Developed by experts, RoFx was introduced in 2009 as a robot which would help in making profits and generating passive income. Ever since its launch, the robot has never failed to deliver profits as per the expectation of the users. The robot has offered 10% monthly returns on an average ever since its launch. The robot uses the original investments and aims to offer a stable passive income source. Traders are assured of complete transparency when using the robot.
RoFx is also referred as Expert Advisor and works mainly on the basis of artificial intelligence. The developers mention that the software offers low drawdown rate and aims to compensate users for losses. This is done mainly by utilizing the reserve fund of the company. We decided to investigate a bit further when we came across so many positive reviews which RoFx has managed to gather in the past few months.
So, first let us understand what automated forex trading is?
As evident by the name, it is about using forex robots or EAs for trading a specific pair of currency. Now, this can include copy/social trading and trading signals. Any trading robot is developed in a special way. It can carry out trading decisions independently on the behalf of the trader. This robot can also work as an indicator which points out to the user when to buy or sell a product. Majority of developers mention and advertise that their specific robot will bring in unusual trading success. However, this is far from reality and does not usually happen. Most EA’s we come across these days are not successful. There are several reasons for this – one reason being that the market situation can change anytime. It also indicates that any specific EA might have performed well under some conditions, but in another condition, it may not perform that well.
How does RoFx work?
Any EA is generally installed with the MT’s expert’s directory. It works on the basis of a set algorithm. This trading software usually closes or opens trades automatically which are based on some set inputs. There are a few demo accounts, which have a back-testing feature that can simply evaluate if an EA is profitable or it is not.
Forex Robots and Scams – The Association?
With the popularity of forex trading, scams are getting quite common as well. Scammers come in disguise to dupe the traders in the form of forex robots. They come with some unusual ‘get rich schemes’ or offer opportunities like ‘earn big money without working’. These offers are quite enticing for traders who wish to get rich in a short time. It is seen that amateur and novice traders usually fall prey to such scams. In fact, it is seen that there are also some software which are advertised in a way to assure traders that their money is in safe hands. The truth is that most such robots or software is fake and might be capable of generating just 10% profit. Most of these robots are extremely poorly managed automated trading systems which do not consider many things, which includes the changes in market conditions.
What are the benefits of using automated forex trading robots?
- They are a good source of passive income generation.
- With robots, there is no influence of emotional trading
- Ensures better risk management. There are many EA’s which allow users to make changes in settings for take-profit orders or stop-loss.
- They help in quick backtesting. It takes just a few minutes or seconds to get results.
- The robot does all work for the user. Thus, there is no specific time requirement.
- There is no need for additional expertise or knowledge to use the robot. The EA does it all.
Disadvantages of Automated Forex Trading:
- The majority of robots do not consider political and economic news.
- There is a negative effect on trading when there is internet connectivity failure.
- There are many EA’s which function without a stop-loss. This can put the trader’s account at risk.
How Legitimate is RoFx
RoFx is a Fintech Company and has offices in the UK, Hongkong and US. Anyone is free to visit their headquarters located in the UK. This can be done by just making an appointment in advance. There is also an annual conference and the company invites several VIP clients.
RoFx does not need any financial regulation as it is a software company engaged in the development of AI. It has links with some of the top brokers of America, Europe and Asia which does testify its legitimacy.
RoFX and Other Trading EA’s – Understand the Primary Differences
If you consider RoFx with others, you will realize that it has an automated approach. Traders have to deposit their money and sit back. The robot does the rest. Money can be deposited in the Euro, USA or Bitcoin. RoFx also does not require a long installation process.
- Continuously Updated Trading – RoFx uses superior technology for trading which has been continuously updated and modified in the last 10 years. The robot takes help from a neural network which helps this software in adjusting according to conditions of the market. There is continuous scanning of charts to understand the changing market conditions. It is a completely automated trading process which requires little cash and an internet connection.
- Easy to Use Service – Traders can access the services from the website. There are many interesting packages. The base package offers 50% daily profit. This might increase to 95% as the trader increases the investment.
- Past Performances – Over the last 10 years, RoFx has accumulated impressive track records. It is proof that the robot performs quite consistently. Total transparency is assured on the website as the traders get an overview of their trading activities which include daily profits & monthly gains. The statistics are all verified through MyFxBook.
- Efficient Customer Support – The customer support team offers convenient and instant services. They are reachable and offer solutions. This kind of service is mostly absent from other services which include GPS and Odin.
- Risk-Free – When anyone chooses to invest in RoFx, it is totally risk-free. The chances of losing money are less as well. You can easily find their monthly analytics at myfxbook. Here you will find the algorithm of the robot in the past few years. The robot did not incur any loss and even if it incurs losses, it will be compensated by the reserve fund. There is a stop loss system and no leverage trading involved.
Some other details about RoFx
This is an automated software & does not need download. You simply must visit the website & register. To get started, you can fund the account. The minimum amount needed is $1000. The profit calculator is available which helps in determining the gains you will receive.
Several easy methods of withdrawal are available. The minimum withdrawal is $1000 cash. Those who wish to withdraw an amount that is lower than this, can use Bitcoin and use the ‘exchange’ option. No withdrawal fees are charged by RoFx. When any user withdraws after the expiry of the package, a commission is charged by the bank. There are multiple deposit options available for users which include bank transfers, credit cards and Bitcoin.
There are several trading robots these days and each promise to perform well. However, when it is for an extended time, most of them do not perform. There are many robots that advertise that they offer 200% gains and attract amateur and local traders. RoFx has a user-friendly and straightforward approach. It offers a growth of up to 10% monthly and traders are quite happy with it.