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London Capital Group Review London Capital Group Review
London Capital Group Review

London Capital Group Review 2018

Our London Capital Group fx review will look at some specific areas that we consider crucial to those looking for the best forex brokers that suit their trading needs.

London Capital Group Forex Review

The London Capital Group specializes in providing online trading for aspiring clients who may be looking to trade in forex or Contracts for Difference (CFDs). The company launched in 2005 as a traditional forex brokerage and quickly impressed the forex community in winning numerous awards including ‘Best Mobile Trading Platform’ and ‘Best CFD Provider’.

In recent times, London Capital Group has received an injection of capital from investment banker Charles-Henri Sabet that it has used to upgrade the quality of services that it provides while also extending the range of products on offer to its clientele.

London Capital Group USA

Unfortunately, our London Capital Group review found that this broker does not provide services to US clientele. This is likely due to the strict regulations imposed on USA trading by the SEC in relation to CFDs.

Regulatory Agencies

The London Capital Group is regulated by two regulatory bodies:

  • London Capital Group Limited (LCG) is a company registered with the Financial Conduct Authority (FCA) under registration number 3218125 in England and Wales.
  • London Capital Group (CYPRUS) Limited (LCG CY) is a company registered with the Cyprus Securities and Exchange Commission (CySec) under license number 341/17.

Reliability and Security

As an award-winning brokerage with a solid history, London Capital Group is an extremely trustworthy and reliable forex broker. The company has received a multitude of industry awards that illustrate their prowess as a reliable broker and continuingly operate with best international practices in mind, ensuring the safety of client’s funds and personal data.

Client’s funds are protected via the segregation of funds away from those of the company by using independent accounts in Tier 1 banks. Further security for clients is provided using Secure Socket Layer (SSL) encryption for the transmission of client information and personal data that ensures no third-party agent can gain access to this information.

London Capital Group Trading Platform

Our London Capital Group fx review identified that there are two main trading platforms that this company provides to its client-base. The LCG Trader, and more recently the MetaTrader 4 trading platform.

With the LCG Trader, clients can easily access the global financial markets on their desktop computers and on their mobile devices. The interface is highly customizable and features an advanced charting package and many trading tools.

With MetaTrader 4 users receive an easy to operate navigational interface, substantial language support options, advanced chart packaging and access to an expert advisor feature.

Mobile Trading Capability

Both the LCG Trader and MetaTrader 4 are supported as Android and iOS trading apps which clients can download and install onto their smartphones and other mobile devices.

Types of Trading

Our London Capital Group fx review uncovered that the company provides their clients with the ability to trade over 7000 instruments across 9 separate asset classes. The 9 asset classes available are:

  • forex trading
  • indices
  • shares
  • commodities
  • spot metals
  • bonds
  • vanilla options
  • ETFs
  • Spreads & Costs

They offer services in all the popular currency pairs including majors, crosses and exotics.

For those keen to trade Cryptocurrency, London Capital Group introduced cryptocurrency as a CFD trading in 2017 for three pairs, which are:

  • Bitcoin/USD
  • Bitcoin/EUR
  • Bitcoin/GBP

Account Types

Our London Capital Group reviews found that there are three types of accounts available to potential clients:

London capital group demo account: For those keen to explore the website and trading platforms prior to engaging in active money trading, the company provides a London Capital Group demo account for prospective clients to try to gain the experience and insight necessary to trade in forex.

London capital group standard account: For this account type there is no minimum deposit providing the amount deposited will cover the margin required to perform a trade. The standard account allows access to over 4000 different markets.

London capital group premium account: For the experienced trader, there is the option of opening the premium account which gives the user access to many trading tools, high-quality analysis of the global markets and personalized attention from an account manager. To open a premium account, traders must have a minimum trade balance of 25,000GBP.

Spreads and Commissions

As London Capital Group is an ECN brokerage firm, the spreads offered will vary significantly. Hence, market execution may provide the lowest prices in the industry but there may be a slippage when an order exceeds market value. In any case, spreads are considered very competitive with this broker. It must be noted that they do charge a commission on trades.

Spreads with London Capital Group are also dependent on the asset that is being traded with minimum spreads of major currency pairings starting from as low as 1 pips and as low as 0.2 pips for indices trading.

Payment Options

For deposits, clients can use Visa and Mastercard and other select debit cards or bank wire transfer. Withdrawal requests are usually approved and processed within 24 hours but only where the client’s personal information is up to date on company files.

Promotions and bonuses

Our London Capital Group fx review could not identify any current bonuses and promotional offers that are available to their existing clients or those looking to join.

Customer Support

Customer support specialists are on hand from 8am to 7pm (UK time) for the 5 business days that the forex marketplace is open. The contact options for clients seeking assistance include via email, live chat and telephone.

Positive Attributes

  • Very secure and reliable
  • London Capital Group demo account is available
  • MetaTrader 4 trading platform is available to clients
  • Regulated by the FCA
  • Usually provides tight spreads
  • Minimum deposit of just $1 to open a trading account
  • Offers three cryptocurrency pairs on Bitcoin – USD, GBP, EUR

Negative Attributes

  • Lack of Social Trading Platforms and Social Trading options
  • No bonus or promotional offers for their clients
  • Do charge a commission on trades
  • Do not provide services to the USA

Conclusion

Our London Capital Group review in 2018 found that the company are focused and committed to offering a great experience to retail traders. What you can expect from this company is high-quality services, minimal trading fees and quality customer support in a safe and secure environment. With their business practices overseen by the FCA, potential clients can be safe in the knowledge that London Capital Group is a legitimate brokerage firm.

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