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MT4

The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.

PROS

This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.

+20 Years in Business

This platform offers a simple and straightforward registration process, allowing users to quickly create an account and start trading without unnecessary complications.

Simple Registration Process

This platform offers tight spreads, ensuring competitive pricing and cost-effective trading.

Tight spreads

CONS

This platform is not regulated by any credible government agency, which means it may not operate in compliance with industry standards and regulations. The lack of regulation poses potential risks and uncertainties for traders, as there are no specific rules and guidelines in place to protect their interests.

Unregulated

This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.

Poor Customer Support

PROS & CONS

APPS

METATRADER 4

Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.

METATRADER 5

Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.

ROBOFOREX

ACCOUNT OPENING

How to Open a Trading Account with Roboforex


Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:


  1. Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.

  2. Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
    Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).

  3. Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.

  4. Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).

  5. Access the Trading Platform: Download and install the trading platform. Log in with your account details.
    Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
    Start Trading: Once your account is set up and funded, you can start trading.



How to Deposit


Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:


  1. Log in to your newly created account.

  2. Click on "Deposit Funds".

  3. Enter the amount and select the currency.

  4. Finally, select your chosen deposit method. Don't worry, it's a  secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.


Below we show you the available alternatives.

Bank Transfer
Credit Card
Wise

Deposit & Withdrawal Methods

Year

2009

HeadQuarters

Belize

Service

TRADING

Website

BASIC INFO

RoboForex is a well-regarded online broker providing trading services in Forex, stocks, indices, and cryptocurrencies. The platform offers a variety of account types, trading platforms, and tools to suit diverse trading needs. RoboForex is known for its automated trading options, competitive spreads, and cashback programs. The broker emphasizes innovation and client satisfaction, making it a popular choice for traders interested in leveraging technology for an enhanced trading experience.

REGULATION

Financial Services Commission of Belize

IFSC

Belize

ASSETS & SERVICES

RoboForex is a solid choice for investors interested in FX (Forex) and CFD (Contract for Difference) trading. It offers a wide range of financial assets, including:


  • Currency Pairs (Forex): Currency pairs are one of the most popular assets in trading. Investors can speculate on the fluctuation of exchange rates between major currencies, such as EUR/USD, GBP/JPY, and USD/JPY.

  • Stocks: It allows the buying and selling of CFDs of stocks of companies listed on various stock exchanges worldwide. This provides investors with the opportunity to invest in leading companies like Apple, Amazon, Microsoft, and many others.

  • Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. Investors can trade indices such as the S&P 500, FTSE 100, DAX, and more, allowing them to diversify their portfolios.

  • Commodities: Commodity assets include crude oil, gold, silver, natural gas, corn, coffee, and other basic commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.

  • Cryptocurrencies: You can trade CFDs on a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.

ROBOFOREX: AUTOMATION AND INNOVATION IN FOREX TRADING

Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.

4.12.23

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