London Capital Group offer three ways to trade: Forex, CFDs, Spread Betting.
To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, London Capital Group offer a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 182110). London Capital Group puts all client funds in a segregated bank account and uses tier-1 banks for this. London Capital Group have been established since 1996, and have a head office in UK.
Before we dive into some of the more detailed aspects of London Capital Group’s spreads, fees, platforms and trading features, you may want to open London Capital Group‘s website in a new tab by clicking the button below in order to see the latest information directly from London Capital Group.
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What are London Capital Group's spreads & fees?
Like most brokers, London Capital Group take a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on London Capital Group’s website. The colour bars show how competitive London Capital Group’s spreads are in comparison to other popular brokers featured on BrokerNotes.
EUR/USDNot offered $1 per lot
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
USD/JPY0.4 PIPS $1 per lot
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
GBP/USD0.5 PIPS $1 per lot
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
As you can see, London Capital Group's minimum spread for trading EUR/USD is N/A pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with London Capital Group vs. similar brokers.See all Spreads
How much does London Capital Group charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with London Capital Group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $12.01. Here's a rough breakdown of the fees and how this compares against AvaTrade & Plus500.
|London Capital Group||AvaTrade||Plus500|
|Typical overnight fee:||$8.01||$5.00||$9.40|
|Total cost of a 100k trade:||$12.01||$12||$15.4|
|$0.01 less||$3.39 more|
|Visit LCG||Visit AvaTrade||Visit Plus500|
All fees/prices are for informational purposes and are subject to change. Last updated: March 22, 2018.
What can you trade with London Capital Group?
|FX / Currencies||LCG||AvaTrade||Plus500|
|# of forex pairs offered||66||59||61|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||London Capital Group||AvaTrade||Plus500|
|# of commodities offered||10||16||17|
|Indiced & Stock CFDs||London Capital Group||AvaTrade||Plus500|
|# of Stocks offered||99||1816|
|See LCG's Instruments||See AvaTrade's Instruments||See Plus500's Instruments|
What's the London Capital Group trading experience like?
1) Platforms and apps
London Capital Group also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.See LCG's platforms
2) Executing Trades
London Capital Group allow you to execute a minimum of trade of £0.50. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As London Capital Group offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.
As a nice bonus, London Capital Group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, London Capital Group offer margin up to 0.001% on currencies.
London Capital Group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You can see all of the account features offered by London Capital Group here.
Finally, we’ve listed some of the popular funding methods that London Capital Group offers its traders on the right.
3) Client support
London Capital Group support a limited number including English, and Italian
London Capital Group have a BrokerNotes double AA support rating because London Capital Group offer live chat, phone, email support and less than three languages.
4) What you’ll need to open an account with London Capital Group
As London Capital Group is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore London Capital Group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with London Capital Group you can visit their website here.
How to trade with LCG
LCG’s proprietary Trader Platform software is widely regarded as a leading example of contemporary trading technology, having received multiple industry awards. The full web-based trading platform and native Android and iOS mobile apps allow for full-functionality trading from almost any internet connected device a trader has access to, wherever they may be.
LCG Trader’s customisable functionality is a particularly unique and valuable feature, allowing traders to layout their trading station in the way that provides them with optimal usability and convenience.
Navigating around the platform is intuitive with the menus and functionality easily accessible in-trade. To the top is the main toolbar, split between the left and right of the screen. On the left new charts and orders can be opened, chart mode changed, analytical tools accessed and chart and platform preferences altered.
On the right are the quick trade settings, platform language and platform layout options. The platform timezone is changed to the bottom right. Within the charts is a deep reservoir of information including market price, volume, open, close, high and low, which the trader can modify. Chart data is displayed at the bottom left of the platform when the market snapshot tool is not activated.
The chart menu toolbar is situated to the middle of the top of the trading platform screen. From here changes can be made to the chart such as adding indicators, saving templates, chart preferences, time frames. Most importantly, if ‘quick trade’ mode is enabled in the preferences, trades can be placed directly ‘in-chart’ with a single or double click from the quote buttons located to the centre.
Account deposits can also be made directly from the trading interface without the trader having to go into the ‘My LCG’ area.
Opening a New Trade on the LCG Trader Platform
Clicking ‘create new order’ from the quick trade quotes seen to the left opens a new deal ticket from which a market order can be executed, specifying a buy or sell at the best available price for that size. Guaranteed stop losses can also be placed at or beyond the minimum distance requirement for that instrument. The guaranteed stop loss spread charge also varies between instruments.
An extensive set of functionalities are accessible on the LCG Trader platform via a right click. By right-clicking over a chart the trader can quickly trade, create new orders, add technical indicators, add graphical objects and set price alerts. Charts can also be customised via the right-click menu.
The LCG Trader mobile app retains almost the entire functionality of the browser-based desktop version including the full charting package, one-tap trading and high-speed execution. Building a watchlist of most traded instruments on the mobile app is the first recommended step, giving convenient mobile access.
Once a watchlist has been built an order ticket can be launched by tapping on the instrument to be traded, which will bring up a quick deal ticket. The stake size is then selected and a buy or sell order given and stop loss set if required.
The full charting package functionalities are accessible from the full-screen mode of the chart.
What education & analysis resources do LCG provide?
LCG’s analysis and education resources are a particular strong suite of the broker, which was recognised as ‘Best Forex Fundamental Analysis Provider 2016’ at the UK Forex Awards. Daily and weekly fundamental and technical analysis video materials are available to all traders.
An extensive range of analysis tools and educational tutorials, on a wide range of fundamental and technical analysis principles, are also provided to help traders put the resources available to them to best use. Free webinars are also a central feature of the platform’s analysis and education section.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.LCG.com on March 22, 2018.