RoFx is an electronic automated trading robot operating as an online software agent for the Forex market. The software was developed in 2009 in London. The company has offices in the UK, the US and Canada.
The system is based on Artificial Intelligence and Neural Network, unlike electronic trading platforms, and uses algorithms generated by the robotic automation software, which analyses the market and allows people without special financial background or trading experience to execute complicated foreign exchange market deals. Due to the full automation, all manipulations on forex market are made by the robot without human intervention, excluding human factor, which, according to the developers, almost eliminates human error.
The robot is programmed to analyse charts, foreign exchange market situation, the global economic influence, the trading platforms, social and political conditions, as well as monitor currency pairs and send unlimited trading signals. Trading experts use technical analysis methods to train the robot, after which the robot self-learns the strategies and compiles them into algorithms. These algorithms also feature rationally set stops and risk management parameters. The built-in stop-loss system stops trading at minimum loss by recognising market situations that are risky for an investor, and the ones where profit is possible. The platform also provides a guarantee of a security deposit with a loss-coverage system that reimburses investors with money from the system’s reserve fund if negative occurrences of trading take place.
One of the features of Rofx is not using leverage in trading, intending to protect investors’ accounts from bankruptcy. The adaptive AI is constantly self-improving by adjusting to market conditions and learning to close market deals with higher profits, putting into consideration various fundamental and quantitative complexities.
Encryption and privacy
The system ensures secure payments and withdrawals on an encrypted platform, allowing anonymity and privacy.
In January 2017 Rofx announced on its website that with growing complaints in the media on Coinbase and Bitfinex regarding outages and pending transactions issues, the system opened cryptocurrency trading in Bitcoin and allowed its users the facility of same-day Bitcoin exchange.
Average daily profit of the service declared by the company is 0.38%, with monthly profits vary from 4.14% to 11.44%, based on trading reports. The users have an option to ‘calculate profits’ which allows to calculate daily profit and total balance by entering the amount of currency for investing in euros, dollars or bitcoins.
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