LCG (London Capital Group) Review 2024: Pros and Cons

This Trading Platform is available in Ukraine

1.9/5

LCG Trader started in 1996. LCG Trader wants to give good services and keep trading affordable to its clients. You only need $10 to open an account. They help beginner traders with training and learning materials. If you're Muslim, they have swap-free accounts. LCG mainly works with active traders, so no passive income programs or contests. But, be aware they can't work with people from certain countries like Australia, Canada, and the USA.

Min. deposit

100 GBP

Website address

https://www.lcg.com/int/

Demo account

Yes

Currency

EURGBPUSD

Supported languages

AraChiEngFraItaPolRusSpaVie

Active

Yes

Payment Methods

Bank WireCredit/Debit cardsNetellerSkrill

Pros

Low minimum deposit requirements.
They have many trading instruments.
It offers Islamic accounts.

Cons

The broker does not accept clients from certain countries.
Support for customers is closed on weekends.

Awards

Best Mobile/Tablet Trading Application 2016 - Shares Awards, Best Forex Trading Platform 2018 - UK Forex Awards

Bonus

None

Instruments

BondsCommoditiesForexIndicesInterest RatesSpot metalsStocksVanilla Options

Min. trade price

Depends on the instrument

Regulated By

FCA (UK)

MetaTrader 4

Yes

MetaTrader 5

cTrader

OmniTrader

AlgoTrader

TradingView

Trading Central

Yes

Autochartist

eSignal

STP Account

ECN Account

DMA Account

MAM Account

Yes

PAMM Account

LAMM Account

Demat Account

Mobile Apps

Yes, for iOS and Android

Margin Trading

Yes

Volatility Index

Spot Trading

Yes

Perpetual Swaps

ELWs

REITs

AI / Machine Learning

Robo Advisor

P2P Trading

Negative Balance Protection

Yes

VPS Hosting

Tournaments

Demo Competitions

Managed Accounts

Market Maker

Yes

Auto Trading

Social Trading

Copy Trading

Trade Signals

Islamic Account

Inactivity Fee

Yes, after 12 months of inactivity

Guaranteed Stop Loss

Stock Exchanges

Access to global stock exchanges

Commodities

Gold, Silver, Oil, and others

Forex Trading

Yes

Forex GBPUSD Spread

Variable, from 1 pip

Forex EURUSD Spread

Variable, from 0.6 pips

Forex EURGBP Spread

Variable, from 1 pip

Forex Assets

Over 60 currency pairs

Crypto Spread

Variable

Crypto Lending

Crypto Staking

Crypto Mining

Crypto Auto Market Maker

Crypto Coins

Bitcoin, Ethereum, Litecoin, Ripple

Binary Options

Payout Percent

N/A

Expiry Times

N/A

Ladder Options

Boundary Options

Show all >>

* The amount that will be credited to the account in the case of a successful deal

* General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

The Trustpilot rating is 1.9,
according to 86 reviews

R W

I was concerned that I may have trouble getting my money back, but I need not have worried. I had their phone number, called them and received my money the next day, no issues .

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Jules

I deleted my recent one Star review, as I think it's only fair based on my experiences of 5 years and then the last few days when various situations were rectified. LCG warned us weeks ago that they were going to an introducer role and asking everyone to move to IG, which I have done. I had had problems last week accessing my account and moving my fund, with some rather poor comms initially from LCG around the system outage. Well, that is all fixed now and I have been in contact with them directly via email and everything was sorted quickly. Funds received back and now transferred over to IG with minimal delay. After 5 years of the LCG trading platform, I am not enjoying the IG platform that much. LCG's was much slicker and better integrated, with the "one view" of positions and chart on a nice big screen really great for assessing your overall positions. No doubt IG is customisable (hopefully) and with time, I'll get used to it, but the LCG trade window was "the best" with easy setup. Thanks to Damian over the years and Cian specifically for the last few days for sorting things.

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Laurence peters

Please please give me an answer? for well over a year now i have been contacting the Bahamas office as the instant debit card and credit card facility has been withdrawn!! i cant believe that in the 21st century i have to send a bank transfer that takes 4 days to credit my account! and never get a reply as to why LCG are running their business in such an unprofessional way? Come on guys the markets move very quickly and all your clients will be stopped out! then there will be no business and no wages! The only way to trade with no sleepless nights is to keep enough margin money on the account- which i do, but saying that the majority of customers havent got enough capital behind them to do this, Today i switched on my computer to find no trading platform! please guys get your act together or close down the Bahamas office and call it a day

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Me My last name

Have never had an issue with them as long as you do what you should to show you are legitimate. They have rung me on numerous occasions to see how I am doing and if I have any question, something my bank has not done in forty years! I’ve made a nice bit of tax free money on this platform and hope to continue.

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Paul C

I have read the 1* and 2* reviews here and I am a little surprised. Yes, withdrawing for the first time from LCG UK can be a pain. They need your bank details - a bank statement, and photo of the front of a debit card. And yes, customer services do not contact you if there is a problem. But I have been using them since they were Capital Spreads (10+ years ago) and I have found their Order Fills and Dealing Desk personnel (Bahamas and UK) to be efficient and fair. On the odd ocassion that there has been an issue it has been resolved, albeit slowly. You may ask why do they have UK and Bahamas companies? It is all down to the ESMA rules which dictate that for an FCA regulated Spread Betting/CFD company you need to deposit £1800 to bet just £1/point on the DOW (!). In the Bahamas it is £180 to bet £1/point. This off-shoring, which has CGT Tax implications for us brits, is not what the Spread Betting companies wanted but they felt forced into it as only well-heeled Clients can afford to bet £10/point on a UK-based provider. These ESMA rules. in my opinion, have created more problems than they have solved. I only hope that post-Brexit the UK Government relax them somewhat, especially around Margin. So yes, LCG Customer Service gets 3 out of 10.- but they are not scamming, they are just understaffed or have bad processes But the Trades themselves and the Dealing Desk get 9 out of 10 from me.

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Yana Rabago

I have been talking to Damian, one of your employees. He was very helpful and polite. Daniel helped me with my documents and was very patient with me. Thank you. Yana Rabago.

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Jinia Shawdagor Author
Hannah Jones Editor
5 min read
Updated: December 22, 2022
Views: 496

Content

What to expect with LCG
History and overview of LCG
Customer Service

After all, as trading experts say, “Trading is a numbers game. And with any numbers game, a long-term view is needed.” This is where LCG comes into play. I started working on LCG quite recently, even though this broker has been around for decades. I was drawn in by LCG’s impressive array of instruments available – an astounding 7,000.

Founded in 1996, London Capital Group gives traders access to the London Stock Exchange and numerous other global financial markets. Throughout its over 20 years of operation, LCG has established itself as one of the leading brokers offering their clients a wide range of trading platforms, tools and services.

The company is regulated by the Financial Conduct Authority (FCA) in the UK and provides products such as CFDs, forex, spread betting, shares, indices & commodities. LCG also offers advanced technology and tools, such as mobile trading apps, autochartist, and expert advisors.

When it comes to customer feedback, the majority of traders are satisfied with the services offered by LCG. Their website is user-friendly, and the platform has a plethora of tools that should be in the toolbox of any serious forex trader. You can easily trade and monitor your positions in real-time.

I used their customer service, and I found their staff to be knowledgeable and helpful despite the few complaints from some users online. For instance, a user complained that “money had not been credited to their account for a week”.

This can be alarming, especially if you are just starting out with the broker. The withdrawal periods can make or break a broker’s reputation. Fortunately, this is the only common withdrawal complaint.

What to expect with LCG

LCG offers competitive trading conditions, and its products have helped me make over $50,000 in profits from trading in the past year alone.

While there are some complaints online from some users, most of my friends who are traders are also quite familiar with LCG, and I’ve heard good reviews from them too.

Since I’ve been using LCG, I’ve been impressed by their low spreads, fast execution, and excellent customer service. The easy-to-use site has helped me build up a portfolio of profitable investments.

Their minimum deposit is only $10; however, LCG is geared towards active traders. There are no incentives and perks for passive income generation schemes or bonus programs. Moreover, some countries are not supported by LCG. Such countries include the following:

Belgium
Singapore
Canada
New Zealand
USA

In this review, we will take a look at LCG, the services they offer and their customer ratings. We will also explore their trading platforms and tools to help you decide whether this broker is right for your needs. So let’s get started!

History and overview of LCG

LCG (London Capital Group) is a financial services company with a dynamic leverage of up to 1:500.

The company initially provided capital introduction services to institutional investors before moving into the retail market, offering traders access to global financial markets.

One drawback of LCG is that it doesn’t offer crypto or PMM (Percentage allocation Management Module). With a PMM trading account, traders can designate their money to fund managers who will trade pools of funds from traders and investors for profit.

If you love to work with MT4 traders, you’ll be pleased to hear that they support MT4 Web through their desktop version. Furthermore, the mobile application of LCG also features support for LCG and MT4 terminals, thus giving you the convenience of working on any device.

LCG offers an ECN account, which has a minimum deposit of $10,000. In addition, it boasts low-margin requirements and offers competitive spreads. Other accounts on LCG include Islamic Accounts and CFD trading accounts.

Customer Service

LCG prides itself in top-notch customer service. Their knowledgeable staff are always willing to help and are usually available to answer your questions.

LCG’s website also offers wide range of educational resources that help traders stay informed about the markets.

Customer Ratings

LCG has an overall satisfaction rating of 4.5 out of 5 stars on Trust Union and other rating sites, with over 2000 reviews from customers! Most customers are highly satisfied with their services, praising their responsive customer support and low spreads.

Expert Opinion

According to expert opinion, “70% of retail investors’ accounts lose money when trading CFDs with LCG”. While this might sound alarming, novice traders should be careful of using leverage in their trade. Trading CFDs requires expert knowledge of the dynamic price swings of assets in the market.

Trustpilot Real Time Reviews

What to expect with LCG

History and overview of LCG

Customer Service

Customer Ratings

Expert Opinion

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