Introduction to RoFX
With the advent of path-breaking technologies like artificial intelligence and machine learning, algorithmic trading has changed in the ways we can’t imagine. Previously, this type of trading used to involve a typical bot with pre-coded instructions. The bot used to execute trades on the different financial markets using those instructions.
But markets are ever-changing. They always tend to transform the way they move, and any bot which doesn’t improve with time becomes obsolete and irrelevant. This is the exact reason why many of the Expert Advisors tend to fail two to three years after their inception.
RoFX is one of the very first companies in the market to offer EA services for Forex traders interested in Algorithmic trading. As we see the company profile, it was incorporated in 2009 & started to offer its EA to the public in 2010. The team behind RoFX looks impressive, with a beautiful combination of technical traders and developers.
In this review, let’s go through all the features of RoFX bot and deeply understand its performance by analyzing the data and trades taken by the bot till now. We will also be going through the pros and cons involved while using this bot and its costs.
Getting Started with RoFX
The entire process of buying, downloading, and setting-up an Expert Advisor on the price charts can be complicated and tedious for many traders and investors. But with RoFX, you don’t have to go through any of the processes that have been mentioned above. In fact, there is no buying process involved. All you need to do is to visit their website and subscribe to any of their packages. Once that is done, you need to fund your account, and the bot takes care of the rest.
You can start using the services offered by RoFX EA with their Trial package, which needs a minimum deposit of just $1000. If you are a novice trader interested in trading the Forex market, this is the safest bet. So in our opinion, getting started with RoFX is pretty seamless, straightforward, and affordable.
Technology Behind The Bot
As we have discussed initially, any bot will become obsolete and irrelevant to the market within two years after its inception. But that is not the case with RoFX. We were surprised to see how the profits generated by this bot have grown over the years. When we delve deeper, we understand the technology and the reason for this consistent performance.
Equipping EA with proprietary self-learning neural network mechanism distinguishes RoFX. Expert advisor updates itself with all changes that have been happening in the market, with the help of AI. Also, the technical team of RoFX continues to update the bot with new trading strategies to keep it modernized in a brutal and fast trading environment. Hence, the performance of the bot keeps evolving, and we can say that the RoFX EA we see today is much smarter than it was a couple of years ago.
Credibility & Reliability
With more than ten years of making consistent profits for its users, RoFX EA service can definitely be considered credible. All of the trades that are ever taken by the RoFX EA have been published in Myfxbook. This transparency increases the reliability that we can have on this company. All of the funds deposited by their clients are stored in segregated accounts in top tier banks to avoid misuse.
More than anything else, the company offers Negative Balance Protection and Loss coverage guarantee for all of its users. Be it a Trial package account with a $1k account balance or a VIP account with a $100k balance; the company will cover all the bot’s losses. They’ve created a reserve fund for this purpose.
This is something we have not seen in most of the EA service providers. It means a high safety level for your investments, which is commendable, and service provider confidence.
Also, the company uses appropriate risk management techniques like accurate Stop-Loss placements and avoiding the use of Leverage to ensure account protection in the case of adverse scenarios. With all this in mind, we can say that RoFX is an extremely low-risk investment with no second thoughts on credibility.
Packages offered
RoFX offers six different kinds of packages for all of its users. For an overall idea of all of their package types, please refer to the below snapshot.
As you can see, there are three different packages available with RoFX, and they are Advanced Compound packages, Basic Packages, and No Lock Packages. There are three base currencies that you can use, and they are USD, EUR, and BTC.
There are six different package grades in each of the packages mentioned above. The trial package starts with a minimum deposit of $1k dollars, and the most premium VIP PAMM package comes with a minimum deposit of $10 million. To better understand the differences between each of the packages, refer to the below snapshot. Here, we can see all the details of the Trial account in all the three package types offered by RoFX.
As we can see, the minimum deposits remain constant in all the package types, with major changes in the lock-in period of the funds and fees charged. The lock-in period, as the name explains, the lock-in period is the amount of time your funds get locked before you are eligible to make a withdrawal.
The lock-in period is moderate for basic package accounts and depends on the account you are planning to take. For no-lock account types, there is no lock-in period at all. You can withdraw your funds whenever you wish to. For Advanced compound accounts, the lock-in periods is 190 days.
The catch here is that the performance fee charged by RoFX varies from one account type to another. More the lock-in period, less is the performance fee charged and vice-versa. If you are an investor, we would recommend you pick the advanced compound packages for higher returns.
Crypto enthusiast? RoFX is for you!
If you are interested in investing in new technologies and are eyeing for crypto investment, RoFX is for you. Even though RoFX doesn’t extend their support for crypto markets currently (only EUR/USD & GBP/USD pairs can be accessed), they are extremely crypto-friendly.
The profits earned by you stay anonymous, just like that of your crypto earnings. Also, in crypto markets, volatility and security of savings are the biggest cons. But with RoFX, you can earn a stable and high income daily. At RoFX, crypto withdrawals are allowed with zero commissions charged. There is a different set of package lists using which you can make your deposits in Bitcoin alone. Below is the snapshot of the same.
Performance Evaluation
RoFX software has brought profits of more than 1.4 million pips to its users on each of the currency pairs (EUR/USD & GBP/USD). The profits generated are $55 million as of July 2020.
As you can see, the drawdown percentage is minimal, and these statistics support the claim we made on RoFX being an absolutely risk-free investment.
As of today, the win percentage of RoFX EA is over 82%. This win rate at this trading volume for these many years explains why there are no signs of slowing down for this company.
Any Cons?
The only particular thing that grabbed our attention in terms of cons is the fee charged. On the trail account of the basic package, the performance fee charged starts at about 60%. But the percentage reduces as your deposits increase. However, when a company like RoFX with experienced management, developers, and traders rely on their system gains, investors feel more confident and price worthy.
Final Verdict
Without any doubt, RoFX has built a state of art expert advisor with advanced technology. But what makes this company unique is how they got all the other pieces right around the product they built. Easy set-up, well-curated packages, loss coverage guarantee, brilliant trading results are some of the many features that make RoFX special. Not to forget their support team which works 24/7 addressing the client issues round the clock. So we would definitely recommend this EA service to all of our readers. All the best!
