Rockfort Markets HeadlinesMarketsFeesTrading PlatformsMobile TradingAccount TypesDemo AccountLeverageDeposits & WithdrawalsCustomer ServiceSecurity & RegulationAdvantagesDrawbacksEducational ResourcesRockfort Markets VerdictAccepted CountriesAlternatives to Rockfort MarketsFAQ
Rockfort Markets is a New Zealand (Auckland) based broker that offers trading opportunities on the MetaTrader 4 and Trader Workstation platforms. Offering a competitive range of securities and derivatives assets with leverage options and accounts geared towards both retail and professional traders, read this 2022 review to find out more about Rockfort Markets, including its fees, platforms and regulation status.
Rockfort Markets Headlines
Rockfort Markets is a New Zealand based forex and CFD broker. The company was formerly operating under the business name of GPP Markets.
Regulated and licensed by New Zealand’s FSP, Rockfort Markets is run from its registered address at Level 2, 22 Fanshawe St., Auckland Central, Auckland 1010. The company’s business license is 9429042010807.
Rockfort Markets Ltd. offers CFD trading on various financial instruments ranging from spot forex to precious metals, indices, cryptos and equity indices.
Although relatively new, Rockfort Markets offers top notch services for its customers including a range of different banking methods for depositing and withdrawing funds.
Markets
Account holders can speculate on a range of popular financial markets:
Forex CFDs – Over 50 popular currency pairs are available including majors, minors and exotics.
Commodity CFDs – Users can take positions on precious metals, such as gold and silver, plus energies like Brent Crude Oil and WTI Crude Oil.
Index CFDs – Investors can trade on leading equity indices, including the ASX 200, FTSE 100, Euro Stoxx 50, S&P 500, plus the Dow Jones Industrials.
Crypto CFDs – Traders can speculate on leading cryptocurrencies alongside emerging tokens. Available coins include Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.
Fees
Rockfort Markets does not charge a commission but instead takes its profit from the spread.
Spreads
Spreads are the difference between the quoted bid and offer prices and vary depending on the underlying asset you are trading on.
Spreads are calculated based on prevailing market conditions and payable both when you enter a contract and when you close it. Spreads typically widen when trading exotic instruments.
With forex pairs, spreads on the standard account are typically 0.9 – 1.4 pips for majors and 1.2 – 5.0 for minors. The pro account has average spreads of 0.6 for majors and 1.0 for minors.
Rollover Interest
If you hold a position overnight with Rockfort Markets, you may pay or receive rollover interest, also called swap charges.
The rollover rate is calculated according to the duration of the period of rollover and the spread. This is payable at the end of each trading day. Click Market Watch and select the relevant symbol specification option to view the rollover rate.
Deposit & Withdrawal Fees
Rockfort Markets provides three different methods for deposits. Transaction fees are displayed along with the payment method on the deposit page. For Visa/Mastercard the deposit fee is 3%.
Withdrawals can only be made using bank wire transfers which incur a fixed charge. Withdrawals in New Zealand dollars to a New Zealand bank incur no fee. Withdrawals in other currencies or to overseas banks will incur a fee of $15.
Inactivity Fee
Rockfort Markets charges an inactivity fee of NZD 20.00 per month for any account that is inactive for more than six months and with an account balance below $100.
Please note that fees and spreads are based on prevailing market rates and may be subject to change. Check the Rockfort Markets website for up to date information on charges.
Trading Platforms
The firm offers trading services on two platforms: MT4 and Trader Workstation.
MetaTrader 4
MetaTrader 4 is one of the most popular and ubiquitous trading platforms around. The platform prides itself on its fast execution and deep liquidity. Clients on Rockfort Markets MT4 have access to over 50 forex and CFD instruments including precious metal, index and commodity CFDs.
MetaTrader 4 Trading Platform
The MT4 interface is highly intuitive and provides access to extensive technical analysis tools. There are 30 built-in technical indicators available and a wide range of charting tools, including lines, bars, candlesticks, Kaji and Heikin-Ashi.
Clients can carry out chart analysis across multiple time frames, from one minute up to monthly data. MT4 also allows algorithmic trading, expert advisors (EA) can be used to automate trading 24 hours a day.
The MT4 trading platform is available for Windows, Android and iOS platforms. Using a Windows virtual environment, you can also download MT4 on your Mac iOS.
Trader Workstation
Trader Workstation (TWS) is a trading platform designed by Interactive Brokers. It allows Rockfort Markets clients to trade equities, shares and multiple other financial instruments.
The multi-currency account gives access to over 30 international exchanges and more than 100 markets worldwide. A free demo account is also available for users looking to learn more about the trading terminal.
TWS has an extensive range of direct market access (DMA) stock CFDs and access to the world’s most liquid exchange-traded funds (ETFs) listed on NYSE/ARCA, including SPY and TLT.
The platform also allows API and FIX Access, which means you can link a variety of third-party platforms such as Ninja Trader, Protrader and Multicharts.
You can also link MT4 via an order bridge. In-built conversion tools allow you to convert funds in your multi-currency account at a lower rate than many other brokers.
Trader WorkstationRockfort Markets TWS also provides research and market scanning tools. The market scanner allows traders to sift through the markets based on a variety of fundamental or technical criteria.
By looking for price points and setting up alerts, you can let Trader Workstation take over the tedious task of finding a market to trade on.
You can stream news directly to your TWS platform from several well-renowned sources, including Dow Jones News Wires, Bloomberg and Reuters. An up-to-date events calendar will keep you well informed on economic news like earnings announcements and dividends.
Trader Workstation can be downloaded for free as a desktop application for Windows and Mac computers. It can also run directly on your browser without the need for downloads or installations.
Mobile Trading
MetaTrader 4 and Trader Workstation both offer free mobile versions of their platforms. A functional and powerful mobile app is essential for any trader interested in placing trades on the go, wherever they are.
MT4 App
MetaTrader 4 Mobile Platform
The Rockfort Markets MT4 app provides the same watchlists, charting, technical analysis and order execution available on the desktop application. You can access and analyse trading information 24 hours a day. The MT4 app is available for Android (APK) and Apple (iOS) devices from the relevant app stores.
TWS App
Trader Workstation Mobile Platform
The TWS app is well-developed and suitable for traders of most strategies. The app allows users to run scans, place orders and research strategies directly from their phone or mobile device.
The app also supports futures, forex and ETF trading. It is available to download for Android (APK) and Apple (iOS) devices from the relevant app store.
Account Types
Rockfort Markets currently offers one account type with a choice of either platform. The MT4 trading account offers over 50 CFD instruments while the Trade Workstation or TWS solution offers access to additional trading products.
New users can choose which trading platform they would like to use when signing up for a live account.
Demo Account
You can open a free, 30-day demo account on the MetaTrader 4 platform. On the website, click on support and select “Open Demo Account” from the drop-down menu.
You will need to fill in some personal details and then you can log in to MT4. This account replicates the live trading environment for trading currencies, commodities and indices and gives access to real-time spreads and execution speeds.
If you wish to trade shares, options and futures risk-free on the TWS platform, you will need to open a live account and then request a paper trading facility.
Leverage
Regulatory bodies in Europe, the US, Canada and Japan have capped the maximum leverage allowed for retail traders well below 1:100.
New Zealand is now one of the only countries in which regulated brokers can offer almost uncapped leverage limits. With Rockfort Markets, leverage is up to 1:500 on both Standard and Pro accounts.
This may seem like a blessing to traders who use high leverage rates for their strategies or simply those who trade with low amounts of capital. However, leverage is a double-edged sword and can magnify loss as much as it can profit.
Deposits & Withdrawals
Rockfort Markets offer several methods of depositing: Bank wire transfer (New Zealand and International Swift), credit/debit cards from Visa and Mastercard, plus POLi and BitWallet. POLi is suitable for traders from New Zealand only while BitWallet is a secure and fee-free option for international traders.
The minimum recommended deposit is $200 and you will need to note your MT4 or TWS trading account number at the funding stage.
For withdrawals, traders can use any of the methods listed above. Bank wire withdrawals in non-NZD denominations incur an additional fee of $20, which will be deducted from the withdrawn amount.
Withdrawals are usually processed the same day and can take up to five-business days, if not sooner when choosing bank wire transfers. Withdrawals via BitWallet will appear in your BitWallet account immediately.
Customer Service
Rockfort Markets can be reached via telephone, email, live chat and Facebook Messenger:
Phone: +64 9 281 202
Facebook Messenger: click here
Live Chat: Lower right corner of broker’s website
Email Address: info@rockfortmarkets.com
Office Address: Rockfort Markets Limited, PO Box 5382, Victoria Street West, Auckland, 1010, New Zealand
The broker also provides a trading assistant on Telegram. The Trader Assistant provides clients with personalised information such as key market news, technical indicators and trade ideas.
The customer support team are available 24 hours a day via any of the channels listed above.
When you set up a live account, you will also be provided with an account manager who will assist you with your trading.
Reviews of Rockfort Markets on sites like Reddit and Trustpilot are somewhat mixed. Many customers have had issues with withdrawals.
Read the customer agreement thoroughly and make a comparison with other brokers before investing any real capital. If you encounter an issue, be sure to report it to the relevant body.
Security & Regulation
Since Rockfort Markets Ltd. is based out of New Zealand, the forex brokerage operates as a licensed derivatives issuer. Its trading services fall under the Financial Markets Conduct Act with the FMA (Financial Markets Authority) under license number 509766. Rockfort Markets is also a member of the Financial Services Complaints Ltd. or FSCL for short. This is useful for any customer complaints.
The above licenses show the legality of Rockfort Markets and are a promising sign that the company isn’t running an online scam.
Although the company is based in New Zealand, its customer service and range of products are available for traders across the globe, with the exception of a few countries.
Advantages
STP/ECN trading
20% deposit bonus
Weekly chart analysis
Segregated client funds
MT4 trading platform
Leverage up to 1:500
Regulated in New Zealand
Fast deposits and withdrawals
Pro Account at just $2000 USD
Fast execution and deep liquidity
Dedicated account manager support
Drawbacks
Charges for withdrawals made outside New Zealand
Mixed reviews from customers
Limited payment methods
Educational Resources
Rockfort Markets offers a dedicated education section for traders. The learning hub contains trading guides, MT4 terminal tutorials, plus informative articles about the financial markets. These are all helpful for beginners.
For experienced investors, Rockfort Markets has partnered with Trading Central to support with advanced technical trading strategies. Note, access to the Trading Central area is available only for live account holders.
Rockfort Markets Verdict
Overall, Rockfort Markets offers a comprehensive range of instruments and features with no hidden fees. Furthermore, as the broker is regulated in New Zealand as a derivatives issuer, it is not subject to the same leverage caps as in Europe and North America.
Traders in New Zealand will find the option to deposit and withdraw in NZD extremely practical. However, extra fees for withdrawals made to overseas bank accounts may be a turn-off for other investors worldwide.
Accepted Countries
Rockfort Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Rockfort Markets from Iran, Korea, Laos, Sudan, Mozambique, Syria, Myanmar, China, United States.
Alternatives to Rockfort Markets
If you are looking for alternatives to Rockfort Markets we have compiled a list of the top 5 brokers that are similar to Rockfort Markets below. This list of brokers like Rockfort Markets is in order of similarity and only includes companies that accept traders from your location.
Just2Trade – Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.
TMGM – TMGM is a competitive Australian forex and CFD broker with a wide range of instruments, features and tools provided at low-cost
Hantec Markets – Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing flexibility to suit any trader.
Fortrade – Fortrade is a multi-asset broker offering a simple live account with advanced tools.
FXPro – Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
FAQ
What Is Rockfort Markets?
Rockfort Markets, formerly known as GPP Markets Limited, is a New Zealand based broker that offers securities and derivatives trading services on the MetaTrader 4 and Trader Workstation platforms.
Where Is Rockfort Markets Located?
Rockfort Markets is based in Auckland, New Zealand. It holds a business license (number 9429042010807) and is based off Level 2, 22 Fanshawe St., Auckland Central, Auckland 1010.
When Was Rockfort Markets Founded?
Rockfort Markets (formerly known as GPP Markets) obtained its FSM license in February 2018. It began its CFD brokerage operations in early 2019. As a New Zealand regulated forex broker, Rockfort Markets takes advantage of the strict regulatory environment and thus offers a strong line-up of CFD products for retail traders.
How Does Rockfort Markets Make Money?
Rockfort Markets charges a spread on a trade opened by the trader. The spread is the difference between the bid and ask price. The spread can differ depending on the financial instrument that you are trading. Overnight fees and inactivity charges also contribute to the broker’s earnings.
How Do I Deposit And Withdraw Money To And From My Rockfort Markets Account?
Traders can deposit and withdraw funds using Visa/Mastercard, POLI (New Zealand), Bank Wire Transfer, and BitWallet. A 3% transaction charge is applied to credit card deposits. For withdrawals, a $20 charge is applied for non-NZD currencies, such as AUD and USD.
Can I Trade On Margin With Rockfort Markets?
Yes – Rockfort Markets offers traders a standard leverage of 1:500.
In What Currency Can I Open A Trading Account With Rockfort Markets?
Traders have the choice of USD, NZD, AUD and JPY as the base currency. If you deposit funds in USD but choose your trading account in AUD or NZD, then the current exchange rate is applied for conversions.
Is Rockfort Markets A Regulated Broker?
Yes – Rockfort Markets is a legal and a legitimate forex broker, based in New Zealand. The company holds a derivatives issuer license with the FMA – number 509766. Rockfort Markets is also a member of the FSCL, which brings transparency when it comes to client complaints.
Are Client Funds Segregated At Rockfort Markets?
Rockfort Markets maintains all client deposits in a segregated account. This ensures that client capital is ring-fenced from the company’s daily operational expenses. Customer funds are held at the ANZ Bank in USD and NZD denominations. Once a customer makes a deposit to their Rockfort markets trading account, the funds are transferred to the segregated account.
Is Rockfort Markets A Good Broker?
Rockfort Markets offers a wide range of products on two renowned platforms and has high leverage options. While the standard account incurs no commission fees, more competitive spreads may be found elsewhere. Be sure to make a thorough comparison of the competition before investing any real capital.