Is RC Pro a Reliable Broker?

General Information

Website URL: https://www.rcpro.com/

Founded: 2018

Regulation: N/A

Languages: English, Arabic

Deposit Methods: Credit cards, Bank wire transfer, E-wallets

Minimum Deposit: $500

Free Demo Account: no

Types of Assets: CFDs, Forex, Commodities, Cryptocurrencies

Regulation

For a trading platform established in Europe, it is quite strange to see that RC Pro has no regulation or any licence. The only information you can find about its origin is the address in Tallin, Estonia, where the company’s headquarters supposedly are. The lack of regulation is quite alarming, considering that these types of brokers cannot provide you with any protection while trading. Not to mention that there is not a regulatory body that can guarantee that your rights will be fulfilled.

Regulation in the trading world is mandatory today. The most respectable regulatory bodies in Europe include FCA and CySEC. If you see one of these names on the company’s page, you can rest assured that your trading will be safe and efficient. However, if these names are not available, you should be concerned.

Trading Platform

The trading platform may seem appealing at the beginning. It is MT4, which is an industry standard, but highly unlikely from an unregulated broker. Still, this is not even the most suspicious thing about it. Namely, the trading platform is cluttered with ads about trading Bitcoin, which will then send you to the lesser-known and reliable pages that guarantee huge returns but are actually there to scam you.

On this platform, you can find around 70 different assets that you can trade, from CFDs to currency pairs and cryptos. However,the leverage is unreasonably high at 1:200, almost 7 times more than the European standard, which is 1:30. This means that there is a pretty big risk while trading each one of these assets, and you should carefully think before you start trading.

Account Types

At RC Pro you can have one of the four available account packages. They include the classic, silver, gold and the Islamic account.

The classic account requires a $500 deposit and allows you up to 150% margin call. There is also a free tutorial available containing 3 lessons, as well as your personal account manager on call.

The silver account is one step above the classic package, and it provides you with 5 free educational lessons, as well as daily trading recommendations.

The gold account requires a minimum deposit of $10.000 and it is the most prestigious type of an account. It provides you with detailed trading reviews and recommendations, as well as 7 free trading lessons.

Finally, the Islamic account is for people of the Islamic religion that are not allowed to profit from interests or trades made overnight. The execution is therefore guaranteed to be finalized 100% in real-time.

Deposits and Withdrawals

The payment options for deposits and withdrawals include credit cards, bank wire transfers, Skrill, Neteller, Bitcoin and Web Money. The withdrawal minimum comes at $50 for credit cards and $100 for bank wire transfers, which is quite high. When it comes to the speed of processing the withdrawal request, it can go up to 24 hours to be approved. Then another 7 business days for the funds to be visible on your account.

Education

Educational tools at RC Pro are quite rich and diverse. They include the basics of trading strategies and trading signals, as well as the latest market news. And for beginners, there is a brief glossary available, through which you can learn the basic terms to use in everyday trading.

The levels of educational tools that you can approach depend on your account package. Still, whichever one you choose, it is quite a good start to learn your way around the platform. You can also try the highly popular social trading option. It allows you to watch and copy the market performance of other, more experienced traders.

The overall look and availability of the educational tools are quite satisfying. However, there is an obvious lack of dedication, since there are no regularly updated news or articles that can contribute to your better trading skills and accomplishments.