CryptoRocket ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
CryptoRocket provides leveraged Crypto and Forex trading via the easy to use yet powerful MetaTrader 4 (MT4) trading platform for desktop, web and mobile devices. They have very competitive trading conditions on a vast range of trading instruments across multiple asset classes, including Forex, Cryptocurrency, Stocks, Indices and Commodities. Clients get excellent 24/7 support along with the option of Bitcoin trading accounts and funding. The minimum deposit required to open an account and start trading is low at just $10. There is also the option of a free demo account if you want to try them out before making a commitment. I think they are worth consideration for anyone looking for simple market access with minimal fuss. On the downside, the broker is not regulated which may deter some potential clients.
Pros & Cons
- Great selection of cryptocurrencies to trade
- Diverse selection of trading instruments
- Intuitive, powerful and user friendly MT4 platforms
- Straight Through Processing (STP) brokerage
- Very competitive trading conditions
- Bitcoin accounts and funding
- Same day withdrawals possible
- No account transaction fees for deposits/withdrawals
- No minimum deposit to start trading
- 24/7 customer support
- No MetaTrader 5 platforms
- No Islamic accounts
- Lack of educational content
- Lack of additional trading tools
- No managed accounts
- No FIX API solutions
- No daily market analysis
- Not regulated
CryptoRocket is an online broker that offers traders around the globe leveraged Forex and Crypto trading with good trading conditions including tight spreads, reliable execution speeds and user-friendly trading platforms. With CryptoRocket, you get the chance to trade on institutional liquidity that is sourced from major global investment banks, as well as from fully transparent liquidity execution providers. What this means for the trader is that you can have access to excellent rates, along with the ability to trade on tight spreads. In addition to forex currency pairs and cryptocurrencies, the broker also offers stocks, indices and commodities trading. They offer quite high leverage of up to 1:500 along with access to deep liquidity and excellent 24/7 customer support. There are reviews of CryptoRocket across the web that are very positive with many clients reporting that they are happy with the brokers service.
CryptoRocket uses a Straight Through Processing (STP) execution model. This means that each time you place a trade via the brokers trading platform, you do not have to worry about any dealing desk intervention or re-quotes. The STP execution model also removes any of the potential conflicts of interest that there could be between broker and trader. All trades are processed via an aggregator, which ensures that you get the very best rates they have available, as these come directly from the top-tier liquidity establishments they incorporate. I would always opt for a broker without a dealing desk as I would not want them to be taking the opposite side of my position. Overall, I feel that CryptoRocket can be a decent broker for anyone who wants to primarily trade forex or cryptos and you don’t mind the lack of regulation.
When it comes to choosing a broker, regulation is one of the first things that I look for. Whilst CryptoRocket is a legally registered forex broker located in the Saint Vincent and the Grenadines, they are not currently regulated by any government agency. The broker works very hard to provide a secure system. They are continuously monitoring their network for any suspicious activities. Although lack of regulation does mean that you do not get any protection should something go wrong, it does mean that the broker is able to provide certain products and services that a regulated broker may not be able to due to strict rules and proceedures. If you would prefer to use a regulated broker, AvaTrade is a viable alternative as they are regulated in multiple jurisdictions and also provide crypto trading.
CryptoRocket accepts clients from all over the world, excluding some countries where restrictions apply. If you find that they cannot accept users from your country for any reason, please feel free to browse our best crypto brokers for an alternative option.
MetaTrader 4 (MT4) Platform
CryptoRocket provide clients with free, safe and reliable trading platforms so that they can trade anywhere on any device with the MetaTrader 4 (MT4) desktop platform, Web Trader and mobile apps for iOS/Android devices. The mobile trading platforms are very useful for traders who need to access their account and manage positions whilst on the go whereas the web trading platform runs directly in most modern web browsers without the need to download or install any additional software. You can simply login to the Web Trader online platform using your CryptoRocket trading account details and you’re ready to trade. I like how the web platform is always up to date and that you can access it from any device. However, I prefer the desktop platform as it has greater functionality and supports automated trading. The trading app is ideal for following the latest market news and monitoring your trades as and when you feel like it.
The powerful and sophisticated MT4 trading platform is suitable for traders of all experience levels and investment size. Those new to trading can take advantage of its user-friendly interface whilst the more experience traders will be pleased to see an abundance of charts, tools, and useful features included. I think it is suitable for beginners whilst having more than enough tools to satisfy the needs of the more demanding traders. I have used the MT4 platform for years and like how it is customisable and easy to navigate. You can set it up to be as complex or simplistic as you need it to be.
Some of the key CryptoRocket MT4 platform features include:
- Fast, stable and reliable trading environment
- Large variety of built-in analytical tools for conducting detailed market analysis
- Trading signals, copy trading, one-click trading
- Automated trading via Expert Advisors (EAs)
- Strategy tester to back test EAs over historical data
- MQL4 editor to create custom indicators, scripts & EAs
- Free Code Base with thousands of technical indicators already available
- Support for multiple order types: market, pending limits and stops
- Trading directly from the charts
- Price alert notifications via SMS, email & platform pop-ups
- CryptoRocket MT4 is available for PC, Mac, Linux and for mobile devices – iPhone, iPad and Android
The CryptoRocket platforms have a large variety of trading tools implemented within them that will be more than enough to meet the needs of most traders. There are tools for conducting technical analysis of charts, fundamental analysis and more. Whatever your trading style, there is likely to be a tool that will benefit your strategy. You can even expand on the tools in the platform by installing free and paid add-ons which are easily accessible from the MQL marketplace which is available from within the platform itself. There is also the MetaEditor interface where you can program your own trading tools or hire a freelancer to do it for you if you don’t have the coding skills. I have built many of my own indicators and automated systems over the years that I still use to this day. If there is an idea you have for a trading strategy, chances are you will be able to bring it to life with the MT4 platform.
On the CryptoRocket website you will find numerous trading guides covering various topics including those that explain how to download and install the trading platforms, make deposits and withdrawals. To be honest, I think they are lacking in educational content if you are just get started out. If that is the case, then you may want to take a look at IronFX as they have plenty of educational resources which can help to bring you up to speed.
When trading online with CryptoRocket, you have access to a diverse selection of trading instruments to choose from across multiple asset classes. I think there are plenty of instruments for anyone to create a diversified portfolio, regardless of your interest. I would say the forex and crypto offering is where they really excel but think they could improve by adding some more individual stocks like RoboForex have.
- 55 Currency Pairs including major, minor & exotic FX crosses
- 33 Cryptocurrency Pairs including Bitcoin & Ethereum
- 64 Stocks based on shares of US, UK and EU companies including Amazon, Google, Facebook, Tesla, Netflix, Twitter & many more
- 11 Indices based on baskets of different blue-chip stocks and US Dollar Index
- Commodities including Gas, Oil and Precious Metals
The broker provided CFD trading instruments. In finance, a contract for difference is a legally binding agreement between two parties, typically described as “buyer” and “seller”, stipulating that the buyer will pay to the seller the difference between the current value of an asset and its value at contract time. This basically means that you can speculate in the price of an underlying asset without needing to physically own it. The difference in price between when you open and close your position, is the profit or loss minus any brokerage fees.
CryptoRocket keep things simple by offering one core account type which backs into the MetaTrader 4 trading platform. There is no minimum deposit amount to start trading and no restriction on trading strategies, so all types of traders are welcomed whilst the minimum lot size required is just 0.01. Their commissions are competitively low at around $6 per 1.0 lot which is very reasonable when compared to other online brokerages.
There is also a demo account option available if you would like to try the brokers platforms and practice your trading strategies. Pricing within the demo platform are the same as those within the live trading platform. The broker allows you to create as many live and demo accounts for each available currency option as you wish. I think demos are a great way for you to try a broker to see if they are suitable for your trading strategies. It can also be a way to build up your confidence before thinking about making a financial commitment.
CryptoRocket have a 24/7 live chat support team on hand to answer all of your general, technical or account related questions in a prompt and efficient manner. The native English support team is available at your fingertips whenever you are in need of assistance. You can also contact them using the online contact form or request a call back. There is a very useful frequently asked questions section on the brokers website which cover some of the common question’s traders have and supply you with instant answers.
I can appreciate that the broker takes the role of customer support very seriously and pride themselves in ensuring that each and every individual who trades with them receives the very highest level of care, regardless of their experience level or investment size. I have always received a quick response from them during the time I have had an account and would have no issue reaching out to them again in the future. It is important that support is around all of the time when you consider crypto trading is active on weekends.
You can deposit funds into your CryptoRocket account via credit/debit card, wire transfer, Bitcoins and Instacoins. The broker providers quick and easy access to your funds with same day processing to give you access as and when you need it. The withdrawal process is fast. Once approved, Bitcoin withdrawals should arrive in an hour or less depending on blockchain traffic. It should be noted that each withdrawal has to be made with the same payment system used for the deposit and must be in cryptocurrency form (the broker does have card payment facilities through their payment partner gateway as well as bitcoin deposits).
The CryptoRocket website has some very easy to follow guides that clearly explain step by step how to make deposit and withdrawals whilst the customer support team will be happy to help you if required. I haven’t had any issue making deposits or withdrawals but I did get stung by a blockchain fee which ended up costing me more than the amount I wanted to deposit. For this reason, I think they could improve by adding support for some digital wallets which would work out a lot cheaper and be much faster from my experience with other brokers.
- Time to Fund: Deposits are dependent on the speed of the Blockchain via BTC, and instant via Instacoins
- Min Deposit: 0 BTC
- Max Deposit: No limit
- Fee: Free
- Time to Withdrawal: Same Day
- Min Withdrawal: 0.001 BTC
- Max Withdrawal: No limit
- Fee: Free
CryptoRocket is a complete solution for trading forex and CFDs online via powerful and flexible trading platforms that are compatible across multiple devices including desktop, web and mobile (iOS & Android). They have useful guides and 24/7 support which can be beneficial for those new to trading whilst there is a good range of assets available to trade and flexible account funding options. Overall, CryptoRocket has very competitive trading conditions and welcome all types of traders from around the world. The downside being that they are not regulated which means protection could be limited in the event that something was to go wrong.