RoboForex: The Best Multilanguage Support For Your Investments

August 8, 2020
Brokers
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RoboForex is a broker that specializes in stocks, ETFs, Forex, cryptocurrencies, and precious metals. It also offers an excellent 24/7 multilanguage customer support and a lot of funding and withdrawal options that you can use very easily. RoboForex also offers several investment platforms that will allow you to choose the one that best suits your style and trading plan. If you are looking for a broker with these characteristics and that also allows you to save money thanks to its fee structure, RoboForex is a good alternative

While it is true that RoboForex is a broker that has good characteristics in several aspects, we strongly believe that Capital.com is the best online trading platform because is one of the easiest and cheapest ways to trade CFDs on equities, commodities, indices, Forex pairs and cryptocurrencies anywhere in the world. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with RoboForex and scored our findings on a 10-point scale across 10 distinct categories.
Fees 9
Signup Process 7
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 10
Customer Support 10
Asset Classes 7
Referral Program 0
Demo Account & Educational Resources 8
Safety & Regulation 8
Total 77

What is RoboForex?

RoboForex is an international broker that has been operating since 2009 and is regulated by the IFSC. The broker offers a wide range of financial instruments such as stocks, Forex, ETFs, indices, CFDs, cryptocurrencies and precious metals through various investment platforms. Also, the broker has expanded rapidly in recent years and currently has more than 3 million accounts opened. It is important to note that citizens of all countries, except the USA, Canada, Japan and Australia, who are at least 18 years old can become RoboForex clients.

RoboForex expanded rapidly

Pros & Cons

Pros

  • Tight spreads from 0 pips.
  • Fast order execution.
  • No deposit fees.
  • Fast account opening.
  • A low minimum deposit of $10 USD.
  • 24/7 support.

Cons

  • No fixed spread accounts.
  • There are fees for some withdrawal options.
  • The broker does not offer fixed income instruments.
  • No referral bonus.

RoboForex Account Types

RoboForex offers you several types of accounts so you can choose the one that best suits your investment plans. Below we will talk about each of them:

Prime Account

Trading accounts with the best trading conditions available at the company (similar to liquidity providers), which are intended for “advanced” traders.

ECN Account

Electronic Communication Network (ECN) accounts are intended for professionals, who prefer the best trading conditions available (tightest spreads and high execution speed).

Pro-Standard

The most popular account type at RoboForex with optimal trading conditions, which is suitable for both beginners and experienced traders.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 RoboForex Fees

RoboForex offers tight spreads ranging from 0 pip and there are no fees for inactivity or commissions for operating accounts. There are also no commissions to make a deposit in the investment platform. However, there are commissions associated with withdrawing money from an account.

 CURRENCYFEE FOR
WITHDRAWAL
Bank TransferEUR1,50%
SkrillUSD and EUR1%
NetellerUSD/EUR/MYR/IDR/AED/PLN1,90%
FasapayUSD/IDR0,50%
VISA/MasterCardUSD
EUR
MYR
CHF
GBP
PLN 
CZK
2.6% + 1.3 USD
2.6% + 1 EUR

Later you will find a complete section where you can see in more detail the alternations, spare parts times and commissions. In any case, this factor causes the broker to lose a point in this category.

RoboForex Fees Score: 9/10

#2 RoboForex Signup Process

The process of opening an account at RoboForex is fast and totally online. To open the account you will need to supply:

  • E-mail
  • First/Given/Middle name(s)
  • Last/Family/Surname(s)
  • Mobile phone

You should also provide personal information such as a Passport or ID to complete the verification process. In general, you will have to wait up to two days to be able to operate with your account with complete peace of mind.

Pro-Tip

Please enter your full name as on Passport or ID to avoid troubles with verification of your account.

We contemplate in our scoring system how quickly you can operate on the broker’s platform. In the case of RoboForex the verification process could take up to 2 days and therefore the broker loses points in this section. This is a long time compared to other brokers, some of which verify your account in less than 20 minutes.

If you are looking for a broker that allows you to open and operate faster in your investment platform, we recommend you read our articles “Plus500“, “XM” and “Interactive Investor“. These brokers are very well qualified in this category.

RoboForex Signup Process Score: 7/10

#3 Minimum Initial Deposit

In order to operate on the RoboForex investment platform, you must meet a minimum deposit requirement of $10 USD/10 EUR. Although there is a minimum initial deposit, we think it is a low amount compared to other brokers and because of that, the broker has a very good score. However, there are alternatives such as the case of Interactive Investor or Internaxx where there are no minimum deposits so that you can use the investment platform.

RoboForex Minimum Initial Deposit Score: 10/10

#4 Ease of Use

RoboForex offers you several investment platforms. This way, you can operate with total ease with the platform that makes you feel more comfortable and at the same time that allows you to exploit your returns to the maximum.

MetaTrader 5

MetaTrader 5 (MT5) trading terminal combines advanced technologies of order execution and distributed computations for implementing your most ambitious trading ideas. Additionally, MT5 is one of the most advanced platforms for creating and testing trading robots and strategies.

MetaTrader 5  is very useful in trading.

MetaTrader 4

The MetaTrader 4 (MT4) classic terminal is still an unquestionable leader among retail traders. It has all features and tools that are necessary for both beginners and experienced traders of the financial market. Moreover, the terminal includes embedded functionality and opportunities, which are typical for automated platforms.

Analyze the quotes of financial instruments with the help of interactive charts and technical indicators

Web platform R Trader

Multi-asset terminal R Trader combines cutting-edge technologies and classic design with which you can get access to all global financial markets via a web terminal in a familiar web browser.

RoboForex: Multi-asset terminal R Trader

cTrader platform

cTrader is a platform for experienced traders, who prefer order execution speed and unconventional instruments to implement their trading strategies.

cTrader platform

RoboForex offers a wide variety of alternatives and therefore it is well-rated in this section. Take into account that you can also use an app with each of these investment platforms

However, in order for you to choose the best alternatives, you should spend time both testing each platform and learning how to use the platform you have chosen, for this reason, the broker loses a couple of points.

RoboForex Ease of Use Score: 8/10

#5 Deposit & Withdrawal Options

RoboForex offers you more than 20 alternatives for deposits and withdrawals. Take into account that there are no fees when making deposits but there are fees for withdrawals. Below you will see some of the deposit and funding methods that you will have access to with RoboForex:

RoboForex Deposit Options

 CURRENCYPROCESSING TIMELIMITATIONS
Bank Transfer (SEPA)EUR up to 3 business days
500 – 100,000 EUR
SkrillUSD and EUR instant deposit 10 – 25,000
NetellerUSD/EUR/MYR/IDR/AED/PLN instant depositup to 50,000 USD
FasapayUSD/IDR instant deposit 10 – 20,000 USD
VISA/MasterCardUSD
EUR
CHF
GBP
PLN
CZK
RUB

instant deposit

up to 10,000 USD
Cash & VouchersUSDfrom 1 minute to 1 day10 – 500 USD

RoboForex Withdrawal Options

 CURRENCYFEE FOR
WITHDRAWAL
PROCESSING TIME
Bank TransferEUR1,50% up to 3 business days
SkrillUSD and EUR1% from 1 minute
to 1 day
NetellerUSD/EUR/MYR/IDR/AED/PLN1,90% from 1 minute
to 1 day
FasapayUSD/IDR0,50% from 1 minute
to 1 day
VISA/MasterCardUSD
EUR
MYR
CHF
GBP
PLN 
CZK
2.6% + 1.3 USD
2.6% + 1 EUR
1 – 10 bank days
2.6% + 1 EUR

RoboForex has developed a system that will allow you to select the funding or withdrawal method among several alternatives in a clear and simple way. In fact, we believe that RoboForex is an above-average broker in this category. In this way, this broker has the highest rating in this category.

RoboForex Deposit & Withdrawal Options Score: 10/10

#6 Customer Support

RoboForex offers a very complete and good quality customer support service with immediate attention 24/7. Also, the broker offers you multilanguage support via telephone in 14 languages and via WhatsApp in 59 languages, among other alternatives that you will see below:

  • Live chat
  • Skype
  • Facebook
  • Messenger
  • Telegram
  • WhatsApp (59 idiomas): +65 3165 6623
  • Phone (14 idiomas):
    •  English: +65 3158 8389
    • Thai: +6620268277
    • Ukranian: 0 800 501 840/+38 067 920 11 22
    • Arabic: +65 3158 8389
    • Czech: +420 228 885 018
    • Chinese: +88 627 741 4290
    • Taiwanese:+88 627 741 4290
    • Russian:8 800 200 97 57
    • Indonesian: +60392122059
    • Kazakh: +7 (727) 3257070
    • Malay: +60 3 9212 2059
    • Portuguese:+ 351308811688
    • Portuguese: +55 61404 21173
    • Spanish: +34 911 237 952
  • Email:

An endless number of languages, many methods so that you can communicate with customer support and 24/7 attention make RoboForex an ally. In this way, the broker obtains a forceful 10/10.

RoboForex Customer Support Score: 10/10

#7 Asset Classes

Stocks

You can invest in 3,000+ companies in the United Kingdom, Germany, the USA, and Switzerland.

Currency Pairs

You can buy 30+ currency pairs. For Example:

  • USD/CAD
  • EUR/GBP
  • EUR/USD
  • SGD/JPY

Gold

You will be able to access precious metals such as gold, silver or platinum on the RoboForex investment platform.

ETFs

You can buy this type of financial instruments. For example you can buy:

  • The Health and Fitness ETF
  • SPDR S&P 500 ETF
  • USA Min Volatility MSCI Ishares
  • DB US Dollar Index Bullish Powershares

Crypto

You can trade CFDs on 26 cryptocurrencies. For Example:

  • Bitcoin
  • Ethereum
  • EOS
  • Litecoin
  • Ripple

Although RoboForex offers several investment alternatives, you will not be able to trade bonds. Furthermore, the broker does not offer alternatives to invest in the Asian market, so it becomes difficult to develop portfolios that are diversified internationally. For this reason, the broker loses three points in this category.

If you are interested in greater diversification, in the articles “Swissquote: A Swiss Broker Just One Click Away” and “Plus500 Review: A Whole World Of CFDs” you will see that these brokers offer better alternatives in this category.

RoboForex Asset Classes Score: 7/10

#8 Referral Program

There is currently no referral program on RoboForex. For this reason, it is impossible to be able to assign points in this regard to RoboForex.

RoboForex Referral Program Score: 0/10

#9 Demo Account & Educational Resources

Demo Account

At RoboForex you will have the opportunity to operate with unlimited demo accounts. RoboForex demo accounts are different from real accounts in that you don’t need to deposit money when trading. In all other respects, demo accounts are exactly the same as real RoboForex accounts. That is why using a demo account is one of the best ways to test your trading strategies.

Educational Resources

The educational resources are average; the site has a blog and articles on investment analysis and forecasting. You can also watch tutorial videos on financial topics and manuals on how to download and trade the different investment platforms that RoboForex offers.

In addition, the site also offers an economic calendar so that you are aware of the most important dates that could affect financial markets. This way, you can exploit your opportunities in the stock market to the maximum.

Although it is true that you can open a demo account at RoboForex, educational resources are still average because it could offer articles on investment analysis, news, blog and even podcasts. In this way, the broker loses a couple of points because for a trader it is essential to be in constant learning.

RoboForex Demo Account & Educational Resources Score: 8/10

#10 RoboForex: Safety & Regulation

RoboForex Ltd has a special brokerage license IFSC Belize “Trading in financial and commodity-based derivative instruments and other securities” under the number 000138/107.

The regulator ensures that only the most reliable and socially responsible companies receive the license to operate within Belize and beyond.

As a financial market regulator, IFSC Belize carries out certification of and control over the market members, as well as guarantees efficiency, honesty and transparency of the work of its grantees.

Additionally, RoboForex Ltd, which is an “A” category member of the Financial Commission, also is a participant of its Compensation Fund. The Compensation Fund is a service included with The Financial Commission membership which provides protection up to 20,000 EUR per case should a member refuse to adhere to a judgment from The Financial Commission.

Although the broker offers funds protection, it could be regulated by more financial institutions. This factor is very relevant because a broker that has several regulations is a broker that transmits a higher level of security. Therefore, the broker falls a bit short and loses two points in this category.

RoboForex Safety & Regulation Score: 8/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to Capital.com, which scores 91/100 points across the 10 categories mentioned in this review.
RoboForex vs. Capital.com

RoboForex vs. Capital.com

Being a winning trader requires a solid investment plan. Take into account that the stock market is a world that is constantly changing and for this reason your strategies must adapt to the movements and innovations of the market. We recommend that you choose a broker that is your ally and that allows you to fully exploit your profits.

In this sense, this broker must allow you to diversify your portfolio internationally with the range of financial instruments that it offers and that also saves you hundreds of dollars in commissions. In this section, you will find a comparison between RoboForex and Capital.com. After an in-depth market study, we consider that your best ally is Capital.com for the following reasons:

Capital.com Has Referral Program

RoboForex does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, Capital.com offers you a Referral Program that will allow you to earn 25 USD for each person you invite to invest in this wonderful investment platform.

Quick and easy account opening

If you want to trade now without having to wait for days struggling to verify your trading account, we recommend you visit Capital.com. You can open your account and trade in less than 20 minutes.

It Provides More Educational Resources

At Capital.com you have more tools and options so you can study the market and create the best investment plans. For example, you will be able to access:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate, Capital.com’s investor education app.

RoboForex In Summary

  • RoboForex is an international broker that has been operating since 2009 and is regulated by the IFSC.
  • The broker RoboForex offers a wide range of financial instruments such as stocks, Forex, ETFs, indices, CFDs, cryptocurrencies and precious metals.
  • The broker offers various types of accounts: Prime Account, ECN Account, and Pro-Standard.
  • The process of opening an account at RoboForex is fast and totally online.
  • The minimum deposit is $10 USD/10 EUR.
  • RoboForex offers you several investment platforms: MT4, MT5, Web platform R Trader, and cTrader platform.
  • The broker offers you more than 20 alternatives for deposits and withdrawals.
  • The company offers a very complete and good quality multilanguage customer support service with immediate attention 24/7.

If you are looking for a broker that offers you several alternatives for you to choose the best investment platform and if you also want to have full 24/7 access to the customer support, RoboForex can be a good alternative.

However, we are committed to telling you about a broker far superior to RoboForex with which you can invest your funds with total security. In addition, it will allow you to have a greater capacity for investment. In this way, if you are a beginner or an experienced trader, we highly recommend Capital.com.

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