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RCM Forex broker specializes in providing foreign exchange trading services, the company's official website http://tw.fxrcm.cn/r..., the company's legitimate regulatory information New ZealandFSPRFinancial Service Corporate to enhance the security of the company's address

RCM Forex Broker

Basic Information

Registered Region
New Zealand
Operating Period
--
Company Name
Renaissance Capital Markets Ltd
Abbreviation
RCM
Company employee
--
Customer Service Email Address
Support@fxrcm.com
Contact Number
4001068809
QQ
4001068809
Keywords
Scam Brokers
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
New Zealand Financial Service Corporate Revoked
Suspicious Overrun
High potential risk

Rating Index

How to login to RCM?
rcm Complete Account Guide: Registration, Account Opening, and Login Processes This comprehensive guide will walk you through the processes of registering, opening an account, and logging into the rcm platform. Whether you are a first-time user or looking to resolve issues, this guide covers everyth

Rcm Forex Broker - Complete Information Guide

1. Overview of the Broker

Rcm broker, officially known as Regal Core Markets Limited, was established in 2020. The company is headquartered in Vanuatu, a well-known offshore jurisdiction. Regal Core Markets Limited operates privately and focuses primarily on retail forex trading services.

The broker caters to a diverse clientele, including individual traders and investors, particularly targeting the Chinese market, as indicated by the multilingual support on its website. Rcm broker has made efforts to establish itself in the competitive forex market by offering various trading products and services, although it has faced scrutiny regarding its regulatory status.

Throughout its brief history, Rcm broker has aimed to provide a robust trading platform and a wide range of financial instruments. However, it has also been associated with several controversies related to its licensing and operational practices. The company operates under the umbrella of its parent company, Regal Core Markets Limited, which is registered in Vanuatu.

Rcm broker primarily engages in retail forex trading, offering a platform for individual traders to access the forex market and trade various currency pairs, CFDs, and other financial instruments.

2. Regulatory and Compliance Information

Rcm broker is registered in Vanuatu and operates under an offshore license issued by the Vanuatu Financial Services Commission (VFSC). However, it is crucial to note that the VFSC is known for its lenient regulatory requirements, which raises concerns about the safety and security of trading with Rcm broker.

The regulatory number associated with Rcm broker is not publicly disclosed, and the validity of its offshore license has been questioned by various industry observers. The lack of stringent oversight means that there is minimal protection for traders, making it essential for potential clients to exercise caution.

Rcm broker does not participate in any investor compensation funds, which further heightens the risks for investors. The company claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures; however, the effectiveness of these measures is unclear due to the lack of regulatory scrutiny.

The absence of a robust regulatory framework and investor protection mechanisms makes trading with Rcm broker potentially risky, as it operates outside the purview of more reputable regulatory bodies like the FCA in the UK or ASIC in Australia.

3. Trading Products and Services

Rcm broker offers a variety of trading products to its clients. The broker provides access to over 20 forex currency pairs, including major, minor, and exotic pairs. In addition to forex trading, Rcm broker also offers Contracts for Difference (CFDs) on various asset classes, including:

  • Stock Indices: Major global indices such as the S&P 500 and the FTSE 100.
  • Commodities: Precious metals like gold and silver, as well as energy products like crude oil.
  • Cryptocurrencies: Popular digital currencies, although specific offerings may vary.

Rcm broker frequently updates its product offerings, although specific details on the frequency of these updates are not readily available. The broker primarily focuses on retail trading services, providing individual traders with tools to engage in the forex market.

Additionally, Rcm broker does not appear to offer institutional services, white-label solutions, or asset management services, which may limit its appeal to a broader range of clients seeking comprehensive financial services.

4. Trading Platforms and Technology

Rcm broker primarily supports the MetaTrader 4 (MT4) trading platform, which is widely recognized for its user-friendly interface and robust trading features. The broker does not currently offer MetaTrader 5 (MT5) support, which may be a drawback for traders seeking the latest trading technology.

The broker has not disclosed any information regarding a proprietary trading platform, indicating that its services are primarily reliant on MT4. Rcm broker provides a web-based trading platform, allowing clients to access their accounts and trade without the need for software installation.

Mobile trading is supported through applications available for both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go.

Rcm broker operates under various execution models, including ECN and STP, although specific details regarding its execution policies and order routing are not extensively detailed. The broker's server infrastructure appears to be based offshore, which may affect latency and execution speed for traders.

API access for automated trading is not explicitly mentioned, which could limit the capabilities of algorithmic traders looking to integrate their trading strategies with the broker's platform.

5. Account Types and Trading Conditions

Rcm broker offers several account types to cater to different trading preferences. The conditions for the standard account include:

  • Minimum Deposit: The specific minimum deposit required is not publicly disclosed.
  • Spreads: The broker provides variable spreads, although exact figures are not specified.
  • Commission: The commission structure, if applicable, is not detailed in the available information.

For advanced traders, Rcm broker may offer VIP or professional accounts, but further details on these account types are not readily available. The broker does not appear to provide specialized accounts such as Islamic accounts or corporate accounts.

A demo account is available for traders to practice their strategies, although the terms and conditions for this account type are not specified.

Leverage ratios offered by Rcm broker vary depending on the asset class, with forex trading typically allowing higher leverage. The minimum trade size is not explicitly mentioned, and information regarding overnight fees is also lacking.

6. Fund Management

Rcm broker supports various deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirements for different account types are not clearly stated, which may deter potential clients.

Deposit processing times vary, but generally, they are processed relatively quickly. There is no information available regarding deposit fees, which may also influence a trader's decision to open an account with Rcm broker.

Withdrawal methods are supported, but specific limitations and processing times are not disclosed. The broker's withdrawal fees and the overall fee structure for transactions remain unclear, which could lead to unexpected costs for traders.

7. Customer Support and Educational Resources

Rcm broker offers multiple support channels, including phone, email, and online chat, although the specific availability of these services is not detailed. The broker operates in various time zones, but exact service hours are not provided.

Multilingual support is available, including English and Chinese, catering to its primary target market.

Educational resources offered by Rcm broker include webinars, tutorials, and eBooks, although the depth and quality of these materials are not specified. Market analysis services, including daily analysis and research reports, are also provided, but further information on their frequency and comprehensiveness is not available.

Various trading tools, such as calculators and economic calendars, are likely offered, but specific details are not provided.

8. Regional Coverage and Restrictions

Rcm broker primarily serves clients in regions with a focus on the Asian market, particularly China. The broker's regional office distribution is not publicly disclosed, limiting insights into its operational footprint.

However, Rcm broker does not accept clients from certain countries, although the specific list of restricted countries is not provided. Special restrictions may apply based on local regulations, but detailed information on these limitations is not available.

In conclusion, Rcm broker presents a range of trading options and services, but potential clients should be cautious due to its offshore regulatory status and lack of comprehensive information about its operations. As always, thorough research and due diligence are essential before engaging with any broker.

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Latest Reviews

FX3929218820

FX3929218820

Hong Kong

At first I applied for a withdrawal in November, but I didn’t receive the money. They told me in middle December that they can’t let me withdraw for now and returned all the money back to MT4. In middle January the next year, the website said it is good to withdraw. Then I applied, but I didn’t receive the money for 2 months until now. The MT4 terminal says the money was not transferred but my balance was zero. I emailed them, but they gave me no reply.

Exposure

2019-03-19

FX5519946975

FX5519946975

Hong Kong

Money can’t be withdrawn on RCM. When I resorted to the staff, they didn’t deal with the problem. The application has long been made without verification. I can contact them via email or email. The public account is also closed. Scam platform

Exposure

2019-03-08

FX3399229795

FX3399229795

Hong Kong

RCM platform can not withdraw for more than three months, platform again and again and again three shirk, today say the dollar tomorrow say the give RMB, and then flee to prepare, now trading room phone, complaint mail has no reply.

Exposure

2019-02-12

RCM Forex Broker has an overall rating of 1.59, Regulatory Index 0.00, License Index 0.00, Business Index 7.64, Software Index 4.00 Risk Control Index 0.00.