RoboForex Review

2.471 · 176 REVIEWS

RoboMarkets Ltd

Updated: Sep 14, 2021 · RoboForex.com  · Is this your company?

RoboForex is a forex broker established in 2009 regulated by the IFSC of Belize (CySEC for its European division). RoboForex is also a member of The Financial Commission organization participating it its €20,000 compensation fund.

RoboForex offers over 12,000 products across Forex, Indexes, Stocks, Cryptocurrencies, ETFs, Commodities, and Metals categories.

Accounts can be based in USD, EUR, GOLD, or CNY and allow micro lot trading. Islamic accounts are available.

Trading platforms include MetaTrader 4, MetaTrader 5, cTrader, and R-Trader; CopyFX platform is offered for copy trading.

RoboForex features building automated trading solutions via R Trader. Other features include VPS service, Analytics Center, and rolling promotions.

Please read RoboForex Reviews below and share live trading experiences with this broker.

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 #000138/210
Prohibited countries:
Trading platforms: MT4, MT5, cTrader, WebTrader, Mobile Trader, R Trader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (30+)
Cryptocurrencies: (5+)
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, Skrill, UnionPay
Withdrawal Methods: Bank Wire, VISA, MasterCard, ePayments, FasaPay, Neteller, PaySec, Poli, Skrill, UnionPay

Live discussion

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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

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2.471 · 176 REVIEWS
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Traders Reviews

Cotonou, Benin,
Sep 12, 2021,
Registered user

Increase in wihdrawal time

Service use: Live

Length of use: 3-6 Months

Any broker is not perfect so is roboforex. I love trading ECN and they have good plateforms. I just feel like somehow betraid because when you begin with them your withdrawals are fast as your deposit time even on sunday. By the time, your withdrawals time start increasing from seconds to days.
 
Kuwait, Kuwait,
Aug 31, 2021,
Registered user

Widen spread to 150 pips to make the clientes lose.

Service use: Live

Length of use: 6-12 Months

SCAM BROKER / SCAM BROKER / SCAM BROKER!!

Do you believe that this broker widens the spread of the pair EURNZD in 150 pips?? And if I say that this spread up was in less than 2 seconds, do you believe it?? They are the kind of scammer that can make it!! They just do it quickly just to catch the accounts that they want to scam. If you make money, they will try to destroy you.

150 pips can make you rich or make you lose everything. And this broker loves to make you lose everything......

The average spread for the pair EURNZD is 2.3 on ECN accounts, so which marketing conditions can make it jump by almost 70 times higher???

Go to another broker, get away from this.........

I contacted them and they just said that spreads are variable and depend on market conditions (period!!). Again, which market condition can spread up 70 times higher?

They will reply here asking my account number..... but they have it and knows exactly which case I am talking about. It happened on the 23rd of August 2021 - 22pm broker time.
 
Kuala lumpur, Malaysia,
Aug 9, 2021,
Registered user

ROBOFOREX manipulated Price Action

Service use: Live

Length of use: 0-3 Months

Get Margin call while the price is not reach the standart price as other broker.Why the price action for gold not same as any broker? All broker price action only 1678.00 (Tradingview and etc) but your price action is 1638.00 ? For your information, my Procent account should not margin call if your price action same as other. Please give me your answer as soon as possible or I will make report to FINRA and www.econsumer.gov. My ticket ID 1150690
 
Reply by Manager RF submitted Aug 12, 2021:
Dear AmirulHakim,
The answer has been given in the ticket you created.

Regards, RoboForex
Delhi, India,
Jul 24, 2021,
Registered user

Don't waste your precious time on any of their contests, free or otherwise.

Service use: Other

Length of use: over 1 Year

To start, Roboforex is by far the worst, scammiest and useless trading platform and I have no idea how they run their operations but surely whatever they are doing is unethical as per my knowledge and today i am going to prove it.

Firstly, it has blocked me and put a permanent ban on me from entering any of their four(4) free tournaments for a "VIOLATION OF RULES" according to them.

I on the other hand protest this action of theirs as i did not do anything of the sort and before participating i read the contest rules top to bottom atleast 5 to 10 times. I am an intermediate trader and have been trading for over 3 years and have enough experience when it comes to demo or real trading contests and while this has happened to me in the past with other brokers too, it has not happened at this magnitude.

I achieved 1st Position in their demo contest Kingsize MT5 no. 368 and for a while it showed that i was the winner, an hour later the page showed that i was disqaulified(you can still go on that page and check it). I was shocked to see this because to my knowledge I followed all the rules. I even wrote mails to the support team and messaged their forum too but have not yet received an answer from their side. At this point I have already given up and do not care about their answer, because even if they provide an explanation 24 hours are up and they will give away the prize money to someone else who replaced me as No. 1 on their rankings board. But thats the smaller picture.

The Bigger Picture is something more awful and unethical. Let me explain. There is a condition in the contest rules that only 1 member of the family can participate in the contest at a time and if 2 members of the same family/relation are found then they both will be disqualified. GOOD TERMS AND CONDITIONS. TOTALLY AND FULLY ACCEPTABLE. I HAVE COMPLIED WITH THESE RULES FOR THE WHOLE TRADING PERIOD I HAVE HAD WITH ROBOFOREX. I had won this same Kingsize MT5 contest an year ago and was on a timeout period of 12 weeks, so I registered my father into this contest and DE-ACTIVATED MY CONTEST ACCOUNT. I did that, maintaining the integrity of the rules set by the broker so that my father too could give this broker a try but he is not as good a trader as I and after 12 or 13 weeks/completion of my timeout period i DE-ACTIVATED HIS CONTEST ACCOUNT and RE-ACTIVATED MINE. All was going well. I had won again. But this time they disqualified me and when i saw their forum board on permanent disqualification i got to know that they have blocked mine and my fathers contest trading accounts. I was shocked to even see his username as i had DE-ACTIVATED his contest accounts a long time ago. So when i asked him to check his account he told me that all of his accounts are ACTIVE. They were NOT ACTIVATED BY HIM. How this MAGIC happened i do not know. This is whats troubling me. Does the company have access to turn our accounts active and inactive according to their will. If yes, then this is unethical and as dangerous as stealing money from us and hence they are not at all trustworthy. Even if they answer my query, they have lost my trust.

Also, their support is really unresponsive so -5/10. Lucky for them that FPA offers atleast 1 star to write a review, otherwise they are worthy of a lot less.
  1 trader has found this review helpful
Reply by Manager RF submitted Jul 27, 2021:
Dear CKR007,

When deciding to participate in the Competitions, every client of the company agrees with the terms and conditions. In the situation described by you, the actions of the company fully complied with the stated Rules and cannot serve as a basis for claims.

Regards, RoboForex
Lagos, Nigeria,
Jul 19, 2021,
Registered user

Need for Serious Improvement

Service use: Live

Length of use: 0-3 Months

This is the worst broker that I've ever dealt with, when it comes to customer service.

There's no acknowledgement for emails, and the response time is unbelievably freaking slow.

To make it worse, what broker doesn't have wire transfer option for withdrawal in 2021?

Lastly, this is 2021 not 2005, almost every broker that I've ever heard of, promise to process withdrawals in not more than 1 business day, but not roboforex.

I can bet my balls that whoever started this brokerage service never traded FX, so he doesn't understand what an average FX trader wants.
 
Reply by Manager RF submitted Jul 21, 2021:
Dear elusakin,

Answers to the tickets you created were provided within the time frame limitation. We're constantly expanding the methods for withdrawing and adding funds to the accounts, all available methods at the moment can be found in your Personal Account. RoboForex undertakes to process the withdrawal request within two business days, but usually, it happens faster. More than 70% of withdrawal requests are processed instantly. But sometimes the payment system can take 1-10 days to complete the transaction. If you need more detailed answers, you can always contact the Support Service of our company through a ticket from your Personal Account.

Regards, RoboForex
Hamburg, Germany,
May 14, 2021,
Registered user

One month wait for a one minute transaction and still ....

Service use: Live

Length of use: Have not used

Greetings to all

I transferred $ 2,000,000 to my Roboforex account via Litcoin a month ago, and it is unfortunate that after a month and providing all the necessary documents to the Roboforex financial department (transaction link, transfer photos from the creator wallet) But after 30 days, I still did not get a logical answer from Robo Forex support

Having 7 years of experience in the financial markets, I have never seen such an immoral team that, although they are responsible, have delayed this transaction for any reason, and once a week, they repeat a profession to me and say: Send us the transaction link and I have done this 3 times

I have all the documents to provide this information and I can share and the documents prove that the transaction was deposited in the original Roboforex wallet on the same day, but they did not deposit it for me, and in this one month I could generate income.
I want both my money and my late payment

my ticket number is : 1088803
  2 traders have found this review helpful
Reply by Manager RF submitted May 18, 2021:
Dear CNAFX,
Please note that reply has been provided in ticket 1088803.

Regards, RoboForex
Canary Islands, Spain,
May 7, 2021,
Registered user

Unnaceptable delays on withdraws - No response from support

Service use: Live

Length of use: 3-6 Months

I asked for a withdraw by bank transfer on Tuesday at noon (00:00). Today is Friday. One support ticket opened without response and two useless calls to my personal manager (Ester T.). I wasn't expecting this from this company. I have more than 4K€ loosing value somewhere in roboforex domains.
  2 traders have found this review helpful
Reply by Manager RF submitted May 12, 2021:
Dear marionuevo,

The company's support team has already provided a response to your ticket.

If you have any additional questions, you can always contact the Support Service through the contacts mentioned on our website for help.

Regards, RoboForex
Bandar Seri Begawan, Brunei Darussalam,
Apr 11, 2021,
Registered user

No Problem with withdraw

Service use: Live

Length of use: over 1 Year

Last week trying to withdraw ... so far No problem and about 2 days receive fund ... Will use them again near future
 
Mallorca, Spain,
Mar 9, 2021,
Registered user

ROBOFOREX STEALS money of clients

Service use: Live

Length of use: 0-3 Months

Roboforex is STEALING the money of the clients.
On the 10.01.21 I ask a withdrawal of 760 eur to my Visa card. The money arrived two days later OK, but then they returned the payment. They took back from my credit card the 760 eur. I send ROBOFOREX the bank statements and all sort of proofs, but nothing.
I have been claiming since one month. They don't care about my claim. They don't even answer my desperate emails.
I went to my bank and the director called the head quarters of Visa in Spain They told him that Roboforex has returned the payment. Is not any mistake of the bank or the Credit card.
Is ROBOFOREX STEALING THE MONEY FROM THE CLIENTS!!!!!
I recommend NEVER to open an account in ROBOFOREX, and if you have already one I recommend you strongly to close your account as soon as posible.
They will try to keep your money and don't give it back to you!!!!!
 
Reply by Manager RF submitted Mar 12, 2021:
Dear Juanelnavegante,
your message contains no data necessary for closer study. If you already contacted our Live Support with this issue, please specify the ticket number. Otherwise, create a ticket in your members Area and provide detailed description of the issue.

Regards, RoboForex
São Paulo, Brazil,
Feb 25, 2021,
Registered user

Huge Loss on ETHUSD February 22 Broker Failure

Service use: Live

Length of use: 3-6 Months

This is not a scam.

I had a huge loss on ETHUSD on February 22.

My loss was about about $38.000 on my RoboForex-Pro Account

I thought that they were solve and reimburse-me, since its a small amout, but they did the contrary, they remove the ticket #1034594 from my account, which was unethical, and blamed the they provider.

Image of my account https://ibb.co/Tr7p8Nd

If you are in doubt, check ETHUSD or any ETH quotes on Roboforex on February 22 then compare to your broker. Had compared more than 10 no one has that quote at that time.

They claim ETH reached $700 that day, but market says mininum was about $1500.

Did not recommend this broker at all.

I really hope that they loss the same proprortion that I lost.

They could had solve thought support, and everything would be fine, but they choose to make me an enemy, Im publishing this on all foruns and the most important website reviews since thats a fact.
  1 trader has found this review helpful

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.