CryptoRocket Forex Broker provides real users with 1 positive reviews, 1 neutral reviews and * exposure review!
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The worst trading platform I have ever used. CryptoRockets' trading platform sucks, losing connection frequently, which made me suffer heavy losses. Their customer support also sucks.
Very nice trading platforms (mt4 & mt5) supported by an amazing broker. Although it is still far from being a perfect broker, the overall experience with them is great.
CryptoRocket, a brokerage established in 2018, has garnered attention in the trading community for its focus on cryptocurrency trading. However, its unregulated status and mixed user feedback raise concerns about its reliability and overall service quality. Key features include a low minimum deposit requirement and a diverse range of trading instruments, but potential users should be cautious due to the lack of regulatory oversight.
Note: It is important to recognize that CryptoRocket operates in various regions, and its offshore registration in St. Vincent and the Grenadines may impact its trustworthiness. This review aims to provide a balanced perspective based on multiple sources, ensuring fairness and accuracy in the analysis.
| Category | Score (Out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 4.0 |
| Customer Service and Support | 5.0 |
| Trading Experience | 6.0 |
| Trustworthiness | 2.5 |
| User Experience | 5.5 |
We evaluate brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data.
Founded in 2018, CryptoRocket is an online broker headquartered in St. Vincent and the Grenadines. It primarily operates as a non-advisory brokerage, focusing on cryptocurrency trading while offering a variety of other assets, including forex, stocks, and commodities. The platform supports the widely used MetaTrader 4 (MT4), which is known for its advanced charting capabilities and user-friendly interface. Despite its broad asset offering, the broker lacks regulation from any major financial authority, which raises red flags regarding investor protection.
CryptoRocket is registered in St. Vincent and the Grenadines, a jurisdiction known for its lenient regulatory environment. This lack of stringent oversight means that traders may not have access to the same protections offered by regulated brokers in jurisdictions like the UK or EU. Consequently, users should exercise caution when trading with CryptoRocket, as the absence of regulation could expose them to higher risks.
CryptoRocket accepts deposits and withdrawals in various currencies, including USD and cryptocurrencies like Bitcoin. The broker does not impose any deposit or withdrawal fees, which is a positive aspect for traders looking to maximize their net earnings. However, users should be aware of potential third-party fees associated with cryptocurrency transactions.
The minimum deposit to open an account with CryptoRocket is set at a low threshold of $10, making it accessible for novice traders. This feature allows new traders to experiment with the trading platform without committing significant capital upfront.
Currently, CryptoRocket does not offer any promotional bonuses or incentives for new traders. This lack of bonuses may be a drawback compared to other brokers that provide attractive welcome packages to entice new clients.
CryptoRocket offers a diverse range of trading instruments, including over 55 currency pairs, 35 cryptocurrencies, 64 stocks, and various commodities and indices. While its cryptocurrency offerings are particularly extensive, the overall asset diversity may not match that of more established brokers.
The broker's spreads start from 0.01 pips, which is competitive. However, it charges a commission of $6 per standard lot, which can significantly affect profitability, especially for high-frequency traders. Users should consider these costs when assessing their trading strategies.
CryptoRocket offers high leverage of up to 1:500, which can amplify both profits and losses. While this may appeal to experienced traders, it also poses significant risks, particularly for those who may not fully understand the implications of trading with high leverage.
Currently, CryptoRocket supports the MT4 trading platform, which is widely regarded for its functionality and reliability. However, it does not yet offer MetaTrader 5 (MT5), which may limit some traders who prefer the advanced features available on the newer platform.
CryptoRocket does not accept clients from several countries, including the United States, Canada, and various others. Potential users should verify their eligibility before attempting to register an account.
Customer support at CryptoRocket is available in English and Spanish, providing assistance through live chat and email. While the support team is reportedly responsive, there are mixed reviews regarding the quality of service, with some users expressing dissatisfaction with response times.
| Category | Score (Out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 4.0 |
| Customer Service and Support | 5.0 |
| Trading Experience | 6.0 |
| Trustworthiness | 2.5 |
| User Experience | 5.5 |
Account Conditions (6.5/10): CryptoRocket offers a low minimum deposit and a single account type, which could be appealing to new traders. However, the lack of multiple account options and Islamic accounts limits its appeal.
Tools and Resources (4.0/10): The broker provides basic resources, primarily through the MT4 platform. However, it lacks comprehensive educational materials or additional trading tools, which could hinder less experienced traders.
Customer Service and Support (5.0/10): While customer support is available 24/7, user reviews indicate that response times can be inconsistent, and some users have reported difficulties in resolving issues.
Trading Experience (6.0/10): The trading experience is generally smooth, with competitive spreads. However, the commission structure may deter high-frequency traders.
Trustworthiness (2.5/10): CryptoRocket's lack of regulation is a significant concern, as it poses risks to user funds. The mixed reviews and reports of withdrawal issues further exacerbate this distrust.
User Experience (5.5/10): The overall user experience is average, with a functional platform but limited educational support. Users have reported both positive and negative experiences, indicating variability in service quality.
In conclusion, while CryptoRocket offers some attractive features, such as a low minimum deposit and a wide range of cryptocurrencies, the lack of regulation and mixed user feedback suggest that potential traders should proceed with caution. It is advisable to consider alternative brokers that provide a more secure trading environment and better customer support.
