An introduction to RoFx
Designed and created by a group of professional traders and software developers in 2009, RoFx is a profitable automated trading system. The EA has been showing consistent profits in the financial markets since 2010, and it guarantees an average 10% monthly return. The robot offers passive income to its users from the investment while being transparent and showing its trades. RoFx uses full computerization and is based on AI. It offers a low drawdown and provides compensation for the traders’ losses with the company’s reserve fund—the positive feedback on RoFx on financial forums intrigues. So here is the review of this EA.
The Basics of Automated Forex Trading
As implied by the name, automated forex trading involves EAs or robots trading on a specific instrument. It also includes copy trading and signals, but we will focus on trading robots. A robot can act as an indicator to point out the buy and sell points or execute the trade independently. While most EA providers in the market claim to bring you profitable systems, only a few can produce profits. Financial markets change very frequently, and it is not possible for all robots to deliver good performance under all market conditions.
The Functionality of Automated Forex Trading
An expert advisor typically requires installation within the experts’ directory of MetaTrader software. The robot opens or closes positions according to the set algorithm. Based on the set inputs, the trading software can work fully automatically. The traders can test an EA by using the backtesting feature on a demo account as it proves whether the EA is profitable or not.
Forex Robot Scams
The financial markets have always been full of scams since the beginning of the trading era. Scammers mainly target novice and inexperienced traders with their “Get rich quick” and “Earn without working” manipulation. They also put out various trading robots assuring 100% or more monthly return while the robots cannot even produce any gain in reality. These EAs are poorly programmed, and they neglect the inconsistency in the market.
Advantage of Automated Forex Trading
- A great source of passive income
- Elimination of human traders’ emotions during a trade
- Greater risk management with stop loss and take profit orders
- No time limits: everything is taken care of by the EA
- No need to be a trading expert
- Quick backtesting providing results within minutes
- Failure of the internet connection being irrelevant
Risks of the Automated Trading System
- EAs working without a stop loss may cause enormous risks.
- Many EAs ignore grave political and economic news.
RoFx – Is the company legitimate?
RoFx is a growing fintech company. The company has offices in the UK, US, and Hong Kong, along with its head office in the UK. You can visit them any time after making an appointment. They also hold an annual conference, especially for the VIP clients. However, an average client can also attend it by requesting the support team.
The company does not need to be regulated because it is a software company that develops AI. However, it partners with top brokerage firms in Europe, America, and Asia. This is enough proof that RoFx is a legitimate company.
How Is RoFx Different From Common Trading EAs?
Compared to other trading robots available in the market, the trading process offered by RoFx is fully automated. You only have to deposit your money and you can let the EA take care of everything else. You can deposit money in the account by the US dollars, Euro, or Bitcoin. Unlike with other trading software, RoFx users do not have to go through the hassles of installing and customizing the settings themselves.
- Simple user interface. You can access the service via the official website of RoFx. Different lucrative packages with low-performance costs are at your disposal. You can get a minimum of 50% daily profit with the base package, which can be increased up to 95% by increasing your investment. With this user-friendly interface, anyone with little or no knowledge about forex can trade efficiently.
- Brilliant algorithmic trading. RoFx has been producing consistent profits over the last ten years with its intelligent algorithmic trading. The self-learning neural network of the robot helps it to scan the charts and information in the markets continuously so it can learn how to be more profitable. The fully automated system only needs a computer and the deposit money to start trading.
- The long track record. Throughout the last ten years, the system has shown pretty great proof of its profitability. The official site of RoFx displays the robot’s daily and monthly gains, which Myfxbook, the reliable forex site displaying any trading account history, verifies consistently.
- Risk-free investment. You will not lose your money when you are using RoFx EA. On the Myfxbook page, you can see a monthly analytics chart depicting the performance of their algorithms for the previous years. The results do not show any month in the negative, which is already enough proof that the robot works fine. Even if there is a loss, the company backs it up with their reserve fund, so the users do not have to lose any money. Unlike most trading robots, RoFx does not use risky strategies or leverages. Instead, it uses stop loss in trades to avoid risks.
- 24/7 customer support. The developers of the most famous trading robots like Hamster Scalping, GPS, and Odin miss the importance of a decent customer support service. RoFx, however, offers responsive customer support that is available through the mail and live chat 24/7.
More Information About RoFx
The fully automated trading system RoFx does not require you to download the software. To access its service, you need to visit the website, sign up for an account, and deposit the minimum amount to trade, which is $1,000. After that, the robot will handle the rest. You can monitor its work by logging in and determine the amount of gain with the robot’s profit calculator.
Traders can withdraw their money from their account easily with the minimum cash out of $1,000. If you want to withdraw a lower amount, however, you need to use Bitcoin from the exchange option in your account menu. RoFx does not charge any fee for withdrawal, but the bank charges a commission if you want to withdraw your money after the package has expired. The good thing is that the company pays this commission. So, you can withdraw any amount any time you want.
Deposit options are even simpler than withdrawal because traders can easily fund their account using bank transfer, credit card, or Bitcoin. US customers can also use Domestic ACH.
Most tested robots available in the market give wonderful results over a certain period, but they fail to keep the good performance up for a long time. It is ridiculous that they claim 200% monthly gains with little to no backtesting history. Amateur traders who do not have any knowledge or experience in trading are easily trapped in the schemes of the scammers.
RoFx, on the contrary, offers a simple and straightforward concept with an easy-to-use interface and transparent website. The EA shows enough credibility with verified records on Myfxbook, impressive daily gains, and 24/7 customer support. The 8%-10% monthly gains it offers would be enough to make any professional trader happy.