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

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Written by
Ryan Hardy sitting before his forex trading desk
Fact Checked by
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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 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

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.

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

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

Pros
  • 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 
Cons
  • 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

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.

FXTM vs RCG Markets: Side-by-Side Comparison

FXTM
RCG Markets
Product
Product
FXTM
RCG Markets
Founded In
Founded In
2011
2018
Founded By
Founded By
Andre Dashin
Not Found
Headquarters
Headquarters
Limassol, Cyprus
Gauteng, South Africa
Regulations
Regulations
CySEC, CMA, FCA, FSCA, FSC-Mauritius
FSCA
Min Deposit
Min Deposit
$10
R50
Max Leverage
Max Leverage
3000:1
1:2000
Tradable Assets
Tradable Assets
Forex, Metals, Stocks, Commodities, Indices, cryptocurrency
Forex, indices, Shares, Commodities, and Energies
Fees
Fees
Spread starting from 1.5 pips or commission $3.5
Spread from 1.5 pips, commissions $7/round lot
Platforms and Tools
Platforms and Tools
MT4, MT5 and Mobile Trading
MT4,MT5
US Traders
US Traders
Not Allowed
Not Allowed

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 :

8.6
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)8
Trading (15%)7.8
Trading tools (10%)7
Customer Support (10%)9
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 :

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.

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.

Fact Checked by
Ryan Hardy is a Content Writer, Researcher, and Fact Checker at Brokersway. Specializing in forex trading, he focuses on ensuring accuracy in information related to broker regulations, scams, and safety measures. With a commitment to transparency, Ryan plays a vital role in providing traders with reliable insights into the world  of forex brokers
Edited by

Richard Walz, a seasoned content writer and broker’s research specialist, is your go-to authority for decoding online forex brokers and trading platforms. As an editor, he ensures precision and clarity, offering traders valuable insights on Brokersway, a trusted resource for informed decision-making in the dynamic world of currency trading. Richard's role as an editor ensures that the information presented is not only accurate but also presented in a manner that resonates with traders seeking clarity in making better decision.

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