RoboForex Broker Reviews Fees, Spreads and Withdrawal

My research into RoboForex revealed striking contrasts right from the start. The broker has operated since 2009 and gives traders access to over 12,000 trading instruments with a modest $10 minimum deposit. Their 2000:1 leverage option looks attractive but could be risky for newcomers to trading.

The RoboForex reviews showed some troubling patterns about withdrawals. The broker provides 24/7 customer support in 12 languages, yet 45% of Trustpilot reviews give them just one star. Users often question RoboForex's legitimacy after facing withdrawal problems. Some traders reported they couldn't access their funds unless they made extra deposits. The withdrawal fees vary between 0.5% and 4%, based on your payment method.

This review digs deep into account types and trading conditions. The EUR/USD spreads start at 0.00 pips on select accounts, which seems appealing. The broker holds a Trust Score of 73/100 and operates under the International Financial Services Commission in Belize - a regulatory body that's less strict than others. These factors need careful thought, especially since 58.42% of retail investor accounts lose money when trading CFDs on this platform.

What Is RoboForex and Who Is It For?

After sharing my first thoughts in the intro, I wanted to learn more about what makes this broker special. RoboForex, a 14-year old financial brokerage company, operates under the Financial Services Commission (FSC) of Belize with license No. 000138/32. Their offshore regulation might make you wonder about customer protection compared to brokers under tighter European rules.

Overview of RoboForex as a broker

RoboForex shines with its detailed protection measures. They offer Civil Liability insurance up to 2,500,000 EUR that covers risks like omissions, fraud, errors, and negligence. As an 'A' category member of The Financial Commission, their clients get protection through a Compensation Fund of up to €20,000 per case. These safety nets help answer the common question "is roboforex legit."

The broker gives you five trading platforms to choose from: MetaTrader 4, MetaTrader 5, R WebTrader, R MobileTrader, and R StocksTrader. Their easy-to-use interface works well for traders of all skill levels. The platform runs at speeds of about 45 milliseconds, which makes it perfect for day traders and scalpers who need quick order processing.

My research shows they give you a free Virtual Private Server (VPS) for low-latency trading. Professional traders will love this feature for their automated strategies.

Target audience: beginners vs professionals

RoboForex serves both new and seasoned traders with well-planned account types. New traders can start with a Pro account that has floating spreads from 1.3 pips and market execution. The ProCent account lets you trade tiny volumes—as small as 0.001 lots (0.1 cent lots). This works great for testing strategies or moving from demo to real trading.

You can start trading with just $10. The company suggests investing no more than 20% of your savings until you build stable trading skills. This careful approach shows they care about their clients' success more than many competitors.

Advanced traders prefer the ECN and Prime accounts because they offer:

• Floating spreads from 0 pips
• Market execution
• No Limit & Stop Levels
• Maximum execution speed
• Deep liquidity

You can use leverage up to 1:2000, but reviews often suggest new traders should stick to 1:100 or less. This range shows they understand different traders need different risk levels.

Key markets and instruments offered

RoboForex gives you access to 8 different asset classes. You can trade:

• Currencies: Over 40 forex pairs with clear, reliable access
• Stocks: More than 12,000 through R StocksTrader and 50+ via MetaTrader 5
• Indices: Track stock group prices for wider market exposure
• Futures: US futures with transparent exchange pricing
• ETFs: Trade global ETFs worth over $3 trillion
• Metals: Gold, silver, platinum, palladium, and more
• Energies: Natural gas, ethanol, and other resources
• Commodities: Over 100 instruments on R StocksTrader

R StocksTrader needs a $100 minimum deposit, which is higher than other accounts but gives you access to all 12,000+ instruments. This huge selection beats many stock trading competitors.

My withdrawal review shows they embrace global diversity. They offer stocks from major markets in the USA, UK, Germany, and Switzerland. This worldwide approach helps traders spread their risk across international markets instead of focusing only on US stocks.

American traders should note that roboforex usa access is limited since they focus mainly on markets outside North America.

Account Types and Minimum Deposit Requirements

My detailed comparison of RoboForex's account options shows they have five different account types. Each type meets specific trading needs, and their low entry requirements caught my attention.

Pro-Cent vs Pro-Standard vs ECN vs Prime

RoboForex's Pro account is what most beginners choose. It has balanced conditions that make trading currencies and other markets simple. The pricing is straightforward with floating spreads that start from 1.3 pips and no commissions. New traders find this easy to understand.

The ProCent account works just like the Pro account but uses cent denominations. This makes it perfect to test strategies and Expert Advisors without putting too much money at risk. You can trade volumes as small as 0.001 lots (0.1 cent lots), which helps you move from demo to real trading step by step.

Experienced traders often pick the ECN account for its direct market access and tight spreads. These accounts have floating spreads starting at 0 pips, with a commission of about $20 USD per million in trading volume. You get the fastest order execution and competitive conditions with maximum leverage of 1:500.

The Prime account is RoboForex's top-tier option with the best conditions. Spreads start from 0 pips, and the commission structure is better – around $10 USD per million for EUR/USD trading volume. The maximum leverage is lower at 1:300, which shows it's meant for professionals.

RoboForex also has an R StocksTrader account. This option uses their own platform and lets you trade over 12,000 instruments including indices, real stocks, and various CFDs.

Minimum deposit and leverage per account

RoboForex stands out with its low minimum deposits. You can start trading with just $10 USD on four of their five accounts. The R StocksTrader account needs $100 USD to begin.

You can fund your account in USD, EUR, or even GOLD across all account types. This flexibility helps traders from different parts of the world.

RoboForex offers some of the market's highest leverage rates, which vary by account:

• Pro and ProCent accounts: Maximum leverage of 1:2000
• ECN account: Maximum leverage of 1:500
• Prime account: Maximum leverage of 1:300
• R StocksTrader: Maximum leverage of 1:500

The 1:2000 leverage is available on all standard and cent accounts. However, traders should be careful with such high leverage because it increases risk by a lot.

Which account suits which trader?

My analysis shows each RoboForex account fits different types of traders:

The ProCent account works best for:

• Beginners who want to test trading with minimal risk
• Traders who want to develop and test automated strategies
• People who feel more comfortable managing cent values

The Pro account is great for:

• Traders who don't want to deal with commissions
• Those who prefer simple wider spreads
• Beginners ready to move beyond testing

The ECN account fits:

• Active day traders and scalpers who need tight spreads
• Experienced traders wanting direct market access
• Algorithmic traders who need quick execution

The Prime account is perfect for:

• Professional traders needing top-tier execution
• High-volume traders who save with lower commissions
• Traders who value execution quality more than maximum leverage

New traders should start with either the Pro or ProCent accounts. These accounts have clear floating spreads and simple pricing without complex commissions.

Stock trading enthusiasts should look at the R StocksTrader account. It offers the most instruments but needs $100 to start.

Trading Platforms: MT4, MT5, cTrader, and R-Trader

My hands-on exploration of RoboForex's technology showed they have an impressive range of trading platforms that suit trading styles of all types. Most brokers limit themselves to one or two options, but RoboForex gives traders four distinct platforms, each with unique capabilities.

MetaTrader 4 and 5: Features and tools

MetaTrader 4 stands as the life-blood of RoboForex's platform offerings and remains their clients' top choice. Testing revealed that MT4 has three order execution types and 50 pre-installed technical indicators for complete market analysis. The platform's user-friendly interface makes it available to newcomers, while offering sophisticated functionality for experienced traders.

MetaTrader 5 takes a big leap forward from its predecessor with four order execution types instead of three and six pending order types compared to MT4's simple options. It also brings several technical advantages over MT4:

• 64-bit multi-flow architecture (vs. MT4's 32-bit single-flow)
• Access to real trading volume data, not just tick volume
• Multi-currency strategy testing capabilities
• Market Depth functionality for advanced order book analysis

Both platforms come with mobile apps so traders can manage positions anywhere. MT4 shines in focused forex trading, while MT5 excels at multi-asset trading across centralized and decentralized markets.

cTrader: Advanced charting and execution

Traders looking beyond MetaTrader will find cTrader to be a compelling option. The platform impressed me with its Level II pricing capabilities and advanced order types. RoboForex's cTrader version has 54 technical indicators across 14 timeframes and 9 chart types, offering remarkable analytical depth.

cTrader stands out because of its ECN trading-specific architecture. My execution quality review showed that cTrader makes brokers connect liquidity providers directly without price feed modification. Traders get faster execution and better fills, which proves valuable for:

• Scalpers who need rapid execution
• Algorithmic traders using cTrader Automate to create custom robots
• Professionals who require genuine market depth visibility

R-Trader: Multi-asset trading and automation

RoboForex's own platform, R-Trader, serves modern multi-asset traders. The web-based terminal got an update in 2019 and now offers trading across over 12,000 instruments including stocks from American, British, German, and Swiss companies.

The platform's free Strategy Builder is a standout feature that lets traders create custom automated trading systems without coding knowledge. Data-focused traders can export backtest results in CSV format for valuable analysis.

R-Trader delivers exceptional speed beyond its core functionality. Known for having "the fastest charts in the industry", it calculates Take Profit and Stop Loss values in pips while showing risk as a percentage of account balance. The platform works entirely in a browser, so there's no need for installation.

The platform, now called R StocksTrader, won the "Best Global Mobile Trading App 2020" award from Global Forex Awards B2B. My roboforex review testing showed that R StocksTrader works best for traders who want global stock opportunities alongside traditional forex instruments.

Looking at "is roboforex legit" questions, their significant investment in developing and maintaining multiple advanced platforms builds their credibility. Their technology stack shows their steadfast dedication to giving traders professional-grade tools instead of basic offerings.

Trading Conditions: Spreads, Leverage, and Commissions

My analysis of RoboForex's competitive edge shows their trading conditions come with both benefits and drawbacks. The actual trading data from different account types reveals key differences you should think over before investing your money.

Typical spreads on major pairs

RoboForex's account types show big variations in spread structure. Their Pro and ProCent accounts have floating spreads that average 1.3 pips for the popular EUR/USD pair, which means about $13 per standard lot. My tests show this is slightly higher than the industry average of 1.08 pips for this pair.

Pro accounts show these average spreads for major currency pairs:

• EUR/USD: 1.3 pips
• GBP/USD: 2.0 pips
• USD/JPY: 2.0 pips

ECN and Prime accounts provide much tighter spreads that start from 0 pips. The actual average spread on ECN accounts for EUR/USD usually stays around 0.3 pips, which beats most competitors. Prime accounts have an average of 0.2 pips for EUR/USD, making them ideal for high-frequency trading strategies.

The R StocksTrader account shows strong performance with stock CFDs. Apple and Tesla trade at just 0.11 and 0.10 points, which is much better than industry averages of 0.33 and 0.50 points.

Commission structure by account type

RoboForex's account offerings split clearly based on their commission model. Pro and ProCent accounts have no commissions, but include trading costs in wider spreads. These accounts work best for swing traders and position traders who trade less often.

Raw spread seekers can choose from these commission models:

• Prime accounts: $10 USD per million traded on EUR/USD
• ECN accounts: $20 USD per million traded on most currency pairs

ECN accounts charge $20 per million across all currency pairs. Prime accounts cost $10 per million, making them better for high-volume traders.

The R StocksTrader platform takes a different approach. It charges from $0.02 for US stocks or adds a small 0.3% markup on the instrument's value instead of separate commission fees.

New traders will appreciate that RoboForex doesn't charge for deposits and gives three free withdrawals each month. Many other brokers charge for these services.

Leverage options and risk implications

RoboForex stands out with high leverage options up to 1:2000 on Pro and ProCent accounts. ECN accounts offer up to 1:500 leverage, while Prime accounts max out at 1:300. The R StocksTrader platform keeps leverage at 1:20 due to stock market volatility.

These high leverage options come with notable risks. My review found several restrictions that help reduce these risks:

1. Accounts with equity over $10,000 get automatic leverage reduction to 1:1000
2. Weekend leverage drops to 1:1000 from 11:00 PM Friday to 1:00 AM Saturday (EET)
3. Most accounts have margin call triggers at 100%
4. Stop-out levels vary: Pro at 40%, Prime at 100%, ECN at 50%, ProCent at 30%, and R StocksTrader at 20%

RoboForex also provides negative balance protection. This means they'll reset your balance to zero upon request if market volatility causes it to go negative. This vital feature protects you from owing more than your deposit.

High leverage affects both profits and losses equally. A 10-pip move with 1:100 leverage could mean a $100 gain or loss, compared to just $1 without leverage on the same position. New traders should be extra careful with RoboForex's maximum leverage options.

Deposit and Withdrawal Process: Fees and Delays

My analysis of RoboForex's financial transactions shows key points traders should think about before using this platform. The way a broker handles your money matters just as much as trading conditions. My research found that there was a mix of appealing features and potential drawbacks.

Accepted payment methods

RoboForex gives traders many ways to deposit funds. I found more than 20 different payment methods, making them one of the most flexible brokers around. The main deposit methods include:

• Bank wire transfers: With limits up to $15,000 without fees
• Credit/debit cards: Including VISA, MasterCard, JCB, and China UnionPay
• E-wallets: Such as Skrill (up to $25,000), Neteller (up to $50,000), Perfect Money, and Sticpay
• Alternative methods: AstroPay (up to $10,000), Western Union, QR & Vouchers

RoboForex has a strict rule - you can't fund trading accounts using payment methods that don't belong to the account owner. This security measure might be inconvenient for traders who want to use their family members' accounts.

Withdrawal fees and processing times

RoboForex's withdrawal fees change based on your chosen method. Here's what you can expect:

Bank wire withdrawals cost up to 4% of the amount, making them the priciest option. Card withdrawals run up to 2.6% plus $1.30. E-wallet fees range from 0.5% (AstroPay, Perfect Money) to 1.9% (Neteller).

The broker offers a great perk - their "Withdrawal Without Commission" program lets you make three free withdrawals monthly on the second, third, and fourth Tuesday of each month. Regular traders can save money by planning their withdrawals on these days.

Processing times vary by method:

• E-wallets: Usually within 24 hours
• Bank cards: Up to 10 days
• Bank transfers: 1-3 days typically

The timeframes only apply on working days, excluding holidays and weekends. Staff processes applications from 9:00 AM to 6:00 PM (EET). Smart timing of withdrawal requests helps avoid delays.

User-reported issues with fund access

My research into RoboForex withdrawals revealed some worrying patterns in user feedback. Several traders had major problems getting their money out.

One trader couldn't withdraw $43,000 even after sending verification documents. They got no response for over two weeks. Another client's account was frozen and refund canceled without clear explanation.

The situation gets worse. A user called Fio Flier said RoboForex banned their account for rule violations. They only got 30% of their funds back while the broker kept 70%. Another trader lost $865 during withdrawal. RoboForex gave them an Acquirer Reference Number but left them to handle everything else.

Not everyone had bad experiences though. Some users liked the crypto withdrawal support. One mentioned card withdrawals took about 12 hours, while Binance Pay withdrawals finished in 1-2 hours.

These mixed reports suggest you should test the system with smaller amounts first. The contrast between their free withdrawal program and these concerning user experiences raises real questions about how reliable fund access really is.

CopyFX and Affiliate Programs Explained

RoboForex's ecosystem goes beyond direct trading and gives traders a shot at alternative income streams that caught my eye during my review. The broker lets you earn passively in two ways: through CopyFX copy trading and their affiliate programs.

How CopyFX works for investors and traders

CopyFX is a copy-trading system where users can automatically mirror other people's trading strategies. The system works with two main players: investors who follow successful traders, and traders who share their winning moves to earn commissions.

Starting as an investor is pretty straightforward - you just need $10 to begin. The platform gives you plenty of options with three ways to copy:

• Proportional Mode: Trades copy based on the deposit ratio between you and the trader
• Classic Mode: Trades mirror with volume calculated from the original trade
• Fixed Mode: All trades copy at your chosen fixed volume

Traders can make money from their expertise through three different commission plans. The Performance Fee lets you earn 5-50% of your subscribers' profits. You could also pick the Volume Fee, which pays 1-10 USD per lot on profitable trades. MT5 traders get an extra option - the Subscription Fee, where they can charge 5-100 USD for each investment period.

CopyFX runs on several platforms, with MetaTrader 4 being the top choice. The program expanded to MetaTrader 5 recently, which gives traders more flexibility.

Affiliate program structure and payouts

The affiliate program, which used to be the VIP Partner Program but is now called the Infinity Program, comes with some impressive commission rates. Partners can earn up to 85% of the average spread from their clients' closed positions and 20% from daily swaps on open positions.

This is a big deal as it means the rates have jumped up to 5.4 times higher than before. To name just one example, EURUSD now pays $8.80 per lot, and GBPUSD offers $9.30 per lot.

The program supports multi-level marketing by giving you 10% commission on what your sub-affiliates earn. They've set up a smart system that combines spread commissions with swap earnings.

The Loyalty Program sweetens the deal by adding 10-20% to your monthly commission based on how much profit you make. You get an extra 10% for profits between $100-500, and this can go up to 20% if you make over $30,000.

Is it worth joining as a passive income stream?

Both programs show real promise for passive income. CopyFX works well for everyone involved - investors can tap into proven strategies without trading know-how, while good traders make money from their expertise.

Traders looking at CopyFX will find clear ways to monetize their skills. The performance-based system rewards successful traders directly, which lines up trader success with their earnings. Investors pay the platform directly, so traders don't need to chase payments.

The affiliate program's earning potential looks impressive. Your maximum earnings depend on how well you do, without any limits on transactions. What you actually earn comes down to how active your referred clients are and which instruments they trade.

These two programs create multiple ways to earn within RoboForex's ecosystem. Your earnings will depend on your effort, how well you keep clients, and market conditions - things you should think over before picking either option as your income source.

Customer Support and Educational Resources

A trader's experience with a broker depends more on customer support quality than attractive promotional offers. RoboForex's support infrastructure shows both strengths and areas that need improvement.

Support channels and response times

RoboForex delivers 24/7 customer assistance in 16 languages. This ensures traders get help whatever their location. My tests revealed several impressive communication options:

• Live chat (most popular for immediate responses)
• Email support (support@roboforex.com)
• Phone support (international numbers vary by region)
• Support tickets through Members Area
• Social media channels (Facebook, Twitter)

Different channels have varying response times. Live chat queries get immediate attention during business hours. Email and ticket system responses usually take up to 24 hours. Multiple language support makes the service accessible to non-English speaking traders effectively.

Quality of educational content

The educational offerings at RoboForex present mixed results. Their video-based strategy makes sense since "information in the form of video is acquired and remembered much better". Their analytics center contains video lessons about simple trading, technical analysis, and risk management.

Visual learning materials take priority over text at the broker. In stark comparison to this, my research revealed less original educational content than industry leaders [138, 139]. Their blog, which should complement core materials, lacks regular updates.

Availability of webinars and tutorials

Webinars stand out as RoboForex's best educational resource. These free online courses use the MyOwnConference platform that "more than 10 million people a year" rely on. Expert hosts share their screens and answer questions in 50-60 minute sessions.

Recordings appear on YouTube and the "Past events" page within 2-3 days after the broadcast. Anyone can access these sessions after registration, including non-clients. Strategy Builder tutorials teach traders to develop trading robots "without programming skills". These resources add practical value despite certain limitations.

Is RoboForex Safe and Legit? Regulation and Trust

Safety concerns are at the top of the list for evaluating forex brokers. I took a good look at RoboForex's regulatory framework and security measures. The results show some interesting points about how trustworthy this broker really is.

IFSC Belize license and what it means

RoboForex runs under the Financial Services Commission (FSC) of Belize with license number 000138/32. We checked that this regulatory oversight makes the company follow financial standards and operational ethics. The IFSC is rated as a Tier-3 regulator by many experts. This means it provides nowhere near the oversight you get from top-tier authorities like the UK's FCA or Australia's ASIC.

The original Belizean regulation makes brokers keep a minimum capital of $500,000 and submit monthly reports. RoboForex's position gets stronger through its membership in The Financial Commission, an independent self-regulatory organization that helps resolve disputes.

Negative balance protection and fund segregation

RoboForex puts several protective measures in place to keep things secure. Their negative balance protection will reset accounts to zero if market swings push balances into the negative. You won't owe more than your original deposit.

On top of that, it keeps client funds in segregated accounts away from operational capital. This is a vital protection if the company runs into money troubles. RoboForex also has a Civil Liability insurance program that covers up to €2,500,000 against fraud, errors, and negligence.

User trust score and scam allegations

RoboForex's reputation paints a mixed picture. The broker gets 2.8 stars from 1,083 reviews in platforms of all sizes. The Financial Commission's Compensation Fund lists them as a Category A member, protecting clients up to €20,000 per case.

Some users have reported problems that are systemic. These include claims about spread manipulation and issues with withdrawals. In spite of that, ScamAdviser's automated tools rated the site as "likely not a scam but legit and reliable".

Conclusion

Final Verdict: Is RoboForex Right for You?

My deep dive into RoboForex reveals a broker with stark contrasts. Their 2000:1 leverage and over 12,000 trading instruments make them stand out from the crowd. They also give traders amazing flexibility with multiple platforms - MT4, MT5, cTrader, and their own R-Trader platform.

My research uncovered some concerning issues. Users have reported serious problems with withdrawals that raise questions about accessing funds. The broker's Belize regulation through IFSC provides nowhere near the protection you'd get with European or Australian regulated brokers.

Their account options show smart design choices. You can start with a ProCent account for just $10 or go for a professional Prime account with minimal spreads. The free VPS service and negative balance protection are great perks, but you need to weigh these against the risks of their high leverage options.

CopyFX gives you a real shot at passive income. You can either copy successful traders' strategies as an investor or earn by sharing your expertise as a trader. The new affiliate program pays commissions that beat most competitors.

New traders should be careful with RoboForex. Start with small deposits until you trust their withdrawal system. Expert traders might like their competitive ECN and Prime accounts if they can handle the risks mentioned in this review.

RoboForex ended up being a mixed bag. The technical features and trading conditions are impressive, but you should think hard about the regulatory concerns and withdrawal issues before putting in big money.

FAQs

Q1. What are the main account types offered by RoboForex? RoboForex offers several account types including Pro, ProCent, ECN, Prime, and R StocksTrader. Each caters to different trading styles and experience levels, with varying spreads, commissions, and leverage options.

Q2. How safe is it to trade with RoboForex? RoboForex is regulated by the Financial Services Commission of Belize and offers negative balance protection and segregated client funds. However, some users have reported withdrawal issues, so caution is advised, especially for new traders.

Q3. What trading platforms does RoboForex provide? RoboForex offers multiple trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and their proprietary R-Trader platform. This variety caters to different trader preferences and styles.

Q4. What is the minimum deposit required to start trading with RoboForex? Most RoboForex account types require a minimum deposit of just $10, making it accessible for beginners. The exception is the R StocksTrader account, which has a $100 minimum deposit requirement.

Q5. Does RoboForex offer any passive income opportunities? Yes, RoboForex provides passive income opportunities through their CopyFX system for copy trading and an affiliate program called the Infinity Program. These allow users to earn from successful trading strategies or by referring new clients.