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Roboforex Review

  • Regulated by: CySEC
  • Safety: segregates client funds
  • Trust Rating: B
Open Roboforex's Website

Losses can exceed deposits. Your capital is at risk.

Roboforex two ways: Forex, CFDs.

To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, Roboforex offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by CySEC (Licence: 191/13 ). Roboforex puts all client funds in a segregated bank account and uses tier-1 banks for this. Roboforex have been established since 2009, and have a head office in Cyprus.

Before we dive into some of the more detailed aspects of Roboforex’s spreads, fees, platforms and trading features, you may want to open Roboforex‘s website in a new tab by clicking the button below in order to see the latest information directly from Roboforex.

Open a demo account Visit Roboforex

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

Roboforex screenshot

PROS

  • Segeregates client funds
  • Established in 2009
  • Regulated by CySEC
  • Min. deposit from $1

CONS

What are Roboforex's spreads & fees?

Like most brokers, Roboforex take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Roboforex’s website. The colour bars show how competitive Roboforex’s spreads are in comparison to other popular brokers featured on BrokerNotes.

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Roboforex's minimum spread for trading EUR/USD is 1.3 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Roboforex vs. similar brokers.

See all Spreads
Your capital is at risk.

How much does Roboforex charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Roboforex at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index.

Roboforex XTB City Index
Spread from: N/A $2.00 $5.00
Typical overnight fee: N/A $7.94 $20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $9.94 $25.6
Visit Roboforex Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Your capital is at risk.

General Fees

  • Roboforex doesn’t charge inactivity fees*
  • Roboforex withdrawal fees varies on payment method

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$5.20
  • The rollover fee for short positions on EUR/USD is -$0.60

Commissions

  • Roboforex doesn’t charge commission on CFD shares

What can you trade with Roboforex?

FX / Currencies Roboforex XTB City Index
# of forex pairs offered 32 50 84
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Roboforex XTB City Index
# of commodities offered 0 0 26
Metals Yes Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs Roboforex XTB City Index
# of Stocks offered 0 1500 4500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
See Roboforex's Instruments See XTB's Instruments See City Index's Instruments
Your capital is at risk.

What’s the Roboforex trading experience like?

1) Platforms and apps

Roboforex is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. Roboforex is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of cTrader brokers. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

Roboforex Screenshot See Roboforex's Platforms

Roboforex also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Roboforex's platforms
Your capital is at risk.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Roboforex allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. Roboforex allow you to execute a maximum trade of 100 Lot. As Roboforex offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Roboforex offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian

Roboforex have a BrokerNotes double AA support rating because Roboforex offer over three languages email and phone support.

4) What you’ll need to open an account with Roboforex

As Roboforex is regulated by CySEC, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Roboforex’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Roboforex you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.roboforex.com/ on August 20, 2018.