Summary

RoboForex Group offers trading services across multiple financial markets. The broker holds regulations from reputable institutions such as Cyprus Securities and Exchange Commission (CySEC) and Financial Services Commission (FSC). Its product portfolio comprises 12,000+ tradable instruments, including stock CFDs, real stocks, indices, currency pairs, cryptocurrencies and many more.

Since the broker is known to be a competitive choice for trading stocks, this RoboForex review will look deeply at how the firm caters to the trading needs of stock traders and whether or not it allows you to invest in real shares. We’ll also explore the trading platforms, mobile trading apps, account types, spreads, fees & commissions, payment methods and safety features to help you assess if the broker is the right fit for you.  

Available Assets

RoboForex offers an extensive product range and deals in almost all markets. Clients can trade 12,000+ financial instruments across multiple asset classes. Here is a quick review of each asset in this section.  

Stocks

Due to their superior performance in the long run, stocks form the backbone of many investors’ portfolios. Customers have the option of making long-term investments or opting for short-term trading. RoboForex gives you access to 8,400+ stock CFDs and 3,000+ real stocks. While corporations in the UK, Germany, the US, and Switzerland are excellent for investment purposes, clients can consider buying shares of well-known companies like Amazon, Google, Netflix, and Apple. 

Indices

Indices are a type of trading instrument that track the price movements of a basket of shares. With the help of indices, investors can diversify their holdings, get data on the economy as a whole or on a specific sector, and take more informed trading decisions. RoboForex provides its customers with 10+ indices, such as  the Dow Jones index,  along with the best trading conditions. 

Forex

Trading currencies allows you to find trade opportunities by speculating over the prices of different currency pairs. However, predicting currency changes in the currency prices can sometimes become a daunting task, even for expert professionals. RoboForex offers 40+ pairs under its forex listings, such as EUR/USD, GBP/JPY, AUD/USD, etc. 

Commodities

For thousands of years, the market for soft commodities has thrived. Commodity trading includes buying and selling a vast array of products, including oil, gas, gold, sugar, coffee, etc. RoboForex is a cutting-edge investment platform where you can access 100+ highly sought-after instruments through R StocksTrade.

Cryptocurrencies

Cryptocurrencies should be at the top of the investment priorities of anyone who isn’t afraid of substantial market fluctuations. This new asset class provides peace of mind through diversification while giving adrenaline-rush through higher volatility. RoboForex supports 30+ cryptocurrencies, including Bitcoin, Ethereum, Litecoin, etc., so you can trade any digital currency you like. 

ETFs

An exchange-traded fund (ETF) is a financial vehicle that acts like a single stock and trades multiple underlying assets (stocks, metals, products, etc.). The ETF is a low-cost diversification tool that can help you spread your investment risk across a broader range of assets. RoboForex facilitates trading in 1,000+ ETFs, such as FITS (The Health and Fitness ETF), USMV (USA Min Volatility MSCI Ishares), SPY (SPDR S&P 500 ETF), etc. 

Stock Trading at RoboForex

Trading stocks involves buying and selling shares of a company. Stock trading carries high risk, but one can improve their odds by researching and studying the market. Day and long-term trading are two types of stock trading. 

A long-term investment is one in which you plan to keep your money for several years. A long-term stock market investment might be profitable, but it will only work if you can hang on for the journey. On the other hand, day trading stock entails buying and selling shares many times throughout a single session. Day traders are short-term investors who keep an eye on stock prices to know whether the value of an underlying stock will continue to rise or fall in the following few minutes to several hours/days. RoboForex deals in real shares and CFDs, so you can choose to go either way. You can also enhance your market exposure using the leverage of up to 1:20 when trading stock CFDs. 

Let’s review some of the more well-known investment techniques that traders on RoboForex commonly employ.

Buy & Hold: The most prevalent trading method in every market, including equities, is buying and holding. Investors buy equities at inexpensive rates and keep them till their value surges. This way, investors anticipate an increase in their returns in the form of dividends and capital gains on their holdings.

Investing In Undervalued Stock: Investors will occasionally use underpriced equities as a trading strategy. They essentially look for undervalued companies with a proven track record or promising futures. Prices of undervalued stocks tend to grow over time to reflect their true or intrinsic value. 

Momentum Trading: Some investors are more comfortable just going with the flow. They typically prefer investing in stocks with upward momentum. Notably, momentum trading is relatively riskier than the other two listed above. 

Available Stock Exchanges At RoboForex

RoboForex ranks well among the finest platforms for trading actual stocks and shares CFDs due to its connectivity with a wide variety of stock exchanges. The broker facilitates stock trading on some of the world’s largest and most liquid markets, including the FTSE, NYSE, NASDAQ, and others. We’ve created a table in this review to help you know some of the popular stock exchanges accessible for trading your desired equities. Please be informed that the broker offers trading in real shares for US Stocks only. However, you can trade stocks as CFDs for all other regions. 

Stock Trading Fees & Commission at RoboForex

Each time an order is executed, the broker deducts a commission from your account balance. This percentage is tacked onto the end result of a trade. The broker charges 0.025 USD per share for trading US Stocks. On the other hand, you pay a commission of 0.02 USD and 0.7% of your position’s value when engaging in trading US and European CFDs, respectively. 

Since the broker hasn’t listed more detail on commission charges for trading stocks, the commission for a trade can be seen in the New Order, Quick Trade, or Trade History windows. 

Stock Trading Leverage At RoboForex

Opening positions with borrowed funds is known as “leverage.” Brokers aid their clients in increasing their potential earnings within the constraints of their current resources. However, leverage is a two-edged sword that can both raise your risk of loss and broaden your exposure to the market. RoboForex allows you to leverage as much as 1:20 when trading CFDs on equities.

Regulations

RoboForex is a part of the forex Group which comprises two entities, “RoboForex Ltd” and “RoboMarkets Ltd”. The company facilitates European clients through RoboMarkets while it registers clients from the rest of the world under RoboForex. Below we list the address for both entities, along with information on their regulatory setup for your review. 

RoboForex Ltd.: The company is registered with the Financial Services Commission (FSC). It is an “A” rated member of The Financial Commission and hence is eligible to receive compensation under The Financial Commission’s Compensation Fund. The company’s official address is 2118 Guava Street, Belama Phase 1, Belize City, Belize.

• Licence Number: 000138/333
• Company Registration Number: 128.572

RoboMarkets Ltd.: The entity has a Cyprus Securities and Exchange Commission (CySEC) licence and operates as a stockbroker in Europe. The company’s official address is at 3027 on the eighth level of 169-171 Arch. Makarios III Ave, Limassol, Cyprus.

• Licence number: 191/13

Fees and Commissions

RoboForex fees are relatively higher compared to other brokerage firms’ pricing structures. Here, we’ll review what the broker charges for both trading and non-trading activities. The term “trading fees” encompasses a wide range of charges associated with executing a trade, including spreads, commissions, and swap charges. On the other hand, non-trading fees include charges that are not directly related to your trading activity, such as account inactivity fees, currency conversion charges, or fees on deposits and withdrawals. 

Trading Fees

RoboForex makes most of its earnings via spreads. However, it also charges commissions on trading stocks, currencies and other financial instruments. Below we explain the spreads and commissions charged by the broker in the ProCent and ECN account. Since the company applies different rates to other account types, you must visit the company’s official website to see the pricing details for other accounts. 

Spreads

Roboforex spreads start from 1.3 pips on major currency pairs like EUR/USD, GBP/USD, etc on the ECN account. Though spreads on precious metals like XAUUSD seem higher since it starts around 16 pips. The minimum spread on cryptocurrencies like BTCUSD is 64.94 pips.

Commissions

In addition to variable spreads, the broker also charges commissions for trading financial instruments across all asset classes. For instance, the broker charges $13 per lot in the Procent account, while ECN account holders pay a commission of $20 on EUR/USD for a trading volume of 1 million USD. 

Rollover Fees/Swap Rates

RoboForex also charges a swap/rollover commission. Holding a Contract for Difference (CFD) overnight will result in a credit or debit, depending on the market conditions. Therefore, an overnight CFD position will incur a borrowing fee. Those holding swap-free accounts are charged a fixed commission, which depends only on the type of currency pair and the number of open lots but not on the issuing banks’ interest rates.
For example; If a Roboforex client opens a long position on EUR/USD with 10,000 units at a price of 1.2000 and holds it overnight, they may be charged an overnight fee of around $-1.2 in both ECN and Pro accounts, based on prevailing interest rates and the notional value of the position. The actual fee may vary depending on several factors.

Non-Trading Fees

There will be a non-trading cost as well when you trade with RoboForex. Below we review how much the company charges amid non-trading activities. 

Deposit & Withdrawal Fee

Unlike most brokers in the industry, the company charges some fees on withdrawals. Though it currently runs a promotion to offer free deposits and withdrawals. Clients can expect to pay anywhere between 0.5% to 4% of the transaction value during withdrawals. 

Inactivity Fees

RoboForex doesn’t charge account inactivity fees. Therefore, dormant clients can resume their trading activity whenever they like. 

Account Types

RoboForex provides its clients various account options, including Prime, ECN, ProCent, Pro, and RStocks Trader. Each account category serves a unique purpose. While there is little difference between the accounts regarding services and features, the number of traded assets may change. We will review each of the account types below. 

Demo Account

Demo accounts do not require you to put up any of your own money to start trading. They serve to be a potent tool for simulating live market conditions and testing the efficacy of trading techniques and EAs prior to committing real money.

Clients can benefit from RoboForex’s “Cashback (Rebates)” programme even when using a demo account to practise trading. Virtual cash rebates help you estimate how much you stand to gain from the programme once you move to a real account. The demo account comes with a virtual balance of $100,000 with an unlimited expiry. 

ProCent

This is a type of account that facilitates testing of trading techniques and expert advisors, as well as a seamless transition from practice trading to real money transactions. You can get started with the broker with a deposit of $10 using the ProCent account. Clients can trade 36 currency pairs besides other tradable assets on this account. While the minimum spread is 1.3 pips, the maximum leverage available is 1:2000.  

Pro

This trading account is the most common among novice traders. With a deposit requirement of as low as $10, the company makes it easier for clients to “flow into” currency and stocks CFD trading via the Pro account. The number of tradable assets and leverage stays the same as offered in other account types. 

ECN

Those who prefer instant trade execution can open an ECN account with the broker. The minimum deposit to sign up for the ECN account is $10. Clients can trade currency pairs, metals, stocks and crypto CFDs using the leverage of up to 1:500 in the ECN account.

Prime

Prime accounts are available to customers interested in the best trading conditions. While the minimum deposit to open the account is the same as the ECN account, the maximum leverage available to prime account holders is 1:300. Clients can trade more than 36 currency pairs in addition to multiple stocks, indices, commodities and cryptocurrencies.  

R Stock Trader

The broker provides a separate account for trading stocks. Clients need a minimum deposit of $100 to sign up for this account. Besides having access to 12,000+ CFDs across all financial markets, clients can trade real stocks using the R Stock Trader account.

Islamic Accounts

Since Islamic Sharia law prohibits the use of swaps in financial transactions, the company also offers swap-free accounts to those who do not want to engage in interest-based trading activities. Swap-Free account holders are subject to a flat foreign exchange commission that is based on the currency pair and the number of open lots but not on the interest rates of the issuing banks. 

Trading Platforms

When it comes to trading platforms, RoboForex has you covered with a wide selection, including the company’s own customised software, RTrader, and the whole suite of MT4 and MT5 trading platforms. All the supported trading platforms are accessible online from any computer or mobile device. Here is a review of the features available via RoboForex platforms. 

Desktop Trading Platform

Customers who would rather do their research on the market via desktop trading can do so by using the RoboForex platforms, RStocksTrader. Being a multi-asset terminal, RStocksTrader features state-of-the-art functionality and a thoroughly modern twist on a timeless aesthetic. Here are the features of the trading platform.

User-Interface

The desktop trading platform has a unique yet customer-friendly trading interface. It allows anyone to explore around without any assistance.  

Market Watch

Clients can keep tabs on real-time price quotes using the desktop trading platform’s market watch and select their favourite tradable asset conveniently. 

Technical Indicators & Charting Tools

The platform comes with 13 built-in technical indicators and nine charting tools. Annotating charts with the help of the robust and user-friendly RStocksTrader becomes an easy task. 

Market Insights

Clients can conduct in-depth research and analysis on the current state of the market using the tools available under the market insights section. 

Order Types

The platform supports all the basic order types, including market, stop and limit orders. 

How to Open an Account on RoboForex Desktop Trading Platform

In order to open an account on RoboForex desktop trading platform, you will need to follow the steps that are listed below.

1. Go to the official website of the broker, and in the top right-hand corner of the home screen, look for the button that’s labelled “Open an account.”
2. First, your name and email address are required, and then you need to provide your mobile phone number.
3. Read the terms and conditions and confirm your agreement.
4. Your account is now prepared. You can investigate further choices by clicking on the dashboard.
5. Upload the supporting documents to complete the KYC process, such as a copy of your national ID card, Passport or Driving licence. You may also need to provide a copy of your bank statement, or utility bill for address verification.
6. To add some funds to your account, select the “new deposit” button from the menu.Choose the mode of payment that works best for you, such as a credit card, a debit card, Skrill, Neteller, or a bank transfer, among other options.
7. Choose the base currency for your account, as well as the amount you wish to deposit, from the drop-down menu. You also have the option of entering the value manually. In addition, you have to specify how you want to receive the bonus.  
8. Check the total, and then click the Confirm button in order to move on to the Authorization page.
9. Provide your payment information and authorise them to complete fund transfers.
10. Access the dashboard and start using it. You can choose the desired financial instrument by navigating to the market watch and making your selection there.
11. Once your trading preferences have been configured, you will be ready to open your first position.

Mobile Trading App

Clients on the go have the option of using either the proprietary RoboForex app, RTrader, or selecting third-party platforms like MT4, or MT5, among others. The RMobileTrader app comes with nearly all basic and advanced functionality that you may access via the desktop terminal. Clients can install the mobile trading app from the Google Play Store or App Store for their respective Android or iOS-based mobile phones and tablets. Let’s review some features of the broker’s mobile trading app.  

User-Interface

The mobile trading app has a sleek design which makes it pretty convenient for newbies to navigate conveniently. 

Quotes

This tab allows traders to view all the trading symbols and select the ones they wish to trade. 

Charting Tools

The charting tab enables clients to view the price movement of the underlying assets under different timelines. 

Indicators

Clients can also select different indicators using the indicator menu available at the top of the charting window. 

CopyFX

If you are new to the market or you don’t have enough time to trade yourself, the CopyFX option allows you to replicate the trades of other professionals. 

How To Open An Account on RoboForex Mobile Trading App

Opening an account on RoboForex mobile trading app involves the following steps. 

1. Open the R Mobile Trader App on your mobile device and click on the registration button at the top of your mobile screen.
2. Select the entity you want to signup with and provide details, such as name, email ID and mobile phone number.  
3. Read the terms and conditions and mark your agreement, then click the blue “open account” button.
4. Complete the KYC process and submit the supporting documents, such as ID card, Passport, or Driving Licence for ID verification. You also need to upload your bank’s statement, or utility bill as a proof of address.
5. Access the dashboard and navigate to the deposit account menu. Select your preferred payment method, such as Debit Card, Credit Card, Neteller, Skrill, PayPal, Bank transfers, and other local payment methods, etc.  
6. Enter your desired amount, choose your account’s base currency and click on the deposit button.
7. Authorise your payment details. For instance, if you make payment via card, you must enter the card number, expiry and three-digit code from the back of your card to complete funds transfers.
8. Navigate to the dashboard on your mobile phone, and click the quote tab. Select your preferred tradable asset, configure your position settings and start placing trades.

Payment Methods

There is a wide variety of options for deposits and withdrawals at RoboForex, including credit cards, debit cards, Skrill, Neteller, Google Pay, Fasa Pay, Apple Pay, and many others. The broker also accepts cryptocurrencies. This section of the review will show how much time the broker takes to process deposits and withdrawals and whether there is a fee associated with each payment method.

Deposits

Except for the RStocksTrader account, all RoboForex accounts require a minimum deposit of only $10. Signing up for a stock trading account requires a monetary commitment of at least $100 from the client. The maximum deposit allowed is $50,000 in one transaction. However, customers can deposit as much as 100,000 JPY ($100,000) by bank transfer. Please be informed that the broker doesn’t accept third-party payments in compliance with AML guidelines. Therefore, you must use the payment source registered in your name only.

In general, it takes up to one business day for payments to be processed when using any of the payment options. However, it may take up to three business days for the funds to appear in your trading account after a bank transfer has been made.

Withdrawals

Interestingly, the company handles withdrawal requests in the same way that it accepts deposits. The fund you’ve asked for should show up in your bank account the next working day, most of the time. However, it may take up to 10 working days if processed to cards. Although there is no minimum threshold for requesting withdrawals, the company does charge its clients a fee between 0.5% to 4% depending on the selected payment method. 

Account Base Currency

You can open a trading account in USD, EUR, GOLD, CNY, BTC, ETH and USDT. 

Research and Education

One way to evaluate a business’ dedication to its customers is by exploring the depth of the training materials it provides for its clients. It appears that this broker has made a special effort to provide its customers with opportunities for professional development through rich educational resources. RoboForex provides its users with both video and written tutorials that cover the basics of the stock and currency market. There is a data centre, and the company also provides daily analyses and projections. Traders can maintain tabs on the dates of significant economic events with the help of an economic calendar.

An additional feature of this broker is a blog where experts offer their insights on trading strategies and market news. The broker does a good job of keeping the instructional part updated, but it lacks a glossary, which would be a huge benefit to rookie traders who are just learning the ropes of stock trading.

Customer Services

RoboForex offers first-rate customer services to its clients around the clock. The company has a dedicated frequently asked questions page, and its support team is available seven days a week. The organisation welcomes inquiries by telephone, electronic mail, and real-time chat. While social media platforms including Facebook, Twitter, Instagram, and YouTube feature the business’s content, the company also has a Whatsapp and Telegram presence for customers’ convenience. Should you wish to connect with the company, the following information may be helpful. 

Telephone: +65 3158 8389

Email: info@RoboForex.com

Reviews

Customers’ feedback on Quora, Reddit, Trustpilot and Forexpeacearmy can help clients determine a broker’s reliability and service quality. It provides valuable insights into other traders’ experiences, both positive and negative, with a particular broker, which helps them make an informed decision. Let’s quickly review what users say about Roboforex on each of the platforms we’ve just listed. 

What Reddit Users Say About RoboForex

The Reddit community seems to have mixed opinions about signing up with RoboForex. While some clients believe the company is a competitive choice for trading stocks, others seem unhappy with the broker’s poor copy trading services. While answering a query raised amid the legitimacy of RoboForex, a member replied that he never had any issue with the broker. He further added that the broker is good with payments, but its spreads aren’t competitive. However, some clients also disliked the broker’s availability in certain jurisdictions, such as Canada, Australia, Japan, and the United States. 

What Quora Users Say About RoboForex

RoboForex holds a good reputation in the Quora community. While some people liked the flexibility of choosing your desired platform and account types, others seemed happy with the company’s pricing structure and seamless customer support. Someone also mentioned the broker being the winner of the best stock broker award for consecutive two years. Overall, the Quora community seems to be supporting the firm wholeheartedly. 

TrustPilot Users’ Review About RoboForex

Traders’ opinions of the company are not very satisfactory. With an average Trustpilot score of 2.9/5 after 260 reviews, the company seems to have hit the red line amid reliability. While 35% of clients rated the organisation as excellent, 49% of traders said they were dissatisfied with the service they received. Other clients seem to have a mix of opinions with some calling the broker a competitive choice for stock trading while others accused it of price manipulation.  

ForexPeaceArmy Users’ Review About RoboForex

Unfortunately, the reputation of the broker doesn’t look different from the Trustpilot on the FPA either. The company could only manage to receive a rating of 2.5/5 after 183 reviews. Most traders reported withdrawal issues with the broker, while some clients also claimed the broker employs malpractices amid trade executions. We also found positive comments about the company but they are limited. 

Other Products and Services

While we’ve already covered quite a lot about the broker, let’s take a look at some other products and services RoboForex offers.

Promotions

The company keeps running promotional campaigns occasionally to offer clients exciting rewards. It picks 64 winning combinations based on the closing prices of stocks from major US corporations on the first Friday of each month. People whose Coupon numbers are mathematically closest to the combinations will win.

VPS Service

When it comes to your VPS server, you don’t have to rely on your ISP for a constant connection to fast, reliable internet. The company provides you a free VPS server for sustained connectivity. No doubt, trading with robots becomes increasingly convenient as a result of constant, high-speed connection to the server.

Affiliate Program

RoboForex offers an affiliate program that allows its clients to earn commission by referring new traders to the platform. The program is designed to reward clients who promote RoboForex services to their network of contacts, websites, and social media channels. 

Is RoboForex Safe?

Yes! Investing in stocks with RoboForex is safe. Customer investments are held in separate bank accounts, preferably at AAA investment banks, and are available on a real-time basis. Moreover, the company protects its customers from having their negative balances compounded. If a client’s account goes negative as a result of the extreme market swings, the firm promptly restores the client’s negative balance to zero. Therefore, the most that a customer has to lose is their initial deposit. In the unlikely event of a disagreement between the company and investors, clients are protected up to 20,000 € according to the company’s membership in the Financial Services Commission Scheme (FSCS). Reimbursement for losses up to 5,000,000 EUR under the company’s Civil Liability Insurance policy in case of liquidation scenarios adds one more layer to the Roboforex safety framework. 

Bottom Line

RoboForex is a well-regarded brokerage firm offering various financial instruments, including stocks, forex, and CFDs. It is an excellent option for both novice and professional traders due to its solid regulatory setup, low latency rates, and investor protection scheme. The company is regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC), which ensures that traders’ funds are protected and that the company operates within a legal framework.

The company provides multiple account types to cater to different trader needs. The account types include Pro-Standard, Pro-Cent, ECN-Pro NDD, Prime, RStockTrader, and demo accounts. The Pro-Standard and Pro-Cent accounts have no commission fees and tight spreads, whereas ECN-Pro NDD, Prime, and RStockTrader accounts have commission fees with varying spreads. The RStockTrader account is designed to trade US and EU stocks, while the Prime account is ideal for high-volume trading.

RoboForex offers extensive training materials and educational resources to help traders learn and enhance their skills. These resources include video tutorials, webinars, eBooks, and articles. Traders can also practise trading using the demo accounts with virtual funds. Additionally, the company offers a third-party copy trading tool called CopyFX, which allows traders to copy the trades of successful traders automatically.

RoboForex has received positive customer feedback, with most of them praising the company for its competitive pricing, fast execution, and user-friendly platforms. However, some customers have criticised the company for its customer support and withdrawal process.

In conclusion, RoboForex is a reliable brokerage firm offering various financial instruments, account types, and educational resources to cater to individual trader needs. The company’s regulatory setup, low latency rates, and investor protection scheme make it a safe and trustworthy option for trading. Traders can access the company’s services through its user-friendly trading platforms, including MT4, MT5, and R Trader.