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Contract reading

What RoboForex legally published, but does not want you to read

Every clause below is published by RoboForex itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: RoboForex Ltd

sole discretionhidden feebonus lockwithdrawalsdeemed acceptancejurisdictionkyc freezeprofit voidingclient moneycomplaint deadline

RoboForex sells negative balance protection as fund safety. Its contract calls it a promotional program it can cancel without reason. A negative balance then becomes a debt you pay in two business days. You get one working day to dispute a trade, judged on RoboForex's own server logs.

Back to RoboForex

Contract risk

Money at risk
7.8/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
11
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
9

How the 18 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical5
Warning8
Notice5

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2 working daysIn the contract. Jump to the clause this comes from.Negative balance protection is a promo, not a promiseCritical1 working daysTime to complain. Jump to the clause this comes from.One working day to dispute a tradeCritical$30Bonus requirement. Jump to the clause this comes from.Any promotional benefit can be cancelled with your trades3Fee you were not shown. Jump to the clause this comes from.Withdrawals are free on three Tuesdays a month

What the documents say

18 clauses worth knowing about, worst first, each quoted from RoboForex's own files

01

RoboForex advertises that it tops your balance back to zero and you pay nothing for it. Its own page calls that a promotional program it can deny without giving a reason. Clause 3.8 then gives you two business days to pay any shortfall yourself.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

If RoboForex drops you from the program, a gap in the market can leave you owing it money. You must pay within two business days of the debt arising, and clause 3.9 lets RoboForex take it from your other accounts.

Exhibit 1CriticalHarder than usual2 working days

If the Client has to pay the Company an amount exceeding the equity of their account, such amount shall be paid within two (2) business days from the date of incurrence of the Client’s obligation.
Clause 3.8 in Client Agreement, p.6
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA, and firms under ESMA rules, must give retail clients negative balance protection as a standing right the firm cannot withdraw. RoboForex offers it as a promotional program and reserves the right to deny access without giving a reason.

RoboForex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 4The debt created by clause 3.8 is the same debt clause 3.9 lets RoboForex collect from accounts it links to you.
  • Only applies after Exhibit 5Protection only stops mattering once RoboForex uses clause 1.13 to cancel the promotional benefit it is built on.
02

RoboForex can pass your money to third parties who hold it mixed with their own. Its risk disclosure says your funds cannot then be clearly separated, and that if such a third party fails you hold only an unsecured claim.

Why this matters

The page headed Security of Clients' Funds tells you the security is guaranteed. The document behind it says RoboForex accepts no responsibility for a third party that loses your money, and that a depository may hold a lien over it.

Exhibit 2CriticalHarder than usual

Third parties holding Client funds may maintain them in omnibus accounts, where the Client’s funds cannot be clearly separated from other clients’ funds or the third party’s own funds. In the event of insolvency or equivalent proceedings involving the third party, the Company may have only an unsecured claim on behalf of the Client.
Clause 6.3 in Risk Disclosure and Acknowledgements, p.9
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must hold retail client money in segregated accounts, kept apart from the firm's own funds, and must say where it is held. RoboForex publishes no segregation clause, and its risk disclosure allows pooling with a right of set-off.

RoboForex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

03

You get one working day to dispute anything in your daily trading statement. Miss it and clause 14.6.2 says RoboForex will not accept or process your claim at all.

Why this matters

The clock starts when the statement reaches you, not when you spot the problem. A weekend away, and the trade you wanted to challenge is closed to complaint for good.

Exhibit 3CriticalRarely seen1 working days

If the Client has not disputed transactions mentioned in the daily trading statement within one (1) working day from the receipt of said statement.
Clause 14.6.2 in Client Agreement, p.18
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must accept complaints for years after the event and give retail clients access to an independent complaints scheme. RoboForex refuses a claim raised more than one working day after the daily statement, and decides it on its own server logs.

RoboForex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingComplaint windows in retail trading contracts are normally measured in months. One working day, running from an automated daily statement, can close before a client has opened the email.

  • Worse together with Exhibit 12The one day clock keeps running while your Members Area is blocked, and the Members Area is the only place a claim can be filed.
04

A negative balance on one account lets RoboForex move money out of your other accounts to cover it. Clause 3.9 goes further, reaching any other Members Area it believes is connected to you.

Why this matters

Someone else's loss can be paid out of your balance if RoboForex decides the two of you are connected. The clause needs only its own belief in a connection, sets no test, and requires no notice to you.

Exhibit 4CriticalRarely seen

If the balance of the Client’s account is negative, the Company shall have the right to pay off this negative balance without future authorisation by way of a transfer of funds from any other account of the Client’s Members Area, or from an account of any other Members Area if the Company believes that there is a connection between this Members Area and the Client.
Clause 3.9 in Client Agreement, p.6
Read from the broker's site on Archived copyOpen the reference

Our readingSet-off across separate account holders is a commercial lending device. In a retail trading agreement it means the broker's belief about a relationship is enough to reach money belonging to someone who did not incur the debt.

05

RoboForex advertises a $30 Welcome Bonus whose funds are not written off during drawdown. Clause 1.13 lets it cancel any promotional benefit at any time without a reason, and revoke every trade made with it.

Why this matters

Profit you made with bonus funds, cashback or rebates can be reversed. The contract defines a promo-bonus to include commissions, rebates and special conditions. Nothing in clause 1.13 requires RoboForex to explain itself.

Exhibit 5CriticalHarder than usual$30

The Company has the right to, at any time and without any given reason, refuse to grant a promotional benefit or cancel/write off the previously issued promotional benefit from the account, as well as revoke (cancel) all transactions that have been made with the use of the promotional benefit.
Clause 1.13 in Client Agreement, p.5
Read from the broker's site on Archived copyOpen the reference
06

The promotions menu offers withdrawals at 0%, and the contract charges you on every other day. The free program covers one withdrawal each on the second, third and fourth Tuesday of the month.

Why this matters

Withdraw on any other day and you pay the transfer cost, which the contract never states as an amount or a percentage. RoboForex can also refuse the free program at its own discretion.

Exhibit 6WarningHarder than usual3

When withdrawing funds from the trading account, the Client is charged a commission fee for the funds' transfer.
Clause 3.6 in Client Agreement, p.6
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must tell a retail client what a service costs before they trade. RoboForex states that a withdrawal commission applies and publishes no figure for it in the contract.

RoboForex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7The turnover test decides which route your money may leave by, and the fee clause decides what that route costs.

Three fund-safety promises the contract does not keep

Clause 3.8 gives you two business days to pay a negative balance. RoboForex's Security of Clients' Funds page says it tops the balance to zero and you pay nothing for it. Its risk disclosure also lets third parties hold your money in omnibus accounts with a lien over it.

Promise and contract1 clause flagged

RoboForex sells swap-free trading as holding a position as long as you want with zero overnight fees. Rule 7 lets it disqualify you for trading to profit from the absence of swaps.

Why this matters

Once the status goes, rule 10 applies standard swap charges to positions you already hold. The strategy the page invited you to run is the one that can cost you the benefit.

Exhibit 15WarningHarder than usual

Use of the program for speculative strategies aimed solely at profiting from the absence of swaps may result in disqualification and subsequent cancellation of the Full Swap-Free status.
Clause 7 in Rules for Provision of Full Swap-Free, p.1
Read from the broker's site on Open the reference

Withdrawal costs live in the contract, not on the price pages

Clause 13.10 puts all the transfer costs of a withdrawal on you, and RoboForex never states the amount. Its free withdrawal program covers one withdrawal on three Tuesdays a month and can be refused at its own discretion. Currency conversion runs at RoboForex's internal rate.

Cost disclosure1 clause flagged

Withdraw in a currency other than your account currency and RoboForex applies its own internal rate. Clause 13.6 names no benchmark and no cap on the gap between that rate and the market.

Why this matters

A rate chosen by the firm paying you out is a charge you will not see on any statement. Only the R StocksTrader markup carries a stated ceiling, and that ceiling is 1%.

Exhibit 8WarningHarder than usual1%

When processing a withdrawal request, the Company shall use its internal currency rates that apply at the time of request processing.
Clause 13.6 in Client Agreement, p.16
Read from the broker's site on Archived copyOpen the reference

What it costsA $10,000 conversion at the 1% ceiling costs $100. On a deposit or withdrawal rate the contract sets no ceiling at all.

A turnover test RoboForex sets alone decides your exit route

Clause 13.11 limits you to withdrawing back to the payment details you deposited from, unless your trading turnover is enough. RoboForex decides what is enough at its sole discretion and publishes no figure. Clause 13.15 also lets it reclaim deposit fees it had covered.

Exit conditions1 clause flagged

Without enough trading turnover, you can only withdraw back to the card or wallet you paid in with. RoboForex decides at its sole discretion what counts as enough, and publishes no figure.

Why this matters

Deposit by a card that has since expired and the route out can close. RoboForex can also take back the deposit fees it had covered for you if it judges your turnover too low.

Exhibit 7WarningHarder than usual

If there is not enough trading turnover on the trading account, the Client has the right to submit a request for the withdrawal of funds only to the payment details from which the deposit was made. The Company determines, at its sole discretion, if the trading turnover on the account is sufficient for processing the request for withdrawal.
Clause 13.11 in Client Agreement, p.16
Read from the broker's site on Archived copyOpen the reference

RoboForex can reach accounts that are not yours

Clause 3.9 lets RoboForex cover a negative balance from any Members Area it believes is connected to you. Clause 13.3 refunds a third-party deposit with your losses deducted and does not pay out the profit. Neither clause sets a test you could argue against.

Money already earned1 clause flagged

Pay in from someone else's card and RoboForex can send the money back rather than let you keep trading it. Clause 13.3 takes your losses off the refund and does not pay out the profit.

Why this matters

A deposit from a spouse's card can be enough to trigger this. You get the principal back minus losses, you pay the transfer costs, and RoboForex can end the relationship at once.

Exhibit 11WarningHarder than usual

All losses incurred by the Client until the funds are deducted from the account are removed from the refund amount. The profit received by the Client until the funds are debited from the account is non-refundable.
Clause 13.3 in Client Agreement, p.16
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Third-party payment foundRoboForex can refuse the deposit or the withdrawal of it and ask you for more documents.13.3
While it checksRoboForex can block your Members Area and trading on your accounts.13.3
If you do not send the documentsRoboForex refunds the money by a method it picks, and you pay the transfer costs.13.3
On refundYour losses come off the refund, and the profit you made is not paid out.13.3
After thatRoboForex can end its relationship with you immediately.13.3

RoboForex can change your costs and your leverage without warning

Clause 4.13 lets RoboForex change spreads, swaps and dividends without telling you in advance. Amendments to the agreement take effect five working days after it posts a notice on its site. Clause 6.11 can hold advertised 1:2000 leverage down to 1:100.

Unilateral change3 clauses flagged

RoboForex can change your spreads, swap charges and dividend terms without telling you in advance. Changes to the agreement itself take effect five working days after it posts a notice on its website.

Why this matters

The cost of holding a position overnight can rise while your trade is open, and you find out afterwards. Nothing obliges RoboForex to email you first.

Exhibit 9WarningHarder than usual5 working days

The Company has the right to change the values of spreads, swaps (financing fee) and dividends listed in the contract specifications without informing the Client about it in advance.
Clause 4.13 in Client Agreement, p.8
Read from the broker's site on Archived copyOpen the reference

RoboForex advertises leverage up to 1:2000 on its standard and cent accounts. Clause 6.11 lets it declare a Leverage Restriction Period and hold you to 1:200, or to 1:100 around a scheduled break in trading.

Why this matters

You size a position for one margin requirement and RoboForex can change it before the news you meant to trade. It picks the instruments, the start and the length of the restriction.

Exhibit 10WarningHarder than usual

The Company has the right to determine the instruments to which a Leverage Restriction Period applies, as well as the commencement and duration of such period.
Clause 6.11 in Client Agreement, p.11
Read from the broker's site on Archived copyOpen the reference
Our own capture of roboforex.com, taken on Sep 2, 2026The claim, on Answer to the question on which types of accounts can I use the 1:2000 leverageVisit this page on the broker's siteDownload the full size image file

What it costsAt 1:2000, $1,000 of your own money supports a $2,000,000 position. At the 1:100 restricted level the same $1,000 supports $100,000.

The contract and the website disagree about where RoboForex will not work. Clause 4.19 leaves out Ukraine and Belarus, which the footer of every page includes, and both lists end with other restricted countries.

Why this matters

Neither list tells you for certain whether your country is on it. An account opened from a restricted country gives RoboForex a reason to act against it later.

Exhibit 16NoticeHarder than usual

RoboForex Ltd and its affiliates do not work on the territory of Australia, Bonaire, Brazil, Canada, Curaçao, East Timor, Guinea-Bissau, Indonesia, Iran, Japan, Liberia, Micronesia, Northern Mariana Islands, Russia, Saipan, Sint Eustatius, South Sudan, Svalbard and Jan Mayen, Tahiti, Turkey, the US, and other restricted countries.
Clause 4.19 in Client Agreement, p.9
Read from the broker's site on Archived copyOpen the reference

A chargeback query can block your account and your money

Clause 4.8 lets RoboForex block your Members Area and the funds on it until circumstances are clarified, with no time limit. Positions can be closed without notice while that runs. Clause 14.2 accepts complaints only through the Members Area you have just lost.

Freeze powers1 clause flagged

A chargeback request, or a question about where your money came from, lets RoboForex block your Members Area and the funds in it. Clause 4.8 puts no time limit on the block.

Why this matters

Your positions can be closed without notice while the block runs. The only route to complain is the ticket form inside the Members Area, which is the thing you have lost access to.

Exhibit 12WarningHarder than usual

The Company has the right to block the Client’s Members Area and their corresponding trading account until the circumstances are clarified. In this case, the Company may close all positions on the Client’s account without prior notice to the Client.
Clause 4.8 in Client Agreement, p.8
Read from the broker's site on Archived copyOpen the reference

Belize courts, with your objection signed away in advance

Clause 15.2 puts every dispute under the law of Belize, and clause 15.3.3 waives your right to challenge those courts. Clause 15.3.2 has you agree not to call Belize inconvenient. RoboForex requires a claim to the private Financial Commission before any court.

Forum waiver1 clause flagged

Any dispute you cannot settle goes to the courts of Belize. Clause 15.3.2 has you agree not to argue that Belize is inconvenient, and clause 15.3.3 waives your right to challenge those courts.

Why this matters

Suing RoboForex means litigating in Belize, whatever it costs you to get there. You must first take the claim to the Financial Commission, a private scheme the contract names in place of a regulator.

Exhibit 14NoticeHarder than usual

The Client shall not contest the jurisdiction of the Belize courts based on inconvenience or claim that the Belize courts lack legal authority over the Client.
Clause 15.3.2 in Client Agreement, p.19
Read from the broker's site on Archived copyOpen the reference

No conflict of interest policy sits in the document set

RoboForex publishes four legal documents and none of them is a conflict of interest policy. Its risk disclosure states that the banks and brokers it executes through may have interests conflicting with yours. Clause 4.10 lets RoboForex treat a trade as non-market.

Undisclosed conflicts1 clause flagged

RoboForex publishes four legal documents and none of them is a conflict of interest policy. Its risk disclosure does admit that the banks and brokers it trades through may have interests against yours.

Why this matters

You cannot tell from the documents whether RoboForex takes the other side of your trade. Clause 4.10 also lets it treat a trade as non-market when it sees objective reasons for doing so.

Exhibit 17NoticeHarder than usual

Banks or brokers through whom the Company executes transactions may have interests that conflict with those of the Client.
Clause 6.5 in Risk Disclosure and Acknowledgements, p.9
Downloaded from the broker's site on Open the reference

Forty-five untraded days can end a new account

Clause 2.5 lets RoboForex stop maintaining an account when you make no transactions in the 45 days after opening it. No notice step appears in the clause. It says nothing about what becomes of a balance left on the account.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Open an account, leave it untraded for 45 days, and RoboForex can stop maintaining it. Clause 2.5 sets out no notice period and no warning step.

Why this matters

Money you paid in while deciding what to trade sits behind an account RoboForex may close. The clause says nothing about what happens to a balance left on it.

Exhibit 13NoticeHarder than usual45 days

The Company has the right to terminate maintaining the trading account in cases where the Client has not made any transactions within the period of 45 days after it was opened.
Clause 2.5 in Client Agreement, p.5
Read from the broker's site on Archived copyOpen the reference

You contract with a Belize company, not the German one on the door

RoboForex Ltd in Belize is your counterparty, licensed by the Financial Services Commission under number 9759600. Its own documents print three different registered addresses, and card payments run through agents in Gibraltar and Cyprus. Clause 5.4 has you accept that no other regulator covers your account.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Your counterparty1 clause flagged

You contract with RoboForex Ltd in Belize, licensed by its Financial Services Commission. The same documents print three different registered addresses, and your card payments run through agents in Gibraltar and Cyprus.

Why this matters

The BaFin regulated company on the entry page is not the one you sign with. Clause 5.4 has you accept that no regulator outside Belize covers your account.

Exhibit 18NoticeStandard wording

The Client agrees that the Company's activities are subject only to the regulator in Belize, and are not subject to the jurisdiction of the supervisory authorities of the EU/EEA states and other countries, local regulatory authorities, Central Banks, Financial Market Commissions, and other similar organisations.
Clause 5.4 in Client Agreement, p.10
Read from the broker's site on Archived copyOpen the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The safety page says you pay nothing for a negative balance, and the contract gives you two business days to pay it.

Said in public, in English

In case the market volatility does not allow the client to keep a positive balance on his/her trading account, RoboForex Ltd automatically tops up the balance to 0 and the client does not have to pay anything for this.

Negative Balance Protection section of the Security of Clients' Funds page

In the contract · clause 3.8

If the Client has to pay the Company an amount exceeding the equity of their account, such amount shall be paid within two (2) business days from the date of incurrence of the Client’s obligation.

02

Spanish readers get the same protection promise, and clause 1.14 makes only the English contract official.

Said in public, in Spanish

En caso de que la volatilidad del mercado no permita al cliente mantener un saldo positivo en su cuenta de trading, RoboForex Ltd automáticamente pone el saldo a 0 y el cliente no tiene que pagar nada por esto.

Word for word in English: In case market volatility does not allow the client to keep a positive balance in his trading account, RoboForex Ltd automatically puts the balance to 0 and the client does not have to pay anything for this.

Protección de Saldo Negativo section of the Spanish Security of Clients' Funds page

In the contract · clause 1.14

The official language of all Company documents is English. Translations of documents into other languages are provided for informative purposes only.

03

Calling the protection permanent sits against a clause letting RoboForex cancel any promotional benefit at any time without a reason.

Said in public, in English

The ‘Negative Balance Protection’ is a permanent promotional program offered by RoboForex.

Opening line of the Negative Balance Protection page

In the contract · clause 1.13

The Company has the right to, at any time and without any given reason, refuse to grant a promotional benefit or cancel/write off the previously issued promotional benefit from the account, as well as revoke (cancel) all transactions that have been made with the use of the promotional benefit.

04

Security described as guaranteed on the funds page becomes an unsecured claim in the risk disclosure.

Said in public, in English

The funds' security is guaranteed by several important factors.

How clients' funds are safeguarded at RoboForex, on the Security of Clients' Funds page

In the contract · clause 6.3

Third parties holding Client funds may maintain them in omnibus accounts, where the Client’s funds cannot be clearly separated from other clients’ funds or the third party’s own funds. In the event of insolvency or equivalent proceedings involving the third party, the Company may have only an unsecured claim on behalf of the Client.

05

The 0% headline covers one withdrawal on three Tuesdays a month, and the contract charges you on every other day.

Said in public, in English

You have the opportunity to benefit from the Company’s unique program and withdraw funds from your account without any commissions.

Withdrawal Without Commission page, linked from the Promotions menu as Withdrawals at 0%

In the contract · clause 13.10

When withdrawing funds from the trading account, the Client is charged with all the costs for the funds' transfer.

06

The bonus page promises the funds are not written off, using the same phrase the contract uses to allow writing them off.

Said in public, in English

Welcome Bonus funds are not written off from your account even during "drawdown".

Listed under the heading No restrictions on the Welcome Bonus 30 USD page

In the contract · clause 1.13

The Company has the right to, at any time and without any given reason, refuse to grant a promotional benefit or cancel/write off the previously issued promotional benefit from the account, as well as revoke (cancel) all transactions that have been made with the use of the promotional benefit.

07

The page says the balance payments are not a bonus, and the contract's definition of a promo-bonus covers exactly this kind of payment.

Said in public, in English

The extra funds you receive are not the bonus, and it’s up to the client to decide whether to withdraw this money or use it in trading.

Listed under the heading No restrictions on the Up to 10% on account balance page

In the contract · clause Terms and Interpretation: Promo-bonus

Promo-bonus – any compensations, deposits, commissions, rebates, special conditions, etc. that were provided by the Company to the client within the framework of permanent promotional programmes, one-time promo programmes, individual agreements, affiliate agreements, etc.

08

Overnight fees return on positions you already hold once RoboForex removes your swap-free status.

Said in public, in English

Trade with no overnight fees

Swap-Free promotion headline, also used as the homepage tile link

In the contract · clause 10

Standard swap accrual conditions will apply to both new and previously opened positions from the date of the status change.

09

The advertised 1:2000 can be held down to 1:200, or 1:100 around a trading break, whenever RoboForex decides.

Said in public, in English

Increased leverage up to 1:2000 is available on all standard and cent RoboForex accounts.

Answer to the question on which types of accounts can I use the 1:2000 leverage

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of roboforex.com

In the contract · clause 6.11

The Company has the right to determine the instruments to which a Leverage Restriction Period applies, as well as the commencement and duration of such period.

What changed quietly

This is our first reading of RoboForex, so nothing here has changed since an earlier version of this page.

  • REWRITTENClause · 2021-08-12 to 2026-09-02

    The advertised civil liability cover halved, from 5,000,000 EUR to 2,500,000 EUR.

    RoboForex has implemented a Civil Liability insurance program for a limit of 2,500,000 EUR, which includes market-leading coverage against omissions, fraud, errors, negligence, and other risks that may lead to financial losses of clients.

  • REWRITTENClause · 2021-08-12 to 2026-09-02

    The share of retail accounts losing money rose from 58.42% to 75.85%.

    75.85% of retail investor accounts lose money when trading CFDs with this provider.

  • REWRITTENClause · 2021-08-12 to 2026-09-02

    The regulator name, the licence number and the registration number all changed between the two copies.

    RoboForex Ltd is a financial brokerage company regulated by the FSC, license No. 9759600, reg. number 000001272.

  • REMOVEDClause · 2019-11-20 to 2026-09-02

    The line tying RoboForex Ltd to a CySEC licensed company and a Belarusian one no longer appears on the page.

  • REMOVEDClause · 2019-11-20 to 2026-09-02

    The statement that another company owns the roboforex.com domain has gone from the page.

  • REWRITTENClause · 2021-08-12 to 2026-09-02

    Brazil, Indonesia, Iran, Ukraine and Belarus joined the territories RoboForex says it does not work in.

    RoboForex Ltd and its partners don't work on the territory of the USA, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, Ukraine, Belarus, and other restricted countries.

The documents this reading is based on

11 files, all published by RoboForex. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording RoboForex publishes.

How this reading was done

Every clause above was read out of a document RoboForex publishes itself

This reading was published on .

Documents
5 of 11downloaded from the broker's site, and 5 read in full
Pages opened
80pages walked to find those documents, footer links included
Older copies
3earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Languages
EN vs ESthe language it advertises in, against the language it contracts in

Who the contract is with

RoboForex Ltd

RoboForex Ltd, registration number 000001272, licensed by the Financial Services Commission of Belize under number 9759600, is the company you contract with. The entry page also names RoboMarkets Deutschland GmbH, a BaFin regulated German company, and European retail clients are sent there instead. Your card payments run through RoboGate Ltd in Gibraltar and RBRIDGE LTD in Cyprus. The Financial Commission named in clause 15.1 is a private dispute scheme with a 20,000 EUR per case fund, not a regulator. The company's Belarus arm at roboforex.by has been in liquidation since 2022. Its own documents print three different registered addresses for the same entity.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

RoboForex publishes the client agreement, order execution policy, client money policy, risk disclosure and a full glossary as one 22 page file, free and without a login. Clause 13.14 commits it to transfer a withdrawal within two working days of confirming the request, which is faster than many competitors. Clause 13.20 says it covers the payment provider's commission on your deposits. Clause 13.25 caps the currency markup on R StocksTrader at 1%, a ceiling most contracts leave out entirely. The leverage page states openly that 1:2000 drops to 1:1000 once account equity passes $10,000. Every page carries the 75.85% retail loss figure, and rule 11 of the swap-free terms promises an email whenever your status changes.

Three web pages were downloaded for this reading: the Risk Warning, the Privacy Policy and the trading accounts page. None of the four PDFs on RoboForex's own Documents page were among them, so we went to that page and read the Client Agreement in full, all 22 pages. We read part of the General Risk Disclosure, its contents, introduction and the sections on client funds and financial instruments, and part of the Terms of Personal Data Processing. We did not read the Partner Agreement, the EU/EEA declaration or the UK declaration at all. The account comparison table on the trading accounts page never loaded for us, so stop out levels, minimum deposits and how long each account type keeps your trading history sit outside this reading. No earlier copy of the Client Agreement exists to compare against, so we cannot say which of its clauses are new. We did not record how deep in each document a clause sits, because the findings come from the PDF contract and we cite those by page instead. roboforex-cn.org redirects to the English site and roboforex-china.com returned nothing, so there is no separate Chinese contract to hold against the English one.

How to check any of this yourself

Every quote above links to the RoboForex file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document RoboForex publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge RoboForex on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 2, 2026.

If you represent RoboForex and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on RoboForex. Whether its licence is real and current is a separate check on the broker profile.

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