RoboForex Overall rating
| Rating | Weight | |
| User Rating |
4.6 (131 reviews)
 |
3 |
| Popularity |
5.0
|
3 |
| Regulation |
2.0
|
2 |
| Pricing rating |
5.0
|
1 |
| Features |
Not rated
|
1 |
| Customer Support |
Not rated
|
1 |
Pros
- High user rating of 4.6 out of 5
- Established broker since 2009
- High organic monthly visits of 4,009,856
- Competitive forex spreads averaging 1.39 pips on selected symbols
- High leverage available up to 2000:1
- Offers popular trading platforms like MetaTrader 4 and 5
- Provides negative balance protection
Cons
- Regulated only by Belize - BZ FSC
- Does not provide financials publicly
- Not licensed as a bank
- No compensation scheme
We tested RoboForex using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
RoboForex, founded in 2009, is a well-established broker in the forex industry. It is regulated by the Belize Financial Services Commission (BZ FSC). Despite having a high user rating of 4.6 out of 5 based on user reviews, it ranks 61 in our forex brokers database.
RoboForex is a private company and does not publicly provide its financials. It does not hold a bank license. The broker receives a substantial amount of organic traffic, ranking 11th in this metric among forex brokers, with over 4 million visits monthly and a popularity rating of 5.0 out of 5.
While high regulation and popularity are significant indicators of a broker's reliability, it's essential to remember that even highly regulated firms can face challenges and failures in the financial industry.
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| RoboForex Ltd |
|
 |
|
|
2000 : 1 |
Deposit Insurance
RoboForex does not offer an investor compensation scheme under its current regulatory framework with the Belize Financial Services Commission. This means that if the broker were to fail, there would be no compensation for losses incurred by investors. It is crucial for traders to consider this aspect when choosing a broker, especially those who prioritize financial security and investor protection.
Spreads and Costs
RoboForex offers competitive spreads and costs, especially in the forex market, with an average spread of 1.39 pips. When compared to other industry-leading brokers, RoboForex's average spreads across various asset classes are in line or lower. This makes it an attractive option for traders looking for cost-effective trading solutions.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| RoboForex ECN | - | 1.39 | 1.93 | 0.06 |
| Axi - PRO | 13.67 | 1.22 | 1.55 | 0.07 |
| IC Markets - Raw Spread | 9.97 | 1.22 | 1.02 | 0.07 |
| Tickmill - ECN PRO | 9.25 | 1.44 | 1.74 | 0.11 |
| IC Markets - Standard | 10.09 | 1.49 | 1.05 | 0.09 |
| Pepperstone - Standard | 9.85 | 1.65 | 2.14 | 0.08 |
| Tickmill - Classic | 8.33 | 2.07 | 1.65 | 0.15 |
| Axi - Standard | 14.78 | 2.23 | 1.54 | 0.13 |
| FxPro/FxPro UK | - | 2.37 | 3.3 | - |
| XM Group - Standard | 39.34 | 2.49 | 3.8 | - |
Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD). Data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | US30 | AUS200 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RoboForex – ECN | - | - | 0.72 | 1.15 | 2.06 | 0.85 | 2.21 | 1.35 | 1.15 | - | 0.12 | 0.01 |
| Axi - PRO | 25.03 | 2.3 | 0.54 | 1.31 | 1.84 | 0.72 | 1.44 | 1.46 | 2 | 1.1 | 0.13 | 0.02 |
| IC Markets - Raw Spread | 16.95 | 3 | 0.7 | 1.16 | 1.56 | 0.82 | 1.71 | 1.38 | 0.92 | 1.12 | 0.12 | 0.02 |
| Tickmill - ECN PRO | 17.19 | 1.31 | 0.55 | 1.32 | 2.63 | 0.64 | 1.85 | 1.68 | 2.26 | 1.22 | 0.21 | 0.01 |
| IC Markets - Standard | 17.19 | 3 | 0.88 | 1.14 | 2.12 | 1.35 | 1.84 | 1.6 | 0.92 | 1.18 | 0.16 | 0.02 |
| Pepperstone - Standard | 16.71 | 3 | 1.05 | 1.3 | 2.31 | 1.31 | 2.2 | 1.73 | 2.73 | 1.56 | 0.15 | 0.02 |
| Tickmill - Classic | 15.43 | 1.24 | 1.63 | 1.92 | 2.38 | 1.69 | 2.51 | 2.32 | 2.09 | 1.2 | 0.28 | 0.02 |
| Axi - Standard | 27.22 | 2.33 | 1.41 | 2.16 | 3.15 | 1.56 | 2.56 | 2.52 | 1.98 | 1.09 | 0.22 | 0.03 |
| FxPro/FxPro UK | - | - | 1.27 | 1.49 | 3.22 | 1.46 | 3.59 | 3.22 | 2.51 | 4.1 | - | - |
| XM Group - Standard | 73.74 | 4.94 | 1.29 | 2.06 | 4.02 | 2.37 | 2.91 | 2.31 | 4.18 | 3.42 | - | - |
Swap Rates/Financing Fees
Swap fees are the costs associated with holding a trading position overnight. Positive swap rates can pay out, while negative swap rates incur a cost. Based on the average swap rates, RoboForex's swap rates are not the best when compared to other industry-leading brokers, with an average swap rate of -5.81.
| Broker | Best | Average | USDJPY Swap Short | USDJPY Swap Long | NZDUSD Swap Short | NZDUSD Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| RoboForex | -- | -5.81 | -3.56 | 1.22 | -0.23 | -0.30 | -3.00 | -29.00 |
| FXTM | -- | -8.13 | -30.31 | 3.21 | -1.29 | -1.60 | 20.52 | -39.30 |
| IC Markets | Best | -2.27 | -2.59 | 1.25 | -0.10 | -0.14 | 20.78 | -32.84 |
| Axi | -- | -3.19 | -2.65 | 1.40 | -0.04 | -0.13 | 15.30 | -33.00 |
| Pepperstone | -- | -3.03 | -2.61 | 1.22 | -0.14 | -0.13 | 23.75 | -40.25 |
| XM | -- | -5.04 | -3.66 | 1.09 | -0.16 | -0.20 | 19.67 | -46.99 |
| FxPro | -- | -4.60 | -2.99 | 0.94 | -0.14 | -0.15 | 18.50 | -43.75 |
Does RoboForex Offer Islamic/Swap-free Accounts?
Islamic or swap-free accounts are designed to comply with Islamic law, which prohibits earning interest. These accounts do not incur swap or rollover interest on overnight positions. RoboForex offers swap-free accounts for clients of Islamic faith.
To open a swap-free account, traders must register on the RoboForex website and submit a request for a swap-free account, indicating their religious affiliation. These accounts are available on the MetaTrader 4 and MetaTrader 5 platforms, and they offer the same trading conditions as standard accounts, minus the swap fees.
Other Fees
RoboForex has a transparent fee structure, but traders should be aware of additional costs that may apply:
| Fee Type | Details |
|---|---|
| Withdrawal Fees | Fees vary depending on the withdrawal method used. For example, local bank transfers can incur fees up to 4% for up to 20,000 USD, while other methods like e-wallets may have lower fees. |
| Inactivity Fees | An inactivity fee of $10 per month is charged if no trading activity occurs for a period of 90 days. |
| Currency Conversion Fees | When trading instruments in a currency different from the account currency, conversion fees may apply. |
Comparison to other Brokers
RoboForex stands out in several areas compared to other brokers. While it is regulated only by the Belize Financial Services Commission, it compensates with a high user rating of 4.6 out of 5 and a substantial amount of organic web traffic, ranking 11th in this metric among forex brokers.
Its competitive forex spreads, averaging 1.39 pips, and high leverage of up to 2000:1 make it an attractive choice for cost-conscious traders. However, it lacks the robust regulatory oversight seen with brokers like IC Markets and Pepperstone, which are regulated by multiple top-tier authorities.
RoboForex also does not publicly provide its financials and lacks an investor compensation scheme, which could be a concern for some traders. In terms of swap rates, RoboForex offers better than average conditions, which is beneficial for traders holding positions overnight.
Overall, RoboForex is a competitive broker but may fall short for those prioritizing extensive regulatory protection and financial transparency.
Trading Platforms - Mobile, Desktop, Automated
| Platform | Device Compatibility | Automated Trading |
|---|---|---|
| MetaTrader 4 | Desktop, Mobile, Web | Yes, via MQL4 |
| MetaTrader 5 | Desktop, Mobile, Web | Yes, via MQL5 |
| R Stocks Trader | Mobile, Web | Yes, on app |
RoboForex offers several trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are available for desktop, mobile, and web. These platforms are well-known for their robust charting tools, comprehensive indicators, and automated trading capabilities through MQL4 and MQL5 programming languages.
MQL4 and MQL5 are relatively easy to learn and offer extensive online resources and community support, making it accessible for traders interested in developing and using automated trading strategies.
RoboForex also offers a proprietary platform (R Stocks Trader), which is accessible via mobile and web, and supporting automated trading via the app itself. This platform is user-friendly and suitable for traders looking to trade stocks and offers a straightforward trading solution without the need for automation.
What Can you Trade?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | +40 |
| Crypto CFD | n/a |
| Stock CFD | +12,000 |
| Stock Index CFD | 4 |
| Commodities CFD | 26 |
| Bond CFD | n/a |
| ETFs CFD | +1,000 |
| Futures CFD | 3 |
RoboForex offers a variety of asset classes, including 40 forex pairs, 12,000 stock CFDs, 4 stock index CFDs, and 26 commodities CFDs. The broker does not provide trading in cryptocurrencies, or bonds CFDs. All instruments offered by RoboForex are traded as CFDs, which means traders do not own the underlying assets.
Instead, they speculate on the price movements of these assets. CFDs allow traders to use leverage, amplifying both potential gains and losses. Leverage can be a powerful tool, but it also increases risk, so it is essential for traders to understand how it works and use it judiciously. For more detailed information on the instruments available for trading, visit the RoboForex instruments page.
Available Leverage
RoboForex offers a maximum leverage of 2000:1 for retail clients, which is significantly higher than the industry average. The actual leverage available to traders may vary depending on the regulatory entity under which their account is registered and the specific asset class being traded.
High leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the potential risk. Traders should carefully consider their risk management strategies when using high leverage.
Prohibited Countries
RoboForex does not accept clients from certain jurisdictions due to regulatory restrictions. These countries include the USA, Canada, Japan, Australia, and some others. For a complete list of prohibited countries, traders should refer to the RoboForex website or contact their customer support for more information.
RoboForex Account types
| ProCent | Pro | ECN | R Trader | Prime | |
| Commission | - | $20.00 Per 1 Million USD Traded | As Low As $0.50 Per Contract | $10.00 Per 1 Million USD Traded | |
| Maximum leverage | 2000:1 | 500:1 | 300:1 | ||
| Mobile Platform | MT4 Mobile | MT4 Mobile, MT5 Mobile | Proprietary | MT4 Mobile | |
| Trading platform | MT4, MT5, WebTrader | Proprietary | MT4, MT5, WebTrader | ||
| Spread Type | Variable Spread | ||||
| Minimum Deposit | 10 | 100 | 10 | ||
| Minimum Trade Size | 0.1 | 0.01 | 1 | 0.01 | |
| Trailing Stops | | ||||
| Scalping Allowed | | ||||
| Hedging Allowed | | ||||
| Islamic Accounts | | | | ||
| ProCent | |
| Maximum leverage | 2000:1 |
| Typical Spread | 1.53 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 10 |
| Minimum Trade Size | 0.1 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Pro | |
| Maximum leverage | 2000:1 |
| Typical Spread | 1.53 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 10 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| ECN | |
| Commission | $20.00 Per 1 Million USD Traded |
| Maximum leverage | 500:1 |
| Typical Spread | 0.43 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 10 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| R Trader | |
| Commission | As Low As $0.50 Per Contract |
| Maximum leverage | 500:1 |
| Typical Spread | 0.01 USD |
| Trading platform | Proprietary |
| Mobile platform | Proprietary |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 1 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Prime | |
| Commission | $10.00 Per 1 Million USD Traded |
| Maximum leverage | 300:1 |
| Typical Spread | 0.3 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 10 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
RoboForex Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
| Websites |
roboforex.com
|
| Organic monthly visits | 4,396,545 (91%) |
| Organic traffic rank | 11 out of 827 (Forex Brokers) |
| Paid monthly visits | 449,394 (9%) |
| Total monthly visits | 4,845,939 |
| Bounce rate | 46% |
| Pages per visit | 2.99 |
| Average visit duration | 00:03:24.8750000 |
RoboForex Profile
| Company Name | RoboForex Ltd |
| Categories | Forex Brokers, Forex Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2009 |
| Headquarters | Belize |
| Office Locations | Belize |
| Account Currency | EUR, GLD, USD, CZK, CNY |
| Support Languages | Arabic, Chinese, English, Thai, Vietnamese |
| Funding Methods | AstroPay, Bank Wire, China Union Pay, Credit Card, Giropay, iDeal, Neteller, PayPal, Perfect Money, POLi, Przelewy24, QIWI Wallet, Skrill, Sofort, Yandex, Boleto Bancario, Local Bank Transfer, Trustly, Debit Card, AdvCash, NganLuong.vn, Rapid Transfer, Nordea Solo, PSE, Webpay, HWG |
| Financial Instruments | Forex, Shares, Indices, Oil/Energies, Metals, ETFs |
| Prohibited Countries | Australia, Brazil, Canada, Guinea Bissau, Indonesia, Iran, Japan, Liberia, Northern Mariana Islands, Russia, Svalbard and Jan Mayen, East Timor, Turkey, United States, Bonaire, Sint Eustatius and Saba, Curacao, South Sudan |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
RoboForex User reviews
)
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
RoboForex Cashback rebates
| ProCent | Pro | ECN | R Trader | Prime | |
| Forex | 37.50% Of the Broker Revenue** | 15% Of the Broker Revenue** | |||
| Oil / Energies | - | 37.50% Of the Broker Revenue** | 15% Of the Broker Revenue** | ||
| Metals | 37.50% Of the Broker Revenue** | 15% Of the Broker Revenue** | |||
| Shares / Equities | - | 37.50% Of the Broker Revenue** | 15% Of the Broker Revenue** | ||
| Indices | - | 37.50% Of the Broker Revenue** | 15% Of the Broker Revenue** | ||
| ETFs | - | 37.50% Of the Broker Revenue** | - | ||
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
| ||||
| ProCent | |
| Forex | 37.50% Of the Broker Revenue** |
| Metals | 37.50% Of the Broker Revenue** |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
| Pro | |
| Forex | 37.50% Of the Broker Revenue** |
| Oil / Energies | 37.50% Of the Broker Revenue** |
| Metals | 37.50% Of the Broker Revenue** |
| Shares / Equities | 37.50% Of the Broker Revenue** |
| Indices | 37.50% Of the Broker Revenue** |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
| ECN | |
| Forex | 37.50% Of the Broker Revenue** |
| Oil / Energies | 37.50% Of the Broker Revenue** |
| Metals | 37.50% Of the Broker Revenue** |
| Shares / Equities | 37.50% Of the Broker Revenue** |
| Indices | 37.50% Of the Broker Revenue** |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
| R Trader | |
| Forex | 37.50% Of the Broker Revenue** |
| Oil / Energies | 37.50% Of the Broker Revenue** |
| Metals | 37.50% Of the Broker Revenue** |
| Shares / Equities | 37.50% Of the Broker Revenue** |
| Indices | 37.50% Of the Broker Revenue** |
| ETFs | 37.50% Of the Broker Revenue** |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
| Prime | |
| Forex | 15% Of the Broker Revenue** |
| Oil / Energies | 15% Of the Broker Revenue** |
| Metals | 15% Of the Broker Revenue** |
| Shares / Equities | 15% Of the Broker Revenue** |
| Indices | 15% Of the Broker Revenue** |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
Notes
Cent Affiliate, Pro Affiliate and ECN Affiliate accounts offered by the broker, yet not offered on our website, contain intentionally increased spread values and commissions for a transaction.
These accounts are against our no markup policy and will only be verified at your specific request. See the difference in trading conditions via the link on Broker revenue note below.
* Some exclusions may apply
**Broker revenue can be found on the RoboForex Contract Specifications web page.
What are RoboForex rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do RoboForex rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much RoboForex rebates can I earn?
RoboForex Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| RoboForex Ltd |
|
|
|
|
2000 : 1 |
RoboForex Symbols
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