Introduction
LCG or London Capital Group was primarily a financial spread-betting broker that eventually ventured into offering CFD trading services with access to over 5,000 markets from their suite of platforms. They advertise to potential clients that they can “trade with confidence” as they are authorized and regulated by the Financial Conduct Authority which is known to have the very strictest standards for their licences. Such an impressive portfolio on paper but are they able to live up to what they advertised? You may continue reading this LCG forex review to find out.
Account Features
Demo Account: The risk-free way to practice
You can sign-up for an online demo account and still enjoy the trading environment that is the same with the live account. In this way you can check out the platform without risking your real funds.
Bonuses: 10% extra fund
They offer a 10% bonus on any initial deposit on the LCG Trader platform for any amount exceeding $500. That means if you deposit $500 then you will get an extra fund of $50 and this will go higher if you increase your initial deposit. They also offer a monthly rebate scheme for their clients.
Trading Details
Platform: Popular and proprietary
They offer two major platforms. The LCG Trader is a web-based proprietary platform which allows you to trade on 7 asset classes without the need to install any software on your computer. They also offer the widely used MetaTrader 4 which comes with charting functions, indicators and other functionalities that you can take advantage of improving your trading results.
Mobile Trading: Simple user interface
Their mobile platforms allow you to manage your trading positions while you’re on the go and the great thing is that all the functionalities of the desktop platform are still accessible. Its interface is also customisable and comes with a full suite of technical indicators and tools.
Minimum Lot Size: Micro lots allowed
This brokerage accepts a minimum lot size of 0.01. This matches the smallest lot size that the majority of brokers allow for their clients to trade on.
Maximum Leverage: Larger returns at stake
If you prefer a higher leverage, you can set it up to a maximum of 1:500. With this ratio, the potential profits that you may earn are increased but always remember that potential losses are increased as well and that you capital may be at risk.
Spreads: With transparent pricing
LCG offers tight spreads and this is due to their transparent pricing with forex majors such as the EUR/USD and GBP/USD having spreads as low as 1 pip.
Tradable Instruments: Over 5,000 choices available
Among the strongest advantages of this brokerage is that they provide access to over 5,000 trading instruments spread across 7 asset classes. This will allow you to diversify your trades and explore other markets without the need to find another broker.
Deposit & Withdrawal/Support
Minimum Deposit: Any amount you wish
You can initially deposit any amount on your account as they require no minimum. However, if you would like to take advantage of their bonuses then you need to deposit at least $500 on your account.
Deposit Methods: Fast and secure options
Among the payment methods that they accept for making a deposit are debit and credit cards, bank transfer and online payment services including Skrill.
Withdrawal Processing Time: The same business day
If you would like to withdraw the funds from your account, you need to accomplish an online request form on their website. The processing of the refunds is quick and normally gets done within the same business day. Do take note that some fees apply for UK customer withdrawals.
Support
Channels: The common ways
Phone, email, and live chat support are available for anyone who wishes to get in touch with them.
Availability: Depends on department
The main customer service lines are open from Sunday 22:00 and closes on Friday 22:00 (GMT) while their sales department is open from Monday 08:00 to Friday 20:00 (GMT).
Supported Languages: Plenty of choices
They have support for clients who speak English, German, Spanish, Russian, French, Italian, Polish, Malaysian, Indonesian, Thai, Arabic, Korean and Turkish.
User Reviews
Average User Rating: 9.0
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Editor’s Opinion
Platform Design: Fluid and uses official brand colour
Their platforms are very responsive but aside from this advantage, what’s noticeable is that it uses the cyan colour which is the official colour of their brand. It’s visually pleasing and makes the browsing experience much more inviting.
Support: Personal account managers for Premium account holders
Communicating with the support team is easy, they are quick to answer your call giving immediate assistance when you need it. They also assign personal account managers for clients who avail of their Premium service.
Reputation: An established CFD and spread betting provider in the UK
London Capital Group has been in the online trading industry for two decades and based on the number of credible reviews and user comments, they have a well-established brand name as a CFD and spread betting provider particularly in the UK where they are authorized and regulated by the Financial Conduct Authority (FCA).
Conclusion
Editor’s Rating: 90
LCG utilizes an array of trading platforms and applications that are bundled with useful functionalities, premium services and an excellent support. And with the regulatory oversight of the FCA, you are assured that they operate in accordance with the strict standards and practices. If your priority is security and service reliability then LCG should be your top option.