RoboForex Review - ✅ 100% Legit Broker May 2024

Ratings and Reputation

RoboForex earns 4 out of 5 stars for overall user rating based on key features. On TrustPilot, with over 380 reviews, RoboForex has a 4.2 out 5 star rating, demonstrating positive sentiments from both past and existing users. As a member of The Financial Commission with $20K insurance on client funds, RoboForex exhibits adequate trustworthiness.

Trading Offerings

RoboForex offers CFD trading across forex with 36 major, minor and exotic currency pairs, global indices like S&P 500 and FTSE 100, commodities including gold and oil, and cryptocurrency CFD contracts. Though actual equities and cryptocurrency trading is not offered. Traders can take advantage of up to 1:2000 leverage on certain contracts like major currency pairs and gold. RoboForex services both scalpers and algorithmic traders through its infrastructure.

Fees and Commissions

RoboForex has a $100 minimum deposit requirement and spreads starting from 1.4 pips on EUR/USD. Funding an account is easy through multiple channels like PayPal, Skrill, Visa/Mastercard credit cards, and bank wires. RoboForex uses a market maker execution model, meaning traders' profits come out of RoboForex profits. Though this could pose a conflict of interest, regulation helps keep trading fair.

Trading Platforms

RoboForex offers the popular MetaTrader 4 and MetaTrader 5 platforms built for forex and CFD traders. The web platform provides quick access through any browser while desktop platforms enable installing advanced charting packages and integration with trading bots/EAs. Mobile apps are available as well with 30+ technical indicators. Though lacking its own platform, RoboForex makes up by integrating MT4/5.

Research and Analysis

RoboForex provides traders access to live breaking news from top tier sources, economic calendar tracking high impact events, and daily video updates from the RoboForex analyst team. Additionally, an education suite helps beginner traders learn with training ebooks, videos and guides on technical and fundamental analysis. Though advanced research tools like Trading Central's quant analysis are missing.

Regulation and Safety

RoboForex follows regulation stipulated in Belize to maintain operational compliance. Through regulation, traders get access to a secure trading infrastructure, regular audits, and multiple account protections. Further assurance comes from The Financial Commission membership and protection of up to $20,000 per trader through insurance. Benchmark reporting, segregated accounts and SSL encryption provide operational transparency.

Pros of RoboForex

• Low minimum deposit requirement at $100
• Trust through multi-tier regulation and external validation
• Access to popular MetaTrader platform with 1000+ technical indicators
• Active trader friendly infrastructure with high leverage
• Array of funding and withdrawal methods including PayPal
• Focus on beginner education through training materials

Cons

• No trading offered on actual equities or cryptocurrencies
• Limited research tools compared to competitors
• Navigating between two complex platforms MT4 and MT5
• No guaranteed stop loss order support
• Conflict of interest through the market maker model

Final Words

For traders seeking CFD instruments to capitalize on short-term opportunities, RoboForex delivers through its compliance, funding flexibility and commitment to education. The dual MetaTrader platforms cater efficiently to hundreds of thousands retail clients without restrictions. Though several gaps exist on proprietary research, actual crypto and stock trading, and latest MT5 upgrades, RoboForex has managed to create a brand of its own. As the brokerage expands into new geographic regions, addressing these gaps will further boost its value proposition for online traders globally.

RoboForex Details

Primary Category	Forex
Secondary Category	CFD Trading
Website	https://roboforex.com/
Affiliate Program	Available
Monthly visits	5200K

Screenshot of RoboForex