Forex trading has been there for quite a few years now. Advancements have always been the dream of man to make life much easier for them, hence the development of Forex trading robots.
These robots have also been around for close to a decade now, with more sophistication and efficiency added as time goes by. Whenever a big trading robot hits the market, everyone will want to know whether it is a scam or not.
You can’t blame anyone as there are actually so many Forex trading robots currently which are not so much legit.
In this article, we will take you through ROFX.net after which we will give you our verdict on the Forex website. The article will also help you to identify whether this Forex robot is a scam or not.
How does the ROFX.net trading robot work?
The ROFX robot analyses the market using preset complex algorithms and is used to make timely decisions which are more geared towards making more profit and minimizing risks and losses. Since everything is automated, even novices can also make profit from trading as all they need is an account and the robots will take care of the rest.
Why ROFX.net is worth it
ROFX.net has had a consistent profit margin ever since 2009 without recording any serious losses. With an average daily profit margin of about 0.38%, this can be projected to give an annual profit of 95%. Unlike any other robot systems, there is a guarantee of security of the initial deposit.
This means that should there be a day where losses are made, they are covered by the Reserve Fund. This is a great advantage to the trader as you will be able to minimize risks and just letting your money do the work for you without having to keep an eye on it 24/7.
Having looked at several reviews on ROFX and having tried it ourselves, we can boldly say that the robot is doing its work as it should – thanks to the numerous positive reviews and almost no negative ones.
The robots have been designed with the latest technology which is able to make trading decisions regarding the latest market trends.
How to identify fake Forex trading robots
Advancements in technology don’t only mean well, they can be used for bad things too. There are various ways people can con traders and usually end up stealing their money or being arrested by the authorities.
Some developers of these robots might usually just be people who have some knowledge on trading and will want to mint some quick bucks from unsuspecting traders. A Forex trading robot is only as good as its developer, so if the developer is not much qualified, the robot might incur some losses.
These robots are also susceptible to scams and other forms of attack if you do not get them from trusted companies such as ROFX.net. So how will you know the trading robot is a scam? Take a look at these points:
- Fake Forex trading robots will only offer back tests as proof of how profitable they are. This is because it is easy to optimize the settings of the trading robot to suit the available date only. Backtests are not a reflection of what the current market holds hence isn’t a clear indication of how profitable the robots will be.
- Fake trading robot companies will feed you demo account statements. Always insist on live trading statements as they give a more clear indication of whether the robot is as efficient as it deems to be. You can use myfxbook ROFX to check and confirm whether the robot delivers or not.
- the RoFx robot is one of the robots having PAMM package which enables investor to choose any trading broker for funds transferring, thus the RoFx robot doesn’t have access to it. For more detailed information visit Investopedia: https://www.investopedia.com/articles/forex/010715/how-forex-pamm-accounts-work.asp
- Moreover, the RoFx robot covers incurred losses by the Reserve Fund.
In as much as trading doesn’t always guarantee wins, at least go for those sites such as ROFX.net which assure you profits, regardless of how small they are, and minimize the risks and loses.
Thus, after reading the article, you see why you should embrace Rofx.net as a legit software, and run away from most of the fakes you will see online. From the emerged facts, it is safe to say that the RoFx is the most credible way for investing and safeguarding of your funds.