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Rockfort Markets Review - is it scam or safe?

Rockfort Markets review - Is rockfortmarkets.com scam or good forex broker?

RATING: 3.3 / 0 REVIEWS Rockfort Markets
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Rockfort Markets is a forex and CFD broker from New Zealand, that also offers physical shares and options through their partnership with Interactive Brokers. Rockfort Markets, formerly known as GPP Markets, is licensed and authorized by the local  Financial Markets Authority. For more details about their offer you may check our review. 

 

Trading account  Min. deposit Max. leverage Spread
Mini Account $500 1:400 1,5 pips

Standard Account

$1 1:400 1,1 pips
Pro Account $20 000 1:400 0,6 pips plus $7/lot 

 

Rockfort Markets Advantages:

 

Licensed and authorized in  New Zealand

 

Since the regulators in Europe, the US, Canada and Japan capped the maximum leverage allowed for retail traders well below 1:100, New Zealand and Australia remain the only major and reliable regulatory hubs, where brokers are still able to offer their clients virtually unlimited leverage.

 

And precisely that makes a New Zealand license so attractive – it both gives traders peace of mind that they are dealing with a trusted broker, and gives the brokers operational flexibility and the advantage to offer higher leverage.

 

Rockfort Markets is owned and operated by Rockfort Markets Ltd, which is a registered Financial Service Provider (FSP509766) and holds a Derivative Issuer License by the Financial Markets Authority (FMA) of  New Zealand. As we already noted  Rockfort Markets Ltd was formerly known as GPP Markets Ltd – the company officially changed its name on July 18th.

 

 

Rockfort Markets is also a member of the Financial Services Complaints Limited (FSCL), which is an approved dispute resolution scheme under the Financial Service Providers (Registration and Dispute Resolution) Act adopted in 2008.

 

In general, the FMA requirements are similar to the ones introduced in Europe by institutions like the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC). The minimum operational capital that FMA requires each of its brokers to hold at all times is 1 million USD, and is comparable to the one in Europe – 730 000 EUR.

 

Good selection of trading instruments, including options and shares

 

On its MetaTrader4 platform Rockfort Markets offers some 56 currency pairs across all major markets, lots of which minor or exotic like USDZAR, USDTRY, USDSEK, USDRUB, USDPLN, USDNOK, USDMXN, USDILS, USDHUF, USDDKK, USDCZK, USDCNH, USDSGD and USDHKD. And the broker also offers CFDs on precious metals like silver and gold, Brent, Crude Oil and 11 indices.

 

On top of that, available on the Trader Workstation Platform, you can find over 1000 physical shares from over 36 exchanges worldwide as well as options and futures on global indices and commodities. Those instruments, however come with some trading fees, while for trading CFDs on the MT4 you will just pay the spreads.

 

CFDs on shares and indices are also available on the Trader Workstation Platform. 

 

Leverage as high as 1:400

 

We already mentioned the leverage advantage you have when trading with brokers from New Zealand and Australia. With Rockfort Markets you can enjoy leverage as high as 1:400, but you should definitely use it with caution as higher leverage always comes with higher risk. And besides here you may also check our list of brokers regulated in Australia:

 

>>Brokers regulated in Australia<<

 

Tight spreads

 

With their standard account Rockfort Markets offers spreads starting from about 1 pip and that is certainly attractive, especially since there is no trading commission. Still, here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

You can start trading with just 1 USD

 

Rockfort Markets does not have a minimum deposit requirement with their Standard Account and that is in line with the best practices on the market. For example some popular brokers like FBS and IG also does not have a minimum deposit requirement.

 

With Rockfort Markets you can open a trading account in NZD and USD.

 

A choice between MetaTrader4 platform and Trader Workstation

 

Trader Workstation is a trading platform designed for Interactive Brokers, which allows traders to buy stocks, options, futures, forex, bonds and funds on a variety of markets worldwide from a single account. 

 

MetaTrader4 on the other hand is the most popular trading platform on the market, featuring numerous market indicators and trading robots, with the help of which one can easily run algorithmic trading sessions. Besides, here you may also check our list of brokers supporting the MT4:

 

>>MT4 Brokers<<

 

Rockfort Markets Disadvantages:

 

E-wallets like Skrill and Neteller not available

 

Rockfort Markets accepts payments with wire transfer, credit and debit cards like VISA and MasterCard, and POLi, an electronic payment system available to clients in New Zealand only.

 

Some popular e-wallets like Neteller and Skrill, however are not available.

 

Withdrawals in New Zealand dollars to a New Zealand bank are free of charge, while withdraws to other currencies or overseas banks attract a fee of 15 USD per transaction.

 

Conclusion:

 

Rockfort Markets is a reliable New Zealand broker, where apart from the various CFDs and currency pairs, which you can trade with a leverage as high as 1:400 on the well known MetaTrader4 platform, you can also trade with physical shares and options on  the Trader Workstation platform. 

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Traders` reviews for Rockfort Markets

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