CryptoRocket Review: Crypto CFD Trading with Up to 1:500 Leverage Nicholas Say on October 28, 2019 / 0 Comments Views: 1,205 Facebook
CryptoRocket has an interesting trading platform that brings the world of FOREX and CFD trading to crypto users.Unlike traditional Contract for Difference (CFD) brokers, CryptoRocket is based in BTC, and offers crypto users access to global macro trading with leverage up to 1,500x.
For token holders that want to trade in markets that aren’t generally offered by crypto exchanges, CryptoRocket is a very interesting trading platform.In addition to offering access to CFDs on shares, commodities, and FOREX it uses the industry-standard MT4 trading platform to execute trades.
Using a standard platform like MT4 carries some big advantages, like loads of built-in functionality, and the ability to use pre-built tools which are made specifically for MT4.The trading platform has features like limit orders and trailing stops built-in, and there are numerous automated trading programs that are made specifically for it.CryptoRocket is a Different Kind of Exchange Contents 5 Is CryptoRocket the Right Exchange for You?
CryptoRocket is bringing some useful innovations to the crypto world, and traders may want to learn more about how it could expand their access to global markets.CryptoRocket also offers demo accounts, so that new traders can learn more about leveraged trading before they risk actual BTC on trades.
Most crypto exchanges only deal with tokens.Some offer more token pairs than others, but trading in things like the S&P 500 or Apple shares simply isn’t possible.
There are loads of CFD brokers out there who have countless products that cover most macro markets, but they seldom accept cryptos as a form of deposit.
CryptoRocket is merging these two worlds, and offering its clients 1,500x leverage in some markets.
This means that if you have $100 worth of BTC, you would be able to trade with $150,000 worth of assets.It is also easy to open an account with the broker, as they don’t deal directly with fiat currency.
Like any CFD broker, CryptoRocket allows its clients to trade derivatives that represent the value of underlying assets.
The broker says that it uses STP (Straight Through Processing) on its exchange, which would mean that traders aren’t trading against CryptoRocket.What Are CFDs Again?
A CFD, or Contract for Difference, is a derivative contract that represents the market value of another asset.
For example, if you wanted to gain exposure to the value of the Euro versus the US Dollar, a CFD is an easy way to either speculate or hedge that currency pair.
CFD brokers like CryptoRocket offer a wide range of CFD contracts that allow traders to take on positions in multiple markets from the same account.Crypto exchanges are generally limited to tokens, which means that trading in other markets will require more than one account.
With CryptoRocket, you can deposit BTC in your CryptoRocket account, and start trading in cryptos, FOREX, shares, indices, and many other asset classes.How Does CryptoRocket Work?
CryptoRocket is easy to sign up for and use.If you want to start trading with the platform, just go to the CryptoRocket website , and click on the ‘Sign Up’ button.
Once you enter some basic information about yourself and provide an email address, you will be able to deposit BTC and start trading.
There is no minimum deposit, and the minimum withdrawal is 0.001 BTC.
There are no fees to deposit or withdraw funds, and the amount of time to make transactions should be less than 24 hours.
Past the account set-up and deposit, CryptoRocket works along the lines of any other established CFD broker.The MT4 platform makes trading a lot easier, and learning about other trading fees can be done easily via the trading platform.
MT4 Makes a Lot of Sense
While the world of crypto CFD trading is fairly new, retail CFD trading platforms have been around for more than two decades.The industry is based around the MT4 and MT5 platforms, with MT4 being the most preferred due to the wide range of third-party tools that are built for it.
CryptoRocket offers trading with MT4 or a web platform that has most of the basic tools that MT4 offers.
It is probably wise to download a free copy of MT4 if you decide to trade with CryptoRocket, as it gives you a lot of features that other services sell at a premium.MT4 Advantages
MT4 was purpose-built for professional traders.It has numerous features that make trading easy, and CryptoRocket allows its clients to leverage more than 20 years of development on the platform to their advantage.While MT4 may not be the best tool for High-Frequency Traders (billions are spent to develop HFT platforms) it does offer one of the best sets of trading tools out there.
Order Types
Not only does MT4 offer numerous kinds of limit orders (stop loss/take profit), it also comes with trailing stop-loss orders as a standard feature.
Using limit orders is necessary when trading with leverage, as the risk of loss increases with the amount of leverage that is used.
When you open a trade with MT4, you will be able to set your stop loss and take profit levels.
You can also elect to use a trailing stop, which will lock in your profits once the trade passes a specified amount of gain.
Controlling risk and locking in profits is vital to trading successfully, and MT4 makes those tasks a lot easier.MT4 also makes it simple to learn about the swap rates that you will have to pay on your positions, which are detailed in the contract specifications section of every asset that you can trade.
Third-Party Tools
Automated trading platforms can cost quite a bit of money.Many of the trading bots require you to subscribe and pay monthly for its services.
There are MT4 bots that can be purchased outright, and some even automate your trading for free.
CryptoRocket allows the use of automated trading programs, so you can deploy just about anything you want on your MT4 trading platform.In addition to automated trading tools, there are loads of third-party trading assistants that are made especially for the MT4 platform.
The number of trading tools that are made especially for MT4 are so great that the CFD industry has actually had a hard time convincing traders to switch from MT4 to the more modern MT5.
Of course, all of these tools should work on the free MT4 platform that CryptoRocket gives its clients.CryptoRocket Covers Macro Trading Tools
Being able to access most of the world’s largest asset markets from a single account is great.That is exactly what CryptoRocket allows its clients to do.Unlike many traditional CFD brokers, CryptoRocket has a wide range of token pairs that can be traded as well.Tokens
CryptoRocket clients can trade more than 30 token pairs at the time of writing.
The token pars that can be traded on CryptoRocket include: BTC/USD .
