RoboForex Review

2.368 • 192 REVIEWS
RoboMarkets Ltd
Updated: Jul 3, 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
* Offerings and features listed above may vary by account type, jurisdiction, and other factors. Please check the broker's website for more information.
2.368 • 192 REVIEWS

RoboForex Most Helpful Customer Reviews

M
mollomollo
Haute-Savoie, France,
Jun 28, 2018,
Registered user

good decent broker

I have traded with RoboForex on and off for several years, and have never had any issues withdrawing funds. Withdrawals always happened quickly and without question. Execution of trades was never a problem either. All in all I am happy with this broker. The only thing that could in my view be a cause of worry is that RoboForex is governed by rather weak CySec regulations. This has never been an issue in my dealings with RoboForex in the past.
T
tomi001
sursee, Switzerland,
Jan 18, 2021,
Registered user

Very good

Service use: Live Length of use: 3-6 Months
Used the cent account. Yhey have a bit a big spread usually above 2 pips, but you cannot have cent and good spreads, so it is totally okay. The ecn accounts are very good, small spread and small commissions. Deposit via skrill and credit card is instant. Skrill withdrawal is also very fast maybe 1h. On credit 1 or 2 days, but that is okay. Email response and live chat are very good also.
1 trader has found this review helpful
L
Lovybandesha
Germany, Germany,
Jun 1, 2020,
Registered user

Deposit problem

Service use: Live Length of use: over 1 Year
Hello all i just want to share here my view of bank transfer...which i have done on 29th may and the problem is i input wrong invoice no while money transfer..and i create a ticket about it same day and now its 3 days and got nothing reply back And talked to support but seems like they are a bit rude and not really helpfull..like they just dont want to talk much or help..they just told me to wait for ticket reply and not to talk in chat..i have asked support for wroking hours when payment department is there so i know when my deposit ll be processed but no reply after that...a bit nervous now..my acc no is 5175067...

Jan 15, 2017 - No Rating So far after they send a email with excuse i didnt get any reply until now and i just checked in investing.com gbp usd chart and thats also showing clearly that it reach at 1.21800 level so i dont know why only roboforex cant see it...hope they ll see and solve this..if no then i dont think so we can trust them..ll update here as soon as they fix this issue...

Jan 12, 2017 - No Rating I just got a email from roboforex that the price didnt reach the level of 1.2180 when in there mt4 its clearly showing that the price reach until 1.2181* and it was a long position open at 1.2175 and in anycase a long position should close at set tp if it reach until 1.2181* because my tp was 1.2180...seems like they just got to make me fool with some stupid reason...hope they ll check it properly and do something...

Jan 10, 2017 - 1 Star I have a problem with my account 5196801...on 10 jan 2017 i place an buy stop order on gbp usd at 1.2175 with tp 1.2180 and i sleep when i wake up my order is alrdy active at 1.21757 but didnt close at my placed tp which is 1.2180 and in the mt5 chart its clearly can see that the price hit 1.2181 but stil didnt close my order with my tp...and then the price of gbp usd gose down and close my all position and blown my account bcz of that one order which make me lose 110$ and rest of the positions also closed with lose because of that...i talk with live chat and they said they cant do anything and i create a ticket and didnt get any response so far now i wanna ask ll i get all my money that i lose because of that one position that didnt close at placed tp...please come forward to help me thanks alot

Reply by Manager RF submitted Jan 12, 2017 Dear customer.

The answer regarding the situation has been given to you in ticket HOK-956801

Bid price of GBPUSD.m didn't reach the necessary level (1.21800) to fill your Take Profit order while said position was open, thus there were no market conditions to activate your order and to close your position.

You can check OHLC parameters of GBPUSD.m candles in your terminal to see historical Bid prices and their min/max levels.

Sincerely, RoboForex
M
Reply by Manager RF submitted Jun 3, 2020:
Dear Lovybandesha,
Please note that when you created a ticket, on your E-mail was sent notification in which timeframes will be given reply and the answer was given accordingly.
Also please note that ticket is not a live chat and it's take more time to analyze in details any issues occurred on side of our clients.

Detailed reply has been given in your ticket.

Regards,
RoboForex
C
compu-forex
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
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
M
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


Recent User Reviews of RoboForex

A
alexforex97
uk, United Kingdom,
Apr 26, 2024,
Registered user

RoboForex makes it impossible to withdraw funds

Service use: Live Length of use: 0-3 Months
Many others have run into this issue however I am unable to get this problem fixed.
All I want to do is withdraw my funds and every time RoboForex tells me its my banks fault.
I called my bank and they told me this is not true!
So here I am, after going round in circles with them I am hoping this will attract their attention.
Please do not use RoboForex!!!!
1 trader has found this review helpful
A
Arla69
BANGCKOK, Thailand,
Apr 12, 2024,
Registered user

i dont advise opening an account with them

Service use: Live Length of use: over 1 Year
the trade execution speeds are excellent including the price we get filled in at..but when we make profits they simply disable your ability to withdraw funds and their support service cant give you an explanarion for the reason why...

overalll DO NOT OPEN AN AXXPUNT WITH THEM
1 trader has found this review helpful
H
Hamed10028
Salz, Austria,
Mar 15, 2024,
Registered user

Service use: Live Length of use: 0-3 Months
they don't respect your stop loss or your buy stop sell stop. no news!! if you manually close 0.6-0.7 pips, it closes, so amethatrader sends 0.20 pips ... joke.. if the person starts trading, I will manipulate the account. I will put it on the page. I will manipulate the harvest and your account as well. As I read on Hungarian sites, there are many bad reviews about roboforex and these are exactly the problems. Also, there is no regulatory body that can understand why they cheat a lot of beginner traders out of money.
ATTENTION I AM BEGINNING TO TRADE!
do not deal with roboforex because such brokers will completely spoil your trading psychology! you will never improve with such brokers because they are only trying to make you lose. I will post the video recordings soon to show how much of a fraudulent broker this is! never again roboforex is one of the worst fraud brokers I have met!
4 traders have found this review helpful
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.
2 traders have found this review helpful
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.
2 traders have 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.