Rockfort Markets Review – Who is Rockfort Markets?
Rockfort Markets Ltd is a brokerage company registered in New Zealand in 2017. Being a financial service provider it holds a Derivative Issuer License issued by the Financial Markets Authority (FMA).
The firm provides online financial services and allows clients to trade shares, options, indices, forex, ETFs, CFDs, and futures on MT4. The broker offers profitable trading conditions like tight spreads, quick order execution, and good liquidity.
To meet the trading strategy of every investor, the firm allows the opening of different account types. Funding the accounts is fast through various depositing methods accepted.
Please read this detailed review of authorized brokers like JP Markets, TIO Markets, and Oanda.
Is Rockfort Markets Legit? Regulation and Security
As mentioned earlier, Rockfort Markets Ltd (previously known as GPP Markets) is a firm registered in New Zealand (NZBN 9429042010807). The exact address is Level 2, 22 Fanshawe Street, Auckland, 1010.
As a registered service provider (FSP509766), Rockfort Markets has a Derivative Issuer License issued by the Financial Markets Authority. FMA is a financial authority in New Zealand responsible for regulating financial services providers.
It also plays a role of a jurisdictional supervisor of trading services and processes, therefore, enforces rules and regulations.
Their primary purpose is the protection of clients’ funds and ensuring transparency. Operating under the watchful eye of the jurisdictional regulator proves Rockfort Markets to be legitimate.
The owning company of Rockfort Markets is also a member of FSCL (Financial Services Complaints Ltd). The organization enforces consumer protection and helps in cases of complaints.
To keep the clients’ funds safe, Rockfort Markets has partnered up with top-tier NZ banks to keep the investments in segregated accounts.
This method is applied to keep the safety of investments and separate them from the company’s funds. It is especially important in cases of a company collapse.
Rockfort Markets Fees
Rockfort Markets imposes certain fees. Their sum can change from time to time and they might vary. How the fees fluctuate mostly depends on different company circumstances.
It is advisable to read in depth the Product Disclosure Statement (PDS) that can be found on the site. Standard fees and charges apply in particular spheres of the trading process. Those are as follows:
Since Rockfort Market makes a profit off the spread, the difference between the bid and offer prices that it quotes the trader is important. Spread can vary, depending on the asset that the contract is relating to.
The firm keeps the percentage of the spread. That sum is the difference between the price at which the company enters the position and the other price offered to the trader. What determines the spread and makes it payable is when the trader activates a contract and closes it.
Rollover interest can be received or paid if a trader holds a particular position overnight. The way this interest is calculated is in compliance with the rate and according to the duration of the rollover time, as well as the spread.
This is known as the Rollover Rate. Rollover Interest is payable at the end of the trading day.
Deposit & Withdrawal Fees
Depending on the funding method chosen by the trader, Rockfort Markets can charge a transaction fee. Charging the deposit fee is in order to cover the costs associated with the specific payment method.
All fees relating to every individual funding method are listed on the deposit page and available for customers to see. Withdrawals to a New Zealand bank account are not charged. Processing withdrawals to other currencies or foreign and overseas banks pull a fee of $15 for each transaction.
Not all regulated and licensed brokers have the habit of charging the inactivity fee. However, Rockfort Markets does apply a fee when the account has been marked as inactive.
If there has been no trading activity on the account for a period longer than six months inactivity fee is charged. It is also applicable when the account balance falls below $100. The inactivity fee is charged $20 NZD monthly.
Trading Platforms at Rockfort Markets
Rockfort Markets clients can choose to trade on:
- MetaTrader 4
- TWS (Trader Workstation)
Each of the platforms brings certain benefits. In comparison, MT4 is more suitable for beginners and advanced traders, while TWS is often recommended for intermediate and advanced traders.
Both apps cover web and mobile trading and are free to be downloaded. MT4 provides markets for Forex CFDs and Indices, while TWS allows trading Shares, Futures, Forex, Options, CFDs, and ETFs. Although MT4 provides Expert Advisors, many indicators, and advanced charts, TWS also offers Market Scanner options, Strategy and Probability Lab, technical analytics, an events calendar, and others.
Trading on over 100 markets is possible with TWS web traders. There are over 60+ minor and major currency pairs to trade with lighting fast execution and tight spreads.
Thanks to Pairs Trading Tools, users can pair trading strategies while Basket Trader lets them trade multiple stocks with a single order.
Mobile Trading Platform
The mobile trading app is available for download for both Android and iOS. The app brings the possibility of accessing multiple markets and usage of advanced tools wherever the trader may be. Monitoring stock portfolios was made easier through the app and so is running scans, placing orders, and choosing strategies.
Available Account Types at Rockfort Markets
Being able to trade according to every investor’s style and experience is provided by offers of different account types. After checking what each of the accounts offers, investors can choose what best suits their trading needs.
Each account type brings certain features and trading opportunities, so it’s best to thoroughly compare before making a decision. Two main account types are:
- Standard account
- Pro account
The minimum deposit required in order to open the lower-priced account is $200. Spreads are from 0.0 pips, maximum leverage can go up to 1:500. There is no monthly minimum activity expected and MetaTrader 4 is available for both account categories.
The main difference is that the standard account represents trading with smaller trade sizes and it’s recommended for testing new strategies with minimal margin. No commission is charged.
Pro account on the other hand requires a commission of $6 per lot and is mostly for traders looking for specific spreads. Clients with Pro Account also get their own account manager.
Islamic accounts and increased leverage accounts are available per request, as well as corporate accounts.
Trading risk-free in a replica of the live trading environment is possible with MT4 Demo Account. The free trial lasts 30 days. During this time clients are provided full access to current spreads and default execution speed.
Clients using Demo accounts can trade currencies, commodities, and indices. For shares, options, and futures on the TWS platform, a live account is needed.
Rockfort Markets Deposits and Withdrawals
Investors can fund their live accounts by choosing one of several ways of depositing:
- Credit/Debit Cards (Visa, MasterCard)
- Poli Payment (New Zealand)
- Bank Transfer (International)
- Bank Transfer (New Zealand)
The minimum deposit amount required in order to start trading with a live account is $200.
The withdrawal process is secured through reliable SSL encryption. All withdrawal requests are verified by the staff before processing. Withdrawn funds are sent to the same payment method initially used for depositing in a minimal processing timeframe.
Rockfort Markets Educational Resources
Learning about the basics of online trading has been made easier through detailed articles. Various subjects are covered, from the products, platforms, and each tradable assets group to risk management strategies.
Customers are warned about the risks that leveraged CFDs can bring. For that reason, stop-loss orders, take-profit orders, and slippage are meticulously explained.
Beginners and professionals alike can find useful information on all aspects of the trading process. Slightly more helpful to beginners as it combs through the basics and sets up a lead to the implementation of a successful trading strategy.
In case Rockfort Markets hasn’t met a trader’s expectations or something else has gone wrong, there are several ways of contacting the company.
If an investor would like to make a complaint they are free to call +64 9 281 2012 to discuss their issue in-depth and send the written complaint to the Compliance officer at [email protected]
The response takes up to 5 business days. Besides email and phone, customer service is available through the live chat option. Even if all the staff is busy or offline at a particular moment, a message can be sent and the answer will come in the shortest possible time.
Rockfort Markets Overall Summary
Rockfort Markets is a brand that has been operating successfully since 2017. This online financial services provider is a regulated and reliable broker.
Although the minimum deposit amount being $200 isn’t the lowest required in the industry, the broker will still make it worth your time and investment.
By offering functional and fast trading software and providing great trading conditions, clients have a realistic chance for profitable trading results.
Different asset classes are available to trade, such as Shares, Options, Forex, ETFs, CFDs, and Futures. MT4 and Trader Workstation are exceptionally functional and promising software. With a variety of features and customizable options, anyone can design their own trading strategy toward success.
FAQs About Rockfort Markets Broker
Is Rockfort Markets Regulated?
Yes, Rockfort Markets has a Derivative Issuer License issued by the Financial Markets Authority (FMA) in New Zealand.
How Do I Contact Rockfort Markets’ Support?
Support can be contacted via phone number, email, and direct message.
When Was Rockfort Markets Founded?
The broker was founded in 2017 and is previously known as GPP Markets.
What Trading Accounts Are Available?
Types of trading accounts available are Standard, Pro, Islamic, Demo, and Corporate accounts.
What are Rockfort Markets’ Fees?
Rockfort Markets applies fees to spreads, deposits and withdrawals, and inactivity and also implements rollover interest.