In the online trading industry, it can be difficult to provide an equal playing ground for both newcomers and industry veterans. Many brokerages appeal only to one side while completely forgoing the other. Investing in trader education can prove to be a daunting task for brokers, so many opt to skip it entirely, focusing strictly on developing a complex platform with many advanced options. On the other side, some brokerages offer a comprehensive set of educational resources for beginners and a web-based platform with barely any features.
Right in the middle lies RosewoodTrust. They manage to strike a balance for all traders regardless of their prior experience. This “everyone is welcome” mantra can be seen in the fact that traders from all over the world can open an account regardless of their race or country of origin. This RosewoodTrust review aims to dig deep and find out if their offer is worth considering.
RosewoodTrust tries to distinguish themselves in every step, and it is obvious from the very moment you take a look at their homepage. While most other brokerages use a cookie-cutter template that we have seen hundreds of times before, RosewoodTrust’s visual language actually managed to surprise us. Even though the design is very elaborate, everything seems to be laid out quite logically, so you will never waste time looking for what you need.
There are several shortcuts on the homepage that enable you to reach pretty much the entire website in just a single click. RosewoodTrust should be commended because of this design, and we would love to see this design philosophy implemented as an industry standard. Now let us take a look under the surface and see whether there is sufficient content behind all the pretty façade.
Quality of service
In order to make online trading interesting for beginners, RosewoodTrust has drastically lowered the entry barrier. In fact, there are several distinct tiers of accounts that can match the needs, ambitions and budget of all types of traders. This flexibility is a welcoming touch because it allows traders to start off small, and then scale up as their investments yield positive results. When opening your account, these are your options:
With a $250 minimum balance, traders can open a “Savings account”. You get access to 200+ tradable financial instruments, market reviews and a competitive spread of up to 1.5%. Flexible leverage goes up to 1:100.
- Passive income
Next tier starts at $5,000. Numerous perks include dedicated senior account manager, tier-3 room analysis, risk management planning, monthly seminars and much more. Holders of “Passive income account have flexible leverage of up to 1:200.
For $20,000 “Retirement” account holders enjoy tight spreads of up to 0.5%, weekly webinars, level-s prioritised withdrawals and flexible leverage of up to 1:300.
- Wealth Builder
This is the best RosewoodTrust has to offer. Starting at $100,000 minimum balance, traders receive special gifts worth $5,000, VIP events, level-1 prioritised withdrawal process and even tighter spreads and powerful leverage.
For those who are hesitant about spending the minimal amount needed to open the account, RosewoodTrust offers a comprehensive set of educational resources that are designed to lift beginners off the ground and bring experienced traders up to speed with the newest industry trends.
The starting off ground should be the Glossary and the Asset Index as it offers the most basic introduction to the world of online trading. Here you can familiarize yourself with all trading terminology that traders use on a daily basis and explore a vast list of available assets. Even the most experienced traders start with the assets list as it gives them an overview of what instruments they will be using to build their portfolio.
To get an even better understanding of the industry, there is the eBooks page. Regardless of your level, you should spend some time reading this material, as it can be helpful down the line. Traders can learn everything starting from beginner strategies all the way to advanced technical analysis. All this material is easy on the eye with pleasing visuals that follow a carefully written guide to many topics you will need to understand before becoming a successful trader.
Speed of response
Customer support is one of the least glamorous, and yet one of the most important parts of every brokerage. When everything runs smoothly, there is no problem, but when a trader encounters an issue, no one can underestimate the importance of a good support system. There are several different options to contact a RosewoodTrust representative. If you prefer to talk to someone, you can do so via the phone. Depending on where you are located in the world, you can either contact Australia or the United Kingdom team. Both are very professional and polite when it comes to addressing any kind of issues. We spend a lot of time with them on the line as they walked us through the entire process of setting up our account, even though all this information was readily accessible on the website.
Traders who don’t have the time to talk to someone directly can always use the on-page form or write to the support team via email. All of our emails have been replied to promptly. One thing we would love to see improved is the support operating hours. They are open Monday to Friday 09:00 – 13:00 GMT.
RosewoodTrust’s trading platform will be a point of contempt for many. Industry veterans are mostly used to the Meta Trader platforms and generally have a hard time transitioning to any alternatives. RosewoodTrust uses a web-based platform that while lacks some of the advanced features of MT4 and MT5, makes up for it with lightning-speed executions and general ease-of-use.
Traders can fill up their portfolio in seconds, as all assets are easily accessible on the left-hand side of the user-interface. Diving them into categories was a smart idea, as it makes finding your favourite asset a quick and simple task. Once you have selected your preferred financial instrument, you can monitor its performance in real-time on the right-hand side. There are numerous tools that you can interact with to help you better understand and even predict some market trends.
Where this platform shines the most is its executions. Buying and selling assets is instantaneous. High volatility of the markets often requires a speedy response. This is why experienced traders should think twice about blindly holding onto the Meta Trader platforms. At the end of the day, there is no amount of complex analysis that can replace a stable and quick platform, and this is why we believe RosewoodTrust’s platform is a good option for traders.
We have been subjected to many unpleasant conversations in the past, where we realised only too late that we were subjected to many hidden fees by brokerages who were not upfront about them. This is why we always state the importance of transparency for all traders.
RosewoodTrust lays all the cards on the table immediately. If you are to look through their terms and conditions, you can find all charges you will be subjected to. Every time you try to transfer your funds from your account from your wallet you will encounter withdrawal fees. If you are not careful, and have no activity for longer than 30days, you will be charged with dormant account fees. Finally, there are daily charges for each open position after the closing hours or the company’s trading day.
After extensive trading with RosewoodTrust we can confirm these are the only expenses you will encounter during your trades. Traders should be happy to find out that there will be no awkward surprises down the line.
Some will undoubtedly argue that the fact that RosewoodTrust lacks a proper license. While there are no financial watchdogs looking over its finances, at no point did we feel that our funds are not safe. We have successfully deposited and withdrawn funds several times and have encountered no issues whatsoever. While we understand this will a red flag for some, we feel that based on our experiences we shouldn’t penalise Rosewood trust because of this omission.
This is, in fact, the case for many fairly new brokerages. The cost of obtaining and maintaining a licence can become a huge burden for brokerages trying to make their way into this highly competitive industry. This is why many opt to focus their attention on creating a fully functioning trading platform, or adequate customer service or a flexible payment system. We have witnessed many brokerages working without a licence for several years to establish a decent customer base and then proceeding to obtain one. We have contacted Rosewood Trust and were given clear intentions of them wanting to provide the most competitive and attractive platform that can secure safety for all involved. If there were any signs of any wrong-doing, the trading community would have been all over it, and the fact that there were no warnings regarding Rosewood Trust, gives us the confidence to continue trading.
Variety of Payment Methods
Traders have several options to fund their account based on their preferences. RosewoodTrust supports the most popular methods:
- Credit Cards (Visa or Master Card)
- Wire Transfer
- Bitcoin Transfer
You are free to choose any of these methods, but you should be aware that you will experience different waiting times depending on what you choose. Using your credit card or wire transfers will heavily depend on your bank provider. In some cases, you might have to wait several days before you receive your money. When opting for cryptocurrencies though, the transfer will be instant.
At the end of our RosewoodTrust review, we have to emphasise again how pleasantly surprised we were with the fact that this brokerage created an even playing field for traders of all levels. Trading conditions far exceeded our expectations and despite not having a licence, we can full-heartedly recommend RosewoodTrust based on our experiences.