Computers and robots have taken over the planet. It is not surprising that a robot can do even trading. This review aims to look at RoFx, a fully automated trading solution that aims to provide traders, both professionals, and individuals, with the help they need.
Forex is one of the most liquid markets in the world with more than $6 trillion in daily trading volume. With this kind of liquidity, the opportunities to make profits in this market are endless. This is the reason why most of the traders prefer this financial market over others. Also, the Forex market is more stable. For instance, the ongoing Covid19 pandemic had negatively impacted the stock market and positively impacted the crypto market. But the Forex market almost remains unaffected.
Having all these said, it is crucial to know that it requires years of practice and patience to learn speculating the market. Hence, for novice traders, it would be a distinct dream to make profits from this market right from the beginning. Also, for the people who want to just invest in this high potential market, they need to depend on other professional technical traders who charge high commissions.
For all these problems, algorithmic trading has shown a viable solution. In this form of trading, a robot is designed with a specific set of codes embedded in it. Depending on those instructions, the bot will take the trades with less to no human intervention is required. In this review, we will be going through a company which is a pioneer in providing trading bot services – RoFx
RoFx Company Profile
The journey of RoFx started way back in 2009 when the rise of algorithmic trading was just over the edge. From our research, we understood that this company had been incorporated by a set of traders and programmers with a very clear vision of providing premium expert advisory services to customer all over the world. In its first year (2009), the services weren’t made public as they wanted to backtest their bot in different market situations.
Later in 2010, after gaining much confidence over the product they made, the services were made public, and there was no looking back ever since. Below we can see a simple bar chart of the profits made by this bot ever since its inception.
Unlike the typical trading bots out there with a specific line of codes, RoFx is designed to be updated regularly. The revolutionary technology that enables RoFx to keep up to date is the artificial intelligence and self-learning neural network that is embedded within the system. This particular feature allows RoFx EA to analyze data from various sources such as liquidity providers, Forex brokers, online media, and even from the posts from well-known social networks.
Apart from this, the team behind RoFx continuously updates their EA with brand new trading strategies so that the bot won’t become obsolete. With all these inputs, the performance of the bot will only appreciate, and it can be seen in the profits that are generated by this EA. Even though RoFx has become profitable in its very first year of operations (2010), the company continue to update its EA, which is commendable.
Is RoFx lawful?
RoFx accord with laws and its correlation with legal top-notch brokerage firms of America, Asia, and Europe indicates its legality. Although there isn’t a need to directly regulate RoFx, it is still modulated by officials. The correspondent brokers are licensed and are routinely inspected by the concerned authorities. However, RoFx is serving as a software house and provides solutions related to deep learning technology.
Negative Balance Protection
RoFx bot automatically incorporates the applications of highly accurate stop-loss placements to reduce the loss in adverse situations. This risk management ensures fund safety and avoids user accounts from getting liquidated.
Loss Coverage Guarantee
This is arguably the bravest claim an Expert Advisor company can make. We are saying this because the markets are unpredictable. We never know what may happen when and unless they have the utmost confidence in their product, they won’t be making this claim. What this means is that you will never be losing any money that you have deposited with RoFx. The company guarantees security for your deposits and ensures to refund the loss caused by the bot (if any). So in simple terms, there are zero risks involved when using RoFx services.
2 Factor Authentication
To protect your funds that are in your account, RoFx uses 2FA method to provide additional security. You can add your mobile number and approve with an OTP to login and make withdrawals, etc.
There is a possibility where an intruder might secretly keeping a watch on your trading activities and wait for the right moment to hack your account. To avoid that, your previous login/withdrawal information along with the corresponding IP address where the activity is performed can be tracked right fro your RoFx dashboard.
RoFx do not use leverage to maximize profits and only its own funds and customer funds to trade the markets. This is to avoid huge losses and protect the capital in unforeseen situations.
We found the user interface of RoFx to be simple and straightforward. Traders with zero experience will find this pretty helpful. As you can see below, the options are laid out in a simple manner for the users to access.
Below is the main page of the dashboard, and you can clearly see your available balances in each of the currencies selected by you. Also, creating a new package can be done in a few simple clicks, as shown below.
For the quick view, all of your available packages and balances can be seen on the dashboard, and the funding to those packages can be done instantly.
Facts & Figures
The credibility of any Expert Advisor service can be evaluated by the profits earned by it over the years. Below charts illustrate the impressive results produced by this bot over the years. If you can see, RoFx has produced 90%+ profits in all of the last five years. The average monthly profit is also above 8%, which is appreciable.
The below illustration represents the profits generated by this bot in the past five days, and we can see all the gain percentages and not ending a single day with a loss.
In the past ten years, RoFx bot has generated more than $57 million in profits for its users with an impressive gain percentage.
The main currency pairs that are in play are GBP/USD and EUR/USD. In the below snapshot, we can see that this bot has generated more than a million in profits in the first ten days of August month.
More details regarding the same can be found on RoFx myfxbook page.
Three different types of packages are offered by RoFx for their clients, and they are Basic, No Lock and Advanced Compound packages. We personally found the advanced compound packages to be interesting as the performance fee is low and share in daily profits are pretty high comparatively. For any of these packages, the entry is just limited to $1000 (trial). This allows easy entrance for even novice traders to try this premium EA service.
More details regarding this can be found here.
RoFx has a trust pilot score of 4.1, which is way above average. The customer support is great too. The team works 24/7, and you can reach out to them via phone, email, consumer support request form and via live chat option.
Office addresses and corresponding phone numbers can be found below.
For email support, you can reach out to the below email address.
For detailed queries and complaints, you can use the request form, and you can expect a reply within 24 hours.
We found the live chat option to be the best way to get quick support from RoFx. You can find this option as soon as you open the official website on the right bottom corner. As you can see below, the response time is pretty quick, and we got answers that are relevant in less than a minute.
Still a profitable bet in 2020?
The answer is yes, of course! If you are interested in investing in advanced technologies and looking for a risk-free investment, RoFx is for you. This company is crypto-friendly as well because you can make deposits and withdrawals in cryptocurrencies. Also, RoFx can diversify your portfolio if you are a professional Forex trader and generate constant passive income. You do not have to worry about the security of your funds because 50,000 active clients can’t go wrong. Profitable trading!
RoFx: A Trustworthy System
ROFX is a system that everybody can trust. Trading has never been this easy. With the ability to track your account and the simple interface developed with the system, trading can be fun and exciting. All that you must keep in mind is the fact that you always have the option to find and contact users of the system to see how legitimate the system is. ROFX is a trustworthy system that brings trading into 21st-century technology.