RoboForex Regulation - Money Protection

RoboForex Overall rating

	Rating	Weight
User rating	4.6 (124 reviews)	3
Popularity	4.0	3
Regulation	2.0	2
Pricing rating	5.0	1
Features	Not rated	1
Customer Support	Not rated	1

We tested RoboForex using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

RoboForex, founded in 2009, is a well-established broker in the forex industry. It is regulated by the Belize Financial Services Commission (BZ FSC). Despite having a high user rating of 4.6 out of 5 based on user reviews, it ranks 61 in our forex brokers database.

RoboForex is a private company and does not publicly provide its financials. It does not hold a bank license. The broker receives a substantial amount of organic traffic, ranking 11th in this metric among forex brokers, with over 4 million visits monthly and a popularity rating of 5.0 out of 5.

While high regulation and popularity are significant indicators of a broker's reliability, it's essential to remember that even highly regulated firms can face challenges and failures in the financial industry.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
RoboForex Ltd	Belize - BZ FSC					2000 : 1

Deposit Insurance

RoboForex does not offer an investor compensation scheme under its current regulatory framework with the Belize Financial Services Commission. This means that if the broker were to fail, there would be no compensation for losses incurred by investors. It is crucial for traders to consider this aspect when choosing a broker, especially those who prioritize financial security and investor protection.

Spreads and Costs

RoboForex offers competitive spreads and costs, especially in the forex market, with an average spread of 1.39 pips. When compared to other industry-leading brokers, RoboForex's average spreads across various asset classes are in line or lower. This makes it an attractive option for traders looking for cost-effective trading solutions.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD). Data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Comparison to other Brokers

RoboForex stands out in several areas compared to other brokers. While it is regulated only by the Belize Financial Services Commission, it compensates with a high user rating of 4.6 out of 5 and a substantial amount of organic web traffic, ranking 11th in this metric among forex brokers.

Its competitive forex spreads, averaging 1.39 pips, and high leverage of up to 2000:1 make it an attractive choice for cost-conscious traders. However, it lacks the robust regulatory oversight seen with brokers like IC Markets and Pepperstone, which are regulated by multiple top-tier authorities.

RoboForex also does not publicly provide its financials and lacks an investor compensation scheme, which could be a concern for some traders. In terms of swap rates, RoboForex offers better than average conditions, which is beneficial for traders holding positions overnight.

Overall, RoboForex is a competitive broker but may fall short for those prioritizing extensive regulatory protection and financial transparency.

Trading Platforms - Mobile, Desktop, Automated

RoboForex offers several trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are available for desktop, mobile, and web. These platforms are well-known for their robust charting tools, comprehensive indicators, and automated trading capabilities through MQL4 and MQL5 programming languages.

MQL4 and MQL5 are relatively easy to learn and offer extensive online resources and community support, making it accessible for traders interested in developing and using automated trading strategies.

RoboForex also offers a proprietary platform (R Stocks Trader), which is accessible via mobile and web, and supporting automated trading via the app itself. This platform is user-friendly and suitable for traders looking to trade stocks and offers a straightforward trading solution without the need for automation.

What Can you Trade?

RoboForex offers a variety of asset classes, including 40 forex pairs, 12,000 stock CFDs, 4 stock index CFDs, and 26 commodities CFDs. The broker does not provide trading in cryptocurrencies, or bonds CFDs. All instruments offered by RoboForex are traded as CFDs, which means traders do not own the underlying assets.

Instead, they speculate on the price movements of these assets. CFDs allow traders to use leverage, amplifying both potential gains and losses. Leverage can be a powerful tool, but it also increases risk, so it is essential for traders to understand how it works and use it judiciously. For more detailed information on the instruments available for trading, visit the RoboForex instruments page.

Available Leverage

RoboForex offers a maximum leverage of 2000:1 for retail clients, which is significantly higher than the industry average. The actual leverage available to traders may vary depending on the regulatory entity under which their account is registered and the specific asset class being traded.

High leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the potential risk. Traders should carefully consider their risk management strategies when using high leverage.

Prohibited Countries

RoboForex does not accept clients from certain jurisdictions due to regulatory restrictions. These countries include the USA, Canada, Japan, Australia, and some others. For a complete list of prohibited countries, traders should refer to the RoboForex website or contact their customer support for more information.

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	2000:1		500:1		300:1
Mobile Platform	MT4 Mobile	MT4 Mobile, MT5 Mobile		Proprietary	MT4 Mobile
Trading platform	MT4, MT5, WebTrader			Proprietary	MT4, MT5, WebTrader
Spread Type	Variable Spread
Minimum Deposit	10			100	10
Minimum Trade Size	0.1	0.01		1	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	ProCent
Maximum leverage	2000:1
Typical Spread	1.53
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	10
Minimum Trade Size	0.1
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Pro
Maximum leverage	2000:1
Typical Spread	1.53
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	10
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	ECN
Commission	$20.00 Per 1 Million USD Traded
Maximum leverage	500:1
Typical Spread	0.43
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	10
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	500:1
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	300:1
Typical Spread	0.3
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	10
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

RoboForex Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

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