How did I first hear about CryptoRocket?
On almost a daily basis, I read daily market overviews posted on an educational website called Ditto Trade, which is where I came across some advertisement images of CryptoRocket. I also saw some comments on them on social media so thought I would have a look myself. The brand name is not common and somewhat quite ‘normal’ and less sophisticated than what you usually come across, yet this stood out in the way of a Cryptocurrency mention, which caught my attention.
What was my first impression of them as a broker?
From the tentative mentions of traders on social media in light of testing the broker out on demo, it became apparent that they are a relatively new broker to the industry. I also learnt from reading comments online, that they are a Bitcoin deposit/withdrawal only broker. Instantly, I could acknowledge that this 100% anonymous trading would not perhaps, appeal to everyone, but would certainly appeal to many traders who seek fast deposits/withdrawals and less hassle when doing so.
How easy is it to navigate the broker website?
The website itself could not be more simplistic; navigation is easy and there are no over-complicated catchy slogans bombarding you as you take a look around. The broker website feel is nothing less than straightforward, which I anticipated would reflect the service they provide also. I noticed that they also offer more than just Forex platform; they offer ‘Bitcoin whale alerts’, Industry news, and some brief Forex Guides.
Do they offer a variety of tradable assets?
Yes, Crypto Rocket offer a fair variety of tradable assets: 30 Crypto pairs, 55 currency pairs, 104 Stocks as well as 11 Indices. I feel this is a good variety and is suitable for a across the average client base, especially if you like to trade Crypto CFDs as they certainly offer a variety. You can check out all instruments available as they are all displayed on the website.
Do they offer different account types and what are the benefits?
It was very refreshing to know that CryptoRocket keep things exceptionally simple by offering one account type for all rather than offering a handful with benefits that are so over complicated, making it difficult to establish the ‘best’ broker for you as an individual trader. You are able to open one account type, compatible with MT4 (desktop/ web trader or mobile version).
I also want to note here that the Client profile/account area is also very simple and straightforward to navigate.
How competitive are their spreads?
The spreads can be viewed via CryptoRocket MT4 demo account as well as live. I checked out the spreads first on the demo account first of all and found the Forex majors to be more than satisfactory, and that is applicable across a broad range of instruments they offer. In particular, their cryptocurrency spreads are incredibly competitive, with the average spread on BTC USD being: 26.62 which is among the best I have personally come across in the industry of brokers offering cryptocurrency trading.
What is the maximum leverage they offer?
The maximum leverage CryptoRocket offer is 1:500. I spoke with a live chat agent who confirmed that the maximum leverage allowed for Forex trading is 1:500, and for cryptocurrency trading, you may trade with leverage of up to 1:100. I feel this it is a privilege and a luxury to be able to have access to such high leverage as many brokers nowadays are facing leverage caps as a result of Eu regulatory bodies/ new policies. In light of the fact that CryptoRocket offer such lucrative conditions in particular for crypto trading, I feel that 1:100 is definitely an element that should be appreciated, as this can really assist in maximizing profits on winning positions.
What is the commission charge?
Of course, with CryptoRocket, there is only one account type, so you do not need to concern over which account has the lowest charges. The trade commission charges are in my eyes, average and also reasonable: $3 per lot, per trade (per side) so a total of $6 round turn. This is not at all eye-watering, and considered reasonable in comparison to what you could be charged by an alternative broker.
What do I need to open a verified account?
You need to provide a name, a valid email address and create a password; The fantastic thing about trading with CryptoRocket is that you DO NOT need to submit the usual proof of identification as well as a document proof of address and then have to wait around for the Compliance team to verify and approve your account. With CryptoRocket, you simply apply for an account, and since they support 100% anonymous trading (deposit and withdrawing via Bitcoin), verification therefore, is not actually required.
How long does it take to open a live account?
Literally… seconds. I was very impressed with the speed in which my account was set up. I simply ‘signed up’ with my name, my email, and created a password, and within seconds I received an email welcoming me to my account. From there, I simply needed to verify my email address via a link from the welcome email, and I was ready to log on to MT4 with my new credentials.
I would like to give credit to this broker for the pure simplicity of the registration process. Never before have I ever been able to get set up so fast, and so efficiently with past brokers. So for those that are looking for a straightforward and easy account set up process, you might want to consider this broker and check it out for yourself.
Do they have a minimum/maximum deposit requirement?
CryptoRocket does not actually have a minimum deposit requirement. I feel this is a very wise decision seeing that they only accept Bitcoin deposits; Bitcoin value can fluctuate rapidly, and its volatility would mean it could perhaps be unfair to request and expect a particular amount from clients. The fact there is no minimum deposit requirement eliminates any pressure on the client to deposit an amount that perhaps they are not comfortable with depositing, as a minimum, but instead, are free to deposit as much or little as they are willing to.
Are desktop/mobile/ web trader versions all available?
Yes, CryptoRocket have been very wise in ensuring that all traders, be that android-preferred, or mac preferred, are all able to trade with them, using the MT4 platform. All versions (desktop/mobile/ web trader) are compatible and available via CryptoRocket.
Which countries are restricted from trading with CryptoRocket?
This broker really deviates impressively from the others since their structure in place does not actually require documentation to prove residency, nor ID; since clients have the one option to deposit and withdraw to and from their account via Bitcoin, it appears that if Bitcoin handling and transferring is permitted in your country of residence, then you would also be eligible to trade with this broker.
What deposit and withdrawal methods are available?
Although it could be argued that the one method offered is limiting to some, I believe that proportion of traders is growing fewer as the digital era is pushing forward. Crypto Rocket allow you to both fund and then withdraw from your account via Bitcoin ONLY. I feel that even those that do not trade necessarily trade cryptocurrencies, more and more traders nowadays are making use of cryptocurrency wallets to fund their account as it is a simple process and also does not involve the bank and ridiculous timescales (especially when it comes to the withdrawal of funds). Additionally, most brokers offering Bitcoin as a deposit/withdrawal method often state that Bitcoin is among the fastest when it comes to receipt of funds, and likewise fast to fund the account.
Do they sell additional products/services/managed accounts?
I could not find anything on the website itself in regards to Signals, EAs, nor managed accounts. I checked the FAQ page also but could not find anything there either so I spoke with a live chat agent.
When I asked the live chat agent, it was only a couple of minutes before I received a response informing me that while they accept the use of Signals and EAs (third party) through MT4, they do not offer them as a separate service. CryptoRocket do not offer Managed accounts either.
The fact that this broker is straightforward with offering the trusted and long standing reliable MT4- which allows the use of third party software if desired- is nothing less than what I would expect from an honest broker. Therefore, the fact that you still have the option to integrate third party software means the broker is not swaying you by offering you products at an additional cost, resulting in likely gains for the broker.
Do they offer a deposit bonus scheme?
I could not see any information in regards to such schemes on the FAQ page, or anywhere else on the rest of the website. I asked the live chat team as well to double check they do not offer any bonus schemes and was informed the only ‘scheme’ they offer is that of an affiliate one.
Again, the absence of a bonus scheme instilled further confidence as this means the broker does not have an agenda to make obvious and easy profits from the client, through deceptive manipulation of luring the client into thinking they stand a higher chance of making substantial profit with the aid of a larger deposit, and thus, could be encouraged to continuously deposit large amounts of money.
If assistance is required, how can you get in touch?
CryptoRocket remain consistent and on par with my high expectations in offering 24/7 customer support; you may contact them via live chat only. Initially I was disappointed with just the one method of contact, but saying that, the efficiency and quality of customer support is not to be dismissed.
What is the quality of customer service?
I spoke to the live chat on a handful of occasions, since the majority of the answers to my questions pre-client and even once I registered, were actually already set out on the FAQ page. However, when I did opt to speak to a representative, I was nothing short of impressed with the service i received. I must commend the support team for being available within moments, 24 hours, 7 days a week. Secondly, the speed of response is highly competitive to the wait time I have endured from alternative brokers, who, on occasion, have left me to wait over 30 minutes for a response. This was not the case with CryptoRocket; each time I spoke with live chat, I was greeted in a pleasant and friendly manner, and within no more than 5 minutes. The agents provided me with relevant and informative answers, and not deviating away from my specific questions.
Do they offer an affiliate program?
CryptoRocket offer what they call a ‘Refer a Friend’ scheme whereby there is the opportunity to earn $5 per lot (round turn). This broker persistently demonstrates it’s simplicity and straightforwardness by not shrouding the affiliate scheme with over complicated details and instead, keeping it nothing other than simple, giving a wide majority of clients the opportunity to earn commission outside of their own trading.
What is my overall opinion of CryptoRocket?
My appreciation for this broker is definitely to be noted; this broker is one of the most minimalistic yet has diverse and innovative elements to it, making it incredibly attractive to many traders. Firstly, the trading conditions are more than agreeable with the high leverage and tight spreads across the more than average board of instruments offered. In addition, the customer support availability (24/7) along with the quality of service provided is by far one of the best i have experienced from a Forex broker.
I also like the anonymity with the Bitcoin funding and withdrawal method, meaning that this even affects the client sign up process whereby ID is not needed, thus, making the verification process instant so you can be trading live within moments, if you wish.
CryptoRocket is unique to any other broker I have researched or used, and overall, is now within my top recommendations; if you seek a simple, straightforward and easy broker to use, and you favor the option of using bitcoin to transfer to and from your account, then this broker could be ideal for you. Given my experience as a client, I would not hesitate to recommend this broker to anyone wanting to trade specifically Forex or Crypto, for example, as well as those wanting to dabble in a mixture of all offered. In particular, this broker is ideal for first time traders, as well as those experienced and specifically requiring amicable trade conditions and a straightforward trading experience.