Forex is the most liquid market in the world. It is known that the average trading volume in this market is about 5.1 trillion dollars, which is way more than any other financial market. Therefore, trading opportunities in this market are numerous. Having that said, a considerable part of the trading volume is contributed by institutional traders. So it gets really hard for the retail traders to make the most from the market.
To get an edge over the Forex market, traders must go through years of practice analysis, the price charts, understanding chart patterns, and many more. Even experienced traders with maximum knowledge on the Forex market find it difficult to make consistent profits. So now we can understand why the success ratio of novice traders in this market is very low.
With the rise of future technologies like artificial intelligence, a new solution has been found for these problems, and that is Algorithmic trading. Here, an Expert Advisor is built by a team of traders and programmers. An Expert Advisor is a robot that is capable of trading the markets on its own. These bots analyze many variables like price, volume, and time and are capable of making appropriate trading decisions.
Speed and accuracy are a couple of things that computers are better at when compared to humans. With Algorithmic trading, we can take advantage of these and better the trading performance compared to manual analysis. But there are numerous Expert Advisor services in the market, with most of them being non-reliable. So it is crucial to pick a credible bot that can reap us profits while protecting our capital. In this article, let’s review one such EA service company – RoFX.
RoFX Company Info
The inception of RoFX Company was in 2009. A team of certified developers and technical traders with immense knowledge of the Forex market has designed this EA. Unlike most of the EA’s that we see in the market today, RoFX was not immediately released to the market to make quick profits. Its team has backtested it for almost a year.
After a lot of fine-tuning, the team analyzed the bot’s performance in 2010. They have then opened their services to the market after confirming the positive dynamics of the bot. Right now, RoFX is serving more than 30,000 thousand customers across the world. This company has offices in major financial centers like London (head office), New York, and Hong Kong.
The customer service department of RoFX comprises experienced technical traders who are willing to help their users in any situation. We heard that they are relevant to their answers and respond swiftly. The chatbot on their official website is the easiest and fastest way to reach their team. RoFX support is available 24/7, and users can even reach them through the mail via [email protected].
Suitable for users without Forex trading experience
Typically, setting up an EA involves downloading huge software and lengthy installing procedures. But with RoFX, none of these need to be done. All you have to do is open an account with a broker of your choice from the RoFX in-house servers and let the bot do its work. This makes this EA service beginner-friendly, which is great for novice traders.
With RoFX, traders get to make profits from day-one without any prior knowledge, which is almost impossible in manual trading. This bot also eliminates the entire problem of Trading Psychology. Controlling emotions like greed and fear is one of the major problems faced by even experienced traders while trading the Forex market. With RoFX, there is no chance of these mistakes happening.
Advanced AI algorithms and team of successful traders
The internet revolution in the late 20 & 21st century has led to many inventions. There is one thing that is taking a lot of attention in recent times is data. Organized data has literally become the most valuable product in any industry. By analyzing this data, we will be able to make interesting findings and make decisions accordingly.
With the rise of technologies like Machine Learning and Artificial Intelligence, we are able to feed the robot with more data. This enables the bot to make decisions on its own. The working of RoFX is a bit more complicated than the bots that we have discussed above. It is made of a self-learning neural network that continuously evolves with time.
The algorithms within the system allow the bot to constantly learn from the market. Also, the team at RoFX keeps updating the bot with advanced trading strategies that are new to the market. That is the reason behind this bot’s consistent performance in the market over the past ten years. Below we can see the consistency of profit percentages achieved by RoFX bot over the years.
A regular bot with a set of pre-programmed rules can’t achieve this consistency as the markets evolve and are ever-changing. This differentiates RoFX Expert Advisor from its competitors.
Daily Reports, Statistics & Analysis
Just like other EAs, the trading strategy of RoFX bot is proprietary and not disclosed. Two major Forex currencies are in play, and they are GBP/USD and EUR/USD. Below we can see the total gain percentage of RoFX bot over the years. The 525.87% of gain looks pretty impressive to us. Also, the growth trajectory can clearly be seen from the below chart.
From the below chart, we can see that this EA service has made about $52 million for its clients. These commendable trading results explain the credibility of RoFX.
Below are the historic drawdown figures of the RoFX bot. If you are an experienced technical trader, you must be impressed with these drawdown figures. For the month of July, the drawdown percentage of RoFX is 0.12%. This means the overall capital that got reduced after a series of losing trades by RoFX is just 0.12%. For any professional trader, it is almost impossible to maintain this kind of drawdown for years together.
The weekly, monthly, and yearly trading results of RoFX are clearly published and can be seen in the snapshot below.
As of today (July 10th – 2020), the total number of trades taken by the RoFX bot is 187,613. Out of which, 152,998 traders ended up on the winning side. With an 82% win rate, the RoFX bot stands tall among the rest of its competitors.
When we break this win percentage between the two traded currency pairs EUR/USD & GBP/USD, it is 81% & 83%, respectively. We can see that the RoFX bot has bought investors to pocket more than 1.5 million pips of profit in each of the currency pairs.
In the below comprehensive trading report, we can see the monthly and weekly gain change percentages. We can also see the risk to reward ratios for each of the currency pairs. 1.45 & 1.37 RRR for major currency pairs looks rewarding compared to the risk taken.
We can see in the below illustration that there has been only one bad day for RoFX bot in July (month to date).
Guaranteed security of funds
This part impressed us the most compared to the trading statistics, and this is the reason why. In trading, the fundamental rule is not to make profits but to protect your capital. RoFX Company assures loss coverage for all of its 30k+ users. The company even has a separate reserve fund for this purpose. This means that you will never be losing anything at all by investing in RoFX. If the bot makes a mistake, and if your account goes to a negative balance, the company will cover those losses.
We hardly came across any EA service with this level of confidence over the service they offer. Also, the RoFX bot follows advanced risk management techniques like accurate stop-loss setups to minimize losses. They also do not encourage trading the markets using leverage to maximize profits as they are well aware of the risks involved.
Complete account & risk management
The RoFX Company takes care of the entire account and risk management practices. If you are not using an EA, you should be doing all these by yourself. All the trades the bot takes are managed from their in-house company servers. There is no risk of personal information leakage while trading with RoFX as the money earned by any individual stays anonymous due to their client-friendly policy.
There is also 24/7 support to address all the client questions around the clock. Also, as already mentioned, the company does not use leverage to minimize the risk and uses appropriate risk management techniques to protect your capital.
Variety of packages
There are three different base currencies you can choose from to pick the RoFX Company’s packages. They are USD, EUR & BTC. The least investment required to open an account at RoFX is with the trail package, which starts with a mere $1000 deposit. The maximum is the VIP PAMM package, which ranges from $10 million to unlimited. Below you can see all the details related to the basic packages of RoFX like min deposits, performance fee, lock-in periods, etc.
Below are the snippets related to the details of No-lock and Advanced Compound RoFX packages. In no-lock packages, the performance fee is more as you will have the liberty to withdraw your profits whenever you want. Contrarily, in Advanced Compound packages, the performance fee is less as the lock-in periods are longer.
After carefully analyzing all of these packages of RoFX, one thing was clear for us. As your trading capital increase, the profits you earn will maximize. Below we have explained this analysis by using the RoFX calculator. If you invest $1000, you will be nested under Trial account, and the returns you will earn in each of the package types can be seen below.
Likewise, if you invest $10,000, you will be nested under the Moneymaker account, and the corresponding earnings in different packages can be found below. The No Lock package profits are the least while in the Advanced Compound package are the most.
Withdrawals at RoFX are entirely free if you withdraw the funds after your lock-in period gets over. You even can get the bank charges compensated when funding your account to increase the account balance. Apart from this, the BTC deposit/withdrawal feature is also available to increase the safety and anonymity of the funds earned.
The company doesn’t ask for any of the sensitive information like ID number etc. during the registration procedure. All you have to provide is your name, mail ID, country, and phone number. It sounds more like a decentralized system, isn’t it? Yes. If you are a crypto enthusiast but are afraid of the volatility swings, RoFX is the best place for you to invest.
There is only one consideration we have come across while trading with RoFX, and that is the trading costs involved. This EA service is relatively expensive as the performance fee is high, and it can range between 15% and 60%. But after reviewing their trading results and reliability factors, these charges are understandable. Also, when a company with experienced management, developers, and traders rely on their system gains, it makes you feel more confident.