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Rofx.net

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Alfa1234
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Rofx.net

Tue Aug 21, 2018 9:09 am

https://my.rofx.net/

A company that uses their "complex forex algo" to invest your money and takes a (fairly large) commission off of the profits.  Their "reserve fund" covers losing days.  Anyone knows them or has any experience using them?  There aren't many reliable reviews online about them but it seems interesting.

Note, I had a long chat with them and they claim to have been trading since 2009 but only started the website (and went open for business to the public) in 2016 which explains why the domain name was only registered in 2016.

I put 1k in there a few weeks ago and have been able to withdraw the profits so far...it could be very interesting for lager amounts but I'm scared to leave a larger amount with them.
cortomaltese
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Re: Rofx.net

Tue Aug 21, 2018 11:07 am

Did you withdrew your initial investment along with profits or just profits ?
By default i am at least sceptic in investing in this kind of business
If they are so sure about their algo then why don't just use it themselves and keep all the profits ?
cortomaltese
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Re: Rofx.net

Tue Aug 21, 2018 11:13 am

Also i didn't  liked  their unwillingness to reveal their license and regulator , in their faq they state "  To avoid any fraud from unfair competitors, and for other security reasons, we do not provide the company documents or their copies to anyone. In exceptional circumstances, registered and validated customers may send request "

That's suspicious to say the least
Alfa1234
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Re: Rofx.net

Tue Aug 21, 2018 11:45 am

Just profits so far, my initial "trial" is still going.  I'll definitely withdraw everything once it's finished just to see if they honour it.
vinciguerra
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Re: Rofx.net

Tue Aug 21, 2018 12:31 pm

come on alfa, you know better than a scheme like this

from their faq: expected profit per day.  on a 1000$ invesment, expected profit of 1.52$.  that's a 0,152% return daily. what's that annualized?  about a 70% return annually?    WITH a no-loss guarantee, so no risk?  come on,  if these guys have been at it since 2009 making these kinds of returns year after year after year, why would they need your money?

(not sure what your trial is trying to prove btw, i'm sure they'll pay you)
Alfa1234
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Re: Rofx.net

Tue Aug 21, 2018 2:16 pm

True, yet I've found 0 complains so far...and by your reasoning all peer to peer lending companies with a buy back guarantee would be better off simply lending the capital themselves as well, same goes for basically any investment company with a decent rep.  ;)

If it's a scam, it's a sohpisticated one because all of their daily "trades" are in their trade reports. 
vinciguerra
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Re: Rofx.net

Tue Aug 21, 2018 2:40 pm

if the complaints start coming, it's too late already.

i thought i was familiar with the basics of peer-to-peer lending, but if you claim there are peer-to-peer lending opportunities out there with a 70% annual interest and a buy back guarantee, do let me know.

i don't have access to their trading reports, so I can't comment on that. in general though, aftertiming trades is very easy, not just in sportsbetting but also in trading.
Alfa1234
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Re: Rofx.net

Tue Aug 21, 2018 3:00 pm

I'm not saying you're not right about this one and it could very well be a scam (which is why I'm posting here), but I also never said there are any peer to peer lending companies with 70% annual interest.  I'm merely saying you should not dismiss an investment with the argument "why would they make you money with your money if they can just use their own money to do it".  That  reasoning does not add up.
vinciguerra
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Re: Rofx.net

Tue Aug 21, 2018 3:15 pm

i do not wish to be pedantic, but could you make your example a bit more concrete?

generally, peer to peer lending is based on people needing money, not having access to credit from the traditional venues, therefore using peer-to-peer makes sense, with 10%-like interest rates.

i just don't see how this somehow invalidates the own money-argument. peer to peer lenders don't have money, and need money.

rofx has been at it 9 years, with employees from a dozen countries, a full team of specialists they say, and instead of raking in the big bucks (any bank would be interested in working with a 70% long term generating algo), they take in ICO-money from retail and don't want to disclose their license. yeah right.

i'm starting to repeat myself, i know, but by opening threads like this you're steering people towards them that might not have the level of sophistication to understand the unlikelihood of the claims that are being made (and the experience to have seen operations like this come and disappear a 1000x before). anything with a near guaraneed yield on your passive investment of over 10% is suspect (let alone 70%), anything with a no loss guaranteed claim screams run away.
Last edited by vinciguerra on Tue Aug 21, 2018 3:17 pm, edited 1 time in total.
vinciguerra
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Re: Rofx.net

Tue Aug 21, 2018 3:33 pm

and besides,  if they generate such returns and are so sure of their own strategy they offer you a no loss-guarantee, why dont they use any leverage at all?  leverage is an easy low-risk way in fx to increase exposure.  so instead of using, say, 20x leverage and earn much much more on their own capital, they'd rather pay you 70% for your money.  makes sense  :o
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Re: Rofx.net

Tue Aug 21, 2018 3:33 pm

a
Alfa1234
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Re: Rofx.net

Tue Aug 21, 2018 3:45 pm

Yes, makes sense re the leverage.  :)

Re the peer to peer lending: there are plenty of companies out there being an "intermediate".  Meaning they organise the loans and investors can select the loans they want from their inventory.  Most of these companies now also offer a buy back guarantee in case the loan goes into default.  I'm talking about those companies.  They could easily "put up their own capital" and not use investors.

Investors put up the capital to "invest" in loans.  Those loans have however already been given to the individuals seeking the loans.  With the buy back guarantee, there is no reason for the intermediate company to seek investment other than wanting to give profit away...yet those companies have been around for a long time and are completely regulated with a very large capital in place (Mintos, Bondora, Viainvest...).
cortomaltese
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Re: Rofx.net

Tue Aug 21, 2018 8:21 pm

One remark to the latest post
Companies like Mintos, Bondora etc at least they reveal their licenses , offices and teams
Why a legitimate trading company wouldn't do the same ?
christianj
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Re: Rofx.net

Wed Aug 22, 2018 10:31 am

@Alfa,

These days alot of scam company go to extra length to remove complains of people, this might look interesting but i think it is not legit. For heaven sake what is warren buffet doing, he should have all his money there.

About checking for online complain, you might not find any till you post it yourself. I was scammed 14600 euros last 3 months from 2 companies and never, was there complaines anywhere about them till i spent more money on professional research.

Beware, just so you trade wisely
Alfa1234
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Re: Rofx.net

Wed Aug 22, 2018 11:42 am

They gave me their FCA number yesterday.  I sent a few mails to determine if it's part of the scam or if they are in fact regulated...will update.

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