The global forex market stands at an outstanding daily trading volume of more than 6 trillion dollars. This makes the forex market the best vehicle for gaining some profits, provided they play their cards right. The current volatility in the market is sure to help users of automated trading software especially that of ROFX, a front-runner in this field.
ROFX recently announced plans of going public through an Initial Public Offering in 2021. The company has reportedly attracted the attention of quite a number of big investors in the world. The rumor is that this includes Berkshire Hathaway, which is Warren Buffett's investment conglomerate. They are potentially holding negotiations to acquire a large stake in the company. Warren Buffett has looked to strengthen his holdings with a pool of technology investments which could include ROFX.
As the news of this IPO is spreading, it only seems plausible to take a look at the various statistics and features that this software provider has to offer.
The Story of ROFX
Founded in 2009, ROFX was developed by a group of forex trading experts and software developers as an automated trading software which traded using their own capital. In 2010, their trading advisory service was released to the public. As the shift in usage occurs to more automated trading solutions rather than standard manually driven order execution, the time seems right for ROFX to expand upon its 50000 strong global user-base.
The company's headquarters are in London, UK. It has expanded to other countries with offices in Hong Kong and Miami, USA. As a software provider, ROFX is not required by law to be under regulations from financial authorities. However, it still works closely with various American, Asian, and European brokerage firms and clearinghouses, which are in turn regulated. This ensures maximum transparency.
ROFX: What it brings to the Table
Some of the salient features of ROFX include a risk coverage fund, competitive returns, and a machine learning algorithm. Users of ROFX prefer the platform because of the following reasons.
One of the biggest advantages of using this platform is its simplicity and user-friendly UI. One of the most difficult parts of a novice's trading journey is beginning to take that first trade. However, it's a fact that the majority of new forex traders don't succeed for several years after starting. The machine-learning algorithm which it uses can make the initiation process simple. Funding is available in different currencies including Euros, Dollar, and Bitcoin. They provide daily withdrawal facilities that allow clients to get back their initial deposit upon request.
Proper Risk Management
To cover the client's losses, ROFX has a reserve fund in place. It uses a proper and tight stop loss system that covers positions at minimal losses. This makes ROFX cut above the rest of the competition.
Targeted to Customers
Providing 24/7 support has almost become a staple among automated trading platforms and software. However, it's a required service when someone is entrusting a company to manage their savings. With a responsive and well-experienced team in place, ROFX provides customer care services around the clock. The company also provides multiple channels for withdrawals. ROFX also charges different rates of performance fees. The fee for the advanced compound trial account is 50% while that of the advanced compound VIP package is 5%. This makes ROFX attractive to both experienced as well as novice traders.
Strategy for Maximum Savings
No one can predict with 100% assurance of how an artificial intelligence-driven software will perform in the future under different market scenarios. However, one can get the basic idea about how ROFX performs from its verified myfxbook page.
The trading stats on the page are regularly updated. Some of the highlights include the following
The number of profitable trades is 81% of the total.
Reserve fund cover losses as well as maintain the average daily profit of the users at 0.38%
The software is capable of going short and long on all major forex pairs. The GBP/USD pair has the highest winning percentage, 2% higher than the EUR/USD pair.
The current market is filled with multiple providers of forex automated software, Robo-advisory, passive income generation, and investment management. ROFX has become a reputed name, even though the company is smaller than the likes of its competitors such as RobinHood, Bloom, and Acorns. However, ROFX can be mentioned in the same space as the above companies as news of their going public spreads.
Thus, ROFX is committed to providing transparency and a customer-friendly approach. Thus the success of the ROFX IPO will be bolstered greatly by these conditions and the changing habits of traders.