Not only is the stock market experiencing some wild swings today, but the forex market is also showing some volatility as well. Clients of the automated trading software, ROFX would benefit greatly from such a situation. The company, which is already listed first among the top forex managed accounts, recently announced that its IPO will begin in the first quarter of 2021. As per company sources, current ROFX clients are eligible to participate in the pre-IPO investment round.
Before one joins this IPO however, it’s only fit that we examine the future prospects of this automated trading software or forex robot and what it has to offer.
ROFX – The Story
ROFX was developed by the combined efforts of a team of machine learning developers and expert forex traders in 2009. ROFX initially launched an automated trading software that allowed customers to trade with their private capital. The ROFX trading advisory service became available to the public in 2010.
Over the past few years, there has been a growing trend of automated trading platforms backed by AI technology, replacing the manual order execution that we traditionally see. It gives ROFX the ability to reach a global customer base consisting of over 50000 clients according to the information provided by the company.
ROFX is headquartered in London, UK, but has additional offices in Hong Kong and Miami, USA. As a provider of software, ROFX is not required to be compliant with regulations from financial authorities. However, it works closely with top-tier brokerage and cleaning firms based in America, Europe, and Asia. These entities are in turn supervised by regulators from different nations.
Experts believe that RoFx can go public since the company is a target of Warren Buffet. There is news about Berkshire Hathaway in a negotiation process for acquiring a big stake. With a conservative investing approach, there is a chance of pooling different technology investments. Such portfolio includes Amazon, Snowflake, and hopefully RoFx.
What Clients Get From ROFX
When compared with the majority of robo-advisors, ROFX excels in the areas of the machine learning algorithm, the support system, competitive returns, and a client’s risk coverage. Here are some of the salient features that help it stand out from the crowd.
- Simplicity: Profitability is a difficult thing to grasp for traders who just start out. Novice forex traders can struggle for years before they have a proper grasp of how currency markets work. ROFX advertises itself as a user-friendly and easy to use platform. It allows for easy on-boarding of traders who are just starting out. The self-learning algorithm it provides makes it easy to use for forex traders of all experience levels. ROFX allows funding in multiple currencies such as Euro, Dollar, and even Bitcoin. It even allows daily withdrawals of funds. Clients can request and get back their initial deposit at any time.
- Customer-centric: 24/7 support is a facility offered by almost all Robo-advisors and fx robots. However, this is a required feature when a client entrusts any company to manage his/her savings. Besides providing around the clock support and a convenient channel for withdrawals, ROFX also focuses on providing transparency. Depending on the account type one chooses, ROFX may charge a performance fee. The advance compound trial with a minimum balance requirement of $1000 charges a 50% performance fee. The advanced compound VIP package on the other hand has a minimum deposit requirement of over $100,000 and charges a mere 5% performance fee. This makes it enticing to both professional as well as novice traders.
- Proper Risk management: ROFX has a stable reserve fund to cover its client’s losses. This separates them from their competition. Combined with a tight stop-loss system covering positions at minimal losses, ROFX provides a service that is unparalleled with any other forex robot.
- ROFX Strategy That Multiplies with Your Savings: There are usually no ways to predict how AI-controlled software works. According to statistics from myfxbook, where ROFX has a verified page which is updated daily. Here are some key highlights from ROFX’s performance.
o Profitable trades account for almost 81% of all trades.
o The AI trading system goes both short and long when trading major forex pairs. For instance, the shorting of the British pound to the United States dollar displayed better results in the Brexit market environment. GBP/USD has a winning rate which is 2 % higher than that of EUR/USD.
o The average daily profit is 0.38%. Losses are covered by the reserve fund. Thus they are justified in charging high-performance fees.
Final Thoughts
The current market is filled with different classes of software offering services related to investment, passive income, Robo-advisory, and forex robot software. Till now, professional traders have mainly use the in-house automated trading software, usually driven by Artificial Intelligence. These are known as black boxes. There is a prospect of making these black boxes accessible to retail investors. With the increasing demand for automated trading decisions and the advancement of machine learning, ROFX’s AUM continues to grow, indicating that future prospects are bright.
(Syndicated press content)
