London Capital Group (LCG) - Review and Comments
General Overview for London Capital Group (LCG)
The London Capital Group (LCG) is a broker and a provider of mostly web-based trading products for retail investors, private investors and also for professional clients. The company is a subsidiary of London Capital Group Holdings Plc (LCGH Plc), that is listed on the London Stock Exchange. The range of products goes from online trading services for Contracts for Difference (CFDs) to Foreign Exchange Trading (Forex) and ETFs for retail investors. This broker is regulated by the FCA in the UK (Financial Conduct Authority) and can be found on the database under the registration number: 182110. The management team and the brokerage firm have over 20 years of experience with the financial markets and are therefore a solid partner for new and professional traders. The London Capital Group (LCG) counts on a group of top industry analysts and due to the listing at the London Stock Exchange, they have to uphold to high standards and deliver a quality service to their customer base.
Trading Platform and Software Review of London Capital Group (LCG)
Traders always look for a trading platform that offers flexibility, is easy to use and with special features in terms of customization. LCG has two options on the table. There is the web based trading platform, that is proprietary to LCG and there is the very popular MetaTrader 4 platform, that can be downloaded and installed on a local computer. This is good news for traders, as this gives access to a big list of custom indicators, technical analysis tools and even automated trading software. Not every broker has this flexibility, but LCG has really put some thought into it and this shows, that they know their clients. The proprietary platform is called LCG Trader and has a wide breadth of customizable options. This trading software comes with a pretty good charting package and many tools to help with analysing the markets. So called one-click-trades are possible and also the use of trailing stops, hedging and scalping methods. There is also the possibility to open a full ECN and STP account, which gives traders access to almost institutional trading levels.
Almost no broker can afford nowadays not to offer mobile trading platforms. This is also part of the LCG trading deal. Traders can access all their open positions and full functionality, through one mobile trading platform for the Apple iOS operating system and another for Android users. Traders can download both apps from the corresponding online shops and start trading and monitoring trades from within their Smartphones. These apps can be installed on the iPhone, iPad, Apple Watch, Android Phones, Tablets and even on a Windows Phone.
Spreads, Transaction Costs and Margins for London Capital Group (LCG)
One important aspect of trading is the spread. Especially for traders that are very active, are day traders or like to scalp (very short term trading). The good news is, that LCG – London Capital Group has one of the lowest spreads among the retail brokers. This is partly due to access to the big liquidity providers. Being listed on the Stock Exchange and a good network of partners contributes to this aspect.
The Pip spread for the majors is about 0,6 pips and for the GBP/USD pair even going as low as 0,2 pips per trade. The ECN platform offers very tight spreads, depending on trading hours and the financial instrument. LCG offers a wide variety of trading instruments with different levels of leverage. As of this writing, there is access to 60 currency pairs, 12 indices and 15 commodities. The execution is fast and top notch. There is always the possibility of widening spreads or slippage during intensive trading moments (news announcements, etc.), but that is a known fact, that also applies to other brokerage firms. There are different levels of allowed leverage. For Forex the limit is 300:1, Indices vary between 100 to 40:1 and Commodities have a leverage limit of 100 to 50:1. These are pretty standard and allow for a good variety of trading styles and risk appetites.
Deposit and Withdrawal Information for London Capital Group (LCG)
As with many brokers, there are different ways to deposit and withdraw your money. There is the traditional bank wire transfer and funding by credit card. It is worth to mention, that LCG also accepts the very popular Skrill debit card (former Moneybookers). This gives traders in many parts of the world access to trading, which would otherwise be difficult. The options are there and withdrawal is quick and goes smoothly. As always, traders have to send proof of identity and submit the corresponding documents (government ID and utility bill). The process takes less than 48 hours and should be of no concern.
Special Features of London Capital Group (LCG)
Among the special features are a wide array of additional services, that LCG offers around trading and investing. One of the more interesting features, is the possibility to receive free trading signals. One very important aspect, is the possibility to open an account with zero minimum deposit. Traders can choose between a standard trading account and a premium trading account. The former offers access to a daily market analysis, dedicated attention from a personal account manager. To open a premium account a minimum deposit of 25.000 British Pounds is required. The standard trading account only requires the bare minimum to keep the trades open, without risking a margin call. This is another great feature, that means great flexibility and peace of mind.
Final Observations and Comments about London Capital Group (LCG)
LCG is among our favourite broker firms, because of the flexibility and the fast customer support. This is something to consider, as there will be times, where you will need access to customer support almost 24x7. Another great aspect, is the security that London Capital Group (LCG) will give you. Being listed at one of the worlds most important Stock Exchanges gives this broker a high level of trust and transparency. The accounting and audit rules are strong and give traders the necessary tranquillity. Funds are secured and protected by the strong financial laws of the UK.