RoboForex Review

2.409 • 189 REVIEWS
RoboMarkets Ltd
Updated: Feb 21, 2024
RoboForex.com

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

RoboForex offers over 12,000 products across Forex, Indexes, Stocks, 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, and R Stocks 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.

Related websites include RoboMarkets.com.
RoboForex Ltd is an international broker regulated by the Belize FSC.
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, +593 964 256 286
Regional offices:
Regulators: FSC #000138/7
Prohibited countries: Show all >>
Trading platforms: MT4, MT5, WebTrader, MobileTrader (MobileApp), R Stocks Trader
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (30+)
Cryptocurrencies:
CFD: (60+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Copy Trading: ✅ Yes
Deposit Methods: VISA, MasterCard, AdvCash, Apple Pay, AstroPay, Boleto, EPS, Giropay, GPay, iDEAL, JCB, Local Bank Transfers, Neteller, PerfectMoney, PSE, QR Payment, SafetyPay, Skrill, SOFORT, Western Union
Withdrawal Methods: VISA, MasterCard, AdvCash, Apple Pay, AstroPay, Boleto, EPS, Giropay, GPay, iDEAL, JCB, Local Bank Transfers, Neteller, PerfectMoney, PSE, QR Payment, SafetyPay, Skrill, SOFORT, Western Union
* Please check broker website for more information
2.409 • 189 REVIEWS

Recent User Reviews of RoboForex

M
Mossforex
London, United Kingdom,
Feb 11, 2024,
Registered user

Service use: Live Length of use: 0-3 Months
Redrawal issues with Roboforex.(A/C 38007735 )

Dear M Q.,

Your request for funds withdrawal 25392419 has been rejected due to the following reason:

Please note that your bank cancelled the transaction with the following comment: "Account not Eligible". More details can only be provided by your bank. Kindly use other bank cards or alternative payment systems available in your Members Area, for example, Visa/MasterCard (Refund). If you do not have this payment method, please use other bank cards or alternative payment methods that are available in your Members Area.

1. I have contacted my bank, Santander Bank, they said they haven't cancelled any transactions and my accounts has no restrictions on it.
Yet Roboforex is claiming my bank has cancelled my transaction.
2. They requested I should authorise a new bank card and make another redrawal request. This time, I used a new bank card and made initial deposit with my new card. Roboforex still replied that my bank has cancelled the transaction so I should authorise a new bank card.
3. What I have noticed is that Roboforex you have only 3 options for redrawal and I have tried all but failed. Please help I need to redraw my hard earned money.
M
Reply by Manager RF submitted Feb 19, 2024:
Dear Mossforex,

Please be informed that a reply has been provided in ticket 1752710. To receive advice on the best way to withdraw funds, please contact the Company’s Payment department via a ticket from your Personal Member Area.

Regards,
RoboForex
B
benju3
Myslowice, Poland,
Jan 10, 2024,
Registered user

Unhappy

Service use: Live Length of use: 0-3 Months
I am unhappy about my experience with this broker. Firstly very big commision withdrawal, second tools for example webtrader is fake platform to minimalize and making negative balance.
I invested money and on other platform had made a profit, here I have the opposite position. Platform is very delay and not agree with the real price. I compared them at the same time, when I should get a profit comparing in real time between tradeview with charts. On jpy/eur was big sell trand, chart in platform was opposite. This is reason to waste money/ I do not recommend them. I want back my money.
B
Reply by Manager RF submitted Jan 12, 2024:
Dear benju3,

We want to assure you that RoboForex is committed to regulatory compliance and fair operations practices, ensuring the fulfillment of financial obligations to all clients. Moreover, our clients can withdraw funds from their accounts with no commissions twice a month.

If you have any complaints about order execution or trading platform operations, please address them to the Company’s Dealing department and describe your issue in a ticket. We will be happy to help!

Regards,
RoboForex
F
forexbosss
Kushtia, Bangladesh,
Jan 5, 2024,
Registered user

Service use: Live Length of use: over 1 Year
I was trading for 12+ years. With roboforex introduced 10+ years.
I keep telling all the new and old traders to avoid this roboforex broker completely. Question is why?

Suddenly there was a withdrawl via crypto which was not executed by me, they blocked my account for security reason because they are also confirmed it was not done by me. There was no roboforex withdrawl request mail, just withdrawl execution mail which never happened entirely. They told me it is my fault, i compromise my mail, password. I ask them where is the withdrawl request mail, they r silent.

I wonder if there were thousands, they will just complete their liability saying it's your fault

(the Client bears sole responsibility for the safety of confidential information received from the Company and accepts the risks of financial losses incurred as a result of unauthorized access of third parties to the Client's trading account).

My question is where is the withdrawl request mail. not available. Then i think roboforex has done it. If any traders or hackers did it, there are withdrawl processing.
Its not one click excecution.

Jan 9, 2021 - 1 Star several times deposit problem. now 4 days ongoing. i have deposited via perfect money. but yet not available in my broker account. previously same case. then take 2 days. now 4 days ongoing for another deposit problem.

Reply by Manager RF submitted Jan 11, 2021 Dear forexbosss,

The answer has been provided in the ticket. If you have more questions, please do not hesitate to contact us again.

Regards, RoboForex
1 trader has found this review helpful
S
Smithnas100
Durban , South Africa,
Dec 27, 2023,
Registered user

Withdrawal issue

Service use: Live
It has been 1 month without my withdrawal. Roboforex keeps asking for the same details they asked us to provide and they decline while we send original statements. This broker doesn't want to give us our deposit and profit. Please help.
1 trader has found this review helpful
J
jojo1122
Bratislava, Slovakia,
Oct 16, 2023,
Registered user

Negative swap both ways, big slippage.

Service use: Live Length of use: over 1 Year
I dont understand Who can TRUST to this broker .... with bigger money ....
This is fully Market Maker.
THIS BROKER HAS also NEGATIVE SWAP for both sides!
This broker has TOP BIG Sllipages and MarkUp...
They has RAW ACC with Triple costs of major brokers ... (commisson +markup+sllipages)

I DO RECOMMEND TO ANY PROFESSIONAL TRADERS with any bigger capital ... maybe ONLY cents accounts
2 traders have found this review helpful
J
Reply by Manager RF submitted Oct 19, 2023:
Dear jojo1122,

RoboForex is a regulated broker that operates in strict adherence to all legislative and regulatory documents, and has a special brokerage license FSC Belize "Trading in financial and commodity-based derivative instruments and other securities".

Also RoboForex Ltd has received the execution quality certificate Verify My Trade (VMT), confirming its compliance with the strict requirements of the Financial Commission to its members.

In case you have any complaints about order execution, please submit a ticket to the Company’s Dealing department from your Personal Member Area and specify numbers of orders, which, in your opinion, were executed incorrectly. The Company’s staff will check your message and deliver a situationally suitable verdict.

Regards,
RoboForex
F
fxmasterwinner
Ankara, Turkey,
Jul 6, 2023,
Registered user

roboforex is regret

Service use: Live Length of use: over 1 Year
I invested in Roboforex, deposited money, withdrawn money, but when my profitability increased, roboforex started to pay my money late, finally refused to pay my money, they have not paid my money close to 4000 usd for about 2 months, they constantly asked for documents, I sent the documents they wanted, they asked for new ones.

They asked for all my personal finance information, I just made an investment with my Perfect Money account. Why do you want my bank accounts or inheritance information, these are none of your business, send me my money, close my account, and when I said I don't want to work with you, they stopped responding and I haven't been able to get an answer for days, I can't withdraw my money.
1 trader has found this review helpful
F
Reply by Manager RF submitted Jul 11, 2023:
Dear fxmasterwinner,
Please note that reply has been given in the ticket you created.

Regards,
RoboForex
A
Aneilton33
Brazil, Brazil,
May 9, 2023,
Registered user

Where is my deposit

Service use: Live Length of use: 3-6 Months
I made a deposit and they canceled it and kept my money. Support does not respond to me and simply ignores me.
Roboforex is the worst broker
2 traders have found this review helpful
A
Reply by Manager RF submitted May 11, 2023:

Dear Aneilton33,

Please note that funds have been credited to your trading account. If you have additional questions, do not hesitate to contact our Support Team. We will be glad to help!

Regards,
RoboForex
Y
yagamilw
mexico, Mexico,
May 1, 2023,
Registered user

WITHDRAWAL NIGHTMARE

Service use: Live Length of use: over 1 Year
Its a nightmare having to withdraw and even more having to deal with customer service.

They keep blamming ME for them not bein able to answer me what i need for 2 MONTHS NOW.

I opened a new ticket 1 week ago and is not even answered by the auto message.

They tend to do this when is withdraw related; whenever i have to deposit i get answers every dmn second.

Their excuse is that the money i have in roboforex is my bank issue? like they dont even read the text you writte in their tickets.

I would highly recommend avoiding this broker. Theres better cent accounts for expert advisor and nothing else is better than exness, fbs or icmarkets.

I trade same in 4 different brokers and only this B tier level broker is giving me issues with something so unrelated.. i wasnt even planning to withdraw but after bein called a liar and being abussed by customer service trolling, im out. I got clients to protect and you can see in the answer at FPA how they love to lie. They do have a system that tags your strategies based in formulas they already provided to me in previous tickewts.. they even "" say they will update that so it doesnt show (thei risk meassure) where you can see, is still there.

Also, withdraws are taken as loss while deposits as proffit. Thas how pavekludo and other tradewrs blew millions of users accounts backed by roboforex. They only care about the commissions, once the trader or investors have issues they will blame you and avoid you until you desist.

They can answer as much as they want, i have all the facts and every answer from them is a lie. In some week ill have enough material to prove my case - around 3 months not having a decent reply back is enough to prove the scamm they are.

Keep posting at FB your opinions and wait for the video at YTB channel.

Cheers and be careful- 1/10 with this broker regulated at CHIPRE!

Apr 20, 2023 - 1 Star Customer service are bots, they only copy paste random asnwers that had nothing to do with your issues after tacking 3-4 days to answer.
Ive been trying to deal with some issues for alsmot 3 weeks and the only solutions i receive from customer service is the same copy paste ALL THE TIME. Funny thing is they answer the exact same thing and yet they claim is my fault.
Imagine im asking for oranges to an orange company and they are telling me to **** off. Pretty much how roboforex rolls.
It used to be a good broker but they dont care anything no more.
Coypy fx system is pure scamm. They have a risk measure, like how they can measure a strategy risk with 10 trdes? literally only information they have is 10 trades and they label strategies. Why is this important? because they label as low risk a lot of strategies with a lot of clients, that are making insane returns like 100% every month just to end up blowing MILLIONS in minutes. They seem to be promoting this constant.
For example, in my account they take withdraws as LOOSES like wtf! Im +12% and mql shows that and copyfx shows im -12 like in what world this is something logical? if account havent closed any loosing trade, why you modify the indicator.
In general, is a broker that lost all the good things that they had over the prime brokers, so theres no need to risk your money. At the end if you have an issue roboforex answer you that is not their problem and the answer is final.

im an algo trader since 2018 and i can tell you, theres tons of better options.

Reply by Manager RF submitted Apr 28, 2023 Dear yagamilw,

We are very sorry to hear about your trading failures, but we would like to emphasize that our company offers all clients the transparent trading opportunities, and the outcome is solely dependent on the proficiency and experience of the trader. Copy trading services present additional risks to your investment due to the nature of these products.

Please note that we do not comment on trading strategies or evaluate them, except for the statistical parameters indicated on our website, and we are responsible for the correct functioning of technical features.

In case the risks involved are not apparent to you, we suggest seeking independent advice from an external specialist.

If you have any questions about the execution of orders, please contact the Dealing Department via a ticket from your Personal Member Area. We will also be grateful if you send your suggestions for improving the functioning and features of the CopyFX System Rating to info@roboforex.com.

Regards,
RoboForex
1 trader has found this review helpful
Y
Reply by Manager RF submitted May 2, 2023:
Dear yagamilw,
Please note that detailed explanation has been given in ticket 1541925.

Regards,
RoboForex
J
Janduir
São Bernardo do Campo - SP, Brazil,
Nov 11, 2022,
Registered user

Withdrawal Difficulty

Service use: Live Length of use: 6-12 Months
I used it for less than 1 year testing a new strategy. I managed to make a profit, but I confess that when it came time to bring the money back I had a lot of difficulty. I do not recommend.
1 trader has found this review helpful
J
Reply by Manager RF submitted Nov 15, 2022:
Dear Janduir,
Your feedback contains no data necessary for us to handle it. To get advice on the best way to withdraw funds, please contact the Company’s Payment department via a ticket from your Members Area. We will be very pleased to help you!

Regards RoboForex
R
Radu SyZu
Romania, Romania,
Oct 20, 2022,
Registered user

Freeze trades, won't pay the fair trade !!!

Service use: Live Length of use: over 1 Year
The most unjust broker ever , DON'T USE IT !!!.
When I finally made some profits with my trades everything froze I couldn't close them, I called the support to solve the problem so I won't lose profits.I finally managed to close them but the price already changed so i lost some, I said okay I understand even I lose 100$ +, but one trade on SELL was 10868.0, and i got -9.7 but at that hour the price was near 10400 so it should be 300$+, and they won't pay my fair price , and they barely answer and always close the ticket, they gave me the 9.7 back like yes that is the same thing as 300$+. If the trades would froze and the price went in the other direction they would take all the money in a second but when I make profits they won't pay the fair price !!!

So DON'T use this BROKER !!! You can find another one that is better than this one with better spreads ,services and that are fair !!!
1 trader has found this review helpful
R
Reply by Manager RF submitted Oct 24, 2022:
Dear Radu SyZu,
Our Live Support provided the answer to your claim in the ticket you've created, which contains all information on the studied situation. In case you have any new data or detail that may be useful in reviewing your claim, please send it to our Live Support via a ticket from your Members Area. Thank you for your cooperation.

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.