Good Fx/Forex Broker Roboforex

 

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RoboForex is a forex broker. Robo Forex offers the MetaTrader 4, MetaTrader 5, MT Mobile and cTrader forex online trading top platforms. RoboForex.com offers over 30 currency pairs, cryptocurrencies, stocks, indices, gold, silver, commodities and cfds for your personal investment and trading options.

RoboForex Company Details

Founded in 2009, RoboForex has headquarters in Belize and is regulated by the International Financial Services Commission (IFSC). The broker offers over 12,000 trading instruments in 8 asset classes, as well as 2 investment platforms and 4 trading platforms.

RoboForex has earned a good reputation over the years with 3 million live accounts opened since inception. The company has also made the news as the official partner of BMW M Motorsport and has secured a sponsorship deal with Muay Thai Fighter and world kickboxing champion, Andrei Kulebin.

RoboForex Assets

Clients can trade on 40+ currency pairs, over 12,000 global stocks, more than 10 indices, such as the Dow Jones (US30) and NASDAQ, 100 commodities, including oil, and ETFs. The broker also offers 26 cryptocurrencies plus cryptoindicies, a unique product that allows for trading on several cryptos at once.

Overall, this review was impressed with RoboForex’s depth of products in 2020. Note detailed contract specifications can be found on the broker’s website.

Spreads & Commission

Pricing depends on the account you choose but spreads are fairly competitive vs brokers such as FBS and FXTM. Fees for the Pro-Cent and Pro-Standard accounts are included in the spreads, which average around 1.4 pips for EURUSD, 1.75 for US indices, and around 22 for XAUUSD (Gold).

You will see tighter spreads with the Prime and ECN accounts, with zero pip spreads available in some asset classes.

Leverage

The maximum leverage offered at RoboForex is 1:2000 with Pro-Cent and Pro-Standard accounts. Leverage up to 1:500 is available with the ECN account while 1:300 leverage is offered with Prime and R Trader accounts.

A useful margin calculator is provided on the website.

Mobile Apps

For mobile traders, RoboForex offers smartphone apps for all their trading terminals (MT4, MT5, cTrader, and R Trader):

• MetaTrader – MT4 and MT5 users enjoy the same technical features as desktop apps, including customisable charting tools, full trading history, and access to trading robots. The same members client login area is available on mobile platforms.
• cTrader – cTrader offers handy features including pinch-to-zoom, fling scrolling, and double-tap action to recentre charts, as well as in-app notifications.
• R Trader – R Trader is also fully-featured and offers an all-in-one solution, with secure in-app account deposits and bonus management. The app offers 14 trading indicators, plus live charts and quotes, and additional mobile-friendly features.

All platforms are available in 22 languages for both iPhone and Android (APK) users. Overall, users will find the most positive online reviews for the MT4 and MT5 mobile apps.

Payment Methods

Deposits

There’s no shortage of funding methods at RoboForex, with dozens of deposit methods in 9 different currencies, including USD, EUR, GBP and ZAR. International and local bank depositors are available, as well as card payments and e-wallets. PayPal is not accepted. All deposit methods are free and fast and most methods require a 10 USD/EUR minimum deposit with standard accounts.

Withdrawals

There are 13 withdrawal methods available, though this may vary depending on your jurisdiction. Withdrawal times for most methods are just 1 day, which is praised in customer reviews in 2020. Commissions for withdrawals vary but range from 0.5% to 2.8%. The group does offer a Free Funds Withdrawal programme which allows you to withdraw funds twice a month with no commissions. Further details and restrictions can be found on the website.

Demo Account

RoboForex offers a choice of three demo accounts, suitable on all platforms: Demo Pro, Demo, and Demo R Trader.

The Demo Pro account is the most popular choice as it replicates the trading conditions of the standard account packages, with 1:2000 maximum leverage and floating spreads from 1.3 pips. Users can test trading strategies without spending or risking real money.

You can open a demo account from the broker’s homepage. The practice account is free to use and expires after 90 days.

Bonuses

Pro-Cent and Pro-Standard new account users receive a welcome bonus of 30 USD after depositing a minimum of 10 USD via bank card. Cent and Standard users can also benefit from the 60% Profit Share Bonus, as well as up to 120% on deposits by claiming the Classic Bonus.

The broker also offers other promotions, including up to a 10% bonus credit on account balances, cashback rebates based on trading volume, daily competition opportunities with ContestFX and a free VPS server. Full bonus withdrawal terms and conditions can be found on the broker’s website.

RoboForex currently does not offer any no deposit bonus (NDB) deals in 2020 but has previously offered weekly demo contests, so traders should check the website for upcoming promotions.

Regulation

RoboForex Ltd is regulated by the International Financial Services Commission (IFSC) of Belize under license number 000138/107. As an “A” category member of the Financial Commission, RoboForex Ltd is a participant of the Compensation Fund, which provides protection up to €20,000 per case. The broker also holds Civil Liability insurance and provides negative balance protection. Overall, RoboForex is a legitimate and safe online broker.

Additional Features

RoboForex’s educational suite contains many useful resources for both casual traders and professional investors, including how-to guides, on-demand videos, forex analysis, plus a helpful community forum, blog and economic calendar.

The most notable feature is the RoboForex Analytics centre, a free subscription to analytical data and trading instruments from within one window. Available in 13 languages, and offering an interactive data layout, users can gain access to signals, videos, calendars, and tools for traders.

Accounts

RoboForex offers 5 live account types: Prime, ECN, R Trader, Pro-Cent, and Pro-Standard. The minimum deposit is 10 USD/EUR for all accounts, except the R Trader account, which requires a 100 USD deposit. These are refreshingly low minimum deposits compared to others, such as HotForex, Tickmill and Exness.

The ECN and Prime accounts are ideal for professional traders looking for spreads from zero pips, whilst the R Trader account supports multi-asset stock trading. Pro-Cent and Pro-Standard accounts are designed for beginners and casual traders.

This review found that the main differences between the accounts are the minimum margin requirements, leverage limits, margin call/stop-out levels, and access to bonuses. All bonuses are available with the Pro accounts, whilst no bonuses are available with the R Trader account.

Islamic swap-free accounts are also available, as well as investment solutions using CopyFX and RAMM platforms, supporting investment in both short-term and long-term trading strategies respectively.

You can open a real-money trading account from the RoboForex homepage and start trading in live markets.

Benefits

Reasons to open a RoboForex account include:

• Bonuses offered
• Decent range of assets
• 4 live trading platforms
• Commission-free trading
• Copytrade investment platforms similar to Zulutrade

Drawbacks

The only major drawback for registering with RoboForex is:

• US clients not accepted

• Trading Hours

  Forex can be traded 24 hours a day, 5 days a week, however specific active trading sessions depend on the time zone. All times below are in UTC+2 (Eastern European Time, EET).

  • Japan & Singapore – 02:00 – 10:00
  • Hong Kong – 03:00 – 11:00
  • Frankfurt – 08:00 – 16:00
  • London – 09:00 – 17:00
  • New York – 15:00 – 23:00
  • Chicago – 16:00 – 24:00
  • New Zealand & Sydney – 22:00 – 06:00

  RoboForex also posts useful trading schedule changes for national holidays.

  Customer Support

  RoboForex offers multilingual support in over 12 languages including English, Malaysian, Indonesian, Arabic, and Spanish. Help is available 24 hours a day, 7 days a week via

• Email – info@roboforex.com
• Telephone number – +65 3158 8389
• Online callback form – Contact Us page
• Live chat, Telegram, Facebook Messenger, Skype, Whatsapp, and Viber – logos located in the bottom right-hand corner of the website

The customer support team can help with most queries, from how to delete an account and user verification to clarification on ECN commissions per lot and how to reset your investor password.

The head office address is 2118 Guava Street, Belama Phase 1, Belize City, Belize.

Security

All RoboForex platforms use SSL encrypted security systems as well as dual-factor authentication protocols. Withdrawals and transfers can also be protected via an SMS confirmation code with each transaction. For their bonus programmes, the broker also has anti-fraud systems in place to protect against repeated transfers of funds

RoboForex Verdict

RoboForex is an established online broker offering a wide range of assets on reliable trading platforms, including MT4 and R Trader. The broker is also regulated and provides negative balance protection, adding an extra layer of trust and security for traders. Overall RoboForex is a good broker for all levels but their zero-spread ECN accounts and RAMM platforms will be particularly attractive to professional traders.

Accepted Countries

RoboForex accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use RoboForex from United States, Canada, Japan, Australia.

FAQ

Is RoboForex a scam or not?

RoboForex Ltd is a legit company registered in Belize and regulated by the International Financial Services Commission. As a result, it’s unlikely to be a scam. With that said, the broker does receive mixed reviews on websites such as Trustpilot.

How do I open a RoboForex account?

You can sign up for a real account by clicking Open An Account on the right-hand side of the website. You will then need to fill in your new member details to register your area login credentials. The verification stage will then complete the process.

How can I delete my RoboForex account?

You can make your account inactive from within the members area. From the Account section, change the status of the account you want to remove to ‘no’.

Does RoboForex accept US clients?

No, traders from the USA cannot sign up for a live trading account. Clients from Canada, Japan and Australia are also unable to register for a RoboForex account.

Is RoboForex a Market Maker?

For all Cent accounts, RoboForex serves as the Market Maker. For all Standard and ECN accounts, the broker follows an STP model.

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Good Fx/Forex Broker Exness

Register Exness

Exness is an online forex broker. Exness offers the MetaTrader 4, MetaTrader 5, and MT Mobile forex trading top platforms. Exness.com offers over 100+ currency pairs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Review of IQ Option and Exness Online Platform

The online world has given many people access to a wide range of possibilities. With more and more pages and domains being created all the time, this infinite possibility only grows. The challenge then, in an environment such as this, is finding and verifying the particular experience the user is looking for. To help users such as this decide, review systems need to be set up to guide them.

This is the case for online brokers and the many different experiences that they offer. Here, we are looking at two big names in the trading game, namely IQ Option and Exness. Each of these online brokers offer a unique experience to their users, detailed with a medley of different financial instruments, tools and supporting features.

A Trusted Platform for Trading

The most vital aspect of any IQ Option and Exness review is to determine reliability, accessibility and variety. A reliable system is essential for an online broker to have and be able to prove. After all, they are dealing with a significant amount of investments and therefore need to ensure that these will be handled correctly and securely.

For both this IQ Option and Exness broker review, this is very much the case. Each of these are based in Cyprus and moderated by the Cyprus Securities and Exchange Commission (CySEC). This is a reputable way of keeping all activities above board and protecting the users of each of these platforms. Any trader looking to make serious inroads into the marketplace must clarify these regulatory bodies with their selected broker.

Another factor that plays a role in the reliability of such brokers is the experience they have in the field. Again, these two are well-endowed with such experience and display this with their well-groomed offerings. Exness broker, for instance, has been around for over a decade, having started all the way back in 2008. IQ Option, in comparison, only came into being in 2013 but have since grown rapidly.

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Gaining Access to the Markets

After reliability, comes the ever-important accessibility. No matter what the offering is or how reliable it has been, if users cannot gain access to the broker's trade room then it doesn't do anyone any good. This is why, and it will become apparent across any of these IQ Option and Exness reviews, each of these top brokers have a wide range of systems and applications that can deliver the marketplace to their clients.

Exness is supported across both Apple and Android devices but does not have an application for Windows. However, it is also supported through platforms such as the Exness MT4, MT5, Mac and Web Trader. This allows for a good deal of flexibility with connecting to the marketplace and enables users access from a range of platform options. Downloads, like Exness MT4 download, are generally more efficient than going through a browser.

IQ Option, on the other hand, has prided themselves in presenting their clients with a top of the line application that can be acquired for all manner of desktop, laptop and mobile phone. This is a great way to connect with the financial instruments in a quick and efficient way. There are also browser options for those unable to download the preferred application.

So, whether users pick Exness MT4 demo account download or the IQ Option Android app, they will have a dedicated system to access their trading through. On top of this, acquiring and activating these apps is a straightforward effort, with multiple places available to download and connect. In order to do this, users will be required to register and pick an account they want from the selection each of these platforms provides.

Registration and Accounts

The first, direct experience that traders will encounter with any online broker is the registration page. Whether they have downloaded an app or going straight through the browser, both the IQ Option and Exness broker will require an email address and selected password. This is to add further security and failsafe procedures should anything unfortunate occur.

Once activated, the next step is picking the account. Here again, these two online brokers butt heads over their similar offerings. Exness app download provides their clients with three different types of accounts. There is their Mini, Classic, and ECN account types. The Mini and Classic accounts are for beginners and veterans of trading respectively. ECN, on the other hand, stands for Electronic Communication Network and provides this type of environment to the users.

IQ Option also offers a choice of account to their clients, namely a standard and VIP account. Similarly to Exness, these are divided to provide a different experience for those new to the game and those looking to trade with high stakes and large volumes. The little details attached to each of these two accounts help shape the environment for their intended audience and give the necessary tools to those that need it most.

On top of each of these accounts, both IQ Option and Exness demo have a free practice account to use. With the speed and complexity some of the markets have, this is an essential tool in the learning experience for traders at all stages. Whether it is to understand how trading works or to pick up the specifics of how the platform operates, an IQ Option or Exness demo account allows for a relative freedom in these pursuits.

Deposits and Investments

The minimum deposits that a broker provides sets the pace of each of the specific accounts and the users joining them. Therefore, each of these top brokers will try and keep the minimums as low as possible.

Exness does this well with their Mini account requiring just $1 as an entry deposit. This allows users easy entry but they do charge for deposits and withdrawals so their may be underlying costs. Their Classic account requires a minimum of $2000 deposit in order to activate, suggesting the position of confidence and experience the traders should be at before joining this account.

The offerings of each of these different accounts are also tailored to the targeted audience, with more trading and unique features found in the higher tiers. IQ Option also provides a choice of deposit, with their standard account going as low as just $10. With no additional costs on deposits, this serves to provide an easy entry into the market. The VIP account requires a deposit of $1900.

Once connected to any of these different accounts, users can invest within a wide range of unique financial instruments and at varying amounts. For IQ Option the minimum investment per trade is just $1, which is similarly the case for Exness. Overall, there is trading on both of these platforms for users of any requirement.

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Exness Specific Offerings

Exness offers their users a medley of different financial instruments, learning materials, support and more. The best way to digest all of this is one step at a time, so let us look at this bit by bit.

• Financial Instruments. This is one of the most important parts of any online trade room. With Exness, traders can get access to the markets like Forex, Indices, Energies, Cryptocurrencies and Metals. Each of these has a range of assets within them, through which users can buy and sell. The significant choice allows traders to create strategies and make complex movements toward generating profit, whether through Exness Forex options or their other instruments.
  

• Practice Account. The demo is worth mentioning again because of its inherent benefits to all the facets of this platform. Through this practice option, users can gain experience and understanding of the markets they are working with and the various tools and layout that the platform utilises. It is another great tool in developing strategies and then running them through to test results.
  

• Learning Tools. Exness presents their clients with access to a couple of training and analysis tools to help them improve their experience. Called the Exness Academy, this part of the platform helps new users get comfortable with the market, while ushering more veteran users into the more complicated aspects of the marketplace.
  

• Minimal Costs. Exness has a very small intro deposit for their Mini account although there are obviously other costs involved with utilising this platform. These costs come in the form of commissions, deposit and withdrawal fees, and fixed and variable spreads. This means that many of the actions that users take on this platform will need a small consideration toward the platform itself.
  

• Reliable Support. With potentially high volumes of trading done on their platform, Exness offers their users a 24/7 support system. Including a variety of ways to make contact, clients can be sure they will not encounter problems that have no solutions. This creates a secure environment for depositing, trading, and withdrawing.
  

• Payment Options. Exness has support for a variety of payment options. This includes the likes of most credit card options as well as top eWallets like Skrill. There could perhaps be more offerings in this regard, since many different users will have their own option that they feel most comfortable with and therefore prefer to use for significant volumes.
  
  

Overall, Exness is a competent and diverse trading platform, competitive in many online markets.

IQ Option Specific Offerings

Exness has set an impressive benchmark, but IQ Option is more than ready to compete with any of the brokers available. Let us unfold the involved trade room that they have set up for their users.

• Financial Instruments. When it comes to variety amongst their available markets, IQ Option sits on top. With access to over 500 assets across markets like Forex, ETFs, Cryptocurrencies, Commodities, Stocks, and their very popular options. The latter is often regarded as binary trading and has recently become a massive attraction to traders throughout the world.
  
  

Through derivative trading, users are presented with a binary choice of high or low and invest upon either outcome they think is achievable. Within these options, there is the standard binary as well as the popular digital options. These are based on specific time frames and pay out depending on how long the trade lasts and the derivative involved.

• Practice Account. Like Exness, IQ Option also grants their users entry to a demo account to practice and learn. With this platform, users can easily switch between their main account and the demo at a click of a button, and then jump back just as easily. The strategies that can be created through this simple method are endless.
  

• Learning Tools. IQ Option also has some learning resources available directly through the platform. From tutorials, to webinars and much more, users can learn the basics and the advanced material as they trade. With the VIP account, this offering is further expanded upon, with access to even a professional advisor to help improve trading potential.
  

• Minimal Costs. While Exness has a lower minimum deposit for their basic account, IQ Option makes up for this with less underlying costs attached to the experience. Without any deposit fees or even commission, traders can make and break trades with ease. There are only fees attached to certain withdrawals and in the form of variable spreads that apply differently to certain instruments.
  

• Reliable Support. Once again, IQ Option excels with regards to supporting features. With 24/7 support in a range of languages and from helpful and informed staff, users can engage with the markets in confidence. Whether through email, text, or live chat, there is always an easy way to get assistance on any question or problems that might arise.
  

Payment Options. IQ Option provides their users with over 20 types of payment options, including credit cards and most top eWallets. This impressive range allows their users to pick and choose whichever method they feel most at ease with and go from there. It is also testament to their global reach that so many different methods have been made available.

Сonclusion

All in all, IQ Option has a greater display of variety within their offered experience. However, with any of these online brokers, it is up to the specifics required by the individual user that determines which is the best choice for them.

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Bitcoin Factsheet

 Bitcoin is the world’s first and most widely traded digital cryptocurrency, and is not connected to or controlled by any government or central bank. Originally established in 2009, Bitcoin is a digitally-encrypted, decentralized currency that is most commonly traded against the US dollar as the currency pair, BTC/USD.

TRADING MECHANICS

Quote Convention: BTC
Means: 1 BTC = 17,000 USD as of December 2017 according to Coindesk.com
Fun Fact: Bitcoin was originally established by a mysterious person or group of people using the pseudonym, Satoshi Nakamoto. Despite much speculation by the general public, Nakamoto’s identity is still largely unknown.

GENERAL FACTS AND STATISTICS

Date of Inception: January 3, 2009
Administration: None, Transactions Recorded in Blockchain Public Ledger
Maximum Bitcoin Supply: 21 Million
% Mined to Date: ~80% *
All-Time BTC/USD High: $17,382 (December 2017)
All-Time BTC/USD Low: $0.06 (July 2010)

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What is a Cryptocurrency?

A cryptocurrency is a digitally-encrypted, decentralized currency that is not connected to or controlled by any government or central bank, unlike traditional currencies such as the US dollar (issued by the Federal Reserve), euro (European Central Bank), or Japanese yen (Bank of Japan), among many others.

Like these traditional currencies, cryptocurrencies generally fill two primary roles:

• Payment systems for goods and services
• Speculative instruments for trading and investing

Popular cryptocurrencies:

• Bitcoin- Since its inception in 2009, Bitcoin has grown rapidly in prominence as the world’s first and most popular cryptocurrency.
• Litecoin – Launched in 2011, Litecoin is used primarily as a payment transaction cryptocurrency that has been called “silver to Bitcoin’s gold.”
• Ethereum – Released in 2015, Ethereum has rapidly gained popularity on the heels of Bitcoin, and currently has a market capitalization second only to Bitcoin among cryptocurrencies.
• Ripple – Created in 2012, Ripple differs from Bitcoin in that it does not require mining to create the cryptocurrency.
• Dash – Launched in 2014, Dash, or Digital Cash, was initially known as “Darkcoin,” and is unique in that it is considered a highly anonymous and secretive cryptocurrency that specializes in virtually untraceable transactions.

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What is Forex?

The foreign exchange market – also known as forex or the FX market – is the world’s most traded market, with turnover of $5.1 trillion per day.*

To put this into perspective, the U.S. stock market trades around $257 billion a day; quite a large sum, but only a fraction of what forex trades.

Forex is traded 24 hours a day, 5 days a week across by banks, institutions and individual traders worldwide. Unlike other financial markets, there is no centralized marketplace for forex, currencies trade over the counter in whatever market is open at that time.

How FX Trading works

Trading forex involves the buying of one currency and simultaneous selling of another. In forex, traders attempt to profit by buying and selling currencies by actively speculating on the direction currencies are likely to take in the future.

Want to know more about how to trade forex?

Our free Let’s Get to Know Forex guide will cover how to get started, help you make your first trades and outline how to create a long-term trading plan for long-term success.

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