LCG Trading Account – Review, Types, Process, Benefits, Charges & moreLast Updated Date: Apr 26, 2022
Check out all details of LCG Trading Account here.
London Capital Group is better known as LCG is a British Forex company that has its headquarters in Nassau, Bahamas.
The broker was established in 1996 and after a few years, they were one of the first trading companies in England who entered the online brokerage industry and provided online trading services.
The broker is registered in England and Wales and is regulated by the financial conduct authority or the FCA.
The company provides two training platform choices, NCG Trader and MetaTrader 4.
The company also provides a mobile trading application both for Android and iPhone users. LCG has developed a handful of trading accounts that differ from one another.
LCG Trading Account and Benefits
The broker provides trading services in various assets and also provides various trading instruments for all its traders.
So, the customers who want to trade with LCG need a way to use the services. Here comes the involvement of a LCG Online Trading account.
A trading account is similar to a bank account however with the trading account you can trade in shares and multiple assets in the global forex market and thus gain profit from it.
The user can add funds to the account and also redeem the profit to their main bank account.
The transaction process can be completed with the various payment methods provided by the company and in this case, LCG does not charge any extra amount for adding funds or redeeming funds.
The broker has developed three types of LCG Trading Account and these have been developed keeping in mind the needs, necessities, market requirement, experience level, and profit level of various users.
The users have the freedom to select the trading account according to the requirements and in this article, we would be discussing each of these trading accounts.
The benefits offered by the LCG Trading Account are:
- The reading company offers STP trading accounts and ECN trading benefits
- There is no minimum deposit
- Maximum leverage is about 30:1
- You can avail yourself features of a mini account
- You will have access to a premium account
- Demo account access will also be provided
- You will receive a segregated account
- Access to a managed account, the institutional account is also available
- It is completely suitable for beginners
- Trading services are also suitable for professionals
- Scalping subscription is available
- Trading service is available for daily trading, weekly trading, and also swing trading
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Find Trading Account Services of other Forex Brokers
LCG Trading Account Charges
|Trading Account Charges|
|Account Type||ECN Account||Standard (Classic) Account||Islamic Account|
|Initial Deposit||$10.000||No minimum deposit||No minimum deposit|
|Spread||0 pips||From 1.45 pips||From 0.5 pips|
|Commission||$45||No commission||No commission|
The company provides three types of LCG Trading Account for all the customers who opt for their services.
On the application fill up the page, the users will have the option to select the trading account which they want.
The trading account which you need mainly depends on the asset class, the deposit fee, profit margin, and your experience level in the forex market.
The main difference between all the three LCG Online Trading accounts is the leverage charge, spread charge, and commission charge.
- There is no minimum initial deposit charge
- The spread charge starts from 0 pips to 1.45 pips
- For most of the accounts, there is no commission charge
- Leverage charge is about 30:1
- No charge required for bank transfers, eWallets, and withdrawals
- No overnight charges or financing costs for an Islamic account
Types of LCG Trading Account
|Types of Trading Account|
|Trading Desk Type||ECN / STP|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
A forex trading account is an account that is used by the trader to trade on various currencies.
The number and the type of accounts required by the trader can vary upon the country or the area of jurisdiction and the authorities under which the company operates.
The company provides three types of LCG Trading Account and these accounts have been made based on the skill set and the experience of various traders.
All of these accounts have their advantages and limitations. It all depends on your requirements, trading strategies, and the expectation that you have from the market.
Electronic Communication Account (ECN)
- The day traders prefer this account
- The initial deposit amount is $10,000
- Traders who want faster execution cannot for this account
- You will have a connection to the interim market
- Charges are lower when compared to the standard account
- Low spread charge
- Commission charges are 45 dollars
- The leverage amount is 30:1
- You will get complete transparency and anonymity of the accounts
- You will have access to unparalleled forex liquidity
CFD Trading Account and Standard Classic Account
- Same features like the ECN account
- The average spread charge is higher
- No commission charges
- Access to the trading platforms
- You can trade using 7,000 instruments over 9 as a classes
- Competitive pricing and execution speed is good
- You will have access to analysis, research, and various other education materials
- No minimum initial deposit
- The spread charge is 1.45 pips
- The leverage amount is 1:30
The Islamic account or the swap-free account benefits is only available for the client to follow the Muslim faith and also follow the Sharia law principles.
The company does not charge any swap or any rollover or overnight fee for these positions.
- No extra charges are overnight fees
- No commission charges or widening spread charge
- Minimum deposit amount not required
- Spread starts from 0.5 pips
- No commission charges
- 1:30 is the leverage charge
The LCG traders can also enjoy demo account or virtual account benefits. In this virtual space, the traders will have a supply of virtual currencies.
In this account, the traders can practice trading, sharpen skills, learn about the market, understand market charts and all the trading instruments without any risk.
It is a risk-free environment where the traders can use the trading instruments and tools and also get accustomed to the trading process.
LCG Account Opening and Trading Process
Till now in the article, all necessary information about the various Trading accounts, the features, the benefits, and the experience level has been mentioned.
Now we will educate you about the account opening process and the trading process.
The process is quite simple and you can follow them for easier access.
- Go to the official website of LCG and click on open a LCG Trading Account.
- You will be taken to the application page where you need to fill out some information. You can also select your desired trading account on this platform.
- The next process is the KYC where you need to upload identity proof for authorization and verification.
- Upon successful verification, the login ID and password would be made available in your email address
- Use the trading platforms or the mobile trading application to log into your trading account
- Start by adding funds via the various payment methods offered by the company
- Also redeem them to your bank account to understand the total process.
- The demo account is also available and you can use them to get accustomed to the market
- Note: The broker will not charge any amount to open a trading account but you must remember that there are some charges like the deposit amount, commission charts, spreadsheets which have been mentioned in the previous sections.
Find Different Trading Account Types of Forex Brokers
LCG Trading Account – Features
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||Yes|
|Interest On Margin||Yes|
|Other Trading Features||Yes|
Exclusive trading features from the company are:
- Educational videos, lessons, and ebooks
- Trading signal subscription and email alerts and notification
- Guaranteed stop-loss, guaranteed limit order feature, and guaranteed fills and liquidity feature
- Access to automated trading, API trading services, and VPS services
- You can trade directly from the chart and in the interest of various margins
- Hedging support, promotional benefits, and a one-click trading feature is available
- Expert advisor available for automated training and some other traditional trading features
Check out Online Trading Services of FOREX Brokers
LCG Trading Account – Conclusion
London Capital Group or the LCG group is one of the most popular online forex brokers in the UK.
Due to its vast experience and years of practice, the company has acquired quite the name.
LCG is one of the few brokers who promised to provide competitive prices along with advanced technology and other services.
They are one of the leading trading service providers in CFD and provide services to various types of users and assets.
The broker also has an office in Cyprus and the Bahamas. LCG has received several prestigious awards like the best use of social media in 2016, best forex fundamental analysis provider in 2016, forex innovator of the year 2015, best platform-capital spreads in 2014, and many other awards.
Due to the huge experience of the company, they are favored by most of the traders.
The company provides three types of trading accounts that have exclusive features and differ from one another. The users will have the freedom to select the trading account.
LCG Online Trading – FAQs
Here is the list of FAQs related to the LCG online trading:
Does LCG provide Online Trading?
Due to its first experience in the market, the company provides various trading features and is one of the first companies to provide online trading features for all its traders.
The company caters to most of the UK residents and is thus quite popular.
What are the Commission Charges in LCG?
The amount of money charged by the company to provide trading features to the traders is the commission charge.
The company charges $45 for the ECN account whereas the other accounts do not have any commission charge.
Does LCG provide Demo account Trading?
The company has developed a demo account where the users can practice trading, sharpen their skills, develop strategies and get to learn more about the market.
Is trading Free at LCG?
Trading is mostly free whenever you are trading with LCG.
However, there are some charges which vary depending on the trading account like the commission charge, leverage amount, spreadsheets, and the initial deposit amount.
Does LCG provide Spot Metals Trading?
The company allowed the traders to invest in metals and various other commodities and other assets.
However, you must visit the official website to know which account has this feature.
Does LCG provide Stock Trading?
Along with various other assets, LCG allows its latest to invest and trade in stocks.
Stock trading features are available in all the trading accounts and the company does not charge any extra amount.
What is Spread at LCG?
The spread charge depends on the trading account that the user is using. The spread amount is variable and it ranges from 0 pips to 1.45 pips.
Is LCG safe for trading?
The broker is regulated by the FCA and all the trader’s information and money are in safe hands. The company offers negative balance protection along with segregated bank accounts.
Does LCG provide Trading Tips?
Along with the education materials, customer support, 7,000 trading instruments, and various other features, LCG is also known to provide tips to the new traders.
Fill up the Form – Open Forex Trading Account Now!
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