RCM Brokers has been flagged by National Securities and Stock Market Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Several red flags with RCM Brokers: (1) They promise unrealistically high returns, (2) They're not registered with National Securities and Stock Market Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
My withdrawal from RCM Brokers was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for about five months of being strung along.
Pros: Market news feed|Easy withdrawals|Full transparency
Cons: Some tools only available on higher tiers|Limited ETF selection
I want to warn everyone about RCM Brokers. They have been flagged by National Securities and Stock Market Commission as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
Customer support at RCM Brokers seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Wide product range|Stable platform|Quick verification
Cons: Alert system is basic|Slow to add new assets
I closed a profitable position at RCM Brokers and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Customizable dashboard|Dedicated account manager|Wide product range|Detailed reporting
Cons: Cannot customize dashboard fully
I am in a dispute with RCM Brokers over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Professional team|Intuitive for beginners|Wide product range|Customizable dashboard
Cons: Spreads widen during volatile periods
RCM Brokers offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Personal attention|Quick verification
Cons: Alert system is basic