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Ever since Forex trading has grown in popularity worldwide, Forex robots and Expert Advisors have become popular. These are a type of automated software that helps novice traders execute trades according to some pre-set rules. However, the success of a trader using an EA depends on the software chosen. Because of their growing popularity, there is a multitude of Expert Advisors on the market, each claiming to deliver enormous profits for its users. While it’s pretty hard to find an EA that’s suited for all types of traders, one name keeps popping up on various forums and trading circles – RoFx.
RoFx began in 2009 by a team of forex traders and developers, catered towards both experienced and novice traders. It focuses heavily on providing transparency and efficiency. Today we’ll be taking a look into the features of this Expert Advisors.
One of the first things we have noticed is that RoFx provides six different account options to choose from for new users. This includes options such as Trial, Easy Start, Moneymaker, VIP, VIP PAMM, and Gold. All of these accounts have different features and minimum deposit requirements, which range from as low as $1000 in the case of a trial account to $10,000,00 in the case of a VIP PAMM Account.
RoFx: Salient Features
- Multiple Accounts: The fact that RoFx provides various account options for new users makes it apparent that the EA focuses on helping a wide range of traders with different experience levels. Beginners will find the trial account very useful to get the hang of a live forex market environment.
- Deposit Security is Guaranteed: RoFx works with international clients, and the safety of their funds is of utmost priority. By making regular amends to their reserve fund, they ensure that client’s deposits are safe and secure.
- Easy to Start Using: RoFx provides a sleek, intuitive, user-friendly platform with a simple 4 step setting up process. Users can simply visit their official website and start from there. They can access all critical information, such as account balance and profit history from one central platform.
- Risk Management: RoFx has an effective stop loss system that automatically springs into action the moment a trader experiences losses, keeping them at a bare minimum.
- Daily Profit Withdrawals: Many EAs have a fixed period, after which clients can withdraw profits. However, in RoFx’s case, profit withdrawal is daily. Thus clients can withdraw their profits daily.
- Providing Transparency: All details about its pricing and services are mentioned in RoFx’s website and its terms and conditions. They do not charge users any hidden fees later on.
- Effective Support System: There is a responsive customer service team available to answer any user queries about the platform.
Why Should a Trader Use RoFx?
Besides the features, there are a lot of benefits when using RoFx in comparison to many of its peer Expert Advisor programs in the market.
- A well-researched and Implemented Strategy: RoFx employs a proven strategy that has been implemented by expert forex traders in place.
- No need to download: Almost all major EAs require some software program to be downloaded, which can cause problems for some users. However, in RoFx, users can simply visit the website and use the service directly from there.
- Minimizing human emotions: A significant part of a trader’s mistakes can be attributed to negative human emotions such as greed and fear. By using RoFx, they can avoid these emotions as the EA executes trades automatically, based on its strategy.
- Consistency in Trading: RoFx helps traders to stay on a consistent trading plan, which increases the chances of success.
Is RoFx regulated?
Is RoFX under the regulation? Yes, it is. The RoFX conformity by the top Forex brokerage firms of the USA, Europe, and Asia reflects its legitimateness. The above-mentioned are accredited and inspected by FCA, NFA, FSA, FC, and other corresponding authorities. Although, RoFX itself is a machine learning algorithm and software company, so there is no need for RoFX to be regulated directly.
Live Trading Statistics- RoFx
RoFx provides live trading statistics on myfxbook.com, which potential buyers of this service can check out.
The above account was updated 8 hours ago from the time of writing. It shows a gain of 676.84% and a total profit of 67683981.00, which is impressive. Because the drawdown rate is very low at 0.35%, we can say that the strategy is a low-risk one that novice traders can use. The majority of EA’s which claim to deliver high profits have very high drawdown rates, which is an indication of a high-risk strategy. However, in RoFx’s case, it is extremely low.
Final Thoughts
After looking at all the details, RoFx shows all the signs of being a good forex robot or EA. RoFx is regulated and ensures transparency to its users. It’s easy to use service, which requires no downloading. The trading account hosted on myfxbook shows that RoFx indeed delivers on its promises, with a very low drawdown rate, which ensures that it’s safe. Even though only one percent of novice traders have ever been successful in the forex market, using RoFx can certainly increase those chances significantly.
