Rocket21 Review
Rocket21 is a proprietary trading firm offering a unique two-phase evaluation process with virtual funding up to $2 million and an industry-leading profit share of up to 90%. The firm provides a supportive community and educational resources to help traders succeed.
Rocket21 Review
Summary
Rocket21 Challenge is an innovative proprietary trading firm that has been offering simulated trading evaluation services since June 2022. The firm provides a unique opportunity for traders to showcase their skills and potentially manage up to $2 million in virtual capital. Rocket21’s evaluation process consists of two main programs: the Standard Challenge and the Apollo11 Challenge, catering to different trader profiles and experience levels.
One of the most attractive features of Rocket21 is its generous profit split, which can go up to 90% for successful traders. This, combined with their scaling plan that allows traders to increase their account size to $2 million, provides a clear path for career growth. It’s not just about the money, though – Rocket21 also emphasizes building a supportive trading community, offering educational resources through their blog, and fostering connections among traders.
The platform’s partnership with DXtrade ensures that traders have access to a modern, web-based trading interface with advanced tools for analysis and execution. This user-friendly approach extends to their trader dashboard, which provides real-time updates on challenge progress and account management features.
Rocket21’s support system is another standout feature. With live chat support, email assistance, and phone support, traders can get help when they need it most. This comprehensive support structure, along with their educational resources, demonstrates Rocket21’s commitment to trader success.
Let’s examine the prop firm’s features and conditions in more detail to get a fuller picture of Rocket21’s offerings.
Rocket21 Review
Programs
Rocket21 offers two main evaluation programs designed to cater to traders with different experience levels and trading styles: the Standard Challenge and the Apollo11 Challenge.
Standard Challenge
The Standard Challenge is Rocket21’s two-step evaluation process, ideal for retail and day traders who are just starting out or looking to transition into professional trading. This program begins with a Challenge Stage where traders aim for an 8% virtual payout target with no time limits. Traders must adhere to specific rules, including a 5% daily drawdown limit and a 10% maximum drawdown.
The second step, known as the Evaluation Stage, maintains the same rules but reduces the virtual payout target to 5%. Traders must complete a minimum of five trading days in each stage without breaking any rules to earn a funded account. The Standard Challenge offers virtual account sizes ranging from $5,000 to $300,000, with options for both regular and swing accounts. It provides a structured path for traders to prove their skills and consistency over time.
Apollo11 Challenge
The Apollo11 Challenge is Rocket21’s one-step evaluation process, designed for experienced traders who are confident in their trading abilities. This program allows traders to skip the evaluation stage and directly become a funded Rocket Trader after passing the challenge. The Apollo11 Challenge features a 9% virtual payout target, a 3% daily drawdown limit, and a 6% overall maximum drawdown based on relative drawdown calculation.
Traders must trade for a minimum of three days with no maximum time limit. Unlike the Standard Challenge, the Apollo11 Challenge permits the use of Expert Advisors under specific conditions and allows weekend holding and news trading for swing accounts. It offers virtual account sizes up to $600,000 and a scaling opportunity to $2 million. This challenge is tailored for seasoned traders who closely follow the markets and have a solid trading strategy, providing a faster route to funding for those who can demonstrate consistent profitability under more stringent conditions.
Rocket21 Review
Conditions
Rocket21 sets clear conditions that guide traders, with defined profit targets and drawdown limits to ensure disciplined and strategic trading.
Drawdowns
Rocket21 takes drawdowns seriously, implementing strict limits to ensure responsible trading. For the Standard Challenge, traders must adhere to a 5% daily drawdown limit and a 10% maximum drawdown overall. This means you can’t lose more than 5% of your initial virtual balance in a single day, and your total losses can’t exceed 10% of your starting balance. The Apollo11 Challenge is even more stringent, with a 3% daily drawdown limit and a 6% maximum overall drawdown based on relative drawdown calculation. These tight restrictions are designed to identify traders who can consistently perform without taking excessive risks, simulating the kind of risk management required in real-world trading scenarios.
Payouts
Rocket21’s payout system is designed to reward consistent performance. In the Standard Challenge, traders aim for an 8% virtual payout target in the first phase and a 5% target in the second phase. The Apollo11 Challenge sets a higher bar with a 9% virtual payout target. While specific profit split percentages aren’t mentioned on the main page, Rocket21 offers substantial virtual capital – up to $600,000 after completing the evaluation. The company emphasizes that strategies that work in the challenge phases might perform differently in the funded phase, encouraging traders to develop robust, adaptable strategies. It’s worth noting that Rocket21 simulates real market conditions, including slippage and volatility, especially in the funded phase, which can impact actual payouts.
Trading Days
Rocket21 provides a flexible approach to trading days, balancing the need for consistent activity with the realities of market conditions. There’s no maximum time limit to complete the challenges, allowing traders to work at their own pace without unnecessary pressure. However, they do impose minimum trading day requirements. For the Standard Challenge, traders must complete at least five trading days in each phase. The Apollo11 Challenge has a lower requirement of just three minimum trading days. This structure encourages regular trading activity while giving traders the freedom to choose their trading frequency based on market conditions and personal strategy.
Trading Strategies
Rocket21 Challenge allows a variety of trading strategies while prohibiting certain high-risk or manipulative approaches. Scalping and swing trading are permitted, as long as they comply with the firm’s rules. News trading and weekend trading are allowed for swing accounts but restricted for regular accounts. Copy trading is generally not allowed, except in specific circumstances for Apollo11 Challenge participants. High-Frequency Trading, Grid Trading, and Martingale strategies are strictly prohibited. Expert Advisors (EAs) are only permitted in Apollo11 accounts. The firm emphasizes adherence to their Terms of Use and avoidance of strategies that don’t represent real market conditions. Hedging between accounts is not allowed, but trading safe-haven assets and pair trading are acceptable. Rocket21 reserves the right to review trading activity to ensure compliance with their rules and maintain the integrity of their challenges.
Scaling Plan
Rocket21’s scaling plan is a standout feature, offering ambitious traders the opportunity to significantly increase their virtual capital. The plan is designed to reward consistent performance and enable skilled traders to optimize their results. To qualify for a capital increase, a trader must achieve at least 8% net profit in three consecutive monthly cycles. This requirement ensures that only traders who can demonstrate sustained profitability are entrusted with larger amounts of virtual capital. The scaling plan can potentially take a trader’s account up to an impressive $2,000,000 in virtual funds, providing a clear path for growth and increased earning potential for those who can consistently deliver results.
Refund
Rocket21’s refund policy is quite specific and tied to their unique “Revival” feature. While they don’t offer a straightforward refund option for challenge fees, they do provide a second chance through the R21 Revival feature. If a trader breaches the rules in Phase 2 of the Standard Challenge, they can revive their account within 72 hours by paying a reactivation fee. However, it’s important to note that this reactivation fee is non-refundable. Similarly, once a challenge is purchased, the fee becomes non-refundable. This policy encourages traders to carefully consider their readiness before starting a challenge and provides a safety net for those who might have a momentary lapse in performance, without allowing for repeated attempts without consequence.
Rocket21 Review
Features
| Maximum capital | $300,000 |
| Profit split | Up to 90% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | No |
| Free trial | Yes |
| Maximum leverage | 1:100 |
Rocket21 offers a suite of features designed to elevate your trading experience, from an intuitive platform to a supportive community that fosters growth and success
Trading Platform
Rocket21 partners with DXtrade to provide their trading platform, offering a modern and user-friendly trading experience. The platform is web-based, eliminating the need for downloads and allowing traders to access their accounts from any device with an internet connection. DXtrade offers customizable charting tools for technical analysis, fast execution for timely trades, and a flexible interface that traders can set up according to their preferences.
The platform supports multiple languages, making it accessible to a global audience. For USA residents and citizens, DXtrade is the exclusive platform offered. Traders can access their login details directly from their Trader Dashboard home page, streamlining the process of accessing the platform and managing their accounts.
Dashboard
Rocket21 provides traders with a modern, user-friendly dashboard that serves as the central hub for managing their trading journey. While the official website doesn’t provide extensive details about all its features, we can gather that it’s designed to be intuitive and informative. Upon logging in with your email and password, you’ll find real-time updates on your challenge progress, including your stats and performance relative to profit targets. The dashboard is where you’ll access crucial account details, such as your DXtrade platform login credentials. For funded traders, it offers a straightforward way to request payouts, allowing you to select your preferred cryptocurrency and enter your wallet ID. You can monitor your virtual capital, track changes due to trading activity, and likely access challenge rules and support options. Essentially, the Rocket21 dashboard is your personal command center, providing all the necessary information and tools to navigate your challenge or funded account efficiently, keeping you informed and in control of your trading experience.
Education
Rocket21 provides educational resources to help traders enhance their skills and knowledge, primarily through their blog section. The blog is a valuable resource for traders looking to deepen their understanding of various trading topics. It covers a range of subjects, such as comparing different asset classes like Forex and stocks, and offers insights into which might be a better fit for individual trading styles. This educational content is designed to help traders make informed decisions and improve their trading strategies. While the blog offers useful information, it’s important for traders to supplement this with other learning resources to get a well-rounded education in trading.
Community Focus
Rocket21 places a strong emphasis on building a trading community. They organize world tours to meet top traders in person, fostering connections and providing opportunities for traders to learn from each other.
Free Competition
While not extensively detailed on their main page, Rocket21 mentions a free competition feature. This could be an opportunity for traders to test their skills without financial commitment and potentially win prizes or funding.
Support offered
Rocket21 offers a range of support options to assist traders throughout their journey. They provide live chat support for immediate assistance, particularly if traders experience any issues. This live chat feature complements their other support methods, which include email and phone support. Rocket21 emphasizes building a strong trading community and being there for their traders, suggesting a customer-centric approach to support.
R21 Revival Feature
The R21 Revival feature is a unique safety net offered by Rocket21 for traders in the Standard Challenge. If a trader breaches the rules in Phase 2 of the challenge, they have a 72-hour window to revive their account for a fee. While this fee is non-refundable, it provides traders with a valuable second chance if they make a mistake or have an unexpected setback. This feature demonstrates Rocket21’s understanding that even skilled traders can have bad days, and it allows promising traders to continue their journey rather than having to start over completely. However, the non-refundable nature of the fee encourages traders to use this feature judiciously and maintain disciplined trading practices.
Rocket21 Review
Conclusion
Rocket21 offers a unique and exciting opportunity for traders looking to prove their skills with significant virtual capital. With features like a flexible evaluation process, generous scaling plans, and solid support options, they provide a comprehensive platform for both new and experienced traders. The live chat support and educational resources are definite strengths, ensuring traders have the help they need along the way. However, it’s important to monitor the strict drawdown limits and non-refundable fees associated with features like the R21 Revival. Overall, Rocket21 seems to be a promising choice for traders ready to take on the challenge and potentially manage substantial virtual funds.
Rocket21 Review
