RoFX claims to be developed by a group of experts in trading. It is an automated system, and according to them, they are the most profitable in 2010. Part of their promotion is to tell the traders that they are producing consistent profits. But, the question is, are they providing the 10% ROI they claim to provide?
This RoFX review will provide evidence to prove this app is a scam. At first look, you might find it as a reliable site. However, once you know how the company does its dirty works, you will stay away from them.
What is RoFX?
RoFX is a trading software that involves an advanced charting package, thorough back-testing, and different Expert Advisors. To assure the clients that their funds are safe, the company promises to cover any losses using the reserve funds. Also, through their forex robot, they guarantee daily profits. The app is a web-based platform, but you will notice no visible trading conditions when you register.
How does it work?
RoFX is not the standard EA developer. They claim to be using a Forex robot, but we are doubtful. Although the developers advertise the app as automated robot trading, they do not provide the usual auto trading element.
Before you could trade using RoFx, you need to register first. Registering is free, but if you want to continue, you need to pay the minimum amount. The Forex robot will then generate trading signals. Their robotized Forex trading will then reproduce trading signals to your again. You will get your profit at the end of the day.
Why RoFX is a scam?
We have been mentioned earlier that RoFX is a scam, and you should not trust the app. Below is the evidence to prove our statement. A legitimate or reliable Forex trading system would show proof as much as possible to convince the investors they are legit. But they were not able to show any of it.
Date of launching
On their website, they mentioned that they have been trading in the Forex market since 2009. But, we cannot find any proof about its operation for the past ten years. What we can find is information online, and many are contradicting to their statement.
There is a part on their website intended for the charity they have completed. It was mentioned in this section that their Edu Program had helped more than 30 million children. But there is no proof about it. To check if they have been operating since 2009 we check WHOIS domain search and found out that the website was created in 2016.
RoFX.net provides service to people but to do this legally. They need a license from a financial regulatory authority. But upon checking, this app has no license from any regulatory body. Putting your money in unregulated companies is not a good idea. It only means that the company is operating illegally and is a clear sign that it is a scam.
Also, there are warnings about the regulatory authority from FCA of United Kingdom, Canada’s financial watchdog and CONSOB of Italy. The warnings state RoFX is not regulated and is operating illegally. This only means that you should stay away from this company.
Not disclosing real information
There are many things hidden from their clients, like no information about the trading track record, currency pairs RoFX trade or their trading timeframe. It is a must for the company to provide such information to their investors. But, this company does not do that. Investors were asked to deposit money, but they failed to provide any information about the assets the funds will trade. Also, they do not disclose the marketing strategy they are using. It is evident. They are not a legitimate forex trading company.
There are lots of issues with the way the owners are operating. It only proves that RoFX is a scam and people should not invest in it. They convince people that they are legal and reliable, but in the end, investors are losing their money. We could find other discrepancies on their website to further prove that you should not trust it. If you are a victim, feel free to comment below. Your comments will greatly help us to confirm this app is a scam.
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Is it safe to trade with RoFX?
No, never invest your money in this platform.
Is RoFX regulated?
No, it is not regulated. They claim the need not to be licensed as it is working with European and Asian regulated brokerage platform. Any trading company needs to be at least have a license from SEC to operate.
Should I trust on their FX Robot?
The RoFX is one of those scam trading apps whose work is to encourage people to invest and then steal the money.
⊛ Do you have any extra proofs? Please share them in the comments below ⊛