RCG Markets Review

Category: Reviews | Author: Trading Brokers | Date: September 21, 2023

RCG Markets is a forex and CFD broker that positions itself as a provider of direct market access, competitive trading conditions, and a diverse range of trading instruments. While the company is headquartered and regulated in South Africa, it extends its services to various African countries and global markets. In this comprehensive article, we will conduct a thorough examination of RCG Markets, delving into critical aspects such as its regulatory framework, available trading platforms and tools, educational resources, offered markets, available account types, and funding methods. Our objective is to provide a detailed assessment of whether RCG Markets represents a reliable and trustworthy choice to meet your unique trading requirements.

Pros & Cons

  • Wide range of tradable instruments
  • Access to the popular MT4 platform
  • Competitive spreads and commissions
  • Multiple account types
  • Multiple funding methods
  • Lack of education and research resources
  • Lack of demo and Islamic accounts
  • Lack of social trading options
  • Lack of trading tools and indicators


RCG Markets Review

RCG Markets Review

RCG Markets, established in 2018 and headquartered in Sandton, Gauteng, South Africa, operates as a forex and CFD broker. It boasts authorization and regulation by the Financial Sector Conduct Authority (FSCA) under license number 49769. RCG Markets takes pride in its extensive range of tradable assets, exceeding 200 instruments, covering forex, shares, metals, energies, indices, and commodities. For trading, the broker offers the versatile MetaTrader 4 platform, accessible across desktop, web, and mobile devices.

RCG Markets emphasizes direct market access, competitive spreads, swift order execution, and a suite of trading tools and indicators. With four distinct account types—Standard, Premium, VIP, and ECN—tailored to diverse trading preferences, the minimum deposit requirements range from $2.7 to $2700. Payment flexibility is ensured through multiple methods, encompassing bank wire transfers, credit/debit cards, Skrill, Neteller, and Bitcoin. Trading bonuses are also part of the offering, subject to specific terms and conditions.

RCG Markets maintains a round-the-clock customer support team, reachable via phone, email, WhatsApp, and Facebook. However, the broker’s website lacks comprehensive details on essential aspects such as leverage levels, trading fees, and withdrawal processing times. Furthermore, RCG Markets provides limited educational and research resources for its clientele.

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AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


When selecting a forex broker, one of the paramount considerations is regulation, as it establishes the framework within which the broker operates, safeguarding the interests and funds of traders. RCG Markets falls under the regulatory purview of the Financial Sector Conduct Authority (FSCA) in South Africa, holding license number 49769.

The FSCA, a well-regarded regulatory body, assumes the role of overseeing the conduct of financial entities and markets within South Africa. Its primary objectives encompass the promotion of fair and transparent financial services, consumer protection, and the reinforcement of financial stability. However, it’s essential to note that the FSCA may not impose the same stringent regulatory measures as other authorities like the FCA in the UK or ASIC in Australia.

Notably, the FSCA does not mandate the segregation of client funds, the provision of negative balance protection, participation in compensation schemes, or adherence to specific leverage or bonus restrictions. Consequently, opting for RCG Markets entails a degree of risk that may not be applicable when dealing with brokers governed by other top-tier regulatory bodies. Please see our regulated brokers for some alternative options.

Platforms & Tools

RCG Markets extends to its clients the widely acclaimed MetaTrader 4 (MT4) platform, renowned for its user-friendly interface and robust feature set. What sets MT4 apart is its versatility, as it caters to traders on desktop, web, and mobile devices.

MT4 Platform

MT4 Platform

Within the MT4 framework, traders benefit from advanced charting capabilities, an array of technical indicators, the option for automated trading via Expert Advisors (EAs), and access to pertinent market news.

RCG Markets also touts its provision of direct market access (DMA), a feature that grants traders direct entry to the interbank market without the interference of intermediaries or requotes. Nonetheless, it’s worth noting that the broker’s website lacks comprehensive information about the DMA offering, leaving traders in the dark regarding vital details such as execution speed, liquidity providers, or associated trading fees.

RCG Markets does not diversify its platform and tool selection beyond MT4, meaning traders seeking additional options like social trading, copy trading, or trading signals may find the broker’s offerings somewhat limited. Additionally, RCG Markets does not introduce a proprietary platform that could have introduced unique functionalities or advantages, ultimately making it less attractive to traders in search of platform variety or innovative tools.


When it comes to educational resources, RCG Markets appears to have limited offerings for its clients. Notably, the broker does not host an education center on its website, depriving traders of a valuable repository of learning materials typically found on many other platforms. The absence of resources such as articles, videos, webinars, e-books, or courses can be a drawback for traders seeking to enhance their knowledge and skills.

The educational content provided by RCG Markets is primarily confined to a collection of short videos available on its YouTube channel. However, these videos tend to cover only rudimentary topics, including introductory discussions on trading terminology, retracements, and candlestick patterns. While these resources may serve as a basic introduction to the world of trading, they are notably brief and lack the depth and sophistication required for more comprehensive and advanced learning.

As a result, traders who prioritize access to extensive and high-quality educational materials to further their trading expertise might find RCG Markets somewhat lacking in this regard. For those who value a robust educational offering, exploring alternative brokers with more comprehensive educational resources may be advisable.


RCG Markets provides access to a diverse array of trading instruments, boasting a selection that encompasses more than 200 assets spanning various asset classes. These encompass forex, shares, metals, energies, indices, and commodities, offering traders ample opportunities to diversify their portfolios and tailor their trading strategies to individual preferences. Some of the specific instruments accessible through RCG Markets include:

  • Forex: Major and minor currency pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, NZD/USD, USD/CHF, EUR/GBP, EUR/JPY, GBP/JPY, and more.
  • Shares: Individual stocks from some of the world’s largest companies, including the likes of Apple, Amazon, Facebook, Google, Microsoft, Tesla, Netflix, and others.
  • Metals: Precious metals like gold and silver.
  • Energies: Energy commodities such as crude oil and natural gas.
  • Indices: Stock indices representing the performance of specific market sectors, including S&P 500, Nasdaq 100, Dow Jones 30, FTSE 100, DAX 30, CAC 40, and more.
  • Commodities: Agricultural products like coffee, cocoa, sugar, wheat, corn, soybeans, and more.

However, it’s worth noting that RCG Markets provides limited information about these instruments on its website, omitting key details such as symbols, spreads, leverage, and contract specifications. Additionally, some popular instruments such as cryptocurrencies, ETFs, and bonds are notably absent from its offerings. Traders seeking a broker with more comprehensive market transparency and a wider range of instrument choices may want to explore alternatives to better align with their trading preferences and objectives.


RCG Markets extends a selection of four distinct account types, each tailored to accommodate diverse trading styles and preferences: Standard, Premium, VIP, and ECN. These account variants differ primarily in terms of the minimum deposit requirement, spreads, and commissions. Here’s a concise overview of these account types:

  • Standard: Positioned as the entry-level option, the Standard account mandates a minimum deposit of R50 (approximately $2.7) and delivers commission-free trading characterized by spreads commencing at 1.5 pips.
  • Premium: The Premium account, an upgraded offering, necessitates a minimum deposit of R500 (about $27). It, too, provides commission-free trading, featuring spreads starting at 0.9 pips.
  • VIP: Designed for advanced traders, the VIP account imposes a minimum deposit requirement of R5000 (approximately $270). Like its predecessors, it boasts commission-free trading, with spreads commencing at 0.6 pips.
  • ECN: Catering to the most discerning traders, the ECN account entails a substantial minimum deposit of R50000 (about $2700). This account type offers raw spreads as low as 0.0 pips but introduces a commission of $6 per lot.

Across all account types, RCG Markets provides high leverage of up to 1:2000, access to the MT4 platform, and direct market access. However, detailed information about additional account features such as minimum trade sizes, margin call and stop out levels, and swap rates is notably absent from the broker’s offerings. Furthermore, RCG Markets does not provide demo accounts or cater to Islamic account requirements.


At RCG Markets, traders can choose from a range of deposit and withdrawal methods, including bank wire transfer, credit/debit cards, Skrill, Neteller, Bitcoin, B2BinPay, Ozow, and Paystack. It’s worth noting that the availability of specific options may vary based on the client’s country of residence. Importantly, RCG Markets refrains from imposing any fees on deposits or withdrawals. However, it’s essential to remain attentive to potential charges that third-party providers might levy.

RCG Markets purports to expedite withdrawal requests within 24 hours. However, the broker’s website does not furnish details regarding minimum or maximum withdrawal amounts, nor does it elaborate on the verification procedures involved in the process. Additionally, RCG Markets extends trading bonuses to its clientele, subject to certain terms and conditions.


In conclusion, RCG Markets, a South African-regulated forex and CFD broker, offers a diverse range of trading instruments and utilizes the popular MetaTrader 4 platform. However, its limited educational resources and lack of transparency regarding trading details raise concerns. While it provides various account types, insufficient information about account features may pose challenges for traders seeking clarity. Payment methods are diverse, and the broker does not impose deposit or withdrawal fees, but specifics like withdrawal amounts and verification procedures remain unspecified. It’s worth noting that while RCG Markets offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

RCG Markets Logo

R50 (about $2.7)

RCG Markets is a South African forex and CFD broker that offers trading on more than 200 instruments, the MT4 platform, direct market access, and various account types. The broker is regulated by the FSCA, but has limited transparency and features.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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