London Capital Group (LCG) is a licensed CFD broker that deals in various financial instruments and a leverage of up to 30:1. While it operates in various countries across the globe, clients from certain nations like Singapore, the United States, Australia, New Zealand, Belgium, and Canada cannot access its services. In terms of its fees, it has competitive spreads and commissions although its spreads and additional fees are not among the lowest in the market.
London Capital Group Pros and Cons
Pros
- Free demo account
- Offers ETFs and bonds
- Leverage of up to 500:1
Cons
- Higher spreads compared to its competitors
- Does not offer copy trading
- Higher fees compared to its competitors
- No automated trading
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Who is LCG Recommended For?
The London Capital Group is recommended for individuals looking for a brokerage firm with no minimum deposit requirement. Additionally, if you are looking for a legal entity with no hidden fees and whose trading platforms include MT4, you can consider LCG.
Top LCG Features
Spreads
While LCG’s spreads are not the lowest in the market, its rates are competitive. The spreads depend on the account type as well as the financial instrument in question. For instance, the ECN account has spreads from as low as 0.0 pips. For detailed information about the company’s spreads, head on here.
Trading Platform
LCG has two major trading platforms; MetaTrader 4 and LCG Trader. Both of these platforms are mobile compatible. With the LCG Trader, you get advanced trade protection, ability to set price alerts and other notifications, 70 key technical indicators, and a fully customisable platform. Additionally, the trader is in a position to reverse or double up positions as well as use the available charts for one-click dealing.
As for the MT4 platform, the trader enjoys automated trading, free signals, advanced charts, technical indicators, and numerous trading tools. MT4 is available in 39 different languages so as to suit traders all over the world.
Spread Betting Account
Spread betting is somewhat different from the other modes of online trading. The trader places a specific amount of funds for every point of price movement as opposed to trading lots of a particular financial instrument. The resultant profits are usually exempt from taxes and stamp duty.
Other reasons why one should consider opening a spread betting account with LCG include its competitive pricing, superior execution, and access to over 7,000 financial instruments. It is important to note that the spread betting account is only available to the residents of the UK who are clients of the London Capital Group Limited. For more details on spread betting with LCG, head on here.
Support Channels
LCG is an impressive customer support system. One of the numerous ways that you can contact the firm is through the phone numbers availed on the ‘Contact Us’ section on its website. Additionally, there is a Live Chat option that you can use to talk to one of the company’s representatives instantly. LCG is also active on various social media platforms including Twitter, YouTube, Instagram, Facebook, and LinkedIn. For all of these options, the best time to contact the company is on working days.
Education
LCG has various educational resources that are beneficial to beginners as well as the experienced traders. One such resource is the LCG blog. The company consistently posts relevant content on this platform for use by aspiring and active traders. The availed information centres on global financial markets as well as the strategies of successful trading under different circumstances. LCG also has trading guides and an online trading education centre with informative trading videos. Its additional educational resources include seminars, webinars, and the FAQ section.
London Capital Group Overview
| Regulation & Licensing | LCG is regulated and authorized by the Financial Conduct Authority (firm reference no: 182110). It has 3 subsidiaries: LCG Limited, LCG International, and LCG BHS (LCG Capital Markets Limited. LCG Limited is a registered company in Wales and England (registration no: 3218125). LCG BHS is a registered company in the Commonwealth of the Bahamas (registration no: 200271 B). LCG BHS is regulated and authorized by the Securities Commission of Bahamas (license no: SIA-F194). |
| Accepted Jurisdictions | Worldwide except for the United States, Canada, Singapore, New Zealand, Belgium, and Australia |
| Assets Offered | FX, precious metals, indices, ETFs, bonds & interest rates, commodities, shares, and Vanilla options |
| Platforms Available | LCG Trader, MetaTrader 4 |
| Mobile Compatibility | Yes, both trading platforms are mobile compatible. You can access them via your desktop, tablet, or mobile phone. |
| Payment Types Accepted | Debit and credit cards, bank wire transfer, and e-wallets such as Skrill, Neteller, UnionPay, and Southeast Asia Real-time Banking |
| Languages | Over 15 languages including French, Italian, Spanish, English, Deutsch, Turkish, and Portuguese |
LCG Account Types
In addition to its free demo account, LCG has three account types. These accounts include the Islamic account, classic account, and the ECN account. The accounts are designed to cater to the needs of different traders.
| Features | Islamic account | Classic account | ECN account |
| Account currencies | USD, EUR, GBP, CHF | USD, EUR, GBP, CHF | USD, EUR, GBP, CHF |
| Available leverage | 30:1 | 30:1 | 30:1 |
| Minimum deposit | 0 | 0 | $10,000 |
| Starting spreads | From 0.3 pips | From 0.3 pips | From 0.0 pips |
| Commission per trade | No | No | Yes from $7.5. |
| Decimal pricing | 4 decimal places | 4 decimal places | 4 decimal places |
| Swaps/rollovers | No | Yes | Yes |
| Trading instruments | FX, precious metals, indices, ETFs, bonds & interest rates, commodities, shares, and Vanilla options | FX, precious metals, indices, ETFs, bonds & interest rates, commodities, shares, and Vanilla options | FX, precious metals, indices, ETFs, bonds & interest rates, commodities, shares, and Vanilla options |
| Min. lot size per trade | 0.01 | 0.01 | 0.01 |
| Demo account | Yes | Yes | Yes |
| Swap/rollover free | Yes | No | No |
| Copy-trading support | No | No | No |
London Capital Group Regulations
LCG is regulated and authorized by the Financial Conduct Authority (firm reference no: 182110). It has subsidiaries that include LCG Limited, LCG International, and LCG BHS (LCG Capital Markets Limited. LCG Limited is a registered company in Wales and England (registration no: 3218125). LCG BHS is a registered company in the Commonwealth of the Bahamas (registration no: 200271 B). This subsidiary is regulated and authorized by the Securities Commission of Bahamas (license no: SIA-F194).
Spreads and Costs
LCG’s spreads are fairly competitive. The spreads depend on the account type as well as the financial instrument. For instance, the ECN account has spreads from as low as 0.0 pips. Below is an example of spreads for certain FX pairs.
LCG does not charge its clients a commission per trade.
Non-trading Fees
One of the non-trading fees that LCG places on its clients is the inactivity fee. If no trading activity has been conducted on your account for 180 consecutive days, an inactivity fee is charged depending on your account currency as shown below.
GBP 15
EUR 18
USD 20
CHF 20
PLN 75
Other currencies 25
As for deposits, LCG does not charge deposit fees on any of the available methods other than credit cards (2%). Similarly, it does not charge its clients any withdrawal fees.
LCG Customer Service
London Capital Group has an elaborate customer support system that is aimed at enhancing customer satisfaction. To begin with, you can contact their representatives throughout the working days on any of the phone numbers in the screenshot below.
Additionally, the firm has a Live Chat option that one can use to talk to one of its representatives instantly. You can also contact them through the following social media platforms:
LinkedIn: London Capital Group
Twitter: lcgtrading
Facebook: londoncapitalgroup
YouTube: London Capital Group LCG
Instagram: lcgtrading
LCG Account Opening Process
The process of opening an LCG account is straightforward. If you are a beginner, it will be helpful to start with their free demo account in order to gain the skills and knowledge needed to trade successfully. To do so, visit the firm’s site and go to ‘Markets’ and then ‘Account Types’. The next step will be to click on ‘Open Demo Account’ and fill in the required details. The needed information includes your name, email address, country of residence, phone number, and a password of your choice. Once you have submitted these details, you will be able to trade with the availed virtual funds.
For the more experienced traders, you can open LCG’s classic account by clicking on ‘Open Live Account’. The process entails two simple steps. The first one includes your contact details, preferred currency and trading platform, and the password of your choice. Once you click on ‘Next’, you will be required to input certain personal details and your trading experience.
For traders who adhere to Sharia laws, LCG’s Islamic account is a suitable option. To open the account, all you need is to complete the registration and then send an email request to the firm’s customer support division ([email protected]).
Another account type that is available to LCG traders is the ECN account. To open this account, you will need to contact the company’s customer support team.
Minimum Deposit
London Capital Group does not have a minimum deposit requirement. However, you need to deposit enough funds to cater for the margin of the trade you intend to open.
Deposit and Withdrawal Fees
You can fund your LCG trading account through bank wire transfer, debit or credit card, or e-wallets like Skrill, Neteller, UnionPay, and Southeast Asia Realtime Banking. All the deposit methods, except for credit cards, do not attract any deposit fees. The deposit fees for credit cards is 2%. As for withdrawals, LCG does not enact any fees on its clients.
It is important to note that your bank may charge you for the transaction.
LCG Education Offering
LCG is keen on equipping its clients with the knowledge and skills needed to trade successfully. As such, it has a wide array of educational resources that are beneficial to beginners and experienced traders alike. One such resource is the LCG blog. The company is consistent in posting relevant content on its blog. On this platform, you will find detailed information on global financial markets as well as trading strategies for different scenarios. The firm also has trading guides and an online trading education centre with trading videos that are meant for traders with different levels of experience. Whether you are a beginner or an advanced trader, you will also learn a lot from LCG’s seminars, webinars, and FAQ section.
Conclusions
London Capital Group (LCG) is a CFD broker who is licensed by various regulatory bodies in different countries. It deals in numerous financial instruments. Although it operates in numerous countries across the globe, residents of Singapore, the United States, Australia, New Zealand, Belgium, and Canada cannot get their services. With reference to its fees, it has competitive spreads and commissions. However, its spreads and other charges are not among the lowest in the market.
Trading Platform Screenshots
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FAQs
Q: How much do I need to deposit into my account to start trading?
A: LCG does not have a minimum deposit requirement. However, ensure that you have enough funds to cater for the margin of the trade you intend to open.
Q: What can I trade?
A: LCG has numerous asset offerings including FX, precious metals, indices, ETFs, bonds & interest rates, commodities, shares, and Vanilla options.
Q: What types of accounts are available?
A: LCG has Islamic, classic, and ECN accounts.