With an average trade volume of $6.6 trillion in 2020, according to the World Bank, Forex is by far the largest financial market in the world. So, what is Forex? The term Forex stands for foreign exchange: the process of speculating on currency movement with the aim to make a profit. This is the market where currencies are traded, and it is impossible to ignore the numerous trading opportunities up for grab.
Breaking into Forex trading as a beginner is tough. Perhaps because the market’s largest contributors are institutional traders who make it hard for newcomers and retail traders to enter the market and make the most out of it. Also, do not forget that most newcomers come to the market with unrealistic expectations. What most people don’t know is that even experienced traders struggle to make consistent profits.
To have the upper hand in the foreign exchange market, there are dozens of steps one has to take if they are to ascertain themselves as Forex traders. If statistics are anything to go by, only 1 in 100 novice traders are likely to make profits. Is there a solution to all these? Yes, how about you try an Expert Advisor?
Expert Advisor is the name given to a software/robot built to offer an automated way to trade currencies. When you have these bots on your side, you no longer have to stay glued on your computer all day observing the currency patterns. How do they work? Expert Advisor utilizes algorithm trading, which is the process of making trade decisions based on pre-set/automated trading instructions.
By utilizing the concept of algorithm trading, Expert Advisors (EAs) work to help investors execute specific financial strategies with speed and accuracy to bring in higher profits. As we all know, human beings are emotional and prone to errors. By utilizing an automated trading program, the issue of human error is taken out of the equation, and all decisions are made based purely on logic rather than emotions. Orders are executed with no hesitation, and you can rest least assured that you will not miss on key opportunities.
In the current age and era, there are numerous Expert Advisor companies, most of which are only good on paper but disappoint in real-life scenarios. The bot you choose should protect your investment and reap significant profits consistently. In this post, we will be reviewing RoFx, one of the leading EA service bot in the modern Forex market.
RoFx Company Info
RoFx was founded in 2009 by a team of professional traders and software developers with an immense understanding of the foreign exchange market. Before the bot was released into the market, it was first tested for a year through self-funding. It was only when the team of experts ascertained that the bot’s number of successful bids always exceed the losses that it was released to offer Expert Advisory Services. That was in 2010.
RoFx allows you to skip the trial and error phase, and you immediately climb the ranks to the best Forex trading strategies. This being the only EA company in the world that guarantees their investors on loss coverage. The company has over 50,000 happy and satisfied customers. Even better is the fact that, to join RoFx, no prior knowledge or experience in Forex trading is required.
RoFx understands the essence of good customer support services, and this is an area they have excelled the most. The company offers 24/7 customer support with very friendly and enthusiastic technicians ready to help you in any difficulty you might be facing and answer your queries. The fastest way to get in touch with them is through the chatbot, and you can also contact them via their official customer support email [email protected].
The company has offices in New York, Hong Kong, and London, with London hosting the main offices.
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.
Most beginners join the market with the perception that they will make instant profits which is nearly impossible with manual trading. With RoFX, traders make profits from day one, even beginners who have no prior knowledge of Forex Trading. All these make the platform a great choice for beginners who seek to reap benefits from the market without necessarily having to go through a downward phase of learning.
The bot also eliminates the human factor by doing away with the issue of human errors and controlling emotions such as greed and fear, which have been a major stamping block even to experienced traders.
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
The trading strategy used by the RoFx robot is confidential, and we can all understand why. You simply can’t disclose what gives you an edge over competitors. However, numbers don’t lie, and if this is anything to go by, RoFx is worth the investment.
Two major Forex currencies are in play, and they are GBP/USD and EUR/USD. As you can see in the chart below, in 3 years, the company has accumulated a percentage gain of 1372.58%. The growth trajectory is also hard to beat.
The company has made a cumulative profit of over $137 million, as shown in the chart below.
Even amidst a pandemic, you just have to be pressed by the downfall figures of the company. In June 2021, for instance, the drawdown percentage is 0.07%. This is insane and you don’t need a trained eye to know that it takes a lot to maintain such low downfall figures for 3 years. The chart below says it all.
We have also published the annual, monthly, and weekly trade figures of RoFX, and they are nothing short of impressive.
As of 17th June 2021, RoFx has won 309,497 traders. With an 81% win rate, this means that 250,077 of these traders have been on the winning side. Such a record is hard to match as shown by the chart below.
When we break this win percentage between the two traded currency pairs EUR/USD & GBP/USD, it is 80% & 82%, respectively. We can see that the RoFX bot has bought investors to pocket more than 3.2 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 reward to risk ratios for each of the currency pairs. 2.33 & 2.18 RRR for major currency pairs looks rewarding compared to the risk taken.
Last but not least is a chart of the daily profits for June 2021.
Guaranteed security of funds
RoFx is a company confident of the services they offer. Well, every serious Forex trader understands the fundamental role of trading is the protection of capital. And, no other EA service company does it better than RoFx.
The company sets aside a separate reserve fund to cover losses for their 50+ thousand users. By any chance, if the RoFx bot makes a mistake and you incur losses, or even your account runs negative, you can rest least assured that the company will cover the 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 management and data security
All traders taken in by the RoFx bot are managed in-house from the company’s servers. This makes it possible for RoFx to manage your account and install appropriate risk management measures to protect your capital. As per the company’s policies, earnings from individuals are kept anonymous and your information will never be shared with an outside source
Other than having a client-friendly policy, RoFx also has a 24 hours customer support, with a team of dedicated professionals ready to tend to your issues and queries. The company has a strict policy to never use leverage to minimize risks.
Wide range of packages to choose from
RoFx has USD, EUR, and BTC as the base currencies. The minimum amount required to open an account is $1000, where you will be placed on a Trial account. The maximum amount package is the VIP PAMM package investing $10 million – Unlimited. The image below shows all the basic packages offered by RoFx.
The packages can also be subdivided into Advanced Compound and No-lock packages. For the No-lock packages, users have the liberty to withdraw their profits anytime they want hence have a high-performance fee. On the other hand, Advanced Compound RoFx packages have a relatively low performance fee partially because the lock period is longer compared to No-lock packages.
The common thing from all the packages is that the more you invest the higher the returns. As stated earlier, the minimum investment amount is $1000, and using the RoFx profit margin calculator, we have calculated how much you will earn under trial accounts. See the image below.
Whereas $1000 investments are placed under a trial account, if you invest $10,000, you will be placed under a Moneymaker account. As expected, No-lock packages reap lower profits compared to Advanced Compound packages.
No extra charge on withdrawals
We can all agree to the simple fact that an extra fee on withdrawal is annoying. RoFx understands this and waits for it. The company charges no extra fee on funds withdrawn after the lock-in period has elapsed. As if that’s not enough, you can even have your bank credited for bank charges when you top up your balance at RoFx.
Funds earned stay anonymous thanks to the BTC deposit/withdrawal feature.
Most of us are reluctant when it comes to giving sensitive information. Well, none of that is needed at RoFx. To create an account, all that is needed is your name, email address, phone number, and country of residence. This seems like a perfect escape route for traders passionate about cryptocurrency but swayed off by the volatility of the market.
After a careful analysis of the company, only one drawback was found. Their performance fees are relatively too high, ranging anywhere between 15% – 60%. Of course, this is insanely high but maybe after reviewing the other benefits, results spanning over a decade, and reliability of the company, perhaps we can justify these fees.