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CryptoRocket Review

Minimum Deposit: $10 VISIT BROKER

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

CryptoRocket is a robust online trading solution for forex and CFDs, with sturdy and flexible trading platforms friendly with various devices, including desktop, web, and mobile (iOS & Android). They feature helpful tutorials and 24/7 assistance for people new to trading, a diverse variety of assets to trade, and flexible account financing methods. Overall, CryptoRocket offers decent trading conditions and welcomes traders of all sorts from all around the world.

Investing Brokers

March 7, 2023

CryptoRocket is an online crypto broker that has been providing its services since 2018. The broker’s parent company CryptoRocket Limited is registered in St. Vincent and the Grenadines. However, the broker is not authorised or regulated by any government regulatory body at this time.

The broker offers a very basic product portfolio with around 150 tradable instruments over popular asset classes, including forex, cryptocurrencies, commodities, stocks, indices, and futures. CryptoRocket offers competitive trading conditions, including tight spreads, popular and simple trading platforms, and reliable execution speeds.

Clients of CryptoRocket have access to institutional liquidity supplied from major global investment banks as well as completely transparent liquidity execution providers. Straight Through Processing (STP) is the execution mechanism offered by the broker. Therefore, traders won’t have to worry about dealing desk interference or re-quotes while placing trades.

Educational and research resources aren’t offered in abundance, but experienced traders can manage within the resources provided. There is also the option of a free demo account if you want to give them a try without making any financial commitment.

CryptoRocket is worth consideration when it comes to the cryptocurrency offering, as it provides more than 35 cryptocurrencies to trade. 24/7 customer support also means you can get support on weekends which is important as the crypto market is always open. In addition, no deposit and withdrawal fees and no minimum deposit seems appealing, but you have to take into account the substantial blockchain fee you might incur. In fact, I made a deposit with the broker and had a massive chunk of my funds eaten up by the blockchain. I therefore think that they could improve significantly by adding support for more funding methods such as e-wallets. Whilst a minimum deposit of $10 sounds good, chances are you will not get a blockchain fee less than that.

I think it is very important to make the uninformed aware that CryptoRocket is not a regulated broker, and thus you may not have any protection should things go wrong. The company is not listed on any stock exchange. The broker does not offer Islamic accounts. There is also a minimum withdrawal requirement of $10. They do not currently provide MT5 although mention that they planning on doing so soon. There aren’t enough educational resources for beginners and just one account type available. If you are looking to trade cryptocurrency in a regulated environment, you could consider XTB instead. They are regulated and provide an abundance of trading tools and educational resources.

Let’s look at summarised pros and cons while using CryptoRocket’s services.

CryptoRocket has a limited product portfolio when compared to the best CFD brokers. The broker offers CFDs trading of around 150 assets in multiple classes, including 55 forex pairs, 38 cryptocurrencies, 6 commodities, 10 indices, 1 futures, and 73 stocks. However, the broker lags in offering options, bonds, and ETFs trading to its customers. Additions of these popular asset classes could be a great idea.

CryptoRocket Instruments Summary

Commission and Spread Fees

CryptoRocket offers CFD trading with reasonable costs as compared to its competitors in the industry. Traders can start trading with tight spreads starting from just 0.1 pip and are charged a commission fee of $3 per standard lot per side. This works out at $6 per lot per round turn, which is slightly below the industry average. However, you can get spreads from 0.0 pips, a lower $4 commission and trade cryptos with RoboForex.

Deposit and Withdrawal Fees

CryptoRocket proudly offers a variety of convenient payment options to deposit and withdraw. In addition, the broker does not charge any additional fee for deposits and withdrawals. However, you may incur third party fees from your payment processor and a blockchain fee, which is I mentioned can be quite substantial.

Inactivity Fees

While having an account with CryptoRocket, no inactivity fee is charged from the clients who haven’t conducted a trading activity in some time. This is an advantage that they have over some other brokers.

Users of CryptoRocket get access to the MetaTrader 4 terminal. This well-known trading platform is user-friendly and has a lot of useful features. MT4 is compatible with both Android and iOS, making mobile trading a breeze. Furthermore, CryptoRocket’s platform is available as a web-based platform, allowing users to access their accounts from any device with a web browser.

MetaTrader 4 (MT4)

With the MetaTrader 4 (MT4) desktop platform, Web Trader, and mobile trading app for iOS/Android devices, CryptoRocket provides clients with free, safe, and reliable trading platforms that allow them to trade from anywhere on any device. Traders who want to access their accounts and manage positions while on the go will benefit from the mobile trading apps. The online trading platform operates straight in most popular web browsers without downloading or installing any extra software. You may trade immediately after logging onto the WebTrader with your trading account information and get access to the latest version of the platform. Traders of all levels of expertise may benefit from the strong and sophisticated MT4 trading platform. Those who are new to trading will like the user-friendly design, while more experienced traders will appreciate the number of charts, tools, and powerful features. Here are some of the key features traders enjoy while using MT4:

MetaTrader 5 (MT5)

CryptoRocket claims that it will soon start offering the more advanced MetaTrader 5. This multi-asset trading platform carries all the usual features of MT4, and additionally, it has more analytical tools, order types, and tradeable asset classes. If you are looking for a crypto broker that already provides MT5, then you could take a look at Admirals. They have both the MetaTrader platform and are well regulated. Here are some features of MT5 that will attract traders:

CryptoRocket Platforms Summary

The CryptoRocket trading platforms have a wide range of trading tools that should be more than sufficient to suit the demands of most average to advanced traders. There are tools for technical analysis, fundamental analysis, and other activities. Whatever your trading style is, there is almost certainly a tool that may help you improve your trading strategies. There are multiple instructions in the guides section on the CryptoRocket website that cover a variety of issues, including how to download and install trading platforms, make deposits and withdrawals, and so on.

On the other hand, the broker fails to provide popular educational resources such as market analysis, video tutorials of the platforms, or webinars and podcasts. The broker does not offer any research tool such as Autochartist, Trading Central, economic calendar, and trading calculators. It would be great to have these educational and research tools on your side while trading in these fast-paced global markets. I would suggest having a look at Fortrade who have lots of helpful resources to assist with your decision making.

CryptoRocket Research and Education Summary

Credit/debit cards, wire transfers, and cryptocurrencies are all options for funding your CryptoRocket account. The broker offers same-day processing and instant access to your assets, allowing you to access your money whenever you need it. The withdrawal procedure is simple and quick. Bitcoin withdrawals should come in an hour or less after approval, depending on blockchain traffic. It should be noted that withdrawals must be made using the same payment option as the deposit. There is no minimum deposit requirement from the CryptoRocket. However, the broker allows withdrawal of a minimum of $10. Just be aware that the blockchain fee can be high. I have had a situation where the blockchain fee was greater than the amount I was trying to deposit so I was left out of pocket. If you would prefer to avoid the blockchain fee, then FXChoice have a good range of payment methods, including e-wallets.

CryptoRocket Funding Summary

CryptoRocket Limited is the parent company behing CryptoRocket broker. The company is registered offshore in St. Vincent and the Grenadines. The country’s less strict laws make it a popular location for offshore companies. On the other hand, the broker is not authorised and regulated by any well-known government regulatory authority globally. Lack of regulation does remove some investor protection but also enable them to provide certain trading products and services that a regulated brokerage firm wouldn’t be able to due to strict rules and regulations put in place to protect investors. If like me, you would prefer to use a regulated broker, then Pacific Union may be worth exploring instead.

CryptoRocket Regulation Summary

CryptoRocket Safety

The parent company of CryptoRocket does not hold a banking licence and is not listed on any stock exchange. Also, the broker or its parent company does not disclose their financial information in public. But, the broker puts forth a lot of effort to ensure that the system is safe. They retain a close eye on their network for any questionable activity. It places a high priority on the safety of your assets. The broker keeps customers’ funds separate and keeps BTC wallets’ information in cold storage. All funds are saved on offline external storage devices rather than on the company’s servers using this approach. This provides extra protection for Bitcoin depositors and withdrawals. In order to secure funds, this broker employs tactics such as user behaviour analysis. The software is able to track the login and transfer habits that its users display. Any questionable behaviour is promptly flagged and highlighted by the firm to the relevant users. Finally, in order to protect customer money, the broker employs two-factor authentication.

CryptoRocket has live chat support available 24/7 to answer any of your general, technical, and account-related issues. The online contact form is also an easy way to get in touch with them or request a call-back. A very informative FAQs section on the broker’s website addresses some of the most typical questions that traders might have in their minds. CryptoRocket takes customer service seriously. They take pleasure in ensuring that every person who trades with them is treated with the utmost care, regardless of their level of experience or investment. I have always received a prompt and polite response to be fair to them.

CryptoRocket is a popular broker for crypto lovers in general. The ability to deposit and withdraw Bitcoin, as well as the quick transaction times, are appealing features. The minimal minimum deposit and withdrawal amounts enable unrestricted money mobility, especially because there are no associated broker fees. CryptoRocket provides its customers with a diverse selection of cryptocurrencies and a limited variety of other assets, along with responsive customer service that is available 24/7 to help. However, they do not provide Islamic accounts for Muslim traders and regulation could be improved. I would also like to see them provide MT5 and some alternative funding options as blockchain fees can be quite high. If you are looking for a regulated broker with swap-free accounts and crypto trading, CAPEX can be worth checking out as an alternative option. In saying that, if you are looking to just trade crypto or forex and do not mind the lack of regulation, they do provide a free demo account so you can give them a try without taking any risk.

CryptoRocket Review

Minimum Deposit: $10

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