Stay on your toes.

Further to my review below, and in response to roboforex representative.


1. I do not care how you determine your swaps. I do not trade with your liquidity provider. I trade with Robo-forex. Changing swaps 13 minutes before rollover is not an acceptable practice. I suggest you take the issue up with your LP because they are making you look very bad.

2. I took my funds commission free because I found a way to meet your unreasonable trade volume requirements. That does not excuse the issue.

Apr 18, 2019 - 2 Stars I have been involved with Roboforex on and off for about 2 or 3 years now. I have been relatively happy with them until recently when I had a very unpleasant experience, in which they fell short of my expectation.

1. Last Friday night they adjusted their swap rates, which is well within their rights, however, they purposefully elected to this 13 minutes before the rollover period (and market closure for the weekend). I was carrying significant USDCHF shorts which had a carry cost of about 25 euro / day. They pumped that up to 5 fold to 125 euro. I was forced to either pay up or close my positions with no choice of timing or spreads which resulted in significant cost to me. Any reasonable broker would adjust their swaps early in the trading day in order for the trader to make an informed choice when he decides to execute the trade.

2. After the change in swaps, I decided to withdraw my capital as I have no interest in trading anything else and they made the USDCHF too expensive for me to trade. 4.2% withdrawal fee on my capital. They refer to the following clause in the T & C: -

"13.15 The Company reserves the right to deduct from the account an amount paid to the client in compensation, if the account does not embrace sufficient trade volume"

According to Them, in order to withdraw 8000 euro, I would need to trade 33.6 standard lots.

Given the fact that they have changed their trading conditions (swaps) I view it as my right to withdraw all my funds. Their insistence on 33.6 lots of trading in order to withdraw 8000 euro amounts to an irresponsible enticement to trade when it may not be in the traders interest.

Moreover, the withdrawal was done on the 3rd Tuesday of the month which they advertise the free of charge (normal fee is 1.9%). Assuming I give them the benefit of the doubt, it means that on any other day they would have charged me a little over 6% for my withdrawal to Neteller. Frankly that is pure highway robbery and any broker that charges so excessively should be avoided.

Reply by Manager RF submitted Apr 22, 2019 Dear Client,



The values ​​of swaps are not set by the broker but by liquidity provider of the broker. The broker pays swaps to liquidity provider in accordance with the current trading conditions. So, in case the liquidity provider is changing swaps, the broker has to immediately make its own trading conditions equal to the liquidity provider's conditions.

Thus, the currency pair was changed as soon as the liquidity provider informs the Company.



Regarding the commission for withdrawal, as we see, the commission was not charged from you and the additional requirements to withdraw for free were implemented to you.



Regards,

RoboForex