You are reading our comprehensive RoboForex review because you are interested on it. Good thing you have decided to read our review so you will not get victimized by this scam. We have made our own investigation about this company and we have found out that it was developed not to help people but to steal their money. This RoboForex.com review includes the following aspects how it operates, its main features, where it is regulated and the user feedback.
Before you make further action, we suggest you read this RoboForex review first. We have found out that upon checking roboforex.com website, we notice that they are lying on many things. There are alternative legit websites to trade with. Make sure you do some research before you sign up with any trading software and understand all the risks involved with online buy and sell.
For those who are not familiar with forex here is some information about it. Forex is the trading of currencies on the on the international exchange market. You buy a specific currency and then sell them if you think it has increased or decreased in value. This is done to make a profit. The size differs in amount for each lot size. Let’s check out how RoboForex works. It is a regulated forex broker that has been operating since 2006. Their office address is at Cyprus. They are focusing on trading currencies, CDF and metals. They have different type of assets to leverage and fully integrated scheme that can handle Meta Trader 4, Meta Trader 5, and cTrader. The primary features of RoboForex are the RAMM and CopyFX options.
The CopyFX is the same with “copy trader” option with other softwares. But, it’s not only interactive or social. The RAMM feature is unique but involves a lot of problem. Please continue reading this Robo Forex review to find out why. CopyFX is the best and the same time the worst feature that RoboForex offers. If one chooses the CopyFX you have the option to copy the trades of successful traders. If you succeed, you can let others to copy you as well. As you continue trading, your statistics will be made available to other members to show how good you are so others can copy it. This feature is very transparent.
RoboForex is Scam – Three Evidences
This RoboForex review will reveal the lies and wrong information it provides to traders in order to trick and attract them to sign up. The system has time of success and some down times. RoboForex.com offer several very successful traders and was able to profit and get around 75% to 80% returns. Unfortunately, there are negative reviews about Robo Forex for the past 6 to 9 months and the reasons are enumerated below.
First Evidence – Projected Margin is not Accurate
Although it may look like an attractive feature, we are having second thoughts to get behind it. The main complaints we have heard about is that the projected margins in RoboForex are not accurate with the real time results. In the above image, all the top 5 strategies are showing substantial gains. But, upon checking with other members who are presently trading and they reported that many of these projections are not at all reflected on their account.
If you have plans of using this feature, make sure that you monitor your account for an unexpected changes in the trade direction. Not because you are mimicking a strategy, it means one is copying a real human with the capability to reason. We suggest you copy a trader not the strategy. You can also choose to copy a trader and a strategy at the same time, but make sure that you monitor your account. Some members lost their account with RAMM.
Second Evidence – Issues Concerning Withdrawals
There are lots of complaints in the web about platform freezes, slippages and different issues for people who make a profit. For those who are just break even or losing things are okay. But when you start earning again problems start to appear. Some said that you need to pay a fee to withdraw your money before reaching a trading volume which was indicated on RoboForex terms and condition.
RoboForex did not approve a $5 withdrawal because they are asking the trader why did he open an account but did not trade. Aside from these some issues concerning withdrawals were reported. If withdrawing $5 is a big issue for them what’s more if the trader is withdrawing a bigger amount. If this is the case then you should not invest on it at all.
Third Evidence – Scam Accounts
The trading processes of the different currencies are quite complicated. The actual buying and selling make use of USD, EUR, RUB, CNY and not really currency – Gold. The collection of currencies is very restricted. The maximum leverage is on 1:1000 which is good but it involves an enormous risk. During our RoboForex review we discovered that the total number of assets you can trade is 34 currency pairs, silver and gold. Even if ECN accounts tend to offer the ideal trading conditions, this is impossible with Robo Forex.
Our Robo Forex review has noticed that the trading process is unclear and not transparent and the order of execution is not as fast as it should be. There are lots of things that are not clear with RoboForex which makes us suspect that RoboForex is scam.
RoboForex Review Conclusion
This review proves that RoboForex is a scam and people should avoid it. It may have been in the trading industry for a long time but still it was not able to prove its legitimacy. The system looks complicated and not recommended for first traders. How it works is not at well that clear. Mimicking the strategy is not at all that effective in generating profit.
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