Introduction to automated Forex trading via ROFX robot
It is a well-known fact that trading the Forex market involves a lot of risks. There is a rule known as 90/90/90. What this rule essentially means is that 90% of all the novice Forex traders lose almost 90% of their profits in the first 90 days of their journey in the market. Even if we consider experienced traders with a vast knowledge of the Forex market, they also tend to fail a lot of times. Not being able to control their emotions could be the primary reason for their failure.
Forex expert advisors (EAs) do have the potential to solve all of these problems. What essentially an EA does is that it trades on your behalf. It takes many expert technical traders and programmers to build an effective EA. These traders use their years of experience to make sure the EA is completely equipped. Once the development of the EA is completed, it will be able to do all the trading activities just like a human, if not better.
However, one should be very careful while choosing an expert advisor. A sophisticated tool should be picked as it is a great responsibility to speculate and trade the ever-changing Forex market. In this article today, let’s review one such forex robot – ROFX.
This company was incorporated by a team of software developers and professional forex traders in 2009. For the entire first year since its inception, this bot has been tested rigorously using the company’s funds alone. After analyzing the data in 2010, the team realized the potential of this bot and opened its services to the public.
The unique selling proposition that separates RoFX from the other EAs out there is the artificial intelligence used behind the building of this bot. Any typical EA will be armed with a code set, and depending on that code alone, the automated trading happens. But RoFX is equipped with a self-learning neural network, and this allows the code to improve constantly. That is, the way RoFX bot trades now is much better than how it used to trade previously. Apart from this, the trading experts in the RoFX team train the bot constantly to improve its performance.
Why should you consider RoFX?
Below are a few of the areas where we believe RoFX has a strong competitive advantage over other Expert Advisors in the market.
No need for previous trading experience
RoFX bot is designed in such a way that it caters to both novice and experienced traders. If you are a trader with no previous experience in financial markets at all, RoFX could be the expert advisor you are looking for. All you have to do is to open a virtual account with a Forex trading company hosted on RoFX servers. Once that is done, RoFX bot will trade on its own without any human interference.
However, traders get to supervise the software and learn more about where the market opportunities are and how the bot has taken advantage of them to accumulate profits. This gives the RoFX users a new insight on how to look at the markets and become a better trader. Also, setting up any typical expert advisor involves a lengthy process of downloading and installing hefty software. With RoFX, all of these don’t even exist as all the trades are analyzed and executed within the company servers.
The revolutionary power of AI and machine learning
Unlike most of the semi-automated systems in the market, RoFX is completely autonomous & evolving. The bot works throughout the day and ensures to reap maximum profitability for its investors. The secret sauce behind this is the artificial intelligence and machine learning algorithms that are embedded in the RoFX system’s root directory. These advanced algorithms continuously analyze the current market events, conduct research on its own, and predict their impact on the market.
Depending on those predictions, the bot makes informed trading decisions and does necessary adjustments to the existing trades. This is not the case with most of the EAs and trading companies. They typically have a set of experienced traders who spend hundreds of hours analyzing the historical data and comparing it to the current events. There is also a risk of human error while analyzing the market. The RoFX system eliminates all of these cons by automating the entire trading process.
We all know that data is the new oil. The amount of data that appears online is growing exponentially. That includes data from the Forex and other financial markets. RoFX team makes sure that its EA is constantly fed with the information related to liquidity providers, brokers, and even online media. This allows the bot to trade more effectively than any of the EAs out there. Although the RoFX bot went profitable in 2010, the team is still improving the system to analyze more data and perform better. This explains why there are no signs of slowing down for this company.
Loss coverage guarantee
Many EAs in the market promise excellent results on their websites. But none of them are actually true when it comes to reality. If you pick any of those scam EAs, there is a risk of losing your capital in very few days. But that can never happen with RoFX as this company guarantees complete loss coverage. In other words, the company makes sure to refund the losses generated by their trading bot.
The RoFX Company also has a special reserve fund to cover any of the losses incurred. Considering the size of their customer base and the number of trades the RoFX bot takes per day, this promise looks surprising, isn’t it? But this explains the confidence they have on the product that they offer and the utmost care they take for their client funds.
It is crucial to note that the RoFX Company doesn’t use leverage. This displays the low-risk investment policy they stick to. Other critical risk management practices like a steady stop-loss system are followed to potentially save the company and the investors’ money in case of volatile market swings.
Ranks highly compared to other automated bitcoin traders
For crypto traders and investors who are worried about the risks involved in this space, RoFX could be their go-to option. After the massive success in generating great profits for their Forex users, RoFX has extended its EA services to the crypto market as well. This company has found a way to infuse and automate Bitcoin trade on their platform. The bot works similarly to how it does in the Forex market. The price analysis and trade execution of Bitcoin is completely automated too.
RoFX has always been that company which is crypto-friendly. Maintaining the anonymity of user profits, stable and high-income on a daily basis, and acceptance of Bitcoin as a payment method (for both deposit & withdrawal) explain the same. So, if you are a crypto enthusiast but are worried about the enormous volatility and security of the funds, etc., RoFX could be your potential solution.
Trading statistics and profitability
There is a portal to track the trading performance of any individual or a company, known as Myfxbook. It is an online analytical tool that is completely automated. With the help of this portal the public gets to analyze and compare the trading activity of any trading account. If a company that is offering EA services shares their past performance in this platform, the reliability, and credibility of that company increase.
The trading performance of RoFX bot can be found here – the Rofx Myfxbook page. By visiting this portal, the entire history of the trades taken by the EA can be found using which one can evaluate its performance. The number of open trades at any particular time can also be accessed using this portal.
RoFX Company does not disclose their trading strategy just like other EAs in the market. But after analyzing the trading activity of this system, we have found that two major Forex currency pairs are in play – GBP/USD & EUR/USD. This trading bot has brought almost 1.4 million pips on each of these pairs to investors’ pockets. These include long and short trades with over 80% win rate, which is impressive.
We have reviewed the daily, weekly, monthly, and yearly records of RoFX bot’s performance. The average daily profits are ranging from 0.25-0.38% with a minimum of 8-10% increase in account size per month. These figures are impressive, considering the number of clients this company serves.
In the below image, we can observe the commendable percentage gain (474%) figures.
In the below snapshot, we can see various trading statistics related to the RoFX bot. Things like total trades taken, average wins, profitability percentage can be found.
Any professional technical trader will definitely be impressed with the drawdown % of the RoFX bot. Drawdown essentially means the reduction of a trader’s capital after a series of losing trades. For RoFX, it is a mere 0.09% in the month of May, which is negligible. It is important to note that in a few of the months, this percentage was as low as 0.01%. It is almost impossible for any professional trader to maintain this level of drawdown percentage.
In the below image, we can see that the bot has ended up only once on the losing side in the month of June 2020.
The impressive profit percentages generated by the RoFX bot over the years can be found in the below image.
User-friendly interface that supports multiple funding sources
We found both the UI and UX of the RoFX system to be great. Although you don’t have to interact with the system while it trades, user-friendliness is important, especially when they are serving absolute novice traders. Users of RoFX do not need any special computer or trading skills to use their services. The funding and withdrawal process is also pretty straightforward.
Positive customer feedback
RoFX has been one of the most preferred trading bots in recent times. By looking at the ROI, it is clear that this company has numerous happy customers. Below are some of the reviews of RoFX customers to prove the same.
RoFX Company does not impose any fee while the customers withdraw their profits earned. This is applicable for any amount of money withdrawn. USD, EUR, and BTC are the primary ways through which clients can withdraw their funds. RoFX offers one of the best BTC prices we have seen in the market.
Well curated packages
One of the features that differentiate RoFX from other EA companies is the segregation of packages. This company offers six different packages for its clients, and these are designed based on the user capital size. All of these package details can be found here.
In the above picture, all the six packages of RoFX are mentioned along with the corresponding details. The VIP PAMM account service of RoFX needs a special mention here. This service allows users to open an account with the broker of their choice. Users of this account will have total control over their assets. That is, they get to deposit and withdraw funds as per their convenience.
Each of the accounts mentioned in the above picture has a specific lock-in period for capital. This capital, along with the profits generated, can only be withdrawn after the lock-in period gets over. For the users who prefer to withdraw their funds at their convenience, RoFX has a different set of no-lock packages. You must know that the performance fee charged in these no lock packages are comparatively high to the traditional packages.
Apart from the two types mentioned above, there is also an ‘Advance Compound’ account type. Users of these accounts get to pay the least performance fee compared to the other two. However, the lock-in period in this account type is fixed to 270 days. Other specifications can be found in the image below.
The performance fee charged by RoFX ranges from 15 to 60%. This might seem high compared to the other typical expert advisors in the market. But when we look at the company’s history, the number of satisfied customers they have, and the amazing team behind it, the fee charged can be understandable. We can say the price is worth it as the company is ready to cover the losses incurred by their bot.
RoFX is one of the finest expert advisors we have come across in the market. Their artificial intelligence and self-learning neural network technology are one of the first in the industry. The ability to serve both novice and experienced consumers is also an appreciable part of this company. Also, RoFX offers 24/7 support for its customers, which is commendable. Finally, we would definitely recommend this EA to anyone who is planning to invest in the Forex and Crypto market irrespective of their trading experience. Cheers!