In the world of automated trading, RoFx has been on the forefront disrupting how forex robots are managing trading accounts. RoFx is a company that has been in the limelight in recent years due to their forex robot and how different it is from the regular robots in the market. In this RoFx review, we’ll outline in depth everything you need to know about them and whether they’re a good fit for you.
How RoFx Platform Works?
As outlined above, RoFx is a deposit based profit share. This means once you register and join your account with them, you will make profits completely hands free and they take a certain percentage of the profits as their performance fee, while you bag the rest.
As a recap, RoFx is NOT a forex broker. Neither is it a robot in the regular sense. RoFx manages your money THROUGH the ROFX robot.
You will not get control of the robot. You will deposit your money through then join your with RoFx. And, once your profits are earned, you pay a certain amount to them as a performance fee. This amount is dependent on the package you choose.
RoFx has 6 main packages that potential clients can select depending on their account capital.
This package is preferable to beginners who want to test the waters of RoFx before fully committing with them. Additionally, it’s a package ideal for clients with $1000-5000.
The account runs for 30 days before the service ends and you, as the client, get 40% share of the profits while 60% goes to RoFx as the performance fee.
2Easy Start Package
This is ideal for clients with $5000-10,000 of capital. The period runs for 70 days before closing.
Profit share for you is 50% while the performance fee is 50%.
Those are the main packages of RoFx. There’s also another package called VIP PAMM package. This is for clients who have millions of dollars for investment. You can open an account with any brokerage allowing RoFx robot to trade. It guarantees a total control over your funds with possibility to withdraw any time.
The Moneymaker package is the most preferred by clients. You can also get the accounts in Euro and Bitcoin.
You can replenish your account at the ROFX in the following ways:
- wire transfers
- bitcoin transactions BTC
- domestic ACH
Moneyback / Loss-Coverage Guarantee
You can always get your funds anytime by request. It’s better to hold on until the end of the lock period so that you can earn good profits, but if, for whatever reason, you’d want to get your funds, it’s as simple as just requesting them back.
Also, RoFx offers a deposit security guarantee where at the end of the lock period, you will AT LEAST get the money you invested back with. This is because they cover your losses with money from the company reserve funds through their stop-loss systems where they block trading at minimum loss.
RoFx Robot Trading Strategy
As the profit is calculated daily, it’s safe to say that the robot opens trades on the intraday. Most trades have few pips and have an average risk-reward of 1:1. Sometimes the R: R is 1:0.5 whereby it’s gaining only half of the money it’s risking.
The trades mainly run for a few hours and as the diagram below shows, the main currency pair traded is the Eur/Usd.
It’s unclear which trading strategy is used by RoFx robot while trading. And from the packages above, it’s clear that the higher the deposit, the better edge you get as the client.
1You don’t need any prior trading experience
You don’t even need to know how to run a forex robot or automated software. This is very beginner-friendly as all you need is a good account capital and everything else will be set for you.
As a trader, it helps to know where you’re investing your money and the dynamics behind it. That’s the TRUTH. No matter how powerful a software is, no matter how newbie-friendly it is, it helps to arm yourself with some information.
That said, you can still make money from RoFx without any knowledge of forex or even robots.
Now, this is a pro for those people who like an absolutely complete handsfree approach. On the other hand, if you like some control over your account, this might be a con.
But, since it is a completely automated experience, once everything is set up you won’t need to monitor your account every now and then to ensure your trades are in profit. Everything is under control since even your losses are covered by the company.
Admittedly, RoFx can be a good way to invest your money. Their monthly profits hover around 5.93-11.71% while the annual returns can be 84-96%. You also don’t pay any withdrawal fees meaning more money in your pocket.
4Good customer service
RoFx has some evident flaws. But their customer service is great. They try to answer questions on time while also maintaining a professional and polite tone.
If you have low capital, the performance fee is too high that you will not make anything substantial from it. But, if you want good profits and at a low-performance fee, the capital required gets quite high.
For example, the money maker package that most clients choose requires a capital of at least $10,000. That’s a little higher than what most aspiring investors have.
2Lack of transparency
RoFx robot says there are no hidden fees in regards to transparency. But, the strategy used by them is unclear.
RoFx Reviews From Customers
There are mixed reviews on the web regarding RoFx. But, most reviews weigh heavily in favor of the company. Here are some of the reviews from the customers.
A good point for RoFx is how they show their results on MyFxBook for everyone to see. Here are some of the most recent results from them. As you can see, the robot is not so bad.
MyFxBook is a very trustworthy site for publishing trades, this site cannot be fooled that it is 100% proof that ROFX is a good Forex robot.