LCG
What is LCG?
LCG stands for London Capital Group, a financial services company founded in 1996.
An online forex broker, LCG’s trading platforms include MetaTrader 4, a web-based cTrader platform and a mobile platform. Non-US traders can access CFDs and spread betting instruments.
It is free to open a standard account.
The company provides an ECN account (electronic communications network) for trading directly with forex providers like banks. For these accounts, there is a minimum deposit of $10,000.
LCG Analysis and Education
With a reputation for being a useful broker for beginners, LCG has a wide range of educational and analytical resources for traders.
Clients can access the latest market news and a digest of the latest corporate and macro-economic events which drive the financial markets. In addition, the company’s research team provide analysis videos on topics like shares, indices, forex and commodities.
Learners can view trading videos to understand basic trading concepts and develop their trading strategies. A glossary provides an A-Z of currency terms and jargon.
Lastly, LCG provides webinars and support guides for traders to develop their knowledge of the financial markets.
Spreads, Leverage and Commissions at LCG
It is easy to compare LCG’s costs in different regions. Their website has a section with tables showing spreads, leverage and commissions so that traders can calculate their costs.
Leverage varies according to the jurisdiction. In the UK and Europe, the maximum leverage on forex is 30:1 whereas in the Bahamas, it is 500:1. The leverage offered in the Bahamas on bonds and interest rates is particularly high at 1000:1.
Spreads on forex range from 0.2 percent in the UK and Europe to 0.8 percent in the Bahamas. This differs from the spreads on indices, which range from 0.09 percent to 0.2 percent. The spreads on shares varies from 0.08 percent for the UK/Europe and 0.1 percent in the Bahamas. Commodities carry a spread of 0.6 percent in all jurisdictions.
What can I Trade on LCG?
There is a wide range of instruments and asset classes offered on LCG, from forex to bonds.
Features
Forex Trading – Yes
CFDs – Yes
Forex Pairs – Majors, Minors, Exotics
Physical crypto currencies – No
CFD cryptos – No
Copy Trading – No
LCG Account Types
LCG has three main account types: Islamic account, ECN account, and CFD trading account.
Forex Islamic accounts are swap-free because they have no rollover interest on overnight positions. Instead, there is a $3 holding charge per lot on overnight trades.
The ECN accounts have spreads starting from zero pips and no requotes along with quick access to market makers like banks. Traders must maintain a balance of $10,000 to qualify for ECN access and enjoy complete anonymity while having transparent access to forex providers.
For forex day traders, the CFD account provides trading across forex, shares, indices, spot metals, futures, bonds and interest rates. Traders can choose from LCG Trader, a platform developed by the company, or MT4, which features price improvement technologies and superior execution developed by LCG.
Is LCG safe?
LCG is widely considered to be a safe broker in the sense that it is one of the oldest and most established spread betting companies and continually invests in upgrading its trading software and technologies. Forexblogonline blogs about forex brokers online, forex trading strategies and the best foreign exchange trading tools. It is the go-to destination for traders of all experience levels, from beginners to advanced forex traders.
