[SCAM Alert! ] RoFx (EA) – Reviews and Verification
- The published result on myfxbook is very good
- Available by depositing in RoFx. EA and copy trade are not available.
- Suspected fraudulent (Ponzi) scheme
Basic information of RoFx
RoFx is an account management service.
You cannot buy EA or use copy trading.
To use it, you need to register with RoFx and deposit funds into them.
Depending on the size of the deposit amount, the profit and loss of the trade will be reflected in your account.
The usage fee is a performance fee, and a certain percentage of the profit is RoFx’s share.
Profitability and Drawdown
Broker: Ester (real account)
|(Information as of 2020-10-18)||Date||Balance|
|Total rate of return||+711.7%|
|Monthly rate of return (compound)||+8.4%|
|Profit trades (% of total)||81.0%|
Average monthly rate of return about 8%,
Maximum drawdown about 0.35%.
Has achieved such excellent results.
This system causes almost no loss on a daily basis.
The profit curve has a beautiful shape with no dents.
It’s especially surprising that the drawdown is less than 1%.
Looking at this result alone, everyone would want to use this system.
However, please note that it is dangerous to jump only by looking at this result.
Trading Method Anaysis of RoFx
Entry and Exit
RoFX trades between 0:00 and 12:00 in Greenwich Mean Time (GMT ± 0).
It starts opening positions at midnight and holds a large number of positions.
The number of positions that open in a day is about 350 to 450, which is very large.
I’ve never seen a system with so many positions.
Below is a plot of RoFx transaction history on an MT4 chart.
Even the 1-minute chart is filled with positions, so you can see how many entries this system has.
■EURUSD 1M White＝BUY Red＝SELL
You can see that it does not have only one sell or buy position, but both positions at the same time.
It makes a profit by anticipating the movement of the market in advance and having more positions in either one.
The long-term transaction history displayed on 1 hourly basis is as follows.
■EURUSD 1H White＝BUY Red＝SELL
In the transaction history image above, you can see that there are about 4 groups of positions.
This means that all trades are completed between 0:00 and 12:00 (GMT ± 0).
In other words, this system will not hold positions for more than a day.
All positions will be closed within half a day.
Transaction frequency and target currency pair
There are two currency pairs to trade, EUDUSD and GBPUSD.
It trades every day.
As already explained, the number of transactions is very high, and the average number of transactions per day is 430.
Explanation of trading method by RoFx
The RoFX website describes the trading method as follows.
- AI technology is applied to the ICHIMOKU chart for trading. It also uses the theory of Elliott wave.
- It trades by a self-learning system.
These are just explanations on the RoFx side.
I don’t know if these are true or not.
RoFx usage and conditions
To use RoFx, you need to deposit to RoFX.
In Forex fund management services, the pattern in which investors deposit money into the Forex broker account is the mainstream.
On the other hand, with RoFx, investors will deposit to RoFX itself.
The usage fee for RoFX is a performance fee.
Part of the profits earned from the trade will be distributed to traders and the rest will be distributed to RoFx as a performance fee.
The table below shows the distribution ratio of profits to investors and RoFx.
|Advanced Compound Easy start||5,000 – 10,000||190||60%||40%|
|Advanced Compound Moneymaker||10,000 – 50,000||190||75%||25%|
|Advanced Compound Gold||50,000 – 100,000||190||85%||15%|
|Advanced Compound VIP||100,000 – UNLIMITED||190||95%||5%|
|Trial||1,000 – 5,000||30||40%||60%|
|Easy start||5,000 – 10,000||70||50%||50%|
|Moneymaker||10,000 – 50,000||270||65%||35%|
|Gold||50,000 – 100,000||270||75%||25%|
|VIP||100,000 – UNLIMITED||270||85%||15%|
|NO LOCK Trial||1,000 – 5,000||Termless||35%||65%|
|NO LOCK Easy start||5,000 – 10,000||Termless||45%||55%|
|NO LOCK Moneymaker||10,000 – 50,000||Termless||60%||40%|
|NO LOCK Gold||50,000 – 100,000||Termless||70%||30%|
|NO LOCK VIP||100,000 – UNLIMITED||Termless||80%||20%|
You can choose from three types of account currencies: USD, EUR, and BTC, but there is no big difference regardless of which one you choose.
You can choose from the following three payment methods.
- Credit card
- Bank deposit
Compensation for losses in trading
The RoFx homepage states, “Even if a trade loss occurs, the loss will be covered by RoFx funds so that the investor will not lose.”
If you believe this word, traders will not lose unless RoFX goes bankrupt.
Is RoFx a Scam? Verify fraudulent elements
RoFx may be a fraudulent scheme (Ponzi scheme). They claim to invest and raise money, but they may not actually be trading.
We are not sure if RoFx is a scam.
However, I think we should suspect fraud, considering the following:
(1) Results from a mysterious broker
RoFx uses a mysterious broker called “Ester” as a public account for myfxbook.
Why are they using such a mysterious minor broker?
Perhaps they are cheating on their transaction history.
If multiple results are published by other major brokers, it will be a little more reliable.
However, the results of this broker alone are not reliable.
(2) The account that manages the funds of the investor is not disclosed
The trade results are published on Myfxbook, but this account is for public use only. No investor deposits have been added to this account.
The following is a graph showing the transition of the balance, and you can see that the increase and decrease of the balance is only the profit and loss of the trade, and there is no deposit or withdrawal of the investor.
RoFx claims that the investor’s deposit is managed by another account, but it’s unclear if it’s really managed.
If RoFx really manages the investor’s funds, they should publish an account with the investor’s funds.
Are they really trading?
(3) How to compensate the trade loss to the investor?
As already explained, FoFX seems to make up for the loss so that the investor does not lose even if there is a loss in the trade.
If they are actually trading all of the investor’s funds and a large drawdown occurs, it is never easy to make up for the loss.
Why can RoFx make such a promise?
Perhaps they can make this promise because the investor’s funds are not actually managed in the trade and there is no loss in the trade.
Don’t be fooled by the sweet word “no loss”.
(4) Office information is suspicious
RoFx seems to have offices in the UK, USA and Hong Kong, but I can’t really trust it.
It seems that they are trying to reassure investors by appealing their scale.
In the first place, is it possible to set up an office of a provider of high-risk financial products in the United States, where financial regulations are strict?
The photo shows a magnificent building, but I’m not sure if these offices actually exist.
(5) The PR video is suspicious
RoFx has released the following PR video, but to be clear, it’s too suspicious.
It is dangerous to believe in the content of such PR videos.
Summary of RoFx
The results on Myfxbook are very attractive.
There is no drawdown at all and the rate of return is excellent.
Anyone who sees this result will be interested and want to use it.
However, if you think calmly, you will doubt the possibility of investment SCAM. Most likely a Ponzi scheme.
I can’t recommend using RoFx.
However, it cannot be determined that it is a scam, so if you use RoFx, that’s fine.
However, as I have already explained, please be aware of the potential of SCAM.