Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Forex.com
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FOREX.COM
Roboforex
9.5 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT ROBOFOREX
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Roboforex is regulated by CySEC. Roboforex have provided Forex trading services since 2009.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters London, UK Limassol, Cyprus Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No No Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 80 32 59
Commodities Offered 12 0 16
Stocks Offered 220 0 99
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones Yes No Yes
Dax Yes No Yes
Nikkei Yes No Yes
ETFs Yes No Yes
IPO Yes No Yes
See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

Losses can exceed deposits

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes Yes
MT4 Mac No Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No Yes No
PAMM No No No
Custom Platforms FOREXTrader PRO No AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes No Yes
Windows image Yes No No
Available Languages

English, Chinese, and Arabic

English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

Losses can exceed deposits

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Forex.com and Roboforex

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No Yes Yes
Standard account Yes Yes Yes
ECN Account Yes Yes No
Islamic account Yes Yes Yes
Zero spread account No Yes No
VIP account No Yes Yes
Fixed spreads Yes Yes Yes
Variable spreads Yes Yes Yes
See account options

70% of retail investor accounts lose money when trading CFDs with this provider

See account options

Losses can exceed deposits

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access Yes No Yes
STP broker Yes Yes No
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 0.01 Lot
Max trade 5 million 100 Lot None
Min deposit $50 $1 $250

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No Yes Yes
Skrill No No Yes
Payment processing time Varies Varies Varies
Withdrawal processing time 1-2 business days Varies Varies
See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

Losses can exceed deposits

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, JP US, JP BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number Yes 357 25 262660 (44) (0) 8005200423
Live Chat Yes No Yes
Website http://www.forex.com http://www.roboforex.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips 1.3 pips 1.3 pips
GBP/USD (Average: 1.1 pips) 0.9 pips 1.3 pips 2.0 pips
USD/JPY (Average: 1.1 pips) 1.1 pips 1.6 pips 1.5 pips
AUD/USD (Average: 0.8 pips) 1.2 pips 1.6 pips 1.8 pips
USD/CHF (Average: 2.3 pips) 1.1 pips 2.0 pips 2.0 pips
USD/CAD (Average: 2.9 pips) 0.9 pips 1.5 pips 2.5 pips
NZD/USD (Average: 3.6 pips) 2.3 pips 1.2 pips 2.8 pips
EUR/GBP (Average: 2.4 pips) 1.3 pips 1.0 pips 2.0 pips
View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

Losses can exceed deposits

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission No No No
Deposit Fee No No No
Withdrawal Fee No Yes No
View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

Losses can exceed deposits

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from http://www.forex.com. Last updated on 01/10/2019.

All information collected from http://www.roboforex.com/. Last updated on 01/10/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

Company

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

Roboforex is an online forex and binary options trading service provider who are regulated by CySEC, ICF. To open an account with Roboforex, minimum deposits start from $1.

With Roboforex you can trade Forex, metals, and CFD. If you like to trade on the go, Roboforex have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Roboforex offer MetaTrader4, MetaTrader5, cTrader, WebTrader, iPhoneTrader, Android Trader, cTrader Web, Currenex Viking Trader platforms to make your trades and support 14 different languages.

The spreads offered by Roboforex for the most popular instruments are:
2 EUR/USD, 30 FTSE 100, 100 GOLD,
3 GBP/USD, 40 DOW/JONES, 14 Crude Oil,
see all the spreads here.



For more information about trading with Roboforex, we have put together an indepth Roboforex review with all the pros and cons about this broker.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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Forex.com or Roboforex?

Well established or offers VIP accounts ?

If you’re a trader looking for a broker that has been established for a long time, Forex.com is likely a good choice. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Forex.com to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Forex.com is regulated by Financial Conduct Authority, while Roboforex is regulated by CySEC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Forex.com will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Forex.com has been around for 20 years, while Roboforex have been around for 10 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Forex.com and Roboforex use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Forex.com or Roboforex in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Forex.com is a publicly listed company, while on the other hand Roboforex is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Forex.com are based in London, UK, while Roboforex are based in Limassol, Cyprus .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Forex.com and Roboforex offer forex trading. Forex.com have a slightly larger variety of currency pairs with 80 pairs, compared to 32 offered by Roboforex. Also, if you’re looking to trade cryptocurrencies, Forex.com offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both Forex.com and Roboforex allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Forex.com and Roboforex offer this. Roboforex also offer the new & improved MT5 platform. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. Roboforex, for example, offer a mini account, standard account and VIP account.

For Muslim traders, Forex.com offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Forex.com does allow scalping and hedging. While Roboforex also allows scalping and hedging. You can trade with EAs (expert advisors) on both Forex.com and Roboforex.

In terms of risk management tools, neither Forex.com or Roboforex offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Forex.com also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Roboforex accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Forex.com charges 1.00 points, while Roboforex charges 0.10 points. Therefore, Roboforex is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Forex.com or Roboforex?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Forex.com is more reliable based on our criteria above. Forex.com has a wider range of instruments to trade. Forex.com offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.