RoFx is an automated trading system designed and developed by experienced traders and software developers in 2009. The forex robot had started showing consistent profits from trading since 2010 with a 10% monthly return approximately. It offers passive income resulting from traders’ investment and shows transparent results of the robot’s trades. Fully computerized and AI-driven, this trading EA has excellent risk management. Apart from offering a low drawdown, the company’s reserve funds compensate for the losses of the traders. This drives traders to leave good feedback on financial forums. So, we reviewed RoFx to see if it really works.
What Is the Meaning of Automated Forex Trading?
As suggested by the name, automated forex trading involves trading EAs or forex robots to trade on a specific instrument. It includes incorporating different trading strategies, copy trading, and signals. An EA can point out when to buy and sell acting like an indicator or independently carrying out the trades. Most trading robot merchants claim that their systems are profitable, but only a few are useful. The forex market is volatile, and a robot performing great under certain conditions may fail in others.
The Functionality of Automated Forex Trading
A forex robot is commonly installed within MetaTrader software’s experts’ directory. Afterward, trades are opened or closed by the trading software according to the set algorithm. EA software may work fully automatically on the set inputs. The trader can test whether the automated trading system is profitable by using the Backtesting feature.
Forex EA Scams
Every sector of financial markets is always full of scams. Novice and amateur traders are often tempted to make money quickly without working and scammers take advantage of this temptation. Many trading robots in the market claim 100% return within a month when they cannot even generate 10% in reality. These robots are poorly developed, and they ignore the market conditions and its inconsistency.
Pros and Cons of Automated Forex Trading
|A brilliant source of passive income||Economic and political news ignored by most robots.|
|Superior risk management with take profit orders and stop-loss||Trading account being at massive risk by EAs working without a stop loss.|
|Everything being taken care of by the EA during the absence of the trader|
|Elimination of human emotions|
|Failure of internet connection not being an issue in certain cases|
Is RoFx Legitimate?
RoFx is a fintech company with the head office in the UK, and offices also in the US and Hong Kong. You can visit the office by making an appointment. The company also holds its annual conference for the VIP clients that an average client may also attend by requesting the support team.
Since RoFx is a software company developing AI, it is not required to be regulated, but it is linked with top brokerage firms in Europe, America, and Europe. Thus, it qualifies to be a legitimate company.
What Makes RoFx Different from Other Trading Robots?
Compared to other trading EAs available in the market, RoFx offers a much better autonomous trading system. All the client needs to do is deposit the money in the trading account, and the EA takes care of the rest. You can fund in US dollars, Euro, or Bitcoin. While using RoFx, you do not have to install and customize settings like other robots. Important features of RoFx that make it better than other EAs include –
- A long history of track records: For the last ten years, RoFx has proved its profitable trading software with its track records. You can visit the official website of RoFx to view the EA’s daily profit and monthly gain. The results are verified by Myfxbook, a reliable forex site that shows the trading history of any account.
- Easy user interface: It is easy to use RoFx and access the service through its website. The company offers several packages with low performance fees. The base package provides at least 50% of the daily profit. As you increase your investment, the daily profit increases by up to 95%. Any trader with little to no knowledge and experience in trading can trade efficiently with RoFx.
- Excellent automated trading: the intelligent algorithmic trading provided by RoFx over the past ten years is generating profits consistently. The developers of the robot have offered a self-learning neural network so it can scan the information and charts in the markets and learn how to be more profitable. The process is fully automated and it only needs a computer and funding into the account.
- Investment at no risk: You can invest with RoFx without the fear of losing your money. Users can see the monthly analytics chart displaying the trading performance of RoFx at Myfxbook. From the results, you can see that no month is negative, which proves that the EA works. When a loss takes place, the company’s reserve fund backs it up so the traders do not lose money. Most trading robots in the industry use complicated and risky strategies and work without stop loss, resulting in blowing up the client’s trading account. However, things are different with RoFx. This robot uses stop loss and does not utilize leverage.
- 24/7 customer support: Unlike other popular trading robots like Odin, GPS, and Hamster Scalping, RoFx has responsive and helpful customer care support that is available 24/7 for the clients. You can also contact them directly via live chat.
More Information about RoFx
You do not need to download this fully automated trading software to use it. All that is needed to be able to access it is by visiting the website, signing up for an account, and depositing money in the account. The minimum investment for a RoFx trading account is $1000. You can track the robot’s trading by logging on. There is a profit calculator that can be used to determine the amount of gains.
The company provides easy withdrawal with a minimum cash out of $1000. However, you can withdraw a lower amount if you use bitcoin with the exchange option in the account menu. RoFx does not charge withdrawal fees. If your package expires before you withdraw your money, the bank charges a commission paid by the company. So, users can withdraw their money whenever they want.
It is even easier and straightforward to deposit money in your account. You can do it by using bank transfer, credit card, and bitcoin. Domestic ACH is available for US customers.
There are many tested robots in the market that offer excellent trading results for a certain period. Still, they fail to maintain the consistency of that performance for an extended time. Moreover, the robots offer ridiculous claims like giving 200% gain within just a month and they cannot provide backtesting history to prove their claim either. Beginners and inexperienced forex traders are often scammed by these frauds. RoFx, however, offers a transparent and simple concept with an easy user interface. The company shows enough credibility through verified records on Myfxbook, daily and monthly gains, and 24/7 customer support. The 8%-10% growth within a month provided by RoFx is enough to make even a professional trader satisfied.