London Capital Group Limited (LCG) is a financial company based in England. LCG is a subsidiary of London Capital Group Holdings plc (LCGH plc), which is regulated by the Financial Conduct Authority (FCA).
Clients can trade with MetaTrader 4 (MT4), one of the best known on widely used trading platforms worldwide. MT4 provides powerful charting options, a lot of technical indicators, automated trade with expert advisors and managing multiple accounts. MT4 can be downloaded as a desktop version as well as mobile application for iOS and Android devices. The broker also has a web trading platform based on the popular cTrader and called LCG Trader. It has a customizable interface, full site of technical indicators, advanced charting and the possibility of trading all assets classes. There are 7 assets classes available for trading including currency pairs, shares, commodities and indices.
LCG offers three types of accounts available for use on both platforms:
- Normal account doesn’t require a minimum deposit sum and gives access to all classes of instruments, market analysis and research and educational materials. Here the maximum leverage for forex is 1:500 and the minimum trade size is 0.01 lot;
- Islamic accounts (swap-free) could be opened by an email request;
- There is a possibility for opening an ECN account if the customer is ready to invest at least USD10,000. ECN service is intended for large traded volumes and offers spreads near zero for major currency pairs and wide liquidity but there is a commission for every deal (USD45 per USD1,000,000 traded on LCG Trader and USD10 per lot on MT4). The maximum leverage is 1:200 applicable for forex.
Higher leverage increases the risk of loss. However, there is negative balance protection and clients cannot lose more money than they have in their account. This broker closes all positions when ‘the overall equity becomes less than the total margin requirement.’
LCG’s order execution policy shows existence of slippage and orders can be executed either at close to the requested price, or at the first available market price. In some circumstances (market volatility) orders can be rejected. There are also guaranteed stop orders, which are always executed at the set price. They are available on certain markets and clients pay premium ether through wider than normal spreads, or direct cash debit on their account.
Although LCG serves as an ECN/STP broker for its ECN accounts, the company is a counterparty to all client’s deals in other kinds of accounts and acts as a market maker, which could lead to potential conflicts of interests with customers. Customers should know there is a monthly fee of USD20 for inactive accounts. LCG assumes an account as inactive if there are no deals for 180 days. Websites provides a trading tools section containing analysis, videos, economic calendar and glossary.