London Capital Group Review
Alyaziah Hayat | March 27, 2022
Table of Contents
London Capital Group (LCG) is an online Forex and CFD broker that offers over 7,000+ trading instruments via the MT4 & LCG platforms. They provide market research, trading tools and indepth analysis, but their fees are not the cheapest when compared to other online brokers.
Broker Pros / Cons
- Strict regulation from 3 jurisdictions
- Technical analysis courtesy of ‘Trading Central’
- State-of-the art platforms loaded with trading & analytical tools
- Over 7,000+ tradable assets
- No fixed spread accounts
- ECN trading is limited to traders with $10k+ capital
- Traders from Australia, Belgium, Canada, New Zealand, Singapore & United States are not allowed to register for LCG services
- Not the cheapest commissions/fees
Established in 1996, London Capital Group (LCG) is an experienced online trading brokerage. The LCG headquarters is in London but they have offices in Cyprus and the Bahamas.
The brand provides access to trade over 7,000 forex and CFD instruments via its online trading platforms. The broker currently boasts of $1 billion in clients’ deposits and claims to have executed over $20 trillion worth of trades.
London Capital Group is an STP/ECN broker that offers competitive spreads and execution speeds. The brand offers two sophisticated platforms; LCG Trader platform and the ever popular MetaTrader 4 (MT4) platform.
LCG has won over 12 online broker awards. These include ‘the forex innovator of the year’ which was given at the 2015 UK Forex awards. Other awards are in the areas of spread betting, trading platforms and comprehensive provision of fundamental analysis.
LCG Capital Markets Limited (LCG BHS) is a company registered in the Commonwealth of the Bahamas with the reg. No: 200271B. It is authorised and regulated by the Securities Commission of Bahamas (SCB) with License No: SIA-F194.
London Capital Group Limited is registered in England and Wales with Reg No: 3218125. It is regulated by the Financial Conduct Authority (FCA) with the license number 182110.
London Capital Group (Cyprus) Limited is registered in Cyprus with the registration number 356430. It is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license No. 341/17.
All investors’ deposits are carefully kept in segregated bank accounts in compliance with the regulatory provisions. These accounts are opened with the top rated European banks that are well capitalised with proven records of reliability. London Capital Group financial records are properly audited and submitted to the regulatory authorities as at when due.
The LCG websites and trading platforms are protected using the Secured Socket Layer (SSL) technology which is the industry standard. SSL encrypts all data transmissions to the LCG servers, thereby preventing interception by internet fraudsters.
The European clients are further protected by the LCG membership of the Financial Services Compensation Scheme (FSCS) and the Investors Compensation Fund (ICF). Eligible clients within the FCA regulated jurisdiction are entitled to FSCS compensations up to £85,000 if LCG becomes insolvent. Also, eligible clients within the CySEC region can receive up to €20,000 ICF compensation if LCG goes bankrupt.
London Capital Group does not allow registrations from residents of the following countries: Australia, Belgium, Canada, New Zealand, Singapore and United States.
This is the proprietary trading platform from LCG. The platform is a customised version of the popular cTrader. The platform is web based and works on multiple devices and operating systems. Here are some of its features:
- It is a user-friendly platform suitable for all levels of trader.
- It gives access to trade over 7,000+ trading instruments in different asset classes.
- Supports low latency trading leading to ultra swift executions.
- Supports mobile trading via Android and iOS applications available in their respective app stores.
- Can be customised for price alerts via pop up, SMS and email.
- It has six chart styles that can be displayed on 14 standard or 27 tick timeframes.
- Multiple order types including limit order, stop order, and stop limit order, etc.
- Over 60 technical indicators for conducting in-depth market analysis.
- Inbuilt economic calendar for fundamental analysis.
- Analysis from Trading Central streams on the platform.
- News updates powered by FXStreet.
MetaTrader 4 (MT4) Trading Platform
London Capital Group states that “the MT4 is still the gold standard in online trading”. The MT4 platform is a popular, tested and respected trading platform widely used by numerous traders all over the world. LCG provides the MT4 platform as follows:
- MT4 Desktop terminal: This is the MT4 version that can be downloaded and installed on a windows computer. It is the main version that supports extension softwares and add-ons.
- MT4 WebTrader: This is the online version of the MT4 that runs on web browsers. It is accessible from any device and any operating system.
- MT4 Mobile: The MT4 platform is developed for iOS and Android devices. The apps can be downloaded from their respective app stores.
- MT4 Multiterminal: This is the MT4 version specially designed for money managers who can manage several accounts from a single account.
Here are some of the features of MT4:
- It is intuitive, fast and easily customisable.
- It integrates the LCG price movement technology which displays quotes of over 7,000+ instruments in real time.
- It has 3 inbuilt charts; line, bar and candlesticks which displays the assets prices in 9 timeframes from M1 to MN.
- It supports one-click trading and trading from the charts.
- It comes preloaded with 30 technical indicators and 24 analytical tools.
- It supports the automation of trades by using Expert Advisors (EAs).
- It gives access to the MetaTrader markets where traders can purchase EAs, indicators, signals and other trading tools to extend the MT4 features.
- Price alert notifications.
Financial Market research and analysis is updated daily on the website by London Capital Group analysts. It analyzes the market news, trading instruments and gives expert opinions of various market movements as well as trading ideas.
This is the online calendar that shows the dates and times of global events as well as their predicted impacts on currencies. The calendar is customisable to reflect only the traders’ favourite currencies, time zone, dates, etc.
This consists of market insights and ‘the week ahead’ videos. Unfortunately, these market insight video updates are not frequently updated.
LCG has partnered with ‘Trading Central’ to bring expert technical analysis to all its clients. It is accessible from the clients’ area of the website and also on the LCG trading platform. Trading Central is a renowned financial research and analytical firm that provides in-depth technical analysis, charting and trading strategies.
This section of the website gives vital information to traders on best practices, technical indicators and general trading knowledge. The blog articles are written by London Capital Group experts. The blog is unfortunately not frequently updated.
The LCG website contains a modest set of training videos. The videos aim to teach fundamental and technical analysis, charting and also some general trading tips. The videos are short and delivered by a presenter from LCG TV.
The trading guides consist of 23 articles grouped as follows:
- Introduction to trading: These articles explain CFDs, cryptocurrencies, forex signals, forex and financial markets.
- ‘How to’ Guides: The articles in this category look at how to invest in forex, share CFDs, trade options, trade Cannabis share CFDs, etc.
- Customer Support Guide: These guides explain how to; open LCG accounts, demo account, swap-free account, apply indicators to a chart, etc.
These tutorials consist of 12 videos on how to use the LCG trader platform and 10 videos on how to use the MT4 platform. It teaches traders how to place trades, use indicators, customise the platform, etc.
A trading glossary is provided to give quick explanations to trading terminologies which some clients might not be conversant with. It contains over 130 terms and their definitions.
Webinars & Seminars
Webinars are scheduled on the website every week. It is facilitated by LCG in-house experts. The webinars examine a range of topics such as market analysis, trading education, trading platforms, etc. Seminars are promoted on the website but there are no schedules and no records of previous seminars.
London Capital Group boasts of over 7,000+ trading instruments across 9 asset classes. Here is a summary of the available markets:
- Over 60 major, minor and exotic forex currency pairs
- 2 Spot metals
- Over 20 indices
- 15 Commodities
- Over 4,000 share CFDs from USA, UK and EU countries.
- 9 Bonds
- Over 500 ETFs
- Vanilla Options
- Classic Account: There is no minimum deposit required. The maximum leverage is 1:500 and the average spread is 1.45 pips for the EURUSD pair. European retail accounts are offered a maximum leverage of 1:30 while Professional accounts get 1:500.
- ECN Account: clients are required to maintain a minimum balance of $10,000 to qualify for the ECN account. The spreads start from 0 pips for the EURUSD pair. A commission of $10 per lot is charged on the MT4 platform while $45 per $1,000,000 traded is charged on the LCG trader platform.
Swap free Islamic accounts are available on request from the support team. Demo accounts are also available at no costs and allow traders to test the different platforms and LCG services before opening a real trading account.
The London Capital Group customer support team opens for business from Monday to Friday from 5:00 to 22:00 GMT. They can be reached on phone, email, instant web chat and a web form titled ‘Submit a Question’. On the social media, LCG is on Facebook, Twitter, LinkedIn, YouTube and Instagram.
London Capital Group does not charge for deposits and withdrawals except in cases where the payment processors impose their charges. It will then be passed to the client. Here are the payment options available:
- Bank Transfer: LCG processes bank wire transfers within a day but delays might be caused by the sending or receiving bank. Once the money reaches LCG accounts, it is posted to the trader’s account on the same day.
- Debit/Credit Cards: Card payments are usually processed within 30 minutes. Deposit fees of 2% are charged on credit cards while debit cards are free. Visa, Mastercard and China UnionPay are the accepted cards.
- Online Payments: The accepted online payments are Skrill and Neteller. Deposits are processed within 30 minutes while withdrawals take one business day. Online transactions attract no charges.
It only takes a few minutes to open a live trading account. Click on the button ‘Open Live Account’ found on the top right hand side of the LCG website.
Fill the 2-page form that displays. It requires personal details, contact details and trading experience questions. Accept the declarations and continue. You will be automatically logged into ‘My LCG’; which is the clients’ area of the website. This is where the trader can do a lot of things like create new accounts, make payments, upload verification documents, etc.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
London Capital Group is an award-winning broker that has celebrated over 20 years of existence in the online trading brokerage industry. It is well capitalised and regulated in the jurisdictions where it operates. The broker mus also comply with security standards as well as the regulatory directives.
London Capital Group provides access to trade over 7,000+ trading instruments which is commendable as it gives traders a wide choice of assets. The combination of MT4 and the LCG trader platforms gives traders flexibility. Both platforms offer sophisticated tools for trading and analysis. Technical analysis provided via ‘Trading Central’ can assist traders with daily market analysis and trading decisions.
LCG also cater to new traders with several training articles and videos as well as the demo accounts. Also, the classic account has no capital restriction allowing traders to decide how much they are willing to risk.
However, online traders who wish to use an ECN trading environment will have to deposit $10,000 before they can gain access to it. This is a vast amount especially when compared to other brokers that give access to ECN trading with as little as $200 or even less.
In summary, London Capital Group is a regulated and experienced online broker that provides competitive online trading conditions although the fees are not the cheapest.