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RoboForex Review

Roboforex Review


RoboForex is a global, multi-asset retail brokerage that was founded in 2009. Clients have a choice of multiple trading platforms and access to 7 asset classes and more than 12 000 instruments for trading. RoboForex offers forex trading on 40 currency pairs and CFDs on stocks, indices, commodities, metals and energy. RoboForex also offers ETFs which is an instrument that allows you to trade several assets as one stock.


🔎 Broker🥇 Roboforex
⚖️ Regulating AuthoritiesIFSC
🌐 Countries not accepted for tradeUS, Canada, Australia, and Japan
☪️ Islamic account (swap-free)✔️ Yes
👍 Demo Account✔️ Yes
📈 Maximum Leverage1:2000
💰 Minimum Deposit$10 USD / R160 ZAR
💻 Platform TypesMT4, MT5, cTrader
🚀 Open an Account👉 Click Here


Overall Rating


Rated #57 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators


📱 Trading Desk

MetaTrader 4



📈 Total Pairs


☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


RoboForex Review – 10 Key Point Quick Overview


Who owns RoboForex?

RoboForex Landing Page


RoboForex is part of RoboForex Global that was established in 2009. RoboForex Global headquarters are based in Belize City, Belize. The brokerage group has representative offices in the major forex trading jurisdictions.


Is RoboForex regulated?

roboforex regulation


Yes, RoboForex is regulated by IFSC Belize under the number 000138/210. IFSC Belize (International Financial Services Commission Belize) is a Belizean regulator in the financial services market.


RoboForex is also a member of and regulated by The Financial Commission. RoboForex is covered by the Financial Commission Compensation Fund and provides access to execution quality certificates with Verify My Trade.


IFSC Belize

The International Financial Services Commission (the “IFSC”) is a statutory body established under the International Financial Services Commission Act to regulate and supervise the international financial services sector.


The IFSC comes under the portfolio responsibility of the Minister of Finance. The Minister has the power to appoint the chairperson from amongst any of the public sector members of the Commission. The Director General of the Commission is the Chief Executive Officer who is appointed by the Commission with the approval of the Minister.


IFSC Belize follows the international AML (Anti-money laundering) policy.


The Financial Commission

The Financial Commission is the first of its kind independent external dispute resolution body dedicated specifically to Forex that ensures that traders are getting their disputes resolved in a quick, efficient, unbiased and authentic manner.


The Financial Commission has united independent, top industry professionals and created the most efficient Dispute Resolution Committee that can help resolve any dispute arising in the forex trading sector and provide a professional and unbiased opinion for disputes in digital currency trading.


Is RoboForex regulated in South Africa?

No, RoboForex is not regulated in South Africa by the Financial Sector Conduct Authority (FSCA).


Is RoboForex legit?

is roboforex legit


Yes, RoboForex is a legitimate forex and CFDs broker and electronic trading platform. It is regulated under license to perform forex broker and multi-asset trading services by a recognised regulatory authority and is covered by the Financial Commission Compensation Fund.

RoboForex provides further security of client funds by:

➡️️​ holding client funds in segregated accounts from company funds

➡️️​ providing a negative balance protection policy

➡️️​ having Civil Liability Insurance program in place

➡️️​ participating in the Financial Commission Compensation Fund

➡️️​ executing quality certificate from Verify My Trade


Is RoboForex a good broker?

In terms of security, state-of-the-art electronic trading platform options, research and education; RoboForex is rated highly as a trusted broker. RoboForex has been in business since 2009 and has established itself as a regulation-compliant forex and CFDs broker that is safe to use by traders in Africa.


RoboForex security features


In terms of security, RoboForex is regulatory compliant and has put in place recognised processes to keep your information and money secure so you can trade forex and CFDs with peace of mind.

Regulated broker

RoboForex Ltd is an international Forex broker that holds a special brokerage license at IFSC Belize “Trading in financial and commodity-based derivative instruments and other securities”, number 000138/210.

Membership of the Compensation Fund of The Financial Commission

RoboForex Ltd is a Member of the Compensation Fund of The Financial Commission. The Compensation Fund provides protection up to €20 000 per case should a Member refuse to adhere to a judgment from the Financial Commission.

Verify My Trade (VMT)

RoboForex Ltd has received the execution quality certificate Verify My Trade (VMT) that confirms its compliance with the strict requirements of the Financial Commission to its member brokers.

Negative Balance Protection

RoboForex Ltd automatically tops up the balance to 0 and the client doesn’t pay anything in the case where market volatility doesn’t allow the client to keep a positive balance on his/her trading account.

Membership of The Financial Commission

RoboForex Ltd is a member “A” of The Financial Commission. The purpose of the Commission is to allow for alternative pre-trial settlement of disputes between traders and brokerage companies.

Market-leading insurance

RoboForex has implemented a Civil Liability insurance program for a limit of 5 million EUR which includes market-leading coverage against omissions, fraud, errors, negligence, and other risks that may lead to financial losses of clients.

Two-step authentication

RoboForex requires two-step authentication to enhance the security of the information in your Members Area and to protect your personal information and funds from hackers using SMS and backup codes.


Overall Rating


Rated #57 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators


📱 Trading Desk

MetaTrader 4



📈 Total Pairs


☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


RoboForex trading platforms

RoboForex Live Trading Accounts


RoboForex offers multiple trading platforms, including the CopyFX platform for investors. RoboForex is primarily a MetaTrader broker and offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5).


MetaTrader 4

MetaTrader is an electronic trading platform that was pioneered by the developers, MetaQuotes Software. The software company has released a number of versions since it started up in 2002 but hit the jackpot with a significantly enhanced version called MetaTrader 4 that it took to market in 2005. In 2010, MetaQuotes Software introduced the significantly re-coded MetaTrader 5.


Today, MetaTrader 4 (MT4) is one of the most widely-used online trading platforms for retail foreign exchange (forex) speculative traders. MetaTrader 5 (MT5) is a more advanced trading platform and is growing in popularity as investors find value in its superior features.


MetaTrader 5

MT4 and MT5 both provide forex traders with an advanced automated trading system supplemented with advanced technical analysis features and expert advisors. MT4 was built almost entirely for forex trading, where MT5 functions to provide traders with access to CFDs, stock and futures. Bear in mind, MT5 is not an upgrade of MT4, it has its own function.


MT4 is simpler to use and more suitable for investors who are new to trading in forex. MT5 is a more versatile trading platform with advance features and suitable for investors who are trading across a broader platform than forex.



cTrader is a platform for experienced traders who prefer order execution speed and unconventional instruments to implement their trading strategies. The RoboForex cTrader trading platform is available for desktop download and via web browser and offers features such as:

➡️️​ rare types of order functionality

➡️️​ level ii pricing

➡️️​ 54 technical indicators

➡️️​ 14 timeframes


RoboForex R Trader

The RoboForex R Trader platform is available via web browser and offers the following features:

➡️️​ no download required

➡️️​ trade on more than 12 000+ markets

➡️️​ track corporate actions

➡️️​ level II market depth and time and sales

➡️️​ trading robot builder

➡️️​ initial deposit is 100 USD

➡️️​ stocks leverage is up to 1:20

➡️️​ advanced watchlists


RoboForex CopyFX

CopyFX is a copy-trading investment platform developed by RoboForex Global. CopyFX allows you to access the forex market as an investor or become a manager. It is suitable for both beginners and experienced traders.


RoboForex research resources

roboforex research


RoboForex provides access to a wide variety of research which includes a blog, forex analysis and forecast articles. RoboForex offers clients its own RoboForex Analytics Center which provides market sentiment, analytical reviews, trading signals, videos and an Economic Calendar.


Subscription to the RoboForex Analytics Center is free and the subscription period is unlimited.


RoboForex education resources

RoboForex provides access to an impressive range of educational videos covering a wide amount of topics. This includes trading guides and strategies, economic indicators and an online trading video course.


These RoboForex video tutorials are particularly useful to beginners because they are dedicated to basics of trading on the forex market, different aspects of technical and fundamental analysis, the psychology of trading, and risk management.


RoboForex video tutorial are available for free: login to your Members Area and go to the Education section of RoboForex Analytics Center.


What products does RoboForex offer?

RoboForex offers access to 7 asset classes via multiple trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The asset classes include Forex, Stocks, Indices, ETFs, Soft Commodities, Energies and Metals.

ForexMore than 40 currency pairs
StocksCFDs on stocks of Amazon, Facebook, Siemens and more than 12 000 other instruments
IndicesTrading instruments which consist of a group of bonds and show changes in their prices; examples of indices include the FTSE 100 (UK100), Dow Jones, the DAX and NASDAQ100
ETFsMore than 1 000 different ETFs, including FITS, SPY, USMV and UUP
Soft commoditiesInvest into ETFs on cocoa, coffee, corn, wheat, sugar, soybean, fruit and more
EnergiesETFs and CFDs on heating oil, oil, natural gas and ethanol
MetalsInvest in Gold (XAU/USD), Silver (XAG/USD) and ETFs on gold, palladium, platinum and silver


Does RoboForex offer cryptocurrency trading

Yes, RoboForex offers cryptocurrency trading on its MT4 and MT5 trading platforms as CFDs. Traders cannot buy and sell the underlying asset (e.g. Bitcoin, Ethereum).

In March 2023, RoboForex announced its decision to cut down the list of cryptocurrencies and crypto-indexes available for trading in MetaTrader 4, MetaTrader 5 and R Trader.


Does RoboForex offer social trading?

Yes, RoboForex offers social trading through the CopyFX trading platform. CopyFX was developed by the RoboForex Group to simplify the trading process for its clients, allow them to manage their own risks more accurately as well as share their trading experience for additional profits.


Does RoboForex have Nasdaq?

Yes, RoboForex offers trading in the NASDAQ 100 technology stock index, accessible as CFDs. RoboForex offers a free video course on trading on NASDAQ and NYSE stock exchanges. These lessons help clients to go deep into data analysis, find out about specifics of working with different instruments and learn how to create trading strategies.


The NASDAQ Composite Index is arguably the most significant large-cap growth index in the world. The Index comprises 100 mega companies – domestic and foreign – listed on the premier index, the NASDAQ, aka US_Tech100.


The NASDAQ Composite Index (US_Tech 100) has outperformed the S&P 500 index 10 times over in the past 12 years (as at March 2023). By the end of 2019, the market capitalization of the NASDAQ was $9.8 trillion. By 2023, that figure had increased substantially.


What awards has RoboForex received recently?

roboforex awards


RoboForex is an award-winning forex broker and the recipient of more than 10 prestigious awards.

Best Mobile Trading App2021 Global Forex Awards - B2B
Best Investment Products2020 Global Brands Magazine Awards
Best Partnership Program (LATAM)2020 Global Banking & Finance Awards
Most Trusted Broker2020 International Business Magazine Awards
Most Transparent Asian Forex Broker2020 Global Forex Awards Retail
Best Global Mobile Trading App2020 Global Forex Awards B2B


How to use RoboForex to trade forex and CFDs

Traders and investors cannot directly access the forex market. They must trade through a trading platform hosted by a regulated forex and CFDs broker.


To start trading the financial markets with RoboForex, you need to register an account, choose a trading platform, an account base currency and a leverage value. Once you’ve decided how and what you will trade, you can open a corresponding RoboForex trading account.


After signing up with RoboForex, you will receive your login credentials via email. You are required by law to verify your account by uploading copies of your identity documents. You can then deposit funds into your trading account and start trading.


Overall Rating


Rated #57 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators


📱 Trading Desk

MetaTrader 4



📈 Total Pairs


☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


How to open a forex trader account with RoboForex

To open a forex trading account with RoboForex, follow the simple steps below:


Step 1:  Sign Up

To start the registration process, simply click on the green open trading account button on their official website –



RoboForex Account Registration 1


Step 2: Complete the Registration Form.

Complete the simple registration form and click on the Registration button below the online form.


RoboForex Account Registration 2


Step 3: Deposit

Now the applicant can make their first deposit and start to trade.


RoboForex Account Registration 3


What types of accounts does RoboForex offer?

RoboForex offers 5 main types of trading accounts; Prime, ECN, R Trader, ProCent and Pro. RoboForex also offers demo trading accounts and Islamic swap-free accounts. Each RoboForex account type has different features and conditions which are suitable for different types of forex traders.


Prime accountFor experienced traders to trade on multiple asset classes with up to 300:1 leverage, with floating spreads from 0 pips with commissions payable. The minimum deposit is 10 USD/EUR.
ECN accountFor professional traders who want the tightest spreads and high execution speeds to trade on multiple asset classes with up to 500:1 leverage, with floating spreads from 0 pips and commissions payable. The minimum deposit is 10 USD/EUR.
R TraderFor multi-asset class stock trading for experienced traders to access 12 000 plus markets with a maximum leverage of 300:1 and commissions payable. Minimum deposit 100 USD.
ProCentFor traders who want to use cents as the base currency; recommended for beginner traders. Maximum leverage is 2000:1 with floating spreads from 1.3 pips and a minimum deposit of 10 USD/EUR.
ProFor the most optimal trading conditions to trade on multiple asset classes with a maximum leverage of 2000:1 and floating spreads from 1.3 pips and a minimum deposit of 10 USD/EUR.


Does RoboForex offer a free demo account?

Yes, RoboForex offers a free demo account. Clients can register and sign up for a free demo account which is instantly available to start trading virtual (fake) money. It gives clients access to the forex and CFDs market which can be traded in real time under real market conditions but with zero risk of losing real money on a forex trade order.


Once beginner traders have spent time learning how to trade on a free demo account, they progress to opening a mini-trading account that requires only a small amount of capital.


Does RoboForex offer an Islamic account?

Yes, RoboForex offers an Islamic trading account. This is known as a ‘no swap account’ because the accounts charge no swap or rollover interest on positions held overnight in the forex market. Only an administration fee is charged on open positions.


Islamic trading accounts are only offered to clients of the Muslim faith as it allows them to engage in online forex trading while conforming to Sharia Law.


After you’ve funded your RoboForex account, you can apply for an Islamic account. The request will then be forwarded to the relevant department for review and approval. Requests are usually processed within 1-2 business days.


How to deposit money into a RoboForex account

Funds can be deposited into a RoboForex trading account in multiple ways; via credit and debit cards, bank wire transfer and eWallet payment methods such as Neteller, Skrill, Fasapay, POLi, China UnionPay, AdvCash, AstroPay and others.


How to withdraw money from your RoboForex account

RoboForex offers traders more than 20 methods to withdraw funds. You can withdraw funds from your account in your Members Area.

To do this:

  • go to “Withdraw Funds”
  • make sure that the active account in your Members Area is the one you want to withdraw funds from
  • choose the payment system from the list of available withdrawal options
  • click “Go to”
  • depending on the chosen payment system, you may be asked to specify some additional information on the next page to create a withdrawal application


How many days do RoboForex withdrawals take?

Withdrawal applications should be processed by RoboForex within two business days from 9h00 to 18h00 (EET). If you have any queries at any step of the withdrawal procedure, you can contact RoboForex Live Support.


Otherwise, you can use the RoboForex automatic withdrawal system. This service reduces the fund transfer time up to 1 minute. Requests are processed in working hours as well as on weekends, public holidays, and after trading sessions have closed.


What are RoboForex’s fees for deposits and withdrawals?

RoboForex offers 0% commissions on deposits and withdrawals. Roboforex covers all expenses for depositing funds into accounts and making withdrawals.


RoboForex offers a Withdrawal Without Commission feature. You can withdraw funds from your account with no commissions twice a month. This service works on a permanent basis and allows RoboForex traders to withdraw funds from their accounts without paying any commission on the first and the third Tuesday of each calendar month.


What are the trading fees of RoboForex?

RoboForex has mixed fees with non-commission and commission-based accounts. Commissions and spreads depend on the type of account you open. RoboForex does not charge any account fees and deposits and withdrawals are free of charge.


Prime account Commission of $10 per million traded on Forex pairs

Commission of $4 per million traded on CFD Indices and Energies

Commission of $150 per million traded on US Stock CFDs

Pro Cent Commission-free with spreads and swaps payable
Pro Standard Commission-free with spreads and swaps payable
ECN account Commission of $20 per million traded on forex pairs

Commission of $5 per million traded on CFD Indices and Energies

Commission of $200 per million traded on US Stock CFDs

R Trader account US Stocks Pro commission of 0.0045 USD per share with a minimum commission of 0.25 USD with a maximum leverage of 20:1.

US Stocks commission of 0.02 USD per share with 1.5 USD minimum with a maximum leverage of 2:1.

US Stock CFDs commission of 0.015 per share with 1.5 USD minimum with a maximum leverage of 20:1


What is the minimum deposit for a RoboForex trading account?

The minimum deposit for a RoboForex trading account depends on the type of account.

Pro Cent



10 USD/10 EUR or equivalent in the account currency
Prime 5 000 USD or equivalent in the account currency
R Trader 100 USD / 100 EUR


What are the contract specifications for forex trading on RoboForex platforms?

  1. Forex spread calculation

RoboForex trading conditions display the standard bid-ask spread (pips) for forex instruments unless otherwise stated. Standard spreads are as stated under normal market conditions. Spreads can widen depending on market conditions.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Secondary Currency*

*Secondary Currency is the Second Currency quoted in an FX pair (CUR1/CUR2 USD/JPY, EUR/USD, etc.)


For a 1 000 EUR/USD trade with a spread of 3 pips (0.0003), the calculation is as follows:

0.0003 X 1 000 = $0.30*

  1. Bid-Ask spread and commissions

RoboForex is compensated through the bid-ask spread, except when otherwise stated. RoboForex does not charge commissions on any trade.

  1. Forex margin/leverage calculation

All instruments are traded on margin allowing you to leverage your positions. RoboForex trading conditions display both margin and leverage amounts. Margin is displayed as a percentage (%) while leverage is displayed as a ratio.

Percentage Margin Formula:

Trade size x margin (%) = Margin required in primary currency*

Leverage margin formula:

Trade size / leverage = Margin required in primary currency*

*Primary currency is the first currency quoted in a forex pair


For a 1 000 EUR/USD trade with a margin requirement of 0.50% or leverage of 200:1, the calculation is as follows:

Percentage margin requirement:  1 000 x 0.005 = €5.00

Leverage Margin Requirement:  1 000 / 200 = €5.00

  1. Forex buy/sell overnight interest calculation

RoboForex trading conditions display the Over-Night (O/N) interest rates charged/paid on a daily basis for holding a position open past our End of Day time. These rates are displayed in the Overnight Interest – Buy and Overnight Interest – Sell” columns.

End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

You can use the following formula to calculate your Daily Overnight Interest amount:

Trade amount x daily overnight interest = Daily overnight interest charged/paid*

*Overnight interest charged/paid will be calculated in the primary currency. Primary currency is the first currency quoted in a forex pair.


For a 1 000 EUR/USD trade with a daily overnight interest buy (or sell) rate of -0.0053% and subject to a charge for 1 day, the calculation is as follows:

1 000 x -0.000053 = -0.053 = -€0.05* rounded

Note: RoboForex platforms display overnight interest (swaps) in annualised terms.


Overall Rating


Rated #57 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators


📱 Trading Desk

MetaTrader 4



📈 Total Pairs


☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


FAQs about RoboForex

Does RoboForex have a Welcome Bonus?

Yes, RoboForex offers a Welcome Bonus. You get 30 USD when you register with RoboForex for the first time; after your personal information has been verified and your account opened.

Follow these 3 simple steps to get your RoboForex Welcome Bonus:

  1. Open an account: bonus funds are available for cent and standard MT4/MT5-based accounts with USD or EUR as a base currency.
  2. Verify your account: complete the verification procedure by supplying proof of identity, address and a phone number in your Members Area.
  3. Deposit funds to your account: deposit at least 10 USD to your account via a bank card*.

Note: The RoboForex Welcome Bonus may not be applicable in your jurisdiction.


Can I start trading with no money in my RoboForex live account?

No, you cannot start trading if you have not deposited the required minimum balance in your RoboForex live account. You can only trade with no deposit on a free demo account but you are practicing to trade with ‘fake’ money and do not earn profits from any trades.


What leverage does RoboForex offer?

RoboForex offers maximum leverage up to 1000:1 on certain trading accounts.


Where is RoboForex’s headquarters based?

Registered address: 2118 Guava Street, Belama Phase 1, Belize City, Belize

Business address: 9724 Ramiro Duran Street, Belize City, Belize

Telephone: +65 3158 8389



Who is the CEO of RoboForex?

The CEO of RoboForex Global is Rudolph Simmons.


Does RoboForex offer online support?

Yes, RoboForex offers dedicated online Customer Service support for its forex traders in 14 languages via Live Chat on their website. Live Chat is available 24-hours a day on the 5 working days. You can also contact RoboForex Customer Services via email or telephone.


Does RoboForex offer a demo account for forex traders?

Yes, RoboForex offers a free demo account to registered clients.

A demo trading account is a type of forex trading account that is funded with entirely virtual money, but still includes all of the functionalities and technical indicators as a live account. It’s the perfect tool for beginner forex traders because you can become familiar with trading strategies and indicators in real time on your trading platform before you start trading with real money.


Does RoboForex have a mobile app for forex trading?

Yes, RoboForex offers an award-winning mobile app for forex trading.


Does RoboForex publish an Economic Calendar?

Yes, RoboForex publishes an Economic Calendar.

The RoboForex global Economic Calendar comprises routine financial events which affect the financial markets. The events on the RoboForex Economic Calendar are pre-scheduled and include statements made by countries and other leading players in the financial arena such as central banks, the International Monetary Fund (IMF) and governments.

Skilled traders anticipate these events and plan their trades in accordance. Each of these newsworthy economic events can create changes in the value of different financial assets and positions on forex trading.


How to communicate with RoboForex

RoboForex provides dedicated Customer Services in more than 14 languages. You can contact a RoboForex representative via email, telephone or Live Chat on the website.

Telephone and email details for each country can be found on the RoboForex Contact us page.


The international phone number for RoboForex Global

+65 3158 8389


Email address for RoboForex Global



Forex is a complex instrument and trading forex involves a high risk of losing money rapidly due to leverage. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.


Forex Trading Africa annually reviews brokers regarded as the best in the world and provides information on the tools, market analysis and service they offer. We aim to provide important information for you to base your decisions on when choosing the right forex broker for your needs.

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