Robo Forex Broker

ROBO FOREX BROKER PROS AND CONS

We have used the service to test out the broker, trying to compare every aspect; Swap, Spread, Commission, Inquiries Service, Support, Deposit and Withdrawal, and all of the services of Robo Forex Broker and figure out what is suitable for traders.

Pros

  • There are various bonuses to choose from.

Cons

  • The system is not stable enough and there is a problem.
  • There is a problem with the Security 2FA system.
  • The deposit and withdrawal system is through individuals, not through intermediaries.
  • The website design is difficult to use. There are many steps.

ROBO FOREX BROKER BONUS

1. NO DEPOSIT BONUS

No deposit bonus for those who open a new account immediately, but only available one time per person. Profits can really be withdrawn. Just deposit $10 into your trading account and you will receive a $30 bonus. This bonus will not be deducted from your account if it is not used. There is also no expiration date.

2. Deposit Bonus

60% Profit Share Bonus: Up to $10,000 (total balance for one account) and $20,000 (total balance for all accounts) when opening a Pro-Cent or Pro-Standard account means that if you deposit $100, you will receive a $60 Bonus, resulting in $160 in trading credit. When topping up credit, you will receive an additional bonus in proportion to the deposit until the maximum amount is reached ($10,000 or $20,000 counts for Bonus only) and will not receive any more bonus.

120% Classic Bonus: Up to $50,000 when opening a Pro-Cent or Pro-Standard account. Customers can choose Classic Bonus from 25%, 50%, 100% or 120%. The active bonus refers to when you deposit $100, then receiving a $120 bonus if Equity is less than $120, the bonus will be deducted from your account or if you deposit $100, get a $120 bonus, trade to gain $20 profit, you can withdraw up to the profit without bonus cancellation. But you will be able to withdraw as much as the deposit + profit only when you cancel the bonus.

Cashback: Up to 15% when trading 3,000 Lots for Pro-Cent, Pro-Standard, and ECN-Pro accounts. Prime accounts get up to 10% cashback when trading 3,000 lots.

ROBO FOREX FREE VPS

Free VPS conditions for running EA of Robo Forex are as follows:

  • More than $300 deposit in the account (excluding bonuses).
  • Trade at least 3 Standard Lots
  • In case of trading less than 3 Standard Lots, $5 per month will be charged.

CPU Intel® Xeon® E5, RAM 1 Gb, SSD 30 Gb, Windows Server 2008 R2 64-bit

ROBO FOREXSPREAD AND SWAP INFORMATION

1. ROBO FOREX SPREAD

Our spread and swap cost calculations are already charged per 1 lot open order size of Standard account (100,000 USD per 1 lot), so the value shown is in USD.

There are 5 account types at Robo Forex: Pro-Cent account, Pro-standard account, Prime account, ECN account, and R trader account. In order to compare with brokers without commission from all 5 types of accounts in real-time situations, then averaged spread data is obtained as follows:

CurrencyPrime (MT4)ECN (MT4)
Pro-Standard (MT4)
Pro-cent (MT4)
R Trader
XAU/USD4750606058
EUR/USD4616165
USD/JPY4619196
GBP/USD68181810
USD/CHF5719195
USD/CAD7920207
AUD/USD4519195
NZD/USD8919198

2. ROBO FOREX SWAP

The daily cost of holding a trader’s position when trading with Robo Forex is charged when opening a 1 Lot Standard (100,000 Lot) order. It shows the daily cost of holding 1 Lot Standard account size as follows:

robo-swap-Prime
robo-swap-ecn

Spread and Swap comparisons of all brokers can be viewed to create a trading strategy. Build your own trading advantage here.

3. ROBO FOREX COMMISSION

OTHER ROBO FOREX BROKER INFORMATION

Robo Forex Broker has been established since 2009, long running Roboforex broker has developed its own approach such as Copy Trade service from profitable traders opening accounts with Roboforex. Roboforex shows many rewards received in an effort to build customer confidence.

Robo Forex is financially registered with the country in which its office is located with the following information:

  • Roboforex Ltd. is officially registered at IFSC, Belize.

ROBO FOREX ACCOUNT USAGE

Opening a Robo Forex Broker account can be done through the Platform. However, there is a support service available as well which can be contacted through Support

1. Robo Forex Account Opening Documents

Documents required to open a trading account with Robo Forex Broker include:

  1. Identity verification documents for Thais is ID card.
  2. The address verification document must be the same as the address shown on the identity card, telephone, and electricity bills.

2. Robo Forex Account types

There are several types of Robo Forex Forex trading accounts, with different pros and cons and distinctive features, designed for traders to choose according to their strategy and capital. The recommended leverage for customers is 1:500. The Roboforex order execution system will be having a Pro-Cent account system, which is suitable for low-income retail customers.

The table shows the account types of Robo Forex Forex Account

Robo-Prime
ECN
Robo-Pro-Standard

ROBO FOREX Support Service

We conducted a test communication with Support via chat and made an assessment according to the criteria; able to fix the problem, promptness of service, problem-solving intention, not just sending links to read to acquire answers. Therefore, we have reviewed the broker and found the following service problems:

Support does not contact back
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  • Support does not contact back. After operation hours, customers must resend message again.
  • Support is slow to respond.
Support business hours are from 5.00-14.00 on Monday-Friday
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  • Support can answer questions in English and cannot be changed to Thai immediately.
  • Thai Language Support is available on Monday – Friday, from 5.00 – 14.00 hrs. Other than that, only English Language Support is available.
  • Contact Support on Facebook: RoboForex Line ID: @roboforex
Contacting Support does not go into detail in answering questions.
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  • Support takes a long time to find answers.
  • Answering questions about the bank, not to specifying as to what banks are, but only mentioning leading banks.
  • Not answering all the questions completely.

“Overall, the disadvantages of Robo Forex’s Support are answering questions that are not relevant to the point and taking a long time to answer questions.”

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