RatingFX: independent rating of Forex brokersRoboForex – greatest deceiver or victim of misjudgment?RoboForex is a well-known forex broker with rich trading experience. Notably, this is a licensed and regulated broker. It has been operating for more than ten years. The company has more than 2.5 million registered trading accounts. Its clients are given access to more than 11,700 trading instruments. The broker offers five types of trading accounts and several ways to deposit and withdraw funds. If you look at the company’s name, you can see that the first part of its name is Robo. This is not just a random word. The company is very proud of its forex trading robot system. What is more, the broker considers itself one of the best provider of EAs service. Judging by this description, everything seems very decent. What is wrong with the company? Why are there so many negative reviews from traders on the network? Let’s have a closer look at its website. RoboForex attracts potential customers with lucrative offers and bonuses. In addition, the broker can boast of a well-developed website and favorable conditions for investors. Professionals, as well as novice traders, are sure to find a proper trading instrument. The broker also does not require a particular amount of money for the initial deposit. Traders are allowed to open an account in the yuan, the US dollars, the rubles, and the euros. RoboForex provides access to the MT4 platform and user-friendly applications for smartphones, etc. The broker is regulated by the International Financial Services Commission (IFSC). Moreover, the company has been awarded several times. The "about us" section does not look dubious too. This is why when you come across so many negative comments about the company on the Internet, you are simply puzzled. The broker has gained a bad reputation among traders who once worked with it. Clients mostly complain about problems with the funds withdrawal.
28.05.2019
George, 30.04.2020
Terje, 29.04.2020
Andrew, 22.03.2020 These negative reviews are just a drop in the ocean. Other traders mention plenty of different tricks at the disposal of the broker to hoodwink gullible investors. RoboForex is often called a scammer because of accusations of faking quotes. For instance, the broker drained deposits of most of its clients on April 20, 2020 when oil prices plunged to historic lows.
NIK95, 07.05.2020
Igor, 22.04.2020
Anna, 21.04.2020 You can also find rather negative comments about this broker on different forum pages. A lot of traders remain disappointed with RoboForex and they do not recommend this broker for trading. Apart from deposit/withdrawal procedures, many clients complain about the contests.
Galina, 27.03.2020
Semyon, 28.04.2020 There are also many complaints from people claiming that the broker cheats clients who have cut their teeth on trading. The broker manipulates with swaps and the client’s deposit goes into minus. A lot of traders have been cheated by a da Vinci robot.
Vladislav, 7.03.2020
Farid, 5.04.2020 The question is how to choose a reliable broker if there are so many pitfalls and even a seemingly reputable broker can turn out to be a scammer? You should not blindly trust reviews as some of them may be fabricated by competitors. Moreover, some accusations are likely to be groundless as they are based on emotions and misunderstandings of the situation. While comparing positive and negative reviews, pay attention to negative ones but only with constructive criticism. Traders rarely leave positive comments as they take a smooth trading with a broker for granted, and only few of them may write a flattering review. When it comes to negative experience, traders are more likely to share it with others with the aim of warning and seeking justice, e.g. to return money. Nevertheless, do not be baited by promises of quick and large profit. The proverb says, "There is no such thing as a free lunch" and the same is with trading. Without making an effort, you cannot earn money. Only after obtaining experience and knowledge, you will be able to significantly increase your profit. The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
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I expected to have a trading bot that would assist me with my trading activities, as the broker promised. But after opening an account and depositing the money, no bot was ever given to me. Also, the company never answered any of my messages. Until my account was just completely closed down by the broker.
I connected my credit card to my account at RoboForex to easily transfer funds. I never thought that it would be the broker's way to easily gain access to my own money. The broker charged my account with huge amount but it was never reflected on my trading account. Then, later on, the broker closed my trading account.
When I had an account at RoboForex, the company gave me a trading bot. However, it never worked. It did not make any recommendations nor showed me market analyses. What's even worse is that I was not able to retrieve any of my money anymore.
In my case, I never received anything. I waited and waited for the trading bot but nothing came. I kept asking the customer service already but they are not answering clearly. Until I just saw could not access my account anymore and the company never communicated with me again.
I was given a trading bot when I opened an account at RoboForex. However, it never did anything. I already tried everything but it really did not make any trades or even give any recommendation. In the end, my account was closed and I never got anything.
The trading bot that RoboForex promises is non existent. I kept waiting for it but it was never given to me. The broker already terminated my account yet I still haven't used a single bot. Obviously, it was only a ploy to attract clients.
RoboForex is only using their offered trading bot to make you invest with them. But this bot never helped me in any of my trading activities. If it did something, that was to recommend a terrible trading action. This company is nothing but a fraud so don't get fooled.
That's true. RoboForex does not provide a real trading bot. I don't know what the software they gave me was, but it definitely did not contribute anything to my account. My account only lasted for a month and it was terminated by the broker, taking all the money I deposited.
There is no Forex robot at RoboForex. The company falsely advertised their company which resulted to a surge in the number of investors. Unfortunately, we were all robbed by the owners of this company. After depositing our money, the company never responded to our inquiries again.
I opened an account at RoboForex because they promised that they would be providing a trading bot. However, I was waiting for weeks already yet no bot had been offered to me. Not only that, when I tried to withdraw my investment, the broker only terminated my account and never returned anything to me.
Do not get fooled by brokers who offer trading bots like RoboForex. Most likely, the company is only trying to lure in clients who will invest huge amounts. This is what RoboForex did and when I deposited my money, they immediately terminated my account.
Right. Bots are often purchased separately and most of them don't really work properly. The fact that RoboForex claimed to have their own trading bot that should help their clients is already suspicious. I am glad I never got fooled by their tricks. But I also can't blame those who have been fooled because the offer is really tempting.
While trading at RoboForex, I experienced a lot of slippages and drastic changes in the trading fees. It was a terrible experience so I decided to close my account and demanded to take the remaining funds I had. However, the broker did not release my money.
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