Profiting from the forex market is not an easy task for many traders. It requires mental strength, perseverance, and experience to get a grip on those strategies which can consistently deliver profits. Manual trading had been the dominating form of forex trading until the last decade, with the emergence of automated trading.
Expert advisors have emerged as a class of automated trading software that aims to provide profitability to even novice traders in the market. In the list of the top forex robots lists around the web, one name is almost always featured. Here is a RoFx review for all traders who are planning to start trading.
ROFX is a forex expert advisor based on the neural network. It comes filled with loads of benefits that make them stand out from other forex robots. It’s a fully automated trading robot, which lets traders have full control over what trades are executed under his/her account. The software is programmed to constantly scan the market for the best trading opportunities available. In a way, it provides more control to the trader as compared to manual trading.
ROFX has more than 30000 customers worldwide and since 2009 it has expanded with offices in the United States, United Kingdom, and Hong Kong. There are several types of trading accounts that can be opened with ROFX. These include the trial account, easy start account, Gold account, VIP PAMM Account with minimum deposits starting from $1000.
Salient Features of ROFX
There are various reasons for the popularity of ROFX among traders. Much of it can be attributed to the advanced and useful features it provides to its users. Some of them are listed below.
- Deposit Security Guarantee: ROFX can guarantee the security of deposits made by traders. The regularly amend directives related to its reserve fund.
- Daily Profit: Traders can claim the generated profit of every single day, provided if the trading day is profitable.
- Easy to Start: ROFX is user-friendly and allows novice traders to get off to a good start.
- Funds Return: ROFX users can withdraw their funds at any time they wish and are not restricted by any time limitations.
- Minimum Risk Margin: To protect the trader’s account from unnecessary losses, ROFX has introduced a stop-loss feature for traders.
- Transparency: ROFX prioritizes transparency over everything else. They provide all the necessary details on their website and have no hidden fees.
- 24/7 Support system: ROFX provides a responsive 24/7 chat service that is capable of answering almost all customer queries. They can also provide technical help through the live chat service.
Advantages of Using ROFX
ROFX has some pronounced benefits which give it an advantage over other EAs. Some of these are mentioned below.
- Starter-friendly: Novice traders often struggle when they’re first faced with EAs which are complicated. The simple, user-friendly nature of ROFX helps new-comers to get on-board fast. This drastically increases the likelihood to get profits faster as compared to manual trading.
- Trading Strategy – ROFX employs a comprehensive trading strategy that is formulated by forex experts and developers. This makes it easier for beginners to rely on the software, rather than the usual “trial and error” method in manual trading. This prevents any unnecessary loss.
- Minimizing Human Influence: Manual trading requires the trader to be attentive throughout the active trading session. They cannot leave their seats for the fear of missing out on trading opportunities which could be profitable. Also, the influence of human emotions is also a critical factor in executing trades. During manual trading, it becomes nearly impossible at times to prevent the effects of stress, greed, fear, or any other emotion that gets in the way of rational trading opportunities. Thus, all these factors are taken into account when ROFX automates the entire process, allowing for rational trading decisions following a set strategy.
- Trading Consistency: By using ROFX, traders can achieve a level of consistency in their trading that is very difficult to achieve in manual trading.
Trading Record of ROFX on myfxbook
As most traders know, the market is currently filled with many EAs claiming that they offer the best returns. However, to actually verify these outlandish claims, potential users can go to myfxbook or a similar authoritative site and seek statistics on live trading accounts. ROFX has done the same and provided us with an account hosted on myfxbook.com.
The above account has registered a profit of $46042706.00 and currently has a balance of $56042706.00. The tab on the top indicates that this is indeed statistics from a live real account and not a demo. The tab on the bottom left also indicates that these stats have been updated recently (15 hours ago as of writing this article). All of these point to the legitimacy and verification of ROFX’s trading practices.
The account further shows that the total profit earned is 460.43% with a drawdown of 0.35%. This is very critical as the drawdown percentage indicates that it is a low-risk strategy. All other aspects of this account seem to be legitimate, backed up by a reliable verifiable entity.
It should be noted that unlike some other EAs, ROFX uses its own platform. It is not downloadable, with users instead logging in and creating an account directly on their official website. Options for payment are also included on the website.
Overall, ROFX shows much promise thanks to the ample amount of beginner-friendly features that it provides. It has records of previous profits it has earned and has a monthly ROI of almost 10%. In such an oversaturated EA market, ROFX stands out for the factors explained in the article.
There are ample reasons to like ROFX and even more to justify its position in top fx expert advisers lists. It is a verified and tested expert advisor who has provided all enough proof to make a favorable judgment. Positive client testimonies which are found on various forums are also proof of their excellence and ability.