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 FXTM and RCG Markets offer almost similar trading services. However, there are differences in their regulations, reputations, and operations. FXTM is regulated in one tier-1 jurisdictions, one tier-2 jurisdictions, and two tier-4 jurisdictions including FSC (Mauritius), CySEC , FSA-S, 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.
FXTM vs RCG Markets: In a Nutshell
FXTM
Founded in 2011, FXTM is a forex and CFD broker that offers online trading services globally. The broker is regulated by multiple regulatory authorities including ASIC, IIROC, FFAJ, MFSA, MAS, FCA, CFTC, NFA, BVI FSC. The broker has 10000+ trading instruments including forex, CFDs, Stocks, Commodities like gold, silver, and oil, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The broker offers most popular trading platforms like MT4 and MT5. FXTM serves clients from over 150 countries and has over 45 industry awards for excellent services.
FXTM Overview
- Founded In: 2011
- Founder: Andre Dashin
- Headquarters: Mauritius
- Minimum Deposit: $10
- Maximum Leverage: 1:2000
- Regulations: FSC (Mauritius)
- Trading platform:MT4, MT5 and Mobile Trading
- Account Types: Micro, Advantage, Advantage Plus
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
- 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.
- 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
FXTM vs : RCG Markets Features
- Trading Instruments: FX, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5)
- Maximum leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
- Minimum Deposit. 100 Euros, US dollars or British pounds
- Account Types: Two (Advantage and Advantage Plus
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($35 per million per side) for the Advantage account and 1.5 pips (No commission) for the Advantage plus account.
- PAMM/ MAM: Allowed
- 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
FXTM vs RCG Markets: Pros and Cons
FXTM
- FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA)
- Minimum deposit is $10
- The Maximum leverage is as high as 1:2000
- Ultra-low spreads starting from as low as 0 pips
- Offers Copy Trading & MAM Accounts
- A wide range of trading instruments
- Negative balance protection for EU Clients
- Over 30 Payment Methods
- Inactivity and withdrawal fees
- Does not support Myfxbook or ZuluTrader options for social trading
- No futures or options trading
- No negative balance protection for Non-EU Clients
- Most withdrawal options have a fee
- Large spread on standard Account
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.
FXTM vs RCG Markets: Side-by-Side Comparison
FXTM Vs RCG Markets: Our Scores and Ratings
We rated both brokers, FXTM 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.
FXTM :
RCG Markets
Final Verdict :
FXTM 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 FXTM is $10. whereas the minimum deposit for RCG Markets is $100. Additionally, the maximum leverage for the FXTM is 2000:1. In contrast, the maximum leverage for RCG Markets is 400:1.
Our score for FXTM is 8.6, 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 FXTM. However, if you prefer a forex broker that offers similar services, you may choose RCG Markets.