Introduction to RoboForex Review:
At this moment, there are more scammers in the market than you can ever imagine. As a result, every day hundreds of people are getting scammed in the financial market. Be it high leverage or a 100% bonus on the first trade, scammers stick to all kinds of tricks to lure in innocent victims.
Claiming to be founded in 2009, RoboForex states itself to be the best in the market with over 9000 tradable instruments for its customers. Although the company claims a lot about itself, there are a few red flags that we found concerning. If you are here with the intention of knowing whether RoboForex is a scam broker or a legitimate one, read this RoboForex review.
Founder: Not Disclosed
Regulation: Not Known
Minimum Deposit: $10
Demo Account: Yes
In this section of the roboforex.com review, we will be discussing all the red flags that we found out.
Is RoboForex regulated by any of the Regulatory Authorities?
Regulation is one of the most important segments of any broker review. If a brokerage firm is regulated by any of the regulations, then it means that the company is supervised by the regulation, and therefore, there is nothing to worry about. However, if a company is not regulated, then it is free to do whatever illegal activity it wills to. We request you not to trade with unregulated brokers. In our case, RoboForex does not state on their website that they are regulated by any regulation. Furthermore, we were not able to find any solid evidence of RoboForex is regulated or not. This gives us a red flag in this RoboForex review against the roboforex.com scam.
What is the leverage offered by RoboForex?
Leverage is yet another parameter used to find out whether a broker is a scam or not. Higher leverage results in more risk to the customers in trading. If a customer is provided with leverage higher than 1:50, there is a greater chance of the customer losing the trade. In our case, RoboForex provides their customers with leverage up to 1:2000 which is clearly a much higher number than the limit. This shows that RoboForex intentionally puts its customers at risk in order to earn more.
Who is the founder of RoboForex?
Another suspicious factor that was found against RoboForex is that RoboForex does not reveal the name of its founders or the team behind this brokerage firm anywhere. The founder and the team working behind a company are what make the company trustable. However, the decision of RoboForex to not disclose any of this crucial information makes it clear that RoboForex has something to hide.
Conclusion: Is RoboForex a scam?
To sum up, all that has been stated above, we leave it upon you to decide whether RoboForex is a scam or not. We would advise our readers to stay away from unregulated brokerage firms. If you have been scammed by RoboForex, just file a complaint with us by filling the form above and we will help you out.
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