There are many forex brokers in existence today. When choosing a broker, you will need to investigate their regulation status, the instruments they offer, as well as the fees they charge for their services. This is in order to ensure that they are well suited to cater to your trading needs, as well as make sure your hard-earned capital is in safe hands. Justforex and RoboForex are among the most popular brokers, but how do they compare?
About Justforex
Established in 2012, Justforex is a forex broker duly registered and regulated by the Financial Services Authority (FSA) of St. Vincent’s and the Grenadines. By registering with them, you can choose among 7 types of accounts that they offer. There are more than 150 asset classes to choose from, and traders get to utilize the internationally acclaimed MetaTrader platforms for their trades. The platform also features several educational and analytical articles.
Perks and features
Tradable instruments
Justforex offers a selection of over 150 instruments, among them 60 currency pairs, various commodities, indices, shares, and crypto.
Deposits and withdrawals
There are several payment methods that are supported by this broker. They include credit and debit cards, Fasapay, Neteller, Alipay, Bitwallet, Sticpay, as well as bank transfers. What’s more, there are no deposit fees.
Software
Traders using this broker can trade on the MetaTrader 4 and 5 platforms. They also have the choice of using the iOS and Android versions of MT4 if they prefer mobile execution.
Bells and whistles
On the Justforex platform are a few notable features, such as the news bar for fundamental traders. The broker also allows the use of expert advisors, as well as all indicators and tools compatible with the MT4 and MT5 platforms.
There is also a forex virtual private server (VPS) service, which enables placing orders with minimal latency. This enables faster trade execution, which means reduced execution time and slippage costs when using EAs. What’s more, social trading is supported for users of the MT5 platform, where they can copy trades of traders on the network.
Customer service
Justforex’s support is available in English, Chinese, Indonesian, and Malaysian all around the clock. Their customer support can be reached by live chat, telephone, email, and social media apps.
Educational and research material
The Justforex platform contains a range of educational articles and video tutorials for novice and expert traders alike. There is also a forex glossary that defines various terminology. Additionally, the research and analytical articles on the platform contain recommendations on various asset classes, as well as an economic calendar for fundamentals.
Account types offered
Justforex offers 7 types of accounts, namely:
1. Standard account
This requires a $100 minimum deposit, and traders enjoy leverages of up to 1:3000 and spread as low as 0.1 pips. The instruments offered are 57 currency pairs and 2 metals.
2. Pro
This account charges no commission, and with a $500 minimum deposit, traders can access leverages of up to 1:3000 and spreads from 0.1 pips. Tradable assets include 57 currency pairs, 4 metals, 65 shares, 25 futures, 11 indices, and 2 energies.
3. ECN Zero
This account is based on commissions, and it requires a minimum deposit of $500. Leverage is capped at 1:500 and spreads can go as low as 0 pips. Assets offered are 84 pairs and 2 metals.
4. Cent
This account charges no commissions and no minimum deposit requirements. Leverages can get up to 1:1000, and spreads start from 0.3 pips. Subscribers get access to 34 forex pairs.
5. Mini
Mini accounts charge no commission and no minimum deposit. Their leverage is capped at 1:3000 and spreads start from 0.3 pips. Assets offered include 34 pairs and 2 metals.
Justforex also offers a demo account and an Islamic account that charges zero swaps.
| Pros | Cons |
| Offers zero commission accounts. | Has offshore regulation, which is less stringent. |
| Has a wide range of tradable assets | No MetaTrader MAC version. |
| ECN is available for forex | |
| It offers leverage up to 1:3000. |
About RoboForex
Established in 2009, RoboForex is a broker regulated by the IFSC of Belize. It offers more than 12,000 tradable instruments of various asset classes. It is compatible with the MetaTrader platforms, cTrader, and their proprietary R StocksTrader platform.
Perks and features
RoboForex offers free deposits, which can be done through wire transfers, debit and credit cards, Neteller, Skrill, PerfectMoney, and AdvCash. Withdrawal fees may vary depending on the means and the instrument being traded.
Software
Deposits and withdrawals
RoboForex supports MT4 and MT5, as well as cTrader and R StocksTrader. All of these platforms also support mobile trading, which RoboForex readily obliges.
Bells and whistles
Some notable features of RoboForex include CopyFX, which enables copy trading, and R Strategy Builder, which enables traders to build robots with no programming knowledge required. There is also a VPS that offers low latency and 24/7 uptime for the aforementioned robots. It also comes with all the features of the platform the trader chooses.
Support
RoboForex offers round-the-clock support in more than 10 languages via phone, live chat, email, and a horde of social media platforms.
Education and research
This platform contains several educational materials ranging from articles to videos, glossaries to trading strategy descriptions and examples. Research-wise, they have a fairly wide offering from analytical articles to an economic calendar, weekly forecasts of forex pairs, to various market reviews.
Account types
- Prime – Commission-based, $10 minimum deposit, spreads from 0 pips, leverages up to 1:300.
- ECN – Commission-based, $10 deposit, spreads from 0 pips, leverages up to 1:500.
- R StocksTrader – Commission-based, spreads from 0.01 USD, $100 minimum deposit, leverage up to 1:300.
- ProCent – No commissions, $10 minimum deposit, spreads from 1.3 pips, 1:2000 maximum leverage.
- Pro – No commissions, $10 minimum deposit, spreads from 1.3 pips, 1:2000 maximum leverage.
Islamic and demo accounts are also available.
| Pros | Cons |
| It has a long history of operation and numerous satisfied traders. | Has offshore regulation, which is not as strict. |
| It has a wide range of account types to choose from. | Charges high fees for stock CFDs |
| The broker supports numerous platforms. | |
| It generates free signals and research material. | |
| Powerful trading capabilities |
Conclusion
From the above comparison, we have established that Justforex and RoboForex are both efficient brokers capable of meeting most traders’ needs. The choice between them boils down to personal preferences. RoboForex shines in the number of tradable assets it offers, the languages its customer support comes in, and the multiple platforms it supports. It also allows users to build forex robots with no coding skills required. Justforex, on the other hand, is superior in its offering of cryptocurrency and higher leverage.
