Reviews About Roboforex From Clients From The UK
Is RoboForex legal in the U.K.?
Yes. RoboForex is a legal broker that accepts clients from the UK. This broker complies with the terms set by the EU and UK financial regulators.
Ensuring a broker is legit and learning if the service is genuine is a top way potential investors find a top broker like RoboForex in the UK. RoboForex is among the leading offshore investment apps in the UK. Since its founding in 2009, this Belize-based broker has stood the test of time by providing professional and novice traders in the UK with top-notch user-friending services. These can be found in various reviews about RoboForex on the broker's official website and other third-party review forums. Feedback about Roboforex by one of the users in the UK says that RoboForex is among one of the most complete brokers in terms of account types and instruments.
But that is not all you need to know about this broker. TU experts have more information to share with you on Roboforex reviews in the UK. Read on to find out.
-
Does Roboforex work with UK clients?
Yes, RoboForex works with UK clients since they adhere to EU terms, which include a 30:1 maximum leverage offering, no bonus offers, professional customer support service, etc.
-
How much money do you need to start trading with RoboForex?
With $10 equivalence in the UK currency and above, you can start trading on RoboForex.
-
Is RoboForex good for beginners?
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.
-
Is RoboForex a scam or not?
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.
Evaluation of the most influential parameters of RoboForex
Roboforex reviews from UK traders
-
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 the UK? Is it Legit?
RoboForex is an offshore 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.
As a rule of thumb, all brokers offering services in the UK must adhere to the following:
-
Anti-money laundering rules
-
Integration of a segregated account
-
Sufficient customer support service
-
Provide clear risk disclosures to clients
-
Offer negative balance protection to clients
-
Have specific margin requirements and provide clear and transparent information on their service fees and trading conditions.
-
The broker must not offer retail traders leverage exceeding 30:1
Since RoboForex complies with these terms of service, their services are not prohibited. 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.
RoboForex has received numerous prestigious awards for its outstanding services, and financial market experts generally regard the company as a trustworthy and legitimate partner.
How to trade with RoboForex?
To start trading on the RoboForex platform, a trader must open a demo or a real account. The minimum deposit to trade on a real account is $10. For beginner traders, it is best practice to open a demo account before opening a real one. This is because the demo account is free, and traders can trade different instruments as they would with a real account. Again, it is the best account for traders who want to learn how to buy and sell on RoboForex. L Let's look at how to open an account (demo or real) on RoboForex.
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.
RoboForex official website
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
RoboForex official website
Pros and cons of RoboForex
Below are the pros and cons of RoboForex, a top beginner-friendly stock and Forex trading platform in the UK
👍 Pros
• RoboForex is a legitimate broker of CFDs and Forex, authorized and overseen by reliable financial authorities like the FSC in Belize.
• The broker provides tutorials, webinars, and market analysis as educational tools that are beneficial to both experienced and inexperienced traders.
• Reviews about RoboForex assert that RoboForex's customer support, with various contact options, is responsive. Roboforex provides customer service around the clock.
• RoboForex provides ProCent and Pro, two commission-free accounts.
• Ideal for experimenting with new tactics and EAs.
• Very high fund security and extremely low trading fees.
• It provides novices with resources to aid in their trading, such as a demo account and the special investment program CopyFx.
• Instant withdrawal of funds.
👎 Cons
• RoboForex allows trading in cryptocurrencies, its selection of available coins might be more constrained than that of certain niche cryptocurrency exchanges.
• Certain account types have variable spreads, which means that during times of market volatility, they may get wider. This may affect trading expenses, particularly for traders who trade briefly.
• For accounts that have been idle for a predetermined amount of time, RoboForex levies inactivity fees.
• Absence of cryptocurrency trading tools on the R StocksTrader 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).