Founded way back in 1996, LCG (London Capital Group Ltd) has been providing financial services for quite some time. They are nevertheless more-so specialized now in online trading services and are AIM-listed, and of course, FCA regulated. Eventually, they became one of the UK’s largest and most recognized Forex brokers.
Naturally, their pedigree has won them quite a number of awards, including 2012’s best CFD Provider of the Year at Financial Times/Investors Chronicle, 2011, and 2013’s Best Mobile Trading Platform by Money AM.
While LCG has a good reputation among stakeholders, it finds its major appeal in its excellent user-friendliness, customer service, and overall simplicity. In essence, consumers can access and trade a large number of available assets through the MetaTrader 4 platform, the web LCG Trader or MetaTrader 4 web or their LCG mobile application, as well as the MetaTrader 4 app. This emphasis on simplicity and range is important for all traders but more so for novices. At first glance, LCG does make a good impression, but of course, a deeper evaluation will help us look beyond just the first look.
As aforementioned, the FCA in the UK regulates LCG as well as CySec in Cyprus. As a result, ESMA guidelines govern their operations, and this subsequently implies further security.
For one, LSG’s negative balance protection makes sure that whatever happens, clients will not lose beyond their current account balance. Also, some instruments can indulge in guaranteed stop losses, as the market condition determines. It is worth noting, however, that additional costs may occur provided they are kept open.
The ESMA guidelines also limit leverage. Ultimately, clients may find the level of security unnecessary or muggy, and in such case, LSG provides the option for clients to apply for ‘Professional’ status. For this, the client must have capital along with proof of trading experience. Still, all things being equal, additional investment types would be accessible to the client, as well as improved admittance to leverage.
PLATFORM AND TOOLS
London Capital Group Ltd provided their clients with two basic options to trade, LCG Trader and MetaTrader 4 (MT4). Of course, both have their advantages and limitations, so choosing between them eventually comes down to preference. In any case, here are a few of their distinctive features to guide you toward making your decision.
This is the LCG’s very own flagship platform praised for its cutting-edge interface, excellent charting package, one-click trading, and of course, full integration throughout desktop and mobile platforms. Some of its features include;
- Fully customizable charting package and overall platform
- Useful features such as instrument’s Depth of Market, Client Sentiments, and numerous technical indicators
- 7000+ different markets from 9 different asset classes
- Web and app-based, compatible with both android and IOS
- Suited especially for ECN traders.
The LCG Trader multi-asset platform is easy to use and provides a myriad of unique features. Nevertheless, LCG also provides traders with the option to use a slightly more flexible and familiar platform—MT4.
The independent trading platform, MetaTrader 4, developed by MetaQuotes Software Corporation, is more popular among experienced traders, and one may consider it the industry standard for online brokerage.
While most day traders seem to prefer using the firm’s own platform, the MT4 also has certain features that set it apart.
- Novice traders may find this a lot easier to understand and operate
- You can run ECN accounts as well as Islamic and Classic accounts here
- The interface is essentially user-friendly
- Allows for back-testing and automated trading
LCG’s LATEST AWARDS
The pioneering status of LCG ever since its inception in 1996 and subsequent involvement in online brokerage has bagged them quite the number of awards, a few of which include;
- Best Mobile/Tablet Trading Application (Shares Awards 2016)
- Best Forex Fundamental Analysis Provider (UK Forex Awards 2016)
- Forex Innovator of the Year (UK Forex Awards 2015)
- Best Platform Capital Spreads (Online Personal Wealth Awards 2014)
- Best Mobile Trading Platform (Money am Awards 2012)
- Best Online Trading Platform (Money am Awards 2012)
LCG’S EDUCATIONAL MATERIALS
There is not much difference between what LCG offers educationally and what one can consider the standard for providing educational materials on CFD markets and Forex. In essence, it is not very likely for a beginner to depend entirely on the LCG educational offerings and become adept in the markets.
Nevertheless, the weekly Market analysis webinars provided by Trading Central, along with an adequate glossary, eBooks, trading tools, among other features, suggest that their education material is more than sufficient for a beginner to get through the basics. Consequentially, there’s not much to help improve an experienced trader’s skills.
Contact is available 24/7 via phone, e-mail, and mail and has a very quick response time.
LCG TRADING INFORMATION
With LGC, both retail and professional clients have offers plugins from top choice a plethora of regulated and unregulated trading solutions. Their remarkably low-cost CFD’s make trading of indices, cryptocurrencies, shares, equities, and other global markets even more convenient.
All trading activities are done across two fully integrated desktop and mobile platforms in both web and app formats – LGC Trader and MetaTrader 4.
The availability of the option for an ECN account, Classic (Standard) account, and Islamic account further proves LCG’s dedication to customer convenience in trading. There are no attached fees to withdrawals made, and deposits can be made flexibly through different methods, including free bank transfers and E-wallets like Neteller and Skrill.
LCG CUSTOMER SERVICE
LGC customer service is available to clients through live chat, emails, and of course, telephone 24/5, i.e., 8 a.m.-7 p.m. UK time, Monday-Friday. They resolve any problems faced in registration or use of their platform swiftly, and per the situation, you can even call the ‘dealing desk,’ which is a huge help.
The staff is responsive, courteous, and knowledgeable, and the FAQs are relatively instructive and efficient.
In general, LCG customer support is polite and reliable, making sure that whatever obstacles, requirements, or inquiries you may have are met quickly.