Home Forex Robots FEATURED ROBOTS ROFX Review – The Most Reliable Expert Advisor in the Market?

ROFX Review – The Most Reliable Expert Advisor in the Market?

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rofx

Introduction to Algorithmic Trading & RoFX

Trading the Forex market has always been a complicated procedure. Technical traders typically use various sophisticated trading techniques and strategies to make profits from the market. This makes it difficult for the new aspirants to participate in Forex trading. It is a known fact that the success rate in this market is 5%, i.e., 95% of all the novice Forex traders end up on the losing side.

But with the advent of the latest technology, Algorithmic trading has aroused, which solves almost all of these problems. In Algorithmic trading, the markets are traded autonomously without any manual intervention. The orders are executed with the help of pre-programmed bots with specific instructions. 

However, there are many companies in the market currently that offer trading bot services for interested individuals. Many of these bots might be designed by a group of developers with hardly any technical trading background. Therefore, it is crucial to pick credible, reliable, and smart trading bot to profit in this space. 

RoFX is one such advanced autonomous trading bot that has been providing Expert Advisor services for a decade now. RoFX EA is unlike most of the typical trading bots in the market. Our team of traders has used and tested this service for an extensive period to analyze its performance, and the results are pretty great. 

In this article, we will take you through all the features of this expert advisor in detail. After understanding everything about what this bot is capable of, you will be able to decide if this EA is for you.

Rofx Review

If there is one thing that differentiates RoFX from other trading bots, it would be the revolutionary technology behind this EA. RoFX is equipped with a ton of machine learning algorithms and AI that works autonomously while improving with time. This is possible with the help of self-learning neural networks that keep feeding the data to its system. This enables the bot to learn different states of the markets and act accordingly. 

Apart from this, the trade orders are managed by the system from in-house company servers. This infrastructure and robust technology of RoFX offer lightning speed execution for its clients, and it is specially designed for catering high-frequency trading. This makes RoFX bot more efficient and effective compared to its competitors.

The RoFX trading robot has some of the most advanced trading features in the market. Unlike most other robots, it’s fully automated meaning you don’t get to select when you want to trade manually.

The developers also incorporated AI and Machine Learning when creating it which enables the software to conduct market research on its own and also analyze the current events and how much they can impact the market.

Also, unlike the other forex robots, RoFx is managed directly from the company servers, therefore, you won’t need to download anything into your computer to access the software.

profits by year rofx
rofx review

Company Info

The company has offices in London, New York, and Hong Kong.

The main offices are based in Northern & Shell Building 10 Lower Thames Street, 4th floor London, EC3R6ADUK.

The customer support can be reached at — [email protected].

How does the RoFX platform work?

RoFX cannot be compared to a typical trading bot that technical traders use in their MT4/MT5 trading terminal. This differentiation is done based on its working. Being an advanced Expert Advisor, RoFX doesn’t work like conventional trading bots. Users need not have to download any bulky software and install it on their computers. 

how rofx works

A set of Forex brokers will be hosted on the RoFX servers. Users just need to open an account with one of those brokers, and the setting up process ends here. The comprehensive RoFX bot will then take ownership of user accounts and start trading autonomously.  

If you are interested, you can even supervise the bot’s working and learn more about where the market opportunities were and how the RoFX software captured those and accumulated profits. Therefore, novice traders get to learn a lot of trading techniques from the bot while making profits.  

RoFX Robot Trading Strategy

The RoFX bot performs intraday trading, and the profits are calculated daily. The average risk-reward ratio this bot maintains is of 1:1, which is pretty decent. As we have discussed before, the RoFX bot is continuously updated and equipped with various trading strategies. The implementation of these strategies happens autonomously, and trades get executed depending on the market situation. 

Currently, EUR/USD & GBP/USD are the two major Forex currency pairs traded by the RoFX bot. In the below pie chart, we can see the popularity of both these pairs in July (Year to date).

rofx currency pairs popularity chart for july 2020

One of our important findings while using this bot is that the higher we deposit, the more returns there will be and the better edge we get as a client.

Trading Results

rofx trading results statistics

RoFX bot’s trading performance and the results of every single trade it takes gets published in the MyFxBook.com. For those who are unaware of this website, it is the most credible open-source platform used by individual traders and companies that trade financial markets to publish their trading results. There is no way for anyone to tamper with the results that get published here. 

Below we can see the impressive trading results of RoFX bot on the Myfxbook. With more than 500+ gain percentage, this bot stands tall even among some professional Forex traders. The most remarkable part is maintaining this kind of gain percentage considering the number of customers this company serves.

rofx trading results chart from myfxbook

In the below picture, we can observe the Daily & Overall profits generated by the RoFX bot. With more than $420k daily profits and ~$51 million overall profits, we should say the results are remarkable.  

rofx trading results charts (daily & overall profits)

Available Packages

RoFX Company is currently offering three different types of packages for its clients. They are well-curated as the intention is to serve all the types of traders and investors. These packages can be accessed in three different currencies – USD, EUR, and BTC. All the details regarding these packages can be found here. The three package types are as follows.

RoFX Basic Packages

rofx packages
rofx basic packages

In the above snapshot, all the essential details of the basic packages are mentioned. It is important to note that investments in the Forex markets can be made with a capital of a mere $1000 with Rofx. This fits the need for newcomers to jumpstart their trading adventure. Professional traders with huge account capital can diversify their portfolio by signing up with RoFX’s VIP & VIP PAMM accounts. Investments in these accounts range from $100k to $10 million.

RoFX No Lock Packages

If you have observed, there is a lock-in period for each package in the basic package section. That means users of those packages cannot withdraw funds until that lock-in period gets over. But if you prefer withdrawing your funds at your convenience, these no-lock packages are for you. However, the performance fee charged in these packages is high, and hence the returns here will be lesser compared to the basic packages.

rofx packages
rofx no lock packages

RoFX Advanced Compound Packages

Below are the specifications of the Advanced Compound packages. These accounts have the highest earning potential compared to the other two, as the performance fee is low. The catch here is that the lock-in periods of all the account types in this package are fixed to 270 days. 

rofx packages
rofx advanced compound packages

Money-back/loss coverage guarantee

This is one of the crucial features of RoFX that surprised us. The company promises to offer a loss coverage guarantee for all of its users. At the end of your lock-in period, you will at least get back the money you have invested. We were amazed that there are hardly any companies in the market with such good trading results that offer loss coverage for all of their clients.

rofx loss coverage guarantee

The company also claims to have a separate reserve fund for this particular purpose. Their trading system is also equipped with strict money management practices like accurate ‘stop-loss’ placements to minimize losses in adverse situations. We also found that RoFX doesn’t use leverage to maximize profits. This displays their low-risk investment policy. 

Customer Reviews

We have seen a lot of positive reviews for this bot, and it is expected because of all the credible services it offers. However, only a handful of reviews were about concerns regarding the lock-in periods being long. Below are some of the snippets of RoFX’s customer reviews.  

screenshots rofx customer reviews on trustpilot and other third-party websites

Pros & Cons of RoFX

Pros

Caters To Novice Traders – To use RoFX, you do not need any previous trading experience. It is friendly for beginners as there is no need to download and install the software.  

No Human Intervention Required As discussed before, the entire trading process with RoFX is entirely automated. All you have to do is to open an account with a broker within their servers and sit back to enjoy profits. 

Highly Profitable – We have gone through their Myfxbook records, and it is clear that the profits gained by RoFX bot are pretty impressive. On average, 8-11% of monthly returns are guaranteed. Depending on the market condition, you even get to double your capital in a years’ time.      

24/7 Customer Support – There are very few EA service companies that offer support for their clients even on weekends, and RoFX is one among them. Their customer service team comprises professional traders who are relevant with their answers. The response time is also swift.  

Riskless Investment – The RoFX Company offers a loss coverage guarantee for all of their clients, and they even have a special reserve fund for that. So even in the worst-case scenario, you get back your initial investment. 

Cons

Relatively Expensive – The performance fee charged by them is relatively high compared to other EAs out there (15-50%). But considering the quality of service they offer, their track record for the past 11 years, and the fantastic team they are backed by, we can say that the fee is convincing.    

Prolonged Lock-In periods – Right from the Money Maker package in the basic package list, the funds can only be withdrawn after 270 days. We find this a bit of a stretch. However, users can withdraw even before their lock-in period gets over, but the withdrawals won’t be free.

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16 COMMENTS

    • Of course the algorithm must be proprietary. But we know that the self-learning neural network code that is in place will understand the patterns better with time. That must be the secret sauce.

  1. I registered with rofx on July 10, 2019 with an initial investment of $1,000 (which is actually the minimum account opening requirement) just to see how the system works. So far so good, I’m yet to any issues with the system. The only problem I sort of experienced was needing to approach my bankers to have them wire transfer the money to an EU member state. It did raise some eyebrow from my account manager. After which I was notified to upload my verification documents unto rofx, once they got it, I had instant access to my wired amount plus an added $50 bank wire fee (translating into a $1,050 account balance). By the way, is anyone aware of a Telegram channel for the rofx?

  2. Rofx is a brilliantly built trading bot. I have used many bots which works well in trending markets. But with Rofx I’m seeing positive results even when the makets are choppy and not trending.

    • Since Rofx has a web-portal, one can use it on any device that has a browser in it. So the answer to your question is yes.

  3. It has been 7 months since I have invested 20,000 Euros in Rofx and I’m constantly making 50 -70 Euros daily without even having to look at the markets. I mean why someone would even think twice to buy a credible bot like this for themselves.

    • Bank wire transfers can be done but you will be charged by your bank depending on the amount of money you are willing to withdraw.

  4. I want to upgrade my Rofx plan from Easy Start to Moneymaker. But I see there is a lock in period of 270 days in that plan which I’m not comfortable with. What should I do?

    • Moneymaker is what I’m currency using. The decision to upgrade is a right choice. But if you want to avoid the lock in period, consider their special No Lock packages. In the Moneymaker no lock package, the performance fee is at 40% which is just 5% more than their general Moneymaker pack. All the best.

  5. Rofx proved that Forex trading is not just for people with immense financial knowledge. I started trading the Forex market with Rofx when I knew nothing about the fundamentals of trading. But since the bot is completely autonomous and need no manual intervention, I was able to make consistent profits.

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