TMCnet Feature
June 25, 2020

ROFX Review - A Reliable Automated Trading Tool



The modern forex market is almost saturated with tools and robots which provide automated trading facilities to their clients. This has paved the way for a growing number of a novice as well as experienced traders to enter into this highly profitable market. A good example of an automated forex robot would be ROFX. ROFX is regularly included in compiled lists of the top forex robots lists in trading circles around the world. This review will aim to find out why.



ROFX is one of the best known automated trading robots for forex and provides guaranteed coverage of losses. Created in 2009, ROFX has since carved a reputation, assisting numerous traders to make fortunes starting from 2010. They have given even novice traders the opportunity to enjoy the fruits of successful forex automated trading, even those without any formal trading experience or technical knowledge.

ROFX has a number of experienced and qualified developers on its team. Since beginning operations, ROFX has opened offices across different countries. They currently have three offices located in London in the UK, Miami in the USA, and one in Hong Kong as well.

Benefits of Trading

Clients of ROFX have many reasons to trade using ROFX in the forex market. Some of them are highlighted in brief below.

  • Preventing The influence of Human Emotions: ROFX strictly implements specific algorithms which it uses in its automated trading process. This prevents traders from manually trading on the market, especially if they’re under any emotional pressure such as stress, greed, anger, etc.
  • It’s Novice-Friendly: The forex market is a complicated landscape for many to navigate. It requires special knowledge, the ability to analyse the markets, and experience in a live trading environment. However, traders using ROFX do not need these. While there is a small percentage of novice traders who earn profits in forex, using ROFX EA increases those chances by manyfold.
  • Consistency: Clients of ROFX can achieve consistency in trading if they use ROFX properly.
  • Efficient Trading Strategy: ROFX uses proven trading strategies that are profitable under live trading conditions. Traders can thus skip their trial and error approach and trade in a more disciplined and organised way.
  • Automation: Manual trading has its limitations, especially the need to invest substantial human hours on the actual trading process. By using automated trading robots like ROFX, users do not have to directly involve themselves in trading and can devote the extra time towards other activities.

Some Standout features of ROFX

  • Daily Profit: ROFX users can earn a daily profit at the end of each daily trading session if the day is profitable.
  • Easy Start: Starting to trade with ROFX EA is pretty easy. Users can start trading with a trial short-term investment for the next 30 trading days.
  • Deposit Security guaranteed: The Reserve fund of ROFX is regularly amended to ensure the utmost deposit security for its users.
  • Minimum risk level: ROFX markets itself as a “no loss forex robot” and provides a stop-loss system for stopping trading when the loss is at a minimum.
  • Transparency: ROFX does not charge any hidden fees. All expenses are detailed on the official website.
  • Return of Funds: Traders can recover their invested funds anytime.
  • 24/7 Support: ROFX provides customer support for its users on a 24/7 basis with an option for live chat.
  • No leverage: ROFX does not work with any leverage. It uses only its own funds for trading as well as funds from customers.

Trading Record of ROFX on myfxbook

For potential users of any Expert Advisor or forex robot, it becomes a crucial practice to check the authenticity of any claims made by Expert Advisors, especially when it comes to their profitability. A good way to do this is to check for statistics from live trading accounts, hosted on an authoritative, third-party site such as myfxbook.

In ROFX’s case as well, we shall examine the account stats provided by them on myfxbook. The screenshots are attached below.

Both the trading privileges and the track record can be confirmed by the information provided in the tab above the chart. In ROFX’s case, it is a real account using the Ester broker. The tab at the bottom left corner also indicates that this chart has been updated recently, providing evidence that this is indeed an updated chart. This proves that the records are indeed genuine and the user is not being presented some made up screenshots.

When going over the statistics we can see that this particular account had an initial deposit of $10000000.00 and currently has a balance of $$55780486.00. The profit hence made on this account is $45780486.00. This particular account has equity of 100% which is always a favorable statistic to have. The daily and monthly profits of this account is at 0.26% and 8.07% respectively. This account overall has gained 457.8% with an impressively low drawdown of 0.35%.

Another aspect that is important to highlight on this account is the enormous growth it experienced within a relatively small period. It has produced a profit of 46.52% already this year, as indicated below.

All other aspects of this myfxbook account seem fine, including other trading charts, trading activity, and the advanced trading statistics available. One of the biggest priorities of ROFX is providing transparency and it certainly does not disappoint when it comes to the myfxbook account statements. Only open orders and open trades are not revealed.

Conclusion

Many people tend to include ROFX in the list of top fx expert advisers lists that they come up with and for good reason. The EA has shown itself to be reliable, developed, and produced by a credible team of developers, with proven track records to show. In the above review, we’ve taken a look at their myfxbook page as well which further gives evidence to the reliability and credibility of this EA. However, Users have to be aware that this EA cannot be downloaded. Instead, users can create an account for free on the official webpage, after which he/she will be redirected to the payment packages available.



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