RoboForex Review, User Reviews In 2017 Reporting Scam!

You are reading our complete RoboForex review. This investigation has examined all aspects of RoboForex, including how it operates in 2017, where it is regulated, all of the main features, and most importantly the user feedback!

If you are thinking of joining this forex broker, please read this review first. We do NOT recommend signing up. There are many serious downfalls of RoboForex, as our scam review will show. There are far better alternatives to trade with, as we will show below. Please do your research before signing up with any trading system and understand all of the risks associated with online trading.

Please send us any questions you might have as well as requests for a review you’d like to see!

Announcement: If you have lost a large sum of money with RoboForex, please contact us for advice on how to reclaim your money. We are documenting all of the adverse experiences so we can help others, so please let us know how your account has gone!

Let’s get started!

Official Website: http://www.roboforex.com/

RoboForex Review

RoboForex Review: What is Forex Trading?

For those of you unfamiliar with forex trading, here is a clear and concise definition.

Forex trading is the buying and selling of currencies on the international exchange market. You purchase lots (amount of a particular currency) and then sell that lot when you believe it has increased or decreased in value. This is done with the goal of making a profit. Each “lot” is a micro mini amount of currency. There are different amounts for each lot size.

We have reviewed several forex brokers over the past year. The best forex broker remains Tradeo. Please remember that all trading carries a high level of risk and you should never invest more money than you can safely afford to lose.

Let’s take a deeper look into RoboForex.

RoboForex is a regulated forex broker that has been operating since late 2006. They are located an operating out of Cyprus. They specialize in the buying and selling of currencies, metals and CDF. They have a wide variety of assets to leverage as well as a fully integrated platform that can manage Meta Trader 4, Meta Trader 5, and cTrader. (These are charts that show you the levity of the market and can be used when studying strategies and market conditions.)

The main features of RoboForex are the CopyFx and RAMM RoboForex options. We go into more detail about each of these below!

The CopyFX option is almost identical to the “copy trader” option with Tradeo. However, it is not as social or interactive. We believe that having the ability to chat and ask your trader questions is what makes Tradeo the better option! There are pros and cons with each forex broker, but as you’ll see below, there are far more cons when it comes to RoboForex.

The RAMM feature is unique but highly problematic. Please keep reading to see why!

What is CopyFx?

CopyFx is the best and worst feature that RoboForex offers. As a member of CopyFx, you have the option of copying the trades of highly successful traders. You can also allow others to copy you. As time progresses, your trading statistics will show the other members how good of a trader you are and your win/loss rate. It is important to understand that this feature is very transparent.

If you are losing a lot of trades or have a low percentage of wins, this will reflect on your trading profile and others will not follow you. This is a great feature which helps protect other members. However, if you are good at trading, you can end up with quite a large following of RoboForex members who are copying your trades automatically!

RoboForex Scam Broker

Obviously, the most used portion of CopyFx is to follow other traders. The majority of RoboForex members are simply copying the trades of other forex traders. This means that the success of this forex broker largely relies on what traders they have to offer you as the investor. We do not personally trade with RoboForex, but we have been investigating their platform and options for quite a while. We have also been speaking to several of our readers that traded and copied other traders.

This is what we’ve determined…

RoboForex has had periods of great success as well as down times. During their upswings, they offered many highly successful traders that were profiting their members upwards of 75%-80% returns. This time was more or less towards the start of when RoboForex first launched. In the past year, they have been going through a downward trend. Many of their successful traders left to join other brokers instead.

Sadly, the vast majority of comments we have surveyed have been negative over the past 6-9 months. The issues we have seen are:

– Poor customer support.

– Long wait times for withdrawals.

– Malfunctioning copy settings – trades being copied even after it was turned off.

– A small selection of successful traders.

– No social trading forum feature.

Our opinion is that CopyFX has a lot of great ideas but nothing that makes it stand out amongst other forex brokers. The lack of good traders to copy combined with the incredibly disparaging and negative feedback means that we will not be joining nor supporting the CopyFX feature of RoboForex.

What is the RAMM Account with RoboForex?

Another option you have as a trader or investor is to open an account with RAMM. The “risk allocation management model” or RAMM is a unique feature of RoboForex.

As a RAMM member, you will be able to copy traders AND copy strategies at the same time. Mostly your account will copy successful strategies that are offered by RoboForex. You will have access to several strategies. Below you can see an example of some of them, such as the Stairway to Heaven and Real Trade. These have been developed by traders and are given to you as a way to help you grow your account while learning forex.

roboforex-ramm-strategies

You have the option of having dual accounts or combining them by copying a trader and using a strategy at the same time. The choice is yours.

While this may seem like a pretty nifty feature, we hesitate to get behind it. The largest complaint we have heard so far is that some of the projected margins are not accurate with the results in real time. As you can see from the photo above, all of the top 5 strategies are projecting substantial gains.

However, we spoke with several members who are currently trading, and they reported that many of these projections just don’t reflect what they see happening on their account.

If you chose to use this feature, BEWARE… you must monitor your account for a sudden and drastic changes in the direction of your trade. Just because you are copying a strategy, that does not mean you are copying a real human with the ability to reason. This is why we prefer copying a trader instead of a strategy.

You can choose to copy a strategy and a trader at the same time, but careful monitoring of your account is still recommended. We have seen and heard from too many people that lost their entire account with the RAMM.

The Best Forex Option?

We have been working in forex for several years now. It’s no secret that we think it is the BEST way to trade online. There are just a few important points we must make known.

1. Always chose a regulated forex broker.

2. Never invest more money than you can afford to lose.

3. Choose a platform that has a high level of transparency and accurate trading statistics.

4. Use a safe way to fund your account in case there is any problem, such as a bank account or credit card with bank protection!

5. Even when copying a trader, don’t forget to keep tabs on your account as often as you can.

So what is the best forex broker?

We highly recommend Social Trading with Tradeo. It has so many features and trading options that RoboForexl just can’t compare with. Tradeo is the gold standard of forex.

Is RoboForex a Scam?

There are two types of trading misfortunes. For us to categorize something as a scam, we must know for sure that the system is designed to make you fail and lose your money.

We do NOT believe that RoboForex is a scam. However….

RoboForex just does not work that well. It has massive amounts of negative user feedback and very little positive. We have chosen to blacklist this forex broker.

Trade wisely and take care! Thank you for reading our RoboForex Review.

Summary
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Reviewed Item
RoboForex
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