RoboticsForex review will tell you how dishonest a trading company can be. Their website is legitimate-looking, and without doing thorough research you would believe their word of being credible. They claim to be regulated by many financial authorities, and they don’t use clickbait which is usual for scam brokers. We are dealing with a sophisticated scam.
The first bad sign is that we were able to access the user area, via a registration process, in a matter of seconds. The brokers that grant access so easily are usually those that are desperate for any kind of investment, from anyone. So, despite seeming like a good thing, a quick registration process is one of the worst things a broker can include.
That’s just one of many red flags about this trading company which we will explain in detail.
RoboticsForex Regulation and Fund Security
RoboticsForex claims to be located in Germany, in the town of Varel. Also, in the footer of the website they claim to be operating by the requirements of the Cyprus Securities and Exchange Commission (CySEC), the International Financial Services Commission, and the Financial Services of the Republic of Mauritius.
The CySEC and the Belize regulator both have nothing to do with RoboticsForex. This is not the end. In the license section of their website, they mention ASIC, FCA, FSCA, IFSC, BlackRock, Inc, Ameriprise Financial, Inc, and DFSA. It’s like they’ve listed every regulator body they could think of. Neither of them has anything to do with this scam broker.
Illegal brokers always claim to be regulated, but RoboticsForex took this to a whole new level. If we were to believe them, they would probably be the most regulated broker. Ever. Truth is very different, of course.
Trading Platform Used by RoboticsForex
RoboticsForex has a common web trader that is used by many unlicensed brokers we have encountered so far. It has none of the features one might expect from a more reliable piece of software like industry-standard MetaTrader 5. Some basic charting tools are offered, but there is no automated trading at all.
One of the problems with picking an anonymous broker is that they use manipulative software that shows some fictional trading. That way, it’s hard to tell whether it’s fake or real. This is a very common issue with most offshore CFD providers, which makes it very important to stick to licensed firms with good platforms.
Our list of legit brokers we recommend is at the end of this article. All of them use trading platforms that provide a great user experience. Besides being easy to download and install, MetaTrader has many trading capabilities and features that others simply don’t.
RoboticsForex Deposit and Withdrawal Process
The only payment method RoboticsForex accepts is crypto. We can’t say that’s shocking with everything we know about this broker company. Cryptocurrencies are a legit payment method, but it’s very concerning when a broker allows you only to use that method. The main issue is that these transactions are irreversible. Also, you don’t know who you are paying.
Anonymity is what scam brokers want. That’s why you never know what their real location is, you don’t know who their owner is, and why you can’t know who you are paying. The minimum deposit is very high and strange, as well – $150. Legitimate firms rarely take over $10 for a micro account. This is another potential scam sign.
The website does mention some withdrawal fees, but these commissions are not talked about. Everything about this trading company is a red alert. These are common steps for fraudsters. It’s no wonder why they are under strong scam allegations.
How Does the Scam Implement?
There are some common steps that financial swindlers take, and we are going to talk about them.
If you’ve reached out of the sky about a forex investment opportunity, it’s most likely to be a scam. Never give away your personal information or transfer money to these firms. You can never know for what purpose they will use that information.
Investing always comes with some level of risk so any company promising investment opportunities without any risk of losing money is probably a scam. Remember, if it looks too good to be true, it probably isn’t.
Scam brokers often promise to make high returns from your initial deposit that may seem life-changing. Any company that offers quick and easy returns is likely to be fraudulent.
When a company tries to pressure you into investing right away, it’s probably a fraud. Most scammers even offer bonuses or discounts to persuade you to invest right away.
Scammers are more and more often using social media to advertise fraudulent investment opportunities. They often use fake images and videos of luxury items to trick people into investing.
The Best Forex Brokers
Since we’ve spent more than enough time on this scam broker, we are going to devote a couple of sentences to real-deal trading companies. You’ve learned why it’s risky to pick a broker randomly.
We don’t want inexperienced people to get scammed, and that’s why we made a table of top-notch firms. High ratings, functional platform, all regulated. Everything an average user needs.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
RoboticsForex is an investment scam. This review has exposed this fraudster. They aren’t located in Germany, as they claim. And most definitely they aren’t regulated by the FCA, CySEC, and many other regulators they are naming on their website. These are authorities with high requirements that a shady business like this one could never meet.
It’s like they thought – the more the better. It would be better if they spent that time on finding a functional platform since they don’t have one. This is a scam if we’ve ever seen one.
FAQs About RoboticsForex Broker
Is RoboticsForex Legitimate?
This is not a legitimate broker company. This is just one of many investment scams we’ve come across.
What Are the Funding Methods at RoboticsForex?
The only payment method at RoboticsForex is crypto. That’s very dangerous.
Is my Money Safe with RoboticsForex?
Safety is not a thing that comes with RoboticsForex. They don’t even have a real trading platform.