RoboForex is a popular forex and CFD broker that offers traders a wide range of bonuses and promotions. But are these incentives really as good as they seem or just a marketing gimmick? This comprehensive review analyzes RoboForex’s bonus offers in detail to determine if they provide genuine value.
Introduction
Bonuses and promotions can be an attractive incentive when choosing an online broker. But traders need to look past the hype and scrutinize the fine print.
RoboForex offers new clients a signup bonus plus ongoing promotions like no deposit bonuses, cash rebates, and more.
This detailed review outlines RoboForex’s bonus schemes, terms and conditions, and evaluates if the incentives are worthwhile or too restrictive to benefit traders.
Signup Bonus
RoboForex offers new traders up to 50% on their initial deposit as a signup bonus. The amount varies based on deposit size:
- Deposit $100-$999 – 20% bonus
- Deposit $1,000-$4,999 – 30% bonus
- Deposit $5,000+ – 50% bonus
Pros
- Generous bonus percentages on offer
- Bonus increases with larger deposits
Cons
- Very high trading volume requirements (explained below)
- Short validity period of 30 days only
Trading Volume Requirements
The key condition attached to RoboForex’s signup bonus is the minimum trading volume required to withdraw profits.
This is calculated as:
Bonus amount x 300 standard lots
So a $1,000 deposit would get a $300 bonus. To withdraw any profits, the trader would need to fulfil 300 x 300 = 90,000 standard lots of volume.
On a standard contract size of 100,000 units, that equates to 9 billion units traded!
Volume Requirements by Bonus Amount
| Bonus Amount | Standard Lots | Units (100k contract) |
|---|---|---|
| $100 bonus | 30,000 | 3 billion |
| $500 bonus | 150,000 | 15 billion |
| $1,000 bonus | 300,000 | 30 billion |
These staggering volume conditions make meeting the requirements virtually impossible for most retail traders.
Cons of Volume Requirements
- Need to trade hundreds of lots to withdraw bonus or profits
- Essentially locks funds to brokerage account
- Forces overtrading which often leads to losses outweighing bonus
- 30 day time limit adds pressure
No Deposit Bonus
RoboForex occasionally offers a $30 no deposit bonus. This provides new clients with a small amount of trading capital without needing to deposit.
Pros
- Test broker’s platform and spreads risk-free
Cons
- Very high volume requirements of 300 lots
- Only 14 days to meet requirements
- Overall benefit minimal
Cash Rebates
RoboForex provides cash rebates up to 20% on trading commissions for active clients. Rebates are credited to accounts daily.
Pros
- Ongoing incentive for active traders
- Credited daily without limitations
Cons
- Only benefit frequent, high volume traders
- Commission costs still outweigh rebate for most
Birthday Bonus
Existing clients are offered a 15% bonus on a single deposit each year on their birthday month.
Pros
- Decent bonus percentage
- No volume requirements
Cons
- One month validity period
- Only applies to a single deposit annually
VIP Bonuses
RoboForex has a VIP club that provides larger bonuses but requires a minimum deposit of $20,000.
VIP Bonus Tiers
| Deposit Amount | Bonus |
|---|---|
| $20,000+ | 80% |
| $50,000+ | 120% |
| $100,000+ | 150% |
Pros
- Highest bonus percentages on offer
- No trading requirements
Cons
- Prohibitive minimum deposit
- Majority of traders won’t qualify
Are the Bonuses Worth It?
For most retail traders, RoboForex’s signup bonus and no deposit bonus carry such high trading volume conditions that meeting the requirements is unrealistic.
However, the rebates, birthday bonus, and VIP tiers can provide value without unrealistic demands – as long as certain criteria are met.
Overall, the broker’s bonus scheme favors high volume, professional traders over beginners. While the headline bonus percentages look attractive, the underlying terms dramatically reduce their usefulness and potential value for most.
RoboForex Bonus Comparison
How does RoboForex’s bonus scheme compare to other forex brokers? Here is a summary:
| Broker | Bonus | Key Conditions |
|---|---|---|
| RoboForex | Up to 50% | Volume requirements 300 lots |
| XM | Up to $5,000 | Volume requirements 5 lots |
| IC Markets | Up to $10,000 | Volume requirements 12 lots |
| Pepperstone | No bonus | – |
XM and IC Markets offer much more attainable trading volume requirements. Meanwhile Pepperstone avoids bonuses altogether.
This suggests RoboForex’s signup bonus terms are intentionally prohibitive to prevent traders from withdrawing funds.
Verdict – More Gimmick Than Genuine
After thoroughly analyzing RoboForex’s bonuses, the final verdict is:
- Signup and no deposit bonuses are marketing gimmicks with unrealistic conditions.
- Ongoing rebates, birthday bonus and VIP tiers offer some value for specific clients.
- Overall bonus scheme favors high volume traders over beginners.
- Competitors offer simpler, more transparent bonus structures.
In summary, RoboForex uses attention-grabbing bonus headlines to attract new traders. But the excessive trading requirements indicate the broker’s priority is locking in client funds over providing genuine rewards.
Frequently Asked Questions
What is RoboForex’s signup bonus?
RoboForex offers new traders a bonus of up to 50% on their initial deposit. The amount varies based on deposit size. For example, a $1,000 deposit receives a 30% or $300 bonus.
What are the key conditions of RoboForex’s signup bonus?
The central condition is the extremely high trading volume requirements. Traders must complete 300 standard lots of volume for every $100 bonus received. At a standard contract size of 100,000 units, this equates to billions of units traded.
How long do you have to meet the bonus requirements?
RoboForex gives traders only 30 days to fulfil the signup bonus requirements. This short validity period adds further pressure.
What is RoboForex’s no deposit bonus?
RoboForex sometimes offers new traders a small $30 no deposit bonus. This allows trying their platform without an initial deposit. However, it carries very high 300 lot trading volume requirements within 14 days.
Does RoboForex offer any unconditional bonuses?
Yes, RoboForex’s birthday bonus and VIP bonuses come with no trading volume or other requirements. However, these are limited to a single deposit annually or require prohibitively large minimum deposits.
How does RoboForex compare to other brokers’ bonuses?
Competitors like XM and IC Markets offer bonuses with much more attainable volume requirements of 5-12 lots. Meanwhile Pepperstone avoids bonus incentives altogether in favor of simpler, more transparent conditions.
Are RoboForex’s bonuses worthwhile or gimmicky?
Overall, the extremely high trading requirements on most of RoboForex’s headline bonuses suggest they are marketing gimmicks more than genuine rewards. Only the rebates, birthday bonus and VIP tiers offer some real potential value.
Conclusion
RoboForex utilizes flashy bonus offers to attract new traders, but excessive trading volume demands prevent most from ever benefiting. Competitors provide easier and more transparent bonus structures.
While a few of RoboForex’s ongoing promotions are worthwhile for highly active traders, their signup and no deposit bonuses appear designed to lock in trader deposits rather than provide true value.
Overall, traders should focus on a broker’s spreads, execution quality, and transparency rather than promotional gimmicks when choosing a forex broker. Reliable trading conditions matter more than restrictive bonuses.
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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