Rocketchart-Overview of Spreads, Commissions, Leverage

GENERAL INFORMATION

Rocketchart.de adamantly asserts that it is completely authorized and governed, however that is just outright false. In fact, the broker deliberately presents itself as legitimate when it is not in order to mislead customers. Actually, Seventh Line Corporation LTD, a company established in the shady Marshall Islands, which lacks even a financial regulator, is said to be the owner of Rocketchart.de. Your money will be at risk if you deposit at Rocketchart.de since, as you might have guessed, it is not at all regulated.

Dealing with unregulated businesses like Rocketchart.de is risky for a number of reasons; we'll list the most important ones below. The first thing to keep in mind is that because there is no regulation, the brokers' managers are not held accountable and there is no authority to ensure your money is kept secure. Additionally, the Marshall Islands is a dubious tax haven nation that permits the establishment of secretive international business companies. As a result, after you deposit, you won't even know to whom you are transferring money, and if the brokerage vanishes overnight, those responsible for the clients' losses will escape punishment.

Additionally, if you deposit with offshore brokers, your money leaves the nation where it is located, making chargeback possibilities extremely restricted and making it nearly hard to trace down the cash. A corporation managed by unidentified individuals who are not held accountable are sending your money to a nation where it essentially vanishes, which makes an unregulated offshore broker the ideal setting for a fraud. It's forbidden to deposit with brokers based overseas.

Because of this, we only suggest properly licensed brokers that abide by the law and provide their clients more security. For instance, in order to get their licenses, brokers must fulfill a number of standards and abide by a number of consumer protection laws, such as account segregation. According to the latter, brokers keep deposits in separate bank accounts, making it extremely unlikely that they would be misused or misappropriated. This has several advantages, including accountability, transparency, security, quick withdrawals, and ease of chargebacks. Above importantly, because the money is kept separate from the accounts of the bankrupt firm, if a brokerage runs into problems, investors won't lose their deposits.

Rocketchart TRADING SOFTWARE

Rocketchart.de provides an advanced platform for real- MetaTrader4, which happens to be highly acclaimed by season traders and investors for its sophisticated features like Expert Advisors, reliable indicators and easy-to-use charting tools.

SPREAD

The trading costs provided by the distribution are also good; with a EUR/USD spread of 1.5 pips, clients pay $15 per traded lot (the industry average is $10 on average). However, as has already been mentioned, Rocketchart.de is likely a fraud that should be avoided.

LEVERAGES

The leverage can get up to 1:300– a ratio that‘s too risky and no longer allowed in many jurisdictions worldwide due to the restrictions imposed by regulators: 1:30 in the EU, UK and Australia and 1:50 in the US and Canada. The 1:300 ratio by itself proves that Rocketchart.de can’t in any way be fully licensed by a trustworthy regulator.

MINIMUM DEPOSIT

Due to some technical difficulties, we were unable to register, thus we are unable to confirm the real financing methods. The minimum deposit is supposedly $250 and may be made through credit/debit cards and wire transfers. In any case, the broker's already low trustworthiness is further undermined by the registration failure.

MINIMUM WITHDRWAL

Withdrawals are reportedly free with a $50 minimum using credit or debit cards. However, because there is a minimum trading volume requirement that customers must meet—a fourth of the bonus amount in terms of lots—the incentive policy adversely impacts the withdrawal requirements. In other words, if you receive a 100 USD bonus, you must trade 25 lots with a total turnover of 2 500 000 USD before you may request a withdrawal. Nevertheless, it's excessive.