Rockfort Markets Review 2021

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Rockfort Markets Facts & Figures

Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.

InstrumentsCFD, Forex, Crypto, Stocks, Futures, Options
Demo AccountYes
Min. Deposit$200
Payment MethodsCredit Card, Debit Card, Mastercard, POLi, Visa, Wire Transfer
Min. Trade0.01 lots
Regulated ByFMA
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
STP AccountNo
ECN AccountNo
DMA AccountNo
Mobile AppsiOS & Android
Margin TradingNo
Auto TradingNo
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountYes
Account
Currencies
USD, NZD
CFD
Rockfort Markets clients can trade a range of CFDs with high leverage rates, covering crypto, forex, commodity and international equity markets.
FTSE Spread
GBPUSD Spread0.6
Oil SpreadVariable
Stocks SpreadVariable
Leverage1:500
Forex

Rockfort Markets offers competitive pricing on a wide range of major, minor and exotic currency pairs through MT4 and TWS.

GBPUSD Spread0.6
EURUSD Spread0.6
EURGBP Spread0.6
Assets50
Cryptocurrency

Rockfort Markets supports CFD trading with a range of cryptos gainst the USD through its MT4 accounts.

SpreadVariable
CoinsBTC, BCH, LTC, ETH, XRP
Risk Warning – Your capital is at risk

Rockfort Markets is a New Zealand based broker that offers trading opportunities on the MetaTrader 4 and Trader Workstation platforms. Offering a competitive range of securities and derivatives assets with leverage options and accounts geared towards both retail and professional traders, read this 2021 review to find out more about Rockfort Markets, including its fees, platforms and regulation status.

Rockfort Markets Headlines

Rockfort Markets Ltd. is a company registered in New Zealand and located at 22 Fanshawe Street, Auckland. In 2019, holding company Rockfort Holdings Limited acquired the New Zealand broker, GPP Markets Limited. This allowed the company to gain a foothold in the New Zealand market, as well as markets in Europe, Oceania and Asia. Rockfort Holding’s CEO is Sargon Elias.

Fees & Spreads

Spreads

Spreads are the difference between the quoted bid and offer prices and vary depending on the underlying asset you are trading on. Spreads are calculated based on prevailing market conditions and payable both when you enter a contract and when you close it. With forex pairs, spreads on the standard account are typically 0.9 – 1.4 pips for majors and 1.2 – 5.0 for minors. The pro account has average spreads of 0.6 for majors and 1.0 for minors.

Rollover Interest

If you hold a position overnight with Rockfort Markets, you may pay or receive rollover interest, also called swap charges. The rollover rate is calculated according to the duration of the period of rollover and the spread. This is payable at the end of each trading day.

Commissions

Commissions may be charged depending on your account type and the underlying asset. Standard accounts are not subject to commission charges as fees are incorporated into the spread. FX pairs for pro accounts start at $0.07 per micro-lot. North American shares will incur a commission fee of around $9.95 USD per trade or 2 cents per share, depending on lot size. Commissions are calculated as a percentage of the currency of the market in which you are trading. For example, if you are trading Australian CFD shares with a volume of 10,000,000 or less, you will be charged 7 AUD per trade or 0.10%

Deposit & Withdrawal Fees

Rockfort Markets provides three different methods for deposits. Transaction fees are displayed along with the payment method on the deposit page. For Visa/Mastercard this fee is 3%. Withdrawals can only be made using bank wire transfers. Withdrawals in New Zealand dollars to a New Zealand bank incur no fee. Withdrawals in other currencies or to overseas banks will incur a fee of $15.

Inactivity Fee

Rockfort Markets charges an inactivity fee of NZD 20.00 per month for any account that is inactive for more than six months and with an account balance below $100.

Please note that fees and spreads are based on prevailing market rates and may be subject to change. Check the Rockfort Markets website for up to date information on charges.

Trading Platforms

The firm offers trading services on two platforms: MT4 and Trader Workstation.

MetaTrader 4

MetaTrader 4 is one of the most popular and ubiquitous trading platforms around. The platform prides itself on its fast execution and deep liquidity. Clients on Rockfort Markets MT4 have access to over 50 forex and CFD instruments including precious metal, index and commodity CFDs.

Rockfort markets mt4 login for forex and cfd trading
MetaTrader 4 Trading Platform

The MT4 interface is highly intuitive and provides access to extensive technical analysis tools. There are 30 built-in technical indicators available and a wide range of charting tools, including lines, bars, candlesticks, Kaji and Heikin-Ashi. Clients can carry out chart analysis across multiple time frames, from one minute up to monthly data. MT4 also allows algorithmic trading, expert advisors (EA) can be used to automate trading 24 hours a day.

MT4 is available as a desktop application for Windows and Mac computers. If you would rather not download the programme, MT4 also functions as a WebTrader that runs on most modern browsers.

Trader Workstation

Trader Workstation (TWS) is a trading platform designed by Interactive Brokers. It allows Rockfort Markets clients to buy stocks, options, futures, bonds, forex and funds from a single account. TWS provides one of the largest range of products available on any platform. The multi-currency account gives access to over 30 international exchanges and more than 100 markets worldwide. TWS has an extensive range of direct market access (DMA) stock CFDs and access to the world’s most liquid exchange-traded funds (ETFs) listed on NYSE/ARCA, including SPY and TLT.

The platform also allows API and FIX Access, which means you can link a variety of third-party platforms such as Ninja Trader, Protrader and Multicharts. You can also link MT4 via an order bridge. In-built conversion tools allow you to convert funds in your multi-currency account at a lower rate than many other brokers.

rockfort markets ltd auckland, new zealand review reddit 2021
Trader Workstation Trading Platform
Rockfort Markets TWS also provides research and market scanning tools. The market scanner allows traders to sift through the markets based on a variety of fundamental or technical criteria. By looking for price points and setting up alerts, you can let Trader Workstation take over the tedious task of finding a market to trade on. You can stream news directly to your TWS platform from several well-renowned sources, including Dow Jones News Wires, Bloomberg and Reuters. An up-to-date events calendar will keep you well informed on economic news like earnings announcements and dividends.

Trader Workstation can be downloaded for free as a desktop application for Windows and Mac computers. It can also run directly on your browser without the need for downloads or installations.

Mobile App

MetaTrader 4 and Trader Workstation both offer free mobile versions of their platforms. A functional and powerful mobile app is essential for any trader interested in placing trades on the go, wherever they are.

MT4 App

rockfort markets demo account and deposit fees
MetaTrader 4 Mobile Platform

The Rockfort Markets MT4 app provides the same watchlists, charting, technical analysis and order execution available on the desktop application. You can access and analyse trading information 24 hours a day. The MT4 app is available for Android (APK) and Apple (iOS) devices from the relevant app stores.

TWS App

rockfort markets fma regulated broker
Trader Workstation Mobile Platform

The TWS app is well-developed and suitable for traders of most strategies. The app allows users to run scans, place orders and research strategies directly from their phone or mobile device. The app also supports futures, forex and ETF trading. It is available to download for Android (APK) and Apple (iOS) devices from the relevant app store.

Account Types

Rockfort Markets currently offers two account types for MetaTrader 4 and Trader Workstation: Standard and Pro. What follows is a breakdown of some of the major similarities and differences between the two.

Standard Account

Pro Account

Rockfort Markets also provides Islamic and increased leverage accounts on request.

Demo Account

You can open a free, 30-day demo account on the MetaTrader 4 platform. On the website, click on support and select “Open Demo Account” from the drop-down menu. You will need to fill in some personal details and then you can log in to MT4. This account replicates the live trading environment for trading currencies, commodities and indices and gives access to real-time spreads and execution speeds. If you wish to trade shares, options and futures risk-free on the TWS platform, you will need to open a live account and then request a paper trading facility.

Leverage

Regulatory bodies in Europe, the US, Canada and Japan have capped the maximum leverage allowed for retail traders well below 1:100. New Zealand is now one of the only countries in which regulated brokers can offer almost uncapped leverage limits. With Rockfort Markets, leverage is up to 1:500 on both Standard and Pro accounts. This may seem like a blessing to traders who use high leverage rates for their strategies or simply those who trade with low amounts of capital. However, leverage is a double-edged sword and can magnify loss as much as it can profit.

Payment Methods

Rockfort Markets offer three methods of depositing. Bank wire transfer (New Zealand and International Swift), credit/debit cards from Visa and Mastercard and POLi, which is an e-wallet available to clients in New Zealand only. Withdrawals are made via bank transfer by submitting a withdrawal request. Withdrawal requests will be typically processed on the same day or the next day if the request is made outside working hours. As mentioned, withdrawals to banks outside New Zealand will incur a fee of $15.

Customer Service

Rockfort Markets can be reached via telephone, email and live chat. The broker is also on social media sites like Facebook, Twitter, YouTube and LinkedIn. The office hours are 09:00 to 17:30 (NZST, GMT +13), Monday to Friday.

The broker also provides a trading assistant on Telegram. The Trader Assistant provides clients with personalised information such as key market news, technical indicators and trade ideas. When you set up a live account, you will also be provided with an account manager who will assist you with your trading.

Reviews of Rockfort Markets on sites like Reddit and Trustpilot are somewhat mixed. Many customers have had issues with withdrawals. Read the customer agreement thoroughly and make a comparison with other brokers before investing any real capital. If you encounter an issue, be sure to report it to the relevant body.

Security & Regulation

Rockfort Markets Limited is a registered company in New Zealand (NZBN 9429042010807). Rockfort Markets Ltd is a registered Financial Service Provider (FSP509766) and holds a Derivative Issuer Licence issued and regulated by the Financial Markets Authority (FMA).

The Financial Markets Authority is the government body responsible for financial regulation in New Zealand. The FMA sets and enforces financial regulations and regulates all financial market participants and exchanges.

Advantages

Drawbacks

Rockfort Markets Verdict

Overall, Rockfort Markets seems to offer a comprehensive range of instruments and features. Furthermore, as the broker is regulated in New Zealand, it is not subject to the same leverage caps as in Europe and North America. Traders in New Zealand will find the option to deposit and withdraw in NZD extremely practical. However, extra fees for withdrawals made to overseas bank accounts may be a turn-off for other investors worldwide.

FAQs

What Is Rockfort Markets?

Rockfort Markets, formerly known as GPP Markets Limited, is a New Zealand based broker that offers securities and derivatives trading services on the MetaTrader 4 and Trader Workstation platforms.

Is Rockfort Markets A Good Broker?

Rockfort Markets offers a wide range of products on two renowned platforms and has very high leverage options. While the standard account incurs no commission fees, more competitive spreads may be found elsewhere. Be sure to make a thorough comparison of the competition before investing any real capital.

What Fees Does Rockfort Markets Charge?

Rockfort Markets charges a range of fees that are subject to the prevailing market conditions. With FX and crypto pairs, a spread is charged. Other instruments incur a commission fee, calculated according to account type and the underlying asset. The firm also charges a 3% transaction fee for Visa/Mastercard deposits and a $15 fee for any withdrawals made to a bank outside New Zealand.

What Products Does Rockfort Markets Offer?

On MT4, Rockfort Markets clients have access to over 50 forex and CFD instruments including precious metal, index, and commodity CFDs. With the TWS platform, traders can also access physical shares, options and futures.

Is Rockfort Markets A Regulated Broker?

Rockfort Markets Ltd is a registered Financial Service Provider (FSP509766) and holds a Derivative Issuer Licence issued by the Financial Markets Authority.

Accepted Countries

Rockfort Markets accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Alternatives to Rockfort Markets

If you are looking for alternatives to Rockfort Markets we have compiled a list of the top 5 brokers that are similar to Rockfort Markets below. This list of brokers like Rockfort Markets is in order of similarity and only includes companies that accept traders from your location.

  1. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
  2. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
  3. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  4. Paxful – Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
  5. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.

Rockfort Markets vs Other Brokers

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