A Guide to Trading with RoboForex: Account Types, Demo Accounts, and Withdrawals

RoboForex Overview

RoboForex, established in 2019 and headquartered in Seychelles, offers clients a diverse range of financial assets, with access to 12,000 instruments for trading. The platform is regulated by CYSEC, NBRB, FCA, and FSC, and provides negative balance protection for enhanced security. RoboForex also offers various account types, including demo accounts, with a low minimum deposit requirement of just $10, making it accessible for beginners. In the following sections, we will offer a detailed overview of RoboForex's account types, the process for opening a demo account, withdrawal procedures, and more.

RoboForex Account Types

RoboForex offers five real account types to suit different trading needs. The leverage varies from 1:300 to 1:2000.

The Prime and ECN accounts provide the best spreads starting from 0 pips, ideal for experienced traders, but dont offer bonuses. The R StocksTrader account gives access to over 12,000 instruments, but requires a higher minimum deposit of 100 USD. Meanwhile, the ProCent and Pro accounts are great for beginners, with low deposits and high leverage, though they come with wider spreads.

About how to open a real account, you can take a look at this video:

RoboMarkets Demo Accounts

RoboMarkets offers demo accounts with trading conditions similar to those of real accounts. Traders do not need to deposit any real funds to trade the same assets available on real accounts.

You can test any of RoboMarkets platforms, from the classic MetaTrader 4 terminal to the innovative R StocksTrader solution. Additionally, you can open multiple demo accounts to test various trading conditions.

Demo accounts provide an opportunity to test trading strategies without any risk. This makes them a powerful tool for evaluating the performance of trading strategies or Expert Advisors (EAs) under real market conditions.

While using a demo account, you can also participate in the “Cashback (Rebates)” program, earning additional income through virtual rebates. This allows you to assess the benefits of the program and estimate potential earnings once you switch to a real account.

Here is the table summarizing the demo accounts:

Editor's Comment

You can open three types of demo accounts, depending on your personal situation and investment preferences. The Demo Pro account is suited for beginners, offering high leverage (1:2000) and a floating spread starting from 1.3 points, ideal for smaller trades. The Demo ECN account caters to professional traders with lower leverage (1:500) and tighter spreads (starting from 0 points), suited for high-frequency trading.

Meanwhile, the Demo R StocksTrader account offers global market access through the R StocksTrader platform, ideal for users looking to trade a wide range of assets, especially stocks and ETFs.

How to Open a RoboForex Demo Account – Step by Step

To register for, and set up a demo account with RoboForex, traders can follow these steps:

1. Step 1: Start on the RoboForex Landing Page.

Navigate to the RoboMarkets website and hover over the ‘Trading’ tab and select ‘Demo Accounts’ from the dropdown menu.

2. Step 2: Click on the Open Demo Account Banner.

The trader will be redirected to a new page where the ‘Open Demo Account’ banner can be clicked.

3. Step 3: Registration

The trader will be redirected to an online application where the required fields about an email address, First and Last name, and mobile phone have to be completed. The applicant must confirm that they are at least 18 years of age.

4. Step 4: Select Account Type

The applicant will be met with the following screen and can now select +Add Account.

5. Step 5: Select Demo Account and Complete the Process.

The trader can select their preferred trading platform, demo account type, leverage, and virtual start deposit before clicking ‘Confirm’.

RoboForex Islamic Account

The RoboForex Islamic Swap-Free Forex trading account is available on the MetaTrader 4 platform. Swap-Free services are offered exclusively for cent and standard MetaTrader 4-based accounts, as well as Pro-Affiliate accounts.

When an applicant switches their account type to Swap-Free, all other trading conditions remain unchanged. The overnight commission will depend solely on the instrument and the volume of open positions.

To open a Swap-Free account, the applicant should follow the regular account creation process and then contact RoboForex Live Support to convert their account to the Islamic Account option.

Deposit & Withdrawals

RoboForex offers a variety of withdrawal methods, each with different processing times and limits.

Most withdrawal methods, such as Local Bank Transfer, AstroPay, Skrill, Neteller, Alipay, and Western Union, can be processed within 1 day, while VISA/MasterCard/JCB may take up to 10 days.

The withdrawal limits vary, with most methods allowing withdrawals from $10 to $100,000. Notably, methods like QR Codes and Coupons have lower withdrawal limits, usually ranging from $10 to $500.

With the exception of VISA/MasterCard/JCB, most methods charge a 0% fee, while VISA/MasterCard/JCB charges a fee of up to 2.6% + $1.3.

Payment Methods

How to withdraw money from RoboForex?

To withdraw funds from RoboForex, simply follow these steps:

1. Log into the Members Area

   Begin by logging into your RoboForex Members Area, which serves as the central hub for all account-related activities. This area is designed to enhance your overall user experience.

1. Select the Correct Account

   If you have multiple accounts, ensure the correct one is selected for withdrawal. This step is crucial, much like choosing the right wallet from a list of options.

1. Initiate Withdrawal

   Once you've confirmed the correct account, look for the “Withdraw Funds” button. Clicking this will take you to the withdrawal options page.

2. Choose a Withdrawal Method

   RoboForex offers several withdrawal methods, each catering to specific needs and regions. Select the one that best suits your requirements.

3. Complete the Request

   After selecting your withdrawal method, you may be asked to provide additional details to complete the process. This step ensures added security, directing the funds properly.

4. Wait for Processing

   All transactions go through a verification process for security purposes. RoboForex typically processes withdrawals between 9:00 AM and 6:00 PM (EET) and aims to complete the process within two business days.

Trading Platform

Spreads and Commissions

RoboForex claims to offer spreads starting from 0 pips, with the actual spread varying depending on the trading instrument. When traders deposit funds into their trading accounts, the commission is always 0%. RoboForex claims to cover all fees. Additionally, RoboForex compensates its clients' commission fees for withdrawals twice a month.

Editor's Comment

The spread is an important indicator of trading costs, and the differences in spreads across account types affect both trading costs and execution efficiency.

• Prime, ECN 0.0 pips: This account offers a 0 pip spread, meaning traders can access market prices with virtually zero trading costs, making it ideal for high-frequency traders or professional investors.
• R StocksTrader Spread from 0.02 USD: This spread, based on price fluctuations, is suitable for stock traders and provides a competitive spread starting from just 0.02 USD, which is relatively low.
• ProCent and Pro Floating from 1.3 pips: These accounts have a larger spread, making them suitable for regular traders. However, the floating spread can vary during market volatility, introducing some uncertainty, which results in higher trading costs compared to lower spread accounts.

Is it Safe to Trade with RoboForex?

Your funds are fully secured when you trade with RoboMarkets.

Regulatory Authorities: CYSEC, NBRB, FCA and FSC

Negative balance Protection

In certain situations, market fluctuations can lead to clients being unable to maintain a positive account balance. In such cases, RoboMarkets Ltd. will reset the account balance to zero. This occurs automatically when the account balance becomes negative.

Account Verification

The account verification procedure is a mandatory step to start trading with RoboMarkets and is an important measure to enhance the protection of your funds and Members Area.

Editor's Comment

RoboMarkets is regulated by several authoritative regulatory bodies, such as CYSEC, NBRB, FCA, and FSC, which enhances its credibility in terms of security. In addition, negative balance protection further ensures the safety of clients' funds during significant market fluctuations, preventing clients' losses from exceeding their account balance.

However, these protective measures may not completely eliminate risks in certain situations, especially under extreme market conditions. Tools such as stop-loss orders, monitoring of open positions and orders, and leverage management provide clients with ways to manage risk, but whether losses can be fully avoided ultimately depends on the client's actions and market volatility.

RoboMarkets Bonus Programs

RoboMarkets offers two types of promotional incentives for its clients.

Cashback (Rebates)

• Up to 15%
• Cashback is available for a trading volume of 10 lots.
• Open to all verified clients.
• Cashback is provided in real money and can be withdrawn immediately.

Account Balance Cashback

• Up to 10%
• Cashback is calculated based on the account balance.
• Available starting from a trading volume of 1 lot.
• No restrictions on withdrawals, which can be made instantly.
• Monthly cashback payments are based on the account balance.

Conclusion

RoboForex is a well-regulated online trading platform offering low spreads starting from 0 pips and commission-free deposits, making it suitable for both beginners and professional traders. With various account types and demo accounts, users can test strategies in a risk-free environment. The negative balance protection enhances fund security. However, market fluctuations may still pose risks, and clients should manage risk effectively to protect their funds.

Frequently Asked Questions

Does RoboForex offer an Islamic Account?

Yes, RoboForex provides Islamic Swap-Free options for certain live trading accounts.

Does RoboForex offer deposit bonus or rebates?

Yes. RoboForex's “Cashback Program” allows verified clients to earn cashback based on their monthly trading volume. The higher the trading volume, the greater the cashback. This program is available for all account types, with a minimum of 10 lots traded required to participate.

What is the minimum deposit required to open a Roboforex account?

The minimum deposit amount required to register a live RoboForex trading account is $10 USD.

How long does it take to make a withdrawal?

Withdrawals with RoboForex are processed within 2 business days from 9:00 am – 6:00 pm (EET).

What is the minimum withdrawal amount on RoboForex?

The minimum withdrawal amount on RoboForex varies by payment method, typically ranging from $1 to $5. For Bank Transfers, the minimum is $500 or the equivalent in Euros.