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Here at Free Forex Robot we offer reviews of popular and upcoming trading platforms. Today we are writing a RXK Capital review for your reading pleasure.
RXK Capital Review
Have you been looking at different brokers in order to choose one to partner with? Choosing the right broker is of the utmost importance if you want to have a successful and hassle-free trading journey. Some brokers you find are not regulated and are just scams whereas there are also regulated brokers that may not offer what you are after. Traders often become frustrated because they think they will not find a broker that can cater to their specific needs. Luckily, RXK Capital is one such option that will definitely not disappoint you, regardless of whether you are new to trading or have had some experience.
Based in the European Union, RXK Capital is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC). It is offering the MetaTrader 4 platform and allows its clients to trade a number of forex currency pairs and numerous other CFDs via its platform. If you are curious about the other offerings and aspects of this broker, you can find more information below:
Overview of the Company
As mentioned above, RXK Capital is an online broker offering forex and other CFDs for trading that operates out of Cyprus. It is run by Magnum FX (Cyprus) Ltd, a leading investment firm with its offices in Limassol, Cyprus. This broker allows its traders to enjoy CFD trading for a range of markets, which include shares and stocks, forex, indices, commodities and cryptocurrencies. In the commodity category, you will be able to invest in oil, agricultural assets and precious metals. There are more than 50 currency pairs available, which include major, minor and exotic options.
As for indices, RXK Capital has added some of the most popular ones to their asset index like DOW30, FTSE 100 and S&P 500. You can also trade top crypto CFDs, starting from Bitcoin and going as far as Litecoin. When you are trading through this broker, the market can be accessed 24/7. In addition, the entire registration process is simple and straightforward, whether you wish to open a retail or professional account. Since it has not been around for more than a couple of years, it is perfect normal for the broker to not have received any industry awards. However, this is expected to change in the future because it seems that RXK Capital has everything that’s needed to be classified as a quality broker.
It gives its clients access to the most popular trading platform in the market i.e. the MetaTrader 4, which has won several awards.
RXK Capital Trust, Safety and Regulation
As mentioned above, RXK Capital is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), which certainly gives peace of mind to traders. After all, being regulated by CySEC means that the broker maintains segregated bank accounts for its clients. In addition, they store all funds with top tier banks to prevent any issues in terms of finances. They also have a compensation scheme in place and follow best practices and standards in terms of data encryption and security. Thus, the broker can be trusted with your personal information and finances as they also comply with the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.
Multiple Trading Platforms
In order to meet the needs of different traders, RXK Capital has added not just one, but three trading platforms to its arsenal, which include the MT4 platform. The availability of three options means that traders are free to use a desktop version, a web-based version or a mobile option, as per their preference.
- WebTrader: This is a web-based trading platform compatible with most browsers and requiring no downloads or installation. It is an innovative platform that delivers a superb trading experience. Navigation is quick and easy with the intuitive interface and you can also use Visual Trends and Cubes.
- MetaTrader 4: If you have traded before, you know there is no better trading platform than the MT4. RXK Capital gives you the option of using it on mobile as well as desktop. It comes with an array of technical indicators, integrated tools and features, along with auto trading options.
- Mobile Trading: There is a well-designed mobile app for Android and iOS devices and can deliver an equally smooth trading experience with just the right features and tools.
Beginner, Seasoned and Experienced Account Types
There are essentially three account options that RXK Capital is offering, ranging from newbies to advanced traders.
- Silver: This account is suitable for newcomers as it comes with customer support and spreads as low as 0.07. The minimum deposit is $250 and the maximum leverage you get is 1:30.
- Gold: This one is for seasoned traders who know the ins and outs of the market and can use maximum leverage of 1:500 to their advantage. Spreads go down to 0.05 and a dedicated account manager, plus access to webinars and videos is given.
- Platinum: For the experienced traders, this account comes with additional tools and spreads as low as 0.03. A 50% discount on SWAPs is also available.
Assistance and Guidance
There is an in-depth video on demand (VOD) library provided by RXK Capital, which offers advanced and basic trading tips. Therefore, their resources and customer service section is worth mentioning. If you want to reach out to their helpful staff, you can explore multiple options like email and phone. They also have a live chat option available. RXK Capital has ensured that their staff is knowledgeable, helpful and friendly and respond to you within a couple of hours.
RXK Capital Trading Costs
No trading fee or commission is charged on forex trading by RXK Capital. The broker aims to earn a profit via spreads. It offers floating spreads, which are quite reasonable, as compared to other brokers. The commission-free model is very appealing because it means no high transaction fee is incurred every time.
The regulatory status of RXK Capital, when combined with its trading platform, tools and resources, numerous account types and its responsive customer support, make it one of the best choices for traders who want to have a solid partner in trading.