RoboForex has more than 4.56 million clients in almost 169 countries, and it has won numerous prestigious awards, including the “Most Trusted Broker” Award from International Business Magazine, the “Best Investment Products” Award from Global Brands Magazine, the “Best Mobile Trading App” Award from Global Forex Awards B2B, the “Most Transparent Broker” Award from World Economic Magazine, and the “Best Affiliate Program” Award from Global Forex Awards Retail. Traders Union provides you a brief overview of RoboForex.
For What RoboForex Recommended For?
According to the types of accounts and educational resources available, RoboForex is a marketplace that benefits both beginning and experienced traders. For instance, it includes guidance on how to begin trading on its website, showing that even complete beginners can use it. In addition, all accounts, aside from the ECN account can access the demo accounts, indicating that RoboForex has no issue allowing traders to gain experience before signing up with the broker.
Deposits and Withdrawals
Compared to other brokers of a similar nature, RoboForex provides a wider selection of funding options but levies higher withdrawal fees. The international AML (Anti-Money Laundering) standard requires that all withdrawals be made using the same procedure and for the same sum as the initial deposit. This is the practice followed by IFSC Belize. Numerous deposit and withdrawal options, including USD, EUR, and GBP, are provided by RoboForex. These choices are available in 9 different currencies. RoboForex doesn’t impose a charge for deposits, but depending on the method, withdrawal fees can range from 0.5% to 4%:
- Visa/Mastercard: Deposits are immediate and cost nothing. Withdrawals are prepared within one to ten days and are charged a 2.6% fee.
- Local Bank Transfer: Deposits are immediate and cost nothing. Withdrawals incur a 4% fee and take one banking day to process.
- Neteller: Deposits are immediate and cost-free. Withdrawals are processed at a 1.9% fee and can take one minute to a day.
- Skrill: Deposits are immediate and cost nothing. Withdrawals are subject to a 1% fee and may take one day or one minute to process.
Is RoboForex’s Fees Competitive?
Depending on the favored account type, RoboForex’s fees can be considered competitive. The broker’s accounts can be roughly divided into two groups: those that offer commission-free trading but with greater underlying spreads and those that combine low spreads and a commission that must be paid. While the latter is a good fit for high-volume brokers who do not place many individual orders, the former may be better suited to high-frequency traders who don’t execute large orders.
RoboForex No Deposit Bonus
Without making a deposit, you can start trading forex with the RoboForex No Deposit Bonus. Without making a deposit, you can receive up to $30 through bonus money for trading. A RoboForex no type of bonus is the best chance to make money without making any kind of investment. Additionally, it enables you to utilize RoboForex’s premium broker services for free! The RoboForex Welcome Bonus program includes this no deposit bonus offer. However, you must be aware of a few key requirements and rules before submitting an application for the bonus.
RoboForex spreads are created for the account sizes you use; however, the larger the account size, the improved spread offering is offered, so be sure to check the terms for the type of account you intend to use. At RoboForex, commissions and spreads begin at $15, with variable spreads beginning at 0.0 pip. With spreads starting at 0.0 pips and $15 commissions per one million USD trading volume via the Prime Account, RoboForex offers a significantly lower spread than some other brokers. The fees levied will depend on the account type selected, the options, the spread list, the required minimum deposit, commissions, and leverage. You can do some research to find out what other forex brokers are going to charge in your jurisdiction to get a better idea of the fees.
RoboForex Customer Support
RoboForex’s service quality and tutorials make it unlikely that you will ever need customer support, but the staff is available around-the-clock. Traders only need to click the green button on the website when assistance is required. The team is also reachable by phone or email for inquiries that call for in-depth explanations. The support is available in 12 different languages, which is the best part.
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