Reviews about Roboforex from Clients in Indonesia
RoboForex is a renowned broker that provides exclusive financial services to investors globally. This trading platform is also available to clients in Indonesia, even though information on the footer of the RoboForex website lists Indonesia as one of the countries where its services are unavailable. However, TU experts recently interacted with RoboForex customer service to determine if their services are now available in Indonesia. Responses from customer support are positive, meaning Indonesian traders can invest in the RoboForex trading platform.
It is important to review the services of RoboForex before you register, as the broker's services could favor one investor more than another. So, reading Roboforex reviews in Indonesia is among the best practices for traders using this platform for the first time. This article entails Roboforex reviews in Indonesia; continue reading to discover more and what users trading on this platform have to say about this trading platform.
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Is trading with RoboForex halal?
Yes. Trading with RoboForex is halal. RoboForex integrates swap-free directly into your account, and they are developed specifically for Muslim clients who, according to Sharia law, are prohibited from trading with swaps. These accounts are meticulously crafted to comply with Sharia law, which prohibits transactions that bear interest (Riba). Since these accounts do not pay swap interest on overnight positions, they are a shining example of moral trading for Muslims. Commissions are applied to an account in a swap-free account in place of any interest that would be charged or earned on a trade.
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What are the fees on RoboForex?
Fees on the RoboForex platform include trading and non-trading fees. For trading fees, spreads start from 0.01 to 1.3 pips, and commission-free trading depends on the account traders select.
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Prime account - From 0 pips
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ECN - From 0 pips
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R StocksTrader - From 0.01 USD
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ProCent - From 1.3 pips
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Pro - From 1.3 pips
There is no deposit or withdrawal commission during the "Free Funds Withdrawal" promotion days, which are on the first and third Tuesdays of each month. Aside from these days, you might have to pay zero fees when you deposit and some fees when you withdraw, depending on the payment method used.
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Local bank transfers - up to 4%
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Electronic payment
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Skrill - 1%
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Neteller - 1.9%
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Perfect Money - 0.5%
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AstroPay - 0.5%
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STICPAY - 2.5% + 0.3 USD
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Bank cards (Visa/MasterCard/JCB/CUP) - up to 2.6 + 1.3 USD
For dormant accounts that have been inactive for an extended length of time, RoboForex does not impose a handling fee.
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Does RoboForex accept clients from Indonesia?
Yes. RoboForex still accepts clients at this location even though it does not have a license from Indonesian authorities. The RoboForex trading platform is regulated by the FSC in Belize.
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Is RoboForex a legit broker?
Yes. RoboForex is a legitimate offshore broker that traders in Indonesia can trade with. The broker is regulated in Belize and operates under license No. 000138/437 and registration number 000001272.
Roboforex reviews from traders in Indonesia
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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 Indonesia?
RoboForex is only regulated in Belize. So the answer to the question: "Is RoboForex regulated in Indonesia? - No. RoboForex is a financial brokerage company regulated by the FSC (license No. 000138/437, reg. number 000001272). The registered address of this broker is Belama Phase 1, Belize City, Belize, 2118 Guava Street. The brokers continue to provide traders in this jurisdiction with high-quality services despite not being regulated in Indonesia; they continue to adhere to the financial standards set forth by the FSC to provide investment services.
Because scam brokers are so common, Indonesian financial regulators advise traders against using unregulated offshore brokers. RoboForex is safe for traders because of the degree of security it offers its users and the degree to which it complies with FSC regulations. RoboForex is a category "A" member of the Financial Commission's Compensation Fund. Hence, they provide traders with compensation of up to €20,000 per case in the event of a violation of Financial Commission rulings.
As proof of its adherence to the stringent guidelines set forth by the Financial Commission, RoboForex Ltd. has been granted the execution quality certificate Verify My Trade (VMT). Again, with a cap of 2,500,000 EUR, RoboForex has put in place a civil liability insurance program that offers industry-leading protection against mistakes, fraud, omissions, carelessness, and other risks that could cause clients to suffer financial losses.
RoboForex incorporates a segregated account to guarantee the security of the user's investments. RoboForex centralizes all security configurations into a single module, allowing two-factor authentication and mobile number verification. If a customer's email address is compromised, they can still safeguard their Members Area by utilizing a two-step authentication feature. Additionally, traders must finish the verification process, which includes confirming their identity (passport verification) and real address (address verification), to deposit or withdraw money. To protect clients from possible losses resulting from market volatility, brokers offer protection against negative balances.
RoboForex upholds a strict code of integrity and dependability, greatly lowering the possibility of fraudulent activity. The broker maintains effective, dependable, and transparent services through routine audits, operational oversight, and member certification. With its extensive educational resource library, RoboForex provides users with clear instructions regarding their rights and responsibilities and investing in education.
Does RoboForex have an Islamic account?
Yes. RoboForex offers Islamic accounts, also referred to as swap-free accounts, which are made to adhere to the rules of Islamic finance by doing away with overnight interest (swap) on positions. These accounts cater to traders who follow Sharia law, which prohibits earning or paying interest.
Key features of RoboForex Islamic accounts
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RoboForex Islamic accounts adhere to the principles of avoiding usury, ensuring that no interest is charged or earned.
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RoboForex Islamic accounts do not have a time limit like conventional trading accounts, so traders can hold positions for a greater duration without incurring swap fees.
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Typically, RoboForex offers Islamic trading accounts for a variety of financial instruments, such as indexes, commodities, and Forex.
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One of the highest leverage ratios in the market is available from RoboForex on their swap-free accounts—up to 1:2000. But remember that using leverage rashly can increase your losses.
Traders typically need to contact the customer support team to make the necessary changes to an existing account or request the swap-free option when registering to open an Islamic account with RoboForex.
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).