ROSTONES foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://www.rostonefx.com/userregister, about the company's legal and temporary regulatory information, the company's address 6 Clayton Street, New Market, Auckland, 9012, New Zealand.
ROSTONES Forex Broker
Basic Information
New Zealand
5-10 years Suspicious Regulatory License Suspicious Scope of Business New Zealand Financial Service Corporate Revoked Suspicious Overrun High potential riskCompany profile
Rating Index
Rostones Forex Broker - Complete Information Guide
1. Broker Overview
Rostones is a forex broker established in 2017, headquartered in New Zealand. The company operates as a private entity and primarily serves retail traders and investors in the foreign exchange market. Since its inception, Rostones has aimed to provide a reliable trading environment for its clients, focusing on user-friendly technology and competitive trading conditions.
The broker has made significant strides in its development, introducing the MetaTrader 4 (MT4) trading platform as its primary trading software. Over the years, Rostones has expanded its services and features, including the introduction of various account types and trading instruments. The broker's commitment to customer service is evident through its multilingual support and educational resources aimed at enhancing trading knowledge among its clients.
Rostones operates under the legal entity Rostones Group Limited, which is registered with the Financial Service Providers Register (FSPR) in New Zealand. The company primarily engages in retail forex trading and is focused on providing an accessible platform for traders of all skill levels.
2. Regulatory and Compliance Information
Rostones is regulated by the Financial Service Providers Register (FSPR) in New Zealand, holding the license number 527786. However, it is important to note that the regulatory status of Rostones has faced scrutiny, as the broker's license was reportedly revoked. This situation calls for potential clients to exercise caution when considering Rostones as their trading partner.
The broker's compliance measures include the segregation of client funds, ensuring that traders' deposits are held in separate accounts to protect their investments. Rostones adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which require clients to verify their identities and provide relevant documentation during the account opening process.
Despite its regulatory framework, traders should remain vigilant and conduct thorough research before engaging with Rostones, considering the broker's past regulatory challenges and the importance of investing with a well-regulated entity.
3. Trading Products and Services
Rostones offers a diverse range of trading products, primarily focusing on the forex market. The broker provides access to over 60 currency pairs, including major, minor, and exotic pairs, catering to various trading strategies and preferences.
In addition to forex trading, Rostones also offers Contract for Differences (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies. This wide array of products allows traders to diversify their portfolios and explore different market opportunities.
The broker frequently updates its product offerings, introducing new instruments based on market demand and client interest. Rostones primarily targets retail traders but also extends its services to institutional clients, offering tailored solutions for their trading needs.
Rostones does not provide proprietary trading solutions, but it allows clients to utilize third-party platforms like MT4 for their trading activities. This flexibility enables traders to customize their trading experience according to their preferences.
4. Trading Platforms and Technology
Rostones exclusively utilizes the MetaTrader 4 (MT4) platform for its trading operations. The MT4 platform is renowned for its user-friendly interface and extensive customization options, making it suitable for traders of all levels. The broker supports the MT4 platform on desktop computers, allowing users to trade from their PCs effectively.
Although Rostones does not offer a proprietary trading platform, the MT4 platform provides essential features such as advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors. However, it is worth noting that the broker currently lacks mobile applications for iOS and Android, limiting trading on the go.
Rostones operates its trading servers in the United States, providing a reliable trading infrastructure. The broker employs a Market Making execution model, which may lead to potential conflicts of interest, as the broker acts as the counterparty to clients' trades.
While Rostones does not offer API access for automated trading, the MT4 platform supports various plugins and third-party tools that can enhance the trading experience.
5. Account Types and Trading Conditions
Rostones offers a variety of account types to cater to different trading needs. The primary account types include:
- Standard Account: This account type requires a minimum deposit of $200, with spreads starting from 1 pip and no commissions charged on trades.
- Advanced Accounts: Rostones may offer higher-tier accounts with additional features, although specific details on these accounts are not readily available.
- Islamic Accounts: For clients who require Sharia-compliant accounts, Rostones provides options that adhere to Islamic finance principles.
The broker offers a demo account for traders to practice their strategies without risking real money. The leverage offered by Rostones varies depending on the asset class, with maximum leverage ratios reaching up to 1:500 for forex trading.
Traders should be aware of overnight fees, as Rostones applies charges for positions held overnight, which can impact overall trading costs.
6. Fund Management
Rostones supports several deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies by account type, with the standard account requiring a minimum of $200.
Deposit processing times are generally swift, with most transactions being completed within a few hours. However, traders should be aware of potential deposit fees, which may apply depending on the chosen payment method.
Withdrawals can be made using similar methods, and Rostones typically processes withdrawal requests within 3-5 business days. However, traders have reported issues with withdrawal delays, which can lead to frustration. The brokers withdrawal fees can vary, and it is advisable for clients to review the fee structure before initiating withdrawals.
7. Customer Support and Educational Resources
Rostones offers customer support through various channels, including phone, email, and online chat. The broker provides support in multiple languages, including Chinese (Simplified), catering to a diverse client base.
Customer service is available during business hours, but traders have reported longer waiting times for responses, which can be a concern for those needing immediate assistance. Rostones also offers educational resources such as webinars, tutorials, and market analysis to help clients improve their trading skills and knowledge.
Traders can access daily market analysis, news updates, and research reports to stay informed about market trends and developments. Additionally, Rostones provides trading tools, including calculators and economic calendars, to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
Rostones primarily serves clients from New Zealand and other regions, but it may have specific restrictions based on local regulations. The broker has regional offices to support its international client base, although details on these locations are limited.
Certain countries may be restricted from opening accounts with Rostones, particularly those with strict financial regulations or those on sanction lists. It is essential for potential clients to verify their eligibility before attempting to register with the broker.
In summary, while Rostones offers a range of trading products and services, potential clients should carefully consider the regulatory landscape and the broker's past compliance issues before engaging in trading activities. Ensuring a thorough understanding of the broker's offerings and limitations can help traders make informed decisions.
ROSTONES Similar Brokers
Latest Reviews
FX8479662486
Hong Kong
ROSTONES defrauds the client, and harbors serious slippage. Some have induced me to open an account, causing me to lose more than 400,000. My relatives told me that I could make complain because that is a fraud platform. After I complained, someone called me, threatening me to withdraw my complaint, or he would give me trouble. He also abused me. What kind of platform it is? There is also a threat, and they are not afraid of the police. I have no one to back me. Who dare to open accounts. I would like to warn you with my experience. Don’t open an account on the scam platform, choosing regular platforms.
Exposure
2018-05-19
FX8479662486
Hong Kong
The beginning of ROSTONES nightmare. That is a scam platform. I am a rural woman. During my pregnancy, the business staff induced me to open an account. I lost all my family deposits. My husband wanted to divorce me. I have a child of less than two months. The scam platform’s slippage is serious. I don't know where to make complaints. Now the family all criticized me. I am so afraid. Stay away from the scam platform. My family is going to break. I have to complain against them. They first threaten me and now freeze my account. Everyone should be careful of this kind of scam platform, don’t be cheated.
Exposure
2018-05-20