Reviews About RoboForex From Clients In Bolivia
Forex regulations specify whether residents are permitted to trade with offshore brokers or engage in forex trading and the circumstances in which they may do so. Bolivia, a landlocked country in South America, allows its residents to engage in Forex activities with regulated offshore brokers like RoboForex. However, these traders must ensure that each broker is supervised by reputable financial regulators and conduct due diligence on them before committing. For example, reading RoboForex reviews is a surefire way to learn about the broker's services; reading feedback about RoboForex from previous traders helps verify the authenticity of the broker's services.
In this article, TU experts will present traders with RoboForex reviews in Bolivia and their regulatory status.
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Why should I read reviews about RoboForex?
By reading RoboForex reviews in Bolivia, a trader can find out if RoboForex pays out profits, how easily transactions can be completed on the platform, trading fees, trading platforms, and the responsiveness of their customer support.
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How many years has RoboForex been operating?
RoboForex has been in operation since 2009, which means they have been operating for 15 years.
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Does RoboForex work legally or not?
Yes. RoboForex is trustworthy since it operates with a license (license No. 000138/437). This broker is regulated and licensed by the FSC in Belize.
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How to make money with RoboForex in Bolivia?
Consideration should also be given to the kind of revenue opportunity you select on RoboForex. Your earning potential on RoboForex is contingent upon your proficiency, track record, and reliability in the trading world. However, you can make money on RoboForex by trading currency pairs and stocks using top trading strategies. If you are inexperienced, you can make money copying the trades of expert traders using the CopyFx feature. RoboForex contests and affiliate marketing are other ways traders can increase their earnings on the platform.
RoboForex reviews from Bolivian traders
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Comment
RoboForex trading account setup is fast and it was easy for me to pull my first trade on MT4. There are 3 types of order execution and loads of ready-to-use indicators and tools for technical analysis and graphic analysis on the trading platform. Among the different order types, the market order is the simplest. When executing this entry order, it opens a trading position immediately, helping me achieve my main goal of selling or buying the asset at the current market price without delay. Also, the broker's EUR/USD spread is close to the declared 0.2 - 0.5 pips. In other currency pairs, it's better to consider the limit order because spreads could be pretty wide.
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Comment
Today,April 11, 2024, I made a deposit using a new payment method to fund my RoboForex trading account. I always received the deposited amount real-time in my previous service provider and was expecting the same this time. That did not happen unfortunately. I waited for five hours before finally contacting the RoboForex customer service just in case it was just a minor glitch in the system. The platform has a number of customer service channels to choose from like Whatsapp, Telegram, Messenger, etc which is convenient. I contacted them through Facebook Messenger at 2 pm local time (+8 GMT) and got a response right after I sent my concern. Website says customer service is 24/7. Was asked to provide my trading account number and made it clear that some transactions can take up to five business days to reflect, depending on the service provider. But somehow the funds made it into my account within the day after the interaction. Happy about their prompt response on this one.
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Comment
I signed up with RoboForex two weeks ago and the process went smoothly overall. Only one thing to remember: they have a specific requirement on the password format which took a bit of my time. I use the same password on all my trading accounts which RoboForex kept rejecting, so had to come up with a new one which for me is a source of slight inconvenience for my future transactions. After submitting the documents confirming my identification and home address, they sent me an email informing that my MT4 Pro account has been successfully opened. It’s fast. There are four different account types to choose from: Demo, Real, CopyFX Trader, and Partner which appeals to different types of traders and I selected a demo since I am a beginner. From my understanding you can open multiple accounts at once and there can be different types, depending on preference. The demo account has a $10,000 balance and a 1:1000 leverage and I just started playing around. Wish they will be more flexible with th
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Comment
RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.
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Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company
Is RoboForex regulated in Bolivia? Is it legit?
Yes. RoboForex is a regulated Forex broker operating under a license (license No. 000138/437) from FSC Belize. Although this broker is not subject to Bolivian financial regulators, the country's financial services accept the financial standards RoboForex adheres to. This is why the broker's services are not banned or tagged, as traders can confidently trade with this broker without being intercepted by the Bolivian financial agencies.
Bolivia's financial regulators advise its citizens interested in the trading market to deal only with offshore brokerages under the supervision of top financial regulators. RoboForex Regulators (FSC Belize) is a global financial commission and regulator known for establishing stringent guidelines for each of its members. This financial body evaluates the services it licenses and offers and can authorize financial investment platforms that fulfill the regulator's requirements. RoboForex adheres to these rules and protocols set by the FSC, and they accept clients in Bolivia and comply with the country's financial trading services.
RoboForex is an excellent broker for novices, as it educates users on investing in the assets it provides, offers clear guidance on their rights and responsibilities, and assists traders in protecting their financial assets.
How to start trading on the RoboForex platform
RoboForex provides excellent trading conditions, seamless account management, and quick order execution via an easy-to-use Members Area. The broker provides CFDs on stocks, indices, commodities, energy, futures, and currency pairs among its wide range of 12,000 financial instruments. Before using the RoboForex platform to trade, traders must open a real or demo account. Traders can trade a range of instruments with the free demo account just like they would when using a real account. This is the ideal account if you want to comprehend the subtleties of buying and selling on RoboForex.
If an individual can trade with a real account and has the necessary trading knowledge, they can proceed to create a real account; however, this will incur costs. To trade on a real account, you must deposit a minimum of $10. With tools like the copy trading system, even novice traders can opt to begin trading with a real account. Traders can copy trading strategies and begin trading immediately with the aid of RoboForex CopyFx.
Before transferring to a real account, traders are advised to begin with a demo account. Idealistically, you should have a basic understanding of trading stocks or currency pairs. Let us look at how to register for a demo or real RoboForex account creation process.
Step 1: Visit the official page of the RoboForex investment platform
RoboForex official website
Step 2: Click open account, enter your details, and click register when you are done accessing the RoboForex membership area.
RoboForex official website
If you are already registered, you simply need to click the sign-in button, provide your login information, and log in.
Step 3: In your membership area, click on accounts
Since we are opening a demo account first, for now, select demo accounts. But you will follow the same procedure to open a real account when you are ready to trade on a live account.
Step 4: Click on confirm when you are done to start trading, but you will have to download the MT4 or MT5 trading platforms depending on your choice
RoboForex official website
Step 5: Launch your trading platform and enter the demo login details sent to your email. Choose the asset you wish to trade and create a buy or sell order.
RoboForex official website
Choose the trading symbol or currency pair, define the trade execution type and volume, set the stop loss and take profit limits, and decide whether to buy or sell based on your strategy before executing the trade.
RoboForex official website
How do I check a RoboForex reputation?
Knowing a broker's track record and range of services is crucial. RoboForex is a well-known and top offshore broker in Bolivia. Doing some research to support these claims is the best course of action if you want to be certain the broker's services are safe for your investment obligations. Some of the best methods for determining RoboForex's credibility are listed below.
1. Licensing and Regulation
Find out if this broker is regulated in your country; if not, ensure to acquire the license number and name of the regulating authority. Investigate the regulator to confirm its legitimacy as a financial authority.
2. RoboForex reviews in Bolivia
Look up client testimonials and RoboForex reviews in Bolivia and beyond on social media, discussion boards, and websites owned and operated by reputable bodies to assess the broker's credibility and dependability.
3. Trading Platform and Tools
Look through the broker's tools and trading platform. Your trading experience can be greatly improved by having strong features and an intuitive UI. Check to see if the broker offers a practice, also known as a demo or paper account, as it can be a useful tool for experimenting with the platform.
5. Customer Support
Evaluate the level of service, flexibility, and responsiveness of customer support provided by your chosen broker. Particularly in volatile markets, prompt and helpful support can be extremely important. In addition to ensuring availability during trading hours, you should verify that the broker's customer service department is accessible via phone, email, and live chat.
5. Transaction Costs and Fee
Learn about the spreads, commissions, and other fees that are included in the broker's fee structure. While low-cost options could be alluring, make sure there are not any additional costs that could raise your total trading expenses.
Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).