Three largest brokerages such as CMC Markets, LCG and Pepperstone and two more major companies have applied for getting the Dubai Financial Services Authority license. These companies want to acquire an operating license in Dubai. The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone, the Dubai International Financial...
- Is LCG safe or a scam?
- Trading Fees
- Deposits and Withdrawals with a specification of minimum deposit and withdrawal fee
What is LCG?
London Capital Group known as LCG operates over two decades in online trading, which brings a state that you are trading with an experienced broker established in reputable jurisdiction UK and Cyprus. Their commitment to provide competitive prices, advanced technology and professional service for all types of traders offered by over than 7,000 products across 9 asset classes.
The client gets access to trade Forex, Indices, Commodities, Shares, Bonds and Interest Rates, Cryptocurrencies, ETFs, as well Vanilla Options.
Furthermore, LCG received fresh approaches with capital investment, amounting to £17 million from an investment banker. Hence LCG has undergone massive changes to upgrade the quality of services and expand their range.
10 Points Summary
|🗺️ Regulation||FCA, CySEC|
|🖥 Platforms||LCG Trader, MT4|
|📉 Instruments||ETFs CFDs and spread betting (for UK residents only). Shares, Bonds and Interest Rates, Indices, Commodities, Spot Metals, Forex, Vanilla Options|
|💰 EUR/USD Spread||1.45 pips|
|🎮 Demo Account||Available|
|💳 Minimum deposit||0 US$|
|💰 Base currencies||Several currencies offered|
|📚 Education||News, expert analysis, tutorials, seminars|
|☎ Customer Support||24/5|
The constant support comes from the company by customer service teams available in multiple languages, as well by LCG’s breaking news, expert analysis, tutorials, seminars and trading education.
Along with that, LCG has established as a specialist provider of comprehensive financial trading services and advanced educational systems. Overall, LCG implements innovations and fresh solutions to all trading process, which confirmed by the number of their clients or partners, as well as various international awards that have recognized their strives.
In addition, LCG is an official sponsor of Stan Wawrinka, the famous tennis player, role model and global brand ambassador.
Is LCG safe or a scam?
London Capital Group Holdings plc (LCG Group) is a company registered in England and Wales, as well is a member of the NEX Exchange. LCG as a UK based company is authorized and regulated by the Financial Conduct Authority (FCA, UK).
Moreover, the Cyprus entity was conducted as a London Capital Group (CYPRUS) Limited (LCG CY) that respectively operates under the supervision of Cyprus Authorities and Cyprus Securities and Exchange Commission.
As a regulated brokering services provider, with 20 years of experience, the broker is committed to strict rules of operation, while dealing with clients’ and their funds transparently, as well shows performance efficiency. The confidence of secure funds storing provided by the tailor-regulated rules, that includes holding of client’s funds in Tier 1 bank, full segregation of accounts and participation in the scheme or compensation funds in case things goes wrong with the Broker.
The broker mainstays in its unique multi-asset proprietary trading platform LCG Trader, which features a reliable trading experience across financial markets with access to a comprehensive range of market data and analysis on trading strategies.
Developed specifically for the demanding brokerage, LCG Trader allows easy trade any asset offered by LCG from wherever client finds himself, and at almost any device. LCG Trader making it truly one of the best online trading platforms.
Yet, you still can choose prominent MetaTrader4 and enjoy broker’s execution technologies, which actually a truly winning combination. The success of MT4 is largely great to its powerful charting functions, a large number of available indicators and its algorithmic trading functionality.
MT4 has long established itself as the standard in online trading due to its safe, secure, easy to use yet packed with advanced features for traders good. MT4 trade available through desktop, tablet, mobile and multiterminal.
Fees and Accounts
LCG offers a variety of markets with tight spreads, low commission on share CFD trade and margin requirements, as well with additional monthly cash rebates. The markets range including ETFs, available via CFD and spread betting (for UK residents only).
Shares presented on over 3,500 UK, US and European markets, Bonds and Interest Rates, Indices, diverse of Commodities, Spot Metals with long or short position, of course Forex through popular pairs and Vanilla Options that can be used of nearly any market condition on UK 100, Germany 30, EURUSD, GBPUSD, USDJPY and UK, EU and US equities.
The account can be opened through an online application, which will offer as well Islamic account option and ECN option for traders and institutions who trade large volumes. ECN spreads starting from 0 pips with no requotes for those who maintain a 10,000$ balance along with a commission of $45 per $1,000,000 traded.
As for the trading costs or spreads, LCG offered spread varies according to the traded instrument and averaged by 1.45 pip for EURUSD, however, spreads may be slightly different at two of the platforms which LCG uses. To check out the typical spread in LCG Standard account see the table below, for instance, you can also compare fees of another popular broker XTB.
|Asset/ Pair||LCG Spread – Standard|
|Crude Oil WTI||3|
Being the UK and Cyprus brokerage firm the company complies to the set of rules established and concluded by the European regulatory body ESMA. As the requirements are set to ever single step and process the brokerage delivers, the authority also mandates which levels are safe and allowed to offer.
Therefore, a recent update set a maximum leverage level of 1:30 for major Forex currency pairs, 1:20 for minor ones and 1:10 for Commodities, etc. In this means, this is the maximum leverage you, as a trader, may obtain while trading with LCG review, nevertheless make sure to learn how to use the tool smartly, in order not to fall into an unlikely event of losing your funds rapidly.
Deposits and Withdrawals
LCG typically processing payment in a short time from 1 working day, while offering several payment methods to the trader’s convenience. Yet, investors should be aware of differences between the methods according to the account they open with, either the UK or Cyprus one.
The clients regulated under CySec are able to use either bank transfers or Visa/ MasterCards, which as well will include an additional 2% commission for credit cards deposits. The clients under the FCA may use bank transfers and cards as well, with additional options of Skrill and Neteller, which apply 0$ fee for transactions.
LCG also does not have a minimum deposit requirement for the opening of a trading account, the client deposits should have enough funds to cover the margin costs for the markets you are trading, which is definitely a great advantage for beginning traders or even seasoned ones too.
As a regulated broker by major authorities including reputable FCA and CySEC, the LCG review performance and reliability bring a safe trading environment and convenient conditions.
A general company offering through the diverse range of trading product, the choice between the proprietary platform and the comfortable MT4 covers demands of any trader with a different experience. In addition, there is an option to trade through ECN account, which features much lower spreads and brings another, higher level of trading experience.
However, the minimum account balance required for the ECN account is quite high which is good for the traders of bigger size only. In conclusion, the broker might be a good option for the traders of various levels since there are various options to choose from.
- May 05, 2018 at 10:38 AM Read more