RoboForex Review
Overall, RoboForex can be summarized as a trustworthy broker that offers 0% deposit and withdrawal fees, low spreads, and a sign-up bonus of $30 / 401 BWP offered to first-time traders. RoboForex has an overall Trust Score of 9/10. RoboForex is currently not regulated by the Central Bank of Botswana.
- Lesche Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawels
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
36
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Overall, RoboForex is considered low-risk, with an overall Trust Score of 88 out of 100. RoboForex is licensed by zero Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). RoboForex offers five different retail trading accounts: a Prime Account, ECN Account, R StocksTrader Account, ProCent Account, and Pro Account.
RoboForex is a well-established broker with over 1 million customers in 169 countries, offering trading and investment options to traders of varied skill levels.
RoboForex has been in business for 12 years. During that time, it has earned a reputation as an award-winning broker with extensive and sophisticated services.
RoboForex accepts Botswanan clients and has an average spread from 0.0 pips with $10 commissions per million traded. RoboForex has a maximum leverage ratio of up to 1:2000, and a demo and Islamic account are available.
MT4, MT5, cTrader, R StocksTrader, and R MobileTrader platforms are supported. RoboForex is headquartered in Belize and regulated by the IFSC.
Popularity among traders
Despite having a modest physical presence in the nation, RoboForex is one of the Top 20 forex and CFD brokers for Botswanan traders.
RoboForex At a Glance
| 🏛 Headquartered | Belize |
| 🌎 Global Offices | Belize and Cyprus (RoboMarkets) |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2009 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | International Financial Services Commission (IFSC) |
| 1️⃣ Tier-1 Licenses | None |
| 2️⃣ Tier-2 Licenses | None |
| 3️⃣ Tier-3 Licenses | International Financial Services Commission (IFSC) |
| 🪪 License Number | 000138/210 and registration no. 128.572 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | Yes |
| ✔️ Regional Restrictions | Yes |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 5 |
| ✔️ PAMM Accounts | Yes |
| 💻 Liquidity Providers | 8 Liquidity Providers |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | From 0.0 pips |
| 📉 Minimum Commission per Trade | 10 USD per million traded |
| 💰 Decimal Pricing | Up to 5 digits after the comma |
| 📞 Margin Call | 40% to 60% |
| 🛑 Stop-Out | 10% to 40% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 500 lots |
| ✅ Crypto trading offered? | No |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:2000 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 130 BWP or an equivalent to $10 |
| ✔️ Botswana Pula Deposits Allowed? | No, only USD, GBP, EUR |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based RoboForex customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Bank Payments (26) • Electronic Payments (6) • Bank Cards (2) • Cash and Vouchers (15) |
| 💻 Minimum Withdrawal Time | Instant |
| ⏰ Maximum Estimated Withdrawal Time | Up to 10 working days |
| 💳 Instant Deposits and Instant Withdrawals? | Yes |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • cTrader • R StocksTrader • R MobileTrader |
| 💻 Tradable Assets | • Forex • Stocks • Indices • ETFs • Commodities • Metals • Energy Commodities • Cryptocurrencies |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | No |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Polish, Indonesian, Malayan, Portuguese, Spanish, Italian, Czech, Simplified Chinese, Vietnamese, and more |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/7 |
| 📞 Botswana-based customer support? | Yes |
| 💸 Bonuses and Promotions for Botswanans? | Yes |
| 📚 Education for Botswana beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Currently unknown |
| ✔️ Is RoboForex a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for RoboForex Botswana | 9/10 |
| 🥇 Trust score for RoboForex Botswana | 88% |
| 👉 Open Account | 👉 Open Account |
Regulation and Safety of Funds
Regulation in Botswana
The local market regulators in Botswana are as follows:
➡️ Ministry of Finance and Economic Development (MFED)
➡️ Bank of Botswana (BoB)
➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
While they are regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, RoboForex is a popular and trustworthy broker that accommodates Botswanan traders.
Global Regulations
RoboForex Ltd has been granted a license by Belize’s International Financial Services Commission (IFSC) under license number 000138/210.
Client Fund Security and Safety Features
The broker is mandated by anti-money laundering (AML) regulations and Know Your Customer (KYC) regulations to verify each customer’s identity and to prohibit payments from third parties or unknown sources.
RoboForex Ltd’s customers could be eligible to compensation of up to €20,000 from a member of the Compensation Fund’s Compensation Fund.
In addition, RoboForex’s Civil Liability Insurance also covers fraud, mistakes, carelessness, and other damages up to a maximum of 5 million EUR.
Verify My Trade (VMT), the execution quality certificate of RoboForex Limited verifies that the broker meets all Financial Commission criteria.
Individual investors may also benefit from the negative balance protection on all retail accounts.
Is RoboForex a regulated broker, and which regulatory authorities oversee its operations?
Yes, the broker is a regulated broker committed to maintaining high standards of integrity and client protection. The company operates under different entities, each subject to specific regulatory oversight. RoboForex Ltd, the international branch, is regulated by the International Financial Services Commission (IFSC) of Belize.
How does RoboForex ensure the safety of client funds?
The broker prioritizes the safety of client funds through various protective measures. As a regulated broker, the company follows strict regulatory requirements set by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).
Awards and Recognition
Since its establishment, RoboForex has endeavoured to offer its consumers and partners the most favourable trading conditions. As a result, RoboForex is often nominated for prestigious awards and receives prestigious recognition for its work.
The most recent honours earned by RoboForex include, but are not limited to:
➡️ Most Trusted Broker Worldwide (2024), awarded by International Business Magazine.
➡️ The World’s Most Transparent Broker (2024), presented at the World Economic Magazine Awards.
➡️ Best Global Stock Broker (2024), presented at the London Trader Show Awards.
➡️ Traders Union IAFT’s Best Broker of the Year Award for 2021.
➡️ Best Affiliate Program in the World for 2021, presented at the Global Forex Awards.
Has RoboForex received any notable awards for its services in the financial industry?
Yes, the broker has earned recognition through various notable awards in the financial industry. The platform has been honored across different categories, including trading services, technological innovation, and customer satisfaction.
How is RoboForex regarded in the financial industry, and what does its reputation suggest about the platform?
The broker enjoys a positive reputation within the financial industry, reflecting its dedication to providing a wide range of trading services and maintaining customer satisfaction. The receipt of various awards and positive reviews from traders further underscores RoboForex’s success in delivering a reliable and user-friendly trading experience.
RoboForex Account Types and Features
The broker provides Botswanan traders with five distinct retail investor accounts, including:
➡️ Prime Account
➡️ ECN Account
➡️ R StocksTrader Account
➡️ ProCent Account
➡️ Pro Account
| 💻 Live Account | 💳 Minimum Dep. | 📊 Average Spread | 💸 Commissions | 💰 Average Trading Cost |
| Prime | 130 BWP/10 USD | 0.0 pips | 10 USD per million traded | 3 USD |
| ECN | 130 BWP/10 USD | 0.0 pips | 20 USD per million traded | 5 USD |
| R StocksTrader | 1,300 BWP or 100 USD | 0.0 pips | From $0.009 | 1 USD |
| ProCent | 130 BWP/10 USD | 1.3 pips | None | 13 USD |
| Pro | 130 BWP/10 USD | 1.3 pips | None | 13 USD |
Live Trading Account Details
Prime Account
The Prime Account is advantageous to Forex and other traders since it provides optimal trading circumstances. In addition, the Prime account differs from other traditional trading accounts in that it is meant for traders of all experience levels.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 📉 Base Currency Options | USD, EUR, GOLD |
| 📈 Minimum Deposit Requirement | 130 BWP or equivalent to either 10 USD or EUR |
| 💵 Commission | Yes, $10 per million traded |
| 📊 Spreads | Floating from 0.0 pips EUR/USD |
| 📱 Trade Execution | Market |
| 💸 Tradable Instruments | 28 Forex Pairs, Spot Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 💰 Maximum Leverage Ratio | 1:300 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 100% |
| ✔️ Bonuses Offered | No profit share or classic deposit bonus |
| 💵 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💰 Trading Account History Time Frame | 12 Months |
ECN Account
Opening an Electronic Communications Network (ECN) account is viable for seasoned traders seeking the fastest order execution and optimal trading circumstances.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 📉 Base Currency Options | USD, EUR, CNY, GOLD |
| 📈 Minimum Deposit Requirement | 130 BWP or equivalent to either 10 USD or EUR |
| 💵 Commission | Yes, $10 per million traded |
| 📊 Spreads | Variable spread from 0.0 pips EUR/USD |
| 📱 Trade Execution | Market |
| 💸 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 💰 Maximum Leverage Ratio | 1:500 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 40% |
| ✔️ Bonuses Offered | Up to 15% of RoboForex’s revenue |
| 💵 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💰 Trading Account History Time Frame | 12 Months |
R StocksTrader Account
Through this account, traders in Botswana get access to the R StocksTrader proprietary trading platform, which is designed for stock trading and investing.
| Account Feature | Value |
| 💻 Trading Platforms available | R StocksTrader |
| 📉 Base Currency Options | USD, EUR |
| 📈 Minimum Deposit Requirement | 1,300 BWP first deposit or an equivalent to $100 |
| 💵 Commission | • US Stocks ($10,000+ Deposit) – $0.009 p/share • US Stocks – $0.025 per share • US Stock CFDs – $0.02 per share • EU Stock CFDs – 0.07% • $15 per 1 million base currency on Forex • Variable commission on Indices |
| 📊 Spreads | • US Stocks ($10,000+ Deposit) – from $0.01 • US Stocks – from $0.01 • US Stock CFDs – from $0.01 • EU Stock CFDs – from 0.0 Pips • Forex – from 0.0 pips • Indices – from 0.5 pips |
| 📱 Trade Execution | Over 12,000 instruments across Indices, Individual Stocks, Stock CFDs, Forex, ETFs, Oil CFDs, Metal CFDs, Brazil Stock CFDs, Crypto |
| 💸 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 💰 Maximum Leverage Ratio | • US Stocks ($10,000+ Deposit) – up to 1:20 • US Stocks – 1:2 • US Stock CFDs – up to 1:20 • EU Stock CFDs – up to 1:5 • Forex – up to 1:300 • Indices – 1:100 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | None |
| 🛑 Stop-Out | 20% |
| ✔️ Bonuses Offered | Up to 15% of RoboForex’s revenue |
| 💵 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💰 Trading Account History Time Frame | None |
ProCent Account
This account is ideal for novice and seasoned traders since it enables them to evaluate trading strategies and Expert Advisors. In addition, this is the first actual trading account a trader can open to ease them into realistic market conditions after completing a demo account.
When coupled with RoboForex’s exclusive mobile trading capabilities, this account is regarded as one of the greatest automatic trading options.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader |
| 📉 Base Currency Options | USD, EUR, CNY, GOLD |
| 📈 Minimum Deposit Requirement | 130 BWP or equivalent to either 10 USD or EUR |
| 💵 Commission | None |
| 📊 Spreads | Market |
| 📱 Trade Execution | 36 Forex Pairs, Precious Metals, Cryptocurrencies |
| 💸 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 💰 Maximum Leverage Ratio | 1:200 |
| 📉 Minimum Trade Volume | Up to 1.5% of RoboForex’s revenue |
| 📈 Maximum Trade Volume | 10,000 cent lots |
| 🛑 Stop-Out | 10% |
| ✔️ Bonuses Offered | Yes, Profit Share (60%), Classic Deposit (120%) |
| 💵 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💰 Trading Account History Time Frame | 1 year |
Pro Account
Pro Account is the optimal choice for professional traders in Botswana who want the tightest spreads, commission-free trading, access to a limited number of trading platforms, and high leverage.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 📉 Base Currency Options | USD, EUR, CNY, GOLD |
| 📈 Minimum Deposit Requirement | 130 BWP or equivalent to either 10 USD or EUR |
| 💵 Commission | None |
| 📊 Spreads | Market |
| 📱 Trade Execution | Variable spread from 1.3 pips EUR/USD |
| 💸 Tradable Instruments | Market |
| 💰 Maximum Leverage Ratio | 1:200 |
| 📉 Minimum Trade Volume | Up to 1.5% of RoboForex’s revenue |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 20% |
| ✔️ Bonuses Offered | Yes, Profit Share (60%), Classic Deposit (120%) |
| 💵 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | Yes |
| 💰 Trading Account History Time Frame | 1 year |
Base Account Currencies
RoboForex clients may choose from various base currencies, including USD, EUR, CNY, and GOLD.
Botswanans holding BWP-denominated bank accounts will be subject to a currency translation tax on deposits and withdrawals. Unfortunately, currency conversion costs may raise trading expenses and diminish profits.
Demo Account
The broker offers three demo accounts: Demo Pro, Demo, and Demo R Trader.
The Demo Pro account is the most popular choice since it replicates the trading conditions of standard account packages, including maximum leverage of 1:2000 and variable spreads beginning at 0.00 pips.
Moreover, Botswana traders may practice trading tactics on all platforms using trial accounts without risking real funds. However, traders must be aware that while the demo account is free, it is only accessible for 90 days before expiring.
Islamic Account
The broker provides a certain sort of account: Islamic Swap-Free accounts. Swap-Free account holders are subject to a predetermined forex fee based on the currency pair and the number of open lots but not on the interest rates of the issuing banks.
A swap-free account type was designed specifically for Muslim customers prohibited by Sharia law from trading using swaps. The “Swap-Free” feature is exclusive to cent and basic MetaTrader 4 accounts and Affiliate accounts.
When you convert your account type to Swap-Free, all other forex trading conditions stay the same. This is because the overnight commission relies only on the instrument and open position volume.
What types of trading accounts does RoboForex offer, and how do they differ?
The broker provides a range of trading accounts designed to suit the diverse needs of traders. The key account types include Pro-Standard, ECN-Pro NDD, and Prime accounts.
What features are included with RoboForex trading accounts?
The brokers trading accounts come with a range of features to enhance the trading experience for clients. Across different account types, traders have access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their advanced charting tools, technical analysis features, and automated trading capabilities.
How to Open a RoboForex Demo Account – Step by Step
To register for, and set up a demo account, traders can follow these steps:
Step 1: Start on the RoboForex Landing Page.
Navigate to the website and hover over the ‘Trading’ tab and select ‘Demo Accounts’ from the dropdown menu.
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.
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.
Step 4: Select Account Type
The applicant will be met with the following screen and can now select +Add Account.
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 Vs IC Markets Vs FBS – Broker Comparison
| 🥇 RoboForex | 🥈 IC Markets | 🥉 FBS | |
| ⚖️ Regulation | IFSC | ASIC, CySEC, FSA, SCB | IFSC, CySEC, ASIC, FSCA |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • cTrader • R StocksTrader • R MobileTrader | • MetaTrader 4 • MetaTrader 5 • cTrader | • MetaTrader 4 • MetaTrader 5 • FBS Trader • CopyTrade |
| 💰 Withdrawal Fee | Yes | No | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 130 BWP | 2,600 BWP | 13 BWP |
| 📊 Leverage | 1:2000 | 1:500 | Up to 1:3000 |
| 📊 Spread | From 1 pip | Variable, from 0.0 pips | Variable, from 0.0 pips |
| 💰 Commissions | $10 per million traded | From $3 to $3.5 | From $6 |
| ✴️ Margin Call/Stop-Out | • Margin: 40% – 60% • Stop-out: 10% – 40% | 100%/50% | 40%/ 20% |
| 💻 Order Execution | Market | Market | Market |
| 💳 No-Deposit Bonus | Yes | No | Yes |
| 📊 Cent Accounts | No | No | Yes |
| 📈 Account Types | • RoboForex Prime Account • RoboForex ECN Account • RoboForex R StocksTrader Account • RoboForex ProCent Account • RoboForex Pro Account | • cTrader Account • Raw Spread Account • Standard Account | • Cent Account • Micro Account • Standard Account • Zero Account • ECN Account • Crypto Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 BWP Deposits | Yes | No | Yes |
| 📊 Botswana Pula Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/7 | 24/7 |
| 📊 Retail Investor Accounts | 5 | 3 | 6 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 500 lots | Unlimited | 500 lots |
| 💰 Minimum Withdrawal Time | Up to 1 working day | Instant | 15 to 20 minutes (maximum 48 hours) |
| 📊 Maximum Estimated Withdrawal Time | Up to 10 working days | Up to 14 business days | Up to 7 days |
| 💸 Instant Deposits and Instant Withdrawals? | No | Yes, on PayPal, Neteller, and Skrill | Instant Deposits |
RoboForex Trading Platforms
The broker offers Botswanan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
➡️ R StocksTrader
➡️ R MobileTrader
MetaTrader 4
Most retail traders still prefer utilizing the tried-and-true MetaTrader 4 platform. However, all levels of investors, from newcomers to seasoned pros, will find our platform accessible and user-friendly. The terminal also includes MQL-platform-exclusive tools and possibilities.
MetaTrader 5
MetaTrader 5’s (MT5) trading interface integrates order execution with distributed computing, making it feasible to execute even the most complicated trading strategies with ease.
MetaTrader 5, one of the most advanced trading platforms available, could be used to develop and evaluate automated trading strategies and robots.
The MetaTrader 5 platform is the greatest option for Botswanan traders who put a premium on speed and reliability when using trading robots and want to take advantage of the newest and most innovative technologies.
cTrader
With its cTrader platform, RoboForex provides a Straight Through Processing (STP) access option for institutional traders. Experienced traders who need access to granular order customization, level II pricing, and immediate execution may choose cTrader as their platform.
Over 50+ indicators, 9 advanced interactive chart styles, 14 timeframes, alerts, and more are some of the many helpful tools available on the cTrader platform. In addition, trading robots and indicators written in C# could be created by traders with the help of cTrader Automate.
R StocksTrader
R StocksTrader is an all-in-one multi-asset terminal that takes the best features of both traditional layout and innovative engineering.
This creates a product that is superior to both of its components. Botswana traders have access to any global market using a web terminal that can be accessed from any Internet-enabled device.
R MobileTrader
The R MobileTrader app is a fully functional, portable “workstation” that facilitates optimal trade execution, rapid capital deposits to trading accounts, and in-depth market analysis for traders on the go.
What trading platforms does RoboForex offer, and how do they differ?
The broker provides traders with access to a variety of cutting-edge trading platforms, catering to different preferences and trading styles. The platform offers the widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are known for their intuitive interfaces, advanced charting tools, and support for automated trading through Expert Advisors (EAs).
Can I trade on RoboForex using my mobile device, and what features are available on the mobile platforms?
Absolutely. The broker recognizes the importance of mobile trading and offers mobile versions of MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for both iOS and Android devices.
Range of Markets
Botswanan traders can expect the following range of markets:
➡️ Forex
➡️ Stocks
➡️ Indices
➡️ ETFs
➡️ Commodities
➡️ Metals
➡️ Energy Commodities
➡️ Cryptocurrencies
Financial Instruments and Leverage offered
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 40 | 1:2000 |
| ➡️ Precious Metals | 2 | 1:1000 |
| ➡️ ETFs | 1,000 | 1:20 |
| ➡️ Indices | 5 | 1:100 |
| ➡️ Stocks | 12,000 | 1:20 |
| ➡️ Commodities | 26 | 1:50 |
| ➡️ Energies | 100 | 1:20 |
What financial instruments can I trade on RoboForex?
The broker provides a diverse range of financial instruments, allowing traders to access various markets and asset classes. The platform covers the dynamic foreign exchange market (forex) with a wide array of currency pairs, including majors, minors, and exotic pairs. Additionally, traders can participate in the stock markets by trading individual stocks from global exchanges.
Does RoboForex offer cryptocurrency trading, and what cryptocurrencies are available on the platform?
Yes, the broker recognizes the growing popularity of cryptocurrencies and allows traders to engage in cryptocurrency trading. The platform typically offers a selection of popular digital assets, including but not limited to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
Broker Comparison for Range of Markets
| 🥇 RoboForex | 🥈 IC Markets | 🥉 FBS | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | Yes | No | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | No | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
Trading and Non-Trading Fees
Spreads
The brokers spreads vary by account type and trading instrument. Therefore, Botswanan traders should choose an account and instrument carefully. Based on their trading account, traders may encounter the following EUR/USD spreads.
The following is what investors could anticipate:
➡️ Prime Account – from 0.0 pips
➡️ ECN Account – 0.0 pips
➡️ R StocksTrader Account – from $0.01
➡️ ProCent Account – from 1.3 pips
➡️ Pro Account – from 1.3 pips
Commissions
Depending on the kind of trading account opened, commission fees might regularly occur for investors. As a result, the following commission rates could apply to Botswanans:
➡️ ECN Account – $20 per million traded
➡️ Prime Account – $10 per million traded
Overnight Fees, Rollovers, or Swaps
The broker overnight costs depend on the trader’s position size, the market environment, and the underlying financial instrument. These are some of the typical overnight expenses incurred by Botswanan traders:
➡️ EUR/USD – a short swap of -0.08 points and a long swap of -0.679 points.
➡️ XAG/USD – a short swap of 0.028 points and a long swap of -0.179 points.
➡️ XAU/USD – a short swap of -7.4466 and a long swap of -13.3 points.
➡️ CFDs – short swaps of -3.0% and long swaps of -6.0%.
➡️ Cryptocurrencies – short swaps of -20% and long swaps of -20%.
➡️ US Stock CFDs – short swaps of -3% and long swaps of -6%.
Deposit and Withdrawal Fees
Deposits made by Botswanan traders with RoboForex are free of charge. However, the following withdrawal fees apply:
➡️ ThunderX, Shop2Pay, Eximbank, TPBank, Maritime bank, Agribank, Asia Commercial Bank, BIDV, VIB, Techcombank, VietinBank, Vietcombank, Bank Transfer (SEPA) – 1.5%
➡️ Local Bank Transfer – up to 4%
➡️ AstroPay – 0.5%
➡️ Skrill – 1%
➡️ Neteller – 1.9%
➡️ Perfect Money – 0.5%
➡️ AdvCash – 1%
➡️ Debit and Credit Cards – 2.6% + 1.3 USD or 1 EUR
Inactivity Fees
Once a live trading account is inactive, no costs are incurred.
Currency Conversion Fees
There could be currency conversion fees incurred when a trader deposits money in a currency other than the US dollar, the euro, the yuan, or gold.
What are the trading fees associated with RoboForex, and how are they structured?
The broker employs a transparent fee structure primarily based on spreads for various financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies. The spread is the difference between the buying (ask) and selling (bid) prices of an asset.
Are there any non-trading fees on RoboForex, and what should traders be aware of?
In addition to trading fees, they may charge non-trading fees that traders should consider. Non-trading fees may include overnight financing fees (swap rates) for positions held overnight, withdrawal fees, and inactivity fees for dormant accounts.
RoboForex Deposits and Withdrawals
The broker offers the following deposit and withdrawal methods:
➡️ Bank Payments
➡️ Boleto
➡️ Santander Rio
➡️ Bancolombia
➡️ PSE
➡️ China UnionPay
➡️ Banco Do Brazil
➡️ Bradesco
➡️ ITAU
➡️ Webpay
➡️ Spei
➡️ ThunderX (QR-Code)
➡️ Shop2Pay (QR-Code)
➡️ Eximbank
➡️ TPBank
➡️ Agribank
➡️ Maritime Bank
➡️ Asia Commercial Bank
➡️ BIDV
➡️ VIB
➡️ Techcombank
➡️ VietinBank
➡️ Vietcombank
➡️ TED/DOC
➡️ Bank Transfer (SEPA)
➡️ Local Bank Transfer
➡️ AstroPay
➡️ Skrill
➡️ Neteller
➡️ Perfect Money
➡️ AdvCash
➡️ Nganluong Wallet
➡️ China UnionPay Bank Card
➡️ VISA, MasterCard, JCB
➡️ Cash and Vouchers
➡️ Western Union
Broker Comparison: Deposit and Withdrawals
| 🥇 RoboForex | 🥈 IC Markets | 🥉 FBS | |
| Minimum Withdrawal Time | Up to 1 working day | Instant | 15 to 20 minutes (maximum 48 hours) |
| Maximum Estimated Withdrawal Time | Up to 10 Working Days | Up to 14 business days | Up to 7 days |
| Instant Deposits and Instant Withdrawals? | No | Yes, on PayPal, Neteller, and Skrill | Instant Deposits |
RoboForex Deposit Currencies, Processing Times, Max Deposit, Min, and Max Withdrawal
| 💳 Payment Method | 💵 Deposit Currencies | 💳 Deposit Processing | 💰 Withdrawal Processing | 💸 Max Deposit | 📉 Min Withdrawal | 📈 Max Withdrawal |
| Bank Payments | USD, BRL | Up to 1 day | – | 10,000 USD | – | – |
| Boleto | USD, BRL | Up to 1 day | – | 10,000 USD | – | – |
| Santander Rio | USD | Up to 1 day | – | 10,000 USD | – | – |
| Bancolombia | USD | Up to 1 day | – | 10,000 USD | – | – |
| PSE | USD | Up to 1 day | – | 10,000 USD | – | – |
| China UnionPay | USD | Up to 1 day | – | 50,000 CNY | – | – |
| Banco Do Brazil | USD | Up to 1 day | – | 10,000 USD | – | – |
| Bradesco | USD | Up to 1 day | – | 10,000 USD | – | – |
| ITAU | USD | Up to 1 day | – | 500 USD | – | – |
| Webpay | USD | Up to 1 day | – | 10,000 USD | – | – |
| Spei | USD | Up to 1 day | – | 3,000 USD | – | – |
| ThunderX (QR-Code) | THB, LAK, MMK, KHR | Up to 3 days | Up to 1 day | 500,000 THB | 530 THB | 500,000 THB |
| Shop2Pay (QR-Code) | THB | Up to 3 days | Up to 1 day | 2,000,000 THB | 350 THB | 500,000 THB |
| Eximbank | VND | Up to 3 days | – | 99,999,999 VND | – | – |
| TPBank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| Agribank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| Maritime Bank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| Asia Commercial Bank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| BIDV | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| VIB | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| Techcombank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| VietinBank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| Vietcombank | VND | Up to 1 day | – | 99,999,999 VND | – | – |
| TED/DOC | BRL | Up to 1 day | – | 500,000 BRL | – | – |
| Bank Transfer (SEPA) | EUR | Up to 1 day | Up to 3 days | 100,000 EUR | 500 EUR | 49,990 EUR |
| Local Bank Transfer | MYR | Up to 1 day | Up to 1 day | 20,000 MYR | 60 MYR | 50,000 MYR |
| AstroPay | AED, AUD, BRL, CLP, CNY, EUR, GBP, IDR, INR, JPY, MXN, MYR, NGN, THB, USD, VND | Up to 1 day | Up to 1 day | 10,000 USD | 10 USD | 10,000 USD |
| Skrill | USD, EUR | Up to 1 day | Up to 1 day | 25,000 USD | 1 USD | 100,000 USD |
| Neteller | USD, EUR, MYR, IDR, AED, PLN | Up to 1 day | Up to 1 day | 50,000 USD | 5 USD | 100,000 USD |
| Perfect Money | USD, EUR | Up to 1 day | Up to 1 day | 25,000 USD | From 0.1 USD | – |
| AdvCash | USD, EUR, UAH, BRL, GBP, KZT | Up to 1 day | Up to 1 day | 49,999 USD | 0.1 USD | 49,999 USD |
| Nganluong Wallet | VND | Up to 1 day | Up to 1 day | 100,000,000 VND | None | None |
| China UnionPay Bank Card | CNY | Up to 1 day | – | 100,000 CNY | – | – |
| VISA, MasterCard, JCB | USD, EUR, CHF, GBP, PLN, CZK, UAH, CNY, MYR, KZT | Up to 1 day | Up to 10 days | – | – | 10,000 USD |
| Cash and Vouchers | USD | Up to 1 day | – | 500 USD | – | – |
| Western Union | USD | Up to 1 day | – | 500 USD | – | – |
How can I make a deposit into my RoboForex trading account, and what payment methods are supported?
Depositing funds into your trading account is a straightforward process. The platform supports various payment methods, including bank wire transfers, credit/debit cards, and popular e-wallet options such as Skrill, Neteller, and WebMoney.
How can I initiate a withdrawal from my RoboForex trading account, and what withdrawal options are available?
Initiating a withdrawal from your trading account is a simple process. Log in to your account, go to the withdrawal section, and select your preferred withdrawal method. RoboForex typically processes withdrawals using the same method that was used for the initial deposit. Withdrawal options may include bank transfers, credit/debit cards, and e-wallets.
How to Deposit Funds with RoboForex
RoboForex account funding is very easy and only takes a few minutes to complete. Like most brokers, RoboForex requires a certain minimum amount for each deposit. It depends on the account type that you use:
Step 1: Log in
Log in to your Member Area using your email and password.
Step 2: Click the “Deposit” button
Select the trading account that you’d like to deposit into and click the “Deposit” button to its right. Please note that you must be verified to fund your account.
Step 3: Choose payment method
You will be redirected to the deposit funds page where all of the available funding methods are displayed. Choose the payment method that you desire, then choose the deposit type. You can also decide whether you want to get the deposit bonus and specify the percentage.
Step 4: Hit “Deposit Funds”
Specify the bonus amount and the currency, then hit “Deposit Funds” to proceed to the next step.
Step 5: Click “Deposit Funds”
You’ll need to confirm your request once more. Make sure that the details you’re giving to RoboForex are correct and click “Deposit Funds” again.
All done! Now you just have to wait for the funds to be delivered to your account.
Keep in mind that after completing the request, the funds will be transferred in a matter of a few minutes. However, if the funds cannot be deposited automatically by the payment system, your deposit request will be processed within two working days.
How to Withdraw Funds with RoboForex
To withdraw funds from an account, Botswana traders can follow these steps:
Step 1: Log in
To initiate a withdrawal, log in to your RoboForex account and access the “Withdraw Funds” feature.
Step 2: Members Area
RoboForex account holders must first verify and authorize their account before attempting to withdraw cash
Traders must ensure that the account they want to withdraw money from is the one that is currently active in the Members Area
Traders can choose from a variety of payment options
Next, traders can click “Go To” once they have chosen their withdrawal method
Depending on the payment method used, traders could be required to provide extra information.
Creating a withdrawal request will redirect the trader to the next page, where can provide additional information. In addition, Kenyan traders must note that RoboForex processes all withdrawal requests in two working days, from 9 am to 6 pm (EET).
Education and Research
Education
The broker offers the following Educational Materials:
➡️ Guides on Account Opening and Trading
➡️ Educational Videos
➡️ FAQ Section
Research and Trading Tool Comparison
| 🥇 RoboForex | 🥈 IC Markets | 🥉 FBS | |
| ➡️ Economic Calendar | Yes | Yes | Yes |
| ➡️ VPS | Yes | Yes | Yes |
| ➡️ AutoChartist | Yes | Yes | No |
| ➡️ Trading View | No | No | No |
| ➡️ Trading Central | Yes | Yes | Yes |
| ➡️ Market Analysis | Yes | Yes | Yes |
| ➡️ News Feed | Yes | Yes | Yes |
| ➡️ Blog | Yes | Yes | Yes |
The broker also offers Botswanan traders the following additional Research and Trading Tools:
➡️ Forex Analysis and Forecasts
➡️ RoboForex Analytics Centre
➡️ Economic Calendar
➡️ Blog
➡️ R StocksTrader Strategy Builder
➡️ Trading Calculators
➡️ Financial Charts
➡️ Trading Tips
➡️ Expert Advisors
➡️ Changes in Trading Schedule
➡️ CopyFX
What educational resources does RoboForex offer to help traders improve their skills and knowledge?
The broker is committed to supporting the educational needs of traders by providing a range of comprehensive resources. The platform offers educational materials such as webinars, video tutorials, and written guides covering various topics, from basic concepts to advanced trading strategies.
What research tools are available on RoboForex to assist traders in making informed decisions?
The broker equips traders with various research tools to facilitate informed decision-making. The platform provides daily market analysis, economic calendars, and expert commentary to keep traders updated on significant market events and trends.
Bonuses and Promotions
The broker offers Botswanan traders the following bonuses and promotions:
➡️ Promotion to the value of $1.1 million to celebrate 11 years
➡️ Welcome Bonus
➡️ Profit Share Bonus
➡️ Classic Bonus
➡️ Cashback (rebates)
➡️ Up to 10% back on trading accounts
Does RoboForex offer any bonuses to traders, and how do these bonus programs work?
Yes, the broker offers various bonus programs to enhance the trading experience for its clients. These bonuses can include deposit bonuses, welcome bonuses, and other promotional offers.
Are there any ongoing promotional offers on RoboForex, and how can traders participate?
The broker regularly introduces promotional offers to reward its clients and encourage active trading. These promotions may include cashback programs, trading contests, and loyalty programs. Traders can participate by meeting specific criteria outlined in each promotion.
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Official Site
How to open an Affiliate Account
To register an Affiliate Account, Botswanan traders can follow these steps:
➡️ To learn more about becoming a RoboForex partner, go to their website and click the “For Partners” link.
➡️ To learn all there is to know about the Affiliate Program, just hover over that area and select “Download Affiliate Program Presentation.”
➡️ Next, go to the Affiliate Program’s “Overview” page, and choose the green “Become a Partner” banner.
➡️ Sign up for the Affiliate Portal by giving your email address, first and last name, and cell phone number.
➡️ Please verify that you are above the age of 18 and that you agree to the terms outlined in the required paperwork.
➡️ After that, your login information will be sent to the email address you supplied.
➡️ Upon logging in, you can validate your information before accessing the RoboForex marketing resources.
How can I open an affiliate account with RoboForex, and what are the steps involved?
Opening an affiliate account with RoboForex is a straightforward process. To begin, visit the official RoboForex website and navigate to the “Partnership” or “Affiliate Program” section. Look for the option to “Become a Partner” or a similar designation. Follow the on-screen instructions to complete the registration form, providing the necessary information.
What features are offered in the RoboForex Affiliate Program, and how can I maximize my earnings as an affiliate?
The RoboForex Affiliate Program provides various features to help affiliates maximize their earnings. Affiliates can access a range of marketing materials, including banners, landing pages, and tracking tools, to promote RoboForex effectively. The program often offers a tiered commission structure, allowing affiliates to earn higher commissions based on the trading volume generated by their referred clients.
Affiliate Program Features
RoboForex offers an advanced affiliate network with up to 84% commissions, quick partner commissions of up to 74%, and a loyalty program with commissions of up to 20%.
A potential partner’s commission may be quickly and easily calculated based on their customer count using the live calculator available on there website.
RoboForex’s income sharing structure is 50% for all professional accounts, up to 70% for Affiliate accounts, and 50% for R StocksTrader accounts. Among the many advantages of joining the RoboForex affiliate program are:
➡️ No restrictions on pay-outs.
➡️ No restrictions on the maximum pay-outs per month or referred client.
➡️ Daily payments are available.
➡️ No deal restrictions.
➡️ All trades are paid out.
➡️ There are no restrictions on bonuses tied to trading volumes.
➡️ There is 24/7 affiliate customer support.
➡️ Analytics are available to affiliates in addition to real-time client tracking. There are three different sorts of Affiliate accounts available.
The reward program at RoboForex also enables partners to improve their total profits by up to 20%. In addition, based on monthly performance, the program enables all partners to earn an extra percentage of the total commission paid.
Partners may earn 2.5x more on pro accounts and 70% on affiliate accounts in client account markup. In addition, affiliates that join the VIP or Expert programs could earn numerous commission levels.
Customer Support
RoboForex offers professional support in thirteen languages around the clock. Support is ready to answer your inquiries by online chat, phone, and email.
Additionally, there is a call-back service where you can leave your phone number, and they will call you promptly.
RoboForex offers exceptional and award-winning customer support. Support is often fast to respond, and it is great that they are also available on weekends, which is essential if you want to trade cryptocurrencies.
| Customer Support | RoboForex’s Customer Support |
| ⏰ Operating Hours | 24/7 |
| 🗣 Support Languages | English, Arabic, Chinese, Czech, Kazakh, Malay, Portuguese, Spanish, Taiwanese, Thai, Ukrainian, Uzbek, and Vietnamese |
| 🗯 Live Chat | Yes |
| 📧 Email Address | Yes |
| ☎️ Telephonic Support | Yes |
| 📞 Local Support in Botswana? | No |
| 🥇 Overall quality of RoboForex Support | 4.9/5 |
Corporate Social Responsibility
RoboMarkets Ltd feels it a moral obligation to contribute to initiatives that enhance the quality of life on our planet. Consequently, the company is committed to frequently supporting several charitable programs.
Our Verdict
RoboForex is a well-known broker that excels in the breadth and depth of its services. It provides over-the-counter derivatives trading to regular and professional traders and investment alternatives to individuals wishing to expand their portfolios.
RoboForex has been in business for over a decade and has established itself as a dependable partner with several advantages.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Botswanan traders can choose from a few trading accounts | RoboForex does not have a BWP-denominated account |
| There are powerful trading platforms offered across account types | Currency conversion fees may apply when Botswanans deposit in BWP |
| Botswanans have access to demo and Islamic accounts | There are no fixed spread accounts |
| There is dedicated customer support offered 24/7 | |
| RoboForex is a legit and trusted broker | |
| There is an ultra-low minimum deposit of 130 BWP / 10 USD. | |
| RoboForex applies negative balance protection to retail trading accounts | |
| There is a Cent Account offered for beginners and some educational material |
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Conclusion
Now it is your turn to participate:
➡️ Do you have any prior experience with RoboForex?
➡️ What was the determining factor in your decision to engage with RoboForex?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
➡️ Have you experienced any issues with RoboForex, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Frequently Asked Questions
Does RoboForex have Nasdaq?
RoboForex provides Nasdaq as “USTECH” under cash indices.
Is RoboForex safe or a scam?
RoboForex is a trustworthy broker with an award-winning history and several industry accolades.
Does RoboForex have Volatility 75?
RoboForex does not yet include VIX in its Cash Indices or CFDs offerings.
How do I trade with RoboForex?
Botswanans can start trading by selecting a currency pair that interests them from their trading platform.
Next, click “New Order” on the trading terminal’s panel and enter the order volume, Take Profit, and Stop Loss settings. Lastly, click “Buy” or “Sell” based on the order direction selected.
Is RoboForex regulated?
RoboForex is regulated by the International Financial Services Commission, the Tier-3 market regulator in Belize.
What is the withdrawal time with RoboForex?
RoboForex withdrawals take between one business day and ten business days, depending on the chosen payment method.
What is the minimum deposit for a RoboForex account?
The minimum deposit requirement for RoboForex is 10 USD / 130 BWP.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
