RoboForex Scam or Trustworthy – Our Deep Dive Investigation

RoboForex is a popular online broker that offers trading in currencies, commodities, stocks, indices and CFDs. With low spreads, fast execution and availability on multiple platforms, RoboForex seems like an attractive choice for traders.

But is RoboForex a scam or a trustworthy broker? In this comprehensive review, we take a deep dive into RoboForex to uncover everything you need to know about this broker.

An Overview of RoboForex

RoboForex was founded in 2009 and is regulated in Belize FSC license No. 000138/437. The broker offers access to over 12,000 financial instruments across multiple asset classes.

Some key aspects of RoboForex include:

  • Trading Platforms – RoboForex offers the popular MetaTrader 4 and MetaTrader 5 platforms. There are also web-based, mobile and tablet versions available.
  • Account Types – Traders can choose from 5 account types including Micro, Standard, ECN, PRO and Prime. The accounts have different spreads, commissions and access to services.
  • Trading Conditions – Spreads start from 0 pips on RAW accounts. Maximum leverage up to 1:2000 is available. Scalping and hedging are permitted.
  • Customer Support – Support is offered 24X5 via live chat, email and phone.
  • Funding and Withdrawals – A wide range of deposit and withdrawal options are supported including cards, e-wallets and bank transfers.

At first glance, RoboForex seems to tick most of the boxes for an online brokerage. But does deeper analysis reveal any red flags? Let’s find out.

Is RoboForex Regulated?

Regulation is one of the first things to check when assessing an online broker. RoboForex holds regulatory licenses from Belize FSC license No. 000138/437

Being regulated doesn’t make a broker 100% safe. But it does provide an added layer of protection compared to unregulated brokers.

RoboForex Trading Platforms

RoboForex offers its clients a choice between the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

MetaTrader 4 (MT4)

MT4 is considered an industry standard for forex and CFD trading. With RoboForex, you get access to all the features of MT4 including:

  • Advanced charting tools with multiple indicators and timeframes
  • Automated trading via Expert Advisors (EAs)
  • Copy trading via the MT4 Signals service
  • Fast trade execution with one-click trading and stop losses
  • Available as desktop, web and mobile apps

MT4 is a stable and reliable platform offered by most brokers. The desktop app can be challenging for beginners, but RoboForex has guides and tutorials to help.

Overall, MT4 delivers everything needed for successful forex and CFD trading.

MetaTrader 5 (MT5)

For more advanced traders, RoboForex offers MT5 with these enhancements over MT4:

  • More order types including market, stop, limit, OCO, IFD orders and more
  • Additional indicators, objects and timeframes
  • Built-in fundamental analysis tools
  • Economic calendar
  • Support for stocks, futures and options (not just forex and CFDs)
  • Faster execution speed and precision
  • Available as desktop, web and mobile apps

MT5 builds substantially on MT4’s capabilities. The advanced order types, enhanced analytics and support for additional asset classes give traders more flexibility. Like MT4, it may have a learning curve for new users. But overall MT5 provides an excellent trading experience.

Both MT4 and MT5 platforms can be accessed via the RoboForex apps for iPhone, iPad, Android phones and tablets. This allows managing trades on the go.

Additional Platforms

For traders who prefer simplified apps, RoboForex offers:

  • R Trader – Web and mobile app with simple interface but limited features. More suitable for beginners.
  • R StocksTrader – Specialized platform for stock CFDs. Offers detailed analytics and screening tools for stocks.
  • R MobileTrader – Streamlined app mainly for checking account status and executing trades. Support for Android and iOS.

So in summary, with its MT4, MT5 and additional platforms, RoboForex provides trading access across devices and for all levels of trader. The broker seems to have all the key platform bases covered.

RoboForex Account Types

RoboForex offers a choice of 5 account types to cater to traders with different profiles:

MicroFor smaller traders. Tight spreads from 3 pips and max leverage 1:2000.
StandardFor frequent traders. Tighter spreads from 2 pips. Commission-free.
ECNAdvanced ECN account with spreads from 0 pips. Charges commission.
PROFor professionals. Tiered tight spreads plus deep discounts on commissions.
PrimeVIP account with premium spreads from 0 pips. Dedicated account manager. Min deposit $20,000.

The range of accounts allows traders to select one matching their deposit amount, trade size preferences, spreads or commissions model.

Micro and Standard accounts are best for newer traders wanting simple spread-only pricing. ECN accounts are for high volume traders preferring tight variable spreads plus commissions.

For professionals trading bigger sizes, the PRO and Prime accounts provide the tightest spreads and discounts. Overall, RoboForex seems to offer an account type for every trader profile.


  • Wide range of account types
  • Tight spreads from 0 pips on ECN accounts
  • Discounted commissions on higher accounts
  • Accounts tailored for each trader level


RoboForex Fees and Spreads

RoboForex offers both spread-only and spread + commission pricing models depending on account type:

MicroFrom 3 pipsNone
StandardFrom 2 pipsNone
ECNFrom 0 pips$6 per lot traded
PROFrom 0.2 pipsDiscounted tiered commissions
PrimeFrom 0 pipsDiscounted tiered commissions

Spreads on the Micro and Standard accounts are quite high compared to other regulated brokers. But for active traders, the ECN, PRO and Prime accounts provide institutional-grade spreads from 0 pips.

The commissions charged on higher accounts are reasonable. On PRO accounts, commissions are discounted heavily for high volume traders. Scalpers may find the $6 minimum commission on ECN accounts expensive though.

Overall, RoboForex offers a dual spreads plus commissions model appropriate for different types of traders and activity levels. Active forex and CFD traders get access to tight spreads, averaging under 1 pip on major currency pairs.

RoboForex Leverage

RoboForex offers leverage up to 1:2000 depending on account type and instrument.

So the broker’s leverage exceeds regulatory requirements. Such high leverage is very risky for traders. On Micro accounts, the 1:2000 leverage is concerning given the inexperience of newer traders.

More reasonable leverage caps apply on other accounts:

  • ECN accounts: 1:200 leverage
  • PRO accounts: 1:100 leverage
  • Prime accounts: Customizable 1:5 to 1:200 leverage

Overall, while RoboForex offers high headline leverage, limits are tighter on accounts likely used by professionals. Still, all traders should use leverage judiciously based on risk appetite.

RoboForex Trading Tools and Features

RoboForex provides the following tools and features:

Trading Tools:


  • Negative balance protection guaranteed
  • No deposit or withdrawal fees
  • Scalping and hedging allowed
  • Spread-free Mondays – Zero spread trading on selected instruments
  • Over 50 tradable currency pairs
  • CFDs, stocks, commodities, and indices trading

The range of trading tools covers technical analysis, copy trading, EAs and automated strategies. Useful features like negative balance protection and spread-free trading are provided too.

The dual platforms MT4 and MT5 complement each other well for technical analysis. Overall, RoboForex delivers sufficient trading tools and features for effective trading across different asset classes.

RoboForex Customer Support

RoboForex provides customer support through the following channels:

  • Live Chat – Direct chat with support staff available 24X5
  • Email – Email support with generally quick responses
  • Phone – Toll-free local phone numbers for 50+ countries
  • Contact Form – Support form for non-urgent queries
  • WhatsApp – Quick support via WhatsApp Business Account

Support is available 24X5 in several languages such as English, Indonesian, Chinese, Thai and Spanish.

From user reviews, RoboForex customer service appears professional and helpful overall. Queries are resolved reasonably fast across communication channels.

For additional help, RoboForex provides an FAQ section, glossary of terms, technical analysis education, and MT4 user guides.

Considering its international client base, RoboForex seems to provide good customer support accessibility and resources across the board.

RoboForex Deposits and Withdrawals

RoboForex supports several deposit and withdrawal options:

Deposit Methods:

  • Debit/Credit Cards (Visa, Mastercard)
  • Bank Wire Transfer
  • E-wallets – Skrill, Neteller,
  • Local Payment Methods

Withdrawal Methods:

  • Debit/Credit Cards
  • Bank Wire Transfer
  • E-wallets – Skrill, Neteller,
  • Local Payment Methods

Card deposits incur no fees, have instant processing, and support multiple currencies. Bank transfers are also usually free but take 2-5 days for funds to clear.

For withdrawals, bank wire transfers have a $50 fee. But e-wallet and currency withdrawals are free and faster at 1-24 hours.

Overall, RoboForex offers a decent selection of deposit and withdrawal methods. E-wallets and currency options are convenient for international clients. Fee-free card deposits are handy as well.

Is RoboForex a Scam? Warning Signs

While RoboForex seems transparent and compliant at first glance, a deeper look reveals some warning signs:

  • Regulation in Belize FSC: This jurisdiction has very weak oversight and enforcement. Not recommended for financial regulation.
  • Risk Disclosure vaguenessRoboForex’s risk disclosures on trading risks are too brief. They do not thoroughly highlight all pertinent risks.
  • High leverage – Despite restrictions on some accounts, headline leverage up to 1:2000 remains dangerously high.
  • Lack of guaranteed stop losses – Unlike other brokers, RoboForex does not offer guaranteed stop losses. Customer support reps confirm this policy.
  • Rating site transparency – RoboForex appears to incentivize customers for ratings and reviews. Many linked social media profiles seem fake.
  • Fund security – RoboForex pledges to segregate accounts as per regulation. But details on brokerage capitalization and how client funds are protected are unclear.

These are not definitive signs of a scam, but they do raise some yellow flags about RoboForex’s policies and transparency. Caution is warranted until RoboForex improves in these areas.

RoboForex Review Summary


  • Regulation in reputed jurisdictions Belize FSC
  • Trusted MetaTrader platforms offering advanced trading
  • Fast execution speeds and competitive spreads from 0 pips
  • ECN accounts with institutional grade spreads + commissions
  • Discounted pricing and premium features on higher account tiers
  • Secure customer area and trading platforms
  • Good selection of deposit/withdrawal methods


  • Questionable licensing and regulation in Saint Vincent and the Grenadines
  • Vague risk disclosures and lack of guaranteed stop loss protection
  • Ultra high leverage allowed on lower account tiers
  • Transparency issues around broker capitalization and fund security
  • Incentivized reviews make impartial customer feedback difficult


RoboForex provides the platforms, instruments, pricing, execution speeds and features expected from a modern brokerage. But the transparency and policy concerns identified keep it slightly short of top-tier brokers.

We recommend exercising caution with RoboForex until they improve regulation, leverage policies, risk management and fund security guarantees. Moderate risk takers and experienced traders may find RoboForex suitable. But new traders and conservative investors may prefer more established alternatives.

Frequently Asked Questions

Is RoboForex legit or a scam?

RoboForex is a legitimate brokerage. They are regulated in reputable jurisdictions like Belize FSC license No. 000138/437.

Is RoboForex safe for beginners?

RoboForex allows high leverage up to 1:2000 which makes it riskier for beginners. They may be better served starting with a more conservative broker with tighter leverage limits and strong fund protection guarantees.

Can I trust RoboForex with my money?

RoboForex segregates client funds as required by regulators. But transparency is lacking on broker capitalization and additional protections. Caution is warranted until they improve their policies and disclosures.

What is the minimum deposit for RoboForex?

The minimum deposit is only $10 on Micro accounts. $100 for a Standard account and $200 for ECN. Higher PRO & Prime accounts require a minimum of $5,000 and $20,000 respectively.

Does RoboForex offer an Islamic account?

Yes. RoboForex offers a special Islamic account with swap-free trading compliant with Sharia law. There are no overnight rollover fees charged on open trades.

Is RoboForex better than

RoboForex has tighter spreads on ECN accounts. But is regulated in more reputable jurisdictions, has stronger fund protection and lower leverage limits. For most traders, may be the safer choice.

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:

NoBrokerRegulationMin. DepositPlatformsAccount TypesOfferOpen New Account
1.RoboForexFSC Belize$10MT4, MT5, RTraderStandard, Cent, Zero SpreadWelcome Bonus $30Open RoboForex Account
2.AvaTradeASIC, FSCA$100MT4, MT5Standard, Cent, Zero SpreadTop Forex BrokerOpen AvaTrade Account
3.ExnessFCA, CySEC$1MT4, MT5Standard, Cent, Zero SpreadFree VPSOpen Exness Account
4.XMASIC, CySEC, FCA$5MT4, MT5Standard, Micro, Zero Spread20% Deposit BonusOpen XM Account
5.ICMarketsSeychelles FSA$200MT4, MT5, CTraderStandard, Zero SpreadBest Paypal BrokerOpen ICMarkets Account
6.XBTFXASIC, CySEC, FCA$10MT4, MT5Standard, Zero SpreadBest USA BrokerOpen XBTFX Account
7.VantageASIC, CySEC, FCA$50MT4, MT5Standard, Cent, Zero Spread20% Deposit BonusOpen Vantage Account
8.FXTMFSC Mauritius$10MT4, MT5Standard, Micro, Zero SpreadWelcome Bonus $50Open FXTM Account
9.FBSASIC, CySEC, FCA$5MT4, MT5Standard, Cent, Zero Spread100% Deposit BonusOpen FBS Account
10.BinanceDASP$10Binance PlatformsN/ABest Crypto BrokerOpen Binance Account
11.TradingViewUnregulatedFreeTradingViewN/ABest Trading PlatformOpen TradingView Account

“If you don't find a way to make money while you sleep, you will work until you die.”

- Warren Buffett

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