CryptoRocket Review 2020 | TRADE MARKET NEWS

BROKER REVIEW

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GENERAL INFORMATION

Broker Name:

Crypto Rocket

Broker Type:

STP

Country

Saint Vincent and the Grenadines

Operating since year:

2018

Regulation:

Unregulated

Address:

First Floor, First St Vincent Bank Building, James Street, Kingstown, Saint Vincent And Grenadines

Broker status:

Broker

CUSTOMER SERVICE

Phone:

N/A

Email:

[email protected]

Languages:

English

Availability:

24/7

TRADING

Trading platforms:

MT4, WebTrader

Trading platform Time zone:

GMT-5:00

Demo account:

YES

Mobile trading:

YES

Web-based trading:

YES

Bonuses:

Other trading instruments:

Forex, Cryptocurrency, Commodities, Energies, Metals, Stocks, CFDs

ACCOUNT

Minimum deposit ($):

Maximal leverage:

1:500

Spread:

variable

Scalping allowed:

YES

GENERAL INFORMATION

CryptoRocket is a fresh broker that started operating in 2018. They’ve been providing brokerage services since, focusing on crypto.

The broker is based in St. Vincent & the Grenadines. The firm’s address is First Floor, First St Vincent Bank Building, James Street, Kingstown.

Most of the reviews online are positive, although they do read slightly like paid comments. The few negative ones don’t seem like huge transgressions, as they mostly talk about unfortunately timed phone calls. All in all, if the user experience is anything to go by, CryptoRocket seems like a decent firm. It’s worth noting, however, that they’ve only been on the market for two years, which isn’t enough for a stable reputation.

So although reputation isn’t the best metric to judge CryptoRocket on, we check out some other details and see how good the service is. Let’s start by reviewing their strongest selling points:

• 24/7 SUPPORT

Customer service teams in the online brokerage business normally work 24/5 or less. That results in customers sometimes needing to wait over the weekend to get an issue resolved, or a question answered. That waiting can be a source of significant frustration, so it’s nice that CryptoRocket circumvents the issue.

• ASSET LIST

Under the trading tab on the CryptoRocket website, you can see that there’s a link that’ll take you to a list of all available trading instruments. It’s great that there’s a resource like that available even before you sign up, as most companies hide that information until you register.

• SAME DAY WITHDRAWALS

The withdrawals for any method you want to use take under a day. Although not all of them are instant, the speeds at CryptoRocket still do beat out most other brokers.

FUNDS TRADING AND SECURITY

Fund security has, with many brokers coming out as scams, become a huge issue in recent times. The problem has become so significant that many traders will avoid untrustworthy brokers altogether. But which category does CryptoRocket fall under?

As we already mentioned, they haven’t had any major complaints, at least not ones related to refusing withdrawals, draining accounts, and other usual malicious practices. There are a few negative reviews, but nothing that indicates a scam. Most users seem to be quite happy with how the broker has been functioning in the short timeframe it’s been around.

However, it’s also true that CryptoRocket isn’t operating under a license. So although they haven’t had any mishaps yet, there’s technically nothing stopping them from taking your money. Not having a license could be chalked up to their status as a fresh broker, but two years isn’t that short.

Overall, the security is perhaps slightly above mediocre. The reputation they enjoy so far seems alright, and there aren’t any users complaining about foul play. The lack of regulation, however, seriously hurts the firm’s credibility. We’d advise you to be cautious if you decide to invest, at least until the company gets licensed.

TRADING ACCOUNTS

Before you sign up for a real account at CryptoRocket, you’ll be able to test out the service with a demo account. It has full functionality, so you can use it to learn whatever you’re curious about.

After you’re done with the demo, you can go for a live account, and sadly for some, there’s only one type. One account type means both good and bad news. The bad is that there’s no way to customize your experience by investing more and that there are no prestigious features for loyal traders or hight investors. The good is that no matter how much you invest, you’ll be getting the best experience possible.

Realistically, budget traders shouldn’t be bothered by the lack of account typing, as it ends up benefiting them. High spenders, however, might dislike the fact that their investment doesn’t get any rewards. Whichever side you fall on, you probably want to know some of the account specifications, so here they are:

• CRYPTOROCKET ACCOUNT

Minimum deposit: $1
Spread: Tight, variable
Maximum leverage: 1:500
Trade size increment: 0.01 lot

The set of trading conditions at CryptoRocket has some highs and a few lows. Perhaps the strongest benefits are good leverage at 1:500, a strong collection of crypto pairs, and quick withdrawals.

However, the positives are closely followed by a series of negatives. There seem to be fees when withdrawing, making maintaining a profit over a longer period of time more difficult. To add to that, the lacking regulation and account variety might seriously, and rightfully so, deter some traders.

All things considered, the trading conditions are alright if you fall under the category of budget crypto traders. If you don’t, however, they hover in the underwhelming to average range.

TRADING PLATFORM

CryptoRocket hasn’t gone wrong in picking the trading platform, as they went with the industry-standard MetaTrader4. The tool is the most widely used platform worldwide, and for good reason, as it has benefits for all levels of trading. Beginners can use it as a nice introductory tool, as the interface is intuitive and user friendly. For more advanced users, there’s a plethora of analytical tools that can help you stay on top.

There’s also a web trader, which seems to be a proprietary platform. It looks quite dated, but is functional and allows you to trade without the need to download anything. Additionally, the mobile client allows you to trade even if you’re not near a desktop or laptop, requiring only a stable connection. You can download the CryptoRocket trading app from the Google Play or Apple App stores, depending on which device you’re using.

CRYPTOROCKET'S TRADING PRODUCTS

There’s a decent variety of trading instruments at CryptoRocket, with a clear focus on crypto pairs. Overall, they have a decent selection of assets you can trade on, and here’s a short list of some of them:

• Over fifty currency pairs – The number of forex pairs you can choose from at CryptoRocket is slightly above average. You’ll find some of the most popular trading options, such as EUR/USD, GBP/USD, and USD/CAD.

• Commodities – Although they don’t mention them on their home page, there’s a good selection of commodities consisting of metals and energies. Those include natural gas, oil, gold, and silver, with a few others.

• Shares – There’s a good selection of stocks, with over 60 company shares to buy and sell. The list includes household names like FedEx, McDonald’s, Coca-Cola, but also some lesser-known firms such as Telefonica, Allianz, and Danone.

• Digital currency pairs – Cryptocurrency pairs are the most significant outlier when it comes to the firm’s selection. There’s over thirty to choose from, which is way what a lot of competitors offer. The selection includes BTC/USD, ETH/USD, ETH/BTC, and many others.

CUSTOMER SERVICE

The customer service at CryptoRocket has the significant benefit of working week-long around the clock. As for the actual methods to reach them, you can use an email or their live chat. You can also request them to make a call, but you can’t actually call their phone lines, which is unfortunate since that’s the quickest way to solve your problems.

Email: [email protected]

CONCLUSION

CryptoRocket is a broker that’s a bit all over the place. They do some things well and others poorly and seem to swing back and forth without much consistency. The lack of regulation is a big red flag, even though they seem like they’ve been fair up until now, as they could go rogue at any moment.

But given the benefit of the doubt, which they might deserve, there just isn’t enough to their service to warrant recommending it over other, better companies. They are by no means a bad firm, simply one that does very little to stand out. Their target audience seems to be budget traders who buy and sell crypto, and using CryptoRocket if you fall into that group might have some merit. If you’re outside that group, however, we believe there are many better alternatives out there.