A decision about investing in a reliable company is very important for any type of trader whether novice or experienced. The Internet boom has given birth to a myriad of possibilities. Our CryptoRocket review is meant to help traders to read and understand the possibility of a big risk if they have decided to trade with a CryptoRocket broker with the possibility of falling into a CryptoRocket scam.
On investigating online about CryptoRocket Review we found that there are many negative CryptoRocket reviews and complaints on different broking forums. This is a red flag, for CryptoRocket broker can be possible scam/fraud. Your investments/funds may not be secured if you are trading with this broker.
Website – https://cryptorocket.com/
Official Address – First Floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent and the Grenadines
Warned by regulating authority – Not Recommended By Review Website Like Scams Report
Regulation Status- None
CryptoRocket Review: Introduction
CryptoRocket Limited offers a wide range of instruments in cryptocurrencies (35), stocks (64), indices (11), metals (4), energies (3), and forex (55)(major, minor, and exotics) to trade in. They are mostly focused on cryptocurrency trading. To know more about the broker read our CryptoRocket review till the end.
CryptoRocket Review: Regulation Status
Their website claims it is a registered company in SVG but not a regulated broker. The company was founded in 2019. By the way, SVG does not issue permission for forex trading. CryptoRocket’s address is 1st floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent and the Grenadines (SVG). There are many who have the same address. Many of these companies/brokers are scammers. SVG, Marshall Islands, Cayman Island, and many Caribbean countries are famous for giving lenient registration/regulation.
CryptoRocket Review: Communication
According to CryptoRocket, anyone can contact them through live chat (available 24 x 7), by creating a support ticket or requesting a call (but no phone number is displayed on the website), or by email (email@example.com). The website is in English and Spanish.
CryptoRocket Review: Leverages
CryptoRocket offers different leverages for different assets. For crypto and energy the leverage is 1:100. For indices leverage is 1:200. For forex and metals the leverage is 1:500. For stocks leverage is 1:20. The leverage offered is very high for most of the assets.
CryptoRocket Review: Trading Platform
CryptoRocket offers MetaTrader4 as a trading platform. MT4 is compatible with desktops, laptops, mobiles, and tablets. MT4 is also iOS and Android friendly. CryptoRocket is an online ECN broker. CryptoRocket uses the STP (Straight Through Processing) model, thereby there is no dealing desk and your transaction are processed directly. In other words, your orders are put through at lightning speed. CryptoRocket is preparing for the MT5 platform and advertising it as coming soon.
CryptoRocket Review: Account Types
CryptoRocket offers only one account type i.e. Standard account. It also offers an Islamic account. They have a demo account too. Deposits are allowed through Bitcoin. You can also fund your account through cards (debit/credit) or wire transfers. There is no transaction fee. You can open an account for $0 but the commission is $6.
CryptoRocket Review: Affiliate Program
CryptoRocket has a referral or affiliate program. Whereby, referees or affiliates can earn extra money for branding, marketing, and onboarding new users. These earnings are paid out on monthly basis and can be used for further trading.
CryptoRocket Review: Countries Allowed To Trade-in
Since it is an online broker anyone from across the world can open an account with CryptoRocket. But citizens of a few countries are not allowed to open an account with CryptoRocket. They are the USA, Japan, Canada, Ecuador, Algeria, Cuba, the Islamic Republic of Iran, North Korea, Myanmar, and Iraq.
Why not deal with CryptoRocket?
- It is not regulated. Your capital is at risk and there is no compensation plan if the broker closes down its business or goes bankrupt. No one monitors the company’s activities, hence it is free to act of its own free will.
- The leverage is very high as compared to regulated brokers.
- The demo account and live account are extremely different.
- There is not much critical information available on the website, like the owner of the company, its key members, etc.
- Though the website proclaims withdrawal is fast, but actually withdrawal is not possible.
- SVG does not permit forex trading, but CryptoRocket allows forex trading.
- No, manage accounts.
- No daily market analysis.
In case you are a victim of the CryptoRocket scam?
In case you are a victim of a CryptoRocket scam, do let us know. We, at Scams Report, help you recover funds in a legal way. You can also get a free consultation if you fill online form and submit it.
We are one of the most transparent fund recovery companies in the world. We have a team of experts to look into the matter. The team has years of experience and expertise behind them for fund recovery. Report scams to the appropriate authority in your jurisdiction. We keep our client’s data private, and no data is leaked.
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