RoboForex is a global forex and CFD broker that has been in operation since 2005. The company is regulated by the CySEC (Cyprus Securities and Exchange Commission) and offers a wide range of trading platforms, accounts, and instruments. RoboForex is a popular choice for traders of all experience levels, and has won numerous awards for its services.
Pros
Wide range of trading platforms, accounts, and instruments: RoboForex offers three main trading platforms: MetaTrader 4, MetaTrader 5, and CopyFX. The company also offers a variety of account types to suit the needs of different traders, including Standard, Prime, Cent, and ECN accounts. RoboForex offers a wide range of trading instruments, including forex pairs, CFDs on stocks, indices, commodities, and cryptocurrencies, metals, and energy.
Competitive spreads and commissions: RoboForex offers competitive spreads and commissions on all of its trading instruments. The company's spreads start from 0 pips, and its commissions are some of the lowest in the industry.
Fast execution and withdrawal of funds: RoboForex offers fast execution of trades and withdrawal of funds. The company's trades are typically executed in milliseconds, and withdrawals are processed within 24 hours.
24/7 customer support in multiple languages: RoboForex offers 24/7 customer support in multiple languages. The company's customer support team is available to answer questions and provide assistance via live chat, email, and phone.
Extensive educational resources: RoboForex offers a wide range of educational resources to help traders learn about the markets and improve their trading skills. The company's educational resources include webinars, articles, and videos.
Cons
Limited regulation: RoboForex is regulated by the CySEC, which is a reputable regulator but not as strict as some other regulators, such as the FCA or the NFA.
No Islamic accounts: RoboForex does not offer Islamic accounts, which are accounts that are compliant with Sharia law.
High minimum deposit for some account types: The minimum deposit for some of RoboForex's account types is relatively high. For example, the minimum deposit for a Prime account is $1000.
Key Features
MetaTrader 4 and MetaTrader 5: RoboForex offers the MetaTrader 4 and MetaTrader 5 trading platforms, which are two of the most popular forex trading platforms in the world. These platforms are user-friendly and offer a wide range of features, including charting tools, technical indicators, and automated trading capabilities.
CopyFX: RoboForex offers CopyFX, a unique copy-trading platform that allows traders to automatically copy the trades of successful traders. This can be a great way for beginners to learn how to trade and for experienced traders to diversify their portfolios.
R StocksTrader: RoboForex offers R StocksTrader, its own proprietary trading platform. This platform is designed for traders who want a more advanced trading experience. R StocksTrader offers a number of features that are not available on MetaTrader 4 or MetaTrader 5, such as level 2 pricing and charting.
Pamm and MAM: RoboForex offers Pamm and MAM, which are two types of managed accounts. These accounts allow traders to invest in the portfolios of experienced traders. This can be a great way for traders to gain exposure to the markets without having to do their own research and trading.
Overall
RoboForex is a good choice for traders who are looking for a reputable broker with a wide range of services. The company offers competitive spreads and commissions, fast execution and withdrawal of funds, 24/7 customer support, and extensive educational resources. However, traders should be aware that RoboForex is not regulated by a top-tier regulator and does not offer Islamic accounts.
Here are some additional things to consider before trading with RoboForex:
Make sure you understand the risks involved in forex and CFD trading.
Do your research and choose a trading platform that is right for you.
Start with a small account and only trade with money you can afford to lose.
Use stop-loss orders to limit your potential losses.
Never trade under the influence of emotions.
Conclusion
RoboForex is a good choice for traders of all experience levels. The company offers a wide range of services to meet the needs of different traders. However, traders should be aware of the risks involved in forex and CFD trading before they start trading.
