- Owned by GoldTech Media Services OU;
- Operational address: Tornimae 5, 10145 Tallinn, Estonia;
- Available to non-U.S. customers only;
- Products: CFDs, Commodities , Forex, Leading Companies Stocks;
- 32 supported languages, 100% Islamic account.
RCPro Review - Scam or Reliable Broker
Owned by Media Zone Solutions LP, RCPro, they are an online trading broker formed by market experts containing a wide selection of products. Their platform belongs to TechFinancials. They have many years of impressive history in the biz, so that counts as a plus for RCPro’s legitimacy and a major vote of confidence from one of the industry’s key players.
What’s to trade? Well, their offer includes CFDs, Currency Pairs, Commodities, Stocks, Market Indexes, Bonds and Oil. Their Education Center is one of the finest we’ve come across, since it features countless tutorials that explain the basics of Forex trading, important Forex strategies as well as an extensive MT4 overview.
Both beginners and professional traders get to enjoy multiple trading options to best suit their needs. Features include the Economic calendar, regularly updated market data and direct market prices for every product that’s available for trading. Their portfolio includes over 200 assets, and traders from over 180 countries get full access to their platform.
Safety of funds
Well, they seem to spare no expense when it comes to ensuring clients’ funds. In an attempt to offer protection from market fluctuations, they guarantee fast deposit and withdrawal processes, segregated investors’ funds as well as the ability to use hedging. Clients are protected against negative balances, so that they never lose more than their initial investment. Margins get real-time protection, which counts as a major plus for this type of industry.
Account and deposit types
The minimum initial deposit at RCPro is $500, which is a bit steep, compared to their competitors. With the average being $100, RCPro seems to push boundaries, given it also lacks financial regulation.
Their spreads vary between 4.9 and 5.0 pips; this is pretty high, given that the vast majority of brokers offer a 1.0-1.5 range. As for their leverage, we have a 1:200, which goes well with most trading platforms. Higher leverage does not necessarily imply better trading conditions; it just increases risk and is frowned upon, especially when it comes to beginners.
You can open an account in 3 available currencies: USD, EUR and GBP. Furthermore, you can choose between 4 account types: Silver, Gold, Platinum or the Islamic Account.
Deposits and withdrawals are processed benefit from the latest SSL encryption system, which means your account is the only place where you get access to all of your data.
Like most traders on the market, the platform of choice for RCPro is the Meta Trader4. This is a common choice between brokers because it offers optimal charting solutions and customizable panels. They offer both the web and the mobile app version, both functioning at optimal levels. Their platform enables you to follow all of your trades in real-time, as well as fill in purchase and sales orders immediately.
The Panda Webtrader software is very easy to configure and highly intuitive, so that’s a major plus.
The fact that they are not a regulated brokerage enterprise is by far their biggest flaw. Sure, you can make you some money nonetheless, but nothing is guaranteed and policies can change overnight, if they choose to do so. Is RCPro a scam? Although they boast one of the best platforms in the business and a stellar support team, the fact that they do not respond to a higher financial instance is a big problem. In case they take steps to fix this issue in the future, they might turn out to be one of the best stock brokers in the biz!
The company’s customer support team is very well-informed and always available to help out with whatever information you might need. You can reach them via phone and email, and the best thing is that they never waste your time. Every conversation we had with them was brief and to the point, and you never get passed over to another colleague/department etc.
As far as we can tell, there is no reason to worry about this company’s legitimacy. The fact that they are not regulated, however, is still a major minus, so until they fix this issue some doubt will still remain. In the meantime, you can still trade with them and enjoy above-average results, as long as you are fully aware of the risks.