LCG group includes 2 related companies.
LCG UK - located in the United Kingdom, regulated by the Financial Conduct Authority (FCA).
LCG BS - located in the Bahamas, regulated by the Securities Commission of the Bahamas (SCB).
Be aware, UK company have some trading restrictions because of the local rules and regulatory obligations.
At the same time, BS company is free from such restrictions and has more flexible trading conditions, so one can open an account there.
LCG group accepts clients from all over the world, excluding USA, Canada, Australia, New Zealand, Belgium, Singapore.
Forex broker offers the following underlying assets for trading.
|60+ Currency Pairs||Based on major and minor world currencies.|
|15 Indice Cash CFDs||Based on baskets of different blue-chip stocks.|
|16 Indice Futures||Based on baskets of different blue-chip stocks and US Dollar Index.|
|2 Metal Spot CFDs||Based on Gold and Silver.|
|3 Metal Futures||Based on Gold, Silver and Copper.|
|2 Energy Spot CFDs||Based on Crude Oil (WTI, Brent).|
|7 Energy Futures||Based on Crude Oil (WTI, Brent), Carbon Emissions, Gas Oil, Heating Oil, Natural Gas, US Unleaded Gasoline.|
|7 Soft Futures||Based on Coffee, Cocoa, Cotton, Sugar, Orange Juice, Soybean, Wheat.|
|6 Bond CFDs||Based on US, UK and German government securities.|
|10000+ Stock CFDs||Based on shares of US, UK and EU companies.|
|500+ ETF CFDs||Based on exchange-traded funds containing various tradable assets.|
|3 Interest Rate CFDs||Based on Euribor, Short Sterling, Swiss Euroswiss.|
Most of the Stocks and ETFs are available on the LCG Trader platform.
LCG is a veteran forex broker established as early as in 1996 and headquartered in the UK with an offshore brand registered in the Bahamas. The broker is regulated by both the UK’s Financial Conduct Authority (FCA) and the Securities Commission of the Bahamas (SCB), and accepts clients from most countries in the world.
What stands out the most about LCG compared to other forex brokers we have reviewed on FX-List is the massive number of trading instruments that it offers. In particular, the broker has a very strong selection of stock CFDs, with more than 10,000 such instruments listed in the US and Europe available for trading. In addition, hundreds of exchange-traded funds (ETFs), stock indices, commodities, bonds and even interest rates are also available.
All of the instruments offered by LCG can be traded on either the MetaTrader 4 (MT4) platform or LCG’s own platform known as LCG Trader. Among these, MT4 is already well-known among forex traders and probably does not need an introduction here. LCG Trader, on the other hand, is a little-known platform, although it does have some potential. The platform is entirely web-based, offers an advanced charting package for technical analysis, and has an easy-to-use interface that is intuitive enough for beginners while also being powerful enough for advanced traders.
The types of trading accounts users can choose between with LCG includes a standard CFD Trading account with a minimum deposit of USD 100, and an ECN (electronic communication network) account with tighter spreads but a minimum deposit of USD 10,000.
In addition to the two above-mentioned account types, LCG also offers an Islamic account with no swaps or interest on overnight positions for Muslim traders. This account can be requested by emailing the broker directly.
To fund new trading accounts, LCG clients can use either bank wire transfer, payments cards such as Visa, MasterCard and China UnionPay, or the e-wallet services Skrill and Neteller. All of the funding methods are processed free of charge by the broker, with the exception of credit card deposits which come with a 2% processing fee.
Unfortunately, this forex broker does not accept crypto deposits, even though it has a branch registered offshore that likely could have done so due to fewer regulations there.
To reach LCG, clients can use either live chat via the broker’s website, send an email, or call the broker’s customer support department directly between 05:00 and 22:00 UTC. It’s also great to see that LCG has a direct phone number clients can use to reach its dealing desk, something most other brokers do not offer.
In conclusion, we are of the impression that LCG is a solid forex and CFD broker that offers pretty much everything a trader will need. It has an impeccable selection of trading instruments, and we also like that it gives users the choice between trading on the MT4 and its own proprietary platform. Finally, we are impressed with the customer service and the fact that several direct phone numbers to the broker have been provided with clear working hours. All of this makes it easier to rely on LCG for clients, and it improves the broker’s credibility for those considering signing up as new clients in the future.