Reviews About Roboforex From Clients From India
RoboForex is a legal and reliable broker for beginner and expert traders in India. This offshore broker is regulated by the FSC in Belize.
Forex trading is a legitimate financial endeavor in India, but traders must choose brokers that are licensed by the Indian regulatory bodies. It is best practice for potential traders to review the broker's regulatory status and feedback from previous users on the services they provide before they sign up with them. RoboForex is a legitimate broker that accepts Indian clients even though it is not governed by the Securities and Exchange Board of India (SEBI), the nation's financial regulatory authority.
In this article, TU experts will present traders with Roboforex reviews in India and comprehensive information concerning the legitimacy of RobForex. Continue reading to discover these and more.
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Is RoboForex legal in India?
RoboForex is a legal broker in India, even though they are authorized and registered with the FSC in Belize City. The company is based in Belize City, with a business address at 9724 Ramiro Duran Street, Belize City, and a registered address at 2118 Guava Street, Belama Phase 1, Belize City, Belize. They provide both retail and corporate clients with services for trading.
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Is RoboForex good for beginners in India?
Yes. RoboForex services are designed to fulfill the trading desires of beginners and expert traders. The abundance of trading tools and platforms benefits traders of all skill levels.
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How much money do you need to start trading with Roboforex?
With $10, you can start trading with the RoboForex platform.
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What can you find out in reviews of Roboforex?
Traders can be able to tell if a broker is legitimate, pays profits, and if the tools it provides serve the purposes it claims to serve. In addition to learning if the bonus offers are real, you can also learn about the brokers' partnership programs and the duration of time it takes them to process withdrawal requests.
Evaluation of the most influential parameters of RoboForex
Roboforex reviews from Indian traders
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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 India? Is it Legit?
RoboForex is an offshore broker, meaning it is not founded and regulated in India, but this does not affect its legitimacy. This broker, which conducts business as an authorized investment platform with license No. 000138/437 and registration number 000001272, is under the jurisdiction of the FSC in Belize. FSC Belize is an international financial commission and regulator; they set strict requirements for all its members, and only those companies that meet the regulator's standards and comply with all its requirements are licensed by the organization.
Typically, investors should only deal with brokerages holding licenses issued in India. This ensures the trader's assets are safe since the broker abides by local regulations and is subject to oversight by the authorities. However, traders from India have the option to select a brokerage that is governed by reputable organizations in the nation where the broker originated, just like RoboForex, which is not licensed in India but accepts Indian clients. Before funding a real account, Indian traders must verify their trading accounts. This is part of the regulatory requirements brokers must follow to offer services in India.
The regulation and license RoboForex is operating with are considered fair by the Indian financial agency, which is why RoboForex services are not banned. RoboForex regularly audits, monitors, and certifies its members while providing effective, trustworthy, and transparent services. The broker is a Commission's Compensation Fund category "A" member. Traders with RoboForex accounts are eligible for protection up to €20,000 per case as "A" category members if the broker disregards Financial Commission rulings.
So overall, financial market experts view RoboForex as a legitimate and reliable partner, and the company has won multiple prestigious awards for its exceptional services.
How to trade with Roboforex in India?
Visit the official RoboForex website, go to the open account section, and enter your information to gain access to the membership area to trade with RoboForex in India. Choose from a variety of trading accounts, including demo, cent, standard, prime, R StocksTrader, and ECN accounts, the one that best fits your trading preferences and style.
Furthermore, to trade with a real account, deposit a minimum of 10 euros using one of RoboForex's accepted deposit methods, such as credit/debit cards, bank transfers, or electronic payment systems. ProCent, Pro, Prime, and ECN accounts require a minimum deposit of 10 EUR, whereas R StocksTrader accounts require a deposit of 100 EUR.
You may have to download and install platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) or use the web-based trading platform (WebTrader). Open the trading platform, log in with your account credentials, and start trading. There are 12,000 financial instruments in the broker's pool, which includes cryptocurrency, currency pairs, and CFDs on stocks, indices, metals, energy, and futures. RoboForex provides excellent trading conditions, quick order execution, and an easy-to-use Members Area for account management.
The CopyFX platform allows users to engage in copy trading, which functions similarly to ZuluTrade. This eliminates a lot of the tedious work involved in investing by enabling you to mimic the trading and investing positions of profitable traders and investors. In addition, RoboForex provides its clients with a blog, free VPS access, a margin calculator to preview positions and liabilities, and the company's EA creator and analytics tools, StrategyQuant and EA Wizard.
How to Open a Trading Account on RoboForex?
Opening a demo or real account is necessary for traders to begin trading on the RoboForex platform. The minimum deposit to trade on a real account is $10. Novice traders should open a demo account before opening a real one. The free demo account allows traders to trade a variety of instruments just like they would with a real account, which explains why. Again, it is the best account for traders who want to learn how to buy and sell on RoboForex.
If you can trade comfortably on a demo account, you can do the same on a real account. Let's look at how to open an account (demo or real) on RoboForex, then illustrate how to trade Forex on RoboForex.
1 Step 1: Visit the official page of the RoboForex investment platform
RoboForex official website
2 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.
3 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.
RoboForex official website
4 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
5 Step 5: Launch your trading platform and enter the demo login details sent to your email
RoboForex trading platform
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).