Reviews About RoboForex From Clients From Ecuador
RoboForex is a well-known broker, with users across many countries testifying positively about the broker's excellent trading service. While the broker lists some countries where its services are not available, before choosing to open an account with RoboForex in Ecuador, it is best to confirm that they accept clients from your jurisdiction. Also, read feedback about RoboForex services from previous users and review their regulatory status, trading terms and conditions, and possible pros and cons of the investment platform.
In this article, TU experts will provide you with RoboForex reviews in Ecuador. Read on.
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Why should I read reviews about RoboForex?
Broker reviews in Ecuador can provide traders with information about trading platforms, trading fees, responsive customer service, trading platforms, and whether RoboForex pays out profits.
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Is RoboForex legit or not?
RoboForex is a trustworthy broker approved and registered by Belize City's FSC. The company has its head offices in Belize City, with a registered address of 2118 Guava Street, Belama Phase 1, Belize City, and another business address at 9724 Ramiro Duran Street, Belize City. They offer trading services to both corporate and retail customers.
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Where can I write a review about RoboForex?
While users of RoboForex can leave reviews in the platform's comment section, it is a good idea to post reviews on other websites. Traders Union, Trustpilot, Forex Peace Army, RoboForex's Google Business page, and other online review sites and forums provide a comprehensive forum for sharing thoughts and information. Users can easily share their opinions and provide feedback on RoboForex through popular social media platforms like Facebook, Twitter, and LinkedIn.
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Who is the owner of RoboForex?
The RoboForex Group owns RoboForex, an online trading broker established in 2009.
RoboForex reviews from traders in Ecuador
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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 Ecuador? Is it Legit?
The answers from many online review forums about RoboForex indicate that although it is not regulated in Ecuador, it is a legitimate trading platform that accepts clients from the region. RoboForex is regulated and operates under a license (license No. 000138/437) from FSC Belize.
FSC Belize, an international financial commission and regulator, has stringent requirements for brokers and only grants licenses to businesses that fulfill these requirements. Since RoboForex satisfies these requirements, they are permitted to conduct business in nations other than Belize, where it is regulated.
The Ecuadorian financial agency considers the regulatory framework and license held by RoboForex to be fair, ensuring continued accessibility to traders. The broker offers efficient, reliable and open services by regularly auditing, observing, and certifying its members. As a category "A" member of the Commission's Compensation Fund, RoboForex offers traders protection of up to €20,000 per case if the broker fails to comply with Financial Commission rulings.
Professionals in the financial sector view RoboForex as a trustworthy and genuine trading platform that both inexperienced and experienced traders can use. The business has earned numerous prestigious accolades for its outstanding offerings.
How to start trading on RoboForex
RoboForex provides excellent trading conditions, seamless account management, quick order execution, and fast deposit and withdrawal. The broker provides CFDs on stocks, indices, commodities, energy, futures, and currency pairs among its wide range of 12,000 financial instruments. To begin trading on the RoboForex platform, traders must first open a real or demo account. Traders can trade a variety of instruments with the free demo account in the same way as they would with a real account. This is the perfect account if you want to comprehend the subtleties of buying and selling on RoboForex.
If a trader possesses the necessary trading knowledge to trade with a real account, they can proceed to create one, though this time there is a cost involved. To trade on a real account, you must deposit a minimum of $10. By using tools such as the copy trading system, traders can begin trading with a real account, even if they have no prior trading experience. To begin trading, traders can copy the trading strategies of other traders using RoboForex CopyFx.
In addition, RoboForex offers free VPS access, a blog, StrategyQuant, an EA Wizard, an EA creator, and a margin calculator for customers to preview positions and liabilities.
It is recommended that new traders begin with a demo account before moving on to a real account because it is better to have some basic experience trading stocks or currency pairs. Let us look at how to register for a RoboForex account, either a demo or a real one.
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
Before you place the trade, select the symbol or currency pair to trade, set the volume and stop loss and take profit limits, set the market execution, type, and choose to buy or sell depending on your strategy.
RoboForex official website
RoboForex Trading Hours
RoboForex is open from 12:00:01 AM (server time) on Monday until 11:58:59 PM (server time) on Friday. RoboForex's server time is always two hours ahead of Coordinated Universal Time (UTC +2); this difference rises to UTC +3 during Daylight Saving Time. As a result, from March to October, the server time is UTC+3, and from November to March, it is UTC+2.
In different areas, the market may open and close in the morning, noon, evening, night, or early in the morning. Trades have four different Forex sessions to choose from, based on their time zone and the market opening time:
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London Session
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New York Session
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Sydney Session
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Tokyo Session
Specific start and end times apply to each of these sessions. Since RoboForex's trading hours are closely linked to the Forex trading sessions, it is imperative to consider these factors when trading. The time difference between the opening and closing of the RoboForex trading sessions and the Forex trading sessions is shown in the following table.
| Forex session Region/City | Open (UTC+2 (Eastern European time, EET)) | Close (UTC+2 (Eastern European time, EET)) |
|---|---|---|
| ASIA | ||
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2:00 |
10:00 |
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2:00 |
10:00 |
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3:00 |
11:00 |
| America | ||
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15:00 |
23:00 |
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16:00 |
24:00 |
| Europe | ||
|
9:00 |
17:00 |
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8:00 |
16:00 |
| Pacific | ||
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22:00 |
6:00 |
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22:00 |
6:00 |
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).