London Capital Group Review

London Capital Group (LCG) is a major London-based forex and CFDs brokerage. LCG offers access to a wide range of asset classes, including forex and CFDs on spot metals, indices, shares, commodities, ETFs, bonds and interest rates.

Choose your quick section of our London Capital Group review below.

A Quick Overview of our London Capital Group Review:

LCG has an excellent reputation for customer service, supports advanced technology and offers competitive spreads for algorithm trading. The global brokerage is regulated by the FCA in the United Kingdom and CySEC in Cyprus.

LCG FAST FACTS

Founded                              1996 (proprietary trading business)

2003 (as Capital Spreads)

Company name                London Capital Group Limited (LCG)

Headquarters                    London, United Kingdom

Executive Chairman        Charles-Henri Sabet

Is London Capital Group regulated?

Yes, London Capital Group (LCG) is regulated by 2 top-tier regulatory authorities:

Is London Capital Group regulated in South Africa?

No, London Capital Group is not regulated in South Africa by the Financial Sector Conduct Authority (FSCA).

Is London Capital Group (LCG) legit?

Yes, LCG  is a legitimate forex and CFDs broker and electronic trading platform. The company was founded in 1996 and it is regulated under license to perform forex broker and multi-asset trading services by top-tier authorities in the European Union. It is regulatory compliant and considered safe to use by forex and CFDs traders around the world.

What is London Capital Group (LCG)?

LCG is a market maker forex and CFDs trading company based in London, United Kingdom. Market makers typically have a lower minimum deposit than ECN brokers as well as smaller minimum trade requirements and no commissions on trades.

LCG offers the popular MetaTrader 4 (MT4) web-based trading platform as well as its proprietary platform, LCG Trader. These advanced electronic platforms allow users to trade a wide array of assets, including forex, shares, indices, spot metals, futures, bonds and interest rates across a range of devices.

Is LCG a good broker?

LCG is rated highly as a trusted broker in terms of providing excellent opportunities for algorithmic trading, competitive spreads, state-of-the-art trading platforms and responsive customer service. LCG is regulated by two top-tier authorities and is regarded as safe to use by South Africa forex and CFDs retail traders.

Algorithmic trading

LCG allows you to develop automated forex and CFDs trading strategies, access real-time trading capabilities and automate your forex, cryptocurrency, precious metals, CFDs bonds, indices and commodities trading using REST and FIX application program interfaces (APIs).

Competitive spreads

In terms of pricing, LCG performs on par or better than the industry standard. LCG offers tight spreads on a wide range of global CFDs, including forex, indices, commodities and precious metals.

Electronic trading platforms

LCG offers clients two ways to trade the markets. You can choose between the MetaTrader 4 (MT4) trading platform which is the world’s most popular platform or LCG’s proprietary platform, LCG Trader. Both trading platforms can be accessed via desktop and mobile smart devices.

LCG Trader offers access to thousands of financial instruments which can be traded from the chart or through the new order window. LCG Trader is a closed system so advanced traders who prefer to incorporate other analytical and automation tools in their trading process may prefer to use MT4 because LCG Trader does not allow you to incorporate other analytical and automation tools in the trading process.

Responsive customer service

LCG is highly regarded for its excellent customer service. Their customer support is responsive and knowledgeable, the chat box pops up frequently when trading via your desktop and daily emails get you ready for each day’s action.

What products does LCG offer?

LCG focuses on forex and CFDs trading for individual and institution traders and investors.

LCG clients can choose to trade a wide variety of currency pairs including majors, minors, Australasian, Scandinavian and exotics as well as CFDs on multiple asset classes. You benefit from low spreads with competitive forex trading prices and can trade on leverage. Clients access these markets via the MT4 trading platform or LCG Trader on any device.

Forex                   

Trade forex CFDs on 60+ currency pairs

Spot metals       

Trade CFDs on a range of precious metals including gold and silver

Indices                

Trade CFDs on some of the world’s most popular spot and futures indices, including UK100, Wall Street and US500

Stocks

Trade CFDs on 4 000+ global shares

Commodities

Trade a wide range of metal, energy and agricultural commodities on some of the most active global markets,  including gold, silver, US crude, Brent oil, coffee and sugar

Bonds and interest rates

Trade CFDs on bonds and interest rates markets and invest in some of the most influential and liquid fixed income market, including BOBL, Schatz, Euribor, Bund, Gilt and US 10 Year

Vanilla options

Trade vanilla options on a wide range of global currencies, indices and shares, including the UK 100 (FTSE) and EURUSD

ETFs

Trade CFDs on 500+ exchange traded funds (ETFs)

What is the minimum deposit for LCG?

$0 minimum deposit for Standard account

$10 000 for ECN account

There is no minimum deposit needed to start trading with LCG on the Standard live account. All you need to do is fund your account with enough to cover the margin requirement for the trade you wish to open.

It is the client’s responsibility to ensure they have sufficient margin to maintain their open positions and to make further deposits if necessary.

What leverage does LCG offer?

LCG offers a maximum leverage of up 100:1 for major currency pairs, up to 50: on minor pairs and up to 10:1 on exotics.

LCG supports trading with leverage. This means you can enter into positions larger than your account balance and trade without depositing the full value of your position in advance. The downside of leverage is it can result in significant, rapid losses to your capital.

LCG takes a form of deposit against any losses that you may incur when you trade. This collateral is referred to as margin. The margin needed to open each trade is derived from the leverage limit associated with the size of the position and the instrument you wish to trade.

A 50:1 leverage ratio means that the minimum margin requirement for the trader is 1/50 = 2%. Therefore, a $50 000 trade would require you to put $1 000 up as collateral.

Does LCG offer social trading and copy trading?

No, LCG does not offer a platform for social trading and copy trading.

Does LCG allow scalping?

Yes, LCG does allow scalping. However, the above-average spreads means LCG is not the ideal forex broker for this trading strategy.

Does LCG offer a demo account?

Yes, LCG does offer a demo account.

Does LCG have Nasdaq?

Yes, LCG offers trading in the US NASDAQ 100 US or US TECH 100 technology stock index, accessible as CFDs.

The NASDAQ Composite Index is arguably the most significant large-cap growth index in the world. The Index comprises 100 mega companies – domestic and foreign – listed on the premier index, the NASDAQ, aka US_Tech100.

The NASDAQ Composite Index (US_Tech 100) has outperformed the S&P 500 index 10 times over in the past 12 years (as at March 2021). By the end of 2019, the market capitalisation of the NASDAQ was $9.8 trillion. By 2021, that figure had increased substantially.

What trading platforms does LCG offer?

LCG has two electronic trading platforms:

MetaTrader 4 for web browser and desktop

MetaTrader 4 (MT4) is the world’s most popular electronic trading platform for retail forex and CFDs trading. It is a Windows-based electronic trading platform with automated trading capabilities.

LCG clients must have a fxTrade account with an MT4 sub-account in order to access a licensed version of the MT4 platform that is linked to LCG’s execution and spreads.

LCG Trader

LCG Trader is a simple and easy-to-use proprietary trading platform that allows LCG clients to access the forex and CFDs markets. It is fully-integrated across desktop and mobile platforms and is suitable for both novice and advanced forex traders.

How to open a live trading account with LCG

Step 1: Register online

You can open a live trading account with LCG online via the official website or app. Follow the easy steps to complete the online application. It takes under 5 minutes to register to open a LCG account and then your application will be reviewed and approved by the onboarding team.

LCG offers a demo account that you can use to practice and familiarise yourself with their platform before committing to trading forex with real money.

For traders and institutions who trade large volumes, LCG offers its professional ECN forex trading service complete with low commissions.

Step 2: Fund your account

Once your account has been approved by LCG’s onboarding team, you can log in to your account and deposit, withdraw and transfer funds. This can be done using the transfers tab of your portal.

You can deposit funds into your LCG account using a number of methods, including debit and credit cards, wallets and bank wire transfer.

There is no minimum deposit required for a Standard LCG account.

Step 3: Start to trade with LCG

You are now ready to place your first live trade using your LCG account.

What types of accounts does LCG offer?

LCG offers three types of live trading accounts for retail traders and investors

CFD trading accounts

Trade over 7 000 instruments across 9 different classes

Islamic trading account

LCG offers an Islamic account which is also known as a swap-free account. No swap or rollover interest is applied on overnight positions. An Islamic account is offered to LCG clients of Muslim faith and complies with Sharia law.

ECN accounts

ECN accounts allows institutional clients to trade from 0 pips with no requotes and direct market access. Clients need to maintain a $10 000 account balance to qualify for an ECN account and can trade on LCG Trader or the MT4 platform.

Deposits and withdrawals

How to deposit money into a LCG account

There is no minimum deposit or minimum balance required to open or maintain a LCG Account. However, you will need funds in your account in order to open positions and satisfy the margin requirements.

You can fund your account using a number of different methods:

Bank transfers

Funds are credited into your trading account within one working day from the time LCG receives funds into your account. Free to deposit by bank transfer.

Visa or Mastercard

Funds available in your LCG account within 30 minutes.

2% deposit fee for credit cards

0% deposit fee for debit cards

Union Pay, Skrill or Neteller

Funds available in your LCG account within 30 minutes.

Free to deposit by an internet payment processor.

How to withdraw money from a LCG account

LCG returns all funds to source. For instance, if you deposited using a credit card, you would need to withdraw funds back to that same card.

You can withdraw funds from your account with the same methods as deposits payment methods.

  • bank transfers
  • credit and debit card
  • Internet payment processor

How many days do LCG deposits and withdrawals take to process?

Deposits

  • bank transfers take up to 1 working day
  • card transfers and internet payment processors take up to 30 minute

Withdrawals

  • all  methods take up to 1 working day

Costs : How much does it cost to trade with LCG?

LCG makes money from the spread which is competitive within the industry.

LCG uses a dynamic leverage model both on MT4 and LCG Trader platforms which automatically adapts to clients trading positions. As the volume per instrument increases, the maximum leverage offered decreases accordingly.

Guaranteed stop losses are available only on LCG Trader at an extra cost of about 3 pips.

Clients trading with an ECM account with a minimum balance of $10 000 get access to the best spreads the brokerage can offer. There is a difference between spreads offered on ECN accounts when using LCG Trader and MT4.

  • LCG spreads

LCG’s spreads are competitive compared to the industry average on all financial instruments except for individual stocks.

  • Overnight financing

Overnight financing is charged at 0.04% admin fee per day and is charged for each position open at 22h00 (UK time) each day. Three days financing will be charged for positions held after 22h00 (UK time) on Fridays.

  • LCG inactivity fee

LCG chares an inactivity fee of £15 per month for each live account with no trading activity in 180 days (6 months) and 2% on credit card deposits.

  • LCG deposit fee

LCG does not charge a deposit fee via any method. Your bank or payment provider may charge you a transaction fee and international processing fee.

  • LCG withdrawal fee

LCG does not charge a fee for withdrawal by banking cards or Internet payment processors. Withdrawals by bank wire transfer may incur a fee that is charged by your bank or payment processor.

Does LCG offer a Welcome Bonus?

No, LCG does not offer a welcome bonus when you sign up nor does it bonuses or rewards for traders’ promotions.

Can I start trading with no money in my LCG Standard account?

No, you will need funds in your LCG Standard account in order to open position. There is no minimum deposit or minimum balance required to open or maintain a LCG account.

Open a demo account if you would like to practice trading forex and CFDs with LCG without putting any of your own money into the account. You trade with ‘fake’ money on a demo account until you feel ready to start trading with real money with a LCG Standard account.

Does LCG offer online customer support?

Yes, LCG provides dedicated online Customer Service support for its forex traders via Live Chat on their website. Live Chat is available 24-hours a day on the 5 working days. You can also contact LCG Customer Services via email or telephone.

What awards has LCG received recently?

LCG has won numerous awards for our innovation, technology and service.

The most recent awards include:

  • City of London Wealth Management Awards 2017 : Best Spread Betting Provider
  • Shares Awards 2016 : Best Mobile/Tablet Trading Application
  • UK Forex Awards 2016 : Best Forex Fundamental Analysis Provider
  • Online Personal Wealth Awards 2016 : Best use of social media
  • UK Forex Awards 2015 : Forex Innovator of the Year
  • Online Personal Wealth Awards 2014 : Best platform – Capital Spreads

Where is London Capital Group headquarters based?

London Capital Group has its headquarters in London, United Kingdom.

77 Grosvenor Street, Mayfair, London W1K 3JR[1], United Kingdom

Who is the CEO of LCG?

As of August 2020, LCG CEO and managing partner Charles-Henri Sabet has left LCG. Sabet is now running a new Swiss online trading firm called FlowBank.

The CEO of LCG is Charles-Henri Sabet. He was born in 1961 in Lausanne in Switzerland and is a Swiss-Lebanese entrepreneur who founded Synthesis Bank in 1999.

Charles-Henri Sabet started his career in finance; first at Crédit Agricole, then at Swiss Bank Corporation (now UBS). In 1991, Charles-Henri Sabet, founded TCC (Trading + Commercial Consulting), a Geneva-based company specialised in forex, options and interest rates. In 2009, Sabet became Chairman of GIO (Global Investment Opportunities Management Ltd), an Investment management company incorporated in the Cayman Islands.

In 2014, Swiss entrepreneur Charles-Henri Sabet invested £17 million in LCG and became executive chairman of London Capital Group. In 2017, LCG was listed on the NEX Exchange Growth Market and announced its plan to delist from the London Stock Exchange AIM market the following year.

In 2018, LCG it was to be taken private by Sabet and his investor group GLIO Holdings under the company name SLCG International. London Capital Group Holdings plc remains publicly-traded and operates as a cash-holding company.

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