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 FP Markets and RCG Markets offer almost similar trading services. However, there are differences in their regulations, reputations, and operations. FP Markets is regulated in two tier-1 jurisdictions, one tier-2 jurisdictions and one tier -4 jurisdictions including ASIC, CySEC, SVGFSA, FSCA. 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.
FP Markets vs RCG Markets: In a Nutshell
FP Markets
Established in 2005, FP Markets is an Australian-based forex and CFD broker that offers online trading services worldwide. It is a global brand regulated by multiple authorities, including ASIC, CySEC, SVG, FSA, and FSCA. The broker provides traders access to more than 10,000 trading instruments on its four platforms: MT4, MT5, IREAA, and cTrader. It also provides access to tools like Autochartist, Trading Central, free VPS, social trading, and more. FP Markets is a low-cost forex broker with spreads as low as 0.0 pips.
FP Markets Overview
- Founded In: 2005
- Founder: Matthew Murphy
- Headquarters: Sydney, Australia
- Minimum Deposit: 100 AUD or equivalent.
- Maximum Leverage: 500:1
- Regulations: ASIC, CySEC, FSCA, FSA
- Trading platform: MT4, MT5 and Ctrader
- Account Types: Islamic, Account Funding, Fund withdraw
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay
- US Clients: Not Accepted
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.
- 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
FP Markets vs : RCG Markets Features
FP Markets:
- Trading Instruments: 10000+ trading instruments including Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs,
- Maximum leverage: up to 1:500
- Minimum Deposit: 100 AUS or equivalent.
- Account Types: Offers 2 account types: Standard, Raw
- Fees: starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
- PAMM/ MAM: Yes,
- Zulutrade: Yes
- 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
FP Markets vs RCG Markets: Pros and Cons
FP Markets
- Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP
- The Maximum leverage is 1:500
- Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
- Hedging, Scalping, EA/Robot, and Copy trading are allowed
- Easy, Fast and Digital account opening
- Offers passive investment programs like MAM, PAMM Accounts
- Faster order execution (40ms)
- FP Markets offers consistently tighter spreads from 0.0 pips
- No FCA regulation.
- The Minimum deposit is $100, which might be high for a beginner
- High Stock CFD fees
- US traders are not accepted
- Only two types of accounts ( Standard, Raw)
RCG Markets
- 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.
- 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.
FP Markets vs RCG Markets: Side-by-Side Comparison
FP Markets Vs RCG Markets: Our Scores and Ratings
We rated both brokers, FP 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.
FP Markets :
RCG Markets
Final Verdict :
FP 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 FP Markets is $100. whereas the minimum deposit for RCG Markets is $100. Additionally, the maximum leverage for the FP Markets is 500:1. In contrast, the maximum leverage for RCG Markets is 400:1.
Our score for FP Markets is 9.2, 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 FP Markets. However, if you prefer a forex broker that offers similar services, you may choose RCG Markets.
