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LIVE Traders - LCG -London Capital Group FX

  • #1
  • First Post: Jan 19, 2010 4:21am Jan 19, 2010 4:21am
hi,

Anyone who trades FX with LCG -London Capital Group FX ?

I would be very interested to hear about your experience as I'm considering them as one of my option to move too.


If you could provide also how long you have been with them that would be greatly appreciated.
__Thanks__ MJ
  • #2
  • Edited 11:23pm Jan 26, 2010 8:35pm | Edited 11:23pm
I just look into a live LCG account（zero balance unable to trade），the spread and liquidity are almost the same with IB.
leverage 100. commission $15/M.
I think it will be a very good choice or try!
ps: I am a scalper ，spread & commission are the most important things for me.
  • #3
  • Jan 27, 2010 2:00pm Jan 27, 2010 2:00pm
Quoting good mind
I think it will be a very good choice or try!
I just had some email contact with them - but they have definitely some things I'm interested in:

EUROPE Based - offer quite a lot of platform connectivity - price seems to be also ok.

The only thing I really missed that I could not find much info about them anywhere?

For me it's still a bit too early to make any final decisions - but I'm in the process of testing with MB Trading first.

I got also info from Dukascopy that they expect to get their license 1Q 2010.


good mind, or anyone else,

If you have more info (like demo trading or even live) about LCG - I'm very interested to here of your experience.
__Thanks__ MJ
  • #4
  • Jan 27, 2010 3:07pm Jan 27, 2010 3:07pm
I am sure MBT a bad choice，for its GBP spread a huge disadvantages.
I have traded with IB for year，it is good ！
From the view of live account ，LCG has a little better spread in E/U,A/U,U/J，compared with IB.
I am thinking to give LCG a try，but not knowing its execution.
  • #5
  • Jan 27, 2010 4:19pm Jan 27, 2010 4:19pm
Any idea of the minimum deposit ammount?
  • #6
  • Feb 3, 2010 12:09pm Feb 3, 2010 12:09pm
I do not have any problems with LCGFX; I love the spread, commission and service.

Deposit is 50K, but Im sure you can negotiate that down...
  • #7
  • Feb 3, 2010 10:15pm Feb 3, 2010 10:15pm
According to the LCG 2008 annual report，there are only 400 institutional and professional clients .
Less clients maybe means better service，more professional.
LCG is running a spreadbetting firm，and they don't offer segregation account.
This is bad for a professional client.
  • #8
  • Edited 4:31am Feb 4, 2010 4:21am | Edited 4:31am
Quoting good mind
According to the LCG 2008 annual report，there are only 400 institutional and professional clients .
Less clients maybe means better service，more professional.
LCG is running a spreadbetting firm，and they don't offer segregation account.
This is bad for a professional client.
LCG is running more financial bussineses, one of them is indeed spreadbetting, next to true Interbank Spot Forex (tier 2 PB).

Their spreadbetting pro is good also, nice fast feed, good spreads...especially the Forex and no commission ofcourse. I just dont like the interface for scalping.
  • #9
  • Apr 22, 2010 5:46am Apr 22, 2010 5:46am
Quoting FlashCall
I do not have any problems with LCGFX; I love the spread, commission and service.

Deposit is 50K, but Im sure you can negotiate that down...

Well, my last info I got regarding initial deposit was: $ 20k per account.
__Thanks__ MJ
  • #10
  • May 19, 2010 8:01am May 19, 2010 8:01am
Quoting M_j
Well, my last info I got regarding initial deposit was: $ 20k per account.
An update.
I received this email today:

Trading on the LCG MetaTrader platform is commission FREE.
There is no minimum funding requirement (there must be sufficient funds to cover your IMR)

Best Regards
Glen
  • #11
  • May 19, 2010 8:16am May 19, 2010 8:16am
2nd update.

We take our FX price feeds from our own Currenex platform which has 16 major banks contributing prices.

We pride ourselves that we have an approachable MT4 dealing desk that has many years experience trading/broking in the products we provide and we feel that our customers benefit form using this experience in their trading decisions.

Best Regards
Glen
  • #12
  • May 19, 2010 8:40pm May 19, 2010 8:40pm
Anyone trading with these guys using MT4?
Are they reliable and serious?
  • #13
  • Edited 3:40pm May 24, 2010 3:24pm | Edited 3:40pm
Hi Darth Vader,

Thanks for your update.

>Trading on the LCG MetaTrader platform is commission FREE.

>We take our FX price feeds from our own Currenex platform which has 16 major banks contributing prices.

Putting this two together does not make much sense. If there is no commission I guess they must add to the spread for the metatrade 4 platform.
__Thanks__ MJ
  • #14
  • May 24, 2010 5:41pm May 24, 2010 5:41pm
Hi M_J

I have no doubt they are adding the spread.
Haven't got the change to test their MT4 demo yet.

There seems that nobody here is too enthusiastic with them

cheers
  • #15
  • May 24, 2010 5:53pm May 24, 2010 5:53pm
Taking price feeds from currenex doesnt mean jack. They dont say they send your order to currenex banks, they say they get their pricing from currenex. I could open a chopshop, get my feeds from currenex, and then bucket all the trades and stop hunt your pants off. marketing slickness is all that is.
  • #16
  • May 25, 2010 3:31am May 25, 2010 3:31am
Never do MT4 at any broker...
  • #17
  • May 26, 2010 8:20am May 26, 2010 8:20am
Quoting Darth Vader
Hi M_J

I have no doubt they are adding the spread.
Haven't got the change to test their MT4 demo yet.

There seems that nobody here is too enthusiastic with them

cheers
Hi Darth Vader,

I'm not sure if nobody here is too enthusiastic about LCG - but it seems to me that there are not so many people using them who come to such a forum.

I'm actually quite interested in them - but it seems to me a bit harder to get the necessary info - compared to other brokers who have all plainly on a web-page for easy access.
__Thanks__ MJ
  • #18
  • May 26, 2010 8:29am May 26, 2010 8:29am
Quoting M_j
Hi Darth Vader,

I'm not sure if nobody here is too enthusiastic about LCG - but it seems to me that there are not so many people using them who come to such a forum.

I'm actually quite interested in them - but it seems to me a bit harder to get the necessary info - compared to other brokers who have all plainly on a web-page for easy access.
HI M_j,

You are right about the info. The only way to research is sending emails to them, but they reply fast.
I just want reliable broker (who doesn't) with MT4.
  • #19
  • Jun 4, 2010 12:29am Jun 4, 2010 12:29am
Quoting ForexSooth
Taking price feeds from currenex doesnt mean jack. They dont say they send your order to currenex banks, they say they get their pricing from currenex. I could open a chopshop, get my feeds from currenex, and then bucket all the trades and stop hunt your pants off. marketing slickness is all that is.
That's basically what GoMarkets does, though they route the orders to an outside bucket, and I don't think they stop hunt.
  • #20
  • Jul 13, 2010 11:12am Jul 13, 2010 11:12am
Quoting M_j
Hi Darth Vader,

I'm not sure if nobody here is too enthusiastic about LCG - but it seems to me that there are not so many people using them who come to such a forum.

I'm actually quite interested in them - but it seems to me a bit harder to get the necessary info - compared to other brokers who have all plainly on a web-page for easy access.
Hi MJ,

I used their currenex platform last month, I've got no complaints about LCG. Their liquidity was quite good (I did receive some slippage of around a pip on some stops/market orders), spreads are low, $15 per million commission. I thought their service could have been better at times, but trading wise very good.

hope this helps
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