Reviews About Roboforex From Clients In Denmark
When trading forex and other financial instruments, it is advised that traders trade with Forex brokers who are subject to the Danish Financial Supervisory Authority (DFSA). Since this financial regulator has a great deal of experience, traders can rest easy knowing that any Forex broker operating in Denmark will be reputable and trustworthy, in addition to abiding by all applicable laws and regulations. There are options for trading with offshore brokers like RoboForex, but you must ensure they are regulated. Reading RoboForex reviews and ensuring that the broker adheres to the rules set by the EU regulators since Denmark is an EU nation are among the first factors you should consider if you decide to use RoboForex as your trading platform.
So, in this article, TU experts will present traders with Roboforex reviews in Denmark along with other top information about this trading platform.
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Can RoboForex be trusted?
Yes. RoboForex is regulated, adheres to the trading terms in the EU set by the European Securities and Markets Authority (ESMA), is a category "A" member of the Financial Commission's Compensation Fund, possesses a Verify My Trade (VMT) certificate, and integrates a civil liability insurance program with a maximum cap of 2,500,000 EUR. The client's funds are deposited in a segregated account, and there are negative balance protections for the client's account.
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Is RoboForex a regulated broker?
RoboForex is a reliable broker that the FSC of Belize City has recognized and authorized. The company's head office is located in Belize City, where it also has a business address at 9724 Ramiro Duran Street and a registered address at 2118 Guava Street, Belama Phase 1, Belize City.
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How to open an account on RoboForex?
First, visit RoboForex's official website, click on open account, fill out the form to gain access to the membership area, and then choose the type of account you want to open. Follow the onscreen instructions and enter the required information in each field. Click confirm when you are through.
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Does RoboForex have bonuses?
Yes, RoboForex has bonus offers, and the 30-dollar welcome bonus is among the popular bonuses available. Bonus offers might not be available for clients in Denmark; contact RoboForex customer care to know the bonus available for traders in Denmark.
RoboForex reviews from traders in Denmark
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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
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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 Denmark? Is it safe?
RoboForex does not have a license in Denmark, but they accept Danish customers, and their trading conditions adhere to the country's financial laws. Financial regulators in Denmark warn traders against doing business with unregulated offshore brokers due to the unending activities of scam brokers. RoboForex operates under a license granted by Belizean financial regulators, where it has its headquarters. This financial brokerage company is governed by the FSC (license No. 000138/437, reg. number 000001272). Its registered address is 2118 Guava Street, Belama Phase 1, Belize City, Belize.
RoboForex does not only adhere to the FSC protocols; their trading terms in different EU countries are subject to the financial rules from the European Securities and Markets Authority (ESMA). This implies, among other things, that the amount of trading leverage available to novice traders is strictly capped (30:1).
While RoboForex maintains compliance with the financial standards set forth by the FSC, they are a category "A" member of the Financial Commission's Compensation Fund. Should a trader violate a Financial Commission ruling, RoboForex offers up to €20,000 in compensation per case. With the execution quality certificate Verify My Trade (VMT), RoboForex demonstrates its adherence to the strict guidelines set by the Financial Commission. Additionally, RoboForex offers industry-leading protection against a variety of risks that could result in financial losses for clients thanks to a civil liability insurance program with a maximum cap of 2,500,000 EUR.
RoboForex employs segregated accounts to safeguard user capital and uphold security. The broker provides features like mobile number verification and two-factor authentication by centralizing security configurations into a single module.
Can I withdraw profit from RoboForex?
Yes. Traders trading on the RoboForex trading platform can withdraw their profits from the platform. Most reviews about Roboforex by previous traders prove this to be correct, as most traders testify how they withdraw on the platform without stress.
You must be logged into your membership area in order to withdraw money from your RoboForex account. If you are logged into your membership area, choose Withdraw Funds and make sure the account you wish to take money out of is the one that is open and active in your member's area. Next, choose your preferred withdrawal payment option and complete the withdrawal by following the on-screen instructions.
The maximum RoboForex withdrawal period varies based on the withdrawal method used. The average turnaround time for withdrawing money from RoboForex is 24 to 48 hours during business days. Payment methods such as e-wallets, bank transfers, and credit/debit card withdrawals have varying processing times. The different payment methods and the time it takes for withdrawal orders placed with them are compared in the table below.
| Payment Method | RoboForex withdrawal time limit |
|---|---|
Local Bank Transfer |
up to 1 day |
VISA/MasterCard/JCB/CUP |
up to 10 days |
Bank Transfer (SEPA) |
up to 3 days |
up to 1 day |
|
STICPAY |
up to 1 day |
Perfect Money |
up to 1 day |
AstroPay |
up to 1 day |
up to 1 day |
Furthermore, the minimum and maximum withdrawal amounts for RoboForex differ depending on the method of withdrawal you select.
Pros and cons of RoboForex
Below are the advantages and disadvantages of RoboForex in Denmark.
👍 Pros
• Trader options for their investment portfolios are abundant with RoboForex's wide range of over 12,000 tradable instruments.
• RoboForex strives to cater to varying trader preferences. The platform offers a variety of account types, including standard accounts, ECN accounts, and Islamic (swap-free) accounts.
• The integration of MetaTrader 4 (MT4), MetaTrader 5 (MT5), and mobile trading platforms improves user experience because of their robust charting features and easy-to-use interfaces.
• With maximum affiliate payouts of up to 84%, the broker's affiliate program presents profitable opportunities.
• RoboForex places a high priority on fund security and offers incredibly low trading fees, creating a trading environment that is both safe and economical.
• Resources like a demo account and a copy trading system (CopyFx) help novice traders improve their trading abilities.
• RoboForex offers a range of educational resources, including market analysis, webinars, and tutorials, to cater to the needs of novice and experienced traders.
• Client testimonials attest to RoboForex's prompt, amiable customer support, which is accessible 24/7 through a range of contact channels.
• RoboForex offers commission-free ProCent and Pro accounts with a $10 minimum deposit, making them perfect for testing out new strategies and Expert Advisors (EAs).
• With a variety of payment methods, including bank transfers and credit cards, the platform enables instantaneous fund withdrawals.
• RoboForex offers an easy-to-use proprietary web-based trading platform that supports algorithmic trading.
• Trading professionals without coding experience can easily develop automated trading strategies with the RoboForex strategy builder.
• Accounts that remain inactive for a predefined period are not subject to inactivity fees.
👎 Cons
• RoboForex is regulated but not by a popular entity recognized in the EU
• A limited selection of 36 currency pairs is available for some accounts, including Pro, Pro-Cent, ECN, and Prime.
• On the R StocksTrader platform, another drawback is the lack of cryptocurrency trading tools.
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.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.