RoboForex Review in Jan. 2024

Published on 10/01/2024
Fact checked 10/01/2024

TrustedBrokers Score

4.1 / 5
58.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets
    5.0 / 5
  • Trading environment
    4.5 / 5
  • Deposits and withdrawals
    3.9 / 5
  • Investor protection
    3.2 / 5
  • Customer service
    3.8 / 5
Our take on RoboForex

RoboForex.com is an offshore broker based in and regulated in Belize. Access over 12,000 instruments, including real equities and CFDs on Forex, crypto and oil, from a single platform. We were able to start trading in minutes, without ID verification.

RoboForex is an offshore broker you should consider, if you're looking for high leverage (up to 1:2000) across a wide range of asset classes.

We were able to open an account and start trading in under 5 minutes, as RoboForex postpones account verification until you raise a withdrawal request. It's free to fund your account, but pay attention to withdrawal fees across most withdrawal methods.

RoboForex accepts all trading styles and EAs on the MetaTrader 4 and 5 platforms. Its trading fees are on par with its competition, and swap fees generally lower. You may also qualify for a complimentary VPS if you trade at least 3 lots per month.

We particularly like its R StocksTrader platform, which allows you to invest in over 12,000 "real" stocks, in addition to CFDs across all other asset classes. If you're a buy-and-hold investor with an interest in stocks, this platform is one you should consider.

  • Likes
  • Access 12,000 instruments, including real stocks.
  • Start trading in minutes without ID verification.
  • Enjoy negative balance protection.
  • Dislikes
  • RoboForex is only regulated in Belize.
  • Withdrawal fees across most funding methods.

Easily navigate this review:

5.0 / 5
Markets

Trade over 12,000 instruments through RoboForex.com. You'll be hard pressed to find an asset class it doesn't support, with the exception perhaps of government bonds.

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4.5 / 5
Trading environment

RoboForex offers a wide range of accounts for beginners and experienced traders. Trade on floating spreads, and in some cases raw spreads, with high leverage across platforms.

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3.9 / 5
Deposits and withdrawals

Easily fund your RoboForex account, with no deposit fees, and no withdrawal fees on certain days of the month. In addition, RoboForex is the only broker in our panel with gold and crypto-denominated accounts.

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3.2 / 5
Investor protection

Enjoy peace of mind through negative balance protection. In addition, RoboForex will hold your funds in segregated accounts. However, no investor compensation fund is available in Belize.

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3.8 / 5
Customer service

Customer service is available by live chat, email and phone (to a number in Ecuador). In our experience, RoboForex has always provided fast and helpful answers.

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Author

About the author

I'm Stefan, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.