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How Is Robot Impacting The Automated Forex Trading Market Scene?
The adage that only one percent of all novice traders make a profit in their first has seen most individuals shy away from the markets and in effect miss out on all it has on offer. A large portion of these individuals are often discouraged by the often tedious, time-consuming, and financially draining trial and error period they are often subjected to.
The automated robot forex trader, Rofx.net, however, seeks to debunk this old myth and help both novice and experienced traders invest profitably. But how does it guarantee profitability and what factors make it more effective than most other automated FX traders available?
Revolutionary features making RoFX.net unique
According to the RoFX developers, this system features some of the most advanced trading tools in the market. Unlike most other semi-automated trading systems, RoFX is fully autonomous and runs throughout the day ensuring that its investors reap maximally from the different forex markets. This is made possible by the machine learning and artificial intelligence algorithms embedded in the system’s root directory.
These are able to conduct independent market research, analyze current events, predict their impact on the market, and make informed trade adjustments. Interestingly, these trades are executed from company servers thus saving you the hassle associated with downloading and configuring complicated trading tools.
Key features of RoFx system:
- You can start trading without special knowledge;
- 24/7 support is always glad to help you;
- User-friendly product interface;
- All deals are run by the auto-trading script. You’re free to do whatever you want;
- Payment includes various methods like Bitcoin, Visa/MasterCard, direct bank transfer;
- VIP PAMM package allows you direct funds’ transferring to the account at any time;
- Easy and fee-free withdrawal;
- Solid daily (0.38%) and monthly (10%) profit.
Investors don’t need previous trading experience
One of RoFX.net’s key strengths lies in the fact that trades are analyzed and executed from within the company servers. Therefore, investors need not worry about the hassle associated with downloading different desktop and smartphone applications or the complicated configuring and trade execution processes.
Ideally, a trader is only required to open a virtual account with the forex trading company, hosted on their servers. They can then use it to deposit funds depending on their preferred package and also make withdrawals of profits earned. The simplicity of the account creation, deposit, and withdrawal, as well as trade execution, eliminates the need for prior trading experience on the part of the investor.
Fully automated trading solution
How is a forex trade executed? Traditionally, experienced analysts and market leaders would spend most of their time analysing historical data and comparing it to current events in the industry in a bid to predict future trades. Even with the advent of machine learning and artificially intelligent trading algorithms, most companies still insist on having the analysts review the trades before sending them out to their subscribers.
RoFX.net system bypasses the analyses by fully automating the trading process. Their algorithms oversee the trading system in its entirety by monitoring events in the industry and using them to make and execute informed trading decisions in real time.
Ranks highly compared to other automated bitcoin traders
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Unlike most robotic forex trade systems currently available, RoFx.net has found a way of infusing and automating cryptocurrency trade on their platform. It primarily focuses on Bitcoin trade and this makes the site one of the first to run a fully automated bitcoin exchange system.
Like fiat currencies, bitcoin price analyses and trade execution is carried by the AI and machine learning algorithms making up the site. This may to a large extent be attributed to the consistently high bitcoin prices reported on the site. The speedy trade execution is also attributable to the best bitcoin prices recorded on the site.
High profitability and free withdrawals
RoFX trading platform maintains daily, weekly, monthly and annual records of their AI trader’s performance. This detailed historical trading data indicates that the automated system has consistently posted high ROI with the daily and monthly profitability averaging 0.25-0.38% and 8-10% respectively. Additionally, the forex trading company doesn’t impose a withdrawal fee on the profits earned on the platform but rather assumes the bank charges, regardless of the package. Bank transfer, Visa/MasterCard, Bitcoin acceptable + Domestic ACH for US Customers.
Tracking trade history on MyFxbook
While the system may be fully automated with trade analyses and execution data maintained on the company’s servers you still get to see your trading history on MyFxbook. Here, you get to view your account performance by following its trading history. You also have access to the list of open trades at a particular time as well as its average daily or periodic profitability.
User-friendly interface that supports multiple funding sources
The forex trading company has one of the friendliest user-interfaces and understandably so, given that they have positioned themselves as the ideal trading space for novice investors. You, therefore, don’t require a special computer or trading skills to engage with their system by way of making a deposit, checking trade history or withdrawing your profit. This user-friendliness extends to its versatile web-wallet that allows for funding from such divergent sources as Visa/Master cards, bank transfers, and alternative currencies like bitcoin.
Loss coverage guarantee
There are days you won’t make a profit on the system. However, its steady stop-loss system coupled with the limited use of leverage ensures that the site customers aren’t exposed to losses. RoFX.net developers further provide a loss coverage guarantee by offering to reimburse any losses made by the AI trader using their reserve funds.
They also have a VIP PAMM package that gives you absolute control over your funds deposited with any broker. Additionally, the package allows for direct transfers between brokerage firms as well as unregulated same day withdrawal services.
Admiral Markets Group consists of the following firms:
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Reading time: 8 minutes
Forex trading is versatile due to the different trading styles, Forex strategies, and Forex systems that can be used. In the Forex market, there are traders of all levels of proficiency, and each type of trader will have different ways of working. One of the features of Forex is the split between the traders who want to manually trade, and those who want to utilise automated trading. This article will focus on automated trading.
What is a FX Robot?
Automated trading requires a lot of research to find the right software that will perform trades correctly. Sitting back and letting an automated device perform the work for you can be a real temptation, and it’s here that automated Forex trading robots come into play. An FX robot is a computer program that is based on a set of FX trading signals which help to define whether to purchase or sell a certain currency pair at any particular time.
Trading robots are available 24/7 to Forex traders, and can easily be bought over the internet. It is imperative to confirm that there is absolutely no such thing as the ‘holy grail’ of trading systems, regardless of the type they belong to. The question many ask is do Forex robots work?, or will choosing one turn out to be just another commercial scam? We’ve prepared this article order to address this question.
GPS Forex Robot
This the first Forex robots service in our list. This FX robots provider undoubtedly has something to offer to traders. If you already have experience and moderate knowledge of the financial markets, you may benefit from utilising these robots.
If you are trading using the MetaTrader 4 terminal, it would be preferable to use the advanced trade copier. Traders who invest a lot in the FX markets each month often favour this product. There is no monthly subscription at GPS Forex Robot, robot comes with $149 one time payment.
Overall, GPS Forex Robots are user friendly and provide easy access to good customer support – contact details are clear and they answer almost immediately, which technically serves a user well – which is one more reason why they are in the list of top Forex robots providers.
Itic Software, provides FX traders with a wide variety of service. They indicate to their clients when it is an appropriate time to carry out buy-sell actions of main currency pairs on the Forex market, based on analysis
Itic Software robots have multiple trading strategies. The wide service they offer is continuously tested by professional traders, products are not repaints, they always provide the source code and use unique mathematical algorithms only.
How Does a FX Robot Operate?
FX traders want to use robots because they hope to make easy money from the Forex market, without having to devote a lot of personal time to it, or do anything manually. Those who use robots have to find a good currency pair and the perfect time-frame to trade in it to maximise their profits.
Some Forex robots are capable of scanning numerous charts in a way that humans physically can’t. In addition, robots are developed with particular parameters needed in making trade decisions. With implanted trading signals, they determine when it is appropriate to trade, or conversely not to trade.
The best Forex robots suggest solutions to find profitable trades even in unstable markets, when the actual trending direction is unclear. Robots will follow the best trend to enlarge profits, and perhaps eliminate the chances of potential losses. Trading against the trend will eventually lead to loss after loss, whilst trading with it increases profit, no matter what method or robot is used to trade.
However, what must be remembered is that the majority of robots trade within a certain range. They make a particular amount of pips inside the tight range, during the slowest time on the Forex market, and they regularly set a few pip targets, and may not even use a stop-loss. They can be classed as successful, as they do tend to make profits in each trade, even if it is only a few.
When an unanticipated and strong range breakout occurs, it wipes out the small profits that they have made. Some robots which are promoted as the best Forex trading robots, can gain a profit in a positive trend, although they may lose money in a choppy FX market, so the discovery of a great trend to follow is an essential task.
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The Effectiveness of Robots
Though FX robots promise to make beneficial trades, not all of them are what traders expect them to be. Moreover, some federal governments consider them to be scams. In a similar way, you are not likely to find any article in Forbes, the Wall Street Journal, or any other respectable news source that promotes them.
What’s more, even online robot merchants try to move their robots in rank by claiming that their opponents’ ones are scams. A lot are advertised with false claims by people who have made serious money applying these systems. The truth however, is that a great number of investors and traders have lost a lot of money using so called ‘free’ Forex robots that work. There have even been circumstances in which whole accounts have been wiped out.
If you really want to know how effective robots are, you should check out reviews and authoritative testimonials online. Although they can scan millions of different charts within seconds, most often 90% will turn out incorrect information. This is understandable – because FX robots are just robots. Even though they are capable of performing highly sophisticated tasks, and many at once, every Forex robot or Forex robot free is still deprived of creative thinking. They cannot imagine what may take place in the near future, as their functionality is restricted to how they were initially programmed, as well as past performance.
For traders who use robots, they should not fully depend on it to conduct all of their trading activity. Ultimately, trading demands a considerable amount of human research and observation. Additionally humans, and not trading software, can actually follow up with diverse economic conditions, and keep up with the news in the financial world. Forex robots, which are thought to be Forex robots that work, can solely find positive trends as well as trading signals, but occasionally their functionality is unfavourably affected by either jittery trends or false information.
In addition, hackers and viruses may also hinder robots. All in all, automated FX trading software, or Forex robots, are nice opportunities for their designers to make money, but offer little benefit to you as a Forex trader. It is a debatable question – will a robot make you rich, or will it just wipe out your trading account?
One thing is likely – their developers can potentially become millionaires. Smart designers are aware that people yearn to make a lot of money, and try to ensure that robot Forex trading appears to be one of the finest ways that they can achieve this. Nonetheless, they exploit this as a possibility to design a robot, or any other software (or even a DVD, webinar, seminar, e-book etc) to sell and prosper.
If the robots they sell could actually make a huge amount of money through trading the currencies, then what is the point in selling them to others and not utilising them on their own Forex accounts? The answer is logical – robots can barely make money for a Forex trader. Can a $99 FX robot or a free Forex robot really make hundreds or thousands of dollars every month? If it could, you have to ask yourself – would it really be sold for such a relatively low price?
If it was this easy to earn money utilising robots, nobody would ever go to work. It is possible that robots can make money for a restricted time period, but they could start losing after awhile – and the money earned by the ‘best Forex robot’ with one position may disappear before you can claim it. In addition, the vast majority of robots are scalpers. They make just a few pips with every position they take – and they can set a considerably tight target. The chances of surviving with such a strategy are quite limited for a trader.
Successful FX trading is based on knowledge, proficiency and skill. It involves analytical thinking, and something visual. When looking at what are Forex robots, it is clear that they cannot properly work in this manner. Market conditions tend to change all the time, and only an experienced Forex trader can distinguish between when to enter the market, or when to stay away.
We have described the aspects of applying robots in Forex trading from a rational point of view. What we hope can be concluded from this article is that instead of spending your time and capital on things like automated FX trading software robots, it would perhaps be better to devote time to learning a good trading system.
Eventually you may become a professional trader who relies on experience and knowledge, rather than using computer algorithms and codes by someone who is not a Forex trader at all. It is completely up to you whether Forex robots are worth your attention – and only you can answer the question of: Do Forex robots really work?
Learn How To Trade Forex
It you would like to learn more about automation In Forex, why not read our related article?: How Does Automated Forex Trading Work? Additionally, did you know that we also offer trading courses for beginner traders? Learn to trade step-by-step with our educational course, Forex 101, featuring key insights from professional industry experts, click the banner below to register for FREE!
About Admiral Markets
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world’s most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.
Expert Advisors Reviews
The Actinic Forex Robot is an interesting system, which has performed rather well in the short period of time it has been running (about two months, at the time of writing). In fact one may argue, the performance is too good – this EA has gained around 50%, when taking into account the floating P&L. On the other hand it has made 125%, when looking only the closed positions. We will take a closer look at this strategy, to see where the catch is.
The development team behind the Actinic Forex Robot has not provided any information on the strategy behind this EA. When looking at the results, one thing immediately stands out – the system holds loosing trades open for a long period of time. Here are the open position held at the time of writing of this review (only including EUR/USD, click to zoom-in):
The pair in question has been on the raise, while this system is shorting it. In essence this is a countrarian grid strategy. It also appears to increase the size of future trades, although not with a precise martingale structure. The grid step appears to be set at 25-30 pips. This is a very dangerous type of strategy, as it can blow-up one’s trading account, if a market trend continues for a long period of time. For a more detailed explanation of the risks involved with grids and martingale read this article.
The Actinic Forex Robot has been running on a partially verified live account, tracked by FXBlue. It is worth noting, it is theoretically possible to manipulate the results of such accounts. Although FXBlue is an alternative to MyFXBook, the signs of a fake account, are still applicable. That being said, judging by the open orders, this system could have easily obtained the results presented in the history in reality. Let’s take a look at the equity chart, which basically tells the whole story:
While the system has had steady overall gains (as indicated by the blue line), the floating P&L has at times decreased drastically (the red line). This is simply due to the fact, this EA does not often close loosing positions.
One of the weaknesses of FXBlue, as a tracking service is that it calculates the grawdown only on the basis of closed positions. This can be a bit misleading, especially when dealing with grid-based systems. Our manual calculations revealed a maximum drawdown around 32%, for both the previous and the current major dips. This is to be expected with systems of this nature,
The average pips per trade factor of this trade factor (or expectancy) of this system is currently 8.7. This is a relatively good score, when compared to strategies like the WallStreet 2.0 EA, which scores under 2 pips/trade. We recommend using 3 pips/trade as a minimum acceptable level, and 5 as a more conservative one.
The Actinic Forex Robot is being sold with lifetime licenses. There are several offers available, based on the number of trading accounts you want to use. Here is a breakdown.
|Name||Price||Real accounts allowed||Demo accounts allowed|
A 30-day money back guarantee is also included, as well as unlimited changes of the account number (i.e. the MT4 account, which can use the system).
The Actinic Forex Robot is a grid-based system. It counters the market trend approximately every 25-30 pips. Its position sizing and exit rules are not disclosed, but not very simple. The system has closed loosing trades in the past, unlike a classic martingale. There are risks involved with this type of strategy, but at least now you are aware of what you will be getting into, if you decide to invest in the Actinic Forex Robot.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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Honest Trading Product | Reviews
Forex Reviews Ι Stocks and CFDs Brokers
When you want to trade Forex, Stocks, Futures, Cryptocurrencies, Bonds or CFDs, there’s always a broker or an exchange where you can open an account to facilitate your trading.
In fact, since trading became popular on the internet, hundreds of brokers have sprang up and they all masquerade as “the best brokers” to trade with on the internet.
Some of the features they use to lure traders include:
Because there are literally hundreds of brokers on the internet offering the same exact thing, one may ask:
How do we choose the best broker and avoid the bad ones?
To answer that question, we’ve selected 3 brokers that we think have at least met industry standards.
These brokers are ranked according to features, level of customer support, regulations, reputation and many other factors.
On the other hand, we leave traders to decide which brokers they want to choose. Usually, one trader’s style is different from another trader’s strategy.
The two traders cannot be satisfied by one broker due to their varying trading styles and needs in general.
The list of the best brokers to trade with
As we’ve said previously, we’ll rank brokers based on their capabilities and most of these parameters are looked at in favor of the client.
So we’ll also look at how they handle customer funds, structure of their business, whether or not they’re regulated and also length of time that they’ve stayed in operation.
On top of that, we usually update this list to reflect any changes or actions that may have been taken against any broker by their respective regulatory authorities.
We’re only listing brokers that are regulated by financial organizations listed below:
Some of the financial regulators above are made up for independently governed agencies while others are operated by the Central bank of the country where the financial regulator is based at.
Our Ratings: 80/100
Withdrawal time: Under 24 hrs
MT4 and MT5: Yes
Minimum Deposit: $100
Support: Very Good
Our Ratings: 75/100
Regulated: FCA 19776 IBC 2020
Withdrawal time: Under 2 hrs
MT4 and MT5: Yes
Minimum Deposit: $50
Support: Very Good
Our Ratings: 75/100
Assets: Forex, Stocks, Options, Crypto
Withdrawal time: Under 2 hrs
Minimum Deposit: $10
Our reviews are honest and truthful. We expose investment wackadoodles on the internet. On the other hand, when a trading product or service is good, we let you know.
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