CryptoRocket Review

CryptoRocket is a new entrant into the world of FX and CFD brokerage, as the company only started operations in 2022. It operates as an offshore entity and as a result, can provide trading conditions which are otherwise unavailable in Europe, the UK and Australia.

I. Background and Company Overview of CryptoRocket

CryptoRocket is one of the few brokers that give their clients the option to trade with cryptocurrencies as their base currency. The preferred base currency is Bitcoin.

Here are some of CryptoRocket’s unique selling points.

• The use of a single account type for all users eliminates any form of bias in delivery of services.
• There are no fees on deposits or withdrawals.
• CryptoRocket says it processes all deposit and withdrawal transactions within 3 hours.

II. Trading Platforms and Tools

Trading on CryptoRocket can only be done using the MT4 and MT5 platforms. CryptoRocket offers Webtrader, the desktop client and mobile app of both platforms.

The tools that are available to traders with CryptoRocket are not as expansive as one would have hoped. The trader is only confined to tools that are operational within the MetaTrader platforms. This is where the trader would need to be innovative, relying on 4-star and 5-star tools that are found on the MetaTrader marketplace.

III. Account Types and Spreads

CryptoRocket is one of the few brokers that do not offer account type segmentation of its clients. Every trader is given one real account type with the same account features and trading conditions. However, traders are allowed to own multiple real and demo accounts.

IV. Contract Specifications

Here are the contract specifications on CryptoRocket

• There are no account opening limits either to the downside or upside.
• Minimum lot size is 0.01 lots.
• Traders are allowed to own as many trading accounts as they want.
• Hedging, scalping and high frequency trading are all allowed.
• Stop-out and margin call rates are set at 30%
• Spreads start from 0.0 pips.
• Maximum leverage is set at 1:500
• Base account currencies are the USD and BTC.

V. Security and Regulation

The CryptoRocket brand is owned by CryptoRocket Limited. The company operates from St.Vincent & Grenadines, which is a jurisdiction that does not require brokers to operate with licenses especially if they offer the crypto funding option.

Security measures adopted by the company for the protection of its client accounts include the following:

• Bitcoin cold storage with a company guarantee that BTC price fluctuations will not affect the value of the holdings.
• Behavioural analysis of trading, deposit and withdrawal patterns. Traders are advised to whitelist their IPs, even though this may not be possible if your ISP uses dynamic IP logins.
• Use of 2-factor authentication (2FA) with Authy being the recommended provider.

The brokerage does not provide clear information as to what countries are restricted from using its platforms.

VI. Customer Support and Education

Here is how you can reach the customer service desk on CryptoRocket:

• Live chat
• Callback request
• Support ticket
• Twitter: CryptoRocket4
• Facebook: CryptoRocketFX

Conclusion

CryptoRocket gives traders the ability to purchase BTC using their credit cards, which simplifies the deposit transaction process. If this is an option you like, then CryptoRocket would be a broker to consider.