Scam Forex Brokers in Namibia
Roboforex Review
Overall, RoboForex is considered low-risk, with an overall Trust Score of 88 out of 100. RoboForex is licensed by zero Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). RoboForex is currently not regulated by the bank of Namibia
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
10 USD / 186 NAD
Regulators
FSC
Trading Desk
MT4, MT5, MobileTrader, StockTrader, WebTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex Review – 25 key points quick overview:
RoboForex Overview- RoboForex At a Glance
- RoboForex Regulation and Safety of Funds
- RoboForex Awards and Recognition
- RoboForex Account Types and Features
- How to open an Account with RoboForex in Namibia
- RoboForex VS OANDA VS FXTM- Broker Comparison
- RoboForex Trading Platforms
- RoboForex Range of Markets
- Broker Comparison for Range of Markets
- RoboForex Trading and Non-Trading Fees
- RoboForex Deposits and Withdrawals
- How to Deposit Funds with RoboForex
- RoboForex Fund Withdrawal Process
- RoboForex Education and Research
- RoboForex Bonuses and Promotions
- How to open an Affiliate Account with RoboForex
- RoboForex Affiliate Program Features
- RoboForex Customer Support
- RoboForex Corporate Social Responsibility
- Verdict on RoboForex
- RoboForex Current Popularity Trends
- RoboForex Pros and Cons
- Frequently Asked Questions
- Conclusion
RoboForex Overview
RoboForex offers five different retail trading accounts namely a Prime Account, ECN Account, R StocksTrader Account, ProCent Account, and Pro Account.
RoboForex is a multi-award-winning online broker that allows you to trade more than 12,000 trading instruments across eight asset classes.
RoboForex Group has been acknowledged by the most known specialists in the financial market since 2009 and has been functioning via two globe-presented entities: RoboForex, which provides services all over the world, and RoboMarkets Ltd, which is based in Cyprus and supports EU and EEA nations.
Users from various markets may expect a smooth trading experience at RoboForex. Over a million traders have created a test account with the site, which is presently serving worldwide Forex investors.
RoboForex gives the greatest promotional deals in the financial markets to its consumers. RoboForex is a worldwide broker that provides personalized solutions to its clients, ranging from copy trading to crypto deposits.
This RoboForex review for Namibia will provide local retail traders with the details that they need to consider whether RoboForex is suited to their unique trading objectives and needs.
RoboForex accepts Namibian clients and has an average spread from 0.0 pips with $10 commissions per million traded. RoboForex has a maximum leverage ratio up to 1:2000 and there is a demo and Islamic account available.
MT4, MT5, cTrader, R StocksTrader, and R MobileTrader platforms are supported. RoboForex is headquartered in Belize and regulated by the IFSC.
Popularity among traders who choose RoboForex
RoboForex is one of the Top 20 forex and CFD brokers for Namibian traders, despite having a small physical presence in the country.
RoboForex At a Glance
| 🏛 Headquartered | Belize City |
| 🏙 Local office in Windhoek? | No |
| ✅ Accepts Namibian Traders? | Yes |
| 🗓 Year Founded | 2009 |
| 📞 Namibian Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | International Financial Services Commission (IFSC) |
| 🪪 License Number | 000138/210 and registration no. 128.571 |
| ⚖️ BoN Regulation | None |
| 🚫 Regional Restrictions | USA, Canada, Japan, Australia, Bonaire, Curaçao, the Democratic Republic of Timor-Leste, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, and other regions |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 5 |
| 📊 PAMM Accounts | No |
| 🤝 Liquidity Providers | 8 Liquidity Providers |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Market |
| 📊 Average spread | From 0.0 pips |
| 📞 Margin Call | 40% to 60% |
| 🛑 Stop-Out | 10% to 40% |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a NAD Account? | No |
| 👨💻 Dedicated Namibian Account Manager? | No |
| 📊 Maximum Leverage | 1:2000 |
| 🚫 Leverage Restrictions for Kenya? | None |
| 💰 Minimum Deposit (NAD) | 150 NAD or an equivalent to $10 |
| ✅ Namibian Dollar Deposits Allowed? | No |
| 📊 Active Namibian Trader Stats | 150,000+ |
| 👥 Active Namibian-based RoboForex customers | No |
| 💳 Namibia Daily Forex Turnover | Unknown, overall Forex Daily Trading Volume is over $6.6 Trillion |
| 💵 Deposit and Withdrawal Options | • Bank Payments (26) • Electronic Payments (6) • Bank Cards (2) • Cash and Vouchers (15) |
| ⏰ Minimum Withdrawal Time | No |
| 💵 Instant Deposits and Instant Withdrawals? | Yes |
| 🏦 Segregated Accounts with Namibian Banks? | No |
| 🕐 Maximum Estimated Withdrawal Time | Up to 5 Working Days |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • cTrader • R StocksTrader • R MobileTrader |
| ✔️ Tradable Assets | • Forex • Stocks • Indices • ETFs • Commodities • Metals • Energy Commodities • Cryptocurrencies |
| 💸 Offers USD/NAD currency pair? | No |
| 📈 USD/NAD Average Spread | N/A |
| 📉 Offers Namibian Stocks and CFDs | None |
| 🗣 Languages supported on Website | English, Polish, Indonesian, Malayan, Portuguese, Spanish, Italian, Czech, Simplified Chinese, Vietnamese, and more |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/7 |
| 👥 Customer Support Languages | No |
| ✅ Bonuses and Promotions for Namibians | Yes |
| 📚 Education for Namibian beginners | Yes |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Namibian Trader | Michael Amushelelo (Net Worth Unknown) |
| ✅ Is RoboForex a safe broker for Namibians? | Yes |
| 📊 Rating for RoboForex Namibia | 9/10 |
| 🤝 Trust score for RoboForex Namibia | 88% |
| 👉 Open an account | 👉 Open Account |
Overall Rating
- 4.7/5
Min Deposit
10 USD / 186 NAD
Regulators
FSC
Trading Desk
MT4, MT5, MobileTrader, StockTrader, WebTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex Regulation and Safety of Funds
RoboForex Regulation in Namibia
RoboForex is currently not regulated locally by the Bank of Namibia (BoN), but only by the IFSC in Belize.
RoboForex Global Regulations
RoboForex Ltd has been licensed by the International Financial Services Commission (IFSC) in Belize under license number 000138/210.
RoboForex Client Fund Security and Safety Features
RoboForex is required by anti-money laundering (AML) rules and Know Your Customer (KYC) requirements to authenticate each customer’s identification and to ban third-party payments or payments from unknown sources.
RoboForex Ltd customers may be eligible for compensation of up to €20,000 from a Compensation Fund that is a member of the Compensation Fund. RoboForex’s Civil Liability Insurance policy also provides coverage for fraud, errors, negligence, and other losses up to a maximum of 5 million EUR.
RoboForex Limited’s execution quality certificate, Verify My Trade (VMT), certifies that the broker complies with all the Financial Commission’s requirements. Individual investors may also benefit from RoboForex’s negative balance protection on all retail accounts.
RoboForex Awards and Recognition
RoboForex has strived to provide the most pleasant trading circumstances for its customers and partners since its inception. RoboForex is often nominated for prominent prizes and earns honourable accolades because of its efforts.
These accomplishments illustrate the trading community’s appreciation and inspire the RoboForex team to reach new heights. Some of the latest awards that RoboForex has won include, but are not limited to:
Most Trusted Broker Globally (2024), issued by the International Business Magazine.
Most Transparent Broker Globally (2024), issued during the World Economic Magazine Awards.
Best Stocks Broker Globally (2024), issued during the London Trader Show Awards.
Best Broker of the Year 2021, issued by Traders Union IAFT.
Best Affiliate Program Globally in 2021, issued during the Global Forex Awards.
Best Investment Products Globally, issued in 2021 during the Global Brands Magazine Awards.
Most Profitable Broker in 2021, awarded to RoboForex by Traders Union IAFT.
Best Traders Union Partner in 2021, issued by Traders Union IAFT.
RoboForex Account Types and Features
RoboForex offers five different retail investor accounts to Namibian traders. Muslim traders may also create an Islamic Account, which exempts them from overnight fees that may be taken or credited to their trading account, which is banned by Sharia law.
It is also worth mentioning that RoboForex offers a demo account with virtual money that may be used for a variety of purposes. Namibian traders have the option of using one of the following account types:
Prime Account
ECN Account
R StocksTrader Account
ProCent Account
Pro Account
RoboForex Live Trading Account Details
Prime Account
The Prime Account benefits both forex and other sorts of traders by providing the best possible trading conditions. The Prime account is different from other conventional trading accounts in that it is designed for novice, intermediate, and skilled traders equally.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 💵 Base Currency Options | USD, EUR, GOLD |
| 💸 Minimum Deposit Requirement | 150 NAD/10 USD |
| 💰 Commission | Yes, $10 per million traded |
| 📊 Spreads | Floating from 0.0 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 28 Forex Pairs, Spot Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:300 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 100% |
| 💵 Cashback (Rebates) offered | 5% of overall commission |
| 💸 Bonuses Offered | No profit share or classic deposit bonus |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 12 Months |
ECN Account
Opening an Electronic Communications Network (ECN) account is a good option for experienced traders searching for the quickest order execution and best trading conditions.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 💵 Base Currency Options | USD, EUR, CNY, GOLD |
| 💸 Minimum Deposit Requirement | 150 NAD/10 USD |
| 💰 Commission | $20 per million traded |
| 📊 Spreads | Variable spread from 0.0 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 40% |
| 💵 Cashback (Rebates) offered | Up to 15% of RoboForex’s revenue |
| 💸 Bonuses Offered | No profit share or classic deposit bonus |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 12 Months |
R StocksTrader Account
Traders in Namibia have exclusive access to the R StocksTrader proprietary trading platform, which is built for stock trading and investment, via this specific account.
| Account Feature | Value |
| 💻 Trading Platforms available | R StocksTrader |
| 💵 Base Currency Options | USD, EUR |
| 💸 Minimum Deposit Requirement | 1,500 NAD or 100 USD |
| 💰 Commission | • US Stocks ($10,000+ Deposit) – $0.009 p/share • US Stocks – $0.025 per share • US Stock CFDs – $0.02 per share • EU Stock CFDs – 0.07% • $15 per 1 million base currency on forex • Variable commission on Indices |
| 📊 Spreads | • US Stocks ($10,000+ Deposit) – from $0.01 • US Stocks – from $0.01 • US Stock CFDs – from $0.01 • EU Stock CFDs – from 0.0 Pips • Forex – from 0.0 pips • Indices – from 0.5 pips |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | Over 12,000 instruments across Indices, Individual Stocks, Stock CFDs, Forex, ETFs, Oil CFDs, Metal CFDs, Brazil Stock CFDs, Crypto |
| 📈 Maximum Leverage Ratio | • US Stocks ($10,000+ Deposit) – up to 1:20 • US Stocks – 1:2 • US Stock CFDs – up to 1:20 • EU Stock CFDs – up to 1:5 • Forex – up to 1:300 • Indices – 1:100 |
| 📉 Minimum Trade Volume | 0.01 |
| 📈 Maximum Trade Volume | None |
| 🛑 Stop-Out | 20% |
| 💵 Cashback (Rebates) offered | No |
| 💸 Bonuses Offered | No |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | No |
| 💳 Trading Account History Time Frame | None |
ProCent Account
This kind of account is great for both beginners and experienced traders, as it allows them to test trading tactics or Expert Advisors.
This is the first genuine trading account a trader may use to ease them into live market circumstances after they have finished the demo account and are ready to trade with real money.
This account is considered one of the best automated trading solutions available from RoboForex when paired with RoboForex’s unique mobile trading tools.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader |
| 💵 Base Currency Options | USD, EUR, CNY, GOLD |
| 💸 Minimum Deposit Requirement | 150 NAD/10 USD |
| 💰 Commission | None |
| 📊 Spreads | Variable spread from 1.3 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 36 Forex Pairs, Precious Metals, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Volume | 0.01 |
| 📈 Maximum Trade Volume | 10,000 |
| 🛑 Stop-Out | 10% |
| 💵 Cashback (Rebates) offered | Up to 1.5% of RoboForex’s revenue |
| 💸 Bonuses Offered | Yes, Profit Share (60%), Classic Deposit (120%) |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 1 Year |
Pro Account
The RoboForex Pro Account is the best option for professional traders in Namibia who want the narrowest spreads, commission-free trading, access to a few trading platforms, and high leverage.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 💵 Base Currency Options | USD, EUR, CNY, GOLD |
| 💸 Minimum Deposit Requirement | 150 NAD/10 USD |
| 💰 Commission | None |
| 📊 Spreads | Variable spread from 1.3 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 |
| 🛑 Stop-Out | 20% |
| 💵 Cashback (Rebates) offered | Up to 15% of RoboForex’s revenue |
| 💸 Bonuses Offered | Yes, Profit Share (60%), Classic Deposit (120%) |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 1 Year |
RoboForex Base Account Currencies
Clients of RoboForex may pick from a few different base currencies, including USD, EUR, CNY, and GOLD.
A currency conversion fee will be imposed for deposits and withdrawals for Namibians having bank accounts denominated in NAD. Unfortunately, currency conversion fees may increase the cost of trading and reduce profitability.
RoboForex Demo Account
RoboForex has three demo accounts to choose from namely Demo Pro, Demo, and Demo R Trader.
The Demo Pro account is the most popular option since it mimics the trading circumstances of the normal account packages, including maximum leverage of 1:2000 and changeable spreads starting at 0.00 pips.
In addition, Namibian traders can practice trading methods on all platforms using demo accounts without risking real money. However, traders must note that while the demo account is free, it is only available for 90 days before it expires.
RoboForex Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
How to open an Account with RoboForex in Namibia
To register an account with RoboForex, Namibian traders can follow these steps:
Traders can create an account by clicking the “Open an Account” banner on the RoboForex homepage.
Traders will be redirected to a page containing an electronic application form where they must provide personal information, contact details, financial and employment information, and any other details that could be requested by RoboForex.
Next, traders must choose a trading account type, their preferred trading platform, level of leverage, account base currency, and a user-selected password.
Next, new traders must complete the KYC process where they must provide proof of their identity and residential address.
Clients who confirm their personal information will also get a “Welcome bonus” and monthly payments of up to 10% on their account balances, as well as the opportunity to join the “Cashback (Rebates)” program and earn free VPS services.
Once the account information and supporting documents have been reviewed, traders can deposit funds to start trading. However, before doing this, traders are urged to read the risk disclosure, customer agreement, and the overall terms of business.
How to Register Your Account
Step 1 – Go to the Official RoboForex Website
Go to the official RoboForex website (https://www.easymarkets.com/) and click on “Open An Account”.
Step 2 – Fill Out Your Details
Fill out your email address, first and last name, and mobile phone number. Now click on “Register” to open your account.
RoboForex VS OANDA VS FXTM- Broker Comparison
| RoboForex | OANDA | FXTM | |
| ⚖️ Regulation | IFSC | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA | CySEC, FSCA, FCA, FSC Mauritius |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • cTrader • R StocksTrader • R MobileTrader | • MetaTrader 4 • OANDA Platform • TradingView | • MetaTrader 4 • MetaTrader 5 • FXTM Trader |
| 💰 Withdrawal Fee | Yes | None | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 150 NAD | 0 NAD | 150 NAD |
| 📈 Leverage | 1:2000 | 1:200 | 1:2000 |
| 📊 Spread | 0.0 pips | Variable, from 0.1 pips | 0.0 pips |
| 💰 Commissions | $3 to $4 | $40 | From $0.4 |
| ✴️ Margin Call/Stop-Out | • Margin: 40% – 60% • Stop-out: 10% – 40% | 100%/ 50% | • 60%/40% • 80%/50% |
| ✴️ Order Execution | Market | Market | Market, Instant |
| 💳 No-Deposit Bonus | Yes | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • RoboForex Prime Account • RoboForex ECN Account • RoboForex R StocksTrader Account • RoboForex ProCent Account • RoboForex Pro Account | • Standard Account • Core Account • Swap-Free Account | • Micro Account • Advantage Account • Advantage Plus Account |
| ⚖️ BoN Regulation | No | No | No |
| 💳 NAD Deposits | Yes | Yes | Yes |
| 📊 NAD Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 5 | 3 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📊 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 💰 Maximum Trade Size | 500 lots | 1,000 lots | Unlimited |
Overall Rating
- 4.7/5
Min Deposit
10 USD / 186 NAD
Regulators
FSC
Trading Desk
MT4, MT5, MobileTrader, StockTrader, WebTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex Trading Platforms
RoboForex offers Namibian traders a choice between these trading platforms:
MetaTrader 4
MetaTrader 5
cTrader
R StocksTrader
R MobileTrader
Desktop Platforms
MetaTrader 4
MetaTrader 5
cTrader
MetaTrader 4
Retail traders still gravitate toward using the time-tested MetaTrader 4 platform the most. Our platform is designed to accommodate investors of all experience levels, from novices to seasoned professionals.
In addition to this, the terminal has the MQL platform-specific features and opportunities.
MetaTrader 5
The order execution and distributed computing that is integrated into the MetaTrader 5 (MT5) trading interface make it possible to execute even the most complex trading strategies with relative simplicity.
MetaTrader 5, which is among the most sophisticated platforms currently accessible, may be used for the creation and testing of trading robots and strategies.
If Namibian traders place a high value on speed and reliability when utilizing trading robots and want to make use of the latest and most innovative technology, the MetaTrader 5 platform is the best alternative available to them.
cTrader
RoboForex offers a Straight Via Processing (STP) access solution for professional traders through its cTrader platform. cTrader is the platform of choice for seasoned investors who want access to a wide variety of order types, level II pricing, and lightning-fast execution.
The cTrader platform has a multitude of useful features, such as over 50+ indicators, 9 diverse types of advanced interactive charts, 14-timeframes, alerts, and more. Traders could construct their own trading robots and indicators using C# by using cTrader Automate.
WebTrader Platforms
MetaTrader 4
MetaTrader 5
cTrader
R StocksTrader
MetaTrader 4
The web-based version of the MetaTrader 4 platform is available, and this version is compatible with all contemporary browsers. The MT4 online terminal includes all the functionality and performance of the desktop version, much as the desktop version of RoboForex.
Traders in Namibia may use the WebTrader on any device if they have a reliable Internet connection, just as they can do with the mobile app.
MetaTrader 5
Using the MetaTrader 5 online terminal from MetaQuotes, which is compatible with any browser, Namibians can trade using whatever device they want.
Using the online trading terminal, traders in Namibia can maintain track of their positions and make quick trading decisions depending on the current circumstances of the market.
To gain access to the online version of the MetaTrader 5 platforms, all that Namibian traders need is an internet connection, a browser, and a trading account with RoboForex that has been validated and financed.
cTrader
In terms of flexibility and independence, traders who like web interfaces over “conventional” software have a wonderful choice available to them in the form of cTrader’s online terminal. The following is a list of some of the benefits that come with using cTrader on a web browser:
Access to the same extensive capabilities as the desktop platform
cTrader can be accessed using any web browser
It is currently the best choice for macOS users
The process that is involved with setting up user preferences via the cTrader ID is straightforward
R StocksTrader
R StocksTrader is a multi-asset terminal that combines the most advantageous aspects of both conventional design and innovative technology.
This results in a product that is the best of both worlds. Traders in Namibia can access any worldwide financial market via the use of a web terminal, which may be accessed using any device that is linked to the Internet.
Trading App
MetaTrader 4
MetaTrader 5
cTrader
R MobileTrader
MetaTrader 4
The MetaTrader 4 portable application is the ideal alternative for trading on the move.
This mobile terminal provides traders with a comparable interface with minor modifications and the same set of tools and capabilities as the desktop terminal, which is specially developed for iOS/Android-based smartphones and tablets.
MetaTrader 5
The MetaTrader 5 trading platform is accessible through iOS and Android mobile devices from anywhere in the world.
Market Depth, 30 technical indicators, and 24 analytical tools are all included in the application, along with everything else that traders will need to carry out their trading activities in competitive, fast-paced financial markets.
cTrader
On mobile devices running iOS or Android, the complete functionality of the cTrader interface is now accessible, including:
A user-friendly interface
Multilingual support
Straightforward charting options
The ability to set push notifications
R MobileTrader
R MobileTrader is a complete and compact “workstation” that enables traders to execute transactions under ideal conditions, deposit funds to trading accounts quickly and easily and conduct market research.
RoboForex Range of Markets
Namibian traders can expect the following range of markets from RoboForex:
Forex
Stocks
Indices
ETFs
Commodities
Metals
Energy Commodities
Cryptocurrencies
Broker Comparison for Range of Markets
| RoboForex | OANDA | FXTM | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | Yes | Yes | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | No | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | No | No |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | No |
Overall Rating
- 4.7/5
Min Deposit
10 USD / 186 NAD
Regulators
FSC
Trading Desk
MT4, MT5, MobileTrader, StockTrader, WebTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex Trading and Non-Trading Fees
Spreads
According to RoboForex’s trading costs, Namibian traders may expect different spreads based on the account type and trading instrument they choose. Traders might expect the following EUR/USD spreads depending on their account type.
Traders can expect the following:
Prime Account – from 0.0 pips
ECN Account – 0.0 pips
R StocksTrader Account – from $0.01
ProCent Account – from 1.3 pips
Pro Account – from 1.3 pips
Commissions
Traders might anticipate commission fees based on the trading account they use. Consequently, Namibians might anticipate the following commission fees:
ECN Account – $20 per million traded
Prime Account – $10 per million traded
Overnight Fees, Rollovers, or Swaps
RoboForex’s overnight expenses are affected by a trader’s position size, market conditions, and the financial instrument being traded. Typical overnight costs for Namibian traders include the following:
EUR/USD – a short swap of -0.08 points and a long swap of -0.679 points
XAG/USD – a short swap of 0.028 points and a long swap of -0.179 points
XAU/USD – a short swap of -7.4466 and a long swap of -13.3 points
CFDs – short swaps of -3.0% and long swaps of -6.0%
Cryptocurrencies – short swaps of -20% and long swaps of -20%
US Stock CFDs – short swaps of -3% and long swaps of -6%
Deposit and Withdrawal Fees
While there are no costs when Namibian traders deposit money with RoboForex, there are fees when they withdraw money:
ThunderX, Shop2Pay, Eximbank, TPBank, Maritime bank, Agribank, Asia Commercial Bank, BIDV, VIB, Techcombank, VietinBank, Vietcombank, Bank Transfer (SEPA) – 1.5%
Local Bank Transfer – up to 4%
AstroPay – 0.5%
Skrill – 1%
Neteller – 1.9%
Perfect Money – 0.5%
AdvCash – 1%
Debit and Credit Cards – 2.6% + 1.3 USD or 1 EUR
Inactivity Fees
RoboForex does not charge any fees when a live trading account becomes dormant.
Currency Conversion Fees
When traders deposit funds in any currency other than USD, EUR, CNY, or GOLD, they could face currency conversion fees.
Other Fees
No swap is incurred when the account type is set to “Swap-Free.” Instead, a predetermined commission amount is paid to the client’s account for rolling a position over to the following calendar day.
RoboForex Deposits and Withdrawals
RoboForex offers the following deposit and withdrawal methods:
Bank Payments (USD, BRL)
Boleto (USD, BRL)
Santander Rio (USD)
Bancolombia (USD)
PSE (USD)
China UnionPay (CNY)
Banco Do Brazil (USD)
Bradesco (USD)
ITAU (USD)
Webpay (USD)
Spei (USD)
ThunderX (QR-Code) (THB, LAK, MMK, KHR)
Shop2Pay (QR-Code) (THB)
Eximbank (VND)
TPBank (VND)
Agribank (VND)
Maritime Bank (VND)
Asia Commercial Bank (VND)
BIDV (VND)
VIB (VND)
Techcombank (VND)
VietinBank (VND)
Vietcombank (VND)
TED/DOC (BRL)
Bank Transfer (SEPA) (EUR)
Local Bank Transfer (MYR)
AstroPay (AED, AUD, BRL, CLP, CNY, EUR, GBP, IDR, INR, JPY, MXN, MYR, NGN, THB, USD, VND)
Skrill (USD, EUR)
Neteller (USD, EUR, MYR, IDR, AED, PLN)
Perfect Money (USD, EUR)
AdvCash (USD, EUR, UAH, BRL, GBP, KZT)
Nganluong Wallet (VND)
China UnionPay Bank Card (CNY)
VISA, MasterCard, JCB (USD, EUR, CHF, GBP, PLN, CZK, UAH, CNY, MYR, KZT)
Cash and Vouchers (USD) including efecty, Davivienda, Almancense Éxito, Carulla, Edeq, Surtimax, Pago Facil, Rapi Pago, ServiPag, Red Pagos, Banorte, Bancomer, OXXO, Pago Efectivo
Western Union (USD)
How to Deposit Funds with RoboForex
To deposit funds to an account with RoboForex, Namibian traders can follow these steps:
Navigate to the Members area and select the “Deposit Funds” option.
Choose the trading account that will be funded by using the dropdown list.
Select a preferred payment method.
Select whether to deposit funds, receive a bonus, and provide the percentage. Alternatively, continue without selecting this option.
Specify the deposit amount and the deposit currency.
Select “Deposit Funds.”
RoboForex Fund Withdrawal Process
To withdraw funds from an account with RoboForex, Namibian traders can follow these steps:
Before attempting to withdraw cash, RoboForex account holders must first verify and authorize their account.
RoboForex members can access the “Withdraw Funds” section by logging into their accounts.
Traders must ensure that the account they wish to withdraw money from is the one that is currently active in the Members Area.
Traders have a few payment alternatives to select from.
Once traders have selected their withdrawal option, they may click “Go To.”
Depending on the payment method, traders may be needed to give further information.
Submitting a withdrawal request will take the trader to the next page, where they may offer further details. Furthermore, Namibian traders should be aware that all withdrawal requests are processed within two working days, from 9 am to 6 pm (EET).
RoboForex Education and Research
Education
RoboForex offers the following Educational Materials:
Guides on Account Opening and Trading
Educational Videos
FAQ Section
RoboForex also offers Namibian traders the following additional Research and Trading Tools:
Forex Analysis and Forecasts
RoboForex Analytics Centre
Economic Calendar
Blog
R StocksTrader Strategy Builder
Trading Calculators
Financial Charts
Trading Tips
Expert Advisors
Changes in Trading Schedule
CopyFX
RoboForex Bonuses and Promotions
RoboForex offers Namibian traders the following bonuses and promotions:
Promotion to the value of $1.1 million to celebrate 11 years of RoboForex
Welcome Bonus
Profit Share Bonus
Classic Bonus
Cashback (rebates)
Up to 10% back on trading accounts
How to open an Affiliate Account with RoboForex
To register an Affiliate Account, Namibians can follow these steps:
Visit the RoboForex website and hover over the “For Partners” tab at the top of the homepage.
Hover over the “Affiliate Program” section and click on the “Download Affiliate Program Presentation” which will provide comprehensive information about the program.
Next, click on the “Overview” section under the Affiliate Program and select the green “Become a Partner” banner to get started.
Register for the Affiliate Portal by providing your email address, first and last name, and mobile number.
Confirm that you are at least 18 years old and that you agree to the relevant documents.
Once complete, your account credentials will be emailed to the address you provided.
Once logged in, you can verify your details and start using the promotional materials and other tools offered by RoboForex.
RoboForex Affiliate Program Features
RoboForex features a sophisticated affiliate network that pays up to 84% commissions, provides rapid partner commissions of up to 74%, and a loyalty program that pays up to 20% of total partner commissions.
The official website of RoboForex has a useful real-time calculator that enables prospective partners to calculate their commission depending on the number of clients they have.
All RoboForex professional accounts are available for up to 50% revenue share, while Affiliate accounts are suitable for up to 70% revenue share and R StocksTrader accounts are eligible for up to 50% revenue share.
Some of the benefits of joining the RoboForex affiliate program include:
Zero restrictions on pay-outs
Zero restrictions on the maximum pay-outs per month or per client that is referred
Daily payments are available
Zero deal restrictions
All trades are paid out
There are no restrictions on the bonuses that are tied to trading volumes
There is 24/7 affiliate customer support
There are analytics offered to affiliates in addition to real-time tracking of clients
Three comprehensive Affiliate account types can be registered.
RoboForex’s incentive scheme also allows partners to increase their overall earnings by up to 20%. The program allows all partners to an additional percentage of the total commission paid based on monthly performance.
In terms of client account markup, partners may make 2.5x more on pro accounts and up to 70% more on affiliate accounts. When affiliates join the VIP or the Expert programs, they are also given the chance to earn multiple commission levels.
RoboForex Customer Support
RoboForex provides expert assistance in 13 languages around the clock. Support is available by online chat, phone, and email to answer your questions. There is also a call back service where you can leave your phone number and they will contact you immediately.
RoboForex provides great and award-winning customer service. Support is usually quick to answer, and it is fantastic that they are even accessible on weekends, which is very crucial if you are planning to trade cryptocurrencies.
RoboForex Corporate Social Responsibility
RoboMarkets Ltd considers that it is a moral duty to donate to projects that improve the quality of life on our planet. Therefore the business is dedicated to routinely supporting several charity initiatives.
Verdict on RoboForex
You can trade in a wide variety of marketplaces under favourable trading circumstances. RoboForex offers a variety of customizable account types and financing choices for all customers.
There is a variety of trading instruments available to facilitate trading, as well as an abundance of thorough market research that is often updated. It is evident why RoboForex has won several awards as an internet broker.
RoboForex offers to traders that value cheap trading expenses and a wide variety of account options with a broad range of financial instruments accessible on four distinct trading platforms namely MetaTrader 4, MetaTrader 5, cTrader, and R StocksTrader.
RoboForex is particularly notable for its extensive range of financial instruments, which includes over 12,000 equities, 1,000 ETFs, 100 commodities, 40 Forex pairs, 26 cryptocurrencies, 2 metals, 2 energies, and 5 indices.
Support is available for a variety of trading platforms in 13 languages and RoboForex can be contacted 24 hours a day, 7 days a week.
RoboForex’s teaching and market analysis resources, developed in collaboration with third-party supplier Claws and Horns, are well-organized and comprehensive, providing a significant advantage to new traders.
RoboForex Current Popularity Trends
👉 According to Google Trends, RoboForex has seen an increase in Google Searches in the past month.
RoboForex Pros and Cons
| ✔️ Pros | ❌ Cons |
| RoboForex has a high trust score and is a reputable and award-winning broker | RoboForex does not have Tier-1 or Tier-2 regulations |
| There are several accounts to choose from, each with dynamic trading conditions | Namibian traders will face currency conversion fees on NAD deposits and withdrawals |
| Namibians can choose between four powerful trading platforms | There is no NAD-denominated account |
| There is an extensive range of tradable instruments from several asset classes | Fixed spread accounts are not offered by RoboForex |
| There is an incredibly low minimum deposit of 150 NAD ($10) | |
| There is a demo and Islamic account offered by RoboForex | |
| There is excellent 24/7 support offered by RoboForex in 13 languages | |
| RoboForex offers negative balance protection on all retail trading accounts |
Overall Rating
- 4.7/5
Min Deposit
10 USD / 186 NAD
Regulators
FSC
Trading Desk
MT4, MT5, MobileTrader, StockTrader, WebTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Frequently Asked Questions
What is the minimum deposit for RoboForex?
The minimum deposit for RoboForex is 10 units in USD, EUR, GOLD, or CNY. Thus, Namibian traders can expect minimum deposits of 150 NAD.
What is the withdrawal time with RoboForex?
The withdrawal time with RoboForex is between a working day and 10 working days, depending on the specific payment method used.
Does RoboForex accept Bitcoin?
Yes, RoboForex offers popular cryptocurrencies including Bitcoin, Solana, Ethereum, Litecoin, XRP, and others.
Is RoboForex regulated?
Yes, RoboForex is regulated by the Tier-3 market regulator in Belize, the International Financial Services Commission.
How do I deposit money on RoboForex?
Once your account is verified and approved, you can navigate to the fund deposit page, select the account you wish to fund, choose a payment provider, and the amount that you wish to deposit.
Does RoboForex have Nasdaq?
Yes, RoboForex offers Nasdaq under cash indices as “USTECH.”
How do I claim my RoboForex welcome bonus?
You can register an account, verify the account, deposit funds, trade using the bonus, and withdraw profits from the account.
Is RoboForex safe or a scam?
RoboForex is a safe broker that has an award-winning history and several industry awards behind its name.
Does RoboForex have Volatility 75?
No, RoboForex does not currently offer VIX as part of its offer on Cash Indices or CFDs.
Conclusion
Now it is your turn to participate:
Do you have any prior experience with RoboForex?
What was the determining factor in your decision to engage with RoboForex?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues with RoboForex such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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