Information about the company
London Capital Group began as a bank holding company in 1996. But a few years later it had ambitions to take the lead in the internet brokerage market. Today, the organization became one of the UK’s most experienced online brokers, enjoying a positive reputation among stakeholders and customers, providing Its clients access to over 7,000 global markets and 9 asset classes. Forex, Stocks, Products, Bonds, Vanilla options, Interest rates, ETFs, Indices, and Cryptocurrencies are available depending on the user’s account.
The organization also offers a demo version for beginners, which is completely free and has no difference from the real account. Users will have access to the same features of trading to gain skills,
- LCG Trader is a multi-asset trading platform that caters to ECN traders. It is built and modified for the demands of professional traders, providing 5,000 different instruments from 7 different asset classes, a Custom chart package, and valuable features
- MT4, is well-known for its strong dependability and performance, widely used in a brokerage firms. Even though MT4 is one of the greatest platforms available, we frequently see delayed executions and a restricted number of markets.
Both options are available as mobile applications too, which are compatible with iOS and Android.
Spreads and commissions
LCG is a broker that offers both ECN and STP services. They serve as a conduit between you, your orders, and the liquidity providers. One of the key reasons for cheap commissions and competitive spreads is this. Pip spreads for major currencies range from 0.8 (EURGBP) to 1.6 (GBPJPY) when trading Forex, with an average of 1.45 pips for EURUSD.
Based on whatever platform you use and whose profile you have, fees may differ. LCG prefers clients who use the branded cTrader platform, charging twice as much as clients who use the MT4 platform.
Most major currency pairs have a maximum leverage of 1:500. (1:200 for EURCHF and USDCHF). Leverage on Forex minors ranges from 1:50 to 1:200. Commodities can be traded at a ratio of 1:100, whereas indices and stocks can be traded at a ratio of 1:40. Leverage is limited to 1:30 for Forex and lowers for more volatile products for EU traders (eg 1:2 for Crypto).
LCG is highly flexible, accepting various secure deposit methods:
- Bank transfers free of charge
- Electronic wallets such as Skrill and Neteller
- Almost all major credit and debit cards (2% fee on deposits)
- Withdrawal of funds without commission, which is a big plus.
The FCA in the United Kingdom and CySec in Cyprus both regulate London Capital Group Ltd. This level of regulation guarantees that ESMA rules are followed since it limits leverage, protects against negative balances and strengthens Know Your Customer protocols. For some traders, this level of protection is oppressive and unnecessary; in that case, the trader might apply for “Professional” status. This necessitates the presentation of evidence of trading experience and capital.