Reviews about Roboforex from Clients in Thailand
Learning the type of account, minimum deposit, transaction fees, regulatory status, and passive income opportunities is a must for potential traders in Thailand. It is also important to read reviews about the broker by previous traders or trading experts you wish to invest with, as it helps you know if the broker is genuine. Among the popular brokers that traders can legally trade with within Thailand is RoboForex, and this article is about RoboForex reviews in Thailand.
You will discover the regulations governing Roboforex in Thailand as well as reviews about Roboforex from past traders who have invested and traded on the platform.
-
Does RoboForex have Islamic accounts?
Yes. RoboForex provides Islamic accounts, also known as swap-free accounts, designed to comply with Islamic finance principles by eliminating overnight interest (swap) on positions. These accounts cater to traders who follow Sharia law, which prohibits earning or paying interest. 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.
-
What are the options for passive income on RoboForex?
Trading in forex and stocks (more than 3,000 US stocks and 8,000 stock CFDs) is the most popular option for passive income. While there are risks associated with Forex trading, it is a popular way to make money on the RoboForex trading platform. Traders can also make money trading currency pairs and stocks using RoboForex CopyFx, which allows them to copy the strategies of top experts to trade. Other passive income options on RoboForex include creating a trading account on the bot builder and joining the RoboForex affiliate marketing program.
-
Does RoboForex accept clients from Thailand?
Yes. RoboForex still accepts clients at this location, even though it does not have a license from Thai authorities. The RoboForex trading platform is regulated by the FSC in Thailand.
-
Is RoboForex a good broker for beginners?
Yes. Because RoboForex has features that make trading more straightforward and profitable for new traders, it is an easy-to-use platform for beginners. These consist of a demo account, an easy-to-use interface, copy trading, instructional resources, and prompt customer support.
Roboforex reviews from traders in Thailand
-
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.
-
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
-
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.
-
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
-
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 Thailand?
Though its services are accessible to other countries, such as Thailand, RoboForex is subject to laws and regulations in Belize, where it is regulated. RoboForex is a financial brokerage company that complies with Financial Services Commission (FSC) regulations, as shown by its license (No. 000138/437, reg. number 000001272). This brokerage is at 2118 Guava Street, Belama Phase 1, Belize City, Belize. RoboForex is dedicated to adhering to the financial standards set forth by the FSC to guarantee that traders in Thailand can receive investment services.
In light of the prevalent presence of fraudulent brokers, Thailand's financial authorities caution against engaging with unregulated offshore brokerage firms. RoboForex is a secure platform for beginner traders, offering maximum security and strict compliance with FSC regulations. The Financial Commission's Compensation Fund designates RoboForex as a category "A" member, assuring traders compensation of up to €20,000 per instance in case of breaches of Financial Commission rulings.
RoboForex Ltd. possesses the Verify My Trade (VMT) certificate as additional evidence of its dedication to strict policies. Furthermore, RoboForex has put in place a civil liability insurance program with a coverage limit of 2,500,000 EUR, offering defense mechanisms against fraud and other risks that could cause financial losses for customers.
RoboForex incorporates a segregated account system to enhance the security of user investments. Mobile number verification and two-factor authentication are two of the most important security features that this broker incorporates to protect client accounts. Customers can use the two-step authentication feature to secure their Members Area if their email address is compromised.
Traders must complete a verification process involving identity (passport verification) and address (address verification) confirmation for depositing or withdrawing funds. Protection against negative balances is offered to shield clients from potential losses arising from market volatility. The broker ensures effectiveness, reliability, and transparency through regular audits, operational oversight, and member certification. Users benefit from a comprehensive educational resource library, equipping them with clear guidelines on their rights, responsibilities, and investment education.
Is trading on RoboForex halal?
Yes. Forex trading on RoboForex is considered halal as the platform integrates Islamic accounts, also known as swap-free accounts. This account is designed to comply with Islamic finance principles by eliminating overnight interest (swap) on positions. These accounts cater to traders who follow Sharia law, which prohibits earning or paying interest.
Islamic law defines halal as acceptable or legal in Islam, while "haram," or forbidden, refers to something that is against the teachings of the Holy Qur'an. The Holy Qur'an forbids several practices, including gambling and riba, or interest or usury. Numerous academics have contended that Forex trading is prohibited by Islamic law since the latter two activities are related to it.
Moreover, there is general agreement among Muslim scholars that spot currency exchanges are acceptable. This is so that the usury element of Forex trading is significantly reduced through spot settlement. Hence, Muslim theologians have concluded that Forex trading is permissible on this basis, and brokers like RoboForex have also included accounts that follow Islamic finance principles.
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.