Marketrocks Review | A reliable and user-friendly platform or scam?

If you’ve come across a Marketrocks review, you were probably looking for information about this company, trying to find out whether you can trust it with your money or whether it would be better to find another broker for CFD trading. Essentially, you can start looking for another firm, as this is just a typical scammer in the forex industry, but if you also want to know why, I suggest you stay for a few minutes and receive a vast amount of facts proving illegal activity.

Highlights

First Impression of Marketrocks.com

I’ll start the exposé with the official website. It’s no secret that a website serves as the face of a company, hence it must be not only aesthetically pleasing but also maximally useful for the visitor. It should disclose all the key information about the trading conditions and the firm’s activities.

Marketrocks created a fairly attractive resource, but using clichéd images of stock quotes and people in suits taken from the internet. The site’s structure is indistinguishable from its counterparts: at the top, there is a panel with several sections, as well as buttons for login and registration; the main page with its meaningless advantages and pseudo-merits; and a footer with contact details, legal address, and a warning about the risks of margin trading.

Motivational phrases are everywhere, and they make one want to vomit, for they are used by every other pseudo-broker. The text quality is also low. In the “about us” section, where I would like to see information about when the company was founded, who its leaders are, what business model it uses, and whether the platform is regulated, there is nothing. Key business information is simply missing.

Partnership and Bonuses

An affiliate program is an important element of any brokerage company, but it is unclear whether such an option is offered here or not. There is no information about the affiliate program, although any legitimate firm would always discuss this and specify its terms. However, I can tell you in advance that there is indeed a referral program here, which can only be discovered at the stage of opening an account.

Bonuses are not mentioned anywhere. Even a bonus policy is absent, so presumably, the firm does not offer this possibility.

Account Opening on Marketrocks.com

Account registration involves providing contact details, name, password, residential address, and a reference code, which indeed indicates the existence of an affiliate program.

The reference code is mandatory, as the register button will not activate until it is entered. Where does one get an invitation? And why can’t an account be registered without a promo code? I don’t remember reputable, well-known brokers operating in this manner, but I am well aware that fraudulent organizations like this approach. Thus, invitation-only registration strongly hints at the fraudulent nature of the platform.

When attempting to enter a referral code at random, the system returns an error “Something went wrong. Please contact support”. It is not without reason because managers are eager to process potential clients who want to register an account. Apparently, this is what the fraudsters are counting on.

Verification

The verification procedure here is mandatory. Throughout the site, there is a step-by-step guide on how to start trading, where after creating an account and before the first trade, one finds the deposit replenishment section. Yet, there is no mention of KYC.

On the official website, in the “Legal” section, among the documents, one can find the KYC policy. It explains what KYC is, why verification is necessary, and who requires it. The verification process itself is standard:

1. Document confirming identity.
2. Document confirming the address of residence.
3. Photo/scan of the bank card.

Trading Software

How can I review and study the trading platform interface if there is no access to a personal account? Moreover, access to any terminal, even WebTrader, is only for registered users. One can only trust the information described on the official website, as there is no alternative.

The broker promises that the platform supports all versions, including Android/iOS mobile phones, but the links are not accessible. Only users with a registered personal account can download the terminal. And how can one believe that the platform works on smartphones if it cannot be verified?

Additionally, clients have access to various types of orders, presumably not only market but also pending orders, as well as one-click trading, chart setups, analysis and indicator tools, and real-time pricing.

How Can I Trade With Marketrocks?

Traders have access to over 2,000 assets. There are no commissions, which is quite strange, and the leverage is 1:400, which violates regulatory norms, but more on that later. Further in the review of Marketrocks, I will explore the types of accounts and conditions, as this plays a crucial role in choosing a platform.

All Info About Accounts

Before trading, one must decide on the type of account. There are five options:

1. Mini. Floating spreads from 3 pips, access to the platform, lots from 0.01, education center, price alerts, and no commission. However, the minimum deposit is quite substantial – $5,000.
2. Advanced. Here, the spread sizes are hidden, but additions include an account manager and a customized trading strategy. To open such a tariff, clients will need to top up their balance to $10,000 or more.
3. Executive. No less than $25,000. The package includes a personal portfolio, exclusive daily market analysis, and research tools.
4. Prime. Hedging added, with a minimum deposit of no less than $100,000. And what is the point of such a package? The set of features is essentially the same as in the Executive, but the required amount is four times greater. The logic simply isn’t there.
5. VIP. No less than $250,000. This tariff is for millionaires, among whom it is unlikely to find many willing to risk such an amount in an unclear location. Additionally, the list of extra services is replenished with lower spreads and the presence of negative-balance protection. Does this mean that all other traders’ account balances can go into the negative? Great.

The trading conditions definitely require comments. Firstly, the huge minimum deposit of $5,000 looks very insane. Secondly, the broker does not even offer a demo account, meaning that in order to test the Marketrocks service, one needs to invest a large sum. Thirdly, spreads are only specified for the first type of account, but what about the others? What are the commissions on the second, third, fourth, and fifth tariffs? Fourthly, a leverage of 1:400 indicates a lack of license, as regulators prohibit such a size of borrowed funds.

Market Analysis and Education With Marketrocks.com

All clients have access to an educational center, but there is no specific information on the topics covered or the format in which the educational materials are presented. Additionally, the broker provides contract expiries, which are unlikely to be useful for CFD traders as they are intended for futures and options. Furthermore, the main page features a news feed and quotes for major currency pairs, stocks, Bitcoin, and gold. Other services depend on the activated tariff plan. It should be noted that the set of publicly available services is very meager.

Deposit, Withdrawal, and Fees

Unfortunately, there is no separate section that provides detailed information regarding payment methods on the site. In the FAQ, the broker mentions credit and debit cards, bank transfers, and other methods, under which I suspect cryptocurrency or electronic wallets, but it is not certain that they are supported. I cannot check through a personal account which payment systems are displayed there, as registration is impossible. Commissions are also not specified, so they can be assumed to be zero by default.

How Can I Contact It?

Verifying contact information could also provide a lot of interesting and useful information. If you want to contact the company’s representatives, this can be done via telephone or email. You can also try your luck and write on Instagram or Facebook, perhaps the managers will respond.

I checked the email, and it is real. The phone number was also not found on other sites, only on marketrocks.com. The social networks have no followers, so it is unlikely that this is some well-known brokerage firm. The number of posts is also small, and the pictures are entirely generated using artificial intelligence.

Is Marketrocks Dangerous?

There are no doubts about the fraudulent nature of the platform, but for complete certainty, it is necessary to examine the licenses, legal address, and founding date. This will be the next focus in the Marketrocks review, followed by the conclusion.

How Long Does The Broker Work?

The site lacks information about the founding date, so it is important to look at the domain, specifically when it was registered. This occurred in September 2023, less than a year ago.

How Is Marketrocks Regulated?

I saved the most intriguing part for last. Before finally rendering a verdict in this Marketrocks review, I will check the registries of the indicated jurisdiction and the licenses as well.

The platform is managed by an offshore company, Gold Coast Advisors Ltd, which is based in Saint Lucia. This organization is indeed officially registered in Saint Lucia.

However, it’s too early to rejoice. The issue is that the local regulator does not oversee the activities of forex and CFD brokers, hence Gold Coast Advisors Ltd is not under regulation. There’s more. I also have serious doubts that this company operates a fraudulent platform. Scammers could easily list any random firm from the Saint Lucia registry in the footer. Why should traders trust such information? Where are the real proofs?

Frequently Asked Questions (FAQ)

How to Trade With Marketrocks?

First, you need to register and then fund your deposit. However, when attempting to create an account, an error occurred that requires communication with support managers.

Is Marketrocks Legit?

The broker has no license, thus it operates illegally. The stated offshore legal entity is also likely not associated with the platform.

How Risky Is It?

There is no doubt that the risk here is 100%. It is very easy to lose money since the company is illegal and fraudulent. It is possible to replenish the deposit, but impossible to withdraw.

Kevin Berry

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Expert Opinion

In short, a typical scammer. Nothing new that anonymous criminals have invented. Just the same classic scam as many others: insane requirements for the initial deposit, hidden fees and spreads, lack of regulation and insurance, and other negative factors. And I have not yet discussed the business model, which is ignored on the official site, but it is not hard to guess that it is 100% a B-Book or, in other words, a dealing desk. The goal of the Marketrocks review is to protect you from scammers, trade only in safe and legal places with licenses and extensive experience.