RCG Markets Review: Features, Pros, Cons, and More 2024!

RCG Markets is a forex and CFD broker that provides online trading services globally. Based in Cayman Islands, it is regulated by top regulatory authorities including CIMA, FSCA. RCG Markets offers a variety of trading instruments, including Forex ,Indices, Share,Commodities and Energies.  It supports popular trading platforms and tools such as MT4, MT5, and cTrader.

Though RCG Markets is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at RCG Markets, exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether RCG Markets is the right broker for your trading needs and preferences.

What is RCG Markets?

Established in 2018, RCG MARKETS offers direct market access for CFDs and FX trading. While licensed by the South Africa Financial Sector Conduct Authority (FSCA: FSP49769), it lacks regulation from other major regulatory bodies. The broker provides access to the MT4 platform with competitive spreads and commissions.

 

Key Features:

• Applicable For: Applicable for all jurisdictions including CIMA, FSCA
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 
• Trading Instruments: Forex ,Indices, Share,Commodities and Energies. 
• Trading Platforms: MT4, MT5, cTrade, and Currenex.
• Minimum Deposit: R50
• Maximum Leverage: 1:2000
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips for the RCG RAW Account, $7 per lot for the RCG ECN account and $7 per lot for the RCG Royal100 account.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction per Ticket): 100 Lots 
• Funding Currencies: 
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, and EA Trading. 
• Stop Out Level (retail): 20%
• Margin Call Level: 40% 
• Negative balance Protection: Yes 
• Investor Protection:  Available under CIMA and FSCA regulations. However, the Investor protection scheme does not apply to FSA jurisdiction. 

RCG Markets Pros and Cons

Pros:

• Regulated by FSCA.
• Offers a popular trading platform (MT4).
• The maximum leverage is as high as 2000:1.
• Allows EA trading, scalping, and News trading.
• Spreads starting from as low as 0 pips.
• Offers multiple account types.
• Provides ECN Executions.
• A wide range of trading instruments are offered including Forex, Indices, Shares, Commodities, and Energies.

Cons:

• Lack of Regulatory Oversight (Only regulated by FSCA in South Africa).
• The demo account is only valid for 14 days.
• Limited Trading Platforms.
• Limited research and educational resources.
• No Social Trading Options.

Our Ratings for RCG Markets:

Review and Reputation on Public Domains:

Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process

RCG Markets Ratings and Reviews from Trustpilot:

RCG Markets has earned a rating of 4.8 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

RCG Markets Ratings and Reviews from Forex Peace Army:

RCG Markets has achieved an average rating of 3.8 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.

Final Verdict:

RCG Markets is a regulated forex and CFD broker that offers its trading services to traders and investors worldwide. It provides a wide range of trading instruments, including Forex ,Indices, Share,Commodities and Energies. The broker’s spreads start from as low as 0.0 pips, and it offers high leverage (up to 1:2000) and a low minimum deposit (as low as R50). With top-tier regulations, a variety of trading instruments, high leverage, low minimum deposit, fast execution, and flexible account types, RCG Markets can be a good choice for many traders.

However, the broker does not accept US clients. It also does not have any investor protection scheme for non-UK/EU traders. Additionally, RCG Markets does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives. 

If you are a forex and CFD trader looking for a trusted broker, RCG Markets can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading.