CMC Markets vs RCG Markets | Fees, Features, Safety & More 2024

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Forex traders are constantly looking for a better broker with excellent services to suit their strategies and trading preferences. With over a thousand online forex brokers, making the right choice is becoming an uphill task. Both CMC Markets  and RCG Markets offer almost similar trading services. However, there are differences in their regulations, reputations, and operations. CMC Markets  is regulated in five tier-1 jurisdictions, including FCA, MAS, ASIC, IIROC, FMA. On the other hand, RCG Markets is regulated by CIMA and FSCA. Each of the brokers has its strengths and weaknesses.

In this review, we will analyze and compare the two brokers. We will also explore fees, features, trading platforms, and the pros and cons of each broker to enable traders to make the right choices.

CMC Markets vs RCG Markets: In a Nutshell

CMC Markets

Founded in 1989, CMC Markets is a publicly traded broker (Ticker: CMCX). The broker is regulated in the UK, Australia, Canada, and Singapore. It offers over 9800 trading instruments, including Forex, Indices, Cryptocurrencies, Shares & ETFs, and Commodities. There is no minimum deposit requirement on IC Markets; you may deposit as low as $1. CMC Markets allows EA trading and news trading. The broker uses the most popular trading ust Marketsplatform, MetaTrader (MT4), as its trading platform.

RCG Markets Overview
  • Founded In: 2018
  • Minimum Deposit: R100
  • Maximum Leverage: 1:3000
  • Regulations:SEC, FINRA, and FCA
  • Trading platform: MT4, MT5
  • Account Types: Classic, Raw, ECN, Royal100
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AdvCash, BitPay, bitwallet, ecoPayz, ePayments, FasaPay, Help2Pay, Neteller, Payfinder, Skrill, SticPay, TransfterMate, TroniPay, UnionPay, Uphold
  • US Traders: Not Accept

RCG Markets

Established in 2018, RCG Markets is a South Africa-based forex and CFD broker that offers online trading services. While licensed by the South Africa Financial Sector Conduct Authority (FSCA: FSP49769), it lacks regulation from other major regulatory bodies. The broker offers a wide range of trading instruments including forex, indices, shares, commodities, and energies. The broker provides access to the MT4 platform with competitive spreads and commissions.

CMC Markets vs: RCG Markets Features

CMC Markets

  • Trading Instruments: 12000+ trading instruments including forex, indices, Cryptocurrencies, Commodities, Shares, Share baskets, Treasuries, etc 
  • Maximum leverage:  Up to 30:1 ( FCA, ASIC), up to 1:50 (IIROC), and up to 500:1 for a professional account.
  • Minimum Deposit: No Minimum Deposit. However, Pepperstone recommends $200 or equivalent for the margin requirement. 
  • Account Types: Three (Spread Betting Account, CFD Account, Corporate Account)
  • Trading Fees: only Spread is charged (Commission is only for Shares account). Variable spreads from 0.3 pips. A rollover commission is applied on open positions overnight. For the Shares account commission starts from $7. 
  • PAMM/ MAM:  Not Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

RCG Markets

  • Trading Instruments: A wide range of trading instruments including Forex, Indices, Shares, Commodities, and Energies. 
  • Maximum Leverage: The maximum leverage of RCG Markets is as high as 2000:1. However, leverage may vary based on tradable assets and account types
  • Minimum Deposit: The minimum deposit of RCF markets is as low as R50
  • Account Types: Four ( RCG Classic Account, RCG RAW, RCG ECN Account, ROYAL 100) 
  • Trading Fees: Spread starting from 1.5 pips for the RCG Classic Account and RCG Royal Account; commission of $7 for the RCG ECN Account. No commission and no spread for the RCG Raw Account
  • PAMM/ MAM:  Not Available
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

CMC Markets vs RCG Markets: Side By Side Comparison

CMC Markets
RCG Markets
Product
Product
CMC Markets
RCG Markets
Founded In
Founded In
1989
2018
Founded By
Founded By
Peter Andrew Cruddas, Baron Cruddas
Not Found
Headquarters
Headquarters
London, United Kingdom
Gauteng, South Africa
Regulations
Regulations
FCA, ASIC, BaFin, IIROC, FMA, MAS
FSCA
Min Deposit
Min Deposit
None
R50
Max Leverage
Max Leverage
1:500
1:2000
Tradable Assets
Tradable Assets
Forex Major, Forex Crosses, Forex Minor, Metals, Oil , CFD, Stock indices
Forex, indices, Shares, Commodities, and Energies
Fees
Fees
Spread starting from 0.3 pips or commission $10
Spread from 1.5 pips, commissions $7/round lot
Platforms and Tools
Platforms and Tools
MT4 , Share trading platforms
MT4, MT5
US Traders
US Traders
Not Allowed
Not Allowed

CMC Markets vs RCG Markets: Pros and Cons

CMC Markets Pros & Cons

Pros
  • Regulated by FCA, ASIC, IIROC, MAS, FMA
  • Founded in 1989, CMC Markets is publicly traded company
  • The minimum deposit is as low as $1 
  • Comparatively low spread starting from 0.7 pips
  • Allows news trading, EA/Robot trading
  • Extensive range of tradable assets 
  • Excellent education and research resources
Cons
  • Offered only MT4, no MT5, cTrader trading platforms 
  • Maximum leverage is only 1:300
  •  No passive investment programme or social trading platforms ( No PAMM, MAM accounts) 
  •  Does not accept US clients
  • Only CFD Trading 
  • High CFD spreads for certain Indices 
  • Spread betting only for UK residents

RCG Markets Pros & Cons

Pros
  • Regulated by FSCA.
  • Offers 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.

CMC Markets Vs RCG Markets: Our Scores and Ratings

We rated both brokers, CMC Markets and RCG Markets, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

CMC Markets:

9.0
CMC Markets Score
Regulation and Security (40%)9.7
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)9.5
Trading Education (5%)9

RCG Markets

7
RCG Markets Scores
Regulation and Security (40%)5
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)8
Trading Education (5%)7

Final Verdict :

CMC Markets  and RCG Markets are forex and CFD brokers. They offer similar trading services. Both brokers allow scalping, EA trading, Copy Trading, hedging, etc. The minimum lot size for both brokers is as low as 0.01. 

However, there are differences in some areas. For example, the minimum deposit for CMC Markets  is $0.  whereas the minimum deposit for RCG Markets is $100. Additionally, the maximum leverage for the CMC Markets  is 300:1. In contrast, the maximum leverage for RCG Markets is 400:1. 

Our score for CMC Markets  is 9.0, and for RCG Markets, it is 7.0 So, if you are looking for the most trusted forex brokers with low spreads, you may choose CMC Markets . However, if you prefer a forex broker that offers similar services, you may choose RCG Markets.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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