Rockfort Markets (rockfortmarkets.com) Review - legit or scam?

Rockfort Markets is a New Zealand-based forex and CFD broker that also offers physical shares and options through a partnership with Interactive Brokers. The local Financial Markets Authority has licensed and authorized Rockfort Markets, formerly known as GPP Markets. You can read our review for more information on their offer.

Trading Account Types

Mini Account

Min. Deposit: $500

Max. Leverage: 1:400

Spread: 1,5 pips

Standard Account

Min. Deposit: $1

Max. Leverage: 1:400

Spread: 1,1 pips

Pro Account

Min. Deposit: $20 000

Max. Leverage: 1:400

Spread: 0,6 pip plus $7/lot

Advantages of Rockfort Markets:

In New Zealand, it is licensed and authorized.

Since regulators in Europe, the United States, Canada, and Japan limited the maximum leverage allowed for retail traders to well below 1:100, New Zealand and Australia have remained the only major and dependable regulatory hubs where brokers can still offer their clients virtually unlimited leverage.

And it is precisely for this reason that a New Zealand license is so appealing – it provides traders with the assurance that they are dealing with a reputable broker while also providing the brokers with operational flexibility and the ability to offer higher leverage.

Rockfort Markets is owned and operated by Rockfort Markets Ltd, a registered Financial Service Provider (FSP509766) with a Derivative Issuer License issued by New Zealand's Financial Markets Authority (FMA). Rockfort Markets Ltd was formerly known as GPP Markets Ltd, as previously stated – the company officially changed its name on July 18th.

Rockfort Markets is also a member of Financial Services Complaints Limited (FSCL), an approved dispute resolution scheme under the Financial Service Providers (Registration and Dispute Resolution) Act, which was passed in 2008.

In general, the FMA requirements are similar to those implemented in Europe by institutions such as the Financial Conduct Authority (FCA) in the United Kingdom or the Cyprus Securities and Exchange Commission (CySEC). The minimum operational capital required by FMA for each of its brokers at all times is one million USD, which is comparable to the one required in Europe – 730 000 EUR.

A wide range of trading instruments, including options and stocks, is available.

Rockfort Markets offers 56 currency pairs across all major markets on its MetaTrader4 platform, many of which are minor or exotic, such as USDZAR, USDTRY, USDSEK, USDRUB, USDPLN, USDNOK, USDMXN, USD ILS, USDHUF, USDDKK, USDCZK, USDCNH, USDSGD, and USDHKD. In addition, the broker provides CFDs on precious metals such as silver and gold, as well as Brent, Crude Oil, and 11 indices.

Furthermore, over 1000 physical shares from over 36 exchanges worldwide, as well as options and futures on global indices and commodities, are available on the Trader Workstation Platform. Those instruments, however, have some trading fees, whereas trading CFDs on the MT4 only requires you to pay the spreads.

The Trader Workstation Platform also offers CFDs on stocks and indices.

Leverage ratios as high as 1:400 are possible.

We've already mentioned the leverage advantage you have when trading with New Zealand and Australian brokers. You can get leverage as high as 1:400 with Rockfort Markets, but you should use it with caution because higher leverage always comes with higher risk. Aside from here, you can also look at our list of Australian-regulated brokers:

Spreads are too narrow.

Rockfort Markets' standard account offers spreads starting at about 1 pip, which is certainly appealing, especially since there is no trading commission. Still, you can look at our list of brokers with tighter spreads here:

You can begin trading with as little as one USD.

Rockfort Markets does not have a minimum deposit requirement for their Standard Account, which is consistent with market best practices. Some popular brokers, such as FBS and IG, do not have a minimum deposit requirement.

You can open a trading account with Rockfort Markets in NZD and USD.

There is a choice between the MetaTrader4 platform and the Trader Workstation.

Trader Workstation is an Interactive Brokers trading platform that allows traders to buy stocks, options, futures, forex, bonds, and funds on a variety of markets around the world from a single account.

MetaTrader4 is the most popular trading platform on the market, with numerous market indicators and trading robots that can be used to easily run algorithmic trading sessions. In addition, you can find a list of brokers who support the MT4 here:

Disadvantages of Rockfort Markets:

Skrill and Neteller e-wallets are not available.

Rockfort Markets accepts wire transfers, credit and debit cards such as VISA and MasterCard, and POLi, a New Zealand-only electronic payment system.

However, some popular e-wallets, such as Neteller and Skrill, are not supported.

Withdrawals in New Zealand dollars to a New Zealand bank are free, whereas withdrawals to other currencies or overseas banks are subject to a fee of $15 per transaction.

Conclusion:

Rockfort Markets is a reputable New Zealand broker that offers physical shares and options on the Trader Workstation platform, in addition to the various CFDs and currency pairs that can be traded with leverage up to 1:400 on the well-known MetaTrader4 platform.

Frequently Asked Questions

What Exactly Is Rockfort Markets？

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

Where Can I Find Rockfort Markets？

The headquarters of Rockfort Markets are in Auckland, New Zealand. It is registered as a business (9429042010807) and is located on Level 2, 22 Fanshawe St., Auckland Central, Auckland 1010.

When were Rockfort Markets established？

Rockfort Markets (previously GPP Markets) received its FSM license in February 2018. In early 2019, it launched its CFD brokerage operations. Rockfort Markets, as a New Zealand-regulated forex broker, benefits from the strict regulatory environment and thus provides a strong line-up of CFD products for retail traders.

Rockfort Markets makes money in a variety of ways.

On a trade opened by the trader, Rockfort Markets charges a spread. The spread is the difference in price between the bid and ask. The spread varies depending on the financial instrument being traded. Overnight fees and inactivity charges are also deducted from the broker's earnings.

How Do I Make Deposits and Withdrawals From My Rockfort Markets Account？

Traders can use Visa/Mastercard, POLI (New Zealand), Bank Wire Transfer, and BitWallet to deposit and withdraw funds. Credit card deposits are subject to a 3% transaction fee. Withdrawals in non-NZD currencies, such as AUD and USD, are subject to a $20 fee.

Is it possible to trade on margin with Rockfort Markets？

Yes, Rockfort Markets provides standard leverage of 1:500 to traders.

Can I Open A Trading Account With Rockfort Markets in Which Currency？

Traders can select USD, NZD, AUD, or JPY as their base currency. If you deposit funds in USD but choose an AUD or NZD trading account, the current exchange rate is used for conversions.

Is Rockfort Markets a licensed broker？

Yes, Rockfort Markets, based in New Zealand, is a legal and legitimate forex broker. The FMA has issued the company a derivatives issuer license (number 509766). Rockfort Markets is also a member of the FSCL, which ensures that client complaints are handled transparently.

Rockfort Markets segregates client funds.

All client deposits are held in a separate account at Rockfort Markets. This protects client capital from the company's day-to-day operational expenses. ANZ Bank holds customer funds in USD and NZD denominations. When a customer deposits money into their Rockfort markets trading account, the money is transferred to a segregated account.

Is Rockfort Markets a Reliable Broker？

Rockfort Markets has a diverse product offering on two well-known platforms, as well as high leverage options. While there are no commission fees on the standard account, more competitive spreads may be found elsewhere. Before investing any real money, make a thorough comparison of the competition.