Are you looking for a reliable and reputable broker to start your trading journey? Look no further than Roboforex. With over 10 years of experience in the financial market, Roboforex has established itself as a leading online broker, providing access to a wide range of markets and instruments. In this blog post, we will take an in-depth look at Roboforex and its features, services, and offerings. So, let's dive into our Roboforex broker review.
Trading Platforms
Roboforex offers a variety of trading platforms to cater to the needs of different types of traders. These include MetaTrader 4, MetaTrader 5, and R Trader. Let's take a closer look at each platform.
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms in the industry, known for its user-friendly interface and advanced charting tools. It is suitable for both beginner and experienced traders and offers a wide range of technical indicators, customizable charts, and automated trading options. MT4 also allows traders to access the market through their desktop, web, or mobile devices.
MetaTrader 5 (MT5)
MT5 is the successor of MT4 and offers more advanced features and functionalities. It has a similar interface to MT4 but with additional tools such as depth of market, economic calendar, and more timeframes. MT5 also supports hedging, making it a preferred choice for many traders.
R Trader
R Trader is a web-based platform that offers access to a wide range of markets and instruments. It has a user-friendly interface, advanced charting tools, and customizable trading strategies. R Trader also offers a unique feature called "RoboScripts," which allows traders to create their own automated trading strategies without any coding knowledge.
Forex
With Roboforex, traders can access over 40 currency pairs, including major, minor, and exotic pairs. The broker offers competitive spreads starting from 0 pips and leverage of up to 1:2000 for professional clients.
Stocks
Roboforex offers CFDs on stocks from major global exchanges, such as NYSE, NASDAQ, LSE, and more. Traders can choose from over 9,400 stocks and benefit from low commissions and margin requirements.
Indices
Traders can also trade CFDs on popular stock indices, such as S&P 500, DAX 30, FTSE 100, and more. Roboforex offers competitive spreads and leverage of up to 1:200 for indices trading.
Commodities
Roboforex provides access to a wide range of commodities, including gold, silver, oil, natural gas, and more. Traders can benefit from low spreads and leverage of up to 1:100 for commodity trading.
Fees and Commissions
One of the essential factors to consider when choosing a broker is the fees and commissions they charge. Roboforex offers competitive pricing, making it an attractive choice for traders. Let's take a look at the fees and commissions for each market.
Forex
Roboforex charges zero commissions on forex trading and offers competitive spreads starting from 0 pips. The broker also offers a swap-free account option for Muslim traders who follow Shariah law.
Stocks
For stock trading, Roboforex charges a commission of 0.1% per side, with a minimum fee of $4. The broker also offers a dividend adjustment program, where traders can receive dividends on their long positions.
Indices
Similar to stocks, Roboforex charges a commission of 0.1% per side for indices trading, with a minimum fee of $4. Traders can also benefit from the dividend adjustment program for long positions on indices.
Commodities
Roboforex charges a commission of 0.01% per side for commodity trading, with a minimum fee of $10. The broker also offers competitive spreads starting from 0.01 pips for gold and silver.
Account Types
Roboforex offers a variety of account types to cater to the needs of different types of traders. These include Pro-Cent, Pro-Standard, ECN-Pro NDD, Prime, and R Trader accounts. Let's take a closer look at each account type.
Pro-Cent Account
The Pro-Cent account is suitable for beginner traders as it allows them to start with small deposit amounts and trade micro-lots. The minimum deposit for this account is only $10, and it offers leverage of up to 1:2000.
Pro-Standard Account
The Pro-Standard account is suitable for experienced traders who prefer fixed spreads. The minimum deposit for this account is $10, and it offers leverage of up to 1:2000.
ECN-Pro NDD Account
The ECN-Pro NDD account is designed for advanced traders who prefer low spreads and fast execution speeds. This account charges a commission of $20 per million traded and offers leverage of up to 1:300.
Prime Account
The Prime account is designed for high-volume traders who require deep liquidity and low spreads. It charges a commission of $15 per million traded and offers leverage of up to 1:300.
R Trader Account
The R Trader account is suitable for traders who prefer to trade on the web-based platform. It has a minimum deposit requirement of $100 and offers competitive spreads starting from 0 pips.
Customer Support
Roboforex takes customer support seriously and offers various channels for traders to reach out for assistance. These include live chat, email, phone, and social media. The broker also provides multilingual support in over 20 languages, making it accessible to traders worldwide.
Security and Regulation
When it comes to security, Roboforex ensures the safety of its clients' funds by keeping them in segregated accounts with top-tier banks. The broker also uses SSL encryption to protect personal and financial information. In terms of regulation, Roboforex is regulated by the International Financial Services Commission (IFSC) of Belize, ensuring that the broker operates with transparency and follows strict guidelines.
Education and Research
Roboforex offers a variety of educational resources and research tools to help traders improve their trading skills and make informed decisions. These include video tutorials, articles, webinars, and an economic calendar. The broker also provides daily market analysis and technical analysis reports to keep traders updated on the latest market trends.
Affiliate Programs
Roboforex offers two affiliate programs – CPA and Revenue Share. The CPA program allows affiliates to earn a one-time commission for each referred client who meets the minimum deposit requirement. The Revenue Share program offers a lifetime commission based on the trading activity of the referred clients.
RoboForex Pros and Cons
Pros:
Cons:
Conclusion
In conclusion, Roboforex is a reputable and reliable broker that offers a wide range of trading platforms, markets, and instruments. With competitive fees and commissions, multiple account types, and excellent customer support, Roboforex is an attractive choice for traders of all levels. However, it is essential to note that the broker's limited regulatory oversight may be a concern for some traders. Overall, our Roboforex broker review shows that the broker is a suitable option for those looking to start their trading journey or switch to a new broker.
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