RoboForex - Forex and CFD Broker


RoboForex-Broker Review

RoboForex is a NDD/ECN Forex broker from New Zealand and Cyprus which offers the possibility to trade with currency pairs (Forex market), commodities like gold and silver and Contracts For Difference through various trading platforms. This company provides a variety of services to its clients, including solutions of social trading, trading competitions, regular promotions for new and existing clients, various tyes of trading accounts, managed accounts, various trading platforms and many more.

Currently RoboForex is one of the most versatile and varied brokers in its services, as it not only offers trading accounts for the Forex market, but also a platform for trading and investing in shares of the American stock market. This, along with the quality of its ECN execution, the possibility of opening an account and trading with low amounts and other characteristics, make RoboForex an option that we must consider.

Type of broker

RoboForex is a NDD/STP/ECN Forex broker.

Regulation

RoboForex (CY) Ltd is a company regulated by Cyprus Securities and Exchange Commission (CySEC), licence No. is 191/13. This means that this broker complies with the regulations stipulated by the MiFID in Europe.
RoboForex LP has been registered in New Zealand as a Financial Services Provider (“FSP“), under registration number FSP246525.
-Also, RoboTrade Ltd is regulated by the International Financial Services Commission Belize (IFSC) with the license IFSC/60/271/TS/14.

Country of origin

This company and its subsidiaries have their main offices in Cyprus, New Zealand and Belice.

Trading Instruments

RoboForex offers the following market instruments to trade:
  • Forex market: 36 currency pairs in the Forex spot market, from the most important and traded like the EUR/USD, GBP/USD and USD/JPY to other more exotic like the USD/CZK or USD/MXN. Trading conditions for Forex depends on the trading account choseen by the trader.
  • Precious metalsGold and Silver (againts the USD and EUR) in the spot market and platinum and palladium againt the USD.
  • Contracts For Difference* based on:
    • Energy commodities: Crude oil (WTI and Brent) in the spot market.
    • Stock Indices: The main stock indices (cash indices) of the market such as US30Cash  (Dow Jones), US500Cash (S&P 500), USTECHCash (Nasdaq)UK100Cash (FTSE 100) and DE30Cash (DAX 30).
  • Stocks of US Market: More than 8400 shares and ETF of the United States stock market, such as Google, Apple, Amazon, Facebook, Boieng, Twitter and many other.
*The trading conditions for CFD depend on the underlying instrument of the contract and the market conditions.

Trading Accounts​

This broker offers 6 different types of trading accounts for traders with different profiles. Each of these accounts has its own features which are detailed below:
 AccountsFix-CentFix-EstandarPro-CentPro-EstándarECN-Pro NDDECN-Fix NDD
Trading platform
Metatrader 4
WebTrader
iPhone Trader
Android Trader

Metatrader 4

WebTrader
iPhone Trader
Android Trader
Metatrader 4
Metatrader 5

WebTrader
iPhone Trader
Android Trader
Metatrader 4
Metatrader 5

WebTrader

cTrader

cTrader Web
iPhone Trader
Android Trader
Metatrader 4
Metatrader 5

WebTrader

cTrader

cTrader Web
iPhone Trader
Android Trader
Metatrader 4
WebTrader
iPhone Trader
Android Trader

Trading instruments
-33 currency pairs
-Precious metals
-33 currency pairs
-Precious metals
-36 currency pairs
-Precious metals
-36 currency pairs
-Precious metals
-CFD
-36 currency pairs
-Precious metals
-CFD
-13 currency pairs
-Precious metals
Minimum depositNoNoNoNoNoNo
Minimum transaction size
(lots)
0.00010.010.00010.010.010.01
Commisions for tradingNoNoNoNo20 USD for 1 million USDNo
SpreadsFixed from 2 pipsFixed from 2 pipsFloating from 1.3 pipsFloating from 1.3 pipsFloating from 0.0 pipsFixed from 1.6 pips
Maximum leverage1:10001:10001:10001:10001:3001:300
Mode of executionInstant ExecutionInstant ExecutionMarket executionMarket executionMarket executionInstant execution
Deposit bonusesUp to 50%Up to 50%Up to 50%Up to 50%NoNo
“Rebates” serviceup to 1.5% of spreadup to 1.5% of spreadup to 1.5% of spreadup to 1.5% of spreadup to 1.5% of spread
up to 1.5% of spread
-The account currency for all account types are: USD, EUR, CNY and Gold.

-While a minimum deposit is not required to open an account with RoboForex due to trading conditions offered by each account is recommended that the trader deposit at least $10 in Fix-Cent and Pro-Cent accounts and at least $50 to the Fix-Standard, Pro-Standard, ECN-Pro NDD and ECN-Fix NDD accounts.
-The trading execution mode “Market Execution” means that customer transactions are executed according to current market conditions.
-The Trading accounts ECN-Pro NDD and ECN-Fix NDD offer the customer a pure ECN execution (no dealing desk and greater market depth than others). They are characterized by a rapid and efficient trade execution. The difference between the two accounts is that the ECN-Pro offers variable and low spreads from 0 pips onwards while the ECN-Fix offers fixed spreads from 2 pips onwards at all times.
Also, RoboForex offers its clients the possibility to open a practice demo account without time limit and $5,000 of virtual money, which can be used to practice their trading strategies and evaluate the services offered by this company. This practice account can be opened with all trading platforms of RoboForex.

Demo Accounts

Yes, with no limit of time.

Trading Platforms

Roboforex offers the following trading platforms for its five types of trading accounts:
  • Metatrader 4: It is one of the most famous trading platform in the sector which has many tools and applications. It is a downloadable application that allows to trade with currency pairs, commodities, futures and contracts for differences. It has multiple market analysis tools such as advanced price charts (with 9 frames frames), more than 50 technical analysis indicators incorporated, and other. It also offers the possibility to create custom indicators through a programming language called Metaquotes (MQL4) designed for this platform. Its interface is user friendly and offers 3 different types of order execution. The traders have the option of using a wide variety of orders (market order, deferred order, stop-order, etc), so that is possible to implement any type of trading strategy. Metatrader 4 allows to create, evaluate and implement automated trading systems known as Expert Advisors, which can trade in the market independently according to the trading strategies programmed in their code. 
  • Metratader 5: This is the new version of the MetaTrader 4 platform and besides all the features and advantages mentioned above, this applications includes new enhancements such as the possibility of trading currency pairs in the Forex market, stocks (stock market), commodities, futures, CFDs and options, which allows the trader to diversify their operations through a single application. Metatrader 5 also has more built-in technical indicators, more time frames for its charts (21 time frames), the possibility of opening up to 100 different graphics at the same time, four types of execution, the latest development of language Metaquotes (MQL5) and more. 
  • cTrader: This is a downloadable application designed for professional traders interested in a different platform than Metatrader 4 which is specialized in ECN Forex trading. It is a platform based on the STP (Straight Through Processing) technology that provides a direct connection with market liquidity providers. It is characterized by an intuitive and user friendly interface. The main features of cTrader include one-click trading, the possibility of using Expert Advisors, 4 different types of entry orders, an interface with flexible and customizable options, a wide variety of tools for market analysis, market depth and a Multi Account module for the control of all assets in which the investor is trading. 
  • cTrader Web: A web-based application that provides market access from anywhere with an Internet connection. This platform offers a customizable and user friendly interface, various types of orders, position management tools, account management tools, updated prices, updated market news, advanced charting and technical indicators. It is a system based on cTrader design, thus it offers many of the features and benefits of this advanced platform.
  • Webtrader of RoboForex: It is a web based application which allows to trade from any place with Internet connection. This application offers an user-friendly and customizable interface, various types of orders, position management tools, updated quotes via the advanced market watch, updated market news, advanced charts with technical indicators and more. This trading platform is compatible with RoboForex Metatrader accounts.
  • Umstel: This is a modern web trading platform designed for trading US Stocks which offer direct access to the real stock market from 100 USD. This application has a complete an user friendly interface with acess to many industries for trading, investing and trading strategies, ideas from the trading community and information on stock`s corporate events like cash dividends, splits, mergers, and more. The platform also offers updated market quotes, modern price charts, built-in technical analysis tools and updated market news.
  • Platforms for mobile devices: RoboForex offers its customers various applications created to access the trading account and trade in the market through various mobile devices such as smart phones of different brands, tablets and the like. These platforms include a variety of functions such as updated prices, various types of orders, price charts and others. They are based on the Metatrader 4, Metatrader 5 and cTrader platforms (hence they are compatible with these trading systems).
    • cTrader Mobile (for Android and iOS).
    • iPhone/iPAD Trader (for MT4 and MT5).
    • Android Trader (for MT4 and MT5).
*In case the trader opens a Pro-Cent, Pro Standard or Pro-ECN account, the Metatrader platforms include a function that displays Level 2 quotes (with greater market depth). In this way the trader can observe and analyze a large number of buy and sales orders in the market. This allows to take better decisions about buying or selling a financial instrument, as the trader has a deeper insight about the development of market forces at any given time. Currently, RoboForex offers Level 2 quotes for major Forex currency pairs.

Social Trading Platform CopyFX

RoboForex has developed a copy trading platform (a form of social trading) called CopyFX which allows to follow and copy in real time transactions in the markets made by other traders operating with this broker, including successful traders with experience in the financial markets like Forex. CopyFX is fully integrated into the client platform and account, so that the whole process of selecting and copying the trading signals can be made directly from user platform with a few clicks. This service of RoboForex offers the opportunity to invest in the market to traders without the experience and knowledge necessary to trade on their own, but who have interest in the enormous potential of the Forex market to generate profits. With CopyFX, no financial expertise required.
CopyFX has a simple and user friendly interface, which can be even used by traders with little experience. In the user panel it shows a classification with top traders signal providers, and an updated  list in real time of the last positions opened by these traders. For each signal provider, CopyFX includes a long list of performance indicators in the market (such as number of trades performed, total return, average profit per trade, etc), so that the investor can select the best signal providers according to their results and their own needs.
More information on CopyFX in the following link:

Payment Options

The client can add/withdrawl funds through Bank Wire Transfer, Credit Cards (the most important), Debit Cards, Skrill, Neteller, CashU, Payoneer, Perfect Money, Webmoney and Bitcoin.

Main Advantages and additional services of RoboForex

  • RoboForex is a fully regulated broker (CySEC and IFSC).
  • This broker offers Level 2 quotes.
  • It offers both, fixed and floating spreads.
  • RoboForex offers regular bonuses for new clients that open a trading account.
  • It allows the use of automated trading systems through the trading platforms Metatrader 4 and Metatrader 5 and it offers free VPS Forex Hosting for clients that use Expert Advisors and scripts.
  • RoboForex is part of the ECN Network Integral FXGrid  which serves as an interbank system. Using FxGrid technology, it forms a pool of liquidity suppliers creating interinstitutional trading networ. Some of the participants are Citibank, Deutsche Bank, Bank of America, UBS and HSBC.
  • This broker offers ECN execution (instant and realiable order execution) through Integral FXGrid.
  • It offers several options of trading accounts and instruments for its clients.
  • RoboForex offers free Forex education through its website for beginners traders. 
  • Among its options of free education, RoboForex has a section on its website with video tutorials dedicated to the following trading topics: Forex trading for beginners, Metatrader trading platform, trading strategies for beginners and experienced traders and market analysis tools and concepts including technical analysis, trading phycology, money management and other . These videos are only available to customers of the broker.
  • Several market analysis tools for traders like an economic calendar, Forex charts, economic indicators, interest rates worldwide and regular market analysis&forecast through its website.
  • A free service of technical analysis and market alerts (for Forex and gold) provided by Trading Central to all clients.
  • This broker has a platform for trading contests called ContestFX, which offers many trading competitions for real and demo accounts with cash prizes for the winners. These competitions have different characteristics in terms of duration, trading instruments, general conditions, competitors, prizes and others.
  • RoboForex offers the possibility to get additional benefits promoting their services as a broker through a 5 levels affiliate program of their property which is open to all customers of the company.

Main Offers of RoboForex

  • RoboForex offers a welcome bonus for new clients that open a real trading account and deposit funds . The amount of the bonus depends on the capital deposited by the client and can be up to 50%.
  • A “rebates” service which allows to earn up to 3 USD for each traded lot.
  • A welcome bonus of 30 USD for new clients. The only requirement is a deposit of 10 USD.
  • A VPS service for clients who passed the verification process and have an equity on their trading accounts exceeding 300 USD or its equivalent in another currency.
  • This broker offers a regular trading contest for demo accounts with cash prizes. 

Other Categories of this broker

  • CFD Broker.
  • Gold Broker.
  • Silver Broker.
  • Metatrader 4 Broker.
  • Stock Broker.
CompanyRoboForex LP
Operating since2009.
Minimum account size$10 USD.
Minimum lot size0.0001 lot (cent accounts) and 0.01 lotes (regular and ECN accounts).
Maximun Leverage*Up to 1:1000.
Spreads
Depending on the trading account, RoboForex offers the following spreads:
  • Fix-Cent and Fix-Standard accounts: Fixed spreads from 2 pips for the major currency pairs like EUR/USD.
  • Pro-Cent and Pro-Standard accounts: Floating spreads from 1.3 pips for the major currency pairs like EUR/USD.
  • Pro-ECN accounts: Floating spreads from 0.0 pips for the major currency pairs like EUR/USD.
Link to the websiteRoboForex Website
Open an accountForex ECN Broker RoboForex




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