RoboForex Review

2.473 · 158 REVIEWS

RoboMarkets Ltd

Updated: Nov 26, 2020 · RoboForex.com  · Is this your company?

RoboForex is a forex broker. Robo Forex offers the MetaTrader 4, MetaTrader 5, MT Mobile and cTrader forex online trading top platforms. RoboForex.com offers over 30 currency pairs, cryptocurrencies, stocks, indices, gold, silver, commodities and cfds for your personal investment and trading options.

RoboForex
Related websites include RoboMarkets.com.
RoboForex Ltd is an international broker regulated by the IFSC, license No. IFSC/60/271/TS.
RoboMarkets Ltd (ex. RoboForex (CY) Ltd) is a European broker regulated by the CySEC, license No. 191/13.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 2000:1
Minimum to Open Live: $10
Established: 2009
Address: 2118 Guava Street, Belama Phase 1, Belize City, Belize
Contact: info@roboforex.com, +65 3158 8389
Regional offices:
Regulators: IFSC #000138/107
Prohibited countries:
Trading platforms: MT4, MT5, cTrader, WebTrader, Mobile Trader, R Trader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (30+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (60+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
CopyTrading: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, ePayments, FasaPay, Neteller, PaySec, Poli, Qiwi, Skrill, UnionPay, WebMoney
Withdrawal Methods: Bank Wire, VISA, MasterCard, ePayments, FasaPay, Neteller, PaySec, Poli, Qiwi, Skrill, UnionPay, WebMoney

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RoboForex.com profile provided by Manager RF Song, Jun 12, 2013

































































Company

RoboForex LP

Founded in

2009

Online since

2010

Account Types

Cent, Standard, ECN

Demo platforms



  • MetaTrader 4


  • MetaTrader 5


  • cTrader



Account currencies

Euro

Russian rouble

United States dollar

Currency pairs

up to 47 currency pairs, Gold/Silver

Regulated by

CySEC, 191/13

FSCL (New Zealand), 4148

FSP (New Zealand), 246525

Website available in

English, Russian, Chinese, Spanish, Portuguese, Indonesian

Minimum Deposit

No minimum deposit for all types of accounts

Support methods

Email

Live chat

Office

Phone

Skype

Web form

Trading server time zone

EET

VPS for traders

Free for deposits greater than $300.

Rebates per 1 std. lot

$1-3

Special notes

Swap-free (Islamic) accounts involve paying commission of $5-20 per one standard lot.

Video

Your company video here? Contact ad sales

2.473 · 158 REVIEWS
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Traders Reviews

Dublin, Ireland,
Jun 24, 2019,
Registered user

Terrible, Unethical, SCAM

Service use: Other

Notice to all traders , who is attending to this page. RoboForex is a scam company . Before starting trading with them . Always check company address . First address in the middle of Slum:
(2118 Guava Street, Belama Phase 1, Belize City, Belize) use google map. Link : https://www.google.ie/maps/place/2118+Guava+St,+Belize+City,+Belize/@17.5110328,-88.2205165,848m/data=!3m1!1e3!4m5!3m4!1s0x8f5c59a4502c3443:0x40d92802fcaa2ff8!8m2!3d17.5107397!4d-88.2198098

On the offisial web page they do have two diferent addresses is well .
Check them on Goodle map is well - surprise . After some quick check . I desited to not trade with that broker. Personaly I do not understand how they can be regulated in Cyprus. Please ckeck that two picture , that is links : https://www.google.ie/maps/place/RoboMarkets/@34.6903484,33.0736757,3a,75y,90t/data=!3m8!1e2!3m6!1sAF1QipOqi_2TssEqABK7S_k3--NsvEHtHs-8hEbDXphr!2e10!3e12!6shttps:%2F%2Flh5.googleusercontent.com%2Fp%2FAF1QipOqi_2TssEqABK7S_k3--NsvEHtHs-8hEbDXphr%3Dw203-h360-k-no!7i2988!8i5312!4m5!3m4!1s0x14e7334f3d317d65:0x7549b402729c36e7!8m2!3d34.6903484!4d33.0736757
First picture November 2017 with no logo RoboForex.
Secound link : https://www.google.ie/maps/place/RoboMarkets/@34.6903484,33.0736757,3a,96.8y,90t/data=!3m8!1e2!3m6!1sAF1QipNe4TP2gbZy8toGKb0rEqKD5WCIrLqJOP-bPZW7!2e10!3e12!6shttps:%2F%2Flh5.googleusercontent.com%2Fp%2FAF1QipNe4TP2gbZy8toGKb0rEqKD5WCIrLqJOP-bPZW7%3Dw360-h202-k-no!7i1067!8i600!4m5!3m4!1s0x14e7334f3d317d65:0x7549b402729c36e7!8m2!3d34.6903484!4d33.0736757
Secound picture May 2015 - and we can see logo of the company RoboForex.

I prosume that explaines evrething !!!!

Scam ---- Stay Away
  1 trader has found this review helpful
Reply by Manager RF submitted Jun 27, 2019:
Dear Ned15,

RoboForex Ltd is an international forex broker, regulated by the IFSC, license IFSC/60/271/TS. RoboForex Ltd has a special International Financial Services Commission Belize brokerage license, "Trading in financial and commodity-based derivative instruments and other securities". https://www.ifsc.gov.bz/?page_id=2319
Legal address: No. 1 Orchid Garden Street, P. O. Box 445, BELMOPAN, Belize, C. A.
Business address: 2118 Guava Street, Belama Phase 1, Belize City, Belize

RoboMarkets Ltd is a European broker, regulated by the CySEC, license No. is 191/13. The Cyprus Securities and Exchange Commission (CySEC) is the financial regulatory agency of the Republic of Cyprus and a member of the European Securities and Markets Authority (ESMA). Previous name "Roboforex (CY) ltd" was changed to "Robomarkets ltd". https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/37606/
Legal address: 4 Modestou Panteli, office 005, Mesa Geitonia, PC 4003, Limassol, Cyprus
Business address: Promachon Eleftherias, 19, Limassol 4103, Cyprus (previous Business address: 28 October Ave 377, Limassol 3107, Cyprus)

Both companies are parts of RoboMarkets/RoboForex Group.

Regards,
RoboForex
Daveyton, Benoni, South Africa,
Jun 13, 2019,
Registered user

Best broker so far

Service use: Live

Length of use: 3-6 Months

Hi, I'm Innocent n I've been trading with Roboforex for the past six months, I'm super happy with their services due to the following thing...

- Top notch technology: they company's website n systems are very advanced n they are easy to use

- Quick Withdrawals: ever since I started trading with this company I have withdrawn money multiple times but I've never waited for my money for more than 30 minutes, in most cases it takes lees than 5 minutes for my funds to be withdrawn...

- Excellent Client support: their client support is excellent even though at some point they take a few minutes to respond to messages but I guarantee you, if you have valid problem, you won't leave the conversation with your problem unsolved...

Well I'm impressed and I'm looking forward to working with this company for as long as it exists...

Amen...
  1 trader has found this review helpful
cairo, Egypt,
May 11, 2019,
Registered user

worst broker i have ever seen , i will share my story with roboforex to know with who will trade and send your money , they will do anything to take

worst broker i have ever seen . i will share my story with you to know what happend with me

my account number : 5008888
trade number : 29823792

08 may 2019 at 04:45:26 am i put pending order on GBPNZD at 1.9850 " BUY " .. roboforex open this order at 1.9998 significant slippages " 148 pips " . and gbpnzd down - and i lose all my account

i talk with support in chat live told me open ticket and dealing room will answer to you and this is what i got from dealing room replay

2019/05/10 19:27:56 - #3 Brokerage Support
As we explained before, it is important to understand that significant slippages may occur when trading close to the news events.

when i asked for call from live support No one has called me yet
 
Reply by Manager RF submitted May 16, 2019:
Dear bodafx,

As we can see, a detailed analysis of this situation was provided to you in the ticket you wrote. The Buy Stop order was executed correctly given the market conditions last Wednesday.

In regards to your comment about the call, please rest assured that our colleagues will contact you shortly to discuss any other questions you may have.

Regards,
RoboForex
Dubai, United Arab Emirates,
Apr 22, 2019,
Registered user

Stay on your toes.

Further to my review below, and in response to roboforex representative.

1. I do not care how you determine your swaps. I do not trade with your liquidity provider. I trade with Robo-forex. Changing swaps 13 minutes before rollover is not an acceptable practice. I suggest you take the issue up with your LP because they are making you look very bad.

2. I took my funds commission free because I found a way to meet your unreasonable trade volume requirements. That does not excuse the issue.

Apr 18, 2019 - 2 Stars I have been involved with Roboforex on and off for about 2 or 3 years now. I have been relatively happy with them until recently when I had a very unpleasant experience, in which they fell short of my expectation.

1. Last Friday night they adjusted their swap rates, which is well within their rights, however, they purposefully elected to this 13 minutes before the rollover period (and market closure for the weekend). I was carrying significant USDCHF shorts which had a carry cost of about 25 euro / day. They pumped that up to 5 fold to 125 euro. I was forced to either pay up or close my positions with no choice of timing or spreads which resulted in significant cost to me. Any reasonable broker would adjust their swaps early in the trading day in order for the trader to make an informed choice when he decides to execute the trade.

2. After the change in swaps, I decided to withdraw my capital as I have no interest in trading anything else and they made the USDCHF too expensive for me to trade. 4.2% withdrawal fee on my capital. They refer to the following clause in the T & C: -

"13.15 The Company reserves the right to deduct from the account an amount paid to the client in compensation, if the account does not embrace sufficient trade volume"

According to Them, in order to withdraw 8000 euro, I would need to trade 33.6 standard lots.

Given the fact that they have changed their trading conditions (swaps) I view it as my right to withdraw all my funds. Their insistence on 33.6 lots of trading in order to withdraw 8000 euro amounts to an irresponsible enticement to trade when it may not be in the traders interest.

Moreover, the withdrawal was done on the 3rd Tuesday of the month which they advertise the free of charge (normal fee is 1.9%). Assuming I give them the benefit of the doubt, it means that on any other day they would have charged me a little over 6% for my withdrawal to Neteller. Frankly that is pure highway robbery and any broker that charges so excessively should be avoided.

Reply by Manager RF submitted Apr 22, 2019 Dear Client,



The values ​​of swaps are not set by the broker but by liquidity provider of the broker. The broker pays swaps to liquidity provider in accordance with the current trading conditions. So, in case the liquidity provider is changing swaps, the broker has to immediately make its own trading conditions equal to the liquidity provider's conditions.

Thus, the currency pair was changed as soon as the liquidity provider informs the Company.



Regarding the commission for withdrawal, as we see, the commission was not charged from you and the additional requirements to withdraw for free were implemented to you.



Regards,

RoboForex
 
santo domingo, Dominican Republic,
Apr 15, 2019,
Registered user

scams

acount number: 282913

avoid them
  Do not lose your money with the broker.
When you have problems, roboforex never admit that it was your mistake even with the evidence you have.

try 3 consecutive times to close my eurusd operation with earnings of approx. 200 US $ the failed attempts and the transactions instead of being closed doubled. of 3 batches step up to 24 batches.

i contacted your agent, this ordering that close by another method, webtrader but already accumulated losses of 648 dollars.

the funds were never returned.
This broker is not complete, they are swindlers.
avoid them
Forget your incredible bonuses, that this is the trap for you to enter.
 
Reply by Manager RF submitted Apr 19, 2019:
Dear Client!
Your situation was examined scrupulously. As we mentioned at the answer to you, we have checked everything with our specialist and with Metaquotes team. There were no technical problems with the trading platform of Metaquotes. Al this orders were sent by you due to misclicks, because the buttons of closing position and add new are next to each other.

Regards,
RoboForex
uk, United Kingdom,
Apr 11, 2019,
Registered user

AVOID.. you WILL loose all your money. even with excellent risk management.

AVOID !!

where to start .... i haven been with this broker for 3 months, and built my account very well until it was over 3 times the deposited amount. then a few days ago i up my risk progressively with each trade, risking the previous trades profits ... i managed to make 91,000 euros in one day! that evening my account was frozen, and then later the 91,000 euros was removed from my account! they claimed that i used to 'vulnerability in hardware' so that they wanted me to remove my remaining funds from the account ..

today at the switch over at 10:00 pm (BST) i had a short open on GC. and suddenly GC shot up by 183,000 pips ... yes, you read that right .. 183,000 pips !! price on GC went to 20.08805 in a split second (with an equally large spread) it was doing this up and down for a good 5 minutes. this time I lost all my money in my account and put my account at -183,960.15 Euros!

this broker is a total joke, communication is pretty much ZERO. and they are probably the biggest scammer out there .. they are not regulated by the FCA .. their regulator has a reputation for enforcing rules (back handers going on, payoffs ect.)
  2 traders have found this review helpful
Reply by Manager RF submitted Apr 15, 2019:
Hello!

The funds revoked from your account was made by you with violation of client agreement which were clearly explained at the answer on your ticket to company.
The price at GBPCAD mentioned by you was declared by Company as non market - incorrect. Solution of your situation regarding issue with price of GBPCAD will be provided at you ticket.

Regards,
RoboForex
DHAKA, Bangladesh,
Mar 23, 2019,
Registered user

Hi
Sir

i m Zakir Hossain, Account Number: 5212520, broker name roboforex.com

I took a buy entry on GBPNZD at 21:10 for the last 21/02/2019,

Whose SL-1.8923, and TP-1.9390 were

I do not go to the market at my side and go to the market,

But the broker has hit my SL,

I have given evidence to the broker, they are not giving importance to the matter,

I request you to investigate your case

Pof Have added
  1 trader has found this review helpful
Morocco, Morocco,
Mar 8, 2019,
Registered user

This broker is scam. My buy stop order was executed and stopped with a huge gap resulting my account completely whipped. I wrote to them about this issue, at first they told me the order was executed correctly, I asked to check my account. They replied to me that things like this happened.
I asked for compensation no response from them...big scam

Mar 7, 2019 - 1 Star I worked with them for a while and notice my orders were executed with some minors gaps. When i asked for explanation their chat service told me it's perfectly normal. Just few days ago an important pending order was executed and stopped with a huge gap resulting the loss of my entire account. I wrote to their service department No response. All my money gone and they went silent...
Avoid this broker at all costs
 
South Africa,
Feb 17, 2019,
Registered user

This broker is a scam I noticed when I was trading and they move my order to a loss when I was in profit twice.I also requested a withdrawal last week up to this day I have not recieved my funds they keep telling stories while the 1st withdrawal wa fast....I am going to report this broker to the regulator until they take away its lisence.

Scam broker dont trade with them please
 
Reply by Manager RF submitted Feb 19, 2019:
Dear Mr FX trader,
Did you contact with customer service? Can you please specify your trading account number? The company does not move clients` orders and makes withdrawals according to the clause 13.14 of Client Agreement.

Regards,
RoboForex
Bulgaria,
Feb 10, 2019,
Registered user

I immediately contacted the chat but started typing there, writing this, writing that. And no one gave me an explanation why my positions were open with a different leverage from the one I trade. FRAUD
 
Reply by Manager RF submitted Feb 14, 2019:
Dear client, please write your request to info@roboforex.com (please specify your account number and position numbers) for receiving explanations.

Regards,
RoboForex

Frequently Asked Questions

Is Roboforex a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if RoboForex is a good broker. https://www.forexpeacearmy.com/forex-reviews/7374/roboforex-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Robo Forex community discussions: https://www.forexpeacearmy.com/community/tags/roboforex.

How do I get Roboforex bonus?

RoboForex offers a welcome bonus. To receive this bonus:

  • Open an account. Bonus funds are available for cent and standard MT4/MT5-based accounts with USD or EUR as a base currency.
  • Verify your account. Pass the simple verification procedure of your identity, address, and phone number in your Members Area.
  • Deposit funds to your account. Deposit at least 10 USD to your account via a bank card.

Does RoboForex allow scalping?

RoboForex allows scalping as well as news trading and expert advisor trading.

Is RoboForex a market maker?

RoboForex combines 2 business models, market maker and Straight Through Processing (STP).

  • Market Maker model applies to all cent accounts. That is RoboForex Ltd serves as a market maker, i.e. the other party of the transaction. This is due to the terms of the liquidity provider, which does not allow transactions fewer than some specific volume.
  • STP models applies to all standard and ECN accounts. That is RoboForex applies the STP technology through a bridge connected to a liquidity provider. All transactions that exceed 0.01 lot (1,000 units) are sent to the bridge and then to the liquidity provider. RoboForex receives a part of the spread from each transaction.