Hey everyone, I need your advice. I recently purchased a $200,000 Apollo account with Rocket21 because I hit my funding limit with my other firm, Maven (who are great, by the way). Here’s the problem: on my $200k account, I can only take a maximum position of 2.5 lots. With a 30-pip stop loss, my maximum risk is $750, which is just 0.37% risk per trade. This doesn’t seem right; I’d need an 80-pip stop to risk 1% of my account balance. They advertise 1:5 leverage for indices and 1:10 for gold. You can see the discrepancy in margin usage in my screenshots. Maven also offers 1:5 leverage, and I can risk about 1% on a 30-pip stop with no issues. Rocket21’s support staff isn’t being helpful, so I’m hoping someone here can explain or offer a solution. I hope I’m wrong, but this feels a bit scammy. Thanks in advance for your help.
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That prop firm is widely recognized in Spanish-speaking countries because the YouTuber “Capelo Trading” has exposed their practices of manipulating spreads to drive profitable traders away, along with other questionable activities.
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Rocket21 is fraudulent.