Rockfort Markets Review
Rockfort Markets is a regulated online trading broker based in New Zealand that offers Shares, Options, Indices, Forex, ETFs, CFDs, and Futures for online trading. The broker provides traders with the intuitive and powerful MetaTrader 4 and Trader Workstation trading platforms, for desktop, web and as mobile trading apps. Although relatively new compared to some other brokerage firms, Rockfort Markets Ltd. offers top notch services for its customers including good trading conditions, responsive customer service and a range of different banking methods for depositing and withdrawing funds with ease. They have a minimum deposit requirement from $200 and free demo trading accounts if you would like to trial the brokers products and services before making an investment.
Rockfort Markets Review, Pros & Cons
- MT4 trading platform to trade CFDs on Forex, Indices, Commodities, Metals & Cryptos
- Tight Spreads, fast execution & deep liquidity
- Licensed, regulated & based in New Zealand
- STP/ECN brokerage model
- Multiple trading account types
- Fast deposits & withdrawals
- A range of useful trading tools
- Weekly chart analysis
- Free trading signals from Trading Central
- Active customer service
- Dedicated account manager
- Limited account funding & withdrawal options
- Inactivity fee
- No US clients
- Minimum $200 deposit
In this detailed Rockfort Markets review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Rockfort Markets Overview
Based in New Zealand, Rockfort Markets is an online trading broker that provides traders with multiple financial instruments across different asset classes, such as Shares, Options, Forex, ETFs, CFDs, and Futures for online trading via the MetaTrader 4 and Trader Workstation trading platforms, along with a range of useful trading tools to help increase prodcutivity. The broker offers the straight-through processing (STP) execution model and has multiple account options to choose from, with a minimum deposit of $200.
Rockfort Markets (formerly known as GPP Markets) obtained its FSM license in February 2018. It began its CFD brokerage operations since early 2019. Since then, Rockfort Markets has been constantly striving to improve customer experience. This includes offering top notch customer service as well as offering competitive terms for trading.
As a New Zealand based regulated forex broker, Rockfort Markets takes advantage of the strict regulatory environment and thus offers a strong line-up of CFD products for retail traders.
Rockfort Markets Regulation
Rockfort Markets Ltd (previously known as GPP Markets) is a company registered in New Zealand (NZBN 9429042010807). Rockfort Markets Ltd is a registered Financial Service Provider (FSP509766) and holds a Derivative Issuer Licence issued and regulated by the Financial Markets Authority (FMA).
The Financial Markets Authority is the New Zealand government agency responsible for financial regulation. It is responsible for regulating all financial market participants, exchanges and the setting and enforcing of financial regulations.
The broker has partnered with top accounting firms (professional services) and ANZ (banking) to ensure the highest standards are maintained.
Rockfort Markets ltd. is also a member of the Financial Services Complaints Ltd. or FSCL for short. This is useful for any customer complaints.
Rockfort Market maintains all client deposits in a segregated account. This ensures that the client capital is ringfenced from the company’s daily operational expenses. Customer funds are held at the ANZ Bank in USD and NZD denominations.
Once a customer makes a deposit to their Rockfort markets trading account, the funds are then transferred to the segregated account. This increases the reliability and builds trust with its customers.
Rockfort Markets Countries
Although the company is based in New Zealand, its customer service and range of products are available for traders across the globe, with the exception of a few countries. As a New Zealand licensed and regulated forex broker, traders from anywhere in the world can sign up and trade CFDs with Rockfort Markets Ltd, however, there are a few restricted countries and a couple countries Rockfort markets do not accept client from.
The broker allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers. They cannot accept clients from the USA for example.
Some Rockfort Markets features and products mentioned within this Rockfort Markets review may not be available to traders from specific countries due to legal restrictions.
Rockfort Markets Platforms
Traders have the choice between the MT4 platform and the Trader Workstation.
The MT4 platform is easy to use and allows you to trade forex CFDs. These include a range of markets such as forex, indices, metals, commodities and crypto currencies.
You can also open a demo trading account using the MT4 trading platform to get a feel for the spreads and the markets.
The MT4 trading platform is available for Windows, Android and iOS platforms. Using a Windows virtual environment, you can also download MT4 on your Mac iOS.
MetaTrader 4 (MT4)
The Metatrader 4 platform is one of the most popular trading platforms in the world for trading Forex and Contracts for Difference (CFDs). It has a user friendly interface, advanced charting capabilities, vast array of built-in indicators and support for algorithmic trading.
MT4 offers users the following benefits:
- Diversify your trading with over 50 forex and CFD instruments, including precious metals, index, and commodity CFDs
- Conduct in-depth market analysis using built-in tools and different chart types over multiple timeframes
- Run Expert Advisors (EAs) for automated trading 24 hours a day, backed by a global MQL4 community
- Trade on the go with MT4 mobile apps for iOS and Android
- Precise risk management with micro-lot position sizing and demo accounts
- Set price alerts to notify you on market movements via SMS, email and platform pop-ups
MT4 allows you to trade from a variety of different chart types including bar charts, candlestick charts, and line charts. You can even place orders directly from the charts and enable one-click trading. The platform gives you access to over 30 indicators, 20 line studies, and 50+ technical studies with many more available free from the MT4 marketplace. Clients can analyze charts across multiple timeframes from intraday data down to 1 minute for day traders and up to monthly data for longer-term traders.
The MT4 trading platform is available as a desktop application for Windows and Mac computers, and as a Web Trader that runs directly on most modern web browsers and operating systems, thus eliminating the need to download or install any additional software.
There is also the MT4 Mobile app; it is a powerful smartphone-based software that provides watchlists, charting, technical analysis, and order execution directly from your phone. The mobile trading app can be downloaded for free from the relevant app stores and is beneficial to traders who wish to access their account and place trades from anywhere in the world, provided there is an internet connection.
The Trader Workstation Platform (TWS) is a one-stop shop for trading global markets on one platform. Traders get access to a multi-currency account where they can trade shares on over 30 exchanges worldwide, with news and research at your fingertips.
TWS has one of the widest ranges of Stock CFDs, along with CFDs on metals, ETFs, and commodities, and it offers reliable execution alongside detailed reporting. You can access the global markets from one account.
Trader Workstation users get to enjoy the following unique benefits:
- TWS provides trading on over 100 markets internationally across Stocks, Stock CFDs, Forex, Futures, Options, and ETF’s.
- TWS has one of the world’s largest ranges of Direct Market Access (DMA) Stock CFDs with low margins and exchange liquidity.
- Trade over 60+ Major and Minor Currency Pairs with tight spreads and fast trade execution speeds with straight-through processing (STP) and No Dealing Desk (NDD) interference.
- Trade International Shares on the ASX, US Exchanges, as well as Canada and Europe with some of New Zealand’s lowest commissions.
The TWS trading platform can be downloaded as a desktop application for Windows and Mac computers and as a mobile app that is compatible with Android and iOS devices. The TWS mobile app is one of the most advanced mobile apps on the planet with access to multiple markets, watchlists, and tools right from within the palm of your hands. The TWS mobile app supports Futures, Stock, Options, Forex, and ETF trading directly from the app interface. You can view and manage your trading account directly from your smartphone.
On the other hand, the TWS Web platform runs directly on modern web browsers without requiring any downloads or installations. It is amongst the best trading platforms with its sheer diversity of available tradable products and online trading tools.
TWS has a lot of helpful tools, such as Market Scanners, which scan the markets based on a variety of fundamental or technical criteria, and Event Calendar, which keeps you abreast of economic news and corporate events.
Rockfort Markets Trading Tools
The Rockfort Markets Trader Assistant helps you to stay in touch with not only your trading account but also the financial markets. The Trader Assistant provides clients with key market news, technical indicators, and trade ideas that are 100% personalized and delivered via leading messaging apps.
The Market Analysis enables traders to stay up to date with economic news and find out what’s moving the financial markets with the readily available commentaries and videos.
Dedicated Account Manager
The broker provides traders with a team of dedicated account managers that are committed to providing you with the highest level of trading assistance.
Rockfort Markets Education
Rockfort Markets offers a dedicated education section for traders.
Firstly, there is a comprehensive section when it comes to trading resources. Both beginners and professional traders will find lots of valuable information at Rockfort Markets.
These include trading guides, MT4 trading terminal tutorials and informative articles about the financial markets.
For traders who are more prone to getting advanced technical strategies, Rockfort markets has partnered with Trading central.
Access to the Trading central area is available only for live account holders. After your account is verified and funded, you can get access to Trading central’s analysis, trading signals and many more.
The education section of the broker’s website has detailed trading guides on how to use the broker’s platforms and trade the various products, as well as risk management topics. Traders can learn to navigate the financial markets using the provided trading guides.
Q & A
There is also a Q & A section on the broker’s website; it has a range of commonly asked questions and their corresponding detailed answers.
Rockfort Markets Instruments
When you trade with Rockfort Markets, you can get access to a number of financial instruments. Below are the main types of CFDs that you can trade with Rockfort Markets.
Forex CFDs allow you to go long and short on the underlying financial instrument, which is the forex currency pair. It is a synthetic derivative that does not require any further obligations such as taking delivery of the underlying financial instruments.
Forex CFDs at Rockfort Markets are financially settled. Meaning the profit and loss is based on the difference between the entry price and the closing price.
Rockfort Markets allows trading on Forex CFDs – over 50. These include forex major currency pairs such as EURUSD, USDJPY, GBPUSD, USCHF, USDCAD, AUDUSD.
Traders can also access a wide range of cross currency pairs such as EURGBP, AUDNZD, EURNZD and so on. There are also exotic cross currency pairs such as EURPLN, NOKSEK.
Finally, a select range of exotic currency pairs are also available for trading. These include USDHKD, USDSGD, USDZAR and many more.
Commodity CFDs operate in the same way as forex CFDs. The different types of commodity CFDs available for trading at Rockfort Markets include the Brent Crude oil and the WTI Crude oil[AO3] [HB4] .
When it comes to precious metals, traders can choose from trading Gold and Silver CFD instruments.
CFDs on Indices
Rockfort Markets has a wide range of CFDs on indices. These include the Australia ASX200, FTSE100, Euro Stoxx 50, S&P500, Dow Jones Industrials.
Note that since you are trading CFD indices, the names of the financial instruments can differ. Trading on the CFD indices are available 24 hours a day, five days a week.
CFDs on crypto currencies
At Rockfort Markets, there are also a wide range of crypto currencies that you can trade. These include:
- Bitcoin Cash
- Lite Coin
Trading with CFD crypto currencies is also possible 24 hours a day, five days a week.
Rockfort Markets Accounts & Fees
Rockfort Markets offer a number of different MT4 account types to suit different trading styles and experiences. The available account types include:
This account type has an initial deposit requirement of $200 and is the broker’s most popular account. It can be used for running expert advisors and is designed to suit regular traders who want competitive spreads and zero commission trading. Spreads start from 0.8 pips.
The PRO Account has a required minimum deposit of $2,000 and is designed for the professional traders who normally trade larger amounts. It offers ECN market spreads and access to your own account manager. The spreads start from 0.0 pips, while a commission of $6 per lot is charged on trades.
Swap-free Islamic accounts that comply with the Sharia law are available upon request.
Rockfort Markets offer demo accounts if you wish to trial their services and practice your trading strategies with virtual funds. Demo accounts are popular amongst new traders and can help to familiarise yourself with online trading via the various platforms.
Rockforex Market Fees
Rockfort Market does not charge any commissions on trading for the standard account as it is included within the spread. There is a small $6 commission fee on the pro account.
The spreads differ depending on the asset class that you trade. While Rockfort markets has competitive spreads on forex majors and other highly liquid financial CFD instruments, the spreads widen when you want to trade exotic instruments.
Besides the spread, a rollover interest is applied for positions that are kept open overnight. The rollover fees can be accessed by clicking on the Market Watch and selecting the symbol specifications option.
There are no additional trading fees or commissions applied. For deposits, there is a 3% credit card transaction fee and a fixed fee for international bank WIRE withdrawals.
An inactivity fee is also applied for trading accounts that remain dormant for more than six months with a balance below $100.
As broker fees can vary and change, there may be additional fees that are not listed in this Rockfort Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a Rockfort Markets broker account for online trading.
Rockfort Markets Support
The broker provides clients with a knowledgeable customer support team who are on hand to offer polite and prompt response to traders’ general, technical, and account-based inquiries. They can be reached via Telephone, Email, and Online Live Chat. The broker is also on social media handles: Facebook, Twitter, YouTube, and LinkedIn. The customer support works 24 hours a days and traders can reach Rockfort Markets through any of the above means of communication.
Rockfort Markets Deposit & Withdrawal
Rockfort Markets offers a range of payment providers for your convenience. They include:
- Bank Wire Transfer (New Zealand and International Swift)
- Credit/Debit Cards, such as Visa and MasterCard
Some funding methods may not be available to some specific countries, while the transaction processing time may vary depending on the payment provider or method. Some fees may be charged when using certain payment methods.
You can withdraw available funds from your account at any time by simply completing the withdrawal request; all withdrawal requests will be verified by the team before funds are sent back to you. Please make sure that funds are sent to an account in your name, in keeping with the anti-money laundering laws. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
You can deposit funds using the bank WIRE or credit/debit card deposit and withdrawal methods. It is advisable to keep the minimum deposit at $200. Note that with a 3% transaction fee, the total amount you will receive in your trading account will be $194.
Since trading accounts can be created in different currencies (AUD, NZD, EUR, JPY, USD), you should bear in mind the currency conversion as well.
Deposits can also be made via a bank WIRE transfer. When doing so, you should mention your MT4 trading account or your TWS trading account number.
This will enable faster deposit times when choosing a bank WIRE transfer.
Payments can also be made via eWallets such as POLI or BitWallet. However, the POLI payment method is applicable for transfers within New Zealand. BitWallet is a fast and secure way to deposit, there are NO fees for using BitWallet.
For withdrawals, traders can use the same methods mentioned above.
Bank Wire withdrawals in non-NZD denominations will have an additional fee of $20, which will be deducted from the withdrawn amounts.
Withdrawals are usually processed the same day and can take up to five-business days, if not sooner when choosing WIRE transfers. Withdrawals to BitWallet will appear in your BitWallet account immediately
Rockfort Markets Account Opening
Opening a Rockfort Markets live trading account is quick and easy. You can simply complete the broker’s online application form. After submitting your application, you will receive a confirmation email from the support team that will explain how to deposit funds and start trading online. You can contact the broker’s customer support for the verification documents required or if you need any help during the account opening process.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Rockfort Markets FAQ
What is the Rockfort Markets minimum deposit?
The minimum deposit required by Rockfort Markets is $200.
How do I deposit money into Rockfort Markets?
Rockfort Markets traders can deposit funds to their trading account using any of the following means.
- POLI (New Zealand)
- Bank Wire Transfer
What are Rockfort Markets deposit fees?
For deposits made using Credit cards, there is a 3% transaction fee that is applied.
How do I withdraw money from Rockfort Markets?
Traders can also withdraw funds using the same means of deposit which includes:
- POLI (New Zealand)
- Bank Wire Transfer
When making a withdrawal via a Credit or debit card, the funds that you withdraw are initially paid back to the same credit/debit card. Any outstanding amounts can then be transferred via a regular bank transfer as well.
What are the Rockfort Markets withdrawal fees?
For electronic bank transfers within New Zealand. For international transfers and fee of $20 is applied on the withdrawal for non-NZD currencies (i.e: AUD and USD).
What is the Rockfort Markets commission fee?
Rockfort Markets have a commission free account with spread mark-ups or a spread from 0.0 pips account with a $6 commission fee.
Are there any Rockfort Markets inactivity fees?
There is an inactive fee at Rockfort markets. The price is NZD 20 per month if your account is inactive or more than size months and the trading balance falls below $100.
What are the Rockfort Markets account types?
Rockfort Markets have a standard account with no commission, pro account with spreads from 0.0 pips and a $6 commission fee, demo accounts and Islamic accounts.
Is there a Rockfort Markets demo account?
Yes, you can open a Rockfort Markets demo account at no cost. It comes preloaded with virtual funds so that you can test out your trading strategies without any risk involved and get a feel for what the broker has to offer.
What are the Rockfort Markets spreads?
Rockfort Markets charges a spread on a trade opened by the trader. The spread is the difference between the bid and ask price. The spread can differ depending on the financial instrument that you are trading.
Besides the spread, trading positions that are left open overnight also attract overnight financing costs. Also called, Rollover interest, the interest can be credited or debited from your trading account. The rollover interest varies depending on the financial instrument in question.
You can find more information about this when you click on the symbol specifications on the Rockfort Markets MT4 trading platform.
What is the Rockfort Markets leverage?
Rockfort Markets offers traders a standard leverage of 1:500.
Do Rockfort Markets allow hedging, scalping, news trading & expert advisors?
Yes, Rockfort Markets do not impose any specific restrictions on trading styles. All trading strategies and styles are welcome, including automated trading with expert advisors.
Is there a Rockfort Markets Islamic account?
Yes, Rockfort Markets do offer swap-free Islamic account for Muslim traders.
What are Rockfort Markets trading instruments?
Rockfort Markets clients can trade CFDs, Shares, Indices, Options, Forex, Cryptos, ETFs, Futures.
How do I open a Rockfort Markets live account?
Traders can open a demo or a live trading account at Rockfort Markets.
The demo trading account allows you to trade CFDs on the MT4 trading platform. To open a live trading account, traders can choose the option to use the MT4 trading platform or the Trader Workstation (TWS) platform.
Note that customers from certain countries are restricted from opening an account with Rockfort Markets. Refer to the FAQs on the list of restricted countries at Rockfort Markets.
How do I verify my Rockfort Markets account?
You can verify your Rockfort Markets account by providing a proof of identification and up to date proof of address, no more than 6 months old.
What is Rockfort Markets trading platform?
Rockfort Markets supply the MetaTrader 4 and Trader WorkStation platforms for desktop, web browser and mobile trading apps for iOS or Android devices.
Where can I download Rockfort Markets platform?
You can download the Rockfort Markets trading platforms directly from the brokers website, MetaQuotes or the relevant iOS and Android app stores.
Where is Rockfort Markets located?
Rockfort Markets is based in Auckland, New Zealand. It holds a business license 9429042010807 and is based off Level 2, 22 Fanshawe St., Auckland Central, Auckland 1010.
Is Rockfort Markets regulated?
Yes. Rockfort Markets is a legal and a legitimate forex broker, based in New Zealand. The company holds the Derivatives issuer license with the FMA number 509766. Rockfort Markets is also a member of the FSCL, which brings transparency when it comes to any client complaints.
What countries does Rockfort Markets not accept?
Customers from the following countries are not allowed to open a live trading account with Rockfort Markets. The restrictions are in place, adhering to the international sanctions as well as regulatory oversight. The restricted countries include:
- North Korea
- Sudan Mozambique Syria
- Myanmar (Burma)
- Mainland China
Is Rockfort Markets a scam?
No, Rockfort Markets is a scam. They are a regulated broker that is focused on providing top class trading products and services to a global clientele.
How can I contact Rockfort Markets support?
You can contact Rockfort Markets customer support 24/5 via live chat, telephone, email and social media.
Rockfort Markets Summary
RockMarkets is a regulated online trading broker that operates from New Zealand. The broker offers multiple trading instruments for trading online via the MetaTrader 4 and Trader Workstation platforms. They have a generous range of useful trading tools and educational materials, along with low spreads and commissions.
Being a licensed forex broker holding a derivatives issuer license, the company is well regulated. Traders can rest assured about the business itself. In terms of the choice of the different markets available, traders can choose from a rather wide pool of financial instruments. This ensures that traders have a choice to diversify their trading strategies when it comes to the different asset classes. The banking and account opening means are straightforward. There are no hidden fees or charges, and Rockfort Markets takes pride in being transparent about this.
Trading in Rockfort Markets derivative products may not be suitable for everyone as derivative products are high risk. Please ensure that you understand the risks involved. A Product Disclosure Statement can be obtained from the broker’s website and should be considered before trading with them.