RoboFXMarkets is a clone, and the platform has the same website design as SpursMarkets. Both of these platforms aim to tarnish the good name of forex investment. We have to put an end to Robo FX Market’s horrendous trading activities. Once you deposit funds with robofxmarkets.com, that’s the last you will see of them. Thousands have lost funds with this falsely regulated platform. Here’s more in our detailed ROBOFXMARKETS REVIEW.
You need to invest in proven investment platforms that generate passive income. Experts recommend using industry-proven investment options. Try Coin staking, DeFi, and Masternoding for safe investment options.
The platform claims residency in Europe’s financial hubs, the United Kingdom. These are false allegations as RoboFXMarkets is an anonymous platform. The platform claims to have offices all over Europe, including Cyprus and France.
We have an attempt by scam artists to try and rip off anyone who invests with the platform. The plan is straightforward, block all withdrawal attempts by naïve investors. And this has worked as hundreds now complain of withdrawal issues.
We have to give credit for the platform’s sales pitches. Once you land on the homepage, you feel like a professional forex trading platform. The aesthetics alone will make most investors sign up.
You don’t get to see the red flags found on the platform. Thanks to our keen eye, we will help expose all the red flags found on the platform. We recommend that you stay away from the platform and any other with similar aesthetics.
Before investing in any investment platform, you need to do due diligence. First, try and find out what makes a platform tick. That’s the only way to ensure your trading is secure. Also, find out from other investors about their experience before signing up.
There are several funding methods available on the platform. The owners ensure that users from all over the world can deposit funds. These depository options include bank and wire transfers. The platform also accepts bitcoin deposits.
After depositing funds with the platform, the balance will reflect within 24 hours. You can then start trading as the platform gives false hope of trading. However, when the time comes to withdraw, that’s when all hell breaks loose.
Withdrawing funds from the platform has been a major headache for members. The platform doesn’t bother responding to queries regarding withdrawals. As a result, investors are left on their own without access to funds.
RoboFXMarkets avail three account types on the platform. These include Standard, Prime, and VIP. Each of these accounts comes with a different set of features. Here’s a closer look at each of the three accounts;
Standard
It’s the most basic account, with investors having to deposit $500 to get started. The platform claims the standard account is for traders looking for a linear trading experience. You get spreads starting from 1.8 pips.
Prime
You have to deposit $2,000 to get started with the prime account. There’s no mention of available or maximum leverage with any of these accounts. The account offers spreads starting from 0.6 pips.
VIP
The VIP account dictates a minimum acceptable deposit of $20,000. Robo FX Markets claims the account was crafted for high-profile traders. The account also targets institutional traders with spreads starting from 0.4 pips.
We have to expose the high minimum deposit amount with the standard account. Regulators indicate that the acceptable minimum deposit is $250. Any platform asking for more than the acceptable amount is taking advantage of investors.
There’s also the issue of leverage. As regulators fight to ensure a level playing field, such platforms take advantage. As a result, you get a platform that promises high leverage for some assets. Unfortunately, leverage is sometimes at 1:500, which is unacceptable.
Regulators have moved in to protect investors from high leverage. You get a maximum of 1:100 for platforms trading in Europe. In the United States, the maximum leverage set is 1:50 for retail traders.
An affiliate and referral program is set for anyone willing to partner with the platform. Robo FX Markets claims to offer payouts starting from $10 to a maximum of $300. Before you sign up, you need to know the consequences.
As an affiliate, your work is to direct users to the platform. Remember that the platform will later block withdrawals for these new members. You are to blame for directing investors to a scam platform at the end of the day.
Before signing up with such platforms, you need to do due diligence as an investor. Make sure to investigate whether the platform does actually deliver on its promise. You end up losing your credibility and reputation over such partnerships.
You get to trade with five classes of trading instruments with the platform. These include commodities, crypto, forex, indices, and stocks. Commodities include household goods such as coffee, sugar, wheat, and more.
With cryptocurrency being a volatile market, it makes sense to have these assets. The platform pairs leading cryptos with major pairs. These include Bitcoin, Dash, Ethereum, Litecoin, Ripple, and more.
Forex trading happens to be at the core of the platform’s trading activities. You get to trade major and minor assets. There’s no mention of leverage as the platform promises tight spreads on these assets.
Indices give day traders a chance to trade in the world’s market stage. Some of the indices to find include DAX, Dow Jones, NASDAQ, and more. So you get to trade and impact the prices of global products.
Stock trading is another important aspect of trading. The platform avails shares from leading companies. These include companies from all sectors such as manufacturing and tech. You get to trade shares of global giants such as Microsoft and Tesla.
We don’t have any valid business registry of the platform anywhere on the planet. And this makes RoboFXMarkets an anonymous investment platform. Despite claiming to have offices worldwide, there’s no document to prove compliance.
These are some of the features investors don’t bother checking with platforms. You need to know who owns and runs a platform before signing up. The platform is silent on staff members working for the platform.
There's a client testimonial section to fool investors into believing the platform works. These are comments published by the platform to solicit new members. It would be best to stop believing these comments as they are not independent sources.
Expect no contact or support from staff members. The platform fails in its duty to offer support to members. The phone number only goes through when you are a new member. Once you deposit funds, the platform blocks your number.
There’s no deposit safety when it comes to investing with unknown platforms. The platform doesn’t segregate accounts as dictated by trading regulations. In addition, there’s no insurance cover for deposits made by clients.
RoboFXMarkets is not a valid platform as it fails to get a license from regulators. The platform uses false regulation claims from CySEC and the Financial Conduct Authority. Please avoid anonymous and unregulated platforms.
After exposing all the red flags, we recommend against investing with robofxmarkets.com.
You should do yourself a favor and invest in real options. Go for the best investment options the industry has to offer.
If you have any queries, feel free to drop a comment or write to us.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.
0 Comments