RoboForex (RoboMarkets) Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our research led us to find that RoboForex (also known as RoboMarkets) offers a solid choice for forex and CFD traders. Although it has an average recommendation overall, the broker shines in its offering of investments and mobile trading apps.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Number of Tradeable Symbols: RoboForex offers nearly 3,000 tradeable symbols (up to 8,400 are available on R StocksTrader).
- Comprehensive Platform Options: The broker supports a proprietary trading app, MetaTrader 4, MetaTrader 5, and cTrader, catering to a wide range of trading preferences.
Cons
- Limited Education Resources: Needs improvement in education for beginners.
- Higher spreads: The average spread for the EUR/USD pair is above the industry average, making RoboForex a pricier option than most.
Ratings Summary
- Investment Types - 9.5/10
- Commissions & Fees - 7.0/10
- Trading platforms - 7.5/10
- Research - 7.0/10
- Mobile Apps - 7.5/10
- Education - 6.0/10
- Overall - 7.3/10
Can I trust RoboForex?
RoboForex is MiFID regulated but holds no other Tier-1 license. ForexBrokers.com rates its trust score at an "Average Risk" level of 73.
RoboForex is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - European Union via MiFID
- Tier-2 Regulators - None
- Tier-3 Regulators - None
- Tier-4 Regulators - Financial Services Commission (FSC) and the Financial Services Authority (FSA)
Is RoboForex good for beginners?
RoboForex may not be the best choice for beginners as it does not offer beginner education videos or advanced education resources. Its education rating is average.
| Feature |
RoboForex
|
|---|---|
| Education (Forex or CFDs) | No |
| Client Webinars | No |
| Videos - Beginner Trading Videos | No |
| Videos - Advanced Trading Videos | No |
| Investor Dictionary (Glossary) | No |
RoboForex commissions and fees summary
RoboForex requires a minimum deposit of $100 and has a spread cost of 1.3 for EUR/USD, slightly above the industry average of 1.08. It also offers active trader or VIP discounts but its overall fee structure is considered average.
| Feature |
RoboForex
|
|---|---|
| Minimum Deposit | $100 |
| Average Spread EUR/USD - Mini | 1.3 |
| Average Spread EUR/USD - Standard | 1.3 |
| All-in Cost EUR/USD - Active | N/A |
| Active Trader or VIP Discounts | Yes |
RoboForex trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
RoboForex offers a robust range of trading platforms and tools, making it a decent choice for traders. The broker's platform rating is average.
Trading platforms offered: MetaTrader 4, MetaTrader 5, cTrader, and a proprietary platform.
Trading tools: Standard trading tools are available.
Copy trading: Available, adding flexibility for various trading strategies.
| Feature |
RoboForex
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
Mobile trading apps at RoboForex
RoboForex’s mobile trading apps are well-regarded and provide a good choice for traders who need on-the-go access to the markets.
| Feature |
RoboForex
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
How do I open an account with RoboForex?
- Visit the RoboForex website.
- Click on "Open an Account".
- Fill in the registration form with your personal details.
- Verify your identity by providing the necessary documents.
- Fund your account using one of the supported payment methods.
- Start trading.
What can I trade at RoboForex?
RoboForex offers 36 forex pairs and a total of 12,000 tradeable symbols, which is significantly above the industry average of 3,623 symbols.
| Feature |
RoboForex
|
|---|---|
| Tradeable Symbols (Total) | 8400 |
| Forex Pairs (Total) | 28 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | No |
Account funding at RoboForex
RoboForex supports bank wires, Neteller, PayPal, credit cards, and Skrill for account funding.
| Feature |
RoboForex
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Neteller (Deposit/Withdraw) | Yes |
About RoboForex
RoboForex (RoboMarkets) was founded in 2009 and has grown to offer a wide range of trading services. It is MiFID regulated, ensuring a certain level of protection for its clients.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.