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Redrock500 Review – Is the Broker Good for New and Experienced Traders?

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Apr 22, 2020
RedRock500 Broker Summary
  • Overall Rating
4.2

Summary

RedRock500 has the tightest spreads! This is a not a fixed spread that you will be dealing with but different spreads with different assets and the best thing is that your spreads will be starting from 1 pip. That’s the tightest I have seen from any online broker. I am impressed that the broker has shown the willingness to provide its new traders with the same spreads.

RedRock500 Review

RedRock500 Logo PictureThe broker you sign up can make or break your trading experience. There are some brokers that provide you with everything that you need. And there are some that let you trade only according to their ways. When you sign up with the latter brokers, you find yourself in a lot of trouble. You have to spend money on everything. Whether you are looking to trade an asset or depositing funds in your account, the broker will charge you some fee or commission. You can’t really afford that when you are a new trader and you don’t have to a lot of money in your account.

I have done my research and spent time researching the brokers. I can save you some time by telling you about a broker that can provide you with everything that you require as a trader. But I think it is best that you look at the features of this broker and decide for yourself whether you can sign up with it or not. I can tell you about its features, the pros and cons of those features, and then leave the decision for you to make. So, here is the review that you have been waiting for on Redrock500.

Redrock500 for New and Experienced Traders

Deposit without Fears

Do you have to fear anything when it comes to depositing funds in your account? The problem with online fund deposits with brokers is that you have to pay some fees and commissions to them for depositing funds in your account. It is not a pleasant sight when you have to give money to the broker for funding your own account. However, there are some brokers that can make your life easy when you want to fund your online trading account. So, when you are looking at Redrock500, you will notice that you can fund your account without incurring any charges for this activity.

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First of all, you can deposit funds in your account without any issues because you can do that through the safest methods available. You will notice something different when it comes to funding your account after signing up with this broker. In most cases, you have to choose from the credit card and bank wire transfer options. This is how you can put money in your account and trade conveniently. However, the best thing about Redrock500, is that it allows you to use your debit card as well. If you are someone who wants to avoid credit as much as possible, you can go with the debit card option.

RedRock500 Security

Of course, you can use the bank wire transfer option as well if that’s how you want to transfer money into your account. Now, you can go with the option that suits you and your requirements. If you are looking to transfer money into your account instantly, you can go with the credit card and e-wallet option. However, if you are more focused on the safety of your money, you should go with the bank wire transfer option. It really does not matter which particular option you use for depositing funds in your account, you will still not be paying anything for that.

Deposit What You Can

I am going to give the broker credit for doing many things.  There are many different types of traders in the world and they have their concerns when it comes to depositing funds in their accounts. If you are an experienced trader, it will not be a problem for you to deposit a few thousand dollars in your account as you start trading. However, if you are a new trader, you might not have enough money in your account to fund your online trading account. The broker should give you the option to deposit money that is easily possible for you to deposit.

If you look at the account types from the broker, you will notice that the first account, which is the most basic account, requires no more than $250 from you to start trading. That is one of the smallest amounts that I have seen an online broker accepting from its traders. This is how the brokers should be making things easy for their traders. Now, even if you go with the standard account, you will be depositing $5000 in your account to start it. There are some brokers that will require you to deposit more than ten thousand dollars in your account if you are not going with the basic account.

Another thing that you will notice is that most online brokers require you to deposit a lot of money when you go with the advanced account. There are some brokers that will make you pay hundreds of thousands of dollars before you can start trading with them with the advanced account. I have tested these brokers and looked at their information for many months. I can tell you with a guaranty that there are some brokers who require you to deposit $100,000 to go with the black or VIP account with them. However, this broker will not require more than $20,000 from you even if you go with the most expensive account.

Analysis Information

There is something that I have always felt that online brokers should do but usually, they don’t. So, you see that most online brokers offer you to learn trading before you start trading with them. Of course, you cannot start any activity in the world unless you learn about it. However, the problem with online trading is that you have to find your resources online as well. You might have a lot of online resources that promise to provide you with trading education, but you will not always find them to be appropriate for the job. I can tell you from my personal experience that there is no resource better than your online broker for the job.

What happens is that the broker that you sign up with is the one that is in the market. It can tell you what’s going on in the market and provide you with information on the latest trends in the market. In addition to that, you will see that the broker has all the information for the traders in the form of categorized courses.

The problem with most brokers is that they give you information about trading only when you sign up with them and spend money depending on the account you pick. In other words, you have to spend hundreds of dollars before you can learn anything from the broker. However, things will be different when you go with Redrock500. This broker has made a lot of useful information available to you right on the website. What it means is that you don’t have to spend money to sign up with the broker only to get some access to the online education from the broker.

This broker has given you all the information about technical and fundamental analysis right on the website. This means you will not have to spend money on learning about them. Just so you know, I can tell you from my experience that there is nothing more important than technical and fundamental analysis when you are trading online. These are the analytical methods that can tell you everything about an asset. So, if you are thinking about starting to trade and you want information about the analytical methods that are available to you for forecasting the price movements of the assets, you should learn them from Redrock500.

Redrock500 Webtrader

WebTrader Trading Platform

There is nothing wrong with being picky when it comes to picking the trading platform for trading. Different brokers will give you access to their trading platforms in different ways. For example, you have some brokers that provide you with a trading platform that is available on many different devices. You can download the platform on your desktop computer if you want. In addition to that, you can download the trading platform on your mobile devices. You can use it on your tablet and other mobile devices. The problem with this type of trading platform is that it is available to you only locally.

What does locally mean here? Well, it means that the trading platform you are using is only downloaded and installed on the device on which you downloaded it. If you move to a different device, you will not be able to use the trading platform at all. Now, there are some brokers that create their own trading platforms. They have the freedom to pick a trading platform that runs on your devices locally or in the cloud so you can access it from anywhere in the world. That’s something you have to keep in mind.

I love the way Redrock500 has solved the problem. You see, when you download and install the trading platform on your device, you run into some other issues as well. What are those other issues? Well, you will find yourself struggling with compatibility issues as well. When you download and install the trading platform on your computer, you might not be able to use it on your Windows computer just because it runs on your Mac. Moreover, just because you are using the trading platform on your Android phone does not mean you will be using it on your iPhone as well.

The broker has done a great job of creating a trading platform that will run in the cloud. When a software runs in the cloud, it means that you are able to use it from any device without any compatibility issues. The software is more like a website that you can open on any device. You don’t have to download the software so there is no question of you running into compatibility issues. In addition to that, you will be able to access the trading platform and perform trades on your smartphones, tablets, computers, etc.

The trading platform from Redrock500 is one of the best ones I have used. I can tell you that its interface is extremely user friendly. You will not have any problems in understanding the trading platform. Plus, you will get all your indicators and tools that you need while trading on the software. This way, you can perform your trades without any issues and increase the rate of your successful trades.

Redrock500 Spreads

Tight Spreads

If you are new to trading, you have to understand a few terms and their meaning. In addition to that, you will have to understand their importance. The most important thing that you have to familiarize yourself with when you sign up with a broker is a spread. The term spread tells you how the different will be in the prices of the assets when you buy them and sell them back to the same broker. There will always be this difference in the prices. This is how the broker makes money while providing trading services to the traders from around the world.

So, when you sign up with a broker, you have to see how much money you can make on your trades. Of course, you can make money only when you make profits on your trades. If you are ending up with losses, you can’t make any money. If the brokers’ spreads are tight, you cannot make money even if you enter successful trades. That’s the situation you have to avoid when you sign up with a broker. If you think the broker you are signing up with has loose spreads, you should look for one that offers you some tight spreads. And that’s where I can always recommend Redrock500 to you.

This broker has made sure that you get the tightest spreads when you trade with it. Now, you have to know one thing that this is a not fixed spread that you will be dealing with when you trade with Redrock500. You will have different spreads with different assets when you are trading with Redrock500. However, the best thing is that your spreads will be starting from 1 pip. That’s the tightest spreads I have seen from any online broker. I am impressed that the broker has shown the willingness to provide its new traders with the same spreads.

If you look at the trading accounts from the broker, you will notice that the spreads are the same for all the traders. You will be trading with the same competitive spreads whether you go with the basic account or the most advanced account.

Huge Leverages

You are going to love the leverages that this broker is providing you with. I agree that there are brokers with some huge leverages for their traders, but I am sure you will not find many who offer such huge leverages. You will see a lot of online reviewers talking about leverages. They will tell you that you should not go for leverages because they can be risky. Well, I always say to them that even trading is risky. Just because something is risky does not automatically mean that you should not do it all. As I said, you have online trading, which in itself is risky.

You always have to take risky steps if you want to achieve something big in life. Making an investment into anything in the world is also a risky job. If you don’t take risks, you will not make any money. Yes, what you have to do, on the other hand, is to make sure that you try to minimize your risks as much as possible. You can use many different trading techniques that will help you minimize your risks.

Of course, you should always be careful with the option you use when you are trading, and using leverages is one of those things that you should be careful about. However, once you know what leverages are all about and how you can benefit from them, the broker should give you complete freedom to use this option to your advantage. So, if you are thinking about trading with Redrock500, you should know that this broker is going to provide you with huge leverages of 1:1000 right from the start of your trading career. It does not matter whether you start trading today or tomorrow, you will have such a huge improvement in your trades when you sign up with Redrock500.

You should be glad at this point that the broker is giving you something that it is giving to its experienced traders as well. If you look at the trading account options from Redrock500, you get leverages of 1:1001 with the most advanced trading accounts. You can already see that this is not much of a difference from what you are getting with a basic account. So, whether you are new to trading or someone who has been trading for years, this broker will give you equal opportunities for trading and making money.

Trade with Great Profits

The broker should never introduce fees and charges that cut into your profits. I was very amazed to know after my research that a lot of brokers out there have this habit of biting into the profits that their traders make. What they do is that they introduce many different types of charges and fees. These fees can be associated with your trades, withdrawals, and even deposits. When you take out the fees from the profits you are making, you are left with no profits sometimes. That is not a sight that you are going to appreciate when you sign up with a broker and spend so much money on trading.

This is one of the reasons I admire the efforts that Redrock500 is putting in to make trading a pleasant journey for traders. You have to keep in mind that the broker is accommodating traders and providing them with a great trading platform from all around the world. It has to give them only the best and nothing less. For this reason, the broker has cut down on its profits to give the best outcomes to its traders. You will notice that when you look at the amount of commission the broker takes from you on your trades. It is amazing how the broker is not even taking one percent commission from your trades.

You can deposit funds in your account without incurring any charges. However, the most important part is the withdrawal. That’s where most brokers make your life difficult. It is as though they don’t want you to withdraw anything from your trading account. However, you will not feel anything like that when you sign up with Redrock500. This broker will let you withdraw funds from your account without paying anything. s

Trade Safely

After looking at the features that I have just mentioned above, I think the only concern you must be left with is the security of your money and information. You want to sign up with a broker but the only thing that stops you is whether the money you deposit in your account will be safe and the information you enter on the website will be protected. You can be happy knowing the fact that this broker takes care of both these important matters very carefully. The broker has provided you with an online website that is properly secured through SSL certificates.

In addition to that, you will be happy to know that the money you deposit in your trading accounts with this broker is going to be maintained in segregated funds. That’s what you expect from a well-known online broker and that’s exactly what you are getting from Redrock500.

Final Thoughts

I am sure you will pay some attention to this broker now that you have known this much about it. I can tell you that there are not many brokers that provide you with such features and great flexibility in trading. This broker has done something great and those great efforts speak loudly in the features that it provides you with. If you are considering signing up with a broker to start your trading career today, I urge you to check out Redrock500 among other options you are considering.

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