RedRock500 Review – Know the Prominent Features of the Broker

RedRock500 Review

If you are thinking about investing your money somewhere, your priority would be to opt for a vehicle that can offer you a high return. In these difficult times, a high ROI can go a long way in helping you secure your future. While there are a ton of investment options that you can find nowadays, not all of them are highly profitable or reliable for that matter. They may not be able to generate consistent returns or may offer very low ones that are just not worth it. So, how do you get the ROI you want? This is when you turn to the financial markets, which are filled to the brink with opportunities that can come in handy.

For years, people have been trading in these markets, one instrument or another, and have enjoyed substantial returns. Previously, people didn’t give much thought to this avenue because there were a lot of steps that had to be taken in order to trade in the financial markets. The good news is that the internet and technology combined, have cleared out the path by bringing the concept of online trading. You can now access the financial markets from the comfort of your living room, office or anywhere else.

This has added a whole new layer of appeal to trading and the stories about people making it big in these markets are enough to convince anyone to venture into this space. Even with no prior background or knowledge, you can still carve your path and actually achieve your goals with some effort. However, through all of it, you need to know that online trading is only possible through a broker. They are your springboard into the financial markets and provide you with everything that’s needed for starting this journey. To invest in any of these markets, you have to find a trading platform first.

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The options are not that hard to find, as a simple Google search is bound to provide you with a massive list of choices. It is the actual sorting through them to pick one that suits you is the real challenge. In order to overcome this challenge, you can check the prominent features of a broker to see how well they would work out for you. You can do the same with RedRock500, a brokerage specializing in forex and CFDs (Contract for Difference), which has more than a decade of experience in providing trading services.

While this does sound impressive, it doesn’t mean that their offerings could be the right fit for you. After all, there are plenty of experienced firms in the market and you cannot sign up with all of them. In order to decide, you can check the prominent features of RedRock500 and then make your choice. Some of these features are mentioned as follows:

Feature 1: RedRock500’s Asset Offerings

The whole reason for looking at a broker is to see what kind of assets they can offer to you because that’s how you will make your returns. You will trade financial instruments for making profits, but it should be noted that not all instruments have the same profit potential. Some tend to be less volatile and more consistent, but they may offer lower returns. Likewise, volatile instruments can offer you bigger returns, but also come with bigger reasons. This is where diversification comes in where you can invest in riskier and less-riskier assets to balance your portfolio and earn maximum returns.

To be able to do any of it, you need to have access to a range of assets. This is what you will find at RedRock500, as they have put together quite a variety. As mentioned earlier, it is a forex and CFD broker, which allows it to offer you plenty of instruments to choose from. Some of the options include:

  • Stocks: One of the world’s oldest markets, the stock market allows you to invest in shares of the leading global companies and trade them to make substantial profits. You will be able to opt for firms, such as Google, Apple, Microsoft, Facebook, Amazon, eBay and more.
  • Forex: Known as the biggest financial market in the world, there are a ton of currency pairs in this market that can be traded. These include EUR/USD, AUD/JPY, USD/AUD, GBP/USD, NZD/USD and AUD/CHF, amongst others.
  • Commodities: A much safer and less-volatile option, you can choose from soft and hard trading commodities to add to your investment portfolio. The former include agricultural products like corn, coffee, wheat, sugar and cotton. The latter refers to precious metals like gold, silver, platinum and others. In fact, energies like crude oil and natural gas can also be traded.
  • Cryptocurrencies: The hottest addition to the asset offerings is cryptocurrency, which seem to be rocking the financial markets. You can trade Bitcoin, Litecoin, Ethereum, Ripple and some other renowned cryptocurrencies on this platform.

Feature 2: RedRock500’s Security Policies

After you have worked out what instruments you will be trade and whether you can diversify or not, it is important that you know the kind of security you will be provided. With the number of cybersecurity incidents on the rise, you don’t want to make compromises here because you could end up losing your personal information, or you can have your money stolen. Neither of these circumstances will do you any good, so it is important to know how a broker reassures you in this regard. At RedRock500, you will find security policies for your information and funds alike.

Their platform makes use of high-end SSL (Secure Socket Layer) encryption, which is used for protecting all information and communications between the company and its clients. No third-parties are provided access to any of this data, for any reason. Segregated customer accounts are kept for fund security, as these prevent the deposits from being mixed up with the company’s own funds. They are only reserved for trading activity and maintained with top banks for another layer of security. If the company goes bankrupt, they are returned to the clients.

To further minimize the risk of any cybercriminals from gaining access to their platform, RedRock500 has opted to use the AML (Anti-Money Laundering) and KYC (Know Your Customer) policies. These are recognized internationally and have been developed for reducing the possibility of financial crimes like money laundering and terrorist financing. Plus, they are also effective in preventing identity theft because traders are required to provide proof of ID and proof of residence in order to comply with them.

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Hence, they have to provide documentation that can give this proof. For instance, proof of ID requires submission of a national ID card, passport or a driver’s license, whichever is convenient. You just need to make sure it is not expired. For residence, traders have to share a utility bill, whether water, gas or electricity, or a bank statement, showing your name and address and not more than three months old. These documents are verified by RedRock500 before your account is unlocked for withdrawals.

Feature 3: RedRock500’s Trading Platform

When you are done with going through the assets and the security protocols, it is time to shift your attention to one of the most crucial features that a brokerage can offer to you. In fact, it is the one feature that has made them a necessity in the trading world; a trading platform. This is the software that’s used to connect to the financial markets and allows traders to open and close positions. There are different kinds of trading platforms that exist and it is up to the company to decide which one they want to offer. In the case of RedRock500, they have developed a web trading platform for their clients.

As obvious from the name, this particular trading platform is accessed through the web browser, so it doesn’t come with any downloading or installation requirement. This is a relief to many traders because downloaded platforms often depend on the device they are used on for their performance and this can cause problems. RedRock500’s platform can be used by logging in through their website, which means it can be used on any device that you have available. You can use it on your laptop, your desktop PC or even use it on your mobile devices. It has been designed to operate smoothly on both Android and iOS platforms, so you can enjoy a great deal of flexibility.

Along with these perks, you will also find that RedRock500 has developed an intuitive user-interface to ensure that all traders, whether they are beginners or seasoned, can use the platform without having to worry about a learning curve. It can be customized easily and boasts powerful technology that allows it to provide ultra-fast trade execution. One-click trading simplifies the process further and there are excellent trading tools that also come in handy. An advanced charting package, trading indicators, price alerts, technical analysis tools and market news are just some of them. They also have a social trading feature, which allows you to copy the trades of expert traders in order to benefit from their strategies.

Feature 4: Registration at RedRock500

You will be required to register with the broker in order to use their services, so it is best to know what this process entails. The procedure can vary from company to company, as there is no set standard. Obviously, you would prefer it if the process was simple and quick, but a lot of platforms out there can often complicate it with too many requirements or steps to complete. RedRock500 has chosen not to take a page out of their book because their registration is straightforward and doesn’t take more than a few minutes. It comprises of just one form that you have to complete and this form asks you to share the following:

  • First name and last name
  • Phone number
  • Address
  • Email address
  • Postal code and country
  • Password you want to use
  • Account currency, whether EUR or USD

After you have entered all this information, you need to confirm that you are 18 years old, or above. Last, you have to agree to RedRock500’s Terms & Conditions and you will be good to go. These conditions are mentioned on their website and you can go through them before you sign up.

Feature 6: RedRock500’s Account Types

After you are done with registration, the next process is to choose an account provided by the broker. It is common for them to offer several options because not all traders are the same. Beginners have different requirements, as do seasoned traders and these need to be taken into account. A one-size-fits-all approach cannot be used here, so RedRock500 has also come up with three account choices for their client base. Each of these three options is meant for a different category of trader. The details include:

  • Micro: This is the first account you will find and it is meant for newcomers in the trading market or beginners, who don’t have a lot of exposure or experience. This account is opened with a deposit of $250.
  • Standard: The next account type that you will come across is for intermediate traders, who have moved past the beginner stage, but don’t have enough experience to be categorized as experts, as yet. Therefore, they are asked to deposit $5,000 to open this account.
  • Big: The third account type is rather self-explanatory; it is for traders who want to make big trades and moves i.e. expert traders. They have to deposit a minimum of $20,000 to open this account.

These account options allow traders to indulge in hedging and the spreads offered start as low as 1 pips to keep things competitive. The maximum leverage available is 1:1000 and account managers are also provided for assistance and guidance. Also, RedRock500 allows its clients to opt for an Islamic Account option, in case they are Muslim.

Ending Thoughts

After looking at the prominent features of RedRock500, you can sign up with them to start your trading journey.