RoFX Review: RoFX.net Scam or Legit?
RoFX is a company that offers clients a Forex account management services. The owners of this company manage clients’ accounts using a Forex trading robot that they created. The team claims that they are highly experienced in Forex trading and software development.
RoFX developers claim they created this trading tool back in 2009 after thorough research, and they believe the system is ideal for all ranges of traders. They say that you don’t need any kind of trading experience to use their tool.
It is natural for companies to make such bold claims about their trading system. What is unique with this company is that they promise to cover your losses in trading, and this is an exciting concept. But we will not just here that and invest with this company. We have to do thorough research to ensure all aspects meet the standards.
Unfortunately, we do not think this Forex trading robot is worth investing in. The design of the company’s operations makes it hard to trust and recommend fully. You would be better off if you stick with the best Forex trading robots in the market. Such systems are run by trustworthy individuals and have proven to work.
In the meantime, here is our review of the RoFX Forex trading bot.
RoFX Review
Perhaps the company’s most interesting thing is that they promise to cover clients’ losses using reserve funds. This way, they ensure clients they never lose their funds. Moreover, the company guarantees profits using their AI-powered Forex robot.
However, the company does not seem to have a focus on the services they provide. They claim they offer clients Forex account management. But, they claim that their software has an easy-to-use software interface for all traders, which creates the idea that clients will use the Forex trading robot.
But that is not the case. You create an account with the company, and they run your money through and automated Forex robot. This confusion makes us doubt that they can deliver quality services.
Another worrying thing is that we have no idea who is behind the operations of this company. RoFX.net does not introduce us to any of its team members. This lack of transparency is not something we appreciate. Moreover, investors always want to know the individuals running the company they are putting their money into.
That is the only way to verify that they have experience in Forex trading as they claim. Luckily, the company gives a physical address for their headquarters. The company operates from Northern and Shell Building 10 Lower Thames Street, 4th Floor London EC3R 6AD, UK. This means you can easily track them down if necessary.
Investment Plans
There are several investment plans that clients can adopt. The first one is the trial package, and this package gives clients a 30-day trading account with a deposit ranging from between 1,000-5,000 USD. This period allows you to test the full range of the services offered by RoFX.net.
Another investment plan is an easy start package. This one gives clients a 70- day trading period with a deposit of between 5,000-10,000 USD.
The Money Maker investment plan offers traders a 270-days trading period. This plan accepts a deposit of between 10,000 to 50,000 USD. The performance fee in this package is reduced to 35% of the daily profits.
The Golden Package gives traders a 270 days trading account. The deposit required for this plan ranges from 50,000 to 100,000. The performance fee for this package is 25%.
A deposit of over 100,000 gives you access to the VIP Package. The performance fee is reduced to 15%, and you get a 270 days trading account.
Further, there is a VIP PAMM package, and this is for big trading enthusiasts to trade with their preferred brokers and have complete control over their assets. This plan requires a deposit of 10 million and above.
Regulation and Customer Support
RoFX.net offers services to anyone, no matter where they are. Because of that, they need a license from the SEC. However, this company has no license from the SEC or any other relevant regulatory body. Investing in unregulated companies is very unwise. Such companies are operating illegally according to the law.
Moreover, there are regulatory warnings against the company from the financial watchdog in Canada and the Italian CONSOB. The warnings state that the RoFX is providing financial services illegally. It doesn’t’ get any worse than this. You should steer clear from this company.
In terms of customer support, the company has provided several channels to contact them. Clients can get in touch with the company via email through support@rofx.net or call them on +442039361401. While this may be helpful, some customers have complained about the quality of customer support offered.
Clients say that the company ignores any query about lost money. The company is supposed to cover clients’ losses. But his seems to be far from the truth. Furthermore, a customer says that the company keeps calling him to pressure him to make a deposit. He claims that they have been a nuisance that he is considering changing his number. This is a high level of unprofessionalism form RoFX.
Domain Insight
Looking at Whois records reveals yet another lie from the company. The developers claim to have been in the market since 2009. However, the website was founded in 2016. We do not see the need to lie to clients. The company is only exaggerating its time in the market so that customers think they are experienced individuals.
Furthermore, there are many things hidden from clients on the website. There is no information on the currency pairs the company trades or the timeframe they trade-in. A company should disclose such information upfront. But, RoFX does not do that. They ask clients to deposit their money with them without knowing the assets the funds will trade.
Moreover, RoFX.net does not disclose the strategy they use in the market. The company does the bare minimum to convince us they are a legitimate forex trading company.
Customer Feedback
Customer feedback is crucial in forming an understanding of what the user experience is like with a company. There are not many customer reviews on external forums. The only ones we could gather are from an unreliable site. Most of them are positive, but we cannot rely on those. The reviews may be from the company or its affiliates.
However, even on an unreliable platform, the company still has a few negative reviews. Some customers claim they lost money to the company. Further, a customer complains that the performance fee significantly reduces your earnings.
While there are both positive and negative reviews, we cannot form a conclusive stand based on these. But we recommend caution when dealing with this company. At the very least, it is not an entirely trustworthy company.
Final Verdict
At this moment, we cannot, in our right minds, recommend this company to you. RoFX is unregulated and is blacklisted from Canada and Italy. It would be unwise to invest in such a company. Furthermore, the company lacks transparency in the most critical areas.
For your peace of mind, use only the best Forex trading robots in your trading operations. They will give you consistent returns without compromising on your funds.
