RoboForex Review 2024 With Rankings – By Dumb Little Man

By Vanessa Richards

January 10, 2024   •   Fact checked by Dumb Little Man

Overall Rating

Overall Ranking

Trading Terminals

4.8

2nd

What’s the key to successful trading in 2024? Hedging & diversifying your trading assets.

When you invest in different asset classes, you get to minimize your risk of losing money when financial markets are unpredictable. That’s why new-age traders prefer using multi-asset brokers.

RoboForex is reportedly one of the most highly-rated multi-asset brokers in the world. So, we’re reviewing this broker to see if it’s worth all the hype that’s surrounding it. In this RoboForex review, we’ll assess how this multi-asset broker compares to other brokers in the market like Avatrade, Alpari, & FX Choice.

A good broker should enable traders to watch over their trading assets in a simple, cheap, & easy way.

Does the RoboForex trading platform meet these standards? More importantly, is this popular trading platform reliable & does it provide clients with optimal trading conditions?

In this RoboForex review, we’ll answer all of these questions.

RoboForex Overview

RoboForex was founded in 2009. Since then, the global broker has amassed close to 5 million active users.

RoboForex currently offers 12,000+ trading options and 8 different asset classes. RoboForex has a sophisticated trading ecosystem. Thanks to its extensive selection of trading platforms which include the likes of MetaTrader 4, MetaTrader 5, cTrader, & RTrader.

RoboForex’s license number is 000138/333 & it’s subject to FSC regulations. To conduct our RoboForex review, we conducted market research, & testing the platform’s usability.

Evaluation Criteria

Here are the main criteria we used to conduct this RoboForex review:

▪️ Cost-efficiency of the platform (comparing commission fees, charges, spreads, etc.)

▪️ The broker's technical competency (assessing the tools, trading instruments, etc.)

▪️ The broker’s reliability

▪️ Profitability by reviewing the platform’s trading success rate

▪️ Convenience in terms of mobile trading & other advanced trading features

We also surveyed users with active retail investor accounts on the platform to determine if RoboForex offers tight spreads, fast order execution, & other value-added services to give traders a competitive edge.


After completing our evaluation, we found that RoboForex is one of the most cost-effective
Forex brokers in the industry. Spreads on the platform float from 0 pips. Traders have the option to gain leverages of up to 1:2000. Traders on the platform also get to choose from a variety of account types, depending on their trading styles.

RoboForex’s method of trade execution is super-fast. The company also has an extremely reliable customer support team that’s accessible 24/7. After reading our
RoboForex review, you’ll be able to determine whether you should start trading on this platform.

What is RoboForex?

Roboforex Review
Photo: Roboforex

RoboForex is one of the world’s fastest-growing multi-asset brokers.

Unlike a standard Forex broker, a multi-asset broker will allow traders to access a variety of trading assets & asset classes. For e.g., forex brokers will give you access to trade/invest in the foreign exchange market. A multi-asset broker like RoboForex will offer more.

On the RoboForex mobile trading app, you’ll get access to trade/invest in multiple financial markets, not just the Forex market. They include ETFs, commodities, currency pairs, indices, stocks, CFDs, & metals.

You’ll also get access to different types of trading instruments & trading tools.

Based on which trading strategies you’re comfortable with, you can even open different types of trading accounts on the platform. RoboForex is widely recognized as a reliable multi-asset trader platform. It is regulated by the International Financial Services Commission in Belize.

RoboForex has close to 5 million active users from over 169 countries. RoboForex Ltd. has an international license to provide financial services from FSC Belize.

The company’s official address is Guava Street Belama Phase 1.

This multi-asset trading platform has won numerous prestigious awards, including the International Business Magazine’s “Most Trusted Broker” award & Global Forex Awards’ “Best Mobile Trading App” award.

It also has a Civil Liability Insurance Program (limit €5,000,000). That means all traders on this platform, including Forex traders, get market-leading coverage against fraud, negligence, errors, & other risks that may hamper their financial stability. The company also has a European license from the Cyprus Securities and Exchange Commission (CySEC).

The platform offers users the ability to open a variety of trading accounts. These accounts cater to all levels of trading: from experienced traders to first-time traders who are new to mobile trading.

The trading costs on this platform are also quite low. For example, unlike most Forex brokers, RoboForex doesn’t charge financial commissions or fees on its Pro account. Now, let’s assess some of the finer details of this trading platform.

Safety and Security of RoboForex

RoboForex is legitimate. The company (RoboForex Ltd.) is regulated by various financial services commissions & it has won many awards for its reliable services.

But, a new-age forex broker’s reliability depends mainly on the software it uses. So, what software does RoboForex use? MetaTrader 4 and MetaTrader 5.

Both MT4 & MT5 represent the gold standard in the trading world. The two platforms are famous for being feature-heavy & user-friendly. For example, MT4 comes with various advanced trading tools. It also offers three different types of order execution, up to fifty technical indicators, & a variety of graphic analysis tools.

MT5 is the most popular system on RoboForex & it’s a cut above MT4. In addition to having all the key features of MT4, MT5 offers four different types of order execution, a multi-currency tester, six different types of pending orders, & a variety of automated trading solutions.

But, what if you want something else other than the MT4 and MT5 trading suite? Then, you can use RoboForex’s cTrader platform.

This platform is designed for experienced traders who work with rare & unconventional trading instruments. cTrader comes with 54 technical indicators, 14 timeframes, & super-fast order execution speed.

RoboForex also offers R Trader, a multi-terminal web platform designed for advanced trading. The r trader platform is ideal for trading multiple leveraged products all through one single RoboForex account.

The fact that RoboForex offers so many glitch-free software systems is a testament to its security & reliability. Thanks to these multiple platforms, RoboForex mobile trading is a very smooth & secure process.

Sign Up Bonus of RoboForex

Most Forex brokers offer three types of bonuses to active traders: a welcome bonus, a no-deposit bonus, & a deposit bonus. RoboForex offers these three bonuses & two additional bonuses to beginners & experienced traders. Here are all the bonus programs that RoboForex offers:

RoboForex Profit Share Bonus

Customers receive additional funds of up to $20,000 whenever they deposit any sum of money into their trading accounts. This bonus can be put to use during “drawdowns”.

Welcome Bonus

As soon as you start trading on RoboForex, you’ll receive a welcome bonus of $30. Only verified account holders (not demo account holders) receive this bonus.

Classic Bonus

This bonus is accrued when your deposit is replenished. It can go up to 120% of the balance of your deposit.

RoboForex Cashback

The higher the trading volume on RoboForex, the more of this bonus you’ll receive. That’s right – RoboForex shares its profits with each customer. If the trading volume on this platform is high, you’ll get a compensation of up to 5% for the spread.

Loyalty Program

Active trading account holders receive up to 10% of the overall balance of their trading accounts as rewards for being loyal to the trading platform.

Minimum Deposit of RoboForex

RoboForex offers five different live-trading accounts. Here are the minimum deposit amounts required to open each of these trading accounts:

  • Prime: $10 or €10
  • ECN: $10 or €10
  • ProCent: $10 or €10
  • Pro: $10 or €10
  • R Trader: $100 or €100

Bear in mind – just because an account type has a very low minimum deposit requirement, it doesn’t mean that you’ll be allowed to start trading with that low amount. That’s because generating high returns with a small amount requires trading with higher margins. The risk involved in such a trading strategy is extremely high.

Account Types on RoboForex

RoboForex offers five different types of accounts to traders. They are:

Pro

Classic pro accounts for beginners and experienced traders. Pro accounts on RoboForex are ideal for small trading volumes.

Pro-Cent Accounts

Cent accounts offer spreads from 1.3 pips. They’re perfect for traders who want to experiment with different trading strategies. By topping up your account with just $10, you can open trade positions of up to a thousand base units.

Electronic Communications Networks (ECN)

ECN accounts are professional trading accounts with maximum liquidity & zero spreads. If you’re interested in trading large amounts of different asset classes, an ECN account will be ideal for you.

Prime Account

This is a relatively new type of RoboForex-regulated trading account designed exclusively for experienced traders. With a Prime RoboForex trading account, you’ll get the best features of an ECN account.

They are – spreads from 0 pips, access to 28 currency pairs, minimum deposits of $10, & CFD trading.

R Trader Platform

You can use this account for trading CFDs (on stocks, Forex, metals, etc.), indices, stocks, & even cryptocurrencies. You can create & use an R Trader account via RoboForex’s R Trader web platform or mobile app. The minimum deposit for an R Trader account is $100.

Select any type of trading account based on your trading style & your general approach to financial markets. To start trading, you’ll have to register your name in the Members Area (find it on the website or on the RoboForex mobile trading app).

Then, you can choose any one of these five trading account types and open your own trading account. Beginners can even sign up for free trading contests to kickstart their Forex trading journeys! RoboForex also offers users the chance to create & use unlimited demo accounts. This rule is applicable for r Trader, MT4, MT5, and RoboForex’s proprietary trading platform.

These demo accounts are perfect for testing the advice of experienced traders. You can use your RoboForex demo account to recreate the trading conditions live Forex trading account holders experience.

RoboForex Customer Reviews

As stated before, there are millions of standard and ECN accounts that are currently active on the RoboForex platform. Many of these users have left customer reviews detailing their experiences on this trading platform.

Here are some examples of good & bad customer reviews left by RoboForex users:

Traders Reviews

In general, most RoboForex reviews online are positive, although there are some complaints regarding withdrawal time. When some users register complaints, the RoboForex customer support team responds to them very quickly.

Some basic complaints were also registered on the platform’s official customer support page. For every complaint made, RoboForex’s customer support team offered swift responses. Overall, the RoboForex customer support team is one of the main reasons why this popular trading platform is so highly rated by users.

RoboForex Spreads, Fees, & Commissions

The EUR-USD spread on RoboForex starts at only 0.0 pips. In comparison, the EUR-USD spread on Avatrade starts at 0.9 pips, & on FX Choice, it starts at 0.5 pips. The lower the spread a broker offers, the higher the chances of traders booking profits. That’s why we were extremely impressed with RoboForex’s spread fees.

Here’s a more detailed look at RoboForex’s spread offerings for different account levels:

Pro-Standard Account: Variable spreads from 1.3 pips; 0 commission.

ECN Account: Variable spreads from 0.0 pips; only $20 commission per 1-million USD trades.

Prime Account: Variable spreads from 0.0 pips; only $15 per 1-million USD trades.

Pro-Cent Account: Variable spreads from 1.3 pips; 0 commission

R Trader Account: Variable spreads from 0.01 pips; minimum commission only $1.5

Are RoboForex’s spread commissions lower than most international Forex brokers? No. When compared to competitors such as Exness (where spreads range from 1 to 1.3), RoboForex is a less budget-friendly broker. Despite this, we think RoboForex spread fees are very trader-friendly.

Why? Because RoboForex offers many rebate programs that you can use to lower the commission fees. For example, RoboForex offers a “Cashback” program that verified traders can use to receive additional profits, irrespective of their account type.

We also assessed the trading and non-trading commissions on RoboForex. The broker’s spread was considered in the trading commission category. No additional fees are charged for withdrawing funds (i.e., there are no non-trading commissions).

Here’s a gist of the broker’s spreads in the trading commission category:

Pro-Standard Account: $13

Pro-Cent Account: $13

ECN Account: $3

Prime Account: $1

The pro account (commission-free) features an average spread of 1.4 pips. That’s roundabout $14.00 per standard lot. In terms of commission-based options, RoboForex is very cheap compared to other brokers. The ECN account features an average spread of 0.1 pips. For ECN accounts, there’s a maximum commission of $20.00 per lot.

The pro account (commission-free) features an average spread of 1.4 pips. That’s roundabout $14.00 per standard lot. In terms of commission-based options, RoboForex is very cheap compared to other brokers. The ECN account features an average spread of 0.1 pips. For ECN accounts, there’s a maximum commission of $20.00 per lot.

RoboForex CFD Spreads and Fees

RoboForex offers users the chance to trade a variety of currency pairs. Here are the RoboForex spread fees for the most popular currency pairs:

  • AUD/CAD: The average spread for 1 pip-size (0.0001) is 3.1. The broker revenue per-lot is $14.64.
  • USD/JPY: The average spread for 1 pip-size (0.01) is 2.0. The broker revenue per-lot is $14.86.
  • USD/CAD: The average spread for 1 pip-size (0.0001) is 2.2. The broker revenue per-lot is $12.20.
  • EUR/USD:0.0001: The average spread for 1 pip-size (0.0001) is 1.4. The broker revenue per-lot is $13.

The commission fees can be a fixed payment or a % of the trade value. For instance, if you were to trade the currency pair EUR-USD with a commission of 2 pips, 4 pips would be your total cost. That’s 2 pips for the initial bid and 2 more pips for the ask.

Forex Trading Fees on RoboForex

Forex trading fees generally tend to be costly because they include the spread. On top of that, some brokers charge commissions on every trade that’s executed. Thankfully, RoboForex has minimal commission fees, making Forex trading on the platform very cheap. There are no trading fees for RoboForex Standard Account holders either.

The ECN account fee is approximately $2 per lot. That’s considerably lower than the industry average. For example, popular trading platforms like Exness & Forex4You charge up to $8 a lot. The ECN account average spread for Forex trading on RoboForex is 0.1 pip. That’s the same rate that other brokers like Exness or Forex4You offer.

Here’s a brief overview of Forex trading fees on RoboForex:

  • Standard Account EUR & USD Average Spread:1.4 pips; Standard Account Fees: $0
  • ECN Account Average Spread: 0.1 pip; ECN Account Fees: $2 per lot

RoboForex Non-Trading Fees

RoboForex doesn’t charge any non-trading fees. For example, if your inactive account has funds, the trading platform won’t write them off. There are no deposit fees either. You may have to pay a small fee to withdraw funds if you use a credit/debit card (2% fee). If you use an e-wallet like Skrill or PayPal or Skrill to withdraw funds, the fee will be based on the payment company’s policies.

Deposit and Withdrawal on RoboForex

Here are the minimum deposit amounts required to open each of these different trading accounts:

  • Prime: $10 or €10
  • ECN: $10 or €10
  • ProCent: $10 or €10
  • Pro: $10 or €10
  • R Trader: $100 or €100

RoboForex takes no commission when you deposit or withdraw funds from your trading accounts. However, your bank or your payment system may charge a fee when you deposit or withdraw funds. For instance, a fee of 2.6% + $1.3/2.6% + €1 applies to credit or debit card withdrawals.

Now, let’s look at what currencies are acceptable on the platform when depositing funds into a RoboForex account:

  • CHF – Swiss Franc
  • KZT – Kazakhstani Tenge
  • GBP – Pound Sterling
  • UAH – Ukrainian Hryvnia
  • PLN – Polish Zloty
  • IDR – Indonesian Rupiah
  • CLP – Chilean Peso
  • AUD – Australian Dollar
  • AED – United Arab Emirates Dirham
  • MYR – Malaysian Ringgit
  • EUR – Euro
  • VND – Vietnamese Dong
  • KHR – Cambodian Riel
  • MMK – Myanmar Kyat
  • LAK – Lao Kip
  • THB – Thai Baht
  • CNY – Renminbi
  • BRL – Brazilian Real
  • USD – United States Dollar

Now that you know what currencies RoboForex offers, let’s go through the process of depositing funds into your RoboForex trading account:

  • Log into your RoboForex account’s “Members Area” section
  • Enter the Deposit Funds page
  • On this page, find a drop-down menu; on this menu, choose the account you wish to make deposits in
  • Select your preferred payment method (bank payments, electronic payments, bank cards, or cash vouchers)
  • Decide whether you want to receive the bonus funds
  • Choose your percentage (of bonus funds)
  • Specify the amount you aim to deposit
  • Specify the currency you aim to make the deposits in
  • Click Deposit funds

Once you click deposit funds, you’ll be asked to provide extra information regarding your preferred payment method. Provided this information & confirm the deposit to complete the transaction. As stated before, there are no deposit fees on RoboForex.

Holders of retail investor accounts, ECN accounts, trading accounts, or even demo accounts don’t have to pay any fees for depositing money into RoboForex. The time required to deposit money on RoboForex will depend on the deposit method you’re using:

  • Deposits via electronic payments (e.g., PayPal or Skrill) typically happen instantly; however, in some cases, they can take up to 24 hours.
  • Bank payments typically take 1 to 3 days to process
  • Card payments typically 24 to 48 hours to process
  • Deposits with cash/vouchers take up to 24 to 48 hours to process

RoboForex Account Currencies vs Competitors

You can use up to 19 different currencies to deposit funds into your RoboForex account. However, the deposited amount in your trading account or personal account will appear in one of four currencies: USD, EUR, CNY, or GOLD.

That’s because as soon as you deposit funds into your RoboForex account, they’re converted into one of these currencies as per RoboForex’s internal exchange rates. Forex traders on RoboForex have the option to trade:

  • 36 different currency pairs
  • four cryptocurrency pairs
  • 100+ commodities
  • 10+ index CFDs
  • 12,000+ equity CFDs
  • 1,000+ ETFs

Compared to other popular trading platforms, RoboForex offers a low number of currency and cryptocurrency pairs.

Here’s how RoboForex compares to its competitors in this category:

  • RoboForex: Currencies Offered are USD, EUR, CNY, & GOLD
  • Ava Trade: Currencies Offered are USD, EUR, & GBP
  • Exness: All major currencies are offered including CNY, CAD, AUD, USD, EUR, GBP, and others

Overall, the currency options on RoboForex aren’t the best. But, compared to industry standards, they aren’t the worst either. But, when it comes to other trading instruments (e.g., trading CFDs) RoboForex offers many choices.

Negative Balance Protection on RoboForex

RoboForex offers automatic negative balance protection features to Forex traders. In Forex trading, there are situations where market volatility prevents traders from keeping their accounts balance positive. In such instances, RoboForex’s negative balance protection feature comes in handy. The Forex trading platform essentially resets their account balance to zero, instead of letting it become negative.

RoboForex Affiliate Program

Not interested in trading CFDs, copy trading, or undertaking any trading costs whatsoever? No worries. You can make money with RoboForex even if you don’t have any trading history or trading skills. Just join RoboForex’s affiliate program & you can earn up to 50% of the RoboForex mobile trading platform’s income. Here’s how:

  • Register on RoboForex as a partner
  • Receive referral links & other informative materials from RoboForex Ltd.
  • Post these materials on your website, blog, or social media pages
  •  Encourage your followers to use your referral link to deposit capital in his/her personal account
  • For every deposit made via your referral link, your RoboForex account will be credited with a commission
  • You can receive these “partner commissions” every 24 hours; your partner commissions will be automatically transferred to your RoboForex account on a daily basis
  • You can withdraw funds (your commission) at any time via over 20 payment systems
  • There are no payout limits or restrictions on the maximum payments per account/month. All members of the affiliate program receive 24/7 RoboForex customer support. If an affiliate wants access to new marketing materials, he/she can contact the trading platform’s customer support service team at any time.

RoboForex Customer Support

The reliability of RoboForex’s customer support team is one of the many reasons why RoboForex is one of the most popular trading platforms in the world. Whether you’re an experienced trader, an affiliate, or someone who is only interested in copy trading: RoboForex’s customer support team is at your service 24/7.

The RoboForex customer support team is available 24×7 via email, social media, & live chat. This team is equipped to provide instant customer support to users in 12 different languages, including Arabic, English, Spanish, & Malaysian. Timely assistance from RoboForex’s customer support team is the main reason why this trading ecosystem is thriving.

Advantages and Disadvantages of RoboForex Customer Support

Advantages Disadvantages
Multilingual support✖ Some RoboForex account holders have complained about not receiving timely support
➼  Available 24/7 through multiple channels, including – phone, email, & online chat on the website
✖ The online chat feature on the company’s main website is unresponsive sometimes
➼ Ticket system for complaints from personal account holders is very efficient
➼ Callback service is available

RoboForex Vs Other Brokers

Given that RoboForex offers so many educational resources & options to open demo accounts, it’s clear that the platform is catering to both beginners & advanced trading experts. But, how does it compare to similar platforms? Here’s how RoboForex compares to some of the most popular trading platforms in the world:

#1. RoboForex vs Avatrade

Roboforex Review

AvaTrade is over 16 years old. It currently has 200,000+ registered users which is nothing compared to RoboForex’s 5 million user count. But, the platform does process over 2 million transactions per month. So, it’s clearly a good broker that many users find reliable. Here’s how AvaTrade compares to RoboForex:

Trading Experience

Both AvaTrade & RoboForex hold multiple accreditations. AvaTrade holds accreditations in multiple countries including Ireland, the UAE, & the British Virgin Islands Financial Services Commission. RoboForex Ltd is regulated by the FSC & by the International Financial Services Commission. Since AvaTrade is more highly regulated, maximum leverage trading is more difficult on the platform. On the other hand, RoboForex encourages maximum leverage trading (up to 1:2000).

Trading Instruments

There’s no ECN account on AvaTrade. RoboForex offers ECN accounts and supports over 9000 trading assets.

Trading Fees

Although both platforms offer low trading and non-trading fees, RoboForex is customer-friendlier in this aspect because it offers instant fund withdrawal features. Withdrawing funds on AvaTrade requires more time.

Bonus Programs

RoboForex offers more high-quality bonus programs than AvaTrade.

Copy Trading

Both platforms offer advanced copy trading tools. But, earning passive income via copy trading is easier on RoboForex because users can create trading robots on the platform. AvaTrade doesn’t allow users to create their own trading robots.

Type of Broker

AvaTrade is a market maker type of broker. RoboForex is an ECN type of broker. It’s more efficient at connecting traders directly. Whereas market makers like AvaTrade serve solely as intermediaries.

Overall, AvaTrade isn’t as appealing as RoboForex, especially if you’re new to Forex trading. If you need a lot of educational content & cost-effective bonus programs, RoboForex is the better choice. Plus, AvaTrade’s support service team isn’t nearly as responsive as RoboForex’s customer support team.

#2. RoboForex vs Alpari

Roboforex Review

Alpari has been a critical player in the international foreign exchange market since 1998. Just like RoboForex, Alpari has earned many awards, including the International Finance Magazine Award of 2013. Here’s how this platform compares to RoboForex ten years after the award:

Trading Experience

Both Alpari & RoboForex offer a large number of trading accounts. Traders of different experience levels can use these accounts to trade a variety of trading assets. But, on Alpari, there’s no trading on weekends. Maximum leverage trading is also not offered on the platform.

Trading Instruments

Both platforms offer a wide variety of financial instruments for Forex trading. They include CFDs, currency pairs, spot metals, etc. But, trading on Alpari’s MT5 platform is only available to traders with standard accounts. RoboForex’s MT5 platform allows all types of account holders to trade all types of financial instruments.

Trading Fees

Both platforms offer low trading and non-trading fees, RoboForex is customer-friendlier in this aspect because it offers instant fund withdrawal features. Withdrawing funds on Alpari requires more time because of the “no trading on weekends” rule.

Bonus Programs

RoboForex offers way more bonus programs than AvaTrade.

Copy Trading

Both platforms offer advanced copy trading tools. But, copy trading is easier on RoboForex because traders can create & launch their own Forex EA or Forex bots.

Type of Broker

Alpari is catered towards experienced brokers who make limited numbers of trades per week. RoboForex is active 24/7 & it’s catered towards both young & experienced traders.

Alpari has a good reputation in the international broker services market. That’s why it boasts over 2 million traders in 2023. But, in terms of activity & features, RoboForex is way more advanced than this Russian Forex trading platform.

#3. RoboForex vs FX Choice

Roboforex Review

Both FXChoice & RoboForex are based in Belize & licensed by the International Financial Services Commission. FXChoice is a relatively new name in the international financial services industry. But, since its establishment in 2010, the platform has attracted hundreds of thousands of users. Here’s how it compares to RoboForex:

Trading Experience

RoboForex attracts millions of users because of its low minimum deposit fees. Minimum deposit fees on FX choice are way higher ($100 compared to $10 on RoboForex). The platform also doesn’t offer cent accounts. FXChoice also doesn’t support withdrawals via Visa/Mastercard debit or credit cards. That’s the why overall trading experience on FXChoice isn’t nearly as good as RoboForex.

Trading Instruments

Both platforms offer a wide variety of financial instruments for Forex trading. FXChoice offers tight market spreads (from 0.0 pips) on several popular currency pairs. In this aspect, FXChoice outperforms RoboForex. But, overall, the number of financial instruments offered on both platforms is quite high.

Trading Fees

Trading fees on FXChoice are considerably higher. RoboForex is customer-friendlier in this aspect because it has low minimum deposit requirements & it offers instant fund withdrawal features.

Bonus Programs

Both RoboForex & FXChoice offer a decent number of bonus programs. These programs can be used by traders to generate passive income.

Copy Trading

Copy trading is easier on RoboForex because traders can create & launch their own Forex EA or Forex bots. FXChoice has started offering copy trading only recently. The brokerage firm recently partnered up with copy trading service provider ZuluTrade.

Type of Broker

FXChoice is catered more towards serious & experienced brokers who have large amounts of free funds. Demo accounts on the platform are deleted after 90 days. The firm’s support team only offers customer support in English. RoboForex is active 24/7. It offers multilingual customer support. Overall, RoboForex is catered toward both young & experienced traders.

Again, RoboForex outperforms this competitor in various aspects.

RoboForex Pros and Cons

After trading for several hours on RoboForex, here are the main advantages of the platform that we discovered:

PROS CONS
➼ Very beginner-friendly; the platform is full of educational resources
✖ Offers a very small number of currency pairs
➼ The platform offers favorable trading conditions thanks to its low minimum deposit requirements
No cryptocurrency tools are available when trading on RoboForex’s R Trader platform
➼ Offers users multiple trading platforms
The affiliate payments on the platform are some of the highest in the world
Users get to withdraw their funds almost instantly thanks to the firm’s 24/7 support feature
Features like negative balance protection are very helpful for people who are new to Forex trading

After a complete assessment of RoboForex’s Pros & Cons, our experts have deemed it to be an efficient multi-asset broker with a relatively low cost of trading. In terms of Forex and CFD trading, very few platforms offer as many advanced features as RoboForex.

More importantly, the broker has a strong customer support team which makes it very beginner-friendly. Overall, RoboForex is user-friendly, easy to use, & cheap. It also has a long track record of success in the market so it’s quite reliable.

How to Open a RoboForex Account – Step-by-Step Guide

Now that you know the ins & outs of operating different types of trading accounts on RoboForex, let’s learn how to open a personal account on the trading platform. Here’s a step-by-step guide:

Step 1: Sign Up

To start the registration process, click on the green-colored “open trading account” option on RoboForex’s official website:

Step 2: Complete the Form

Complete the registration form. Then, below the online form, find & click on the “Register” button.

Step 3: Deposit Funds

Now, you can make your first deposit & start trading. Click on the “Deposit” button to open up a menu featuring all the deposit options. The options will include bank payments, bank cards, electronic payments, cash, & vouchers.

Step 4: Download the Trading Platform

Download whichever software you’re comfortable with. Your options include MT4, MT5, cTrader & Currenex Viking Trader.

Step 5: Use Bonus Programs

You can apply for a variety of broker bonuses on RoboForex. Enter the appropriate codes to make the most of these offers.

Once your personal account is set up, you can take part in different investment programs on the platform. RoboForex offers a variety of investment programs.

Join a program & launch your retail investor account. RoboForex offers users the chance to withdraw their funds (no fees involved) any time they want.

To make withdrawals, just go to your trading account’s home page. There, enter the section titled “Funds.” From this section, you can deposit or withdraw funds at any time you want. Here’s what the withdraw funds section on a RoboForex personal account looks like:

Choose Asia Forex Mentor for Your Forex Trading Success

If you have a keen interest in establishing a successful career in forex trading and aspire to achieve substantial financial gains, Asia Forex Mentor stands as the optimal choice for the best forex, stock, and crypto trading course. Ezekiel Chew, renowned as the visionary behind trading institutions and banks, is the driving force behind Asia Forex Mentor. On a personal note, Ezekiel consistently achieves seven-figure trades, a distinction that truly sets him apart from other educators in the field. Here are the compelling reasons that underpin our recommendation:

Comprehensive Curriculum: Asia Forex Mentor offers an all-encompassing educational program that covers stock, crypto, and forex trading. This well-structured curriculum equips aspiring traders with the knowledge and skills necessary to excel in these diverse markets.

Proven Track Record: The credibility of Asia Forex Mentor is firmly established through its impressive track record of producing consistently profitable traders across various market sectors. This achievement serves as a testament to the effectiveness of their training methodologies and mentorship.

Expert Mentors: At Asia Forex Mentor, students benefit from the guidance and insights of experienced mentors who have demonstrated remarkable success in stock, crypto, and forex trading. These mentors provide personalized support, enabling students to navigate the intricacies of each market with confidence.

Supportive Community: Joining Asia Forex Mentor brings access to a supportive community of like-minded traders pursuing success in the stock, crypto, and forex markets. This community fosters collaboration, idea-sharing, and peer learning, enhancing the overall learning experience.

Emphasis on Discipline and Psychology: Success in trading necessitates a strong mindset and disciplined approach. Asia Forex Mentor provides crucial psychological training to help traders manage emotions, handle stress, and make rational decisions during trading.

Constant Updates and Resources: The financial markets are dynamic, and Asia Forex Mentor ensures that students remain up-to-date with the latest trends, strategies, and market insights. Continuous access to valuable resources keeps traders ahead of the curve.

Success Stories: Asia Forex Mentor takes pride in a multitude of success stories where students have transformed their trading careers and achieved financial independence through their comprehensive forex, stock, and crypto trading education.

In summary, Asia Forex Mentor emerges as the premier choice for those seeking the best forex, stock, and crypto trading course to carve a rewarding career and achieve financial prosperity. Through its comprehensive curriculum, experienced mentors, practical approach, and supportive community, Asia Forex Mentor provides the necessary tools and guidance to mold aspiring traders into accomplished professionals across diverse financial markets.

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#1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try!

Conclusion: RoboForex Review

Overall, RoboForex is one of the best international brokers in the world. There are good reasons why this company is ranked second in the list of top 10 brokers in the world. RoboForex has a customer rating of 4.8 & it’s famous among Forex traders for its favorable trading conditions & minimum commission fees.

Whether you’re new to Forex trading or an experienced trader, you’ll find RoboForex very easy & engaging to use. The company’s customer support team is extremely responsive & there’s a solid educational system on the platform. Our final verdict on this award-winning broker is overwhelmingly positive.

RoboForex Review FAQs

Is RoboForex a Safe broker choice?

Yes. RoboForex is regulated by the International Financial Services Commission. The company’s customer support team is also famous for responding to complaints regarding errors or negligence very quickly.

What is the minimum deposit to trade with RoboForex?

$10 is the minimum deposit requirement for trading on RoboForex.

Can I practice Forex trading with RoboForex?

Yes. You can open multiple demo accounts to try out different trading strategies on the platform.

Dumb Little Man Recommends - Top 3 Best Forex Brokers in 2023

Vanessa Richards

Vanessa is a mom of 3 lovely children and a software geek. Outside of her career as a health and wellness instructor. She enjoys writing and researching on topics such as finance, software, health and culinary.

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