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.
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.
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.
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.
Is RoFx regulated?
Being a software company, owners of AI technology and a managing company RoFx does not need to be regulated. RoFx cooperates with top European, American and Asian brokerage platforms, licensed and regulated by the corresponding authorities.
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).
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.
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.
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 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
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 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.
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.
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.
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.
Pros & Cons of RoFX
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.
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.