RC Global Financial Review
RC Global Financial Review
RC Global Financial seems like a newly launched forex broker that has not presented its trading conditions very well. There is no information on its website regarding account types, the initial deposit the required, payment methods supported, the leverage provided.
RC Global Financial Advantages
MT4 platform offered
The only strong side of RC Global Financial we could think of is the availability of MetaTrader4 (MT4) platform. The broker offers both desktop downloadable version and mobile apps, however we did not test it, as there are no demo accounts.
The industry leading MT4 platform hardly needs an introduction. This is a top-rated trading solution, which provides great charting package and a lot of custom technical indicators and automated trading systems, a.k.a. Expert Advisors.
RC Global Financial Disadvantages
RC Global Financial is one of the many forex and CFD brokerages that are registered offshore. It also claims to be regulated in New Zealand, but in fact it is only registered there as a company engaged in Mortgage broking and is not overseen by the Financial Markets Authority (FMA).
Apart from some indication of the spreads, RC Global Financial basically doesn’t specify much regarding its trading conditions on their website. As it does not offer free demo accounts either, we don’t know essential details such as the available leverage with this broker, nor the minimum deposit required. This is unacceptable and immediately lowers the credibility level of RC Global Financial.
RC Global Financial indicates that it provides spread of 2 pips on EUR/USD. We don’t know whether this is a fixed or variable spread, nor whether it is the lowest or the average one. Either way, a 2 pips spread for this pair is higher than the spreads offered by most brokers. For example, major forex broker FxPro offers a spread of 1.4 pips for the EUR/USD pair on its commission-free accounts.
You can always compare the spreads of some of the best forex brokers at our dedicated page.
No demo accounts
Reliable brokers, like FxPro, XM and many more always provide demo accounts so that everyone can test their services for free. This is not the case with RC Global Financial, however, which raises yet another red flag.
RC Global Financial is an offshore forex broker that seems to be originating from China. According to the information on their website (which fails to provide many essential details about their trading conditions), it has offices in Shenzhen, China, Hong Kong, London and Paris.
RC Global Financial holds a license from Belize’s International Services Commission (IFSC). Although regulation in Belize involves a few requirements, the control over licensed companies is very loose. These companies can basically do whatever their like with your trades and your money. That is why you’d better select among FCA-regulated brokerages, or companies licensed in Cyprus, where the respective financial watchdogs are on alert and your money will be safer.
The Cypriot Financial watchdog applies strict rules to licensed companies. Two of them are of utter importance for the security of your investment. First, all client funds are kept in segregated bank accounts which can’t be accessed by the broker. Second, Cypriot Investment Firms have to be members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
RC Global Financial Review Conclusion
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