RoboForex broker – review and traders’ feedback

• Categories: Forex

Company RoboForex – detailed review and traders’ opinions

In the sphere of choosing reliable brokerage companies, RoboForex is often mentioned. Many attribute the firm’s success to awards, considering it a leader in the industry. However, it is worth paying attention to potential difficulties that may arise when cooperating with it.

Investment Security

Information about the company’s regulation implies supervision by IFSC (60/271/TS), Finacom, and CySEC (191/13). There is also a compensation fund capable of paying up to 20,000 euros in case of a crisis. However, the licensing structure belongs to a group of firms, not RoboForex itself, which may cause difficulties in receiving compensation in a critical situation.

The company is at high risk of organizational disintegration during a financial crisis due to the diversity of its legal structure. This can lead to unsuccessful attempts to obtain compensation in case of problems.

User Interface and Registration

When starting work on the site, it is necessary to register, providing personal data, phone, and email. After reviewing the agreement and completing the verification process, you can start using the platforms: MetaTrader 4, MetaTrader 5, web terminal, RTrader, CTrader.

Various methods of transfers are available for transactions, including bank and electronic transfers, bank cards, as well as popular systems (WebMoney, Bitcoin, Yandex Money, QIWI, Payments, Visa, MasterCard, and others).

There is usually no commission for depositing funds, and a fee is charged for withdrawals according to the system’s tariffs. After the funds are credited, you need to choose one of the five accounts with different service conditions and minimum deposits. Cent accounts are suitable for beginners, where you only need to deposit 10 dollars.

Opinions of Trusting Traders

Over 10 years of operation, the company has received numerous diverse reviews. Positive comments highlight bonuses, contests, multi-level partnership programs, ECN trading, educational materials, copy trading services, RAMM investments, and other opportunities.

Negative aspects include changes in the bonus program, issues with technical support, lack of margin call notifications, limited trading instruments, payment delays, and the requirement to set up a VPS server to work with advisors.

Conclusions

So, the main advantages of RoboForex include numerous regulators, access to various accounts and investment services. On the other hand, the possibility of the company splitting into divisions during a crisis period, technical glitches, and a complex bonus program stand out as the main drawbacks.

Overall conclusion. Our main concern is with regulation. On the one hand, the company is monitored by numerous reputable regulators. However, upon closer examination, it was found that all licenses are tied to separate divisions. From a legal perspective, they may be independent entities. This means that in case of serious financial problems, you will not have grounds to turn to law enforcement agencies and compensate for the losses incurred.