Is London Capital Group a Scam

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LCG – London Capital Group Reviews

15 • Poor

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Reviews 15

I got so unlucky trading with them but…

I got so unlucky trading with them but was still lucky enough to meet an expert(address above) who helped me recover my funds back 100%.

I can’t explain how it feels to be a…

I can’t explain how it feels to be a victim of scam brokers but with the help of Mrs Sofia Williams I got all my lost funds back. Click on my profile for her email address

Being a victim of scam brokers was…

Being a victim of scam brokers was painful experience for me until I met Mrs Sofia Williams who helped me in recovering back all my lost funds. Click on my profile for her email address

Do not deal with this company

This company has called me three times now trying to sign me up. Even though they called me they were extremely rude during the phone call when I asked the name of their company and where they are based out of. They did not really seem to be able to provide me with a straight answer (huge red flag for me).
One person said it was about crypto currency, another said it was share trading. Each time I asked to be taken off the list and not called, simply got a response I should not have signed up to be called. When I asked where and when I signed up, they couldn’t tell me.

Cryptocurrency recovery

Do not totally believe everything you hear or say, I fell a victim, I invested some money all on my own with the believe that account managers today are scam and most of all the broker I would have used I deviated to using IQ option only to be scammed I was devastated but I still took the blame, well am past all those now I have a trusted and reliable account manager who has experience and have been so kind to always help me with my trading and transaction, he also helped me recovery some of my lost funds of course not everything also I recommend olmpy trade. Need advice and help you can trust again email:[email protected] .Com

That company is strongly suspected to…

That company is strongly suspected to have a blacklist of people in order to impede them to open an account.
This is illegal, discriminatory and abusive.
For example, that company refused to open an account to a clean trader who refused to provide personal data from his passport.
Processes of that company are absolutely delirious and must be sentenced by a court.
Several complaints will be lodged soon.
Here is the kind of hallucinatory email that company dares to send to people blacklisted with no reason:
“Thank you for your email. As we wrote in our previous email we cannot onboard you anymore as you are blacklisted by our Compliance department.”

Hey fellow traders,

Hey fellow traders,

I was looking for a uk spread bet broker that’s offers the Ctrader platform, which I like. Hey presto, LCG.

Their ratings on here aren’t great and they are a bit shaky financially but I gave them the benefit of the doubt so I opened an account.

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Luckily, the problems started early, when I tried to make a deposit. I selected the deposit option and was presented with three options (Bank transfer, taking 5 days if you are lucky), and two third party wallets.

I selected one of the wallets, and then realised I needed to have an account with them, and was a bit concerned that there was no mention of the fees for the deposit. So I backed out, and clicked on cancel.

Hey presto, the option to pay by debit/credit card then popped up (not previously there). Seem a bit dodgy? Perhaps just a bug in the software but too much for me, so I closed the account. Can’t take any chances in the Forex World.

Avoid.

cold called me. Claimed to be Interactive Investor. And then used my name, number and email to sign me up to all sorts of things. They clearly have no problem in hiring sociopaths. No-one deserves this. Avoid.

Bad customer service stay clear

They are not reliable in returning your money

They are not reliable in returning your money and it is a disgrace the way they charge you every night for your bets. Stay clear of this company. Very bad spreads and lousy online platform for iPad

THIS COMPANY ARE THIEVES

THIS COMPANY ARE THIEVES – they steal your money and will not give it back!! I was running a trade at the end of July but wanted to close it on the Friday evening (27th July 2020) as I knew that I was not going to be able to get internet access or phone signal for a few days and would be unable to monitor the trade. I was unable to close the trade on the platform itself, so I called LCG on the number on their website – there was no answer – I tried for approx. 10mins while my trade was running against my wish, so I then emailed them requesting they close my trade at a certain price – this did not happen – they let the trade run, it went into a reasonable profit around 6am on the following Monday morning (30th July 2020) after being locked in all weekend and incurring charges that should not had been incurred if I had been allowed to close my trade on the Friday previous as I wanted, (they did not close the trade here with me in profit) it then turned around and subsequently went against me, (I found this out when I was able to get internet access again) when you get to a point of 50% margin their system is set to cut the trade size and of course takes a sizeable share of your bank, this goes on and on until in my case they cleaned my bank out. I had left the trade running as I could not get internet access due to the nature and geography of my job and I knew this was going to be the case on the 27th July, that’s why I had tried to contact them. (LCG also knew this as I had explained to them on the phone when I was finally able to speak with someone there) I wanted the trade closed at the price I had requested on the 27th July., which would have been break-even. I emailed several times while the trade was running to ask why my trade was not closed at my request on the previous Friday night, and received not even one reply let alone an acceptable explanation as to why this happened – how ignorant. Two weeks later, once all my bank had been demolished I eventually spoke to an account manager who told me they do not act on emails and that I should have called in, after, as it turned out pretending to listen to my complaint – but from subsequent communication, I see he did not listen at all just putting across his point of being in the right. So first I can not close the trade on their platform, then I call them and there is no answer so I email several times with no response, then they call me and tell me that I should have called – rock and hard place spring to mind -as far as this company is concerned it is not the client that is always right, it is LCG that are always right – they do not want to even offer anything in the way of a good will gesture as there is no goodwill about them, let alone do the right thing and return my bank to the figure of 27th July 2020 – even though it was their error, but it was or course in their favour. I am sure if they had paid me a large profit in error they would soon have reclaimed it without hesitation!! consequently I have not traded with them since and I am still trying to get my refund of that trade – they are not wanting to keep clients – well they don’t need to as they manipulate the platform and steal clients funds. They take over two weeks to respond to email and yes some can come across as rude – not how you would expect if they were a reputable professional company.
There are plenty of fair trading stock brokers out there and some have not been affected by the new ESMA rules either, although I am trading with a broker that I have traded with for many a year and they have imposed the new ESMA rules, but I am finding it quite advantageous – personal choice of course – In the last 2 months, I have steered 15 prospective traders away from LCG – small fry to them I know, but it all adds up to how much they can steal. No doubt the FCA will take the side of LCG as I and a friend have had dealings with the FCA and a large financial institution before, the FCA just listened to and supported the financial institution – they are not there to help the individual member of the public that has been scammed by one of these companies – they are there to support these thieves!! Neither LCG or the FCA are very quick to respond to any kind of communication – nor it seems, are LCG quick to answer phone calls, while all the time the stock prices are moving. They cant even get the facts of my complaint right! You definitely CAN NOT trust LCG – they are rogues, they will one day get their comeuppance. The call themselves LONDON Capital Group, but they have a registered address in Cyprus – no doubt to avoid taxes!! I have sought legal advise and have been advised that I could have a case for compensation against LCG.
I wanted to give them minus stars but obv this site minimum rating is one star. :(

London Capital Group Review

London Capital Group (LCG) recently celebrated 20 years of trading, with the company having overseen more than $1 billion in deposits and over $20 trillion in executed volume over the last two decades.

LCG’s in house platform, LCG Trader, is a web-based trading platform designed to handle thousands of assets at once, enabling traders to access 7,000+ instruments across 9 available asset classes directly from their web browser. LCG Trader also allows users to trade any asset offered by LCG, including forex, shares, indices, spot metals, futures, bonds and interest rates across a range of devices.

Based in London, UK, LCG’s parent company London Capital Group Holdings plc is listed on the NEX Exchange, while LCG is also authorised and regulated in the UK by the Financial Conduct Authority (FCA).

  • Segregates client funds
  • Established in 1996
  • Regulated by Financial Conduct Authority, CIMA, CYSEC
  • Min. deposit from €0
  • Doesn’t offer VPS (See alternatives)
  • Limited range of instruments
  • Not ASIC Regulated (See alternatives)

To open a live account, you’ll need a minimum deposit of at least €0. Alternatively, London Capital Group offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 182110), and CySEC (Licence: 341/17). London Capital Group puts all client funds in a segregated bank account and uses tier-1 banks for this. London Capital Group has been established since 1996, and have a head office in UK.

Before we dive into some of the more detailed aspects of London Capital Group’s spreads, fees, platforms and trading features, you may want to open London Capital Group’s website in a new tab by clicking the button below in order to see the latest information directly from London Capital Group.

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

79% of retail investor accounts lose money when trading CFDs with this provider

What are London Capital Group’s spreads & fees?

Like most brokers, London Capital Group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on London Capital Group’s website. The colour bars show how competitive London Capital Group’s spreads are in comparison to other popular brokers featured on BrokerNotes.

London Capital Group
EUR/USD (Average: 0.7 pips) 0.75 pips + $1.00 0.7 pips 0.9 pips
GBP/USD (Average: 1.1 pips) 1.2 pips + $1.00 1.7 pips 1.6 pips
USD/JPY (Average: 1.1 pips) 0.85 pips + $1.00 0.6 pips 1.1 pips
AUD/USD (Average: 0.8 pips) 0.8 pips + $1.00 0.6 pips 1.1 pips
USD/CHF (Average: 2.3 pips) 1.9 pips + $1.00 2.3 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 1.2 pips + $1.00 0.5 pips 2.0 pips
NZD/USD (Average: 3.6 pips) 1.8 pips + $1.00 2.8 pips 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.1 pips + $1.00 0.5 pips 1.5 pips

Spreads are dynamic and are for informational purposes only.

As you can see, London Capital Group’s minimum spread for trading EUR/USD is 0.75 pips – which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with London Capital Group vs. similar brokers.

How much does London Capital Group charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with London Capital Group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $11.01. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

London Capital Group XTB AvaTrade
Spread from : $ 3.00 $ 2.00 $ 7.00
Commission : $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 3.00 $ 2.00 $ 7.00
$1 less $4 more
Visit LCG Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

What can you trade with London Capital Group?

London Capital Group offers over 117 different instruments to trade, including over 66 currency pairs. We’ve summarised all of the different types of instruments offered by London Capital Group below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies LCG XTB AvaTrade
# of forex pairs offered 66 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs London Capital Group XTB AvaTrade
# of commodities offered 10 21 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs London Capital Group XTB AvaTrade
# of stocks offered 1606 99
UK shares Yes Yes Yes
US shares Yes Yes Yes
German shares Yes Yes Yes
Japanese shares Yes Yes Yes
See LCG’s Instruments See XTB’s Instruments See AvaTrade’s Instruments

What’s the London Capital Group trading experience like?

1) Platforms and apps

London Capital Group offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. London Capital Group also offer their custom LCG Trader platform.

London Capital Group also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

Still not sure?

2) Executing Trades

London Capital Group allows you to execute a minimum trade of £0.50. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As London Capital Group offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As a market maker, London Capital Group may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, London Capital Group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

London Capital Group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by London Capital Group here.

Finally, we’ve listed some of the popular funding methods that London Capital Group offers its traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Accounts offered:

  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Skrill
  • Payoneer
  • Neteller

3) Client support

London Capital Group support a wide range of languages including English, Russian, Malaysian, Korean, Swedish, German, French, Indonesian, Turkish, Norwegian, Chinese, Italian, Arabic, Portuguese, Spanish, Polish, Thai, and Vietnamese.

London Capital Group has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with London Capital Group

As London Capital Group is regulated by Financial Conduct Authority, CIMA, CYSEC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore London Capital Group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with London Capital Group you can visit their website here.

How to trade with LCG

LCG’s proprietary Trader Platform software is widely regarded as a leading example of contemporary trading technology, having received multiple industry awards. The full web-based trading platform and native Android and iOS mobile apps allow for full-functionality trading from almost any internet connected device a trader has access to, wherever they may be.

LCG Trader’s customisable functionality is a particularly unique and valuable feature, allowing traders to layout their trading station in the way that provides them with optimal usability and convenience.

Navigating around the platform is intuitive with the menus and functionality easily accessible in-trade. To the top is the main toolbar, split between the left and right of the screen. On the left new charts and orders can be opened, chart mode changed, analytical tools accessed and chart and platform preferences altered.

On the right is the quick trade settings, platform language and platform layout options. The platform timezone is changed to the bottom right. Within the charts is a deep reservoir of information including market price, volume, open, close, high and low, which the trader can modify. Chart data is displayed at the bottom left of the platform when the market snapshot tool is not activated.

The chart menu toolbar is situated to the middle of the top of the trading platform screen. From here changes can be made to the chart such as adding indicators, saving templates, chart preferences, time frames. Most importantly, if “quick trade” mode is enabled in the preferences, trades can be placed directly “in-chart” with a single or double click from the quote buttons located to the centre.

Account deposits can also be made directly from the trading interface without the trader having to go into the “My LCG” area.

Opening a New Trade on the LCG Trader Platform

Clicking “create new order” from the quick trade quotes seen to the left opens a new deal ticket from which a market order can be executed, specifying a buy or sell at the best available price for that size. Guaranteed stop losses can also be placed at or beyond the minimum distance requirement for that instrument. The guaranteed stop loss spread charge also varies between instruments.

Right-click Functionality

An extensive set of functionalities are accessible on the LCG Trader platform via a right click. By right-clicking over a chart the trader can quickly trade, create new orders, add technical indicators, add graphical objects and set price alerts. Charts can also be customised via the right-click menu.

Mobile App

The LCG Trader mobile app retains almost the entire functionality of the browser-based desktop version including the full charting package, one-tap trading and high-speed execution. Building a watchlist of most traded instruments on the mobile app is the first recommended step, giving convenient mobile access.

Once a watchlist has been built an order ticket can be launched by tapping on the instrument to be traded, which will bring up a quick deal ticket. The stake size is then selected and a buy or sell order given and stop loss set if required.

The full charting package functionalities are accessible from the full-screen mode of the chart.

What education & analysis resources do LCG provide?

LCG’s analysis and education resources are a particular strong suite of the broker, which was recognised as “Best Forex Fundamental Analysis Provider 2020” at the UK Forex Awards. Daily and weekly fundamental and technical analysis video materials are available to all traders.
An extensive range of analysis tools and educational tutorials, on a wide range of fundamental and technical analysis principles, are also provided to help traders put the resources available to them to best use. Free webinars are also a central feature of the platform’s analysis and education section.

  • Written by Marcus Taylor
  • Founder & CEO

Marcus founded BrokerNotes in 2020 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about BrokerNotes & Marcus here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.LCG.com on 01/04/2020.

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