Roboforex- A recommended forex broker

Roboforex-A Recommended Forex broker

If you’re looking for a reliable, recommended forex broker, look no further than Roboforex. This trusted and reputable broker has been providing their services since 2009, offering competitive trading conditions, a wide variety of trading instruments, and a range of customer service options. With Roboforex, traders have access to a comprehensive selection of trading platforms and advanced technology, making it the perfect choice for any forex trader. In this blog post, we’ll take a closer look at why Roboforex is a recommended forex broker.

Why Roboforex?

.  RoboForex utilizes eight liquidity providers (LPs) that provide tight spreads as low as 0 pips, fast execution, and leverage of up to 1:2000. RoboForex has more than 800,000 registered traders from 169 countries worldwide, making RoboForex a globally recognized entity.

.  RoboForex offers the famous MetaTrader platform, the professional cTrader platform, and their own proprietary R Trader platform, all of which provide a pleasant trading experience and respond to the unique trading demands of individuals traders. Desktop, online, and mobile platforms are all accessible.

Distribution of Traders

 The distribution of traders for RoboForex is as follows:

️​ Russian Federation – 18.33%

️​ Brazil – 6.12%

️​ Iran, Islamic Republic Of – 5.17%

️​ Ukraine – 4.76%

️​ United Kingdom – 4.21%

. RoboForex Ltd is a member of a Compensation Fund that offers eligible clients up to €20,000 in client protection. In addition, RoboForex also has a Civil Liability Insurance program up to a maximum of 5 million EUR, including coverage against any fraud, errors, negligence, or any other risk of loss.

 RoboForex Limited has an execution quality certificate Verify My Trade (VMT), which proves that the broker complies with all requirements of the Financial Commission. RoboForex also offers negative balance protection which is applied to all retail investor accounts.

applied to all retail investor accounts.

Account Types and Features

 RoboForex offers traders a choice between five retail investor accounts that can be used to trade in live markets using real money. There is also the option for an Islamic Account offered to Muslim traders. Lastly, RoboForex offers a demo account that can be used for several purposes, offering traders a risk-free environment funded with virtual money.

 The live account options are:

️​ RoboForex Prime Account

️​ RoboForex ECN Account

️​ RoboForex R StocksTrader Account

️​ RoboForex ProCent Account

️​ RoboForex Pro Account

Prime Account

 The Prime Account offers traders some of the best trading conditions possible, suited to both forex markets and several other financial markets. The Prime account is like typical standard accounts and is seen as the entry-level account for beginner, intermediate, and professional traders.

ECN Account

  The Electronic Communications Network (ECN) account is suited to experienced traders who need the best order execution along with some of the best trading conditions.

R StocksTrader Account

 This is a specialized account that is suited for stock trading and investment, providing Nigerian traders exclusive access to the R StocksTrader proprietary trading platform.

ProCent Account

 This account type is specifically designed to cater for novice traders as well as advanced traders who are testing trading strategies or Expert Advisors. This account is the first live trading account that traders can use once they are finished with the demo account and are ready to trade real money.

 This account is well-known as one of the best automated trading solutions that RoboForex offers, especially when it is used with proprietary mobile trading apps.

Pro Account

 This account type should not be confused with a Professional Account. The Pro Account is the next level up from the Cent Account, allowing traders to transition into standard trading conditions.

Islamic Account

 RoboForex has a dedicated Islamic Swap-Free account type. Instead of the swap, owners of Swap-Free accounts pay a predetermined forex fee that is determined only by the currency pair and the number of open lots, not by the issuing banks’ interest rates.

 Swap-free accounts were designed specifically for customers of the Muslim faith who are prohibited from trading using swaps under Sharia law. Muslim traders interested in this account can only register and convert Cent, R StocksTrader and Pro Accounts.

 The commissions that Muslim Traders can expect will depend on the financial instrument that they trade, with certain groupings indicated on the official RoboForex website.

Demo Account

 The RoboForex demo accounts mimic the trading conditions of their live counterparts without exposing traders to the risk of loss. With RoboForex, traders can use demo accounts across all trading platforms and financial markets offered by the broker.

Deposit and Withdrawal

 RoboForex does not charge any deposit fees, but the following withdrawal fees are charged:

Process to Withdraw Funds from a RoboForex Account

 To withdraw funds from a RoboForex Account, traders must first ensure that their account has been verified and approved, then follow these steps:

️​ Traders can log into their RoboForex Members Area and navigate to “Withdraw Funds”.

️​ Traders must ensure that the active account in the Members Area is the one that they want to withdraw funds from.

️​ Traders can select their preferred payment method from the list provided.

️​ Traders can select “Go To”.

 Traders may be subject to providing additional information depending on the payment method that they selected. This can be done on the next page of creating a withdrawal request. Traders must note that all withdrawal requests are processed by the broker in two business days, from 9 am to 6 pm (EET).

Bonuses and Promotions

 RoboForex offers a wide range of bonuses and promotions including:

️​ Promotion to the value of $1.1 million to celebrate 11 years of RoboForex

️​ Welcome Bonus

️​ Profit Share Bonus

️​ Classic Bonus

️​ Cashback (rebates)

️​ Up to 10% back on trading accounts

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