Ever heard of Roboforex? Maybe you’ve heard of RoboMarkets? Are they the same? Scam? Well, read on to know valuable info about roboforex, roboforex spread, robomarkets and other information that is vital for your trading adventures and broker choice.
Roboforex is a group established in 2009, with an offshore location for non-EU clients at 2118 Guava Street, Belama Phase 1, Belize City, Belize. Robomarkets exclusively serves the European Union, with a base at Promachon Eleftherias, 19, Limassol 4103, Cyprus.
They offer the MetaTrader 4, MetaTrader5, cTrader, R Trader platforms and boasts over 800,000 clients from around the world. Roboforex allows you to trade with any mobile device of your choice whether android or IOs while also having applications for mobile, to help you keep track of your transactions.
The best Roboforex feature that seems too interesting to not be on this review is their compliance testing. Before opening an account with them it is required that you scale through basic compliance tests. This is because they are regulated by IFSC and CySEC. Well, if you didn’t know a few things before starting a trade, the compliance test surely opens your eyes to them. The risks and a realized eligibility to trade. This doesn’t mean you will be locked out from exploring the platform, but to initiate a trade, you have to pass the compliance test.
Business Model of Roboforex
Run by the RoboForex Brand, they have expanded in various trading opportunities which includes; Forex, Stocks, Indices, ETFs, Commodities, Energies, Metals and Cryptocurrencies. Being a Non-Dealing Desk Broker roboforex offers cutting edge platforms and services which includes the ECN and STP trading accounts. This means that there is a different incorporated model to your account making robo forex spreads tight from 0 pips with a minimum executable trade of 0.1 lot and also allowing a maximum trade of 100 lot.
Robo Account types
Robo forex allows scalping and hedging as well as offers STP with a low min deposit for the trading newbie. Just like any other trading platforms out there, they offer a Demo account that allows you to acclimatize with the look and feel of their platforms. But there are other accounts with their own features that allows you to make a selection based on preference and experience. They are;
The pro-cent account is for both beginners and professionals. It has an interface adapted to letting clients test their marketing strategy beginning from an initial deposit as low as 10USD/10EUR/100CNY and runs market exaction type with spreads as low as 1.3 pips. With this account, you are free to partake in all the promotions which we will talk about in this Robo Forex review.
Also known as “next generation” runs on a multi-asset web platform and combines modern technologies that grant you access to the world’s major financial markets. The User Interface of this account incorporates a classic design. The Initial deposit for the R-trader account starts from 100USD and also runs a market execution type. The spreads are even tighter and floats from 0.1 pips. But the R-trader does not support any bonuses.
Pro-standard account shares the same features with the Pro Cent account, the only difference is that it supports all bonuses and not promotions.
If you are a professional trader, then this is for you. The ECN offers an environment of best robo forex trading conditions all with an initial deposit of 10USD/10EUR/100CNY. The spread floats from 0 pips and although that is a tight spread comes with reduced promotions.
Talking about an account for trading gurus. Advanced traders should leverage on this account for its most attractive features especially of ECN. The initial deposit starts from 5.000 USD and spread floats from 0 pips.
These accounts are available for all trading platforms and also support the following funding methods.
- China UnionPay
- Credit Card
- Wire Transfer
Security of Client’s Funds
This Robo Forex review is not complete if we do not talk about the security feature of the platform. RoboMarkets is regulated in Europe by the Cyprus Securities and Exchange Commission (CySEC). They are licensed everywhere else (with some exceptions of course) by the Belize International Financial Services Commission (IFSC) that helps you secure funds with the help of negative balance feature protection. Robo Forex are also in active participation with The Financial Commission Compensation Fund and certified for execution quality by Verify My Trade.
RoboMarkets Ltd is regulated by the CySEC, license No. is 191/13 RoboForex Ltd is regulated by the IFSC, license No. IFSC/60/271/TS.
Bonuses and Promotions
If you have are learned about the financial market, you would have known the joy that comes from promotions and bonuses! More like an extra topping for your cake. Robo Forex grants you access to a profit share bonus of up to 50% that can be used during “drawndown”. A classic bonus up to 115%, you can as well trade with the bonus funds and withdraw its profit.
RoboMarkets covers all expenses: when clients deposit their trading accounts, the commission is always 0%.
Cashback rebates are also available on Robo Forex up to 15% and is available for all the verified clients. This cashback can also be withdrawn. These are the most popular promotions and bonuses which you can enjoy as a client of Robo Forex alongside withdrawal without restrictions and payment of trading volume starting from 1 lot.
The quality of Robo Forex client support has earned them a double AA support rating because they offer support services for over 3 languages both for e-mail and for phone. The wide range of the languages provided on Robo Forex Support includes English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian. So if you want to cry 😭 about the difficulty in your trading adventure … You are free to do that in your mother-tongue 😜.
Robo forex is award winners and recognized by notable financial market industries. Some of their awards include;
Best Stock Broker Asia – 2019 International Business Magazine Awards
Best Investment Products, Global – 2019 Global Brands Awards
Best Global Forex Affiliate Program – 2019 Global Forex Awards
Best Crypto Broker 2018 – Manchester Investor Show
Safest Broker 2018 – London Investor Show
Best Investment Products 2017 – London Forex Show
Remember, the trading market comes with risks, especially volatile markets such as forex. You should make sure that you do not risk more than you can afford to lose.