RCG Markets is the best trading platform showcasing top-performing floating shares and global currencies using the MT4 platform. The customer-centric support team provides a range of quick deposit and withdrawal options, all backed by the broker’s cutting-edge technology, ensuring optimal performance for traders.
| NAME | RCG Markets |
| YEAR FOUNDED | 2018 |
| HEAD OFFICE | South Africa |
| FINANCIAL REGULATORY BODY | FSCA |
| INSTITUTIONAL ACCOUNTS | YES |
| ISLAMIC ACCOUNT | NO |
| MINIMUM DEPOSIT | $5000 |
| DEMO ACCOUNT | YES |
| WITHDRAWAL OPTIONS |
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| DEPOSIT OPTIONS |
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| PLATFORMS PROVIDED |
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| CUSTOMER SERVICE | 24*7 |
| MAXIMUM LEVERAGE | 1:2000 |
What is RCG Markets?
RCG MARKETS, founded in 2018, operates as an intermediary financial services provider, striving to offer the best trading solutions to its clients. The company offers direct market access for executing trades in various CFDs and FX to cater to individuals, professional money managers, and corporations. The owner of RCG Markets is Lebo Craig.
While it claims to hold licensing and authorisation from the South Africa Financial Sector Conduct Authority (FSCA: FSP49769), it’s important to note that this regulatory status needs to meet the standards of popular regulatory agencies, suggesting that the broker lacks legal oversight.
We Recommend RCG Markets For?
RCG presents the best collection of trading platforms and a diverse range of tradable assets. However, the platform requires a minimum deposit of $5,000, which may not be ideal for those new to trading, especially considering the performance of their initial investments.
The free Demo account RCG provides is limited to a 14-day trial period, potentially dissuading traders just beginning their trading journey.
As a result, RCG Markets is best suited for experienced traders. The broker offers lower spreads and generous leverage, providing ample liquidity and profit potential and carrying higher associated risks.
Is RCG Markets a Regulated Broker?
Indeed, RCG Markets comes out as a regulated broker as RCG MARKETS (Pty) Ltd is a registered company in South Africa, bearing the registration number 2018/079334/07. It functions as an Authorized Financial Services Provider, officially recognised by the Financial Sector Conduct Authority with the registration number FSP49769.
RCG Markets Account Types
RCG Markets provides three distinct account options: Classic, Raw, and ECN. Each has its own unique set of features, and RCG Markets tailors each account to cater to varying trading preferences and requirements. The RCG Markets Classic, RCG Markets Raw account, and RCG Markets Royal 100 Accounts do not impose commission fees, whereas the ECN account requires a $7 commission. The available leverage differs among these account types.
| ACCOUNT NAME | SPREADS | LEVERAGE | COMMISSIONS | PLATFORMS |
| RCG CLASSIC | 1.5 | 2000 | $0 | MT4 |
| RCG RAW | 0.0 | 500 | $0 | MT4 |
| RCG ECN | 0.0 | 1000 | $7 | MT4 |
| ROYAL 100 | 1.5 | 500 | $0 | MT4 |
Demo Account
The broker also provides a complimentary demo account; however, it’s important to note that this account has a shorter validity period of 14 days, limiting extended learning opportunities. In comparison, many other brokers typically offer demo accounts that remain accessible for at least 30 days. A few of these brokers are Mitrade.
Leverage
RCG provides different maximum leverage options based on the account type, with RCG Markets ensuring traders have flexibility and choice to suit their trading strategies and risk tolerance. For RCG Classic accounts, the maximum leverage is set at 1:2000, while RCG RAW accounts offer a maximum leverage of 1:500. RCG ECN accounts come with a maximum leverage of 1:1000. Royal 100 comes with a maximum leverage of 500.
It’s crucial to be aware that leverage can increase both potential gains and losses, making it essential for traders to exercise caution when utilising leverage in their trading activities.
RCG Markets Registration
STEP 1. Choose your preferred account type for trading.
STEP 2. Enter your login details and complete the necessary information.
STEP 3. Complete the required document submissions in the provided form.
STEP 4. Electronically sign into your account.
STEP 5. Submit your application for the account.
STEP 6. Start your trading activities!
RCG Markets Login
The broker offers two types of Login:
- Client Login
- Partner Login
You can log in by entering your Email ID and Password. With Partner Login, you login as an Introducing broker.
Trading Assets at RCG Markets
RCG claims that trading with the broker will assure you of the following-
- High-performing stocks
- Swift deposit and withdrawal processes
- Immediate trade execution
- A team of committed support professionals
- A variety of available financial instruments
- Abundant liquidity
- Execution of trades through ECN & STP
| METALS | AGRICULTURE COMMODITIES | SOFT COMMODITIES | FOREX | ENERGIES | FIXED INCOME | STOCK INDICES |
| Precious or Industrial metals | Cattle and hog futures | Food and Fibre Products | Various currency pairs | Crude Oil Futures come in both WTI and Brent varieties | The oldest financial futures contract is the US Treasury Bond | US Stock market, select from broad indexes |
| Gold, Silver, Platinum, Palladium, copper and aluminium futures | Corn, wheat, soybean, meat and Oil | Sugar, Coffee, Cocoa and Cotton | US Dollar, Euro, Pound Sterling, Japanese Yen | Heating oil and Gasoline | T-notes, EuroDollar
Euribor |
DowJones
NASDAQ S&P 500 |
Trading Instruments at RCG Markets
Traders can use the renowned MetaTrader 4 trading platform, which is widely acknowledged in the industry for its robust functionalities, user-friendly interfaces, advanced charting tools, and best trading capabilities.
RCG broker also offers advanced trading tools that are not usually available in the market. For more advanced tools, look for Trade245.
Mobile Application
RCG Markets provides a mobile app for efficient trading, ensuring traders can access the markets anytime and anywhere with RCG Markets. When we downloaded the app, we discovered it is only compatible with Android devices and doesn’t support IOS compatibility. You can look for the best IFX Broker for a mobile application that supports Android and IOS.
Fees and Commissions
RCG Markets does not impose deposit or withdrawal fees; however, a nominal fee is applied to inactive accounts with RCG Markets.
| Account Types | Classic | Raw | ECN |
| Commission | $0 | $0 | $7 |
Deposits and Withdrawals
RCG has set a minimum deposit at $5,000, and it offers the following options for both deposits and withdrawals:
- Bank Wire Transfer
- Ozow, PayStack, Skrill, Neteller, VirtualPay
- Cheques (only accepted from U.S. banking institutions)
Unfortunately, the broker does not support more widely used payment methods like E-wallets or credit/debit cards. It does not accept cash deposits, money orders, foreign cheques, or other similar payment methods. The broker does not specify the accepted currency for deposits, which is crucial information. Lexatrade specifies and offers a wide range of deposit and withdrawal options.
Steps to Withdrawal at RCG Markets:
STEP 1. Access your RCG account by logging in.
STEP 2. Proceed to the “Withdrawal” section within your account.
STEP 3. Select your preferred withdrawal method, including options like bank transfers or e-wallets.
STEP 4. Input the desired withdrawal amount.
STEP 5. Supply any essential information, such as bank account particulars or e-wallet identification.
STEP 6. Verify and confirm your withdrawal request.
Pros and Cons of RCG Markets
| PROS | CONS |
| MT4 platform and several other Advanced Trading Platforms | Lack of Research Resources |
| Several Trading Assets | Lacks Swap-free or Islamic Account |
| A selection of $0-commission accounts | |
| Mobile Application technology available | |
| Flexible leverage depending on your trading trajectory | |
| 24-48 hour withdrawals, available for your convenience | |
| Customer Support 24*7 |
Customer Support
There are various routes to reach the customer service team, including phone, email, and live chat for client support. However, it’s important to note that customer service operates during restricted hours and is unavailable around the clock.
Every client is assigned a dedicated account manager for personalised assistance. Nonetheless, there is no 24/7 customer support, and we have reported experiencing delays in response times while calling or emailing the broker. For 24*7 customer support, try Vault Markets.
Address: RCG Markets, 13th Floor,
Green Park Corner, 3 Lower Road,
Sandown, Gauteng, 2196
Contact Number: +27 (10)0075974
WhatsApp Number: +27 82 401 6338
Email: [email protected]
Conclusion
RCG MARKETS is a brokerage offering an extensive array of trading instruments alongside competitive trading terms, various account types, and flexible payment options. Their MT4 platform stands out as a popular selection among traders. However, it’s crucial to acknowledge that their FSCA license has lapsed, potentially prompting concerns regarding regulatory adherence.
Furthermore, RCG MARKETS might not cater effectively to traders seeking comprehensive educational support for their trading endeavours.
RCG MARKETS could be suitable for seasoned traders prioritizing competitive trading terms and diverse trading instruments over regulatory conformity and educational resources. As with any brokerage, traders must conduct their own research and due diligence before initiating an account.
