Overview of RTC Finance Review
A foreign exchange broker called RTC Finance has launched its operations in early 2017. The broker claims to be an expert provider of CFDs over 90 financial tools. A single account labelled as Standard is included in the offerings. Read full RTC Finance review here.The broker is based in Belize and refuses access to a free demo account. However, refusing access to a demo account is not our primary concern. There are several points of questions raised while researching for this RTC Finance review. And we will study them one by one. So it’s a completely worthy review for those traders who wish to start trading with.
About RTC Finance:
A standard account whose required first financial deposition is unknown and that offers micro trading lots, a max leverage ratio of about 200:1 and average spreads of around 2 pips are provided is served to broker’s clients. Icon Markets LTD owns and manages forex broker brand name RTC Finance and claims to be situated in the country of Belize. Unfortunately, the company Icon Markets LTD was previously registered under Belize based financial regulator International Financial Services Commission. But right now it’s not and its license was withdrawn due to unethical practices. Also, the International Financial Services Commission is very much lax compared to other serious financial regulators like FCA, BaFin and CySEC. Also, it is gloomy to see dreams of profits while trading with unregulated brokers. The leverages offered at 200:1 are restricted in many registered markets e.g. Cyprus based CySEC allows 40:1 leverages or other European regulator allow leverages not more than 30:1. The precaution is taken to avoid huge losses of traders. Also, the spread offered on Euro USD foreign exchange pair is capped at 2 pips. Such spreads are not competitive and intensify actual trading costs. The broker offers trading platform named Sirix. Sirix is a decent trading platform but can not be compared to MetaTrader. As MetaTrader is fitted with numerous advanced features like EA, Auto Trading Bots, Market Indicators that above 60, and Excellent Chartings. Using MT provides an extra edge to traders. The broker wants it, depositor, to use payments methods like bank wire transfer, credit or debit cards, and also electronic wallets.
Is RTC Finance Scam or legit?
The broker RTC Finance is located in Belize a low credible country for forex brokers. Its license and regulation is withdrawn by IFSC. Not at all suitable trading environment is imposed on the traders. Instead of MT, Sirix is supported. All of this makes RTC Finance a potential scam broker 2020.