Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
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RCG Markets Pros & Cons
- The broker is licensed by the FSCA;
- MetaTrader 4 and MetaTrader 5 are available for trading;
- Minimum deposit is ZAR 50;
- Floating spreads for all asset types;
- Good range of currency pairs and stock indices;
- The broker doesn’t charge deposit or withdrawal fees.
- The broker doesn’t provide its services in all countries and regions;
- CFDs on cryptocurrencies are not available and stock markets are limited;
- PAMM and MAM accounts are not available.
RCG Markets is an STP (straight-through processing) and ECN (Electronic Communication Network) broker headquartered in Johannesburg, South Africa. It was established in 2018 and has been operating under the supervision of the FSCA (Financial Sector Conduct Authority | South Africa) since 2021. RCG Markets offers four account types, such as classics MT4 and MT5, and accounts with near-zero spreads for trading on MT4. The broker supports margin trading with high leverage and yet provides negative balance protection. Automated strategies, hedging, and trading on a demo account are available to its clients. RCG Markets requires a small initial deposit and occasionally offers bonuses to new clients.
TU Expert Verdict
RCG Markets carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
RCG Markets User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria6 /10The trading and non-trading commissions of RCG Markets have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- Deposit fee applies
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of RCG Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, RCG Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
RCG Markets Standard spreads RCG Markets OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.4 0.5 1.2 GPB/USD min, pips 0.4 0.1 0.9 GPB/USD max, pips 0.7 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
RCG Markets RAW/ECN spreads RCG Markets OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3.50 3.5 5 EUR/USD avg spread 0.10 0.15 0.2 GBP/USD avg spread 0.15 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with RCG Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
RCG Markets Non-Trading Fees RCG Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0.5 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0.5 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is RCG Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria5.8 /10RCG Markets has a safety score of 5.8/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Not tier-1 regulated
RCG Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level FSCA SA
Full Name Financial Sector Conduct Authority of South Africa Country of regulation South Africa Investor Protection Fund No specific fund Regulation Level Tier-2 RCG Markets Security Factors Foundation date 2022 Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5.4 /10RCG Markets offers the following account options: Standard, ECN/Raw spread.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Standard account with balanced trading conditions
- Low minimum deposit
- Tight spread ECN account
- No Cent account
- No Demo account
RCG Markets account types vs top competitors RCG Markets Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo NoYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoRCG Markets accounts trading conditions
To make trading through RCG Markets efficient and profitable, it is important to correctly choose the account type. The broker offers various options based on the needs of experienced market participants and Forex novice traders. Also, traders can choose the account type for trading on MT4 and MT5. Each client can have several account types in ZAR, USD, and GBP.
Account types:
Account Type Description RCG Classic It is an account type for MT4 without trading fees. Traders only pay floating spreads that start at 1.5 pips. Execution is STP. The Classic account is suitable for traders with any experience. RCG RAW This is an MT4 account type with no trading fees and spreads from 0 pips. Execution speed is higher than that on the Classic account, but leverage is lower. RCG ECN This is an account type for professional trading with near-zero spreads. Fees per lot are charged. The ECN account offers the highest order execution speed and the best prices from liquidity providers. ROYAL 100 It is a new account type available since October 2023. It allows traders to work on a more advanced MT5 platform. The minimum spread is 1.5 pips without additional trading fees. This is the only account type where bonuses are available. Prior to opening a live account, traders can create a demo account with a virtual deposit. On MT4, virtual funds are $100,000; and on MT5, it’s $10,000. A demo account is valid for 30 days.
The broker offers a wide range of account types with different executions, which allows traders to switch to a more profitable strategy and, in general, permits them to react faster to market changes.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5.9 /10RCG Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
RCG Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- USDT (Tether) supported
- Bank wire transfers available
- Low minimum withdrawal requirement
- Bitcoin (BTC) accepted
- No bank card option
- Withdrawal fee applies
- Wise not supported
What are RCG Markets deposit and withdrawal options?
RCG Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
RCG Markets Deposit and Withdrawal Methods vs Competitors RCG Markets Plus500 Trading.com Bank Wire YesYesYesBank card NoYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are RCG Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. RCG Markets supports the following base account currencies: USD, GBP, ZAR, Bitcoin.
What are RCG Markets's minimum deposit and withdrawal amounts?
The minimum deposit on RCG Markets is $1, while the minimum withdrawal amount is $100. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact RCG Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.5 /10RCG Markets offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 70 Forex pairs.
- Indices trading
- Copy trading platform
- 70 supported currency pairs
- Limited asset selection
- Bonds not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by RCG Markets with its competitors, making it easier for you to find the perfect fit.
RCG Markets Plus500 Trading.com Currency pairs 70 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. NoYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products RCG Markets offers for beginner traders and investors who prefer not to engage in active trading.
RCG Markets Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at RCG Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with RCG Markets in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at RCG Markets is $1. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Account approval may require extra time depending on the documentation.
- Registration process may take longer than expected
RCG Markets account opening RCG Markets Plus500 Trading.com Online Registration YesYesYesMinimum deposit $1 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 2 3 2 Is RCG Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
On the RCG Markets website, it is possible to register as a client or a partner. If you consider the broker for trading, create an account with it following the below instructions:
On the broker’s website, click the “Login” button to activate the menu for clients and partners. Choose the action that allows you to register a user account for trading.
Next, fill in the account opening form. Choose the account type, base currency, and trading platform. Also, the broker requests your personal data. Your email is necessary to link the user account.
The first steps after creating your user and trading accounts are:
- Verification..
- Making a deposit..
Additional features of RCG Markets’ user account allow traders to:
- View their trading history;
- Add new live and demo accounts;
- Change leverage;
- Submit withdrawal requests;
- Transfer funds between their accounts;
- Go to the web version of MT5;
- Download desktop platforms and mobile apps.
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Customer Support
Score:We evaluated Customer Support at RCG Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5.2 /10Customer support at RCG Markets is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. RCG Markets provides basic support functionality but does not stand out in overall service performance.
InformationRCG Markets’ technical support is available 24/5, excluding public holidays. The Johannesburg office operates from 9:00 to 17:00 Monday through Friday and from 9:00 to 14:00 on Saturday and Sunday.
- Different communication channels are available
- Support in WhatsApp is almost instant
- Technical support is provided with breaks
- Managers are not available in a live chat
RCG Markets provides the following communication channels:
- Telephone;
- Email;
- WhatsApp;
- Feedback form;
- Instagram, X (formerly Twitter), and Facebook.
There is no live chat in the user account. Tickets are not available either.
Contacts Foundation date 2022 Registration address RCG Markets (Pty) Ltd, 13th Floor, Green Park Corner, 3 Lower Road, Sandown, Gauteng, 2196, Johannesburg, Republic of South Africa Regulation FSCA Licence number:
FSP49769Official site https://www.rcgmarkets.com/ Contacts support@rcgmarkets.com +27 (10) 007 5974, WhatsApp number: +27 82 401 6338
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FAQs
What does the FSCA regulation and safety score say about RCG Markets’ security level?
RCG Markets is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, which is described as Tier-2 regulation without a specific investor protection fund. The broker has a safety score of 5.8/10, categorized as a Medium security level, and it does not provide negative balance protection while requiring KYC verification.
How are trading commissions and non-trading fees structured at RCG Markets?
RCG Markets is assessed as having Medium overall fees, with low forex trading fees, tight EUR/USD spreads, and no inactivity fee. Standard account EUR/USD spreads typically range from 0.2 to 0.4 pips, while RAW/ECN accounts have an average EUR/USD spread of 0.10 pips plus a $3.50 commission per lot, and deposits and withdrawals each incur a 0.5% fee.
What do user reviews and feedback indicate about overall satisfaction with RCG Markets?
RCG Markets has a user satisfaction score of 3/10 based on 4 reviews, with 50% of ratings at 2 stars and 50% at 1 star. According to user reviews, overall sentiment is mostly negative.
How straightforward is the RCG Markets account opening process according to available information?
Account opening at RCG Markets is fully online, took 20 minutes to register during testing, and required 2 business days for KYC verification, with a minimum deposit of $1. The process is described as accessible and relatively hassle-free, though the broker notes that registration and approval may sometimes take longer depending on documentation.
What do reviews and feedback suggest about RCG Markets customer support responsiveness?
Customer support at RCG Markets is available through several channels, including telephone, email, WhatsApp, social networks, and a feedback form, with technical support operating 24/5 and WhatsApp responses described as almost instant. Based on user feedback in the testing description, response times were moderate and service quality varied, with no live chat or ticket system and managers not available in live chat.
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