Marketrocks Review: A User-Friendly Platform or a SCAM?

Marketrocks confidently claims that it will help you maximize your trading success. Isn’t it a wonder that in this day and age there are brokers who genuinely care about their clients? Not quite, we’ll answer. Because each of these overly friendly intermediaries could actually turn out to be a scam, and we’re here to prevent you from being deceived. So read the results of the investigation into this project in our review.

Marketrocks General Information

Registration and Client Portal Review

So, the Marketrocks website is a fairly typical example, which is abundant in the industry. Here we have the full package: photos of charts, happy traders, and even skyscrapers in the background. Overall, it all hints that trading with this broker will bring you success. However, there are a couple of drawbacks on the website. Firstly, it immediately catches our attention that only English language is available, indicating a limited audience for the company. Secondly, it’s the fact that it provides very little information about itself. Seriously, in the “About Us” section, you’ll find more fluff than water during the global flood, with no specifics about when Marketrocks was founded, who the people behind it are, and so on.

The registration process at Marketrocks is quite simple overall. You will need to fill out a small form providing your full name, personal details including date of birth and residential address, contacts, and create a password. It’s surprising that Marketrocks doesn’t verify your email or phone number initially. No confirmation codes are sent to them. However, the broker will later send you a lot of information via email. So, all this is quite strange and decreases the security of the account.

The Client Portal of Marketrocks provides a standard array of features commonly found in similar platforms. Users can access their account information, including balances, transaction history, and personal details. They can also make deposits and withdrawals, and create a trading account.

However, it’s worth noting that the client portal of Marketrocks lacks advanced functionalities that may be offered by other brokers. For example, there may be limited options for customization, lack of advanced tools, or absence of features like copy trading or social trading.

Marketrocks Trading Conditions

So, let’s take a look at how the broker plans to help us maximize profit. It’s interesting to see if they can offer competitive trading conditions.

Account Types Review

Marketrocks offers a variety of real trading accounts to cater to different types of traders.

• Mini. This account type requires a minimum deposit of $250. Traders will benefit from leverage up to 1:400 and spreads starting from 3 pips. Additionally, they will have access to the Profi Trader Education Center for learning resources and price alerts to stay updated on market movements.
• Advanced. With a minimum deposit of $2,500, traders will receive personalized support from an account manager and a customized trading strategy tailored to their needs. The leverage remains at 1:400.
• Executive. For traders willing to deposit $25,000, this account offers an array of additional services. While specific details about spreads and leverage are not disclosed, traders can expect benefits such as a Personal Portfolio, Exclusive Daily Market Analysis, and access to research tools. Moreover, they gain access to trading all available assets on the platform.
• Prime. This account type introduces hedging capabilities, allowing traders to mitigate risks more effectively. However, it requires a substantial deposit of $100,000. However, the hedging feature is a standard offering among most reputable brokers and is typically available even with lower deposit amounts. What’s wrong with this project?
• The VIP Account is the pinnacle offering from Marketrocks, requiring a significant deposit of $250,000. In addition to all the features of the previous accounts, traders benefit from protection against negative balances. This feature should be fundamental for any reputable forex broker and is usually available even on cent accounts.

Trading Platform

To gain access to the Marketrocks trading platform, you will first need to create a trading account. This process is relatively straightforward and can be done through the client portal. However, it’s worth noting that your login credentials, including your username and password, will be sent to your email address.

Entrusting your login credentials to a broker poses significant security risks. If the broker’s systems are compromised or if there are internal security breaches, your account could be vulnerable to unauthorized access and potential loss of funds.

One more aspect that we disapprove of is the absence of a demo account. A demo account allows traders to assess whether the trading platform meets their needs and preferences before committing real funds. Without this opportunity for trial and evaluation, traders may find themselves dissatisfied with the platform’s functionality or interface after making a deposit.

Marketrocks — Deposit and Withdrawal of Funds

By the way, the account requirements state that the minimum deposit is $250. This is clearly not the case. Marketrocks offers to fund your account with a minimum of $90. However, it’s unclear whether this will open a real trading account for you or if the deposit will simply vanish. Moreover, funding can only be done via credit cards.

As for withdrawal methods, they will depend on the country of your residence. In some countries, all three methods — cards, bank transfers, and cryptocurrency — are available, while in others, there are fewer options. Thus, the withdrawal process becomes entirely personalized.

Verification

Certainly, Marketrocks requires clients to undergo verification. After registration, clients are asked to submit various documents for verification purposes. These documents include a government-issued ID (such as a passport or driver’s license), proof of address (such as a utility bill or bank statement), and possibly additional documents depending on the jurisdiction and regulatory requirements.

Then the documents are submitted, Marketrocks’ compliance team reviews them to ensure that they meet the necessary requirements. This process may take some time, depending on the volume of applications and the complexity of the verification checks.

Additional Options

As we have seen, Marketrocks offers some additional services. We’re not talking about hedging or protection against negative balance, which, as we’ve emphasized, should be standard for any reputable broker and provided free of charge. We’re referring to various extras like market analysis and research. Here’s the thing: firstly, as we’ve mentioned earlier, the client portal hardly provides any information on additional services. Secondly, it’s unclear why these services are reserved only for privileged traders with substantial deposits. Thirdly, who is actually involved in providing these services? There isn’t a single example of a forecast or webinar available publicly! Who are the individuals tasked with educating and advising you? Do they have the necessary qualifications or credentials? These are critical questions that remain unanswered.

Is Marketrocks a Scam?

Let’s finally turn to what interests us most, namely security and legitimacy. Now we will see what lies behind all these assurances of reliability and transparency.

Legal Information and License

So, Marketrocks claims to be registered in Saint Lucia. However, investor protection laws in offshore jurisdictions may be weaker, leaving clients vulnerable to financial misconduct or malpractice. Also, resolving legal disputes or seeking recourse against companies registered in Saint Lucia can be more challenging and costly due to differences in legal systems and limited access to regulatory authorities.

Gold Coast Advisors, which Marketrocks identifies as its managing company, is indeed registered in Saint Lucia. However, it has not obtained a license. We also have some questions about the brand name. Doesn’t it seem to you that they have nothing in common? In reality, the broker simply randomly selected a company from the registry and is trying to pass itself off as it? Well, let’s not jump to conclusions. It’s enough that they don’t have a license.

Marketrocks.com Domain Info

Marketrocks certainly doesn’t reveal much about itself, including its corporate history. Well, that’s not surprising. They probably have nothing impressive to boast about. You see, the domain of this project was created in September 2023. That means it has only been operational for a few months. Of course, what can you really tell clients when you’ve just launched?

Contacts Review

For communication, Marketrocks certainly provides a full set. There’s a phone number, an email, and even an address. However, as we’ve already figured out, it’s offshore and nominal. So, the broker definitely doesn’t have an office.

Pros and Cons

2.9 TOTAL SCORE

Marketrocks Summary

Marketrocks appears to be a typical offshore project that has chosen not to obtain a license, raising concerns about its legitimacy and regulatory compliance. Furthermore, the trading conditions are not particularly favorable, with high minimum deposit requirements and limited transparency regarding fees and charges. Therefore, individuals should carefully consider whether it is worth investing their time and resources in this broker, as there may be better alternatives available that offer greater security and more favorable options.

---

Website information content 3

Client Portal 4

Trading conditions 2

Trading platform 4

Deposit and withdrawal 4

Verification 4

Extra options 3

Licenses and guarantees 1

Work duration 1

Feedback 3

Frequently Asked Questions (FAQ)