LCG Review

LCG Overview

Founded 1996
Platform LCG Trader, MT4
Minimum account size $0
Minimum lot size 0.01
Tradable assets 5,000+
Maximum margin 1:500
Spread on EUR/USD 1 pip
Payment methods Debit/Credit Cards, Bank Transfer, Skrill
Demo account Unlimited time
Accepts US traders No
Regulated FCA(UK)
Support Phone, Email, Live Chat
Website www.lcg.com

 

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Pros

  • Regulated
  • Over 5,000 tradable instruments
  • No minimum deposit
  • Excellent platform design

Cons

  • Customer support partially available on weekends
  • US traders not accepted

 

London Capital Group (LCG) is a currency broker that has been in the business for more than two decades. Based in London, they are operating with a license from the Financial Conduct Authority in the UK. Aside from the standard platforms that they offer, they also provide feature-rich educational materials and a premium trading service for VIP clients. How does their service compare to the industry standards and should you consider them as your broker of choice? Read this review to learn more about LCG.

Platform

LCG has two major platform offerings. There’s the industry standard MetaTrader 4 which is complete with charts, indicators and other tools that you can use to for better trading results. They also offer the web-based LCG Trader where you can trade on 7 classes of assets directly from a web browser. Thanks to the convenience of using these platforms, I am giving them a Platform score of 9/10.

Design

Both platforms are responsive but the LCG Trader in particular uses a color that is easily identifiable to the LCG brand. This makes the browsing experience much better and this warrants a Design score of 5/5.

lcg platform

Minimum Deposit

With this broker, you can make an initial deposit of any amount you wish on your account because there is no minimum. For this reason I am giving this broker a Minimum Deposit score of 5/5.

Minimum Lot Size

Micro lot trading is possible with this brokerage and you can set the trade with a minimum size of 0.01. This is at par with the allowed minimum lot size of majority of brokers today. For this I am giving them a Minimum Lot Size of 4/5.

Tradable Assets

You can trade on over 5,000 markets which are composed of 7 asset classes. With so many options, you’ll have the opportunity explore different markets under the same broker and this is reason why I am giving them a Tradable assets score of 5/5.

lcg assets

Payouts

They provide transparent pricing for their instruments and this includes major forex pairs like the EUR/USD and the GBP/USD which both have tight spreads of 1 pip. This rate warrants a Payouts score of 9/10.

Withdrawal Time

Requesting to withdraw your funds would require you to fill-up an online request form directly from their website and it only takes 1 business day to process. Please keep in mind that withdrawals in the UK may incur fees for certain transactions. This warrants a Withdrawal Time score of 10/10.

Deposit and Withdrawal Methods

Among the banking methods that the support are debit and credit cards, Bank Transfers and online payment services such as Skrill. Since they cover the most popular and most secured payment systems, they earned a Deposit and Withdrawal Methods score of 4/5.

lcg deposit

Customer Support

Their professional support team can be contacted via phone, email, and live chat but do take note that each department has its own service hours. The main customer service line is open every Sunday 10:00pm to Friday 10:00pm (GMT) while the sales department is open from Monday 8:00am to Friday 8:00pm (GMT). It terms of support quality, their friendliness and ability to handle any question or issue were highly satisfactory and this deserves a Support Score of 13/15.

lcg support

Quoting Accuracy

Their platforms have low latency and are capable of executing trades immediately while the prices shown are in real time. This kind of speed and precision deserves a Quote Accuracy Score of 10/10.

Reputation

Given that they are regulated by the UK’s Financial Conduct Authority and their company is publicly listed on the London Stock Exchange, LCG’s reputation is definitely not questionable. Knowing that you are trading with a globally recognized brokerage that is operating under the very strictest standards and practices will give you peace of mind. Most of the reviews and user comments also show that they have a good standing in many countries based on the majority of user reviews that we found online. This kind of credibility deserves a Reputation score of 18/20.

lcg reputation
lcg reputation
lcg reputation

Conclusion

At LCG, you can have a superior trading experience thanks to their tight spreads, highly competitive pricing on over 5,000 trading instruments, top notch support and many other advantages. And with the regular oversight of an internationally recognized financial regulator, you will be able to trade with confidence knowing that you’re registered with a broker that upholds strong security standards.

Final Score: 92/100

 

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