CryptoRocket is a Crypto, Forex & CFD broker that is new in this industry, since they exist from 2019. They are headquartered in Saint Vincent and the Grenadines and the company that stands behind this broker is CryptoRocket Limited.
As the name itself says, their prime focus is cryptocurrencies. They have 55 cryptocurrency trading pairs and 64 stocks in their portfolio. I cannot say this is the best selection I have ever seen, but since they were established just a year ago, it is a good start.
Once you enter their website, certain claims might attract you at first glance. Apparently, they are awarded two times this year for the best cryptocurrency broker. Aside from that, they have been featured on Forbes, Entrepreneur, AmericanExpress, IBM and Medium. That sounds amazing, but it doesn’t change the fact that CryptoRocket is an unregulated broker. That said, if you run into any problem while trading, there is no legal authority you can contact and make a complaint. So, let’s see what they offer to clients to compensate for the licence.
Platform and Execution SCORE: 80%
Each CryptoRocket client can enjoy the popular MT4 trading platform with full features. You can use the web version, or download on a computer (compatible with Windows, Mac, and Linux) or mobile device (Android, iPhone and iPad).
Within the platform, you will find a lot of useful features and tools. Built-in analytical tools, trading signals, copy trading, quick trading, free code base with technical indicators and automated trading as well. If you choose the web trader, you won’t have to worry about loading speed. They optimised it very well, so it looks like we are starting this review with positive things.
Withdrawal Speed SCORE: 60%
Although CryptoRocket has to offer many great things, they failed to provide a good selection of withdrawal methods. The only way to withdraw funds is via Bitcoin, but you can choose the desired currency (BITs, EUR, USD, and GBP).
The withdrawal process is fast. You can expect money on your account within an hour, depending on blockchain traffic. But the problem is they never specified how much time they need to approve the request. This process usually takes up to two business days, but since they never mention that, we can only guess. I have to give them a big minus for that, because each trader needs to have necessary information like this before they open an account.
Support and Assistance SCORE: 90%
If you wish to contact their customer representatives, there are three ways to do that. You can send them a message using Live Chat (available 24 hours, 7 days a week), create a Support Ticket and one of CryptoRocket agents will reach out to you via email or you can request a call.
The interesting thing is that you cannot call them. If you go to their contact section, you can fill in an online form and mark the time that suits you the most. A support agent will call you then. Actually, I really like how they came up with that solution. Of course, I wanted to see whether they are as effective as they claim to be. I decided to use the Live Chat option, and one of their agents replied within a minute. They also offer two languages for communication, English and Spanish. That said, they showed flawless service when it comes to support and assistance and I appreciate that.
Education and Tools SCORE: 80%
Unlike spotless customer service, the education part has room for improvement. When it comes to Forex trading, education is a necessity. Each trader needs to understand the basics, stay informed and continuously upgrade knowledge with guides that the broker provides.
If you decide to open an account with CryptoRocket, you won’t have handy books at disposal. They do have a News section, but it is not regularly updated so you won’t have much use of it. On the other hand, they provide clients with trading guides. Don’t expect to learn new things and gain trading knowledge after reading. Those are just some explanations on how to deposit or withdraw on CryptoRocket website, but they can save you a lot of time since we are talking about step by step guides.
While we are discussing the education section, I need to mention their Demo account. If you register at CryptoRocket, there is a possibility to open an account just for practice. And the best thing of all, it is completely free. You don’t have to make an initial deposit, just choose whether you want to use a web trader or download and install CryptoRocket MT4 trading platform. It’s a good thing they offer the possibility to practise and gain some experience for free.
When it comes to summarising pros and cons, I found myself in a difficult position. Yes, they have great customer service and offer fast withdrawals, but still, they do not hold any licence. On the other hand, they compensate for that with competitive offers such as no minimum deposit amount, you can deposit $1 if you wish.
The bottom line is that we can advise you to choose CryptoRocket only if you put special offers over security. But if safety is what concerns you the most, then you should continue your search and find a broker that is regulated.