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Rock Capital Markets Review - is it scam or safe?

Rock Capital Markets review - Is rock-finance.com scam or good forex broker?

RATING: 1 / 2 REVIEWS ForexBrokerz Rock Capital Markets
Rock Capital Markets is an offshore broker. Your money is not safe.

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Rock Capital Markets is an offshore broker, regulated in Vanuatu – a license which honestly dose not make Rock Capital Markets more reliable then the brokers that does not have a license at all. In any case if you are thinking about opening an account with them be sure to read the following review first.

  

 

Trading account  Min. deposit Max. leverage Spread
Standard Account $250 1:500 n/a
Gold Account $250 1:500 n/a
Bitcoin Account 0,01 BTC 1:500 n/a

 

 

Rock Capital Markets Advantages:

 

Various trading instruments, including crypto CFDs and ETFs

 

The variety of trading instruments is always welcome. With Rock Capital Markets you can trade with over 40 currency pairs many of which exotic, crosses or minor like USD/ZAR, USD/TRY, USD/SGD, USD/SEK,  USD/RUB, USD/PLN, USD/NOK, USD/MXN, USD/HUF and USD/CNH. 

 

As for the CFDs the choice is between gold, oil, natural gas corn, wheat, 9 indices, 2 ETFs, stocks and a couple of major crypto coins including Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, IOTA, Monero, Ripple and Zcash. And if you like the idea of trading crypto, here you may also check our list of broker trading with bitcoin CFDs.

 

Leverage as high as 500:1

 

A leverage of up to 1:500 is basically as high as it can get. Bear in mind that because of the higher risk such leverage is usually associated with, higher margin trading was significantly restricted in Europe the US, Japan and Canada, leaving Australia the only regulatory hub, where leverage of up to 1:500 is still allowed. Besides, here you may also check our list of brokers regulated there:

 

>>Brokers regulated in Australia<<

 

You can start trading with 250 USD 

 

250 USD is the required deposit to open a trading account with Rock Capital Markets and that we should admit is a standard amount with most brokers. Some big players like FBS and IG however do not have a minimum deposit requirement at all.

 

Rock Capital Markets Disadvantages:

 

Unreliable license

 

The website is managed by Rock Capital Markets, which is regulated by the Vanuatu Financial Services Commission (VFSC), but as we already noted a forex license issued in Vanuatu is hardly worth more than the piece of paper it is written on. 

 

It is true that since July 2017 the minimum capital requirement for Vanuatu regulated brokers was raised to 50 000 USD from 5000 USD, but that is not comparable with the minimum capital requirement of 730 000 EUR with all EU regulated brokers, or the 1 000 000 AUD as required by the the Australian Securities and Investments Commission (ASIC). 

 

Also a commission based somewhere in the South Pacific simply lacks the resources to regulated and oversee internationally operating brokers.

 

Besides, with a broker regulated by the  Financial Conduct Authority (FCA) in the UK, your funds will even be insured for up to 85 000 GBP, so here you may also check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Client agreement missing

 

That is really a problem. There is a certain set of obligatory legal documents every broker should offer their clients and the Client Agreement or the broker's Terms and Conditions is probably the most important of those. With Rock Capital Markets such a document was not available on their web page, so basically if you open a trading account with them you will have to agree with something you have not read.

 

For example many offshore brokers offer trading bonuses or promotions, which are always linked to some additional withdraw conditions - a certain minimum trade volume requirement. The practice is highly controversial and is basically banned in Europe and on many other regulated markets as well.

 

MetaTrader4 not supported

 

Rock Capital Markets offers a web based trading platform. You can see the layout here:

 

 

And although the platform has some basic market indicators and charting tools, we miss the good old MetaTrader4 – undoubtedly the most popular trading platform on the market, with which one can easily run automated trading sessions. This is done with specially designed customizable trading robots  or Expert Advisros, as they are called. Besides, here you may also check our list of brokers, offering the MT4:

 

>>MT4 Brokers<<

 

Spreads too good to be true

 

Rock Capital Markets advertises spreads as low as 0,3 pips without trading commission and that is unrealistic. “Raw spreads” of between 0 and 0,3 pips are always offered with some trading commission, which when calculated into the equation makes the actual spread at least 0,6 pips. Things rarely get better then that. In any case here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Skrill not accepted as payment method

 

The payment methods accepted by Rock Capital Markets include QIWI Wallet, WebMoney, Yandex Money, VISA, MasterCard and bank wire. However, one of the most popular e-wallets – Skrill, is not accepted and that is notable because of the anti-scam policy of the money transfer company. 

 

Skrill does not support brokers that can not show a legit license. As we noted Rock Capital Markets is not a properly regulated broker. 

 

Conclusion:

 

Rock Capital Markets is an offshore broker, “lightly” regulated in Vanuatu. Unfortunate we can not credit Rock Capital Markets with that, because a Vanuatu license is not comparable to the licenses issued by FCA in the UK or ASIC in Australia. As usually in such cases we will repeat our general advise to trade only with brokers holding legit licenses to trade in Europe, the USA or Australia.

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Traders` reviews for Rock Capital Markets

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Stop! Scam!

Scammers! You will never get your money back! Please be care!

Olga 08/07/2019
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