RoFX was created by a team of software developers and traders in 2009 before being made available to the public one year later. The system is fully automated and seems to be targeted towards beginners without much experience, along with more advanced traders that don’t have the time to trade consistently.
Overview
RoFX was created to place trades automatically on one’s account, which makes it a good choice for any investor that is just starting out. The website points out that experience is not needed to use this system and that human emotions won’t negatively affect trades, which makes the robot more efficient than a human trader. Of course, these points could be made for any other fully automatic trading software. Here are a few of the system’s features:
- Ability to see your account transactions from the “history menu”, including your profit and any performance fees that have been applied
- Account statistics and analysis is offered
- Works with the MetaTrader 4 platform
- Losing trades are protected by AutoTrader and each trade uses a stop loss
- Does not use leverage; only trades with your actual funds and those of the company
- 24/7 customer support
Developers don’t spend a lot of time explaining how the robot trades or what contributes to its decisions, however, traders are given control with the “history menu” where they can review all of their trading results. Still, it would be nice to know more about the algorithms that are being used.
Service Cost
Traders can choose from several different packages, each of which requires a different deposit minimum, trade for a different amount of time, offer a different share in the profit, and charge a different performance fee. Here are a handful of options from the website:
The TRIAL package requires a $1K – $5K deposit, trades for 30 days, provides a 40% share in your trading profits, and charges a 60% performance fee.
The MONEYMAKER package requires a $10K – $50K deposit, trades for 270 days, provides a 65% share in your trading profits and charges a 35% performance fee.
The VIP package requires a $100K+ deposit, trades for 270 days, provides an 85% share in your trading profits, and charges a 15% performance fee.
A few other packages are available, including advanced compound and no lock versions. According to the website, the developers of RoFX actually guarantee coverage of any losses that are incurred on behalf of the robot thanks to their “reserve fund”. Also, note that withdrawals are free, and traders are compensated for any charges that do apply.
Conclusion
RoFX was created to provide an automated trading solution to common trading problems, such as lack of experience and the downfalls of human emotions when it comes to trading decisions. The system uses a stop loss feature on every trade, along with promising to cover any losses through a special fund that has been set aside. There are several different packages to choose from, which can honestly become a little confusing if you aren’t used to dealing with this sort of thing.
On the bright side, the robot takes its profit from a predetermined percentage of your trading profits, rather than requiring a large fee upfront. You can even purchase the TRIAL package to test it out for 30 days if you’re on the fence about making a larger purchase. We were a little disappointed that developers didn’t spend more time talking about this robot’s strategy, however, user reviews seem to point to this being a legitimate system that is profitable, so it is seemingly worth investing in, even if you decide to start with a smaller package.
RoFX can be found at the following web address: https://rofx.net
