Ted Foxworth CEO of CryptoRocketCryptoRocket CEO, Ted Foxworth has a background in Forex Trading and started out as a teenager. With the emergence of Bitcoin and the popularity surrounding it, Ted’s attention quickly turned to digital asset trading. The experience Ted has gained over the years made him the ideal candidate to lead emerging ECN broker, CryptoRocket.https://cdn.coingape.com/wp-content/uploads/2020/03/03192924/2020-03-03-1-e1583244055186.png
In an exclusive interview with Ted Foxworth, the CEO of CryptoRocket, a multi-asset trading platform, he explained how Bitcoin has become a household name and how its volatility is attracting the traders, specially the scalp traders.
- Can you briefly introduce what CryptoRocket is and how you are different from the many other brokers out there?
CryptoRocket is a new, online broker which offers multi asset trading on a range of instruments through leveraged trading on the MT4 trading platform.We are a true ECN broker and launched back in 2019. CryptoRocket uses straight through processing execution which removes any conflict of interest ensuring that our users get lightning fast execution speeds and the best rates from top tier liquidity providers.
We wanted to create a space where our users can trade on a range of assets with leverage. We are firm believers in simplicity and user experience is extremely important to us, as such we like to keep things simple by offering just one account type.In addition to this, we offer pristine conditions with high leverage without any ongoing account costs. We often see brokers online which do offer leveraged trading but at a premium. We believe in giving accessibility to trading to people who may traditionally be prices out of markets.
We offer microlot trading from 0.01 lots up to 1,000 lots, catering from new users who want to test the waters and professional traders as well.
Further to our commitment to accessibility, users can start trading from as little as $10.00 and sign up is free. There is a demo account also, for anyone who would like to test our platform before depositing.
- What all assets can a user trade on your platform?
We offer leveraged trading on a range of assets but our main focus is to provide our users with trading on Cryptocurrencies especially the Top 4 by Market Capitalisation namely Bitcoin, Ethereum, Ripple and Bitcoin Cash. Trading BTC USD is an extremely popular instrument for our clients especially considering we offer 1:100 leverage on Cryptocurrencies.
We also offer 1:500 trading on 55 Forex pairs including all majors, crosses and an array of exotics for such as Hungarian Forint, Polish Zloty and Mexican Peso.
For our Stock Market enthusiasts, we offer 64 Stocks with a maximum leverage of 1:20.
We offer energies such as oil and gas which carries a maximum leverage of 1:200. We have 11 indices including UK100 and AUS200 which also come with 1:200 leverage.
We also have metals including Gold which reached a 7 year high recently off the back of the Coronavirus epidemic.
We offer the Dollar and Commodities including NGAS, UKOil and USOil.
We do encourage our users to fully understand how to trade with Leverage and as such, we encourage them to make use of the demo account to develop a strategy. When creating a trading account, our users can select their desired leverage and can have as many accounts as they wish with different leverage settings as desired.
- Sitting in 2020, what do you think is the biggest barrier for the crypto adoption?
I suppose consumer confidence. Cryptocurrencies are volatile this is true, but the volatility makes them ideal assets to trade. Especially scalpers wanting to get in and out of a market quickly. And yes, we allow scalping and hedging.
In terms of confidence, Bitcoin has shown a resurgence recently and has stabilised around $8,600. Bitcoin is now a household name and many early investors have hit the big time thanks to the BTC price rise in recent years.
There is a reluctance for many BTC holders to deposit into accounts using BTC in fear of missing out on an upward price. To combat this we came up with a Vault system solution. We give our users freedom of choice in how to hold funds in their accounts. For the ones who wish to protect their investment they can deposit in USD, GBP or EUR – ensuring that the amount deposited is locked in.
What is unique about our product is that users can store deposited funds in a BIT wallet. This means that the vault will fluctuate as does BTC in real time. We did this to cater for HODLers who wanted rapid access to trading without running the risk of missing out on a BTC price rise. In essence, it gives traders an advantageous hedge to ride the highs and step out on the lows – while still trading, which you can’t do in an exchange.
- As a forex broker, are you witnessing Corona Virus affecting both the crypto market and conventional market differently? What are your thoughts?
There is no doubt that the virus has affected markets. We have noticed many clients going short in the short terms as confidence in markets suffer. However, when looking at long term investments this might be the time to buy as we wait for markets to recover.
- Do you think 2020 will see a new high of Cryptocurrencies and bitcoin?
There is a huge event on the horizon for Bitcoin. The estimated date I believe is 12th May 2020. The halvening or halving is on its way. This is the 3rd such event of its kind since Bitcoin was launched back in 2010.
Every 210,000 blocks mined, the reward for miners is halved. The latest halving will cut the BTC reward to 6.25BTC from 12.5 so we may see a scramble for people purchasing BTC and opening buy positions as history has shown as that in the months after the previous halvings, the market tends to bounce and BTC value rise.
- What’s next for CryptoRocket?
We are focusing on continuing to provide our clients with the best trading conditions on the market.
We have launched our brand new affiliate program which offers affiliates handsome rewards for referring people to our platform. For every lot traded from a trader referred, affiliates will receive $5 per traded lot.
To help with affiliate marketing campaigns we have an affiliate media pack and exclusive access to an affiliate manager to assist you along the way.
As part of our ongoing commitment to client satisfaction, we offer round the clock customer support from our dedicated professional team.