Overview of Rockfort Markets
Rockfort Markets is a brokerage firm based in New Zealand, offering trading services in Forex, Commodities, Indices, and Cryptocurrencies. The company was founded in 2018 and operates with its headquarters in New Zealand. However, it is important to note that Rockfort Markets' regulation is suspected to be cloned, which raises concerns about the level of oversight and investor protection provided by the broker.
Rockfort Markets provides multiple account types to cater to different trading needs, including Standard, Pro, Demo, and Islamic Account options. The minimum deposit requirement to open an account is $200, and the maximum leverage offered is 1:500. The broker operates on a spread-based pricing model, with spreads starting from 0.6 pips and commission-free trading.
Traders have access to popular trading platforms like MT4 (MetaTrader 4) and Trader Workstation (TWS), enabling them to execute trades, access market data, and utilize advanced charting tools. The broker offers customer support through various channels, including phone, email, live chat, and social media. However, due to the suspicion surrounding the broker's claimed regulation, traders should exercise caution and carefully consider the potential risks before engaging in trading activities with Rockfort Markets.
Is Rockfort Markets Legit？
Rockfort Markets is not regulated by any recognized regulatory authority. The broker does not hold a valid regulation license, which raises concerns about the level of oversight and investor protection available to clients. Trading with an unregulated broker carries inherent risks, as there is no regulatory body ensuring compliance with industry standards and safeguarding client funds. It is important for traders to exercise caution and carefully consider the potential risks before engaging in any trading activities with Rockfort Markets.
Furthermore, the broker claims to have a regulation from the New Zealand Financial Markets Authority (FMA) with license number 509766. However, this regulation is suspected to be a clone or invalid. Traders should be aware of the potential risks associated with trading with a broker that claims to have a suspicious or invalid regulation. It is advisable to choose a broker that is properly regulated by a recognized authority to ensure a higher level of security and protection for your funds.
Pros and Cons
Rockfort Markets presents several concerns due to its lack of valid regulation and the suspicion surrounding its claimed regulation. As a result, there are no pros to mention. The absence of regulation raises concerns about the level of oversight and investor protection provided by the broker. Trading with an unregulated broker carries inherent risks, as there is no regulatory body ensuring compliance with industry standards and safeguarding client funds. Traders should exercise caution and carefully consider the potential risks before engaging in any trading activities with Rockfort Markets.
Trading Instruments
Rockfort Markets offers a wide range of trading instruments to its clients, including CFDs on Forex, Commodities, Indices, and Cryptocurrencies. With over fifty Forex CFDs available, traders can access major currency pairs like EURUSD, USDJPY, GBPUSD, USCHF, USDCAD, and AUDUSD. The platform also provides opportunities to trade cross-currency pairs such as EURGBP, AUDNZD, EURNZD, and others. Exotic currency pairs like USDZAR, USDHKD, and USDSGD are also available for trading.
In addition to Forex, Rockfort Markets offers CFDs on indices, allowing clients to trade popular indices such as Australia ASX200, FTSE100, Euro Stoxx 50, S&P500, and Dow Jones Industrials. Traders can also access a variety of commodities and cryptocurrencies on the platform.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
Rockfort Markets provides traders with a range of account types to suit their trading needs.
The Standard Account is the most popular option, requiring a minimum deposit of $200. This account offers low spreads and commission-free trading, making it suitable for experienced traders.
For traders who trade larger amounts, the Pro Account is available with a minimum deposit of $2,000. This account provides ECN market spreads and a personal account manager. There is a $6 lot charge per trade, and spreads start at 0.0 pips.
Rockfort Markets also offers a Demo Account, which allows new traders to test the broker's platforms and trading conditions for a period of 30 days. This account is a useful tool for beginners to practice trading strategies without risking real money.
In addition, Rockfort Markets provides an Islamic Account option for both the Standard and Pro Accounts. The Islamic Account follows Islamic principles and does not charge swap rates. All other conditions remain the same as the respective Standard and Pro Accounts.
How to Open an Account？
To open an account with Rockfort Markets, follow these steps:
1. Visit the Rockfort Markets website and click on “Open an Account” located in the top right-hand corner of the website.
2. Fill out the online application form. This process usually takes just a few minutes. Provide the required information accurately and ensure all fields are completed.
3. After submitting your application, you will receive a confirmation email from the customer service team. This email will contain instructions on how to make a deposit and start trading online.
4. If you have any questions regarding the account opening process or the documents required for verification, you can reach out to the broker's customer service. They will be able to provide further assistance and clarification.
Leverage
Rockfort Markets offers leverage options for various instruments on their Standard account. The leverage provided ranges from 1:2 to 1:500, depending on the instrument being traded. Leverage of 1:500 is available for Forex, gold, silver, and CFD trading. For oil and metals, the leverage is 1:10, while for stocks, it is 1:30. Cryptocurrency trading has a leverage of 1:2.
Leverage allows traders to control larger positions with a smaller amount of capital, potentially amplifying profits or losses. However, it's important to note that higher leverage also means higher risk, as losses can be magnified. Traders should exercise caution, understand leverage thoroughly, and implement effective risk management strategies when utilizing leverage in their trading activities.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions (Trading Fees)
Rockfort Markets operates on a spread-based pricing model, meaning that they generate revenue from the difference between the buy and sell prices of the financial instruments. The spreads offered by Rockfort Markets vary depending on the currency pairs being traded.
For major currency pairs, such as EUR/USD and GBP/USD, the standard spreads range from 0.9 to 1.4 pips. Minor currency pairs, like AUD/NZD and CAD/JPY, have wider spreads, typically ranging from 1.2 to 5.0 pips. The pro account offers even tighter spreads, with an average of 0.6 pips for major currency pairs and 1.0 pips for minor currency pairs.
It's important to note that spreads can fluctuate based on market conditions, liquidity, and other factors. Traders should consider the spreads offered by Rockfort Markets when evaluating the cost of trading and potential profitability.
Regarding commissions, Rockfort Markets operates on a commission-free model, meaning that they do not charge a separate fee for executing trades. Instead, their revenue is primarily derived from the spreads. This can be advantageous for traders who prefer to avoid additional transaction costs associated with commissions.
Non-Trading Fees
Rockfort Markets may charge non-trading fees that traders should be aware of. One such fee is the rollover interest, also known as swap fees, which applies when a position is held overnight. The rollover rate is determined based on the length of the rollover term and the spread. To view the rollover rate for a specific instrument, traders can access the Market Watch section on the trading platform and select the symbol specification option.
In addition to rollover fees, Rockfort Markets imposes an inactivity fee of $20.00 NZD per month. This fee is applicable if there is no trading activity in the account for a certain period of time. It's important for traders to take note of this fee and consider their trading activity to avoid incurring unnecessary charges.
Deposit & Withdraw Methods
Rockfort Markets offers various deposit and withdrawal methods to cater to the needs of its customers. The available options include:
- Bank Wire Transfer (New Zealand and International Swift): Customers can fund their accounts through bank wire transfers, both within New Zealand and internationally. This method allows for secure and direct transfers of funds.
- Credit/Debit Cards: Rockfort Markets accepts major credit and debit cards such as Visa and MasterCard. This provides a convenient and widely accepted payment method for customers.
- POLi: POLi is an online payment system that allows for instant transfers directly from the customer's bank account. It provides a seamless and secure payment option.
- BitWallet: BitWallet is a cryptocurrency wallet that enables customers to deposit funds using cryptocurrencies. This offers flexibility and convenience for those who prefer to use digital currencies.
To initiate a withdrawal, customers need to fill out an online form, and once the withdrawal request is verified by the staff, the funds will be returned to the customer's account. Withdrawal times may vary depending on the payment source and method chosen.
It's important to note that fees may be associated with certain payment methods. The deposit page provides information about the fees connected with each payment method. For example, deposits made through Visa and MasterCard may incur a fee of 3% of the deposit amount. Withdrawals from a New Zealand bank are typically free of charge, while a $15 fee may apply for withdrawals from an account in another country or currency.
Customers should review the specific fees and conditions associated with each payment method to make informed decisions regarding deposits and withdrawals with Rockfort Markets.
Trading Platforms
Rockfort Markets offers two main trading platforms for their customers: MT4 (MetaTrader 4) and Trader Workstation (TWS).
MT4 is a widely recognized and popular trading platform for Forex and CFD trading. It provides a user-friendly interface with advanced charting tools, built-in indicators, and support for algorithmic trading. Traders can choose from various chart types and timeframes, access real-time market data, and place orders directly from the platform. MT4 is available for Windows, Android, and iOS devices, allowing traders to access their accounts and trade on the go.
The Trader Workstation (TWS) platform is designed for traders who want to access multiple markets. With TWS, traders can trade shares on more than 30 global exchanges and access real-time news and analysis. It offers a comprehensive range of CFDs on equities, metals, ETFs, and commodities, along with reliable transaction execution and detailed trade reporting. TWS is known for its vast selection of tradable instruments and online trading tools. It can be accessed through the TWS Web platform without the need for additional software installation.
For mobile trading, Rockfort Markets provides mobile apps for both MT4 and TWS platforms. The MT4 Mobile app allows traders to access their accounts, view watchlists, perform technical analysis, and execute trades using their smartphones. The TWS mobile app offers similar features, providing access to multiple markets, watchlists, and trading tools. Both mobile apps are available for free download from app stores and require an internet connection to operate.
Customer Support
Rockfort Markets provides customer support services to assist traders with their general, technical, and account-related inquiries. Traders can reach out to the experienced customer care team through various channels, including phone, email, and online live chat. These communication methods ensure that traders have multiple options to seek assistance and receive prompt responses to their queries.
In addition to traditional communication channels, Rockfort Markets is active on popular social media platforms such as Facebook, Twitter, YouTube, and LinkedIn. This allows traders to connect with the broker and stay updated on the latest news, updates, and educational content. By leveraging social media platforms, Rockfort Markets enhances its accessibility and provides traders with additional avenues to interact with the customer support department.
Educational Resources and Community Support
Rockfort Markets offers a range of educational resources to support traders in their trading journey. These resources cater to traders of all levels, from beginners to experienced individuals. The broker recognizes the importance of providing valuable information and tools to enhance traders' knowledge and skills.
Traders can access educational materials such as training and trading hints for the MT4 terminal. These resources aim to help traders understand the platform's features and functionalities, enabling them to navigate the trading environment effectively. Additionally, Rockfort Markets provides articles covering various aspects of the financial markets, offering insights into market trends, analysis techniques, and trading strategies.
One notable educational partnership that Rockfort Markets has established is with Trading Central. Trading Central is a renowned provider of technical analysis and trading signals. By partnering with Trading Central, Rockfort Markets offers traders access to expert analysis and trading signals. However, it is important to note that access to Trading Central may require an active trading account and authentication.
Trading Tools
Rockfort Markets offers a range of trading tools to support traders in their research and analysis activities. These tools are designed to assist traders in making informed trading decisions and staying updated on the latest market developments.
One notable tool provided by Rockfort Markets is the Market Analysis commentary and videos. These resources enable traders to stay informed about the current happenings in the financial markets. By accessing market analysis content, traders can gain insights into market trends, economic news, and potential trading opportunities.
Rockfort Markets also offers the Trader Assistant service, which allows traders to monitor their trading accounts and the financial markets. Through this service, customers receive market data, indications, and trading advice via messaging apps of their choice. This feature ensures that traders have access to relevant information and analysis to support their trading activities.
Additionally, Rockfort Markets has partnered with Trading Central, a globally recognized leader in financial market research and investment analytics. This partnership provides traders with timely and accurate investment advice. Trading Central's expert analysts and patented pattern recognition technology cover global markets, offering valuable insights for traders. This collaboration simplifies the process of finding investment opportunities, timing trades, expanding market knowledge, and managing risk.
Conclusion
In conclusion, Rockfort Markets is a brokerage firm based in New Zealand that offers trading services in Forex, Commodities, Indices, and Cryptocurrencies. While the broker provides various account types, access to popular trading platforms, and multiple customer support channels, it is important to note that Rockfort Markets' regulation is suspected to be cloned, which raises concerns about the level of oversight and investor protection. Traders should approach the broker with caution due to the lack of valid regulation and carefully consider the potential risks associated with trading with an unregulated entity.
FAQs
Q: Is Rockfort Markets a regulated broker？
A: Rockfort Markets' regulation is suspected to be cloned, and it lacks a valid regulation license. Traders should exercise caution when dealing with an unregulated broker.
Q: What trading instruments are available at Rockfort Markets？
A: Rockfort Markets offers trading in Forex, Commodities, Indices, and Cryptocurrencies, providing clients with a diverse range of instruments to trade.
Q: What are the account types offered by Rockfort Markets？
A: Rockfort Markets provides multiple account types, including Standard, Pro, Demo, and Islamic Accounts, catering to different trading needs and preferences.
Q: What are the minimum deposit requirements at Rockfort Markets？
A: The minimum deposit requirement at Rockfort Markets varies depending on the account type. For example, the Standard Account requires a minimum deposit of $200, while the Pro Account has a higher minimum deposit of $2,000.
Q: What trading platforms does Rockfort Markets support？
A: Rockfort Markets supports popular trading platforms such as MT4 (MetaTrader 4) and Trader Workstation (TWS), offering traders a choice of reliable and feature-rich platforms for their trading activities.
2023-10-10 18:10
2023-10-10 16:23
