September 20, 2021

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LCG – The London Capital Group – Broker Review 2020

9 min read

The London Capital Group has been active in the market for more than 20 years and has a very good reputation in online brokerage community. Traders who would like to be active in forex trading, find here a very good trade offer. Although it is a market maker, traders can also use an ECN account.

Safety is an important issue at LCG. Again, the broker offers the best conditions, since it is regulated by the Financial Conduct Authority. The UK Financial Services Authority has strict rules regarding the regulation of online brokers. Our review has also shown that the broker can convince with a very good support. In addition to optimal accessibility, the employees are considered to be very competent and friendly. So if you have questions and problems, it is a good idea to use the support directly. Further details can be found in our LCG test/review/report.

The facts at a glance
Regulation through the FCA
Trading via MetaTrader 4 and proprietary platform
Forex trading with over 60 currency pairs
Support available in different ways
Very broad range of training
Max. Leverage of 1:500
Broker Name: LCG [London Capital Group]
Broker type: Market Maker (ECN account also available)
Established in 2003
Headquarters United Kingdom
Regulated by FCA (UK)
Account Currencies EUR, GBP, USD
Account from $0
Payment Methods: Credit Card, PayPal, Skrill, & Bank Transfer
Max. Leverage: 1:500
Margin from 0.2%
Spread on majors: EUR/USD:1, GPB/USD:1
Number of currency pairs 60 + other financial instruments
Trading Platforms MT4, LCG Platform
Mobile Trading: yes
Demo account Yes
Languages: English, French, Spanish, and more…
Support phone, chat, & contact form

  1. Trading at LCG
    In order to start trading at LCG, it makes sense to first take a look at the trading opportunities as well as the platforms that are made available to the traders. The broker offers more than 60 currency pairs in which positions can be opened. That’s a solid foundation for the traders. Additionally, LCG gives you the ability to trade CFDs. Here, the range of underlyings is even higher.

The basis for trading with a broker is the trading platform. The London Capital Group is known for the use of excellent trading platforms that are made available. When opening an account, traders choose from two different options.

The broker’s own trading platform
Many brokers are choosing to launch their own platform. Of course, this has the advantage that the platform can be tailored directly to the customer’s requirements. Based on the feedback, a proprietary platform is created. The LCG trading platform is kept very clear in structure and at the same time optimally adaptable. This gives traders the opportunity to set up the platform according to their own needs/wishes. Features offered by the London Capital Group in relation to the platform are as follows:
Price alert, so you don’t miss good offers and react quickly
Placement of notifications by the trader
High security in trade
The rotation of positions is offered
Technical indicators for the development of a strategy
One-click trading: start trading from the charts

MetaTrader 4
MetaTrader 4 has a long tradition among traders. Anyone who takes a look at the trading platforms at any broker, quickly realizes that MT4 is very popular. There are many reasons for this. The platform can be adapted to the needs of each trader. This is one of the most important prerequisites for being able to customize your trading platform according to your needs. Also, the MT4 has a few other benefits that may be interesting for the trader:
Automated trading thanks to Expert Advisors
Use of stop-loss to protect your capital
Extension of different charting functions possible
Use of price alert
One-Click Trading: Start trading directly from the charts

LCG trading platform – LCG allow trading in MT4 and its proprietary trading platform
Another interesting point for us in our review was the question of what the trading conditions at the London Capital Group are. These cannot be summarized in this overview, since they are dependent on the selected currency pairs in Forex trading. If you would like to find out what the spreads look like or what exactly the use of a guaranteed stop costs, you can find out more in the broker’s website and get all the current fees directly. We strongly recommend that you take a look at this table before setting the position.

  1. Account opening and training at London Capital Group
    Anyone who wants learns about the trading offers of London Capital Group and wants to start forex trading here first needs to opens an account with the broker. One of the biggest benefits that LCG has to offer is account opening without minimum deposit. The market has many forex brokers, but a large number of these brokers demand a certain minimum deposit. This is because brokers want to avoid inactive customers. Signing up with a broker is done quickly. However, those who do not start trading then have no value for the broker. So minimum deposits are required for traders to become an active trader.

That’s not the case with the London Capital Group. Traders do not enter into any financial obligations when they register. Instead, they can take a look around the platform and decide if they want to invest money here. Trading can also be started if the trader only transfers a few dollars to his account. So he has the opportunity to first deal with the platform and to see if the offer of the London Capital Group can convince him or her.

If the London Capital Group has been able to convince you with their features/offers, then there is nothing in the way of opening an account. This is done very quickly with three steps. The first step is to specify the email address and phone number as well as the selection of the trading platform. Traders must therefore decide directly which trading platform they want to use. Once the decision has been made, the second step is taken. This includes the question of further personal data. Before the registration can be completed, they ask for some personal experience in trading. Again, this point is important for the trader as he can once again be made aware of where he is going with forex trading and what precautions should be taken before investing.

Further education at LCG in detail
With proper training, every trader can achieve his goals. Many brokers today provide a very well structured education area. This allows traders to get everything from one source. Those still in their infancy, when it comes to forex trading, are worried about many topics. It starts with the technical terms and goes up to the theory and practice of trading. The London Capital Group’s continuing education program provides good support to develop their own knowledge and thus have the best foundation for trading.

This allows traders to make use of a selection of webinars. The webinars make it possible to work on topics in one’s own four walls. Due to the time flexibility, they are particularly interesting for traders who are heavily constrained. Often, however, personal contact is also sought and offered through the London Capital Group seminars. At the seminars, interested people get in contact with successful traders and can use the exchange to learn something.

The trading material offered by LCG around Forex trading is rounded off by trading videos and platform tutorials. These grants provide a very good point of contact if any questions remain.

  1. Key questions and answers about LCG’s

Do I have to make a minimum deposit with LCG?
No, a minimum deposit is not needed by the London Capital Group. In our review/test ofn the provider’s website, we checked for minimum deposit information; such is not required by the broker. This is an interesting point for traders. Our experience has shown that many traders are deterred by a minimum deposit requirement. But where exactly is the problem? It is probably primarily because traders are required to invest an amount they may not want to invest.

The trick to make the minimum deposit and then pay back part of the money is not so rare. It gets annoying only if there are fees for the payment. However, traders do not need to worry about London Capital Group. Here you can start trading with little money.

How many currency pairs does the broker offer LCG?
In our test, we focused on the offer around the forex market. Of course we were also interested in how many currency pairs are available. London Capital Group has around 60 currency pairs to choose from. The amount of currency pairs offered plays an important role for some traders in deciding for or against a broker. As good as any broker has the majors on offer, but not every trader wants to be satisfied with the majors. Exotic currencies are an interesting aspect; and the bigger the offer from a broker, the more variety is offered. If you do not need this change at the beginning, you might be happy about it later. Therefore, looking at the amount of currency pairs in a forex broker cannot hurt. With around 60 currency pairs, the London Capital Group offers an interesting basis for successful trading.

Does LCG provide any security for customers
Security has many facets with a broker. First and foremost, there is the protection of client funds. This should be guaranteed, and this is apparently the case with the London Capital Group. This is regulated by the Financial Conduct Authority. Brokers who wish to retain this regulation must demonstrate that all requirements are met. LCG also offers its traders other options in terms of security. For example, the hedging of positions plays a major role.

Then there is the guaranteed stop. This can be claimed in many positions. The guaranteed stop comes at the moment when there is a gap in the market. So no slippage can arise. However, if you want to secure your capital in this way, you have to give away some money, because there are fees. The amount of fees depends on the size of the trade and the guaranteed stop factor. A trader who has a trading fee of $4s and a factor of 2, pays once $8 to use the guaranteed stop. Important to know: the one-off bonus will not be refunded even if the trader has not used the guaranteed stop but closed the position beforehand.

What kind margin is to be expected?
There is no general margin applicable to forex trading via the London Capital Group. Thus, the broker offers a so-called market information page. This means that traders can get an overview of the margin level and thus carry out the calculation. If you need help, you can call the support. In addition, a stop-out can be used.

How to reach the support?
It is always possible that questions or ambiguities arise. If a trader is in such a position, he or she does not want to wait too long for answers. Support and service with a broker are therefore particularly important. Both have a high priority at LCG. Therefore, traders can reach customer service in several ways. This works, for example, via live chat. If this person is staffed, the answer is immediate. If not, a message can be left and an employee will answer later.

Also, the contact form is a very popular way to make a demand. This applies in the first place, if the answer is not so urgent or you would like to have everything in writing. If you are looking for a fast reply, then the phone support can be claimed.

  1. Is LCG a legitimate or scam forex broker?
    The London Capital Group is a UK broker that has been in the trading business for more than 20 years and has gained numerous big clients over the years. Regulation is carried out by the FCA. The UK Financial Services Authority has a reputation for being particularly strict. In fact, it is even considered one of the authorities that attaches great importance to regular inspections and compliance. Of course, even a regulated broker can be involved in cheating. However, this is unlikely to be the case with the London Capital Group.

LCG is regulated by the FCA
Again and again, traders read online reviews/reports from other traders, where LCG can be accused of fraud. However, it often turns out that these are subjective feelings and that the trader may have been annoyed by losses in trading. In our test/review, we found that there is no reason for the broker to see a dubious behavior.

  1. LCG Conclusion
    LCG is not a new player in the market, but a broker with a history. Our review has shown that the London Capital Group provides a fair dealing desk, has very good support, and can also score transparency fees. The optimal offer of trading platforms plays just as important a role in the good valuation as the wide range of currencies for forex trading.

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