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+64 9 889 4065
I applied $300. And this broker manipulated their candlestick. It's time to regulate it
I deposited on RoboForex but was unable to withdraw because the application was under review.
Someone cheated people on the internet and I invested over 200,000 in total. Now I can’t withdraw funds. They are stalling with various reasons. Now the customer service is out of contact
I COME TO DENOUNCE THE BROKER ROBOFOREX ACCOUNT 22231436 WHICH ON JANUARY 18, 2021 AT 01:35 HRS FROM THE ROBOFOREX SERVER IN FULL HOURS ASIAN MARKET, AUSTRALIAN STOCK EXCHANGE OPEN WITHOUT HOLIDAY, THE BROKER STOPULA MELLIS SELLING APPLICATION OF APPLICATION MANIPULA MELLIS PRICES AT VALUES VERY DIFFERENT FROM THE PRICES WE ORDER FOR ME.
I knew a boy who said he liked chatting with me and guided me to invest with RoboForex via the dating website on May 7. And he tricked me into upgrading my level. At first, I just deposited a small amount of money. But I should upgrade teh VIP level, so I deposited step by step. In the end, I have to pay individual income tax to withdraw my money. I dpeosited over 110,000 in total. The individual income tax I paied is over 8,700. The platform can be accessed now and the customer service is normal. But I Just can't receive my money!
Note: RoboForex is to operate via the website - https://www.roboforex-china.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
|Registered Country/Area||New Zealand|
|Founded Year||2-5 years|
|Regulation||Suspicious Regulatory License|
|Minimum Deposit||$10 USD (ProCent and ECN accounts), $100 USD (R StocksTrader account), $10 USD (Prime Account), Demo account is free|
|Maximum Leverage||Up to 1:2000 (Currencies), up to 1:1000 (Metals), up to 1:50 (Cryptocurrencies), up to 1:20 (Stocks, ETFs, Soft Commodities), up to 1:100 (Indices, CFDs on Futures), up to 1:20 (Energies)|
|Spreads||Varies based on account type and instrument|
|Trading Platforms||MetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, WebTrader|
|Tradable Assets||Stocks (12,000+), Indices (10+), CFDs on Futures (3), ETFs (50+), Soft Commodities (100+), Energies, Precious Metals (Gold, Platinum, Palladium, Silver), Currency Pairs (40+), Cryptocurrencies (30+)|
|Account Types||Demo Account, Prime Account, ECN Account, R StocksTrader Account, ProCent Account|
|Demo Account||Available for testing trading conditions|
|Islamic Account||Not mentioned|
|Customer Support||Contact via phone and email|
|Deposit Methods||Bank payments, Electronic payments, Bank cards, QR & Vouchers|
|Withdrawal Methods||Bank payments, Electronic payments, Bank cards, QR & Vouchers|
The Cyprus CYSEC regulation (license number: 191/13) and the United Kingdom FCA regulation (license number: 608962) claimed by RoboForex are suspected to be cloned. Please be aware of the risk!
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
RoboForex is an alleged forex broker that claims to be registered in New Zealand. However, there are several suspicious aspects and potential risks associated with this broker.
One of the major concerns is the suspicious clone licenses claimed by RoboForex. It is suspected that the Cyprus Securities and Exchange Commission (CYSEC) license number 191/13 and the United Kingdom Financial Conduct Authority (FCA) license number 608962 claimed by RoboForex are clones. This raises doubts about the legitimacy and regulatory compliance of the broker.
The overall score of RoboForex on WikiFX is 1.37/10, indicating a high potential risk. The broker has received numerous complaints, leading to a reduction in its WikiFX score. The WikiFX verification highlights the lack of valid regulation for this broker, further emphasizing the potential risks involved in trading with RoboForex.
Unfortunately, detailed information about RoboForex's trading assets, leverage, spreads, trading platforms, and minimum deposit cannot be obtained as the broker's website is inaccessible. This lack of transparency is another red flag and raises concerns about the legitimacy and reliability of the broker.
RoboForex customer support can be reached through various contact methods, including phone and email. The company address is listed as Level 3, 13 O'Connell St, Auckland, New Zealand.
In conclusion, RoboForex is a forex broker that has raised suspicion due to its suspicious clone licenses, inaccessible website, and lack of transparency. The potential risks associated with this broker make it advisable for traders to exercise caution and consider alternative, more reputable brokers for their trading needs.
|Tight spreads||Suspicious clone regulatory licenses|
|Wide range of trading instruments||Website accessibility issues|
|Multiple account types||Lack of information|
|Copy-trading system||Risk of potential scams|
|Mobile trading apps||Low score and warning|
Based on the information provided, RoboFerex (RoboForex) appears to be a suspicious and potentially illegitimate broker. Here are the reasons for this conclusion:
1. Low Score and Suspicious Clone: RoboFerex has a score of 1.37 out of 10, indicating a high potential risk. It is also referred to as a suspicious clone of RoboForex.
2. Suspicious Regulatory License: The broker claims to be regulated by the Cyprus Securities and Exchange Commission (CYSEC) and the Financial Conduct Authority (FCA), but these licenses are suspected to be cloned or illegitimate.
3. Suspicious Scope of Business: The scope of business and the specific details of the broker, such as trading assets, leverage, spreads, trading platforms, and minimum deposit, cannot be obtained as the website is inaccessible.
4. Numerous Complaints: There are multiple complaints about RoboForex, which is the parent company of RoboFerex. Complaints include issues with withdrawal, manipulation of candlestick charts, and involvement in a romance scam.
5. Incomplete Information: The website of RoboFerex, https://www.roboforex-china.com, is not functional, and there is limited information available about the company.
6. No Valid Regulation: It has been verified that RoboFerex currently has no valid regulation, adding to the risk associated with this broker.
Based on these factors, it is advisable to stay away from RoboFerex (RoboForex) due to its suspicious nature and potential risks involved.
RoboForex offers a wide range of market instruments and assets across nine different asset classes. Here's a description of each asset class and its associated trading benefits:
1. Stocks: RoboForex provides access to more than 12,000 stocks through the R StocksTrader platform and over 50 stocks via MetaTrader 4/5 terminals. Trading benefits include a minimum deposit of 100 USD, free stock exchange market data online, leverage of up to 1:20, and support for MetaTrader 4, MetaTrader 5, and R StocksTrader platforms.
2. Indices: Trading indices through RoboForex offers tight spreads with no mark-up, leverage of up to 1:100, and over 10 instruments to choose from. The trading benefits also include compatibility with MetaTrader 4, MetaTrader 5, and R StocksTrader platforms.
3. CFDs on Futures: RoboForex enables trading CFDs on futures with leverage of up to 1:100. The platform supports MetaTrader 4, MetaTrader 5, and R StocksTrader platforms, providing quick charts to track positions. There are three trading instruments available.
4. ETFs: Exchange-Traded Funds (ETFs) can be traded through the R StocksTrader platform, with a minimum deposit requirement of 100 USD. Leverage of up to 1:20 is available, and the system supports and handles corporate events automatically.
5. Soft Commodities: RoboForex offers trading on over 100 soft commodities instruments through the R StocksTrader platform. The minimum deposit required is 100 USD, leverage of up to 1:20 is available, and it provides an opportunity to trade a wide range of soft commodities.
6. Energies: Trading energies through RoboForex comes with tight spreads, compatibility with MetaTrader 4 and R StocksTrader platforms, and a minimum deposit requirement of 10 USD. It is considered an ideal instrument for day traders.
7. Metals: Trade CFDs and commodity ETFs on precious metals such as gold, platinum, palladium, silver, as well as Gold/Dollar and Silver/Dollar pairs. Metals trading acts as a hedge against political instability and dollar weakness. The minimum deposit required is 10 USD, leverage of up to 1:1000 is available, and it supports MetaTrader 4, MetaTrader 5, cTrader, and R StocksTrader platforms.
8. Currencies: RoboForex provides transparent and reliable access to trading more than 40 currency pairs. Trading benefits include institutional spreads from 0 points, leverage of up to 1:2000, and compatibility with MetaTrader 4, MetaTrader 5, cTrader, and R StocksTrader platforms.
9. Cryptocurrencies: RoboForex offers trading in over 30 crypto instruments, including Bitcoin, Litecoin, and Ethereum. Trading benefits include leverage of up to 1:50, availability on MetaTrader 4, MetaTrader 5, and R StocksTrader platforms, and 24/7 trading.
It's worth noting that the information provided is based on the available data up until September 2021, and there may have been changes or updates to the offerings since then. For the most accurate and up-to-date information, it's advisable to visit the official RoboForex website or contact their customer support.
|Access to a diverse range of investment options||Potential for market volatility and risk|
|Availability of different trading platforms||Market fluctuations can lead to potential losses|
|Leverage options for increased trading power||High leverage can amplify both profits and losses|
|Opportunity for speculation and investment in various markets||Market knowledge and analysis skills required|
|24/7 trading availability for cryptocurrencies||Regulatory changes or restrictions in certain jurisdictions|
|Hedge against political instability and dollar weakness||Possibility of liquidity constraints during extreme market conditions|
|Wide selection of currency pairs for forex trading||Currency exchange rate fluctuations can impact profitability|
|Ability to trade precious metals for portfolio diversification||Price volatility in commodities can lead to investment risk|
RoboForex offers a range of account types to cater to the needs of different types of traders. Here is an overview of each of the account types:
1. Demo Account: RoboForex offers a demo account for traders who want to test their trading strategies and the platform without risking real money. The demo account allows traders to test the trading conditions, instruments, spreads, swaps, and execution speed of RoboForex.
2. Prime Account: The Prime account is designed for traders who require premium trading conditions. The account requires a minimum deposit of 10 USD and offers market execution, floating spreads from 0 pips, and more than 100 tradable instruments. The account can be accessed through the MT4, MT5, and WebTrader platforms.
3. ECN Account: The ECN account is designed for experienced traders who require fast order execution and competitive trading conditions. The account requires a minimum deposit of 10 USD and offers market execution, floating spreads from 0 pips, and more than 100 tradable instruments. The account can be accessed through the MT4, MT5, cTrader, and WebTrader platforms.
4. R StocksTrader Account: The R StocksTrader account is designed specifically for trading through the R StocksTrader web platform and mobile app. The account requires a minimum deposit of 100 USD and offers market execution, floating spreads from 0 pips, and more than 12,000 tradable instruments.
5. ProCent Account: The ProCent account is designed for beginners who want to start trading with small amounts of money. The account requires a minimum deposit of 10 USD and offers market execution, floating spreads from 1.3 pips, and more than 50 tradable instruments. The account can be accessed through the MT4, MT5, and WebTrader platforms.
Overall, RoboForex offers a diverse range of account types with different trading conditions and platforms to suit the needs of different traders.
|Variety of Choices||Limited number of bonus offers|
|Demo Account||Account restrictions|
|Competitive Spreads||Spreads variation|
|Diverse Instruments||Execution speed variation|
|Low Minimum Deposit|
To open an account with RoboForex via email, you will need to follow these steps:
1. Go to the RoboForex website (www.roboforex.com) and click on the “Register” or “Open Account” button.
2. On the registration page, you will be asked to provide your basic personal information. Fill in the required fields, including your first name, last name, and mobile phone number.
3. If you have a partner's code, you can enter it in the optional field provided. This code is typically used if you were referred by someone or if you have a partnership arrangement with RoboForex.
4. Confirm that you are at least 18 years old by checking the appropriate box. This confirms that you meet the age requirement to open an account.
5. Read the terms and conditions and other relevant documents provided by RoboForex. To proceed with the registration, you will need to agree to these documents. Make sure you understand the terms before proceeding.
6. If you wish to receive emails with offers and company news from RoboForex, check the box indicating your consent. Remember, you can cancel this subscription at any time in the future if you no longer wish to receive such emails.
7. Once you have filled in all the required information and agreed to the documents, click on the “Register” or “Submit” button to complete the registration process.
8. After submitting your registration, you will receive a confirmation email from RoboForex. Follow the instructions in the email to verify your email address and activate your account.
9. Once your account is activated, you can log in to the RoboForex Members Area using the login credentials provided during the registration process.
10. In the Members Area, you may be prompted to provide additional information and complete any necessary verification processes to fully activate your account and start trading.
It's important to note that the account opening process may vary slightly depending on the specific requirements of RoboForex at the time of registration. It's always a good idea to refer to the RoboForex website or contact their customer support for the most up-to-date and accurate information regarding the account opening procedure.
RoboForex provides traders with a range of versatile trading platforms designed to meet their specific requirements. The platforms offered include MetaTrader 4 (MT4), MetaTrader 5 (MT5), R MobileTrader for iOS and Android devices, R WebTrader, R Trader, and cTrader.
MetaTrader 4 (MT4) is a widely recognized and highly regarded trading platform known for its user-friendly interface and advanced charting capabilities. It offers a comprehensive set of trading tools, indicators, and automated trading features, making it suitable for both novice and experienced traders.
MetaTrader 5 (MT5) is the successor to MT4 and offers an enhanced trading experience with additional features and improved performance. It provides access to a broader range of financial instruments, including stocks and futures, in addition to the traditional Forex market.
R MobileTrader is a fully-featured mobile trading application available for iOS and Android devices. It allows traders to access their accounts on the go, monitor market conditions, execute trades, and manage positions, providing flexibility and convenience.
R WebTrader is a web-based trading platform that offers seamless access to the global financial markets directly through a web browser. It eliminates the need for software installation and allows traders to trade from any computer with internet access.
R Trader is a new generation web trading platform and mobile app that provides access to an extensive range of over 12,000 instruments, including stocks, ETFs, and cryptocurrencies. It offers advanced charting capabilities, customizable workspaces, and a user-friendly interface.
cTrader is a professional trading platform that offers direct Straight Through Processing (STP) access to the global currency market. It is known for its advanced trading features, extensive range of technical analysis tools, and fast execution speeds.
With a diverse selection of trading platforms, RoboForex aims to cater to the trading preferences and needs of traders, whether they are beginners or seasoned professionals.
|User-friendly interface||Limited customization options|
|Advanced charting and analysis tools||Steeper learning curve for advanced features|
|Automated trading capabilities||Limited availability of certain platforms|
|Accessible via desktop, web, and mobile||Possible technical issues or downtime|
|Wide range of financial instruments||Potential compatibility issues|
|Seamless trade execution||Limited platform-specific features|
|Multiple platform options to suit trader's|
|preferences and needs|
Deposit Without Commission:
RoboForex does not charge any commission for depositing funds into trading accounts.
The payment system may impose a commission, but RoboForex fully compensates this commission and transfers the entire deposited amount to the trading account.
The compensation is transferred immediately, and there are no restrictions on using or withdrawing the compensated amount.
Traders can choose the payment system based on convenience rather than cost effectiveness.
Withdrawal Without Commission:
Traders have the opportunity to withdraw funds from their RoboForex accounts without paying any commissions twice a month.
The service is available on the first and third Tuesday of each calendar month.
Only the first withdrawal on those days is eligible for commission-free withdrawal.
The offer is valid for one withdrawal only and can be made via any payment system.
RoboForex reserves the right to deny this service to clients at its discretion without providing a reason.
Please note that the specific terms and conditions may vary, and it's recommended to refer to the broker's website or contact customer support for the most up-to-date information on deposit and withdrawal policies.
RoboForex offers competitive spreads across its range of trading instruments. Spreads refer to the difference between the bid price (selling price) and the ask price (buying price) of a financial instrument. Here is an overview of the overall spreads you can expect from RoboForex:
1. Forex Spreads: The spreads for currency pairs in the Forex market can vary depending on the specific currency pair and market conditions. RoboForex provides floating spreads starting from 0 points for certain account types, indicating very tight spreads. However, it's important to note that spreads may widen during periods of high market volatility.
2. Indices Spreads: When trading indices, such as the S&P 500 or FTSE 100, RoboForex offers tight spreads with no mark-up. The exact spreads will depend on the specific index and market conditions.
3. Commodity Spreads: Spreads for trading soft commodities, such as coffee or cocoa, can vary based on market conditions. RoboForex provides floating spreads starting from 1.3 points for certain account types.
4. Cryptocurrency Spreads: RoboForex offers trading on a range of cryptocurrencies, including Bitcoin, Litecoin, and Ethereum. The spreads for cryptocurrencies also vary based on market conditions, with floating spreads typically starting from a few points.
5. Stock Spreads: Spreads for trading stocks will depend on the specific stock being traded. RoboForex offers access to a vast number of stocks, and the spreads can vary depending on market liquidity and other factors.
It's important to note that spreads can differ between different account types and trading platforms offered by RoboForex. Additionally, spreads are not fixed and can widen during periods of high market volatility or important news announcements. Traders should always refer to the official RoboForex website or contact their customer support for the most up-to-date information on spreads for specific instruments and account types.
|Competitive Spreads||Spreads may widen during high volatility periods|
|Tight Spreads on Major Instruments||Spreads can vary between different account types|
|Variable Spreads||Some account types may have higher spreads|
|Floating Spreads||Spreads may differ between trading platforms|
|Potential for Cost Savings|
RoboForex offers various payment methods for depositing and withdrawing funds. The company provides the option of depositing and withdrawing without commissions during the “Free Funds Withdrawal” promotion days. This promotion is available to all RoboForex Ltd clients based on the conditions of the “Deposit without commission” and “Withdraw without commission” programs.
Here is an overview of the different payment methods and their associated fees, processing times, and limitations:
Bank Transfer (SEPA): Deposit fee of 0%, withdrawal fee of 1.5%, processing time of up to 3 days, and deposit limitations ranging from 500 to 100,000 EUR. Withdrawal limitations range from 500 to 49,990 EUR.
Local Bank Transfer: Deposit fee of 0%, withdrawal fee of up to 4%, processing time of up to 1 day, and deposit limitations up to 15,000 USD (or equivalent in other currencies). Withdrawal limitations are up to 20,000 USD (or equivalent in other currencies).
AstroPay: Deposit fee of 0%, withdrawal fee of 0.5%, processing time of up to 1 day, and deposit and withdrawal limitations ranging from 10 to 10,000 USD.
Skrill: Deposit fee of 0%, withdrawal fee of 1%, processing time of up to 1 day, and deposit limitations ranging from 10 to 25,000 USD. Withdrawal limitations range from 1 to 100,000 USD.
Neteller: Deposit fee of 0%, withdrawal fee of 1.9%, processing time of up to 1 day, and deposit limitations of up to 50,000 USD. Withdrawal limitations range from 5 to 100,000 USD.
Perfect Money: Deposit fee of 0.5%, withdrawal fee of 0.5%, processing time of up to 1 day, and deposit limitations ranging from 5 to 25,000 USD. Withdrawal limitations start from 0.1 USD.
AdvCash: Deposit fee of 0%, withdrawal fee of 1%, processing time of up to 1 day, and deposit limitations ranging from 10 to 49,999 USD. Withdrawal limitations range from 0.1 to 49,999 USD.
VISA/MasterCard/JCB/CUP: Deposit fee of 0%, withdrawal fee of up to 2.6% + 1.3 USD, processing time of up to 1 day for deposits and up to 10 days for withdrawals, and deposit limitations starting from 10 USD. Withdrawal limitations range from 10 to 10,000 USD.
QR & Vouchers:
QR & Vouchers: Deposit fee of 0%, withdrawal fee of up to 1 day, and deposit and withdrawal limitations ranging from 10 to 500 USD.
Western Union: Deposit fee of 0%, withdrawal fee of up to 1 day, and deposit and withdrawal limitations ranging from 10 to 500 USD.
It's important to note that the fees, processing times, and limitations may vary based on the specific payment method and the client's account details. Clients are advised to refer to the official RoboForex website or contact their customer support for the most accurate and up-to-date information regarding payment methods.
RoboForexs customer support can be reached by telephone: +64 9 889 4065, email: firstname.lastname@example.org, support@RoboForex.com, clients@RoboForex.com, partners@mail.RoboForex.com. Company address: Level 3, 13 O'Connell St, Auckland, 1010, New Zealand.
RoboForex, a purported forex broker registered in New Zealand, presents a concerning profile with various red flags and potential risks. The broker's regulatory licenses, claimed to be from the Cyprus Securities and Exchange Commission (CYSEC) and the Financial Conduct Authority (FCA) in the United Kingdom, are suspicious and suspected to be cloned. The absence of a functional website further raises concerns about transparency and accessibility.
The lack of specific information regarding trading assets, leverage, spreads, and minimum deposits due to the inaccessible website hinders a comprehensive evaluation of RoboForex's services. Moreover, the broker has accumulated numerous complaints and negative feedback, including issues related to withdrawal difficulties and allegations of manipulative trading practices.
On the positive side, RoboForex advertises tight spreads, fast order execution, and a diverse range of asset classes. However, these potential advantages are overshadowed by the overall risk profile, regulatory concerns, and the unavailability of critical information.
In light of the above, it is advised to exercise extreme caution when considering RoboForex as a trading partner. The absence of valid regulation, numerous complaints, and the inaccessible website warrant serious concerns regarding the safety of client funds and the reliability of the broker's services. It is recommended to explore alternative options from reputable and transparent brokers to ensure a secure and trustworthy trading experience.
|Q 1:||Is RoboForex regulated？|
|A 1:||No. It has been verified that the Cyprus CYSEC regulation (license number: 191/13) and the United Kingdom FCA regulation (license number: 608962) claimed by RoboForex are suspected to be cloned.|
|Q 2:||Is RoboForex a good broker for beginners？|
|A 2:||No. RoboForex is not a good choice for beginners. Not only because of its suspicious clone regulation condition, but also because of its inaccessible website.|
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