Trading in the forex market has always been an enticing prospect for all traders out there. In recent years, automated trading in the forex has largely replaced manual trading as the most popular method of trading. This usually relies on the efficiency of software in question such as EAs or forex robots. One such Expert Advisor which constantly features on the top ten lists of forex EAs is ROFX. Here is an honest RoFx review for traders who wish to start trading.
ROFX advertises itself as a self-learning EA which implements a profitable algorithm. It is one of the few EAs which is known for its background running capacity as well as its ability to learn the changes in the market quickly. Developed back in 2009, ROFX is backed up by a team of developers who are experienced in Forex. ROFX labels itself as safe because they guarantee the safety of deposits made by traders. They are also committed to providing transparency and operate with 100% confidentiality.
ROFX can be bought in either USD, EUR, and even Bitcoin. It offers 5 account packages, namely, Trial packages, Easy start package, Money maker package, Gold package, and VIP package.
ROFX has some features that enable it to deliver profitable trading experiences to its users. Some of these are mentioned below.
- Easy Initiation: ROFX allows almost any amateur trader to start trading short term investments within the first month.
- Daily Profit Collection: ROFX allows its users to take the profit they’ve earned on a daily basis, provided the day was profitable.
- Minimum Risks: ROFX employs the stop-loss system to stop trading to allow the most minimum of losses.
- Guaranteed Return of Funds: Investors can get back their invested funds at any time they wish.
- No Leverage: Trading with leverage is not allowed in ROFX.
- Support System: ROFX has a responsive customer service team that works around the clock, 24/7. There is also an option available for live chat.
Advantages of using ROFX
- Novice-friendly: One of the most obvious benefits of using ROFX is that it is beginner-friendly. It’s a well-known fact that novice traders tend to struggle when using an EA for the first time. ROFX makes it easy to get acquainted with the environment and to start trading pretty soon.
- Trading Strategy: ROFX’s trading strategy has been formulated by a group of forex experts after considerable testing. This makes it easy for novice traders to easily hop on-board and start trading. They can thus skip their usual trial and error approach and work towards profitability.
- Verified Results: As we’ll see in the section below, ROFX has provided verified trading statistics and results on sites like myfxbook.
- Transparency is Paramount: ROFX is committed towards transparency which reflects in their practices and policies. As part of this, ROFX provides all information on their myfxbook page, something not all EAs do.
Trading Record on myfxbook
There no denying that there is a multitude of Expert Advisors available in the market, each claiming to offer the best degree of profitability. While there is no way to confirm these claims on the spot, traders can check for live trading statistics from authoritative sites such as myfxbook and fxblue to get a better picture. In this case, ROFX has provided us with a live account, hosted on myfxbook.
In the above account, we can see that the total accumulated profit stands at $46042706.00 and the account has a current balance of $56042706.00. On the tab at the top, we are presented with information regarding the account including that its using USD and Ester as the broker. The bottom-left tab indicates that the information has been updated quite recently. All of these are signs that the account is indeed in order and verified frequently.
The information in the account indicates that the account has indeed gained an impressive profit of 463.43% with an amazingly low drawdown rate of 0.35% Low drawdown rates are always favorable and indicative of a good, low-risk trading strategy. All the other aspects pertaining to this account, including the trading charts and other trading records.
After looking at the above account, it’s clear that ROFX makes realistic claims on its website. When comparing other trading statistics from EAs, many may have a profit that is generated almost magically from a small initial investment. However, it is clear from the records of ROFX that the account started with a small amount and gradually grew as it earned profit over the years. These are definitely more reliable figures to consider.
With the growth of automated trading, traders are realizing the potential of using software such as Expert advisors for profitability, largely replacing manual trading. Additionally, there are ample reasons to include ROFX in the list of the best Forex robots available. Apart from being an excellent forex robot with a bunch of amazing features, it provides trading records and proof on its official website. The registration process is fast and easy, taking about 5 minutes.
Overall ROFX has impressed us with the quality of statistics it has provided and the salient features it possesses. At a time when markets are saturated and potential buyers can get confused while choosing, ROFX displays all the hallmarks of being a reliable trading robot.