which includes copy trading software and market analysis too. You will be able to choose from a variety of transparent bonus offerings and will be offered access to a decent amount of assets with competitive trading conditions.

It is worth trying this broker out and in fact, you can do so for free with the demo trading account or with a small minimum deposit of just $10. Sign up now.

Frequently asked questions (FAQ)

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