RoboForex Review: Is RoboForex.com A Legit Broker Or Scam?

RoboForex Ltd is a brokerage run by RoboForex Group, an international company. From all indications, it seems to be based in the UK, though not clearly stated. The broker says it has been trading since 2009.

The page claims that RoboForex has spreads from 0 pips and executes orders quickly. A leverage of up to 1:2000 is offered. It trades on EUR, USD, CNY, RUB, BTC, ETH, and Gold. There are 8 asset classes offered and an affiliate program of 50% profit sharing.

6 types of accounts are open to clients and they range from a minimum deposit of 10 USD/10 EUR/100 CNY to 5,000 USD. A free demo account is available as well. The website mentions that the broker has 800,000 clients in 169 countries. Also, many awards because of its performances.

RoboForex Trading Platform

The RoboForex Trading Software is stated to use the MT4, MT5, cTrader, R Trader platforms. Most of the accounts however trade on MT4, MT5 and WebTrader platforms. This is a big advantage for clients. Spreads differ depending on the account that is being operated.

36 currency pairs, metals, CFDs, Cryptocurrencies are trading instruments available. Indices, Stocks, ETFs are also used. The spreads differ and depends on the type of account being run.

Deposits and Withdrawal Methods On RoboForex

The page states that there are over 20 deposit options including; Visa, MasterCard, Skrill, Neteller, UnionPay, Bank Wire Transfer and many more.

Deposits are made at 0% commission as RoboForex claims to cover all expenses. Clients are promised compensation for funds withdrawal twice a month. The withdrawals can be as fast as “within a minute for certain payment methods” according to roboforex.com

Minimum deposits have been stated above. No mention is made of withdrawal charges.

Is RoboForex A Licensed Broker

Yes. RoboForex belongs to RoboForex Group as was mentioned in the opening. It is a company regulated by the International Financial Services Commission (IFSC). Their license number is IFSC/60/271/TS.

As a regulated body, misappropriation of funds by this broker will be looked into by the commission.

Support

To contact the customer care agent of this broker, call: +65 3158 8389

Conclusion

RoboForex has a lot going for it. Holding a license from IFSC is a huge advantage and shows your money is safe. The professional way information is given shows that the broker knows the market. The trading platforms it offers and instruments are also good.

The only fishy thing found from our investigation is a negative review on FPA. A Chinese investor claims that he was scammed $400k. However, since this is a licensed broker, such huge sum will surely be looked into by the authorities.

 

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

DID YOU KNOW!! Most Autotrading softwares or robots claiming to turn you into a millionaire overnight are SCAMS. If you are in need of a legitimate software or robot that can help you trade profitably, see our recommendation HERE

To recover your money from Scam Forex, Binary Options and Cryptocurrency brokerage or signals. Fill the form below to get help

powered by Typeform

Summary
Review Date
Reviewed Item
RoboForex
Author Rating
31star1star1stargraygray

Leave a Reply

avatar
  Subscribe  
Notify of
Translate »