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RoboForex Review

Overall, RoboForex can be summarised 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.

Updated : October 17, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

RoboForex Overview

RoboForex Review 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.

 

RoboForex Distribution of Traders

RoboForex Review Distribution of Traders

👉 RoboForex currently has the largest market share in these countries:

➡️ Russian Federation – 20.6%

➡️ Brazil – 4.8%

➡️ Iran – 4.7%

➡️ Ukraine – 3.9%

➡️ Malaysia – 3.8%

 

Popularity among traders who choose RoboForex

👉 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

🏛 HeadquarteredBelize
🌎 Global OfficesBelize 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 Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded2009
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• YouTube
• Instagram
⚖️ RegulationInternational Financial Services Commission (IFSC)
1️⃣ Tier-1 LicensesNone
2️⃣ Tier-2 LicensesNone
3️⃣ Tier-3 LicensesInternational Financial Services Commission (IFSC)
🪪 License Number000138/210 and registration no. 128.572
⚖️ MFED, BoB, or NBFIRA RegulationYes
✔️ Regional RestrictionsYes
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts5
✔️ PAMM AccountsYes
💻 Liquidity Providers8 Liquidity Providers
✔️ Affiliate ProgramYes
📱 Order ExecutionMarket
📊 Starting spreadFrom 0.0 pips
📉 Minimum Commission per Trade10 USD per million traded
💰 Decimal PricingUp to 5 digits after the comma
📞 Margin Call40% to 60%
🛑 Stop-Out10% to 40%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size500 lots
✅ Crypto trading offered?No
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:2000
📊 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 Stats250,000+
👥 Active Botswana-based RoboForex customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, 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 TimeInstant
⏰ Maximum Estimated Withdrawal TimeUp 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 SpreadNo
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, Polish, Indonesian, Malayan, Portuguese, Spanish, Italian, Czech, Simplified Chinese, Vietnamese, and more
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/7
📞 Botswana-based customer support?Yes
💸 Bonuses and Promotions for Botswanans?Yes
📚 Education for Botswana beginner tradersYes
📱 Proprietary trading softwareYes
🤝 Most Successful Trader in BotswanaCurrently unknown
✔️ Is RoboForex a safe broker for Botswana Traders?Yes
🎖 Rating for RoboForex Botswana9/10
🥇 Trust score for RoboForex Botswana88%
👉 Open Account👉 Open Account

RoboForex Regulation and Safety of Funds

RoboForex Review Regulation And Safety

RoboForex 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 RoboForex is 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.

 

RoboForex Global Regulations

👉 RoboForex Ltd has been granted a license by Belize’s International Financial Services Commission (IFSC) under license number 000138/210.

 

RoboForex Client Fund Security and Safety Features

👉 RoboForex 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 by RoboForex.

RoboForex 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 (2022), awarded by International Business Magazine.

➡️ The World’s Most Transparent Broker (2022), presented at the World Economic Magazine Awards.

➡️ Best Global Stock Broker (2022), 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.

RoboForex Account Types and Features

RoboForex Review Account Types

👉 RoboForex 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
Prime130 BWP/10 USD0.0 pips10 USD per million traded3 USD
ECN130 BWP/10 USD0.0 pips20 USD per million traded5 USD
R StocksTrader1,300 BWP or 100 USD0.0 pipsFrom $0.0091 USD
ProCent130 BWP/10 USD1.3 pipsNone13 USD
Pro130 BWP/10 USD1.3 pipsNone13 USD

 

RoboForex Live Trading Account Details

Prime Account

RoboForex Review 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 FeatureValue
💻 Trading Platforms available• MetaTrader 4
• MetaTrader 5
• R StocksTrader
• R MobileTrader
📉 Base Currency OptionsUSD, EUR, GOLD
📈 Minimum Deposit Requirement130 BWP or equivalent to either 10 USD or EUR
💵 CommissionYes, $10 per million traded
📊 SpreadsFloating from 0.0 pips EUR/USD
📱 Trade ExecutionMarket
💸 Tradable Instruments28 Forex Pairs, Spot Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies
💰 Maximum Leverage Ratio1:300
📉 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume500 lots
🛑 Stop-Out100%
✔️ Bonuses OfferedNo profit share or classic deposit bonus
💵 Free Fund WithdrawalYes
☪️ Islamic Account OptionNo
✔️ One-Click Trading SupportedYes
💰 Trading Account History Time Frame12 Months

 

ECN Account

RoboForex Review ECN Account

👉 Opening an Electronic Communications Network (ECN) account is viable for seasoned traders seeking the fastest order execution and optimal trading circumstances.

Account FeatureValue
💻 Trading Platforms available• MetaTrader 4
• MetaTrader 5
• R StocksTrader
• R MobileTrader
📉 Base Currency OptionsUSD, EUR, CNY, GOLD
📈 Minimum Deposit Requirement130 BWP or equivalent to either 10 USD or EUR
💵 CommissionYes, $10 per million traded
📊 SpreadsVariable spread from 0.0 pips EUR/USD
📱 Trade ExecutionMarket
💸 Tradable Instruments36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies
💰 Maximum Leverage Ratio1:500
📉 Minimum Trade Volume0.01 lots
📈 Maximum Trade Volume500 lots
🛑 Stop-Out40%
✔️ Bonuses OfferedUp to 15% of RoboForex’s revenue
💵 Free Fund WithdrawalYes
☪️ Islamic Account OptionNo
✔️ One-Click Trading SupportedYes
💰 Trading Account History Time Frame12 Months

 

R StocksTrader Account

RoboForex Review R Stocks Trader 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 FeatureValue
💻 Trading Platforms availableR StocksTrader
📉 Base Currency OptionsUSD, EUR
📈 Minimum Deposit Requirement1,300 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 ExecutionOver 12,000 instruments across Indices, Individual Stocks, Stock CFDs, Forex, ETFs, Oil CFDs, Metal CFDs, Brazil Stock CFDs, Crypto
💸 Tradable Instruments36 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 Volume0.01 lots
📈 Maximum Trade VolumeNone
🛑 Stop-Out20%
✔️ Bonuses OfferedUp to 15% of RoboForex’s revenue
💵 Free Fund WithdrawalYes
☪️ Islamic Account OptionNo
✔️ One-Click Trading SupportedYes
💰 Trading Account History Time FrameNone

 

ProCent Account

RoboForex Review R Stocks Trader 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 offered by RoboForex.

Account FeatureValue
💻 Trading Platforms available• MetaTrader 4
• MetaTrader 5
• R StocksTrader
📉 Base Currency OptionsUSD, EUR, CNY, GOLD
📈 Minimum Deposit Requirement130 BWP or equivalent to either 10 USD or EUR
💵 CommissionNone
📊 SpreadsMarket
📱 Trade Execution36 Forex Pairs, Precious Metals, Cryptocurrencies
💸 Tradable Instruments36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies
💰 Maximum Leverage Ratio1:200
📉 Minimum Trade VolumeUp to 1.5% of RoboForex’s revenue
📈 Maximum Trade Volume10,000 cent lots
🛑 Stop-Out10%
✔️ Bonuses OfferedYes, Profit Share (60%), Classic Deposit (120%)
💵 Free Fund WithdrawalYes
☪️ Islamic Account OptionNo
✔️ One-Click Trading SupportedYes
💰 Trading Account History Time Frame1 year

 

Pro Account

RoboForex Review Pro Account

👉 The RoboForex 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 FeatureValue
💻 Trading Platforms available• MetaTrader 4
• MetaTrader 5
• R StocksTrader
• R MobileTrader
📉 Base Currency OptionsUSD, EUR, CNY, GOLD
📈 Minimum Deposit Requirement130 BWP or equivalent to either 10 USD or EUR
💵 CommissionNone
📊 SpreadsMarket
📱 Trade ExecutionVariable spread from 1.3 pips EUR/USD
💸 Tradable InstrumentsMarket
💰 Maximum Leverage Ratio1:200
📉 Minimum Trade VolumeUp to 1.5% of RoboForex’s revenue
📈 Maximum Trade Volume500 lots
🛑 Stop-Out20%
✔️ Bonuses OfferedYes, Profit Share (60%), Classic Deposit (120%)
💵 Free Fund WithdrawalYes
☪️ Islamic Account OptionYes
✔️ One-Click Trading SupportedYes
💰 Trading Account History Time Frame1 year

 

RoboForex 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.

 

RoboForex Demo Account

RoboForex Review Demo Accounta

👉 RoboForex 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.

 

RoboForex Islamic Account

RoboForex Review Islamic Account

👉 RoboForex 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.

How to open an Account with RoboForex in Botswana

RoboForex Review Account Registration

➡️ Traders interested in opening an account with RoboForex may click the “Open an Account” banner on the site’s main page.

➡️ Traders will be sent to a website with an electronic application form. They must provide their name, email address, bank account details, job history, and other information that RoboForex may need.

➡️ Traders then pick their favourite trading platform, leverage, account base currency, and password.

➡️ Traders must then provide documentation verifying their identity and address as part of the Know Your Customer (KYC) procedure.

➡️ Users who verify their accounts are eligible for a “Welcome bonus,” as well as monthly pay-outs of up to 10% of their account balances, entry into a “Cashback (Rebates)” program, and the ability to earn free VPS services.

➡️ Traders may begin trading when they have deposited cash into their accounts and verified their application and accompanying documentation. However, traders should review the risk disclosure, customer agreement, and general terms of business first.

RoboForex Vs IC Markets Vs FBS – Broker Comparison

🥇 XM🥈 Exness🥉 Tickmill
⚖️ RegulationIFSCASIC, CySEC, FSA, SCBIFSC, 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 FeeYesNoYes
📊 Demo AccountYesYesYes
📈 Minimum Deposit130 BWP2,600 BWP13 BWP
📊 Leverage1:20001:500Up to 1:3000
📊 SpreadFrom 1 pipVariable, from 0.0 pipsVariable, from 0.0 pips
💰 Commissions$10 per million tradedFrom $3 to $3.5From $6
✴️ Margin Call/Stop-Out• Margin: 40% – 60%
• Stop-out: 10% – 40%
100%/50%40%/ 20%
💻 Order ExecutionMarketMarketMarket
💳 No-Deposit BonusYesNoYes
📊 Cent AccountsNoNoYes
📈 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 RegulationNoNoNo
💳 BWP DepositsYesNoYes
📊 Botswana Pula AccountNoNoNo
👥 Customer Service Hours24/724/724/7
📊 Retail Investor Accounts536
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size500 lotsUnlimited500 lots
💰 Minimum Withdrawal TimeUp to 1 working dayInstant15 to 20 minutes (maximum 48 hours)
📊 Maximum Estimated Withdrawal TimeUp to 10 working daysUp to 14 business daysUp to 7 days
💸 Instant Deposits and Instant Withdrawals?NoYes, on PayPal, Neteller, and SkrillInstant Deposits

RoboForex Trading Platforms

RoboForex Review Trading Platforms

👉 RoboForex offers Botswanan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

➡️ R StocksTrader

➡️ R MobileTrader

 

Desktop Platforms

RoboForex Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

 

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.

 

WebTrader Platforms

RoboForex Review WebTrader Platform

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

➡️ R StocksTrader

 

MetaTrader 4

👉 MetaTrader 4, a popular trading platform, is now accessible in a web-based version that works with any modern web browser. Like RoboForex’s desktop version, the MT4 online terminal has all the features and performance of the desktop version.

👉 With a stable Internet connection, traders in Botswana may access the WebTrader from any device, just as they do with the mobile app.

 

MetaTrader 5

👉 The MetaTrader 5 online terminal from MetaQuotes allows traders in Botswana to do their business from any device with an internet connection and a web browser.

👉 Botswana traders can monitor their holdings and react swiftly to market conditions with the help of the online trading interface.

👉 Traders in Botswana may use the web-based MetaTrader 5 platforms with nothing more than an internet connection, a web browser, and a funded and verified trading account with RoboForex.

 

cTrader

👉 Traders who prefer web interfaces over “traditional” software have a fantastic option in cTrader’s web-based terminal due to its portability and autonomy. Some advantages of utilizing cTrader via a web browser are as follows.

👉 You can use any online browser to access cTrader, making it the greatest option for Mac users. In addition, customizing your trading experience to your liking is as easy as creating a cTrader ID.

 

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.

 

Trading App

RoboForex Review Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

➡️ R MobileTrader

 

MetaTrader 4

👉 Trading on the go has never been easier than with the MetaTrader 4 mobile app. Specially adapted for iOS and Android devices, this mobile terminal offers traders an experience comparable to, if not identical, that of the desktop terminal.

 

MetaTrader 5

👉 MetaTrader 5, a popular trading platform, is compatible with iOS and Android mobile devices.

 

👉 The program provides traders with everything they need to participate successfully in the dynamic and competitive financial markets, including Market Depth, 30 technical indicators, and 24 analytical tools.

 

cTrader

👉 The full capabilities of the cTrader interface are now available on mobile devices running iOS or Android, including:

➡️ A user-friendly interface

➡️ Multilingual support

➡️ Straightforward charting options

➡️ The ability to set push notifications

 

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.

RoboForex Range of Markets

RoboForex Review Range of Markets

👉 Botswanan traders can expect the following range of markets from RoboForex:

➡️ Forex

➡️ Stocks

➡️ Indices

➡️ ETFs

➡️ Commodities

➡️ Metals

➡️ Energy Commodities

➡️ Cryptocurrencies

 

Financial Instruments and Leverage offered by RoboForex

🔨 Instrument💰 Number of Assets Offered📈 Max Leverage Offered
➡️ Forex401:2000
➡️ Precious Metals21:1000
➡️ ETFs1,0001:20
➡️ Indices51:100
➡️ Stocks12,0001:20
➡️ Commodities261:50
➡️ Energies1001:20

Broker Comparison for Range of Markets

RoboForexIC MarketsFBS
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsYesNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesNoYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

RoboForex Trading and Non-Trading Fees

Spreads

RoboForex Review Spreads

👉 RoboForex’s 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

RoboForex Review 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

RoboForex Review Overnight Fees

👉 RoboForex’s 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

RoboForex Review 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 with RoboForex is inactive, no costs are incurred.

 

Currency Conversion Fees

RoboForex Review Other 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.

RoboForex Deposits and Withdrawals

RoboForex Review Deposits And Withdrawals

👉 RoboForex 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 TimeUp to 1 working dayInstant15 to 20 minutes (maximum 48 hours)
Maximum Estimated Withdrawal TimeUp to 10 Working DaysUp to 14 business daysUp to 7 days
Instant Deposits and Instant Withdrawals?NoYes, on PayPal, Neteller, and SkrillInstant 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 PaymentsUSD, BRLUp to 1 day10,000 USD
BoletoUSD, BRLUp to 1 day10,000 USD
Santander RioUSDUp to 1 day10,000 USD
BancolombiaUSDUp to 1 day10,000 USD
PSEUSDUp to 1 day10,000 USD
China UnionPayUSDUp to 1 day50,000 CNY
Banco Do BrazilUSDUp to 1 day10,000 USD
BradescoUSDUp to 1 day10,000 USD
ITAUUSDUp to 1 day500 USD
WebpayUSDUp to 1 day10,000 USD
SpeiUSDUp to 1 day3,000 USD
ThunderX (QR-Code)THB, LAK, MMK, KHRUp to 3 daysUp to 1 day500,000 THB530 THB500,000 THB
Shop2Pay (QR-Code)THBUp to 3 daysUp to 1 day2,000,000 THB350 THB500,000 THB
EximbankVNDUp to 3 days99,999,999 VND
TPBankVNDUp to 1 day99,999,999 VND
AgribankVNDUp to 1 day99,999,999 VND
Maritime BankVNDUp to 1 day99,999,999 VND
Asia Commercial BankVNDUp to 1 day99,999,999 VND
BIDVVNDUp to 1 day99,999,999 VND
VIBVNDUp to 1 day99,999,999 VND
TechcombankVNDUp to 1 day99,999,999 VND
VietinBankVNDUp to 1 day99,999,999 VND
VietcombankVNDUp to 1 day99,999,999 VND
TED/DOCBRLUp to 1 day500,000 BRL
Bank Transfer (SEPA)EURUp to 1 dayUp to 3 days100,000 EUR500 EUR49,990 EUR
Local Bank TransferMYRUp to 1 dayUp to 1 day20,000 MYR60 MYR50,000 MYR
AstroPayAED, AUD, BRL, CLP, CNY, EUR, GBP, IDR, INR, JPY, MXN, MYR, NGN, THB, USD, VNDUp to 1 dayUp to 1 day10,000 USD10 USD10,000 USD
SkrillUSD, EURUp to 1 dayUp to 1 day25,000 USD1 USD100,000 USD
NetellerUSD, EUR, MYR, IDR, AED, PLNUp to 1 dayUp to 1 day50,000 USD5 USD100,000 USD
Perfect MoneyUSD, EURUp to 1 dayUp to 1 day25,000 USDFrom 0.1 USD
AdvCashUSD, EUR, UAH, BRL, GBP, KZTUp to 1 dayUp to 1 day49,999 USD0.1 USD49,999 USD
Nganluong WalletVNDUp to 1 dayUp to 1 day100,000,000 VNDNoneNone
China UnionPay Bank CardCNYUp to 1 day100,000 CNY
VISA, MasterCard, JCBUSD, EUR, CHF, GBP, PLN, CZK, UAH, CNY, MYR, KZTUp to 1 dayUp to 10 days10,000 USD
Cash and VouchersUSDUp to 1 day500 USD
Western UnionUSDUp to 1 day500 USD

How to Deposit Funds with RoboForex

RoboForex Review How to Deposit Funds with RoboForex

👉 To deposit funds to an account with RoboForex, Kenyan traders can follow these steps:

➡️ Navigate to the Members area and select the “Deposit Funds” option.

➡️ Choose the trading account that will be funded by using the dropdown list.

➡️ Select a preferred payment method.

➡️ Select whether to deposit funds, receive a bonus, and provide the percentage. Alternatively, continue without selecting this option.

➡️ Specify the deposit amount and the deposit currency.

➡️ Select “Deposit Funds.”

How to Withdraw Funds with RoboForex

RoboForex Review How to Withdraw Funds with RoboForex

👉 To withdraw funds from an account with RoboForex, Kenyan traders can follow these steps:

➡️ RoboForex account holders must first verify and authorize their account before attempting to withdraw cash

➡️ RoboForex members may access the “Withdraw Funds” section by logging into their accounts

➡️ 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).

RoboForex Education and Research

Education

👉 RoboForex 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 CalendarYesYesYes
➡️ VPSYesYesYes
➡️ AutoChartistYesYesNo
➡️ Trading ViewNoNoNo
➡️ Trading CentralYesYesYes
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes

 

👉 RoboForex 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

RoboForex Bonuses and Promotions

RoboForex Review Bonuses And Promotions

👉 RoboForex offers Botswanan traders the following bonuses and promotions:

➡️ Promotion to the value of $1.1 million to celebrate 11 years of RoboForex

➡️ Welcome Bonus

➡️ Profit Share Bonus

➡️ Classic Bonus

➡️ Cashback (rebates)

➡️ Up to 10% back on trading accounts

How to open an Affiliate Account with RoboForex

RoboForex Review Affiliate Program

👉 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.

RoboForex 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 RoboForex’s 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.

RoboForex 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 SupportRoboForex’s Customer Support
⏰ Operating Hours24/7
🗣 Support LanguagesEnglish, Arabic, Chinese, Czech, Kazakh, Malay, Portuguese, Spanish, Taiwanese, Thai, Ukrainian, Uzbek, and Vietnamese
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of RoboForex Support4.9/5

RoboForex 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 on RoboForex

👉 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.

RoboForex Pros and Cons

✔️ Pros❌ Cons
Botswanan traders can choose from a few trading accountsRoboForex does not have a BWP-denominated account
There are powerful trading platforms offered across account typesCurrency conversion fees may apply when Botswanans deposit in BWP
Botswanans have access to demo and Islamic accountsThere 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

FAQ

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.

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.

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.

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