Is Roboforex Regulated And Safe To Trade With?
Benefits of a regulated broker
RoboForex has been in business since 2009. RoboForex has always been focused on offering the finest trading conditions possible. They do so by utilising innovative technology and many years of experience. RoboForex is an international broker with seven asset classes. They have over 12,000 trading products.
RoboForex is regulated by The Financial Services Commission in Belize. Belize is where RoboForex is situated. RoboForex's licence and regulatory number are listed at the bottom of its website. Its FSC licence number is 000138/210.
RoboForex Private Limited Regulation
FSC
RoboForex Ltd holds the FSC special brokerage licence 000138/333. It is for "Trading in financial and commodity-based derivative instruments and other securities." The regulator ensures that only the most trustworthy and socially responsible businesses are licenced to operate in Belize and worldwide.
As a financial market regulator, FSC certifies and controls market participants. While also ensuring its grantees' operations' efficiency, honesty, and transparency.
The Financial Commission
RoboForex Ltd is a member of The Financial Commission. The Financial Commission is an international organisation. It settles disputes between its members and their clients.
RoboForex Ltd is an "A" category member of The Commission's Compensation Fund. The Compensation Fund is a compulsory service part of Financial Commission membership. It protects up to €20,000 per case if a Member refuses to follow a Financial Commission judgement.
Since 2018, RoboForex Ltd has been subjected to a quality auditing review on the Verify My Trade service. This Financial Commission partner evaluates how brokers execute trade orders. The successful completion of this review confirms the broker's compliance with the Financial Commission's stringent standards for its members.
Is money secure at Roboforex?
Traders' payments to Roboforex accounts are stored in a separate bank account. For enhanced safety, Roboforex uses tier-1 banks for this purpose. Tier 1 is the standard metric for assessing a bank's financial health and strength.
A Tier 1 bank is the safest and most secure client capital. Tier 1 is a word used to describe a bank's financial strength. A Tier 1 bank often has high core capital reserves and can tolerate unexpected losses.
Any money you deposit with Roboforex is stored in a bank with enough capital to meet your withdrawal requests. This safeguards your deposits even if Roboforex goes out of business for some reason.
As a result, Roboforex is reasonably secure and safe.
However, please remember that trading in financial assets might result in capital loss. Accounts can lose money due to the following:
- a lack of effort in researching the markets
- a lack of experience
- a failure to use the tools given by the brokerage platform.
RoboForex Reliability & Security
The software used by a broker has a significant impact on its dependability and security. RoboForex trades with MetaTrader 4 and MetaTrader 5, which are industry standards. MT4 and MT5 are well-known platforms for being fast and feature-rich.
Who is a licensed broker?
Brokers registered with their nation's financial regulatory agency are regulated. As a result, they are forced to abide by the norms of that organisation. This increases their accountability and traceability. Brokers who are not governed by any regulations are free to behave in any way they like.
Risks Associated with Selecting Unregulated Forex Brokers
If you trade with an unregulated broker, you put all your money in danger. You cannot tell in advance how events will play out. You cannot assume from a few interactions that brokers do not have ulterior motives. So It is crucial to be protected from abuse and fraud. Unfortunately, this feature is not available while trading with an unlicensed broker. You are trusting your money and personal information on the promise of the broker's character alone. An unregulated broker has no obligation to abide by professional ethics and privacy standards. The likelihood of losing your money if the broker company fails is very high.
Benefits of a regulated broker
Governmental Authorities Regulate registered Brokers.
Brokers who are registered with the government are regulated. They must exhibit a specific calibre of performance and standard to be registered. So, you can rest easy knowing that a registered broker is among the best. Additionally, they are required to follow rules that prevent them from acting rashly.
Very High Security
It is customary to ensure the broker provides you with some form of security while your money is on the line. Regulated brokers are required to maintain that level of security and privacy. They must ensure that your money is kept in a separate account from the business's money also that a distinct trail is kept for each client to make it simpler for them to track their money. Additionally, traders can withdraw their money anytime without taking risks. The extremely volatile trading is a little bit easier due to this safety.
Exceptional Compliance with the Law
Broker firms must provide a list of their:
- personnel information
- information about their experience
- credentials
- expenditure to register with the country's financial agency.
Brokers must also adhere to client-friendly record-keeping and accounting procedures because of the rigorous regulations,
Easy to resolve issues
An unlicensed broker is difficult to reach in the event of a problem. At the same time, a licenced broker is required to keep a working customer service desk. They are also reachable through email. In general, your issues will be addressed and solved more quickly.
Roboforex Guide – Read our In-Depth Roboforex Review
Roboforex Rating: 7.85 / 10
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58.42% of retail investor accounts lose money when trading CFDs with this provider.