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RCPro review – Is rcpro.com scam or good forex broker?
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RCPro is a forex and CFD broker, offering over 20 currency pairs and other trading instruments with a choice of four account types, including an Islamic account, on the MetaTrader4 platform. Unfortunately the broker does not have a license so if you are thinking about investing with them be sure to read this review first.
|Account type||Min. deposit||Max. leverage||Spread s|
|Silver Account||$2 500||1:200||n/a|
|Gold Account||$10 000||1:200||n/a|
Leverage as high as 1:200
Since the European Securities and Markets Authority (ESMA) caped the maximum leverage allowed with forex and CFD trade on the European market at 1:30 in early August, higher leverage become some what exotic.
Leverage of up to 1:200 as offered by RCPro is perfectly enough to accommodate even the most aggressive trading strategies. And yet, higher leverage should be used with caution as it is also associated with an exponentially growing risk of loosing your funds, when the market swings in the wrong direction.
This is also a good news. MetaTrader4 is probably the most renowned trading platform, used by more than 80% of all traders globally. It has light and intuitive interface, excellent charting package, more than 50 in-build market indicators and is able to support automated trading sessions with the help of customizable trading robots or Expert Advisors. Besides, here you may check our list of brokers, also supporting the MetaTrader4:
This is our main issue with RCPro – the broker is owned and operated by GoldTech Media Services OU – a company based in Estonia, but not authorized or regulated by any of the official financial watchdogs in the European Union. Actually the broker is not regulated anywhere and simply does not have a license to provide financial services. This is a major setback as trading with unregulated brokers is associated with a significant risk of loosing your money to scammers.
Brokers, regulated by well respected authorities, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the National Futures Association in the US or the Cyprus Securities and Exchange Commission (CySEC) are obliged to follow strict fiscal and ethical rules, among which to keep all clients money in a segregated, protected from creditors account, to maintain a certain level of operational capital, to file regular reports, to allow external audits and in certain cases even to insure traders capital.
Thus with CySEC regulated brokers traders are entitled to a compensation of up to 20 000 EUR, if their broker files for bankruptcy. Similarly, traders with FCA regulated brokers can receive back up to 50 000 GBP of their trading capital. Besides, here you may check our list of FCA regulated brokers:
As we already discussed our main concern with RCPro is that the broker is not regulated and basically, if you choose to invest with them the safety of your money will depend solely on the integrity of the people behind the broker. So our best advise is to deal with properly regulated companies only.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
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FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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RCPro Scam Broker
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RCPro Scam Broker Complaint | RCPro Review
Is RCPro a Scam Broker?
If you have traded with RCPro and believe you have been scammed by them you have a chance to get your money back. Many unregulated brokers have been found to scam traders. At Broker complaint registry it’s our job to make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money.
Is RCPro a scam or legit broker?
RCPro has been suspected as a scam broker. We don’t recommend to trade with them and if you are trading with RCPro contact them immediately and try to get your fund out. If the RCPro has done the following, you have probably a victim of RCPro scam broker.
Reason to suspect a scam broker is in action:
Don’t give up. You can fight back and get your money refunded. Start by filling the form above and we will get in touch with you and provide you with information on how to start the process.
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