There is a strong need to bring awareness amongst the investors and traders about the legitimacy of brokers. RoboForex is suspected to be a scam broker. That is why we have created RoboForex Review to warn everyone who is searching for a reliable broker. In RoboForex Review we are going to explain why we included it in our list of fraudulent brokers 2024 and also a way through which RoboForex victims can claim their lost funds.
Website: https://roboforex.com/
Website Availability: Yes
Official Address: 9724 Ramiro Duran Street, Belize City, Belize
Regulation: Unregulated
Warned By: The Securities Commission (Malaysia)
Domain Status:
Domain Name: ROBOFOREX.COM
Registry Domain ID: 651484459_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.register.com
Registrar URL: http://www.register.com
Updated Date: 2024-02-06T07:10:48Z
Creation Date: 2006-10-30T13:34:37Z
Registry Expiry Date: 2029-10-30T12:34:37Z
Facts which indicate that RoboForex is scam broker.
RoboForex claims to be a well-known online brokerage firm that provides multiple trading services, including equities, indices, ETFs, metals, energy, commodities, and CFDs on futures and currencies. This company was founded in 2009 and has built a substantial customer base over the years thanks to its user-friendly interfaces, affordable pricing, and diversified trading products. It provides five trading platforms, including R StocksTrader, R MobileTrader, R WebTrader, MetaTrader 5, and MetaTrader 4. RoboForex highlights itself as a genuine player in the financial markets, having obtained numerous regulatory licenses, including CySEC and IFSC.
How to know if a broker is fraudulent. Checklists.
There are several common factors to take into consideration when assessing the legitimacy of a broker like RoboForex. Consider the following overview to make a well-informed decision.
Regulatory Status and Warnings
The first thing to do is to determine if the platform is registered with the appropriate financial regulatory bodies. Authorities like the ASIC in Australia, the FCA in the UK, the SEC in the US, or comparable agencies in other nations usually oversee legitimate trading platforms. These authorities ensure the platform works openly and protect investors by following regulations. An important warning indication is when regulations are unclear or nonexistent.
If a broker has received warnings from regulatory bodies, it is a significant matter of concern and should prompt further investigation before engaging with the platform. Check the regulatory status of RoboForex to confirm its compliance with these standards.
Negative RoboForex Reviews and Feedback
Look into any complaints or unfavorable reviews that RoboForex may have received recently, since these may point to possible problems or worries raised by other users. Reviewers should use caution when reading too positive comments, as they could include inaccurate or misleading information. We found a number of unfavorable evaluations regarding RoboForex, which strongly implies that this broker has deceived a large number of customers.
Transparency and Information
A trustworthy platform should provide complete and transparent information about its services, costs, trading terms, and associated risks. Ensure that RoboForex is upfront about its ownership, operational methods, and financial disclosures. If the platform is vague about its ownership, operations, or promises unrealistically high returns with minimal risk, it might be fraudulent. Always read the fine print and fully understand the terms and conditions before investing.
Withdrawal Issues
Check for any reported issues or delays with withdrawing funds from RoboForex. Reputable trading platforms handle withdrawals quickly and without undue waiting times. It is a serious warning flag if customers often report issues with money withdrawal, such as prolonged processing periods, excessive costs, or complete denial of withdrawal requests. Before investing bigger sums of money, always try the withdrawal procedure with a smaller amount.
How to Claim a Refund from RoboForex?
If you have sought but failed to recover your money from RoboForex, gather your supporting proof. Keep copies of every correspondence as proof of your payment demands. If they halt or refuse, initiate the chargeback process immediately. Inform the bank about FC1’s suspicious business practices and absence of a license.
Because of the inability to chargeback, wire transfers are a tough means to recover money. Making a complaint and contacting the authorities are the most effective strategies to escalate the problem. This strategy frequently leads to the reevaluation of refund decisions. If you do not receive your money back, file a detailed fraudulent report and email it to the company, stating that you will send it again. Please contact fraud complaints if you need any assistance.
RoboForex Review – Conclusion
Based on many factors explained above we have finally concluded that RoboForex is fraudulent. Do extensive research on any site before investing.
Be aware of schemes like Forex Trading Deceptions, Cryptocurrency Cons, Romance Tricks, Pump and Dump Tactics, Ponzi Schemes, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Robo-Advisors Deceptions, and Binary Options Deceptions.
If you have already fallen victim to RoboForex, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back.
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Note: The RoboForex review is influenced by existing reviews online. We are not responsible for any legal actions taken by any entity favoring RoboForex invest.