RoboForex Qatar Review

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RoboForex Review Qatar

Here, RoboForex is a Forex and CFD broker founded in 2009. It is an official partner of BMW M Motorsport and is regulated by the IFSC of Belize and offers clients access to trade on more than 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies and Metals, all through the popular MetaTrader 4 and MetaTrader 5 platforms as well as the cTrader platform and the broker’s proprietary R StocksTrader platform.

Clients can choose from five account types called Prime, ECN, R StocksTrader, ProCent and Pro. ProCent and Pro accounts are commission-free whereas the Prime, ECN and R StocksTrader accounts are commission-based. Overall, trading costs are competitive across all accounts and users can further benefit through rebates if they trade enough volume. Islamic and demo accounts are also available.

Deposits are fee-free across a range of popular payment methods including debit/credit cards, bank wire, Neteller, Skrill, PerfectMoney, AdvCash and more. Withdrawals do mostly incur a fee, however, the broker does offer a promotion of fee-free withdrawals every first and third Tuesday of each calendar month.

Clients can also benefit from various bonuses and promotions such as the Welcome Bonus, Profit Share Bonus and the Classic Bonus. The broker offers extensive market research and educational material that is suitable for beginners and advanced traders. Multilingual 24/7 customer support is also available via Phone, Live Chat, Email, Facebook Messenger, Telegram and more.

RoboForex Qatar

Investor Protection & Regulations

“RoboForex Limited is regulated offshore by the Financial Services Commission (Belize).”

RoboForex Limited is regulated offshore by the International Financial Services Commission (Belize), as shown on the regulator’s register below:

The broker provides further security of client funds by following the below regulatory requirements:

  • Holding Funds in a segregated account from company funds.
  • Negative balance protection policy.
Olymp Trade
  • Minimum Deposit $10
  • MT4, MT5, cTrader, Webtrader
  • Regulators: FSC
  • Negative Balance Protection
  • Leverage: 1:2000

Free Demo Account

 

Pocket Option

 

RoboForex Review QatarTradable Products

“RoboForex offers clients the ability to trade on more than 12,000+ financial CFDs covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals.”

This broker offers clients the ability to trade on more than 12,000+ financial CFDs covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals. Below is a list of just some of the available markets for trading:

Details regarding the available assets are taken from the RoboForex website and trading platform and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the account type opened and instrument being traded and are covered further down this review.

Account Opening

“RoboForex offers clients five main account types called Prime, ECN, R StocksTrader, ProCent and Pro. Demo and Islamic (swap-free) accounts are also available.”

RoboForex offers clients five main account types called Prime, ECN, R StocksTrader, ProCent and Pro. Demo and Islamic (swap-free) accounts are also available. The main features of each account are summarised in the below table:

Users can open a new account in just four steps which are described below:

  1. Register: Name, email, password and contact number.
  2. Account Type: Select trading account type, currency, leverage and trading platform.
  3. Personal Information: Country of residence and address.
  4. Verify Identity: Proof of identity (passport or driving licence) and proof of residence (utility bill or bank statement – not more than 6 months old).

The client portal is shown below:

RoboForex Ltd does not accept clients from the following restricted countries: USA, Canada, Japan, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan.

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Deposit & Withdrawals Options

“RoboForex offers a wide variety of deposit and withdrawal methods such as debit/credit cards, bank wire, Neteller, Skrill, PerfectMoney, AdvCash and more.”

This broker offers a wide variety of deposit and withdrawal methods such as debit/credit cards, bank wire, Neteller, Skrill, PerfectMoney, AdvCash and more. The below tables show the fees, processing times and accepted currencies for some popular funding methods:

Clients can deposit and withdraw funds through the client portal.

Web & Desktop Trading Platforms

“RoboForex offers clients the ability to trade on the globally recognised MetaTrader 4, MetaTrader 5 and cTrader trading platforms, as well as its proprietary R StocksTrader platforms.”

RoboForex offers clients the ability to trade on the globally recognised MetaTrader 4, MetaTrader 5 and cTrader trading platforms, as well as its proprietary R StocksTrader platforms. The platform features are highlighted below:

RoboForex MetaTrader 4 (Web/PC)

  • Trade on multiple asset classes.
  • Real-time quotes in Market Watch.
  • Customisable price charts.
  • Multiple analytical instruments.

RoboForex MetaTrader 5 (Web/PC)

  • Advanced charting.
  • One-click trading.
  • Clean & User-Friendly Interface.
  • 21 timeframes.

RoboForex cTrader (Web/PC)

  • 14 timeframes.
  • 51 technical indicators.
  • Trading robot builder.
  • 9 types of interactive charts.

R StocksTrader (Web)

  • Multiasset terminal.
  • Level II Market Depth.
  • 38 technical indicators.
  • No download needed.

RoboForex Terminal (Web)

  • Suitable for MT4 accounts.
  • 13 technical indicators
  • 9 tools for graphic analysis
  • Analytics from RoboForex experts

A screenshot of the RoboForex WebTrader is shown below and is covered in more detail in the video review.

Olymp Trade Review

Mobile Trading Platforms

“RoboForex offers clients the ability to access mobile trading on the go from the MetaTrader 4, MetaTrader 5, cTrader and R MobileTrader apps for Android and iOS systems.”

RoboForex offers clients the ability to access mobile trading on the go from the MetaTrader 4, MetaTrader 5, cTrader and R MobileTrader apps for Android and iOS systems which can be downloaded from the Google PlayStore or Apple AppStore respectively.

The RoboForex mobile trading app provides a range of different features including:

  • Multiple asset classes.
  • Real-time pricing and interactive charts.
  • Live trading on the go.
  • Free professional charting tools.

The R MobileTrader app is covered in more detail in the video review.

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Trading Features

“RoboForex offers clients access to CopyFX which is a social trading platform, R Strategy builder, and a free Virtual Private Server (VPS).”

RoboForex offers clients access to CopyFX which is a social trading platform, R Strategy builder, and a free Virtual Private Server (VPS). Each of these is explained below:

  • CopyFX: Users can join a community of traders and copy the trading strategies of profitable traders.
  • R Strategy builder: Allows users to create their own trading robot without any coding experience.
  • VPS: Offers a low-latency trading environment, superior execution and 24/7 uptime which is ideal for automated strategies.

Further, clients trading through the MetaTrader platform can access the MetaTrader marketplace to access thousands of additional trading tools and strategies.

Commissions & Spreads

“Trading costs with RoboForex vary depending on the account type, platform and the market traded with some accounts commission-free and some commission-based.”

Trading costs with RoboForex vary depending on the account type, platform and the market traded with some accounts commission-free and some commission-based.

Pro Cent (for Currency and Metal CFDs):

  • Commission-free with spreads and swaps payable.

    Pro Standard (for Currency, Metal, Oil, Index and US Stock CFDs):

    • Commission-free with spreads and swaps payable.

      ECN Accounts

      • $20 per million traded on Forex pairs.
      • $5 per million traded on CFD Indices.
      • $20 per million traded on Metals.
      • $200 per million traded on US Stock CFDs.

      Prime Accounts

      • $10 per million traded on Forex pairs.
      • $4 per million traded on CFD Indices.
      • $10 per million traded on Metals.
      • $150 per million traded on US Stock CFDs.

      R StocksTrader Platform

      • US Stocks (accounts with a deposit from $10,000) commission of 0.0045 USD per share with a minimum commission of 0.25 USD.
      • United States Stocks commission of 0.02 USD per share with 1.5 USD minimum.
      • US Stock CFDs commission of 0.015 per share with 1.5 USD minimum.
      • European Stock CFDs commission of 0.07% with a minimum commission of 2.8 GBP.
      • Forex commission of 15 USD per 1 million base currency.

      For Non-Islamic accounts, overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

      The broker does not charge any inactivity account fees.

      Bonus & Promotions

      “As RoboForex is based offshore there are various bonuses and promotions available including a Welcome Bonus, Profit Share Bonus and a Classic Bonus. The broker also offers commission-free withdrawals each calendar month and a cash rebate for users trading enough volume.”

      As RoboForex is based offshore there are various bonuses and promotions available including a Welcome Bonus, Profit Share Bonus and a Classic Bonus. Each of these is explained further below:

      • Welcome Bonus: New users who open Pro or ProCent accounts using a MetaTrader platform will receive a welcome bonus of 30 USD. Users will need to make a minimum deposit of 10 USD and this bonus cannot be lost or withdrawn.
      • Profit Share Bonus: Users who have a Pro or ProCent account with a MetaTrader platform can receive up to a 60% bonus on their first deposit amount. The bonus can be used during drawdown and allows users to increase positions and trading volume.
      • Classic Bonus: Users who have a Pro or ProCent account with a MetaTrader platform can receive up to a 120% bonus on their deposit amount up to a maximum bonus of 50,000 USD.

      Each calendar month users can withdraw funds fee-free every first and third Tuesday of each calendar month. There is also cashback (rebate) incentive promotions that allow users to receive a rebate on their traded amount. A minimum threshold does need to be met to qualify for the rebate and generally, the higher the volume traded the higher the rebate.

      RoboForex Review QatarCustomer Support

      “RoboForex offers multilingual customer support 24/7 via Phone, Live Chat, Email, Facebook Messenger, Telegram and more. There is also a detailed FAQ section that provides questions and answers across a variety of topics.”

      RoboForex offers multilingual (English, Malay, Portuguese, Spanish, Chinese, Thai, Ukrainian, Arabic, Czech, Uzbek, Kazakh, Taiwanese, Vietnamese) customer support 24/7 via Phone, Live Chat, Email, Facebook Messenger, Telegram, Viber, Skype, WhatsApp and Line. There is also a detailed FAQ section that provides questions and answers across a variety of topics.

      After submitting a question through the live chat we were connected to an agent who answered our question within 5 minutes, as shown below:

      Contact Information:

      • Address: 2118 Guava Street, Belama Phase 1, Belize City.
      • Email: info@roboforex.com
      • Phone: +65 3158 8389
      • Social Media: Facebook
      • Twitter
      • Instagram
      • YouTube

      Research

      “RoboForex offers a wide variety of market research through the RoboMarkets Analytics Center which includes news, analytics, weekly forex forecasts, trading ideas, an economic calendar and more. ”

      RoboForex offers a wide variety of market research through the RoboMarkets Analytics Center which includes news, analytics, weekly forex forecasts, trading ideas, an economic calendar and more. The main research available is explained further below:

      • News: Streamlined news feed providing regular forex market updates including important data releases and events.
      • Analytics: Provides detailed technical analysis across various asset classes several times a day. This includes key trading levels as well as market direction predictions.
      • Weekly Forex Forecasts: Includes weekly analysis videos across various forex markets. Videos are uploaded to the broker’s YouTube channel.
      • Trading Ideas: Comprehensive quarterly review of various markets including forex, indices, shares and commodities. These articles are posted once a week.
      • Economic Calendar: Keep up to date with key market events and economic data releases across the globe.

      The broker also provides various other tools including a historical volatility graph, fibonacci calculator, deal size indicator, currency converter and more. Overall, the content is extensive and is suitable for beginner and advanced traders.

      Trader Education

      “RoboForex offers broad educational material that includes Trading Strategies, MetaQuote videos, a Glossary, Global Economic Indicator definitions, Video Courses and an Ebook.”

      RoboForex offers broad educational material that includes Trading Strategies, MetaQuote videos, a Glossary, Global Economic Indicator definitions, Video Courses and an Ebook. Each of these is explained further below:

      • Trading Strategies: Features a description of various trading strategies and when they should be applied.
      • MetaQuote Videos: Includes various videos by MetaQuotes on hosting, signals and advisors.
      • Glossary: An extensive list of key trading terminology and their definitions.
      • Global Economic Indicators: Includes the description and importance of various global economic definitions.
      • Video Courses: Contains informative videos on forex markets, chart patterns, technical analysis, chart indicators and more. The videos are animated and simple to understand.
      • Ebook: Includes a comprehensive beginners guide to the forex markets. Topics include an introduction to forex, technical and fundamental analysis as well as trading psychology and risk management.

      RoboForex Review QatarTrading Experience

      “RoboForex provides a great all-around service to clients allowing them to access over 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals. Users have access to multiple trading platforms as well as extensive market research and education material.”

      RoboForex provides a great all-around service to clients allowing them to access over 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals. There are multiple platforms available including MetaTrader 4, MetaTrader 5, cTrader and the broker’s proprietary R StocksTrader platforms.

      There are five account types available called Prime, ECN, R StocksTrader, ProCent and Pro. ProCent and Pro accounts are commission-free whereas the Prime, ECN and R StocksTrader accounts are commission-based. Overall, the trading costs are competitive and transparent.

      The broker offers a wide variety of bonuses and promotions for users to take advantage of and there is also an extensive amount of market research and educational material available for both beginner and advanced traders.

      RoboForex Review Qatar – FAQs

      Is RoboForex regulated?

      RoboForex Limited is regulated offshore by the Financial Services Commission (Belize).

      Where is RoboForex based?

      2118 Guava Street, Belama Phase 1, Belize City.

      How do I deposit in RoboForex account?

      Funds can be deposited into a trading account via debit/credit cards, bank wire, Neteller, Skrill, PerfectMoney, AdvCash and more.

      What is the min. deposit for RoboForex?

      The minimum deposit is $10.

      How do I withdraw money from RoboForex?

      Withdrawals can be made via debit/credit cards, bank wire, Neteller, Skrill, PerfectMoney, AdvCash and more.

      What is the max leverage in RoboForex?

      1:2000.

      How do I open an account with RoboForex?

      An account can be opened at the click of a button on the RoboForex website and can be done in just a few steps.

      Does RoboForex use MetaTrader?

      Yes, MetaTrader 4 and MetaTrader 5.

      RoboForex Review Qatar – Conclusion

      “RoboForex Limited is regulated by the IFSC of Belize and offers clients access to trade on more than 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies and Metals, all through the popular MetaTrader 4 and MetaTrader 5 platforms as well as the cTrader platform and the broker’s proprietary R StocksTrader platform.”

      It is a Forex and CFD broker founded in 2009. It is an official partner of BMW M Motorsport and is regulated by the IFSC of Belize and offers clients access to trade on more than 12,000+ financial CFD instruments covering Forex, Stocks, Indices, ETFs, Soft Commodities, Energies and Metals, all through the popular MetaTrader 4 and MetaTrader 5 platforms as well as the cTrader platform and the broker’s proprietary R StocksTrader platform.

      Clients can also benefit from various bonuses and promotions such as the Welcome Bonus, Profit Share Bonus and the Classic Bonus. The broker offers extensive market research and educational material that is suitable for beginners and advanced traders. Multilingual 24/7 customer support is also available via Phone, Live Chat, Email, Facebook Messenger, Telegram and more.

      • Commission-free trading available
      • 12,000+ financial CFD instruments.
      • Bonuses and promotions available.
      • MetaTrader 4 and MetaTrader 5 platform available.