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 Pepperstone and RCG offer almost similar trading services. However, there are differences in their regulations reputations, and operations. Pepperstone is regulated in three Tier-1, two Tier-2, and two Tier-4 jurisdictions, including FCA, ASIC, CySEC, DFSA, CMA, and SCB. On the other hand, RCG 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.
Pepperstone vs RCG MARKETS: Overview
Pepperstone:
Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is an Australian-based forex and CFD broker that offers online trading services globally. The broker has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau, and Nairobi. Pepperstone gives you access to trade more than 1,200 forex/CFDs on its powerful platforms: MT4, MT5, cTrader, and TradingView. With its technological infrastructure, Pepperstone offers lightning-speed executions, multiple trading tools, and low trading fees. It is regulated in seven jurisdictions and boasts over 400,000 clients from all over the world. To learn more, you can read our review on Pepperstone, where we have covered its features, pros, cons, ratings, and more
Pepperstone At a Glance
- Founded In: 2010
- Founder: Owen Kerr and Joe Davenport
- Headquarters : Melbourne, Australia,
- Minimum Deposit: None (However, Pepperstone recommends $200 or equivalent for margin requirements.
- Maximum Leverage: Upto 30:1 for ASIC, CySEC, FCA, BaFin, and DFSA jurisdictions, 400:1 for CMA, 200:1 for SCB, and 500:1 for Professional Accounts
- Regulations: FCA, ASIC, CySEC, BaFIN, DFSA, CMA, and SCB
- Trading platform: MT4, MT5, cTrader, TradingView
- Account Types: Standard, Standard (cTrader/MetaTrader 4&5), Razor (MT4, MT5, cTrader & TradingView)
- Trading Styles: All including Scalping, Hedging, News Trading, EA Trading
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Local Bank Transfers, M-Pesa, Neteller, PayPal, Poli, Skrill, 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
Pepperstone vs RCG Markets: Features
Pepperstone:
- Trading Instruments: 1250+Trading instruments including Forex, Commodities, Cryptocurrencies, Shares/Stocks CFDs, etc
- Maximum leverage: 1:30 for retail traders of ASIC, CySEC, FCA, and BaFin jurisdictions, 1:200 for SCB Jurisdiction, 1:400 for CMA Jurisdiction, and 1:500 for professional traders.
- Minimum Deposit: No Minimum Deposit. However, Pepperstone recommends $200 or equivalent for the margin requirement.
- Account Types: Two ( Standard account, Razor Account)
- Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip.
- PAMM/ MAM: 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
Pepperstone vs RCG MARKETS: Pros and Cons
Pepperstone
- Regulated in 7 Reputed Jurisdictions (FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA in Kenya, and SCB in the Bahamas)
- Fast order execution (fast execution on an average of 30 ms)
- Competitive spread starting from 0.0 pips
- Segregated clients fund with tire 1 bank
- No Inactivity Fees
- Attractive Trading Conditions
- Wide Range of Instruments Offered
- Fast and full online account opening
- MT4 Smart trader tools, Autochartist, Capitalise.ai, and free VPS are some of the trading tools available.
- US Traders not allowed
- Only CFDs are Offered
- No cent/Micro Account
- Minimum deposit 200
- Support works only 24/5
- Limited account protection for non-U.K./E.U. clients
- No guaranteed Stop loss
- 30-day expiry for demo accounts
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.
Pepperstone vs RCG MARKETS: Side-by-Side Comparison
Pepperstone Vs RCG MARKETS: Our Scores and Ratings
We rated both brokers, Pepperstone 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.
Pepperstone :
RCG MARKETS:
Final Verdict :
Pepertone 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 Pepperstone is $0 (with $200 recommended). whereas the minimum deposit for RCG is $100. Additionally, the maximum leverage for Pepperstone is 500:1 for professional traders and 200:1 for retail traders. In contrast, the maximum leverage for RCG is 400:1. Pepperstone offers passive investment programs like MAM and PAMM, while RCG does not have any passive investment programs.
Our score for Pepperstone is 9.4, and for RCG, it is 7. So, if you are looking for the most trusted forex brokers with MAM and PAMM services, you may choose Pepperstone. However, if you prefer high-leverage forex brokers that offer similar services, you may choose RCG.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
