RoboForex Review 2023 & Cashback

RoboForex Overall rating

	Rating	Weight
Real customer rating	4.6 (102 reviews)	3
Popularity	4.7	3
Regulation	5.0	2
Pricing rating	5.0	1
Features	Not rated	1
Customer Support	Not rated	1

We start our RoboForex review by highlighting the key features of this popular CFD broker. The RoboForex broker represents a valid choice for retail investors looking for a highly-regulated broker in Europe, by the Cyprus CySEC, and for traders looking to diversify their portfolio, as this CFD broker offers more than 12,000 tradable assets, with competitive trading costs. RoboForex also boasts another great feature, Cent accounts.

With a Cent account, the novice investors can trade the markets, and experience the real live prices and market conditions, risking only a small amount of the funds, when compared to a standard account.

On the downside, traders may experience some levels of slippage while trading with RoboForex (both positive and negative), a characteristic typical of forex brokers offering an ECN trading environment. Also negatively, the choice of regulator for its international clientele, the Belize ISFC, offers little to no protection to retail traders.

RoboForex Regulation / Money Protection

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
RoboMarkets Ltd	Cyprus - CY CYSEC		up to €20,000			30 : 1
RoboForex Ltd	Belize - BZ FSC					2000 : 1
RoboMarkets Ltd	Seychelles - SC FSA					300 : 1
RM Investment Bank Ltd.	Malaysia - LB FSA					100 : 1

Opening a trading account with RoboForex is possible with any of its entities, one in compliance with the European ESMA rules and the remaining for the international clientele.

International regulation: RoboForex Ltd, with a registered address at 2118 Guava Street, Belama Phase 1, Belize City, Belize will be the main counterparty for international customers. This entity is regulated by the Belize Financial Services Commission (FSC) with a licence number 000138/210 for the “trading in financial and commodity-based derivative instruments and other securities” category.

European regulation: RoboMarkets Ltd, with address at Arch. Makarios III Avenue 171, 8th floor, 3127, Limassol, is a financial services company registered as a Cypriot Investment Firm (CIF) under number 310464. RoboMarkets Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 191/13. The CySEC licence allows RoboMarkets Ltd to offer online financial services in Europe according to the guidelines set out on the MiFID rules.

Malaysia regulation: RM Investment Bank Ltd, with address at No. 1-23A, First Floor, Paragon Jalan Tun Mustapha 87008, Federal Territories Of Labuan, Malaysia, is an Asian investment bank, regulated by the Labuan FSA, with licence No. 210138BI. The RM Investment Bank Ltd entity is a member of the RoboMarkets Group and is the company’s trading arm for the Asian markets.

Client Money Protection

The broker complies with the highest standards regarding the client's funds safety. Therefore, RoboForex client's funds are kept in top-tier international banks, such as the Barclays Bank, in segregated accounts.

RoboForex also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. RoboForex holds client's money separately from the company funds and does not use these funds for any company operational expenses or purposes.

Deposit Compensation

Only the European regulated entity offers a deposit compensation scheme for retail investors. RoboMarkets Ltd is a member of the Investor Compensation Fund (ICF), a compensation fund of last resort for clients of CIF registered companies.

The fund is regulated by the CySEC directive DI87-07. In the unlikely event that RoboMarkets Ltd is unable to meet its obligations, or becomes insolvent, clients might be entitled to compensation up to the value of €20,000 per claim, irrespective of the number of accounts held, currency and place of the offering of the investment service.

Please note that the ICF, as stipulated on the latest ESMA product intervention, only covers retail deposits. Deposits of traders classified as “Professional” will not be covered by the CySEC ICF.

Negative Balance Protection

For retail accounts opened via any of the RoboForex Group entities, there is a default Negative Balance Protection in place, to protect clients from any losses bigger than their original deposits. With NBP, RoboForex customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.

Civil Liability Insurance Program

RoboForex took additional measures to ensure safety and compliance with its obligations to clients. The broker added a layer of security to safeguard customers by subscribing to a Civil Liability insurance program for a limit of 5,000,000 EUR.

This insurance program aims to safeguard the broker’s liabilities against clients, including market-leading coverage against omissions, fraud, errors, negligence and various other risks that may lead to the client’s financial losses.

RoboForex Cashback rebates

	ProCent	Pro	ECN	R Trader	Prime
Forex	20% Of the Broker Revenue*				10% Of the Broker Revenue*
Oil / Energies	-	20% Of the Broker Revenue*			10% Of the Broker Revenue*
Metals	20% Of the Broker Revenue*				10% Of the Broker Revenue*
Shares / Equities	-	20% Of the Broker Revenue*			10% Of the Broker Revenue*
Indices	-	20% Of the Broker Revenue*			10% Of the Broker Revenue*
ETFs	-			20% Of the Broker Revenue*	-
Cryptocurrencies	16.67% Of the Broker Revenue*			8.33% Of the Broker Revenue*	10% Of the Broker Revenue*
Payment Options	Direct to broker account (Daily) Cash back is credited directly to your broker account daily. Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	ProCent
Forex	20% Of the Broker Revenue*
Metals	20% Of the Broker Revenue*
Cryptocurrencies	16.67% Of the Broker Revenue*
Payment Options	Direct to broker account (Daily) Cash back is credited directly to your broker account daily. Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	Pro
Forex	20% Of the Broker Revenue*
Oil / Energies	20% Of the Broker Revenue*
Metals	20% Of the Broker Revenue*
Shares / Equities	20% Of the Broker Revenue*
Indices	20% Of the Broker Revenue*
Cryptocurrencies	16.67% Of the Broker Revenue*
Payment Options	Direct to broker account (Daily) Cash back is credited directly to your broker account daily. Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	ECN
Forex	20% Of the Broker Revenue*
Oil / Energies	20% Of the Broker Revenue*
Metals	20% Of the Broker Revenue*
Shares / Equities	20% Of the Broker Revenue*
Indices	20% Of the Broker Revenue*
Cryptocurrencies	16.67% Of the Broker Revenue*
Payment Options	Direct to broker account (Daily) Cash back is credited directly to your broker account daily. Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	R Trader
Forex	20% Of the Broker Revenue*
Oil / Energies	20% Of the Broker Revenue*
Metals	20% Of the Broker Revenue*
Shares / Equities	20% Of the Broker Revenue*
Indices	20% Of the Broker Revenue*
ETFs	20% Of the Broker Revenue*
Cryptocurrencies	8.33% Of the Broker Revenue*
Payment Options	Direct to broker account (Daily) Cash back is credited directly to your broker account daily. Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	Prime
Forex	10% Of the Broker Revenue*
Oil / Energies	10% Of the Broker Revenue*
Metals	10% Of the Broker Revenue*
Shares / Equities	10% Of the Broker Revenue*
Indices	10% Of the Broker Revenue*
Cryptocurrencies	10% Of the Broker Revenue*
Payment Options	Direct to broker account (Daily) Cash back is credited directly to your broker account daily. Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

How much RoboForex rebates can I earn?

Use our forex rebate calculator to estimate your RoboForex rebate earnings:

Instrument AAVEUSD ADAUSD ATOMUSD AUDCAD AUDCHF AUDJPY AUDNOK AUDNZD AUDPLN AUDSEK AUDSGD AUDUSD AUS200 AVAXUSD BCHUSD BNBUSD BSVUSD BTCEUR BTCJPY BTCUSD CA60 CADCHF CADJPY CADSGD CELUSD CHFJPY CHFSEK CHFSGD CHINA50 CHINAH COMPUSD CROUSD DAIUSD DOGEUSD DOTUSD DSHUSD DXY EGLDUSD EOSUSD ES35 ETHUSD EURAUD EURCAD EURCHF EURCZK EURDKK EURGBP EURHKD EURHUF EURJPY EURMXN EURNOK EURNZD EURPLN EURRON EURRUB EURSEK EURSGD EURTRY EURUSD EURZAR FILUSD FRA40 FTTUSD GBPAUD GBPCAD GBPCHF GBPCZK GBPDKK GBPHKD GBPHUF GBPJPY GBPMXN GBPNOK GBPNZD GBPPLN GBPSEK GBPSGD GBPTRY GBPUSD GBPZAR GER40 HK50 HTUSD IOTAUSD IT40 JPN225 LEOUSD LINKUSD LTCUSD LUNAUSD MKRUSD NEOUSD NETH25 NOKJPY NOKSEK NZDCAD NZDCHF NZDJPY NZDSGD NZDUSD OKBUSD SEKJPY SGDJPY SHIBUSD SNXUSD SOLUSD STOXX50 SUSHIUSD SWI20 THETAUSD TRXUSD TRYJPY UK100 UNIUSD US100 US2000 US30 US500 USDBRL USDCAD USDCHF USDCNH USDCNY USDCUSD USDCZK USDDKK USDHKD USDHUF USDILS USDINR USDJPY USDMXN USDNOK USDPLN USDRON USDRUB USDSEK USDSGD USDTHB USDTRY USDTUSD USDZAR VETUSD WBTCUSD Wheat XAGAUD XAGEUR XAGUSD XAUAUD XAUCHF XAUEUR XAUGBP XAUJPY XAUUSD XBRUSD XCUUSD XEMUSD XLMUSD XMRUSD XNGUSD XPDUSD XPTUSD XRPUSD XTIUSD XTZUSD ZARJPY ZECUSD

Deposit currency AUD BCH BTC CAD CHF CNH CNY CZK DKK DOGE DSH EOS ETH EUR GBP HKD HUF ILS INR JPY LTC MXN NOK NZD PLN RON RUB SEK SGD THB TRY USD XAG XAU XLM XRP ZAR

Rebate per lot

Pips AUD BCH BTC CAD CHF CNH CNY CZK DKK DOGE DSH EOS ETH EUR GBP HKD HUF ILS INR JPY LTC MXN NOK NZD PLN RON RUB SEK SGD THB TRY USD XAG XAU XLM XRP ZAR

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Forex pairs are 100,000 units per 1 lot

Units per 1 lot vary on non-forex pairs, please check with your broker

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RoboForex Web traffic

RoboForex Profile

24 hour support

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Accepts Japanese Clients

Non expiring demo

Trading API

Cent accounts

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Bonuses

Interest on margin

Fixed spread

Variable spread

Established in 2009, RoboForex is a fast-expanding broker and between 2019 and 2020, according to their corporate website, the broker reached the milestone of more than 4,500,000 investment accounts opened. Compared to when the broker established its headquarters in Belize and started with 1,724 trading accounts, this is an impressive growth rate.

The broker supplies retail clients and partners with quality and reliable brokerage services using modern tools and technologies. RoboForex strives to complete the trading needs of its clients, by offering reliable, high-quality and affordable services with a personal and confidential approach. This CFDs broker follows a hybrid Forex business model, offering trading services as a market maker, but also offering ECN/STP trading conditions as a non-dealing desk broker.

The broker’s multi-language customer support service is available 24 hours, 5 days a week, in 13 languages. RoboForex customer services can be contacted via several live chat widgets, including WhatsApp, Telegram, Line and Skype, local phone numbers (subject to jurisdiction), web form and email.

RoboForex is also a very popular CFDs broker with traders for the excellent range of trading platforms. Trading can be executed via the Metatrader 4, Metatrader 5, and cTrader with all the platforms available on web, desktop terminal and mobile versions.

For the more advanced traders, RoboForex also offers trading via its proprietary platforms, the R Trader available as a web version, and Mobile R Trader, suitable for trading on the go. With RoboForex’s R Trader platform investors can, even with minimal coding knowledge, create automated strategies and trading robots.

RoboForex Asset classes

One of the strong points of this CFDs broker. Aiming at providing as many investment opportunities as possible for traders, RoboForex offers an excellent range of 12,000+ assets available for trading, including forex, indices, stocks, commodities and cryptocurrencies.

FX market: 40 currency pairs, including all major pairs, and some minor and exotic crosses.

Indices: 4 world indices CFDs, including the US 500, US 30 and GER 40.

Stocks: 12,000+ stocks CFDs from several exchanges available for trading, including worldwide top companies and banks, such as Amazon, Apple, Citigroup Bank, eBay, Google, JP Morgan, Netflix and Tesla.

Commodities: 26 commodities CFDs available for trading; 20 combinations of metals – Gold and Silver versus several base currencies, and 2 energies – UK Oil and US Oil and 4 soft commodities.

Cryptocurrencies: 2 cryptocurrencies CFDs crosses available for trading, BTC/USD and ETH/USD.

RoboForex Account types

	ProCent	Pro	ECN	R Trader	Prime
Commission	-		$20.00 Per 1 Million USD Traded	As Low As $0.50 Per Contract	$10.00 Per 1 Million USD Traded
Maximum leverage	30:1 CYSEC; 1000:1 Others
Mobile Platform	MT4 Mobile	cTrader Mobile, MT4 Mobile, MT5 Mobile		Proprietary	MT4 Mobile
Trading Platform	MT4, MT5, WebTrader	cTrader, MT4, MT5, WebTrader		Proprietary	MT4, MT5, WebTrader
Spread Type	Variable Spread
Minimum Deposit	0			100	5000
Minimum Trade Size	0.1	0.01		1	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	ProCent
Maximum leverage	30:1 CYSEC; 1000:1 Others
Typical Spread	1.53
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	0
Minimum Trade Size	0.1
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Pro
Maximum leverage	30:1 CYSEC; 1000:1 Others
Typical Spread	1.53
Trading platform	cTraderMT4MT5WebTrader
Mobile platform	cTrader MobileMT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	0
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	ECN
Commission	$20.00 Per 1 Million USD Traded
Maximum leverage	30:1 CYSEC; 1000:1 Others
Typical Spread	0.43
Trading platform	cTraderMT4MT5WebTrader
Mobile platform	cTrader MobileMT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	0
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	R Trader
Commission	As Low As $0.50 Per Contract
Maximum leverage	30:1 CYSEC; 1000:1 Others
Typical Spread	0.01 USD
Trading platform	Proprietary
Mobile platform	Proprietary
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	1
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Prime
Commission	$10.00 Per 1 Million USD Traded
Maximum leverage	30:1 CYSEC; 1000:1 Others
Typical Spread	0.3
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	5000
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

RoboForex offers several types of trading accounts, with different execution models and pricing. The entry-level accounts are RoboForex’s Pro range of accounts, divided into Pro Standard and Pro Cent – both executed on a market maker model, meaning that RoboForex takes the other side of the trade.

The other RoboForex’s accounts are the ECN execution type accounts, divided into ECN, Prime and R Trader, with lower spreads, but with an added trading commission.

The RoboForex’s Pro Standard and Pro Cent accounts are best suited for investors that wish to trade only with the bid and ask prices, without added commissions.

The ECN and Prime accounts are recommended for investors looking for more competitive pricing, especially for the forex pairs, with tighter spreads, but paying a trading commission – ranging from 10 USD (Prime account) to 20 USD (ECN account) per million traded.

RoboForex also offers swap-free accounts for traders of Islamic belief, and the broker is also a viable option for money managers looking for a PAMM accounts provider and/or for a Copy Trading service – RoboForex’s social trading platform, available for registered users.

Regarding leverage, RoboForex maximum ratio is 2000:1 for retail clients opening a live account with the off-shore entity in Belize (only for the Pro Standard and Pro Cent accounts) and limited to 30:1 – as per ESMA’s 2019 product intervention – for retail traders opening a trading account with the Cyprus CySEC regulated entity. For investors opening an account with the RM Investment Bank Ltd entity in Malaysia, the leverage, or "maximum credit line", is limited to 100:1, across all account types.

Currently, RoboForex trading accounts are only available in 4 base currencies: CNY, EUR, GBP and USD.

RoboForex Demo account

With a RoboForex demo account traders can compare the broker to its peers, for its product offering and trading conditions – which the broker guarantees are similar to live accounts. But a RoboForex demo account also serves the purpose for novice traders to practise their trading skills in a safe environment, without risking losing real money.

To open a RoboForex demo account traders will need to fill in a simple form – email address, name and surname and mobile phone. Please note that to open a demo account, traders do not need to upload any verification document(s) to RoboForex.

After clicking the “Next Step” blue button, traders will receive a welcome email from RoboForex confirming the registration and with the logins to the “Members Area”. On the Members Area, under the “Accounts” tab, users can create a new demo account. From the options presented, users can choose 1 of the 4 trading platforms, between the Demo Pro and the Demo ECN, and set the leverage limit (up to 2000:1).

The next step is to select the star deposit – the Initial deposit on a demo account is a sum of virtual money, which you deposit to your account for further trading. It can't be withdrawn. The last step to create a demo account is to set an account password. After hitting the “Confirm” blue button, users will receive the platform log in with the account number and password.

The RoboForex demo account is non-expiring and allows potential investors to test all of the broker's account types and pricing on several financial instruments – forex, indices, stocks, commodities and cryptocurrencies, without risking any real money. The demo account is 100% risk-free and the funds are virtual – including both winnings and losses, of course.

Register for free and test your trading strategies, open a RoboForex demo trading account, with no risk and no obligation, now.

Try the RoboForex broker, risk-free!

Open a Demo Account

RoboForex Pricing

Spreads and trading commissions

RoboForex’s pricing and trading costs are not the most competitive when compared with other players in this industry. The starting spread for the most popular cross, the EUR/USD pair, on the Pro Standard and Pro Cent accounts is 1.3 pip, commission-free.

And things don’t improve much with the ECN execution type accounts, the ECN and the Prime accounts. Even with an advertised more competitive pricing and trading conditions, taking the EUR/USD cross again as our example, RoboForex offers a starting spread of 0.0 pip, with a starting trading commission per 1 million of base currency units traded of 10 USD.

We consider the ECN, and Prime, account trading commissions to be higher when compared with other top brokers – who charge on average between 6-7 USD per round lot.

The main differences of the Prime account versus the ECN account – as both offer starting spreads from 0.0 pip – is the maximum leverage ratio, restricted to 300:1 with the Prime account, and the unavailability of the cTrader platform.

Rollover rates

RoboForex swap rates, as of 21-09-2021, and for the EUR/USD, stand at -9.20 for holding overnight a long position of 1 lot and at +0.90 for holding overnight a short position of 1 lot. Again, we consider RoboForex’s rollover rates to be worse when compared with the swap rates offered by other top brokers.

RoboForex Deposits / Withdrawals

Deposit fees: Trading accounts can be opened in just 3 different currencies and maintained via 20 funding methods. Including the traditional methods - debit/credit cards and bank wires - RoboForex also accepts deposits with the most popular e-payment solutions (subject to jurisdiction), such as Neteller, Skrill and FasaPay.

RoboForex does not charge any deposit fees, and deposited funds are available almost instantly.

Minimum deposit: Opening a live trading account with RoboForex is fairly easy and it can all be done on the broker’s website, in 3 easy steps; fill in the registration form, confirm your identity and do the first deposit. The minimum deposit requirement with RoboForex for the Pro Standard, Pro Cent and ECN accounts is 0 USD!

Please note that with a zero balance, RoboForex clients will not be able to open any trades. On the other hand, traders can check out the broker's trading platforms and trading conditions, and how the spreads widen on high-impact news, for example.

Withdrawal fees: RoboForex also waives the withdrawals fees (withdrawal processing times vary from instant to 1 business day). RoboForex does not charge clients any fees for withdrawals, however, credit card providers, banks or payment systems may apply a withdrawal transaction fee, or commission, that is beyond the broker's control. For more information, please visit the RoboForex deposit and withdrawals dedicated page.

Inactivity fee: Currently, RoboForex does not charge an inactivity fee or any account maintenance fees.

RoboForex Popularity

The popularity of RoboForex Ltd is undeniable. By offering a good range of tradable assets, by using innovative technologies, and varied account types, merged with the now many years of experience, RoboForex found the right formula to capture users’ attention. RoboForex aims at providing its clients and partners with a great trading environment, regardless of their experience and the number of their investments.

RoboForex is also a very popular CFDs broker with the trading community for the excellent range of trading platforms on offer. Trading can be done via the more traditional MetaTrader solutions – MT4 and MT5 – and for the savvy traders, RoboForex also offers trading via the cTrader and RoboForex proprietary platform, the R Trader.

Popular trading account: The Prime account is the popular choice with traders looking to save on RoboForex’s trading costs, with lower spreads and a lower commission of $10 per million base currency units traded (compared to $20 per million base currency units traded of the ECN account).

Trading education

RoboForex deserves some popularity points for their good range of trading education materials, available through the “For Clients” tab on the broker’s website. RoboForex users can find some useful trading tools, like the trading calculator and the R Trader Strategy Builder, together with educational videos, price chart analysis and access to the RoboForex Analytics Centre.

Research & education materials available on RoboForex website
FX Courses - money management, how to trade the markets, etc.
Market Analysis - daily or weekly market reports
Webinars - live, online trading education with experts
WebTV - live video stream of financial news
Trading Videos - trading education videos
Trading eBooks - trading education literature
Trading Strategies - technical analysis strategies
Trading Tools - calculators, economic calendar, etc.
Market Signals - suggested buy/sell entries with TP and SL levels

RoboForex Promotions

Classic Bonus up to 120%

Free VPS Services

Zero Fees on Deposits & Withdrawals

12th Anniversary Promotion

RoboForex FAQs

What is RoboMarkets?

RoboMarkets is an online CFDs broker, part of the RoboMarkets Ltd Group, a financial services company with a registered office in Limassol and supervised by the Cyprus CySEC with licence No. 191/13.

This broker operates internationally in 169 countries around the world and offers its customers 8 types of assets and multiple tools for online trading.

RoboMarkets activities are regulated in Europe by the CySEC and for international retail traders by the Belize IFSC, with a brokerage licence number 000138/107. More recently, the Group launched the website robomarkets.asia, aimed at the Asia-Pacific markets and to promote the RM Investment Bank Ltd entity, an investment bank regulated by the Labuan Financial Services Authority (Labuan FSA) with licence No. 210138BI.

For the safety of its customers, the RoboMarkets broker offers negative balance protection, is also a member of the Financial Commission Compensation Fund and undergoes execution quality certification, carried out regularly by Verify My Trade.

In addition, RoboMarkets is also a member of the Financial Commission, whose purpose is to regulate conflicts between the online CFDs brokers and its customers.

What is RoboMarkets Asia Ltd?

RoboMarkets Asia Ltd is a financial services company with registered headquarters at Office 6 (B), Financial Park, Labuan, Malaysia, and supervised by the Labuan Financial Services Authority (Labuan FSA), with licence No. MB/19/0034.

The company is registered to provide online financial services for Asian traders on the global forex and CFD markets from Malaysia.

RoboMarkets operates in the Asian markets through RM Investment Bank Ltd, an investment bank regulated and supervised also by the Labuan FSA, with licence No. 210138BI.

RM Investment Bank Ltd offers investment opportunities on more than 10,000 financial instruments, divided into 7 asset classes - currency pairs, stocks, indices, ETFs, commodities, energies and metals.

Regarding client money protection, RoboMarkets keeps the company’s funds segregated from its clients’ funds, thus guaranteeing that they are safe and secure from any unlawful use. Also, if clients are unable to keep a positive balance on their trading accounts, due to extreme market volatility, for example, RoboMarkets applies a Negative Balance Protection mechanism, automatically setting the balance to zero.

The entity developed investment platforms for its clients, taking into account the needs of investors. Investments can be carried out via 3 platforms; MetaTrader 4, MetaTrader 5 and R StocksTrader, a multi-asset web-based investment platform with the fastest financial charts in the industry and advanced tools for technical analysis.

RoboMarkets accepts account funding only in USD, always with 0% commission – and clients can also withdraw without commissions twice a month. Customer service is available with 24/7 online support, by a professional team working in RoboMarkets Live Support, always ready to answer questions in 7 languages.

Are RoboForex accounts available to residents of Nigeria?

Yes, residents of Nigeria can open a trading account with RoboForex, through the RoboForex Ltd entity, regulated and licensed by the Belize Financial Services Commission (Belize FSC).

Nigerian traders can open a live account with RoboForex with a $0 deposit and start trading forex and CFDs with an initial minimum deposit of $10. The broker has several account types available - Pro Standard and Pro Cent with market-making execution – and ECN and Prime – with ECN environment trading conditions.

Trading can be done with several platforms – MT4, MT5, cTrader and RTrader – and Nigerian retail traders have the potential to apply for a trading account with a maximum leverage ratio of 2000:1 – subject to account type.

Unfortunately for Nigerian traders, RoboForex does not offer NGN based trading accounts and local phone support is not available in Nigeria.

What are the RoboForex Pro Cent account specifications?

The RoboForex Pro Cent account is a version of the RoboForex Pro Standard account but in cents. It allows RoboForex’s clients to conduct transactions under the Pro conditions - the trading conditions are equal to those of the Pro Standard account - without risking losing large amounts of money.

The RoboForex Pro Cent (micro) account allows investors to practise/trade with micro-lots (1,000 currency units) and with real money on several markets, including 36 FX pairs and metal, thus the Pro Cent account is surely the best way to enter the world of real trading.

The main feature of the RoboForex Pro Cent accounts is the use of 100x denominated monetary units of each base currency - US Cent and EUR Cent, for example.

An investor depositing just $10, for instance, to a Pro Cent account will have an account balance of 1,000 Cents. As a result, Cent accounts are excellent not only for novice traders to test their trading strategies - and learn while practising with real market conditions - but also for professionals.

Professional traders can benefit from a Pro Cent account if they need to test new trading strategies, or, for the fans of algorithmic trading, it can also be a valuable resource to test Expert Advisors in real market conditions without any significant financial investments.

For the RoboForex Pro Cent account, the minimum deposit is just $10, and trading is offered via MT4, MT5 and RoboForex’s RTrader platform. With a minimum order volume (lots) of 0.1 for the Pro Cent MT4 and 0.01 for the Pro Cent MT5, pricing is average, with a variable spread starting at 1.3 pips, but with no added trading commissions.

Investors with a RoboForex Pro Cent account can also benefit from the broker’s other features, such as commission-free deposits and monthly free withdrawals and other ongoing bonuses or promotions.

What is RoboForex minimum first deposit?

The RoboForex minimum first deposit varies according to the entity contracted and the account type, but overall is $10 for the RoboForex Ltd entity, regulated in Belize, $100 for the RoboMarkets Ltd entity, regulated in Europe and $100 for the RoboMarkets Ltd entity, regulated in Malaysia. Please check the table below for the complete breakdown of RoboForex minimum deposit per account type and entity.

Is the web trader available with RoboForex?

Yes, a web trader platform is available with the RoboForex broker, the R Trader. The R Trader is a web terminal and is the company's proprietary solution. R WebTrader offers traders many advantages, allowing trading of your MT4 accounts conveniently from anywhere in the world – and on any mobile device, with the R Trader Mobile version.

The web trader platform comes packed with many options and using only the most advanced tools; 13 technical indicators, 9 technical analysis tools on charts, expert analysis by RoboForex and some nice features like easy account management, and best of all, it's completely free of charge.

To access the web terminal, follow the link to the web trader RoboForex and enter the email address and password you specified when registering in your Member's Area into the appropriate fields.

To open the desired account in the trading terminal, you should choose it from the list in the upper left corner, click on it and then enter your trading password. The web trader RoboForex platform supports all types of MetaTrader4 trading accounts, including real and demo accounts.

RoboForex review - final considerations.

We conclude our RoboForex review with the final considerations regarding this CFD broker. RoboForex stands out for its great range of tradable assets and the complete offering of trading platforms. Also positively, RoboForex is one of the few brokers offering the Cent account, the perfect training ground for the novice traders, allowing them to test strategies and trading skills and “feel” how the currency markets behave, especially in periods of extreme volatility that can move a pair’s price by 10ths of pips in seconds.

Unfortunately, the broker’s pricing is not the most competitive, and although the ECN type accounts starting spreads on major forex pairs is 0.0 pip, the slightly higher than average trading commission inflates the overall cost of trading.

With RoboForex traders are allowed to hedge, scalp, swing or position trade, with no restrictions, via 3 reliable trading platforms; MT4, MT5 and cTrader, and the broker's trading platform, the RoboForex R Trader, available on the web and mobile versions.

Overall, the diversity of trading platforms and assets, the broker's offering of trading accounts in cents, together with a low initial deposit of 10 USD, position this CFD broker on the top 5 brokers for popularity with traders opening a trading account in 2023.

RoboForex Real customer rating

(102)

RoboForex reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.

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Based on user reviews from RoboForex's verified customers, with a live trading account, this broker is recommended for its deposit and swift withdrawal processing times, with traders mentioning that withdrawals are almost instant with certain online wallets.

Traders were also pleased with RoboForex’s cashback program, where traders will get part of the trading commissions reimbursed – subject to monthly trading volume – and praised the broker’s customer support service for their efficiency.

Negatively, a few traders point out RoboForex’s pricing, with a special note for the spreads, trading commissions and swap rates, perhaps something that the broker could/can improve shortly.

Review sources

For over 10 years we have been one of the top IB brokers for live forex and CFD trading accounts to virtually all the world's first-class retail brokers. One of our foremost goals is to help traders make informed decisions by publishing unbiased and accurate content, supported by primary sources.

These sources may include information supplied by the broker itself, government data, data available on the broker's corporate website(s), the broker’s analysis from our industry experts, and the opinions of verified traders with a live account. The information on this RoboForex review page was also collected from:

• Belize Financial Services Commission website, RoboForex Ltd, company details page.
• Cyprus Securities and Exchange Commission website, RoboMarkets Ltd, company details page.
• Seychelles Financial Services Authority website, RoboMarkets Ltd, company details page.
• RoboForex (roboforex.com) global website, Trading Accounts, trading accounts specs page and Contract Specifications, asset class specs page.
• RoboForex (roboforex.com) global website, Regulations, regulated entity page.
• RoboForex (robomarkets.com) European website, Regulations, regulated entity page.
• RoboForex (roboforex.com) global website, Top 10 FAQs, RoboForex FAQs page.
• FXverify website, RoboForex user reviews by verified traders with a live account, reviews page.