In the current forex trading market, it is challenging to find a broker that is both reputable and offers valuable service quality. However, it doesn’t mean that such forex brokers do not exist. RoboForex is a name we will discuss in the following review, so let’s take a look to have another excellent option to consider!
RoboForex, a forex broker, started its operations in 2009 and is regulated by the IFSC with license number 000138/333. Since its establishment, RoboForex has been dedicated to providing the best trading conditions using advanced technology and years of experience. As an international broker, RoboForex offers 8 types of assets and over 12,000 instruments for trading. It has attracted over 800,000 customers from 169 countries and has gained recognition from top experts in the financial market through 30 prestigious awards.
Is RoboForex trustworthy?
RoboForex is indeed a reputable forex platform in the market, clearly evidenced by the licenses it holds from leading financial regulatory bodies. Additionally, the platform offers investor-friendly policies and insurance programs. Specifically:
- RoboMarkets Ltd is the managing company behind the website robomarkets.com, established in 2012 and licensed by CySEC – the Cyprus Securities and Exchange Commission, under license number 191/13.
- RoboForex Ltd is the managing company behind the website roboforex.com, established in 2009 and regulated by the IFSC – the International Financial Services Commission of Belize, under license number IFSC/60/271/TS
- RoboForex Ltd holds a special brokerage license from the FSC Belize for “Trading in financial and derivative instruments based on commodities and other securities,” under license number 000138/333.
Furthermore, RoboForex Ltd is an official member of the Financial Commission, an international organization that resolves disputes between its members and their clients. This commission boasts an impressive compensation fund and comprises brokerage industry experts from around the world. As a member of Group A within the Financial Commission, RoboForex Ltd is also a member of the Compensation Fund, providing insurance coverage of up to 20,000 EUR per case if a member refuses to comply with the Financial Commission’s rulings.
Civil Liability Insurance Program
RoboForex has implemented a Civil Liability Insurance Program with a coverage limit of 5,000,000 EUR. This program includes top-tier market insurance against deficiencies, fraud, errors, negligence, and other risks that could lead to financial losses for customers.
Verify My Trade (VMT)
RoboForex Ltd has received the execution quality certification from Verify My Trade (VMT), confirming compliance with the strict requirements of the Financial Commission for its member brokers. This means that RoboForex Ltd is required to submit 5,000 personalized customer trades for analysis every month. These trades are then compared to the results of other brokers, resulting in a certification of service quality.
Types of Trading Accounts at RoboForex
Continuing to demonstrate its professionalism, RoboForex offers up to 5 types of trading accounts with highly attractive conditions, appealing to traders of various skill levels. These account types include Prime, ECN, R StocksTrader, ProCent, and Pro.
| Accounts | Prime | ECN | R StocksTrader | ProCent | Pro |
| Platform | MT4, MT5RStocksTrader | MT4, MT5RStocksTradercTrader | RStocksTrader | MT4, MT5RStocksTrader | MT4, MT5RStocksTradercTrader |
| Deposit | 10 USD/10 EUR | 10 USD/10 EUR | 100 USD | 10 USD/10 EUR | 10 USD/10 EUR |
| Spread | từ 0 pip | từ 0 pip | từ 0.01 USD | từ 1.3 pip | từ 1.3 pip |
| Commission | ✔ | ✔ | ✔ | x | x |
| Leverage | 1:300 | 1:500 | 1:300 | 1:2000 | 1:2000 |
| Volume | 0.01 – 500 lot | 0.01 – 500 lot | 0.1 – 10.000 lot | 0.01 – 500 lot | |
| Stop out | 100% | 40% | 20% | 10% | 20% |
- Prime Account: This trading account offers the best trading conditions at RoboForex, similar to liquidity providers, and is designed for advanced traders
- ECN Account: Designed for experts and those who prefer the best available trading conditions (lowest spreads, high order execution speed).
- R StocksTrader Account: This account is for trading stocks exclusively through the multi-asset web platform R StocksTrader. It’s designed for experienced traders who want to access major financial markets from a single account.
- ProCent Account: The key feature of this account is using cents as the base currency unit (US Cents, EU Cents, etc.). By using the ProCent account, both beginners and experienced traders can test their trading strategies.
-
Pro Account: The most popular account type at RoboForex, offering optimal trading conditions suitable for both beginners and experienced traders.
Transaction Fees and Leverage at RoboForex
Spread
RoboForex offers variable spreads starting from 0.0 pips. However, in real trading conditions, market fluctuations often result in spreads higher than this theoretical minimum, and there can be differences between account types. You can refer to the spreads of some major currency pairs in the table below!
|
Major Currency Pairs |
ProCent/Pro | ECN/Prime |
| AUDUSD | 2.1 | 0.5 |
| GBPUSD | 2.0 | 0.7 |
| EURUSD | 1.4 | 0.1 |
| NZDUSD | 1.9 | 0.7 |
| USDCAD | 2.2 | 0.7 |
| USDJPY | 2.0 | 0.4 |
| USDCHF | 2.3 | 0.7 |
Commission (Hoa hồng)
RoboForex only charges commissions on Prime, ECN, and R Stocks Trader accounts, while ProCent and Pro accounts have no commission. Detailed commission rates for Prime and ECN accounts for each product can be found here.
Commission rates for R Stocks Trader account are as follows:
- US Stocks (Deposit from 10,000 USD): $0.009 per stock
- US Stocks: $0.025 per stock
- CFD on US Stocks: $0.02 per stock
- CFD on European Stocks: 0.07%
- Forex: $15 per 1 million base currency units
- Indices: Variable
Minimum Commission:
- US Stocks (Deposit from 10,000 USD): $0.5
- US Stocks: $2
- CFD on US Stocks: $2
- CFD on European Stocks: 2.8 EUR / 2.8 GBP / 40 NOK / 40 SEK / 30 DKK
- Forex –
- Indices: $1
Leverage
The maximum leverage supported at RoboForex is 1:2000. This leverage ratio provides a favorable balance between profit potential and risk management for all traders.
Specifically, leverage for the R Stocks Trader account varies among different products:
- US Stocks (Deposit from 10,000 USD): up to 1:20 (or as requested)
- US Stocks: 1:2
- CFD on US Stocks: up to 1:20
- CFD on European Stocks: up to 1:5
- Forex: up to 1:300
- Indices: 1:100
RoboForex Trading Products
RoboForex clients can choose from a variety of trading instruments across different asset classes, including forex, indices, stocks, ETFs, commodities, metals, energy, and cryptocurrencies.
| Products | Quantity |
| Forex | Over 40 currency pairs, including majors, crosses, and exotics |
| Indices | More than 10 different indices like SPX, NASDAQ, Dow Jones… |
| Stocks | Over 3,000 real stocks of US companies and over 8,400 CFDs on US stocks |
| Commodities | 100+ soft commodities: cocoa, coffee, corn, wheat, sugar, soybeans, and fruits… |
| ETFs | Over 1,000 different ETFs, including popular ones like FITS (The Health and Fitness ETF), SPY (SPDR S&P 500 ETF) |
| Metals Gold | (XAU/USD), Silver (XAG/USD), and ETFs on gold, palladium, platinum, and silver. Energy Invest in ETFs and CFDs on energy commodities, such as crude oil, heating oil, natural gas, and ethanol. |
| Energy | Invest in ETFs and CFDs on energy commodities, such as crude oil, heating oil, natural gas, and ethanol. |
| Cryptocurrencies | 23 cryptocurrency pairs including Bitcoin, Solana, Ethereum, traded 24/7. |
Trading Platforms at RoboForex
At RoboForex, investors have the opportunity to access advanced and modern trading software, including MT4, MT5, cTrader, and a platform specifically designed for stock trading – R StocksTrader.
MT4 Software
MT4 is a familiar platform for forex traders, offering all the necessary features and tools for both beginners and experienced traders in the financial market. Furthermore, the terminal software includes integrated functions and opportunities, especially tailored for the MQL platform.
Key Features of MT4 at RoboForex:
- 3 order execution modes
- 50 ready-to-use indicators for technical analysis
- Basic tools for graphical analysis
- Opportunity to program your own trading robots
- One-click trading
- Algorithmic trading
- Fundamental analysis
You can download MT4 to your computer, mobile phone, or trade directly on the web platform without needing to download and install the software.
MT5 Software
MetaTrader 5 is one of the most advanced platforms for creating and testing trading robots and strategies. If you value speed and reliability when working with trading robots and want to utilize the latest and most updated technologies, MetaTrader 5 is the best choice for you
Features of MT5 at RoboForex:
- 4 order execution modes
- Multi-currency testing tool
- Market depth
- 6 types of pending orders
- Flexible trading system
- Algorithmic trading
- Virtual hosting
Similar to MT4, you can download MT5 to your computer, mobile phone, or trade directly on the web platform without needing to download and install the softw
cTrader
cTrader is a platform designed for experienced traders who value order execution speed and unique tools to implement their trading strategies.
The cTrader mobile platform is supported in 22 languages and offers convenient chart management and in-app notifications. The web-based cTrader platform is an excellent choice for traders who prefer the flexibility and independence of a web interface over traditional software. All the functionalities of the desktop platform are supported by any web browser, making it an optimal solution for macOS users as well.
R StocksTrader
R StocksTrader is a fusion of advanced technology and a classically designed interface brought to an entirely new level. No additional software or unnecessary updates are needed – R StocksTrader provides access to global financial markets through a web-based terminal in a web browser.
The unique tools within the R StocksTrader terminal allow you to build, launch, and test your trading strategies. You will have the opportunity to create effective trading algorithms with simple features and functions to help reduce manual trading time.
RoboForex Terminal Software
The terminal software for web and mobile applications is RoboForex’s exclusive solution. R WebTrader and R MobileTrader offer traders numerous benefits, including:
- 13 technical indicators
- 9 graphical analysis tools
- Convenient account management
- Analysis from RoboForex experts
- Completely free
- Quick account funding
- Market analysis and news
- Swift account switching
Deposits and Withdrawals at RoboForex
RoboForex supports a variety of payment methods, including bank transfers (Bank Transfer – SEPA, ThunderX – QR-code, Eximbank, TPBank, Vietcombank, Techcombank, etc.), digital wallet payments (Skrill, Neteller, NganLuong Wallet, Perfect Money, etc.), and bank cards.
At the same time, deposit into your account without additional fees and withdraw funds without commissions during the “Free Withdrawal” promotion.
Customer Support Services at RoboForex
The official RoboForex website supports 17 different languages, including Vietnamese. Additionally, the platform offers 24/7 customer service through Livechat. When you ask questions directly, the platform will guide you to an IB link and provide support via Zalo, which is convenient and quick for Vietnamese traders to get their inquiries addressed.
Moreover, you can call the hotline at +84869402418, and the Online Support Specialists will be ready to answer your questions in over 10 languages at any time.
Summary of Pros and Cons of RoboForex
- Licensed by CySEC and IFSC
- Account protection policy against negative balance and Civil Liability insurance program
- Diverse trading account options suitable for various customer segments
- Dedicated account for stock trading – R StocksTrader
- Support for a wide range of popular trading assets
- High leverage ratio up to 1:2000
- Advanced and modern trading platforms
- Variety of deposit/withdrawal methods
- Low minimum deposit starting from only 10 USD
- 24/7 customer support in Vietnamese via email, phone, and live chat
- Prime, ECN, and R-Trader accounts offer lower leverage
- High variable spreads for accounts targeting new traders with lower capital, such as Pro and Pro-Cent accounts.
Closing Remarks
From the detailed review of RoboForex above, it’s evident that this is a reputable and fairly high-quality forex broker in the market. With advantages like Vietnamese support and a variety of payment options in VND, the broker is showing strong growth in the Vietnamese market. Therefore, it’s important to carefully consider and weigh your options before making a decision. Wishing you success!
