RCG Markets Review 2024

1. What is RCG Markets?
2. RCG Markets Pros and Cons
3. Is RCG Markets Safe or a Scam?
4. Leverage
5. Accounts
6. Instruments
7. Fees
8. Spreads
9. Deposits and Withdrawals
10. Trading Platform
11. Customer Support
12. Education
13. Conclusion

Our Review Method

• 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see trading conditions and give expert opinions about RCG Markets.

What is RCG Markets?

RCG Markets is a Forex and CFD trading broker that provides direct market access (DMA) to retail traders, hedge fund managers, and corporates. According to our findings, the broker offers a variety of trading instruments, including Forex, Shares, Metals, Energies, Indices, and Commodities.

Founded in 2018, the company is headquartered in South Africa and holds a license from the reputable FSCA authority. The broker extends its services across the African continent and global markets.

Overall, RCG Markets is a reliable brokerage firm in the Forex trading industry. It provides competitive trading conditions and efficient execution of trades through the widely used MetaTrader trading platform.

RCG Markets Pros and Cons

Per our research, the broker offers several advantages and disadvantages important to consider. On the positive side, RCG Markets provides competitive trading solutions, a low minimum deposit requirement, and access to a well-known MT4 trading platform. Also, as a South African broker, the proposal makes it suitable for traders from the African region overall. Additionally, the broker ensures 24/7 customer support and provides multiple funding options.

For the cons, the broker has a limited number of financial instruments and markets for traders. The availability of research and educational resources is limited too, so beginning traders might better look for more suitable offering.

Overall RCG Markets Ranking

Based on our analysis, RCG Markets provides a trustworthy trading environment with competitive pricing, making it an attractive option for traders. The broker offers access to an advanced trading platform that allows users to trade well-known financial instruments. Additionally, traders can take advantage of the broker’s convenient and streamlined deposit and withdrawal procedures, enhancing their overall trading experience.

• RCG Markets Overall Ranking is 7.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.

RCG Markets Alternative Brokers

Following a comprehensive assessment of various factors, including trading features, regulatory compliance, spreads, trading instruments, and user feedback, we have conducted an analysis and created a list of alternative broker options to consider instead of RCG Markets.

• CapTrader – Competitive Trading Conditions
• WelTrade – Low Pricing
• IG – Wide Range of Trading Instruments

Is RCG Markets Safe or Scam?

No, RCG Markets is not a scam. It is a regulated brokerage company authorized by FSCA in South Africa, which suggests a level of credibility and adherence to certain industry standards.

Is RCG Markets Legit?

Yes, RCG Markets is a legit and regulated broker, even though is not regulated by top-tier regulation. Compliance with the regulatory requirements set by the South African FSCA, which is a rather good regulatory body in the financial industry, enhances the safety and confidence of traders who choose to trade with the broker.

See our conclusion on RCG Markets Reliability:

• Our Ranked RCG Markets Trust Score is 7.5 out of 10 for the good reputation and services provided. However, we recommended conducting your research, reviewing customer feedback, and considering personal factors before deciding to engage with the broker.

Client Trading Protection

According to our findings, FSCA plays a good role in enforcing regulatory compliance within the financial services industry, especially for Africa Trading. The regulatory body ensures the security of clients’ funds by requiring the segregation of funds from company accounts. This practice prevents the use of client funds for operational purposes, adding an extra layer of protection for clients. However, we advise conducting thorough research, including reading user reviews and considering other factors, to assess the broker’s reputation and legitimacy. 

RCG Markets Leverage

Using leverage in trading can be advantageous as it allows traders to access the market with a smaller capital investment. However, it carries the potential for significant gains and losses as well. Therefore, you should have a thorough understanding of how leverage operates and the potential consequences it can bring before engaging in leveraged trading.

Brokers Leverage is offered according to the FSCA regulation:

• Trades from South Africa are eligible to use low leverage up to 1:30 for major currency pairs.
• However, for each account type the broker offers different higher leverage: for RCG Raw Account the maximum leverage is 1:500, for RCG ECN Accounts the broker offers a maximum leverage of 1:1000, and for RCG Classic Accounts the higher leverage is 1:2000.

Account Types

Per our research, the broker offers RCG Classic, RCG RAW, and RCG ECN Account types that might suit needs of different traders. The initial deposit required for all account types is R50 which equals $2,7, which is very attractive opportunity means you can start with any comfortable deposit to you. Besides, at times there is promotion run by the broker to obtain RCG Markets no deposit bonus. 

RCG Markets Open Account Steps

Opening an account with a broker is considered quite easy process, as you can go for RCM Markets login or register account within minutes, also there is an opportunity to test platform and practice trading via RCG Markets demo trading.

To open trading account just follow the opening account or sign-in page and proceed with the guided steps:

• Select and Click on the “Start Trading” page
• Enter the required personal data (Name, email, phone number, etc.)
• Verify your personal data by uploading documentation (residential proof, ID, etc.)
• Complete the electronic quiz confirming your trading experience
• Once your account is activated and proven, follow with the money deposit.

Trading Instruments

RCG provides access to popular trading instruments, such as Forex, CFDs, shares, metals, energies, indices, and commodities. The broker enables traders to diversify their portfolios and participate in various markets according to their individual preferences and trading strategies.

• RCG Markets Trading Markets Range Score is 7 out of 10 for famous trading product selection. On the other hand, we found that many popular asset classes are not available to trade.

RCG Markets Fees

After examining the broker’s fee offering, we found that broker provides competitive pricing for the majority of trading services. While the broker does not charge for deposits and withdrawals, additional fees may be applicable during trading activities. So, carefully review the broker’s fee structure and terms and conditions to gain comprehensive understanding of the associated charges and their potential impact on trading operations.

• RCG Markets Fees are ranked average with an overall rating of 7.5 out of 10 based on our testing and compared to over 500 other brokers.

Spreads

Based on our test trade, the broker provides tight and competitive spreads, with an average spread of 1.5 pips for the EUR/USD currency pair in the Forex market. However, spreads can vary based on market conditions, volatility, and liquidity, so consult the broker’s website or contact their customer support for detailed information on the spreads they offer for specific instruments and account types.

• RCG Markets Spreads are ranked average with an overall rating of 7.5 out of 10 based on our testing comparison to other brokers. Although we found Forex spread for the EUR/USD currency pair is higher than the industry average of 1.2 pips, the spreads for other instruments are considered competitive.

Deposits and Withdrawals

As we found RCG Markets Deposit Methods offer a few options for clients to instant deposit funds into the trading account including Bank Wire, Skrill, Neteller, and more. However, certain funding methods may have specific requirements based on the client’s bank or other financial institutions involved.

• RCG Markets Funding Methods we ranked good with an overall rating of 8 out of 10. Fees are low, and also you can benefit from various account-based currencies.

Here are some good and negative points for RCG Markets funding methods found:

RCG Markets Minimum Deposit

To open a live trading account with the broker, clients need to deposit $2,7 as an initial deposit amount for all account types, which is considered a good offering.

RCG Markets minimum deposit vs other brokers

	RCG Markets	Most Other Brokers
Minimum Deposit	$2,7	$500

RCG Markets Withdrawals

We found that withdrawing funds from your account is easy and fast. Typically, your withdrawal request will be processed within 24 to 48 hours and there is no set by RCG Markets minimum withdrawal, yet indeed amount may vary based on the payment method you choose.

Withdraw Money from RCG Markets Step by Step:

To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:

1. Login to your account
2. Select Withdraw Funds’ in the menu tab
3. Enter the withdrawn amount
4. Choose the withdrawal method
5. Complete the electronic request with necessary requirements
6. Confirm withdrawal information and Submit
7. Check the current status of withdrawal through your Dashboard

Trading Platforms

Traders have access to the popular MetaTrader 4 trading platform while trading at RCG Markets. The platform is widely recognized in the industry for its robust features, user-friendly interfaces, advanced charting tools, and comprehensive trading capabilities.

• RCG Markets Platform is ranked good with an overall rating of 8 out of 10 compared to over 500 other brokers. We mark it as good since it offers the advanced MT4 trading platform, however, the broker does not have any other alternative.

Trading Tools

RCG platform offers a range of charting tools, diverse timeframes, trading signals, technical indicators, and other features. Moreover, MT4 provides automated trading functionality, enabling traders to identify market movements and enhance their market entry and stop-loss strategies.

Customer Support

The broker provides 24/7 customer support through the phone line, RCG Markets live chat, and email, staffed by trading experts who can assist with technical support, analysis recommendations, general inquiries, and operational issues.

• Customer Support in RCG Markets is ranked good with an overall rating of 8.5 out of 10 based on our testing. The support team is responsive during working days and weekends, ensuring efficient assistance.

See our find and ranking on Customer Service Quality:

RCG Markets Education

In the end, the broker’s website lacks comprehensive educational and research materials, seminars, and webinars, providing only a subscription to the newsletter. This limitation may be considered a drawback as robust educational resources play a crucial role in the improvement of traders’ skills and knowledge.

• RCG Education ranked with an overall rating of 5 out of 10 based on our research. We suggest considering alternative brokers that offer a wider range of educational resources, as the broker’s offering is limited and may not be particularly suitable for beginner traders.

RCG Markets Review Conclusion

To sum up, RCG Markets is a reliable Forex trading broker that offers competitive trading solutions, efficient execution, and access to the popular MT4 trading platform. The broker ensures the safety of clients’ funds and provides various payment methods. Another plus is the low minimum deposit requirement and 24/7 customer support.

However, the broker has limited educational resources and research materials, which may not be ideal for beginner traders.

Overall, we found that the broker provides a good trading environment, however, we advise conducting your research and evaluating whether the broker’s offerings suit your specific trading requirements.

Based on Our findings and Financial Expert Opinions RCG Markets is Good for:

• Traders from South Africa and the African Region
• International traders
• Traders who prefer the MT4 trading platform
• Currency trading
• Beginners
• Advanced traders
• ECN/STP execution
• Competitive spreads and fees
• 24/7 customer support
• Good trading tools