Starting your trading career sounds simple enough on paper. You pick from thousands of brokerages, select your preferred asset and start investing. However, in the past years, there have been many unsatisfied traders who had terrible experiences. This can mostly be attributed to one simple mistake they made pretty early on – rushing when choosing their brokerage.
This step might seem like a no-brainer, but you should definitely spend a lot of time on research, as it can save you a lot of money and time in the long run. Since the entire online trading industry has become very lucrative, many brokers started to look for a quick pay-out. They have nearly perfected their strategy so that it has become increasingly difficult to tell them apart from the real and honest brokerages. Today, we have placed our focus on a young brokerage with seemingly huge potential, but with a question mark above its head. In our RosewoodTrust review, we are exploring just how trustworthy this brokerage is, and whether you should even consider it.
After reviewing many brokerages in the past, we were thrilled to see a homepage as appealing as this one. The design language is eye-catching and nothing like we see in the forex market. It’s clear RosewoodTrust tried to stand out from its competitors in every way possible, and it is obvious from the first moment you start exploring their offer.
Getting lost in the marketing talk can be easy on RosewoodTrust, so we decided to dig under the surface to find out if their content can back up their claims. We have to RosewoodTrust because it is very user-friendly, and navigating the website seems effortless. There are several shortcuts that can take you pretty much everywhere you would want to go. The same design philosophy will be noticeable in the trading platform as well, but we will touch on that a bit later. For now, let’s address the user experience when setting up your account for the first time.
Quality of service
If you wish so, you could skip the education part of the website and head directly to the trading part. However, if for any reason you feel your skill need a bit of brushing up, or you want to start learning about online trading from the very beginning, RosewoodTrust has got you covered. It offers plenty of resources developed for those in need of some quality education. All of it is divided into several categories for easier use, and most of it can be accessed even before registering. We would love to see this practice in the rest of the industry as well, as traders feel no pressure to commit before learning the ropes.
For a good overview, we would advise starting with the Glossary and the Asset Index. Here you can catch up on the latest trading lingo and see what assets you will be able to use to build a successful portfolio. However, you will get the best education on the eBooks page. There are plenty of books that you can use to upgrade your trading game. Total beginners need not worry, as they can learn everything on beginner strategies all the way up to advanced market trading. All of these books are written very clearly and have graphic illustrations, so everyone can master them easily.
If you do decide to open an account, based on the account type you choose there will be even more educational material for you. Market reviews are meant to help traders keep up with the latest market trends. Monthly webinars provide invaluable information on certain trading aspects and explain in great detail the intricacies of analysis tools. However, you need to be mindful of which account tier you choose, as not all of them contain the previously mentioned resources. Here is a quick breakdown of RosewoodTrust account types:
With a low entry barrier of just $250, you get access to flexible leverage (1:100), competitive spreads (1.5%) and market reviews.
- Passive Income
With a minimum balance of $5,000, you get additional features including even better leverage (1:200), tier 3 trade room analysis, risk management planning and much more.
Perks get increasingly higher with this account type. You get access to weekly webinars, tight spreads (0.5%), and a leverage of 1:300 for just $20,000.
- Wealth Builder
Wealth builder represents the ultimate offer. It starts with $100,000 balance and it comes with a huge list of perks. You can read about them on the company’s website.
Speed of response
Only an experienced trader will know the true value of a good support system. Having issues or simple questions is inevitable with any type of business and having a good team ready to address them is the make it or break point for many.
Having the option to quickly pass on your message and have it reach the right people in a quick and efficient manner is drastically undecimated in this industry. Luckily for everyone, RosewoodTrust seems to have invested a great deal in building an efficient team. They offer several different methods of reaching them.
If you need something resolved quickly, we would always recommend giving them a call immediately. There are two teams that you can reach, one in Australia and one in the United Kingdom. We have spoken to both of them and they all share the same level of professionalism and politeness. No matter what we threw their way, they were able to handle it with elegance.
If for any reason, you cannot talk to them directly, you can always reach them via email or the on-page form that works in a similar manner. No matter how complex the issue, we were always getting a reply within hours with a solution that we were looking for. Traders should keep in mind the working hours:
Chat Operating Hours:
Monday to Friday 07:00 – 14:00 GMT
Phone Support Hours:
Monday to Friday 09:00 – 13:00 GMT
RosewoodTrust trading platform can get some getting used to, especially if you spend most of your time on some of the other platforms. The main idea behind this web-based solution is simplicity and speed. Keeping things simple and efficient is an excellent alternative, especially for volume traders who depend on making quick alterations in their portfolio.
Don’t get us wrong, there still plenty of tools on the platform that you can use to improve and test your trading strategy. Once you select your preferred asset, you can monitor its performance in real-time and play around with tools to find out your optimal strategy.
There are several shortcuts on the platform that can make navigations seamless. You can quickly access all your opened and closed positions, deposit or withdraw your funds, change some of the settings or even directly contact the support system from within the platform.
Hidden fees can be a bane on every trader’s existence. Luckily RosewoodTrust displays all of the trading cost upfront so there will be no awkward situations down the line. There are three types of fees that you can encounter:
- Withdrawal Fees
Every time a trader wishes to transfer funds from his account to his wallet, he will be subjected to withdrawals fees.
- Dormant Account Fees
If traders still have their accounts open but do not register any trading activity for more than 30 days, dormant fees take effect.
- Overnight Fees
This is a common industry practice. For all open positions past the company’s closing times, there will be a single charge the following day.
While RosewoodTrust technically doesn’t hold any trading licence, all of its operations are pretty above board. Traders tend to feel safe when they know there are some financial watchdogs overlooking all operations. However, we have been witnessing many times that brokerages without a licence can operate within the legal boundaries. No one can really place a price on peace of mind, but based on our experiences, RosewoodTrust can be trusted.
Variety of Payment Methods
Unlike with most other RosewoodTrust features, there is a little buzz around payment solutions. They pretty much offer the industry standard and don’t go beyond that. You are limited to using either credit cards, wire transfers or Bitcoin transfers. You can choose either one but be aware that waiting times vary drastically depending on your chosen method. While using credit cards or wire transfer is generally considered as a safer method, it comes with long waiting times that are completely dependent on your bank. If you wish to have your funds in your wallet immediately, definitely go with Bitcoin transfer.
In the end of this RosewoodTrust review, we have to say we are pleasantly surprised with what we experienced. RosewoodTrust is a broker we fully approve and trust and we hope this review helped you realise that.