Top 3 Forex Brokers
Beware RCM FX is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- RCM FX User Reviews
- RCM FX News
Is RCM FX Scam or Legit Broker?
No, it is not safe to trade with RCM FX. RCM FX is owned by Regal Core Markets Limited which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.
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Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, pay a fee, and within 2-3 months, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as IC Finance, OlympusMarkets, and more.
About RCM FX
| 🗺️ Registered in | Vanuatu |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is RCM FX safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
What is RCM FX?
As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their businesses. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.
- The company doesn't provide any contact address or phone number. Clients or potential investors can only contact the support team through the online request form, which doesn't seem very reliable. Also, besides the English language, the website supports the Chinese language. Most probably RCM FX has been targeting Chinese residents (without being authorized in the country).
RCM FX Review Conclusion
We advise all investors and traders to avoid RCM FX and other brokers from Vanuatu. Very often unregulated or offshore brokers run investment scams. Thus, we advise traders not to trust attractive offerings and promises and instead find a reliable broker with tight regulations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM (See the Forextime Review).
RCM FX Update
Recently RCM FX website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.
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