What is RoFX Forex Robot?
RoFX is a company that will take your money and place them to be traded by their robot into Forex Market. The funds are managed by an AI Robot which teaches itself how to trade – at least this is what they claim. And there are many other bold claims. But let’s keep an open eye and see what we can find about all this.
There are so many questions about transparency that I really think that this is not a real product to invest your money. First of all the first red flag is that you need to send your money to them to get started and then they will send back your profit and money, and they will cover also your banking fee – really crazy, never heard of that. This is definitely like most of the online Ponzi schemes we’ve seen before.
There is no detailed information of what kind of the trading strategy they use, being it Elliot Wave, or simple EMA cross, or some breakout – nothing, nothing at all.
Red(SCAM) Flags to be Aware of RoFX
Now let’s take a look at more red flags we’ve spotted while checking this product
Who is David Linden – CEO of RoFX?
A simple google query did not find anything about him, nothing at all, just the same as of a politician and some researcher.
Where are they located?
All the addresses are general – and besides this there is a user who tried to go to their office – and guess what – nothing is there. Here is a screenshot of his words
A lot of Fake Promo
2 of the top forex robot review sites promote it without any affiliate link. Let me tell you this – if there are money for these guys, then they definitely are from affiliate links. If they just have the link without any referral it most likely means they were paid to have a good review for them. And I really lost my trust in those sites.
No Regulation
Since they accept the money and trade them for you they definitely need to have regulation. And a reputable company will have this information on their site. Nothing like that. They claim that they work from 2011 but website is registered only on 2016-10-01. And being a .net extension instead of .com is strange as well for a reputable site.
RoFX MyFXBook Account?
too good to be true – look at the curve of it, and besides this the broker they use is not know by anyone, it could be some white label broker where you can manipulate whatever you want – this is really a great move from them to gain customer trust. But beware, this is not a real way most of the funds trade – and the profit is way too big for such a scale of money. Real traders know what I am talking about. The account is only from August 2018, while they calim to be in market for 11 years
Charity, Education and Help of Children
They claim that they donated $700k+ to different educational programs, and Wildlife Conservation Programs and for Children in developing countries – but again, with a simple query you will not find anything about that. Why this is a flag? Simple. Any company which respects itself and does such kind of donations they will have a lot of media around that and a lot of pictures how they do all these good. Helping others and PR for company.
Is RoFX a SCAM?
Definitely there are a lot of red flags for this one. It is up to you to decide what to do with your money, but I will tell you this – I am not going to invest in them at any time soon. I guess they will go out of business in next 1-2 years.
Summary:
Pros:
Good customer support – till the moment you ask about physical location and documents.
A lot of investing packages for you to choose starting from $1,000 and also cryptoCoins
Cons:
You can’t really see the trades in your real account, only if you invest 10Millions, but let;s be realistic – those who invest 10M will not buy this kind of marketing – they need to see the real guys before investing
A lot of Red flags – see above
Conclusion
Just make sure to understand your risks before trying to invest anything with them.
And while we are here it was interesting to see an add from a company which can help you get your money back from RoFX.
Is RoFX safe to Use?
Now it is your turn to tell me that. I definitely think it is not. When sending money to them it will be safe first to check the bank where you send the money, in which country it is and what is the regulation there about the trading activities. If you ever decide to invest money with them try to find their business name first – like a real one with real people behind it.
Most of the good comments online look similar, they all say the sum they invested and the product they chose, which is not the case for a real review. Keep your eyes open
Good Luck in your trading