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Roboforex review

RoboForex Review

RoboForex, founded in 2009, is a multi-award-winning Market Maker, STP, and ECN online broker that enables traders worldwide to trade over 9,400 trading instruments across different asset types, including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs, and CFDs. RoboForex is currently not regulated by the CBN.

Updated : July 20, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on RoboForex’s website

RoboForex at a glance:

🏛️ HeadquarteredBelize City
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2009
📱 Nigerian Office Contact NumberNone
⚖️ RegulationInternational Financial Services Commission (IFSC)
🔎License Number000138/210 and registration no. 128.572
⚖️ CBN RegulationNone
✴️ Regional RestrictionsUSA, Canada, Japan, Australia, Bonaire, Curaçao, the Democratic Republic of Timor-Leste, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, and other regions
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts5
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:2000
📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)4,100 Nigerian Naira
💳 Nigerian Naira Deposits Allowed?Yes, AstroPay
💰 Active Nigerian Trader Stats1.3 million
Active Nigerian-based RoboForex customersUnknown
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsBank Transfers, Credit Card, Debit Card, Cash and Vouchers, Bank Wire Transfer, Electronic payments such as Skrill, Neteller, and others
💰 Segregated Accounts with Nigerian Banks?No
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, RoboForex Terminals, CopyFX app

💰 Tradable AssetsForex, Stocks, Indices, Cryptocurrencies

🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish, Polish, Indonesian, Malayan, Portuguese, Spanish, Italian, Czech, Simplified Chinese, Vietnamese, and more.
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/7
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansYes
✴️Education for Nigerian beginnersYes
📊 Proprietary trading softwareYes
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️Is RoboForex a safe broker for Nigerians?Yes
✔️Rating for RoboForex Nigeria9/10
✔️Trust score for RoboForex Nigeria66%

RoboForex Overview

 

RoboForex overview

 

👉 RoboForex, founded in 2009, is a multi-award-winning Market Maker, STP, and ECN online broker that enables traders worldwide to trade over 9,400 trading instruments across different asset types, including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs, and CFDs.

 

👉 RoboForex utilizes eight liquidity providers (LPs) that provide tight spreads as low as 0 pips, fast execution, and leverage of up to 1:2000. RoboForex has more than 800,000 registered traders from 169 countries worldwide, making RoboForex a globally recognized entity.

 

👉 RoboForex offers the famous MetaTrader platform, the professional cTrader platform, and their own proprietary R Trader platform, all of which provide a pleasant trading experience and respond to the unique trading demands of individuals traders. Desktop, online, and mobile platforms are all accessible.

 

👉 This RoboForex review will provide Nigerian traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.

 

Distribution of Traders

👉 The distribution of traders for RoboForex is as follows:

➡️️​ Russian Federation – 18.33%

➡️️​ Brazil – 6.12%

➡️️​ Iran, Islamic Republic Of – 5.17%

➡️️​ Ukraine – 4.76%

➡️️​ United Kingdom – 4.21%

 

Popularity among traders who choose RoboForex

🥇 RoboForex is a global broker, but its market share is very small in Nigeria. However, RoboForex is still one of the Top 100 international brokers that welcomes Nigerian traders.

Regulation and Safety of Funds

 

Roboforex regulation

 

👉 RoboForex Ltd is well-regulated by the International Financial Services Commission (IFSC) in Belize under the license number 000138/210. RoboForex follows strict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies, in which all client’s identities must be verified and third-party payments or payments from unknown sources are not accepted, amongst other requirements.

 

👉 RoboForex Ltd is a member of a Compensation Fund that offers eligible clients up to €20,000 in client protection. In addition, RoboForex also has a Civil Liability Insurance program up to a maximum of 5 million EUR, including coverage against any fraud, errors, negligence, or any other risk of loss.

 

👉 RoboForex Limited has an execution quality certificate Verify My Trade (VMT), which proves that the broker complies with all requirements of the Financial Commission. RoboForex also offers negative balance protection which is applied to all retail investor accounts.

Account Types and Features

👉 RoboForex offers Nigerian traders a choice between five retail investor accounts that can be used to trade in live markets using real money. There is also the option for an Islamic Account offered to Muslim traders. Lastly, RoboForex offers a demo account that can be used for several purposes, offering traders a risk-free environment funded with virtual money.

 

👉 The live account options are:

➡️️​ RoboForex Nigeria Prime Account

➡️️​ RoboForex Nigeria ECN Account

➡️️​ RoboForex Nigeria R StocksTrader Account

➡️️​ RoboForex Nigeria ProCent Account

➡️️​ RoboForex Nigeria Pro Account

 

Prime Account

👉 The Prime Account offers traders some of the best trading conditions possible, suited to both forex markets and several other financial markets. The Prime account is like typical standard accounts and is seen as the entry-level account for beginner, intermediate, and professional traders with the following unique features.

 

Account FeatureValue
💻 Trading Platforms availableMetaTrader 4, MetaTrader 5, R StocksTrader, RoboForex Terminals
💰 Base Currency OptionsUSD, EUR, GOLD
💳 Minimum Deposit Requirement (₦)4,100 NGN or equivalent to either 10 USD, or EUR
💰 CommissionYes, $10 per million traded
📈 SpreadsFloating from 0.0 pips EUR/USD
✴️ Trade ExecutionMarket
🚀 Tradable Instruments28 Forex Pairs, Spot Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies
📈 Maximum Leverage Ratio1:300
📊 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume500 lots
📈 Stop-Out100%
💰 Cashback (Rebates) offered5% of overall commission
💰 Bonuses OfferedNo profit share or classic deposit bonus
💳 Free Fund WithdrawalYes
☪️ Islamic Account OptionNo
👉 One-Click Trading SupportedYes
🌐 Trading Account History Time Frame12 Months

 

ECN Account

👉 The Electronic Communications Network (ECN) account is suited to experienced traders who need the best order execution along with some of the best trading conditions.

 

Account FeatureValue
💻 Trading Platforms availableMetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, RoboForex Terminals
💰 Base Currency OptionsUSD, EUR, CNY, GOLD
💳 Minimum Deposit Requirement (₦)4,100 NGN or equivalent to either 10 USD, or EUR
💰 Commission$20 per million traded
📈 SpreadsVariable spread from 0.0 pips EUR/USD
✴️ Trade ExecutionMarket
🚀 Tradable Instruments36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies
📈 Maximum Leverage Ratio1:500
📊 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume500 lots
📈 Stop-Out40%
💰 Cashback (Rebates) offeredUp to 15% of RoboForex’s revenue
💰 Bonuses OfferedYes
💳 Free Fund WithdrawalYes
☪️ Islamic Account OptionNo
👉 One-Click Trading SupportedYes
🌐 Trading Account History Time Frame12 Months

 

R StocksTrader Account

👉 This is a specialized account that is suited for stock trading and investment, providing Nigerian traders exclusive access to the R StocksTrader proprietary trading platform.

Account FeatureValue
💻 Trading Platforms availableR StocksTrader
💰 Base Currency OptionsUSD, EUR
💳 Minimum Deposit Requirement (₦)41,500 Nigerian Naira first deposit
💰 CommissionUS Stocks ($10,000+ Deposit) – $0.009 p/share
US Stocks – $0.025 per share
US Stock CFDs – $0.02 per share
EU Stock CFDs – 0.07%$15 per 1 million base currency on forex
Variable commission on Indices
📈 SpreadsUS Stocks ($10,000+ Deposit) – from $0.01
US Stocks – from $0.01US Stock CFDs – from $0.01
EU Stock CFDs – from 0.0 PipsForex – from 0.0 pipsIndices – from 0.5 pips
🚀 Tradable InstrumentsOver 12,000 instruments across Indices, Individual Stocks, Stock CFDs, Forex, ETFs, Oil CFDs, Metal CFDs, Brazil Stock CFDs, Crypto
📈 Maximum Leverage RatioUS Stocks ($10,000+ Deposit) – up to 1:20
US Stocks – 1:2
US Stock CFDs – up to 1:20
EU Stock CFDs – up to 1:5
Forex – up to 1:300
Indices – 1:100
📊 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume500 lots
📈 Stop-Out20%
💰 Cashback (Rebates) offeredNo
💰 Bonuses OfferedNo
💳 Free Fund WithdrawalYes
☪️ Islamic Account OptionYes
👉 One-Click Trading SupportedNo
🌐 Trading Account History Time FrameNone

 

ProCent Account

👉 This account type is specifically designed to cater for novice traders as well as advanced traders who are testing trading strategies or Expert Advisors. This account is the first live trading account that traders can use once they are finished with the demo account and are ready to trade real money.

 

👉 This account is well-known as one of the best automated trading solutions that RoboForex offers, especially when it is used with proprietary mobile trading apps.

Account FeatureValue
💻 Trading Platforms availableMetaTrader 4, MetaTrader 5, R StocksTrader
💰 Base Currency OptionsUSD, EUR, CNY, GOLD
💳 Minimum Deposit Requirement (₦)4,100 NGN or equivalent to either 10 USD, or EUR
💰 CommissionNone
📈 SpreadsVariable spread from 1.3 pips EUR/USD
🚀 Tradable Instruments36 Forex Pairs, Precious Metals, Cryptocurrencies
📈 Maximum Leverage Ratio1:2000
📊 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume10,000
📈 Stop-Out10%
💰 Cashback (Rebates) offeredUp to 1.5% of RoboForex’s revenue
💰 Bonuses OfferedYes, Profit Share (60%), Classic Deposit (120%)
💳 Free Fund WithdrawalYes
☪️ Islamic Account OptionYes
👉 One-Click Trading SupportedYes
🌐 Trading Account History Time Frame1 year

 

Pro Account

👉 This account type should not be confused with a Professional Account. The Pro Account is the next level up from the Cent Account, allowing traders to transition into standard trading conditions.

Account FeatureValue
💻 Trading Platforms availableMetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, RoboForex Terminals
💰 Base Currency OptionsUSD, EUR, CNY, GOLD
💳 Minimum Deposit Requirement (₦)4,100 NGN or equivalent to either 10 USD, or EUR
💰 CommissionNone
📈 SpreadsVariable spread from 1.3 pips EUR/USD
🚀 Tradable Instruments36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies
📈 Maximum Leverage Ratio1:2000
📊 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume500
📈 Stop-Out20%
💰 Cashback (Rebates) offeredUp to 15% of RoboForex’s revenue
💰 Bonuses OfferedYes, Profit Share (60%), Classic Deposit (120%)
💳 Free Fund WithdrawalYes
☪️ Islamic Account OptionYes
👉 One-Click Trading SupportedYes
🌐 Trading Account History Time Frame1 year

 

Islamic Account

roboforex islamic account

 

👉 RoboForex has a dedicated Islamic Swap-Free account type. Instead of the swap, owners of Swap-Free accounts pay a predetermined forex fee that is determined only by the currency pair and the number of open lots, not by the issuing banks’ interest rates.

👉 Swap-free accounts were designed specifically for customers of the Muslim faith who are prohibited from trading using swaps under Sharia law. Muslim traders interested in this account can only register and convert Cent, R StocksTrader and Pro Accounts.

 

👉 The commissions that Muslim Traders can expect will depend on the financial instrument that they trade, with certain groupings indicated on the official RoboForex website.

 

Demo Account

RoboForex demo account

 

👉 The RoboForex demo accounts mimic the trading conditions of their live counterparts without exposing traders to the risk of loss. With RoboForex, traders can use demo accounts across all trading platforms and financial markets offered by the broker.

 

👉 The RoboForex Demo accounts differ from those using real money in that they provide traders virtual funds that can be used to trade live market conditions. The demo account is one of the most powerful tools available for practice trading and testing strategies and Expert Advisors.

Account Registration

RoboForex account registration

 

👉 The process involved with registering a RoboForex account is extremely simple. Nigerian traders can visit the official website of RoboForex, select the option to register and complete a short online registration form.

 

👉 Once traders log into their Members Area, they can apply for a live trading account, during which Nigerian traders must provide personal, financial, and employment information, complete a trading experience questionnaire and upload proof of identification and residential address.

 

👉 Once the RoboForex team has reviewed the information and documents, the account can be approved, and Nigerians can deposit the minimum deposit to start trading.

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on RoboForex’s website

RoboForex Vs Exness Vs JustMarkets – Broker Comparison

RoboForexExnessJustMarkets
⚖️ RegulationIFSCFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCAFSA
📱 Trading PlatformMetaTrader 5
MetaTrader 5
cTrader
R StocksTrader
RoboForex Terminal
CopyFX App
MetaTrader 4
MetaTrader 5
MetaTrader 5
MetaTrader 4
ZuluTrade
JustMarkets App
💰 Withdrawal FeeYesNoNo
📊 Demo AccountYesYesNo
📈 Minimum Deposit4,100 NGN4,100 NGN400 NGN ($1)
📈 Leverage1:2000UnlimitedUp to 1:3000
📊 Spread0.0 pipsVariable, from 0.0 pipsFrom 0.0 pips
💰 Commissions$3 to $4From $0.1 per side, per lot3 base currency units per lot/side
✴️ Margin Call/Stop-OutStop-out 100% to 10%60%/0%40%/20%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusYesNoYes
📊 Cent AccountsNoYesYes
📈 Account TypesRoboForex Prime Account
RoboForex ECN Account
RoboForex R StocksTrader Account
RoboForex ProCent Account
RoboForex Pro Account
Standard Account
Standard Cent Account
Raw Spread Account
Zero Account
Pro Account
MetaTrader 4 Standard Cent Account
MetaTrader 4 Standard Account
MetaTrader 4 Pro Account
MetaTrader 4 Raw Spread Account
MetaTrader 5 Standard Account
MetaTrader 5 Pro Account
MetaTrader 5 Raw Spread Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsYesYesYes
📊 Nigerian Naira AccountNoNoNo
👥 Customer Service Hours24/724/724/5
📊 Retail Investor Accounts557
☪️ Islamic AccountYesYesYes

Trading Platforms

RoboForex trading platforms

 

👉 RoboForex is inherently known for its vast selection of powerful, innovative trading platforms including:

 

➡️️​ MetaTrader 4 is the most popular trading platform that offers 50 built-in technical indicators, technical analysis, basic tools and graphical objects, Expert Advisors, and advanced charting capabilities.

 

➡️️​ MetaTrader 5 is the next-gen solution to MetaTrader 5 that provides four order execution types, multi-currency testers, additional technical indicators, MQL5 programming language and a helpful online community.

 

➡️️​ cTrader is another popular trading platform that is suited toward the trading objectives of experienced traders, providing fast execution speeds and trading strategies.

 

➡️️​ R StocksTrader is the proprietary platform of RoboForex that provides more than 9,400 financial instruments that can be traded, comprehensive technical analysis, market depth, multiple chart layouts, forex market news, and more.

 

➡️️​ RoboForex Terminals are available on both mobile devices and the web, offering additional capabilities and functions to help traders refine their trading.

 

➡️️​ CopyFX platform is a proprietary mobile platform that allows Nigerian traders to copy the trades of successful traders automatically to their trading account. CopyFX is one of the best social trading platforms that offer a transparent rundown of the best trading signal providers according to their profitability, how long they have been trading, and their maximum drawdown.

 

Range of Markets

👉 RoboForex offers a wide range of financial instruments that are spread across these asset types:

➡️️​ Over 40 Currency pairs spread across forex major currencies, minor currency pairs, and exotic pairs.

➡️️​ Over 12,000 Stock CFDs

➡️️​ Indices

➡️️​ Exchange-Traded Funds (ETFs)

➡️️​ Soft Commodity ETFs such as Cocoa, Coffee, Corn, Wheat, and others.

➡️️​ Precious Metals

➡️️​ Energy ETFs and CFDs

➡️️​ 16 Cryptocurrency CFDs

Trading and Non-Trading Fees

RoboForex Deposit And Withdrawal

 

Spreads

👉 As part of its overall trading costs, the variable spreads that Nigerian traders can expect from RoboForex will be determined by the account type they use, the financial instrument they trade, and the market conditions on the trading day. Typical spreads that traders can expect according to account type on EUR/USD is as follows:

➡️️​ Prime Account – from 0.0 pips

➡️️​ ECN Account – 0.0 pips

➡️️​ R StocksTrader Account – from $0.01

➡️️​ ProCent Account – from 1.3 pips

➡️️​ Pro Account – from 1.3 pips

 

Commissions

👉 The commissions that traders can expect are charged on the ECN and the Prime Accounts. While commissions are charged at $10 per million traded on the Prime account, Nigerian traders can expect commissions of $20 per million traded on the ECN Account.

 

👉 In addition, Muslim traders who use the Islamic account can expect commission charges according to the financial instrument that they trade and subsequently hold open. These charges range from $2 up to $20 on Forex and metals, $0.1 to $12 on CFDs, and $0.50 to $30 on Stock CFDs.

 

Overnight Fees, Rollovers, or Swaps

👉 The overnight fees that RoboForex charges will depend on the position size, the position that traders hold, the market conditions, and the financial instrument that is being traded. Some average overnight fees on EUR/USD includes a short (sell) swap of -0.08 and a long (buy) swap of -0.679

 

Deposit and Withdrawal Fees

👉 RoboForex does not charge any deposit fees, but the following withdrawal fees are charged:

➡️️​ ThunderX, Shop2Pay, Eximbank, TPBank, Maritime bank, Agribank, Asia Commercial Bank, BIDV, VIB, Techcombank, VietinBank, Vietcombank, Bank Transfer (SEPA) – 1.5%

➡️️​ Local Bank Transfer – up to 4%

➡️️​ AstroPay – 0.5%

➡️️​ Skrill – 1%

➡️️​ Neteller – 1.9%

➡️️​ Perfect Money – 0.5%

➡️️​ AdvCash – 1%

➡️️​ Debit and Credit Cards – 2.6% + 1.3 USD or 1 EUR

RoboForex Broker Comparison for Range of Markets

RoboForexExnessJustMarkets
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsNoYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesNoYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesNoYesYes
➡️️​ BondsNoNoNo

Deposits and Withdrawals

RoboForex Deposit And Withdrawal

 

👉 RoboForex supports the following deposit methods and withdrawal options:

➡️️​ Bank Payments (USD, BRL)

➡️️​ Boleto (USD, BRL)

➡️️​ Santander Rio (USD)

➡️️​ Bancolombia (USD)

➡️️​ PSE (USD)

➡️️​ China UnionPay (CNY)

➡️️​ Banco Do Brazil (USD)

➡️️​ Bradesco (USD)

➡️️​ ITAU (USD)

➡️️​ Webpay (USD)

➡️️​ Spei (USD)

➡️️​ ThunderX (QR-Code) (THB, LAK, MMK, KHR)

➡️️​ Shop2Pay (QR-Code) (THB)

➡️️​ Eximbank (VND)

➡️️​ TPBank (VND)

➡️️​ Agribank (VND)

➡️️​ Maritime Bank (VND)

➡️️​ Asia Commercial Bank (VND)

➡️️​ BIDV (VND)

➡️️​ VIB (VND)

➡️️​ Techcombank (VND)

➡️️​ VietinBank (VND)

➡️️​ Vietcombank (VND)

➡️️​ TED/DOC (BRL)

➡️️​ Bank Transfer (SEPA) (EUR)

➡️️​ Local Bank Transfer (MYR)

➡️️​ AstroPay (AED, AUD, BRL, CLP, CNY, EUR, GBP, IDR, INR, JPY, MXN, MYR, NGN, THB, USD, VND)

➡️️​ Skrill (USD, EUR)

➡️️​ Neteller (USD, EUR, MYR, IDR, AED, PLN)

➡️️​ Perfect Money (USD, EUR)

➡️️​ AdvCash (USD, EUR, UAH, BRL, GBP, KZT)

➡️️​ Nganluong Wallet (VND)

➡️️​ China UnionPay Bank Card (CNY)

➡️️​ VISA, MasterCard, JCB (USD, EUR, CHF, GBP, PLN, CZK, UAH, CNY, MYR, KZT)

➡️️​ Cash and Vouchers (USD) including efecty, Davivienda, Almancense Éxito, Carulla, Edeq, Surtimax, Pago Facil, Rapi Pago, ServiPag, Red Pagos, Banorte, Bancomer, OXXO, Pago Efectivo

➡️️​ Western Union (USD)

 

Process to Withdraw Funds from a RoboForex Account

👉 To withdraw funds from a RoboForex Account, traders must first ensure that their account has been verified and approved, then follow these steps:

 

➡️️​ Traders can log into their RoboForex Members Area and navigate to “Withdraw Funds”.

 

➡️️​ Traders must ensure that the active account in the Members Area is the one that they want to withdraw funds from.

 

➡️️​ Traders can select their preferred payment method from the list provided.

 

➡️️​ Traders can select “Go To”.

 

👉 Traders may be subject to providing additional information depending on the payment method that they selected. This can be done on the next page of creating a withdrawal request. Traders must note that all withdrawal requests are processed by the broker in two business days, from 9 am to 6 pm (EET).

Education and Research

RoboForex education

 

👉 The educational resources and tools that RoboForex offers Nigerian traders include the following:

➡️️​ Guides on Account Opening and Trading

➡️️​ Educational Videos

➡️️​ FAQ Section

 

👉 The research tools offered for advanced traders include:

➡️️​ Forex Analysis and Forecasts

➡️️​ RoboForex Analytics Centre

➡️️​ Economic Calendar

➡️️​ Blog

➡️️​ R StocksTrader Strategy Builder

➡️️​ Trading Calculators

➡️️​ Financial Charts

➡️️​ Trading Tips

➡️️​ Expert Advisors

➡️️​ Changes in Trading Schedule

➡️️​ CopyFX

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on RoboForex’s website

Bonuses and Promotions

👉 RoboForex offers a wide range of bonuses and promotions including:

 

➡️️​ Promotion to the value of $1.1 million to celebrate 11 years of RoboForex

➡️️​ Welcome Bonus

➡️️​ Profit Share Bonus

➡️️​ Classic Bonus

➡️️​ Cashback (rebates)

➡️️​ Up to 10% back on trading accounts

RoboForex Affiliate Program

RoboForex Affiliate

 

👉 RoboForex offers a comprehensive affiliate program that provides partners with up to 84% profits, with instant partner commission of up to 74%, and a loyalty program of up to 20% of the overall partner commission.

 

👉 RoboForex offers a helpful real-time calculator on the official website where prospective partners can calculate their commission according to the number of clients they have. RoboForex reports a total VIP program commission of 4,724.2 USD.

 

👉 All RoboForex professional accounts can become eligible for revenue share of up to 50% while Affiliate accounts can earn up to 70%, and R StocksTrader accounts can earn revenue share up to 50%.

 

👉 The benefits associated with the RoboForex affiliate program are as follows:

➡️️​ There are no pay-out limits and no restrictions on the maximum payments per month or per client.

➡️️​ RoboForex offers daily payments.

➡️️​ There are no deal restrictions, and all trades are paid out without any limits.

➡️️​ There are no restrictions on bonuses in terms of trading volumes.

➡️️​ Partners have access to 24/7 customer support.

➡️️​ There are simple analytics offered regarding attracted clients in real-time.

 

👉 In addition, the loyalty program offered by RoboForex helps partners increase their overall profit by up to 20%. The program implies that all partners can be eligible to an additional percentage of the overall sum of commission received according to monthly results.

➡️️​ If the partners profit is between $100 to $500, they receive 10% or up to $50

➡️️​ If the partners profit is between $500 to $30,000, they receive 15% or up to $4,500

➡️️​ If the partners profit is over $30,000, they receive 20% starting from $6,000

 

👉 In terms of mark-up client accounts, partners can boost their profit by 2.5x by 50% on pro accounts and up to 70% on affiliate accounts. In addition, partners can receive multi-level commission when they choose the VIP or Expert program.

 

👉 The VIP program has two levels while the Expert program has up to 5 levels. In terms of the VIP program, partners can receive affiliate commission up to 70% on the first level and 10% of the commission received by sub-partners on the second level.

 

👉 In terms of the Expert program there is a multi-level commission as follows:

➡️️​ 1st Level – 35% of RoboForex’s revenue

➡️️​ 2nd Level – 20% of sub-partner commission

➡️️​ 3rd Level – 15% of sub-partner commission

➡️️​ 4th Level – 12.5% of sub-partner commission

➡️️​ 5th Level – 10% of sub-partner commission

Verdict on RoboForex

👉 Overall, in the RoboForex review based on research in Nigeria, the broker is a suitable candidate for beginner and professional traders despite their trading styles or trading objectives. RoboForex is an offshore broker, but it is reputable in the forex industry and offers versatile trading conditions.

 

👉 RoboForex is an international broker focussed on ensuring that traders’ needs can be met and that all traders have access to a fair, transparent, and safe trading environment where their client funds are protected and where they have the tools, resources, and assistance to add a competitive edge to their trading.

RoboForex Pros and Cons

✔️ Pros❌ Cons
Offers a massive range of tradable instruments across financial marketsUnited States clients, and some other regions, cannot register with RoboForex
Provides professional yet user-friendly trading platformsThere are no fixed spread accounts offered
Low initial deposit requirement on all account typesThere is no FCA, CySEC, FSCA, or other regulation with popular market regulators
There are several flexible account types with competitive trading conditions and transparent trading costsOffshore broker with offshore regulation
Offers a vast range of research tools to experienced tradersMarket Maker forex broker that can benefit from the losses of clients
Award-winning broker that ensures client fund protectionInactivity fee may apply to dormant accounts
Negative balance protection applied to all account typesWithdrawal fee charged on several payment options
RoboForex has obtained Verify My Trade, proving trade execution speeds
Comprehensive social trading platforms offered

Frequently Asked Questions

 

Which trading platforms are supported by RoboForex?

RoboForex supports the use of: MetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, RoboForex Terminals, CopyFX

Does RoboForex offer leverage and what is the maximum ratio offered?

Yes, RoboForex offers maximum leverage up to 1:2000.

Is RoboForex regulated and by whom?

Yes, RoboForex is regulated by the International Financial Services Commission (IFSC) in Belize.

Is RoboForex suitable for beginner and professional traders?

Yes, RoboForex offers ideal solutions that accommodate novice traders and professional traders despite their trading objectives or trading styles.

What is the overall rating for RoboForex out of 10?

The overall rating for RoboForex is 7/10.

 

9.7/10 - (12 votes)

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