Rockfort Markets is a trade name of Rockfort Markets Ltd (formerly known as GPP Markets), a New Zealand forex brokerage company licensed and regulated by the Financial Markets Authority (FMA).
Customers can invest in a wide range of global assets that are divided into Forex, Futures (indices, T-Notes, T-Bonds and Commodities are included here), Shares, Options and ETFs. Being regulated by the FMA, Rockfort Markets offers leverage up to 1:400 for currency pairs. For comparison, the European Securities and Markets Authority (ESMA) requires all EU-regulated brokers to maintain the leverage of major currency pairs of 1:30. Thus, brokerage companies regulated in Australia and New Zealand are still able to offer almost unlimited leverage.
Clients can trade through the Metatrader 4 (MT4) terminal – one of the most popular trading platforms in the world. It has a user-friendly interface, amazing charting tools and built-in algorithmic trading with expert advisors (EAs). There are over 50 currency pairs available in the MT4 platform and the average spread of the EUR/USD pair is 1.2 pips. In addition, commodities and indices can be traded here as well. MT4 can be used as a desktop application for PC or Mac, or as a mobile app for iOS and Android smartphones. Another option for trading is through the Trader Workstation (TWS). This terminal provides the largest range of products using Direct Market Access (DMA) to asset prices including over 60 currency pairs. Trading through the TWS platform is done by a Straight Through Processing model of order execution. There are more useful tools built-into this platform including market scanners, streaming news and an event calendar.
There are three types of accounts suitable for a wide range of traders. The Mini account requires a minimum deposit amount of USD500 and offers a spread for the EUR/USD pair within 1.5-2.0 pips. The next account is called Standard. There is no minimum deposit requirement and the average spread of the EUR/USD pair is 1.2 pips. Experienced traders can open a PRO account with a minimum deposit amount of USD20,000. Traders are required to make a volume of at least 50 million a month and will be charged by USD7 per traded lot. In return the spread of the EUR/USD pair is within 0,6-1.1 pips. The PRO account is the only way to trade with the DMA pricing model. In addition, Rockfort Markets provides а so-called Islamic account without swap rates. The leverage can be increased upon request.
Customers can deposit via debit/credit card, bank transfer and Poli e-wallet provider.
Let us look at the legal documents provided by the website. A clause in the ‘Risk management’ document explains that slippage is a normal phenomenon and the only way to avoid slippage is trading while the market is not volatile. So, this is a condition that cannot always be met, and though rarely, be prepared orders to be filled at a different price. In addition, stop loss orders may not be accepted or may be executed at a different price, so they are not guaranteed. Moreover, we found there is no negative balance protection. It is written that losses arising from price fluctuations in OTC transactions may exceed the client’s initial investment and margin deposit. In addition, Rockfort Markets acts as counterparty in all positions opened by clients and this leads to a conflict with the client’s interest. Being a market maker is not so bad, especially when the company is strictly regulated.
In conclusion, if you want to trade in a strictly regulated brokerage company offering leverage up to 1:500, Rockfort Markets could be your right choice. You can do this through one of the most popular trading terminals – MetaTrader 4, by choosing instruments with a reasonable spread.