RoboForex is a global FX and CFD broker that provides online trading services to clients worldwide. With low spreads and fast execution on a MetaTrader platform, RoboForex appeals to active traders seeking a reputable broker.
But an important question for any broker is – is RoboForex regulated?
Regulation provides oversight and protects traders, so it’s critical to understand a broker’s licenses.
This comprehensive guide examines RoboForex’s regulation and safety for trading. We’ll cover:
- RoboForex Regulation and Licenses
- Legal Entities and Corporate Structure
- Client Asset Segregation and Protection
- Trading Platforms and Tools
- Spreads, Fees, and Account Options
- Pros and Cons of RoboForex
RoboForex Regulation and Licenses
RoboForex holds Belize FSC license No. 000138/437.
Client Asset Segregation and Protection
An important aspect of regulation is how brokers handle client money.
RoboForex states that client funds are held in segregated accounts separate from company funds. Key points:
- international clients, funds are held in reputable global banks under SVG regulation. Banks used include Barclays, Raiffeisen, and JPMorgan Chase.
- European clients have funds segregated in EU banks under rules. Banks include BNP Paribas and JPMorgan Chase.
- South African clients have ZAR accounts segregated locally under regulation.
Segregating client assets provides protection in case RoboForex as a company fails. Deposited trading funds should remain intact.
However, RoboForex does not provide negative balance protection. This means trader losses could exceed deposited margins, especially when using leverage on CFDs. Clients are liable for all trading losses.
Trading Platforms and Tools
RoboForex offers all traders access to the popular MetaTrader suite of platforms:
- MetaTrader 4 (MT4) – The industry standard for Forex and CFDs trading. MT4 provides charting, analysis, Expert Advisors (EAs), and mobile apps.
- MetaTrader 5 (MT5) – An enhanced platform with more indicators, timeframes, order types, and instruments like stocks and futures.
- WebTrader – MT4 and MT5 web browser platforms. Useful for accessing accounts online without downloading software.
For platform tools, RoboForex offers:
- Over 50 technical indicators and charts on MT4/MT5.
- Market analysis from Trading Central and FXStreet.
- VPS hosting services for running EAs and algorithms 24/7.
- currency trading on MT5 via Liquidity Formula.
- PAMM investment funds allow copied trades or investment in top trader strategies.
So RoboForex provides professional trading platforms expected from a Forex/CFD broker. The MT4/MT5 combo covers most traders’ needs.
Spreads, Fees, and Account Options
RoboForex offers competitive spreads averaging 0.4 pips on EUR/USD for Pro accounts. More account types include:
| Account | Minimum Deposit | Spread EUR/USD | Commission per lot |
|---|---|---|---|
| Pro-Cent | $10 | 1.7 pips | $7 per lot |
| Pro-Standard | $100 | 0.4 pips | $3.5 per lot |
| ECN | $100 | From 0 pips | $3.5 per lot |
| Prime | $20,000 | From 0 pips | $2.2 per lot |
- Cent accounts allow micro-lots for small deposits but have higher spreads.
- ECN account offers direct market access, lowest spreads, but higher commission fees.
- Prime accounts get best spreads and execution for large traders.
Beyond spreads, RoboForex charges these additional fees:
- Inactivity fee: $5 per month after 3 months inactive.
- Withdrawal fee: 2% for bank or e-wallets.
- Overnight carry fees on leveraged positions.
Islamic (swap-free) accounts and demo accounts are also available.
Overall, costs are competitive but check all RoboForex fees before opening an account.
Pros of Trading with RoboForex
RoboForex provides these advantages for active trading:
- Tight spreads from 0 pips on ECN account makes scalping viable.
- Fast execution with bridging to multiple liquidity providers.
- Robust platforms in MetaTrader 4 and MetaTrader 5.
- Access to global markets including currencies.
- Useful account options for clients of all sizes and strategies.
For new traders, RoboForex offers:
- $10 minimum deposit on Pro-Cent accounts.
- Free learning materials and online webinars.
- Negative balance protection available on request.
Regulation in multiple jurisdictions worldwide also provides traders expanded safety.
Cons of Trading with RoboForex
However, there are a few drawbacks to consider:
- Primary regulation in Saint Vincent and the Grenadines provides limited oversight.
- No guaranteed stop loss option to limit downside risk.
- High withdrawal and conversion fees on some payment methods.
- Limited market research and tools compared to larger brokers.
- Short operating history starting 2009 compared to competitors.
As with any broker, traders should evaluate if RoboForex meets their specific trading requirements.
Is RoboForex Regulated – Conclusion
RoboForex holds licenses from Belize FSC license No. 000138/437.
For optimal safety, traders should use locally regulated RoboForex entities where available. Verify client asset segregation methods and understand all broker risks.
While RoboForex is not uncertified, traders should do due diligence on regulation in their jurisdiction. Safety standards can differ greatly between offshore centers and onshore regulators.
Overall, RoboForex offers competitive trading conditions but lacks highest-tier regulation for a broker of its size. As with any broker, funds protection remains a top priority.
Frequently Asked Questions
Is RoboForex properly regulated?
RoboForex does hold legal licenses in multiple regions. But its primarily holds Belize FSC license No. 000138/437.
What licenses does RoboForex hold?
Main licenses are Belize FSC license No. 000138/437
How does RoboForex protect client funds?
Client assets are segregated from company funds and held in reputable global banks. But traders are liable for all losses beyond deposits. Negative balance protection is not guaranteed.
Is RoboForex safe for trading?
RoboForex offers a well-equipped trading platform and competitive conditions. But regulation differs across jurisdictions. Traders should understand their protections and risks fully.
Can I trade currency on RoboForex?
Yes, RoboForex offers trading including Bitcoin, Ethereum, Litecoin, Ripple, and others through their Liquidity Formula partnership, are traded as CFDs on the MetaTrader 5 platform.
Is there an RoboForex bonus or promotion?
RoboForex offers a 30% first deposit bonus up to $500 for new accounts. Other promotions include a $5 no-deposit bonus, referral bonuses, and trading contests with cash prizes. Competitions run regularly.
Best and Most Trusted Forex Brokers
Based on regulation, award recognition, mainstream credibility, and overwhelmingly positive client feedback, these six brokers stand out for their sterling reputations:
| No | Broker | Regulation | Min. Deposit | Platforms | Account Types | Offer | Open New Account |
|---|---|---|---|---|---|---|---|
| 1. | RoboForex | FSC Belize | $10 | MT4, MT5, RTrader | Standard, Cent, Zero Spread | Welcome Bonus $30 | Open RoboForex Account |
| 2. | AvaTrade | ASIC, FSCA | $100 | MT4, MT5 | Standard, Cent, Zero Spread | Top Forex Broker | Open AvaTrade Account |
| 3. | Exness | FCA, CySEC | $1 | MT4, MT5 | Standard, Cent, Zero Spread | Free VPS | Open Exness Account |
| 4. | XM | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Micro, Zero Spread | 20% Deposit Bonus | Open XM Account |
| 5. | ICMarkets | Seychelles FSA | $200 | MT4, MT5, CTrader | Standard, Zero Spread | Best Paypal Broker | Open ICMarkets Account |
| 6. | XBTFX | ASIC, CySEC, FCA | $10 | MT4, MT5 | Standard, Zero Spread | Best USA Broker | Open XBTFX Account |
| 7. | Vantage | ASIC, CySEC, FCA | $50 | MT4, MT5 | Standard, Cent, Zero Spread | 20% Deposit Bonus | Open Vantage Account |
| 8. | FXTM | FSC Mauritius | $10 | MT4, MT5 | Standard, Micro, Zero Spread | Welcome Bonus $50 | Open FXTM Account |
| 9. | FBS | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Cent, Zero Spread | 100% Deposit Bonus | Open FBS Account |
| 10. | Binance | DASP | $10 | Binance Platforms | N/A | Best Crypto Broker | Open Binance Account |
| 11. | TradingView | Unregulated | Free | TradingView | N/A | Best Trading Platform | Open TradingView Account |
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