Reviews about Roboforex from Clients in Morocco
Forex trading is popular among residents of Morocco. Forex and stock trading activities are completely legal and well-regulated by the Moroccan Authority of Capital Markets (AMMC). The Moroccan financial regulators advise potential traders to open accounts and trade with brokerages that are duly regulated by reputable financial institutions. While traders can trade with foreign brokers regulated outside Morocco, it is important to research the trading platform, read reviews, and also learn about the platform's trading terms and conditions.
However, RoboForex is one of Morocco's most well-regulated brokers for both new and experienced traders. Below is a comprehensive review of RoboForex investment services in Morocco.
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Is RoboForex good for trading?
Yes. RoboForex is a top online trading platform for beginner and professional traders for many reasons. First, they are regulated, providing a level of security and accountability. RoboForex offers popular trading platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which are widely used and feature-rich. They also provide various account types to cater to different trading styles, including standard, ECN, and Islamic accounts to trade instruments like forex, stocks, commodities, indices, and cryptocurrencies. RoboForex offers leverage options, low minimum deposit and trading fees, and responsive customer support services.
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Does RoboForex have a license?
RoboForex is a reputable broker that is 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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Who is the owner of RoboForex?
The RoboForex Group owns RoboForex. Located at 2118 Guava Street, Belama Phase 1, Belize City, Belize, RoboForex is an online trading broker founded in 2009, and their business address is at 9724 Ramiro Duran Street, Belize City, Belize.
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Is RoboForex a good broker for beginners?
Indeed. Given the features it offers, this broker is appropriate for traders with no prior trading experience. This broker's integration of a demo account, low minimum deposit, excellent educational tools and resources, copy trading services, and cheap transaction fees are just a few of the features that make it user-friendly for beginners.
Roboforex reviews from traders in Morocco
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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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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 Morocco?
The RoboForex financial services company is governed exclusively by Belizean law. The response is categorically negative because RoboForex is not governed by any regulations in Morocco. RoboForex is a brokerage company that operates under the Financial Services Commission's (FSC) regulatory framework. It is registered under the number 000001272 and license number 000138/437. Although not authorized by Morocco regulations, this organization, located at 2118 Guava Street, Belama Phase 1, Belize City, Belize, still offers excellent standards of care to traders within its service area. The establishment's commitment to financial probity remains steadfast, aligning with the stipulations of the FSC to ensure the delivery of sound investment services.
Given the rampant proliferation of deceitful brokerage operations, financial watchdogs in Morocco offer prudent counsel, advising traders to steer clear of unregulated offshore entities. RoboForex, however, distinguishes itself as a secure platform, owing to its robust security protocols and unwavering compliance with FSC directives. Recognized as a category "A" member of the Financial Commission's Compensation Fund, RoboForex pledges compensatory measures of up to €20,000 per instance in the event of contraventions of Financial Commission edicts.
As a testament to its unwavering commitment to stringent regulatory mandates laid out by the Financial Commission, RoboForex Ltd. stands validated with the prestigious execution quality certificate known as Verify My Trade (VMT). Interestingly, the company also offers a full civil liability insurance policy with a €2,500,000 maximum limit to protect customers against possible financial losses due to mistakes, fraud, mishaps, carelessness, and other unforeseen circumstances.
RoboForex prudently integrates segregated accounts to fortify the safeguarding of user investments, consolidating all security configurations into a unified framework. Implementation of features such as two-factor authentication and mobile number verification enhances the resilience of the Members Area against potential breaches. Furthermore, stringent verification protocols, encompassing identity (passport verification) and address (address verification) authentication precede any deposit or withdrawal transactions to mitigate risks. The provision of safeguards against negative balances serves as an additional protective measure against market-induced losses.
Embodying a steadfast ethos of integrity and reliability, RoboForex effectively mitigates the specter of fraudulent activities, upholding the highest standards of service through regular audits, operational oversight, and membership accreditation. Complemented by an expansive repository of educational resources, RoboForex empowers users with comprehensive insights into their entitlements, obligations, and the intricacies of investment principles.
Does RoboForex have swap-free accounts?
Yes. RoboForex offers a swap-free account option specifically designed for Islamic traders. A swap in trading is the interest that is paid or received for keeping a position open overnight. It is determined by taking advantage of differences in currency interest rates. Traders can completely avoid swap fees by using RoboForex's swap-free account. They pay a fixed commission that is solely dependent on the type of instrument and number of open lots, as opposed to interest rates.
This kind of account allows customers who practice Islam and are prohibited by Sharia law from trading swaps. Once you convert to a swap-free account, there are no further trading restrictions; overnight commissions are based only on the type of instrument and volume of open positions. RoboForex sets itself apart from the competition by providing swap-free accounts with leverage up to 1:2000, which is uncommon in the market.
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.