Overall Rating | Overall Ranking | Trading Terminals |
2.5 | 48th  |  |
Embarking on a trading career is a momentous decision that encompasses your aspirations, efforts, and undoubtedly, your finances. Finding a trustworthy broker who caters to your requirements and supports your growth is crucial for your success. Whether you’re a seasoned trader or just beginning your journey, this review aims to offer you all the information you need to determine if London Capital Group (LCG) is the right choice for you.
So let’s dive into the details and explore what LCG has in store for traders like you!
What is LCG?
The renowned online trading platform LCG, also known as London Capital Group, is situated in the UK and provides access to a wide variety of financial assets, including FX, equities, indices, commodities, and cryptocurrencies. LCG, which was established in 1996, has a solid reputation for offering its clients outstanding trading services and cutting-edge technology.
With its selection of platforms and extensive tools, London Capital Group provides a simple and intuitive trading experience. Users laud the platform’s simplicity of use, superior customer service, and wealth of educational materials.
LCG keeps things mostly straightforward, offering simple platforms that may be downloaded (MT4), accessible via a browser (LCG Trader, MT4 Web), and used with a mobile device (LCG and MT4).
The company also provides minimal margin requirements, reasonable spreads, and a choice between regular and electronic communications network (ECN) accounts (albeit the latter requires a minimum deposit of $10,000).
Trading directly with market makers is made possible by ECNs, which can reduce spread costs in liquid markets. The emphasis LCG places on client service—important for all dealers, but especially so for newcomers—is one of the distinguishing characteristics that has helped it stand out from the competitors.
The LCG Group offers a diverse range of trading options, including multiple accounts, spread betting, and a classic account tailored to suit the needs of various traders. While there may be concerns about hidden fees and negative reviews, it is crucial for potential clients to thoroughly explore the LCG website and consult with their support team to address any queries.
The company is regulated by the Securities Commission, ensuring a secure trading environment for its clients. For those making their first deposit, LCG provides an attractive array of trading instruments and account types, such as a demo account for novice traders to practice their skills and an Islamic account compliant with Sharia law for clients who require it.
In this review, we have delved into the various aspects of the LCG company, its offerings in the forex market, and the overall experience that traders can expect when opening a trading account with them.
How does LCG work?
As a brokerage company, LCG (London Capital Group) connects traders with international financial markets and gives them the access and tools they need to make wise trading decisions.
Different account kinds are available to traders, each of which is intended to accommodate traders with varying degrees of experience and trading methods. For a seamless trading experience, LCG provides both MetaTrader 4 (MT4) and its own LCG Trader platform.
LCG Trader has the ability to add “take profit” and/or “stop loss” orders to four different basic order types. The trader also has the option of making the stop loss a trailing stop loss or a guaranteed stop loss. Additionally, the trader has the option of choosing whether the stop loss order should be executed at the bid or ask rate.
Market
A simple and straightforward order type, the market order is used by traders to execute a transaction at the prevailing market rate. This order ensures a quick execution but doesn’t guarantee a specific price. It is a popular choice among traders who want to capitalize on immediate market opportunities.
Limit
A versatile and popular order type, a limit order allows traders to set a predefined entry price above or below the current market rate, depending on whether it is a buy or sell order. The trader can also choose the expiration time for the order, providing greater control over the trade.
Limit orders are an excellent choice for traders who want to enter the market at a specific price, ensuring better risk management and strategic trading.
Stop
Similar to limit orders, stop orders enable traders to set a predetermined entry point above or below the current market rate, depending on whether it is a buy or sell order. The trader can also choose the expiration time for the order.
However, unlike limit orders, stop orders are primarily used to minimize losses or protect profits, acting as a safety net for traders in volatile market conditions.
Stop-Limit
Combining elements of both stop and limit orders, a stop-limit order allows traders to set a predefined entry price above or below the going rate, depending on whether it’s a buy or sell order, while also choosing a tolerance range for execution.
This order type is particularly useful in fast-moving markets, as it is automatically canceled if the market gaps are over the chosen rate and the tolerance interval. The trader can also choose the expiration time for the order, providing even greater control over their trading strategy.
What are the Features of the LCG trading platform?
LCG, also known as London Capital Group provides traders with a comprehensive suite of features, ensuring a seamless and efficient trading experience. These features include:
A wide range of tradable instruments
LCG offers access to over 7,000 assets across various markets, such as Forex, Indexes, Metals (spot), Bonds, Commodities, Options, ETFs, and Individual stocks.
Advanced trading tools
Traders can utilize charting tools, technical indicators, and customizable watchlists to make informed decisions and refine their strategies.
Competitive spreads and low commissions
LCG is known for its competitive pricing structure, ensuring traders can maximize their profits.
Platform choice
Users can choose between the popular MetaTrader 4 (MT4) platform and LCG’s proprietary LCG Trader platform, catering to different trading preferences.
Educational resources and market analysis
LCG provides educational materials and market insights to help traders stay informed and develop their skills.
Customer Service
LCG (London Capital Group) offers telephone, chat, and email support Monday–Friday, 8 a.m.–7 p.m. U.K. time (24/5). The “dealing desk” is also available for clients who require immediate assistance. Hold times via chat and phone are short, and representatives are quick to respond and courteous.
Live chat can be launched from within the LCG Trader platform for added convenience. LCG’s FAQs are informative and well-organized.
Education
While LCG’s educational offerings are similar to basic-level videos and articles offered by other brokers, they provide helpful background information for new investors. However, it is not recommended to rely solely on LCG’s education for market proficiency.
Portfolio Analysis
LCG Trader’s “Active Market Panel” offers a wealth of real-time data, including ‘margin required,’ ‘pip value,’ and ‘trade value,’ enabling traders to make informed decisions.
Research Amenities
LCG’s analysis and insights supplement their educational resources, connecting traders to the market. Their analysis “team” consists of one individual who provides above-average, actionable content. Trading Central’s written technical reports, economic calendars, and market-wrap articles are also available.
Security
LCG ensures client funds are not co-mingled with corporate funds, in accordance with the U.K. Financial Conduct Authority’s (FCA) client money rules. This protects client assets by holding those funds in segregated accounts at regulated banks in case of LCG’s insolvency. Clients also have additional asset protection through the Financial Services Compensation Scheme (FSCS), up to £85,000.
LCG provides clients with a guarantee that they will never lose more than the funds available in their accounts through negative balance protection. Guaranteed stop losses can be used on some instruments, depending on market conditions, but are subject to an additional cost as long as they are kept open.
How much are LCG Commissions and Fees?
The main method used by LCG to recoup trading expenses is through aggressive spreads that adhere to standards set by the industry. Only on LCG Trader is it possible to use guaranteed stop losses (GSLO), which usually comes at an extra cost of 3 pip.
LCG charges a commission on both sides of the spread for trading individual shares and ETFs. According to their website, “Additional Spread is the spread LCG adds to the Market ask and subtracts from the Market bid prices.”
Traders who choose an ECN account can get LCG’s greatest spreads, albeit there is a distinction between LCG Trader and MT4 in terms of spreads. An ECN account requires a minimum deposit of $10,000.
The website for LCG states: “Commission of $45 per $1,000,000 traded will be charged on all symbols on LCG Trader and $10 per lot on MT4.” Even while this information is correct, it may be misconstrued because an ECN MT4 account has greater fees than an ECN LCG Trader account. In contrast to MT4, where one lot equals 100,000, the total cost for an ECN LCG Trader trade of $1,000,000 would be $100 + average spread instead of $45 + average spread.
High-balanced customers might request upscale services like VIP Analysis from TSE, which LCG may or may not deliver. Additionally, there is a rebate program with a base rate of £4/million and a variable rate based on trading volume for active traders.
LCG assesses a £15 monthly inactivity fee and a 2% cost on credit card deposits for any live account that has not had any trading activity for 180 days (6 months). There are no additional fees.
Although there is no minimum deposit requirement for consumers opening a “standard” account, the deposit sum should be enough to cover the margin needs of the smallest trade size the customer desires to place. A $10,000 deposit is needed to open an ECN account.
Who is LCG Best For?
LCG (London Capital Group), one of the most important forex brokers situated in the United Kingdom, provides clients with access to a comprehensive selection of asset classes and a streamlined trading experience. The company’s prices are among the lowest in the industry, and it receives a high mark from us for the quality of service it provides to clients.
LCG is an excellent choice for novice traders due to the presence of the aforementioned beneficial characteristics as well as its apparent emphasis on practical simplicity.
Its fee structure is more competitive than those of other industry participants, and its customer service is of a higher caliber than those of its competitors, ensuring that traders always have access to the assistance they require. Because of the importance it places on the functional simplification of its platform, LCG has developed a user-friendly interface that makes it easy for newcomers to traverse the world of trading.
Traders with more experience will find that LCG’s extensive trading tools, instructional resources, and market research make it an appealing alternative. This is in addition to the fact that LCG is interesting to new traders.
Traders are able to tailor their experiences to their individual interests and levels of expertise thanks to this platform’s extensive selection of tradable products as well as its provision of a choice between the MetaTrader 4 (MT4) and the LCG Trader platforms.
As traders advance in their careers, LCG continues to give the necessary tools and resources to promote their advancement in the ever-evolving financial markets. These tools and resources are designed to assist traders in becoming more successful.
The combination of LCG’s reasonable costs, superb customer support, and user-friendly platform make it an excellent choice for novice traders as well as those with more expertise.
Due to the fact that it places a strong emphasis on meeting the varied requirements of its customers, traders are able to securely rely on LCG as they traverse the world of trading and work toward achieving their financial objectives.
LCG Pros and Cons
Let’s consider the pros and cons in detail!
Pros
- Wide range of tradable instruments
- Competitive pricing and low commissions
- Choice of trading platforms (MT4 and LCG Trader)
- Excellent customer support
- In-depth educational resources
Cons
- Inactivity fees may apply
- Limited availability of cryptocurrencies
- No support for clients from the United States
LCG User Experience
Any browser (Chrome, Firefox, Safari, or Internet Explorer) can easily access the streamlined trading platform LCG Trader. With its revamped appearance and feel, one-click trading, and complete connectivity across desktop and mobile platforms, this product—the company’s flagship—should be a good choice for new traders.
With the help of LCG Trader’s straightforward and user-friendly interface, traders can create watchlists, examine charts, execute and track transactions, check an instrument’s “depth-of-market,” and keep track of forthcoming events using the market calendar.
The technical analysis charts have more than 70 technical indicators that you may use over a variety of time frames, from tick charts to monthly charts, and they can be extended to full screen. For traders searching for a dependable downloading platform, LCG also provides a MetaTrader 4 (MT4) solution.
Thousands of financial instruments are accessible through LCG Trader, and these can be traded from the chart or using the new order window. On the instruments they are tracking, traders can also establish price-based alerts, and LCG Trader will send them an email or text message when the price goal has been met.
LCG Trader is, unfortunately, a closed system. Advanced traders will be unhappy to learn that they cannot directly combine those tools with LCG Trader, but that option is available with the MT4 platform. Advanced traders prefer to incorporate various analytical and automated tools in their trading process.
LCG vs Competitors
#1. LCG vs Avatrade
Online brokers LCG and Avatrade both provide trading services across a range of financial markets, including currency, equities, commodities, and indices. However, there are certain distinctions between the two that should be taken into account when selecting a broker.
The trading systems used by LCG and Avatrade are one of their primary differences. LCG employs its very own mobile and desktop application called LCG Trader, a proprietary trading platform. On the other side, Avatrade provides a number of trading platforms, including their own platform called AvaTradeGO and the well-known MetaTrader 4 and 5 platforms.
The trading fees charged by LCG and Avatrade are another significant distinction. For trading currency and shares, LCG levies a commission; for all other instruments, there is a predetermined spread. On the other hand, Avatrade levies a spread on all of its instruments, so the costs are incorporated into the price. Avatrade, on the other hand, provides more affordable spreads, particularly for currency trading.
In conclusion, a variety of trading platforms and instruments are provided by both LCG and Avatrade. For traders who desire more affordable pricing and access to well-known trading platforms like MetaTrader, Avatrade might be a better choice. However, before selecting a broker, each trader should thoroughly consider their needs and preferences.
#2. LCG vs RoboForex
Two well-known Forex brokers that provide their clients with a variety of trading services are LCG and RoboForex. Although they each have a lot to offer, there are some significant variations between the two brokers.
LCG has been in business for more than 20 years and has built a solid reputation as a trustworthy and dependable broker. They provide a variety of trading platforms as well as a large selection of trading instruments, such as Forex, stocks, commodities, and indices. To assist traders in honing their skills, LCG also provides a selection of tools and instructional resources.
On the other hand, RoboForex is a more recent broker that has existed since 2009. Along with a selection of trading instruments, they provide a choice of trading accounts, including ECN, Cent, and Pro. Along with the well-known MetaTrader 4 and 5 platforms, RoboForex also offers a proprietary trading platform. RoboForex also provides traders with a number of benefits and promotions, such as a welcome bonus and a loyalty program.
Overall, traders can benefit greatly from both LCG and RoboForex. The demands and interests of each trader ultimately determine which broker is best, though. LCG might be a better choice if you’re seeking for a more reputable broker with a large selection of trading instruments and educational materials. RoboForex can be a better option if you’re seeking for a newer broker with a selection of trading accounts and bonus deals. Before choosing a broker, it’s crucial to conduct your own research and evaluate their features and services.
#3. LCG vs FXChoice
The two well-known online brokers LCG (London Capital Group) and FXChoice offer access to trading on a number of financial marketplaces. Although they both provide advantages like low spreads, quick execution, and a selection of trading platforms, there are some distinctions between the two brokers.
The regulatory status of LCG and FXChoice is one of their primary differences. One of the most reputable financial regulatory organizations in the world, the Financial Conduct Authority (FCA) in the UK, oversees LCG. The International Financial Services Commission (IFSC), a less strict regulatory body in Belize, is in charge of overseeing FXChoice, on the other hand. In other words, traders who value regulatory control may favor LCG over FXChoice.
The variety of trading products that LCG and FXChoice both offer is another significant distinction between them. While FXChoice focuses solely on forex trading, LCG offers a larger range of trading options, including forex, indices, commodities, and shares. LCG might be a better choice for traders who want to trade a wide variety of financial assets.
Finally, it can be said that both LCG and FXChoice provide fair trading conditions and a variety of features to meet the demands of various types of traders. However, LCG is a superior option for traders who value regulatory compliance and want to trade a variety of financial products due to its higher regulatory control and wider range of trading instruments.
Choose Asia Forex Mentor for Your Forex Trading Success
If you have a keen interest in establishing a successful career in forex trading and aspire to achieve substantial financial gains, Asia Forex Mentor stands as the optimal choice for the best forex, stock, and crypto trading course. Ezekiel Chew, renowned as the visionary behind trading institutions and banks, is the driving force behind Asia Forex Mentor. On a personal note, Ezekiel consistently achieves seven-figure trades, a distinction that truly sets him apart from other educators in the field. Here are the compelling reasons that underpin our recommendation:
Comprehensive Curriculum: Asia Forex Mentor offers an all-encompassing educational program that covers stock, crypto, and forex trading. This well-structured curriculum equips aspiring traders with the knowledge and skills necessary to excel in these diverse markets.
Proven Track Record: The credibility of Asia Forex Mentor is firmly established through its impressive track record of producing consistently profitable traders across various market sectors. This achievement serves as a testament to the effectiveness of their training methodologies and mentorship.
Expert Mentors: At Asia Forex Mentor, students benefit from the guidance and insights of experienced mentors who have demonstrated remarkable success in stock, crypto, and forex trading. These mentors provide personalized support, enabling students to navigate the intricacies of each market with confidence.
Supportive Community: Joining Asia Forex Mentor brings access to a supportive community of like-minded traders pursuing success in the stock, crypto, and forex markets. This community fosters collaboration, idea-sharing, and peer learning, enhancing the overall learning experience.
Emphasis on Discipline and Psychology: Success in trading necessitates a strong mindset and disciplined approach. Asia Forex Mentor provides crucial psychological training to help traders manage emotions, handle stress, and make rational decisions during trading.
Constant Updates and Resources: The financial markets are dynamic, and Asia Forex Mentor ensures that students remain up-to-date with the latest trends, strategies, and market insights. Continuous access to valuable resources keeps traders ahead of the curve.
Success Stories: Asia Forex Mentor takes pride in a multitude of success stories where students have transformed their trading careers and achieved financial independence through their comprehensive forex, stock, and crypto trading education.
In summary, Asia Forex Mentor emerges as the premier choice for those seeking the best forex, stock, and crypto trading course to carve a rewarding career and achieve financial prosperity. Through its comprehensive curriculum, experienced mentors, practical approach, and supportive community, Asia Forex Mentor provides the necessary tools and guidance to mold aspiring traders into accomplished professionals across diverse financial markets.
RECOMMENDED TRADING COURSE | REVIEW | VISIT |
 | #1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try! |
Conclusion: Is LCG a Good Platform for Investors and Traders?
In conclusion, LCG stands out as a top choice for both novice and professional traders who are seeking a comprehensive trading experience with access to a wide variety of markets, including cryptocurrencies, options, and CFD trading. With its diverse range of trading instruments, LCG caters to active traders and provides a competitive edge in the industry.
The platform offers reasonable and competitive spreads, even if they may not be the absolute lowest available. This, combined with features such as maximum leverage, multiple account types, including demo and Islamic accounts, managed accounts, and negative balance protection, ensures that LCG clients enjoy a secure and tailored trading experience.
For those looking to start trading or expand their investment services, LCG’s user-friendly platform, dedicated customer support, and educational resources make it an ideal choice among online brokers. Moreover, the LCG Group’s commitment to providing exceptional service and maintaining a strong reputation in the industry reinforces its position as a reliable and trusted broker for both novice and professional traders alike.
RECOMMENDED TRADING COURSE | REVIEW | VISIT |
| #1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try! |
LCG FAQs
Is LCG regulated?
Yes, LCG is regulated by the Financial Conduct Authority (FCA).
What trading platforms does LCG offer?
LCG offers two primary trading platforms: LCG Trader and MetaTrader 4 (MT4).
What is the minimum deposit required to open an account with LCG?
The minimum deposit for an LCG account is $1.
