RoboForex Review Kuwait
RoboForex Company Details
Founded in 2009, RoboForex is headquartered in Belize and is regulated by the International Financial Services Commission (IFSC number 000138/210). The broker offers over 12,000 trading instruments in 8 asset classes as well as 2 investment platforms and 4 trading platforms.
RoboForex has gained a good reputation over the years with over 3 million live accounts opened since its inception. The company also made headlines as an official partner of BMW M Motorsport and signed a sponsorship deal with Muay Thai fighter and world kickboxing champion Andrei Kulebin.
The brand has a global presence, offering useful solutions ranging from copy trading to crypto deposits, RoboForex meets the needs of their customers.
- Website: roboforex.com
- Country: Belize
- Regulation: FSC, Belize
- Minimum Deposit: $10
- Negative balance protection
- Leverage: 1:2000
RoboForex Review Kuwait – Trading Platforms
MT4 includes all the necessary features of a beginner or advanced trader, including 50 indicators for technical analysis, basic graphical tools and 3 types of order execution. Users can program their own trading robots with StrategyQuant and take advantage of one-click trading capabilities.
The platform is available as a convenient webtrader accessible directly from a downloadable desktop client or browser.
Professional traders can take advantage of the sophisticated MT5 platform, which provides speed and reliability for advanced trading. The flexible system includes net and hedging capabilities, market depth, 4 types of order execution, 6 types of pending orders and dozens of technical indicators and graphical tools.
Again, users can enjoy downloadable PC applications or web-browser versions of the platform.
For experienced clients looking for an alternative to MetaTrader, the cTrader terminal is a smart choice. Users can access rare orders, Level II pricing and 54 technical indicators in 14 timeframes and 9 types of charts. You can also create trading robots and indexes using cTrader Automate.
The platform can be downloaded or accessed directly from the browser. The web version is ideal for MacOS PC users.
An easy-to-use proprietary platform, R StocksTrader offers a classic design and convenient trading for those who want to invest in the global market.
Users can access 13 technical indicators, 9 graphical tools, level II market depth and an automated strategy tester. Netting and hedging account models are also supported.
R StocksTrader is available both as a web-platform as well as a desktop application.
The platform allows real stock trading in addition to CFD trading. So clients can own the assets directly. It also provides live access to Nasdaq lists, meaning traders can see their orders being fulfilled.
Both are options for trading shares through traditional methods, but also through CFD derivatives, giving traders more flexibility than anywhere else.
The CopyFX platform provides copy trading for Roboforex customers.
Traders can find profitable traders, evaluate performance and set up alerts or signals based on their trading history. When copied traders open or close a trade, followers have 100% flexibility in whether the trade can be copied immediately.
The CopyFX Profibot system is one of the most researched and popular tools.
Clients can trade over 100 products, including 40+ currency pairs, over 12,000 global stocks, over 10 indices, including the Dow Jones (US30) and NASDAQ, oil and ETF.
The broker offers 26 cryptocurrencies plus crypto-indices, a unique product that allows you to trade multiple cryptocurrencies simultaneously.
Overall, this review was influenced by RoboForex’s product depth in 2022. Note: Detailed contract specifications can be found on the broker’s website.
RoboForex Review Kuwait – Spreads & Commission
The price depends on the account you choose but the spreads are fairly competitive vs. brokers like FBS and FXTM.
Fee spreads are included for Pro-Cents and Pro-Standard accounts, with an average of about 1.4 pips for EURUSD, 1.75 for US Indices and about 22 for XAUUSD (Gold).
You’ll see tougher spreads with Prime and ECN accounts, with zero pip spreads available in some asset classes.
RoboForex Review Kuwait – Leverage
The maximum leverage offered on RoboForex with Pro-Cent and Pro-Standard accounts is 1: 2000. Leverage up to 1: 500 is available on ECN accounts while 1: 300 leverage is offered with Prime and R Stockstrader accounts.
A useful margin calculator is provided on the website.
For mobile traders, RoboForex offers smartphone apps for all their trading terminals (MT4, MT5, cTrader, and R StocksTrader):
- MetaTrader – MT4 and MT5 users enjoy the same technical features as the desktop app with customizable charting tools, complete trading history and access to trading robots. The same member client login area is available on the mobile platform.
- cTrader – cTrader offers convenient features including pinch-to-zoom, fling scrolling and double-tap action on recent charts, as well as app-in-the-middle notifications.
- R StocksTrader – R StocksTrader (formerly R Trader) also offers full-featured and an all-in-one solution with in-app account deposit 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.
RoboForex Review Kuwait – Payment Methods
RoboForex has no shortage of financing methods, 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 minimum deposit of 10 USD / EUR with a standard account.
For non-EU clients, deposits in cryptocurrency are also available. Traders can deposit, trade and withdraw while using cryptocurrency.
There are 13 withdrawal procedures available, although this may vary depending on your jurisdiction. Withdrawal time for most procedures is only 1 day, which has been praised in 2022 customer reviews.
The commission for withdrawal varies from 0.5% to 2.8%. The group offers a free fundraising program that allows you to withdraw funds twice a month without any commission. More details and limitations can be found on the website.
Cryptocurrency withdrawal is available to non-EU clients.
RoboForex offers a choice of three demo accounts, suitable for all platforms: Demo Pro, Demo and Demo and Stock Trader.
The Demo Pro account is the most popular choice because it replicates the trading conditions of the standard account package with a floating spread from 1: 2000 maximum leverage and 1.3 pips.
Users can test trading strategies without actually spending money or risk.
You can open a demo account from the broker’s homepage. The practice account is free to use and expires after 90 days.
Pro-Cent and Pro-Standard new account users will receive a welcome bonus of 30 USD after depositing a minimum of 10 USD through a bank card.
Cents and Standard users can benefit up to 120% on deposits as well as 60% profit share bonus by claiming the classic bonus.
The broker also offers up to 10% bonus credit on account balance, cashback rebate based on trading volume, daily competition with ContestFX and other promotions including a free VPS server.
The full bonus withdrawal terms can be found on the broker’s website.
RoboForex does not currently offer any No Deposit Bonus (NDB) deals in 2022 but has previously offered weekly demo contests, so traders should check out the website for upcoming promotions.
RoboForex Ltd is regulated by the International Financial Services Commission (IFSC) of Belize under license number 000138/210.
As a member of the “A” section of the Financial Commission, RoboForex Ltd is a participant in the Compensation Fund, which provides protection up to € 20,000 in each case.
The broker holds citizen liability insurance and provides negative balance protection. Overall, RoboForex is a legitimate and secure online broker.
RoboForex’s educational suite includes many useful resources for casual traders and professional investors, including how-to guides, on-demand videos, forex analysis, as well as a helpful community forum, blog and economic calendar.
The most notable feature is the RoboForex Analytics Center, a free subscription to analytical data and trading instruments from within a window. Available in 13 languages, and offering an interactive data layout, users can gain access to signals, videos, calendars and tools for traders.
RoboForex offers 5 live account types: Prime, ECN, R Stockstrader, Pro-Cent and Pro-Standard. The minimum deposit is 10 USD / EUR for all accounts except the R StocksTrader account, which requires a deposit of 100 USD. These are refreshingly low minimum deposits compared to others like HotForex, TickMill and Exxon.
ECN and Prime accounts are ideal for professional traders looking for spreads from Zero Pip, while R StocksTrader accounts support multi-asset stock trading. Pro-Cents and Pro-Standard accounts are designed for new and casual traders.
This review shows that the main differences between the accounts are minimum margin requirements, leverage limits, margin call / stop-out levels and bonus access. All bonuses are available with the Pro account, although no bonus is available with the R StocksTrader account.
Islamic swap-free accounts are also available, as well as investment solutions using the CopyFX and RAMM platforms, supporting investments 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 the Live Market.
Reasons to open a RoboForex account include:
- Bonuses offered
- Decent range of assets
- 4 live trading platforms
- Commission-free trading
- Stock trading via traditional stock trading, or CFD derivative trading
- Copytrade investment platforms like CopyFX
The only major drawback for registering with RoboForex is:
- US clients not accepted
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 Review Kuwait
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 – firstname.lastname@example.org
- 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.
All RoboForex platforms use SSL encrypted security systems as well as dual-factor authentication protocols. Withdrawals and transfers can also be secured with an SMS confirmation code with each transaction. For their bonus programs, brokers also have anti-fraud measures to protect against repeated transfer of funds.
RoboForex Review Kuwait – RoboForex Verdict
RoboForex is an established online broker that offers a wide range of resources on reliable trading platforms including MT4 and R StocksTrader.
Brokers also provide regulated and negative balance protection, adding an extra level of confidence and security for traders.
Overall RoboForex is a good broker for all levels but their zero-spread ECN account and RAMM platforms will be particularly attractive to professional traders.
CopyFX offers a copy trading advantage on par with eToro and other market leaders.
Cryptocurrency deposit and withdrawal for non-EU clients presents a clear focus on providing innovative and flexible trading options for clients.
RoboForex accepts traders from Kuwait, Thailand, UK, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, UAE, Saudi Arabia, Luxembourg, Qatar and other countries.
Traders from the United States, Canada, Japan, Australia, the Russian Federation will not be able to use RoboForex.
RoboForex Review Kuwait – FAQ
Is RoboForex a scam or not?
RoboForex Limited is a legitimate company registered in Belize and regulated by the International Financial Services Commission (No. 000138/210).
As a result, it is less likely to be a scam. That being said, the broker gets mixed reviews on websites like TrustPilot.
How do I open a RoboForex account?
You can sign up for an original account by clicking Open Account on the right side of the website. You will then need to fill in the details of your new member in order to register the login certificate in your area. The verification phase will complete the process.
How can I delete my RoboForex account?
You can deactivate your account from the member area. From the Accounts section, change the status of the account you want to remove to ‘No’.
Does RoboForex accept US clients?
No, traders from USA cannot sign up for a Live Trading Account. Clients in Canada, Japan and Australia are also unable to register for a RoboForex account.
Is RoboForex a Market Maker?
For all cents account, RoboForex acts as a market maker. For all standard and ECN accounts, the broker follows an STP model.