What is ROFX
ROFX was started in 2009 by a group of expert software developers and forex traders who were looking to launch an automated trading platform.
Austin, TX , Oct. 24, 2020 (GLOBE NEWSWIRE) -- As per the The Investing Online Report, volatility in the forex market is nothing new as it is regarded as one of the most volatile markets in existence. The global forex market is an ideal place for traders who like volatility, which makes the perfect opportunity for ROFX technology users to profit.
ROFX which is a reputed name among online trading platforms, recently not announced that the company is planning to go public in 2021 via an Initial Public Offering. But the news of this IPO has broken the surface, according to sources familiar with the matter. It may indeed attract a lot of attention from investors, including big firms like Berkshire Hathaway, which is Warren Buffet’s firm, according to some reports. If these reports are to be believed, Warren is looking to add ROFX to his already existing pool of technology investments consisting of Amazon, Apple, Snowflake, and others.
The news of ROFX’s IPO is certainly encouraging for many investors. They can make a well-informed decision if they take a look at all the features and statistics in detail.
ROFX: How it began?
ROFX was started in 2009 by a group of expert software developers and forex traders who were looking to launch an automated trading platform. The following year they made their trading advisory service public. As the last few years have seen a major shift from using traditional manual order execution to automatic trading software, it presents a favorable scenario for ROFX to succeed. The platform already has more than 50000 global clients.
The company’s headquarters are in London, UK, with registered offices in Both Hong Kong and the USA. According to existing laws, ROFX is a software provider and hence aren’t required to adhere to any regulations from authorities. However, as ROFX is always committed to providing transparency, it co-operates with several brokerage and clearing firms in Asia, Europe, and America, which are, in turn, regulated.
What ROFX offers
There are a couple of features that ROFX highlights: 24/7 support, competitive returns, and a risk coverage fund, not to mention the machine learning algorithm. We are highlighting some of the key highlights of the trading platform.
● The simplicity of the Platform: It may be surprising to know that starting to trade is one of the most difficult parts of one’s trading journey. Various studies have shown that a sizable proportion of novice traders require years of experience. However, the easy machine learning algorithm of ROFX makes the initialization process pretty easy for new traders. The UI is user-friendly and removes any doubts that a novice trader might have in mind. They also provide funding options in different currencies, including the Dollar, Euros, and Bitcoin
● Customer-oriented Approach: 24/7 support is almost a prerequisite when it comes to trading with automated software. It’s a required feature that makes trading reliable and is expected from customers who have their savings managed. In this aspect, ROFX provides five-star customer service, with a responsive team working on a 24/7 basis. ROFX also charges a performance fee, which varies with the account chosen. For instance, the fee for using the advanced compound trial account is 50%, while that of the advanced compound VIP package account is 5%.
● Strategy in place: No human can foretell what an AI-driven system will perform, facing with diverse market conditions. However, by looking at some of the stats provided by ROFX on myfxbook, an authoritative site, we can assess how it has been performed to date. According to the Myfxbook page, we get the following statistics.
Profitable trades account for 81% of total trades.
The reserve fund covers losses that the users suffer and also maintains the average daily profit of 0.38% for each user.
The software is capable of going short and long on all major forex pairs, with the GBP/USD pair having the highest winning percentage.
The current market is filled with various providers of automated trading software, investment management, passive income generation, and robo-advisory, making it difficult for newcomers to choose. ROFX is smaller in size compared to some of the industry heavy-weights such as Bloom, RobinHood, and Acorns. However, this news brings with a lot of positive trading sentiment for ROFX, putting it in the same space as the aforementioned companies.
Combined with a customer-oriented approach and full transparency, ROFX’s credible reputation in the market and the news of this impending IPO makes their prospects brighter.
Top Risk Management: ROFX uses its reserve fund to cover any loss which clients experience. It also makes use of a tight stop loss system that covers positions at minimal losses. In this aspect, ROFX is unparalleled by its peers.
Website URL: https://theinvesting.online
Media Contact: John Pruglos
The Investing Online
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