RoboForex Review

RoboForex Review

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Roboforex was established in 2009 who only managed to obtain over 1000 users, but 2010 saw their user base grow exponentially from 1150, to 136,000. Roboforex is part of the Roboforex Group, and since the start of its inception in 2009, they have been on a mission to provide the best trading conditions. Such a mission is no mean feat, and requires some hefty characteristics, one of which is the innovative technologies, coupled with the many years of experience the team has collected over the years. Roboforex is an international brokerage platform, which offers the main asset classes, which include forex, commodities, ETFs, Stocks, Indices and most recently, Cryptocurrencies. Along with the main asset classes, the platform also provide 8,700 instruments for trading, so there is plenty for you to sink your teeth into.

Adding to Roboforex’s success, they have won multiple awards, which gives it credence that this platform is of high quality stature. Since its birth in 2009, it has constantly growing its user base each year performing better than the last, here are the figures outlining the user growth:

  • 2009 - The year it was launched saw the platform obtain 1150 users.
  • 2010 - A year later saw their user base grow significantly to 136,000
  • 2011 - This year the number of users grew to 251,000
  • 2012 - 365,000 users
  • 2013 - 447,000 users
  • 2014 - 543,000 users
  • 2015 - 678,000 users
  • 2016 - 865,000 users

In their efforts to provide the best trading experience for their users, they have joined the long list of platforms to introduce Cryptocurrency trading. This move alone has helped contribute to their massive jump in users in recent months. The main cryptocurrency pairs that are available on the Roboforex platform are; BTCUSD, ETHUSD, XRPUSD, BCHUSD, DSHUSD, LTCUSD.

What is RoboForex?

Founded in 2009
It was in 2009 that saw the birth of RoboForex, and their main goal is to provide the best trading conditions, by using the latest innovative technologies available. Overall, the platform covers a range of asset classes, and have recently added the ability to trade the cryptocurrency markets.

Part of the RoboForex Group
The Roboforex platform falls under the umbrella of the RoboForex Group, which is fully regulated by the CySEC. The company has a host of different products such as CopyFX, which is an investment platform for copying transactions via the MetaTrader 4 platform.

Affiliate Program
RoboForex has an affiliate program for partners who want to join their community, with revenue shares of 50%. The great thing with an affiliate program is that users can make more money apart from the profits they make from trading. It should be noted that the affiliate commission rate for transactions involving cryptocurrencies is 25% of the company’s revenue.

Demo Accounts
The RoboForex platform allows for new traders the luxury of a demo account, which can be used to demonstrate or refine their trading strategy.

WebTrader & MobileTrader
For those traders who prefer to always be on the move, RoboForex present the exclusive RoboForex trading platforms: WebTrader and MobileTrader.

Cryptocurrency Trading
RoboForex actually allow users to open accounts in BTC, and deposit funds via the Bitcoin system without conversion. A huge step forward for cryptocurrency fans.

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RoboForex is like any other brokerage platform there is, with its level of complexity and prowess in being able to create a trading experience like no other. Furthermore, to give them their due, they have even the proud sponsors of the “Starikovich-Heskes Team” at the Dakar Rally in 2017. Given the very public image they have now achieved, they must endeavour to keep pushing the boat out and always find new ways to offer that ultimate trading experience that is second to none.

Features

This is the part I love about RoboForex, because they have so many attractive features, it makes it difficult not to love them. Ranging from demo accounts to Islamic accounts, they have thought of pretty much anything a trade could want when looking for a broker.

Islamic Accounts
RoboForex offers a very specific account type, who are of the Islamic religion. It includes Islamic Swap-Free accounts, and instead of the swap, the owners of the Swap-Free accounts are charged a fixed commission. The commission is dependent only on the type of currency pair and the number of open lots, but no on the issuing banks’ interest rates. This account was created for clients of the Muslim belief, as they are not permitted to trade with swaps because of Sharia Law.

Cent Accounts
Fix-Cent and Pro-Cent accounts have been developed by the RoboForex team, in an attempt to create the perfect tools both for the continuation of learning how to trade, as well as testing trading conditions for real accounts. Forex Cent accounts are the best way to enter the world of real trading with as little risk as possible. The main feature of these accounts is that they use cents as the unit and allow you to start trading with small initial investments.

ECN Accounts
An ECN (Electronic Communication Network) account is an electronic trading network, with the sole purpose of avoiding any additional intermediaries when making transactions on the forex market. As well as avoiding any intermediaries when trading, it is also able to provide the best possible conditions for each order a trader will place: high speed of execution, low spreads and best prices.

Conclusion

Given that RoboForex have achieved such tremendous success since its birth in 2009, they are a platform that I can really see as being one of the most popular in the years to come. They have gone having just over 1000 users in their first year, to having nearly 1 million users in 2017. Not to mention the sponsorship deals that they have managed to obtain over the years, which will have certainly helped their media coverage.

Overall, I would grant RoboForex a 4.5 / 5 rating, due to the sheer amount of content and features that they have managed to compile. Every new trader who starts their journey, is going to face some difficulty at times, and one of the key aspect between a successful trader and one that is not, is whether or not they are confident in the platform they are using. I would personally feel completely at ease with RoboForex, in their ability to continually offer the best trading conditions when they initially set off.