LCG London Capital Group Review – Who is Behind This Broker?
LCG London Capital Group is a well-renowned company today. It has been in business since 1996, which is the same year online trade was first implemented. Initially successful, the company formed a number of subsidiaries over the years, the most notable one being Capital Spreads in 2003.
It would be the financial injection of one Swiss entrepreneur, Charles-Henri Sabet in 2014 that would launch the company to new heights. The mentioned gentleman is now the CEO of the company. LCG London Capital Group is one of the more well-known financial services companies thanks to their global brand ambassador, tennis player Stan Wawrinka.
Flashy commercials and sports sponsorships don’t make a company, however. What gives us a good indicator of a company’s quality of service is a trading license. LCG London Capital Group is licensed in 3 different jurisdictions, and all 3 are known for very strict licensing regulations.
With its high-quality trading software, good customer service, and even better education, LCG London Capital Group is one of the best contemporary broking service providers.
In addition, we recommend reading our reviews about brokers SVK Markets, Blueberry Markets, and Trade Republic.
|Regulation||FCA, CySEC, SCB|
|Instruments||Forex, Shares, Indices, Commodities, Bonds and Interest Rates, Spot Metals, Vanilla Options, Spread Betting (UK)|
|Platforms||MT4, LCG Trader|
|EUR/USD Spread||1.45 pips|
|Education||Guides, Videos, Webinars|
How Are You Protected at LCG London Capital Group?
Because of recent epidemiological and political events, online trade markets have become more volatile than ever. It is because of this volatility that it has become increasingly important to check every company’s portfolio before engaging in business. You will be happy to know LCG London Capital Group is a fully licensed broker, with multiple international licenses.
Licensing rights in the UK where LCG London Capital Group is based, are handled by FCA. This financial regulator is somewhat notorious for the strict criteria that must be met before issuing a license to any firm.
In the UK, a broking company must hold a minimum of £730 000 of trading capital. Regulations also require an £85 000 compensation fund, as well as full transaction transparency. All client’s funds must be in segregated bank accounts, and leverage is restricted to 1:30. Bonuses are banned, but negative balance protection is required by law.
LCG London Capital Group is also adherent to the licensing rights of Cyprus. Being in the EU, Cyprus CySEC is another well-established regulator. For brokers operating in the EU, most criteria are the same as with the UK. Additional MiFID rules do apply in Cyprus, allowing traders to enjoy an additional layer of protection.
A license issued by Bahamas’ SCB is somewhat less restrictive than the ones mentioned before but is trustworthy nevertheless. All in all, with LCG London Capital Group’s history and adherence to all these regulations, we can confidently call them a secure company that is a good investment partner.
Deposits and Withdrawals
To be an online trader is to have all your assets in the palm of your hand. LCG London Capital Group understands this and has thus created various channels to ensure a safe and hasty flow of currency.
These are the methods through which a client may deposit and withdraw their funds:
- Bank Cards: Visa, MasterCard
- E-wallets: Skrill, Neteller, UnionPay
- Bank wire transfers
Depending on some deposit methods, you may expect some wait time before the account is updated. Although you can expect immediate updates with electronic payments such as bank cards and e-wallets, bank wire transfers still take between 24-48h to process. All deposits are handled with no fees, and there is no minimum deposit amount for standard accounts.
Withdrawals are handled with speed and efficiency as well, and LCG London Capital Group charges no withdrawal fees. We should mention that the bank and e-wallet companies do charge some commission for using their services, so some additional costs are to be expected.
Trading Platforms Overview
LCG London Capital Group has directed its services towards beginner traders. There are two platforms on offer currently, and all accounts can be used on any of the two. These platforms are MetaTrader4 and proprietary LCG Trader.
MetaQuotes first launched their world-famous MetaTrader4 in 2005. Since this time a number of updates to the software have been applied. It now features an easy-to-understand user interface and a full spectrum of trading tools. These tools include custom indicators, scripts, and Expert Advisors.
LCG Trader is a platform commissioned by LCG London Capital Group to answer to the needs of their distinguished clientele. The software has a simplified GUI that is easy to understand and quick to learn. It offers all the tools a trader would expect, with additional spread betting support for UK users.
Account Types Available
Depending on your country of residence, you may expect different accounts on offer. More high-end accounts implement ECN technology, and special provisions were made for Shariah users. For academic purposes, a demo account is also available.
|Broker||LCG London Capital Group||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
Let’s have a look at the accounts that are currently on offer:
- CFD account for standard trading
- Spread Betting accounts for clients in the UK
- ECN accounts for fast market execution
- Islamic accounts are swap-free for clients trading under Shariah
- Demo account for students and market analysts
Currently, all accounts have a $1 minimum deposit amount, except the ECN account which offers quicker market execution but has a minimum deposit of $10 000. UK clients can also utilize a spread betting account. Islamic traders can open a swap-free account that is compliant with Shariah, and for academic purposes, a Demo account is provided.
Fees and Spread
LCG London Capital Group has no outstanding fees currently, and is entirely swap and spread-based. Now, you’d expect spreads to be on the loose side, but on the contrary, they are quite tight, beginning with as little as 1.45 pips for EUR/USD. An inactivity fee is charged, though.
Our staff has tested some of the trading features on LCG London Capital Group, and this is what we found out:
- Forex pairs spread starting at 1.45 pips
- Precious metals spread starting at 3 pips
- Energies spread starting at 3
Having accounts that are charged entirely through spread and swap allows novices and beginners to have more control over their financial flow on the platform. It’s a good method of risk management, with predictable expenditures.
As mentioned before, LCG London Capital Group is oriented towards novice and beginner traders. This extends to their educational resources as well. Trading guides and trading videos are quite informative and high quality and an FAQ database is quite comprehensive.
More senior traders will find LCG London Trading Group’s analysis reports very useful indeed. Economic calendars and news are posted regularly, and there is technical analysis, as well as analysis videos on the site. Regular webinars are organized for beginners and advanced users alike.
A demo trading account is provided for risk-free practice and analysis.
It has become the norm for any online trading broker to have a customer support service, and LCG London Trading Group is no exception to this. Their customer support teams are available during work days, that is 24/5.
Users can contact customer support through several options:
- Website live chat
- Call center +1 (0) 242 601 6866
- Email address [email protected]
- Mail address
The company also has a developed online presence on LinkedIn, Youtube, Facebook, Instagram, and Twitter. Clients can use these web-based platforms to contact customer support as well.
LCG London Capital Group is based in London, UK. This company is a fully licensed broker in three jurisdictions: FCA (the UK), CySEC (Cyprus), and SCB (Bahamas). It’s a broker that has a good track record and a history of stability and success.
This online broker offers two trading platforms, MT4 and LCG Trader. Accounts that are available are CFD Trading, Spread Betting (in the UK), and ECN. Islamic accounts for swap-free trading and demo accounts are also available.
Broking services are spread and swap based, which allows for easier risk management. Additionally, their website hosts high-quality education and customer support.
FAQs About LCG London Capital GroupBroker
What Are LCG London Capital Group Fees?
Currently this broker charges no fees for deposits, or withdrawals. A daily swap free is charged, as well as an inactivity fee.
Is LCG London Capital Group a Regulated Broker?
LCG London Capital Group is a fully regulated broker that possesses licenses in the UK, Cyprus and Bahamas.
What Is the Minimum Deposit at LCG London Capital Group?
Although the company insists that the minimum deposit is $0, for all practical purposes minimum deposit is $1.