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LIVE Traders - LCG -London Capital Group FX

  • #81
  • Feb 8, 2015 12:43pm Feb 8, 2015 12:43pm
Quoting MaximeCau
{quote} What broker are you going to ?
Baxter FX. You?
Forex is a losers game.
  • #82
  • Feb 8, 2015 12:47pm Feb 8, 2015 12:47pm
Quoting trader121
{quote} Baxter FX. You?
I prefer to stay in UK. I will try their MT4 since quotes are the same as Currenex.

But I think divisa.co.uk could be interesting if LCG MT isn't that good.
  • #83
  • Feb 8, 2015 3:17pm Feb 8, 2015 3:17pm
I have read quite a bit of Information regarding LCG and their FX offering (including this entire post).

So far I am happy enough with my findings that I am in talks to open a live account with them.

Here is some of the more pertinent Information I have received from the rep I am in contact with:


"London Capital Group is an FCA regulated firm. This means client money is segregated and insured for up to £50,000. It is also a publicly listed company meaning transparency for clients and others to see how the company is performing."

"We have been offering brokerage services since 2003, and the MT4 platform has been running here since 2005. However, we are now focussing on this platform. Hence the reduced spread and new offering of Premium Accounts."

"We currently offer a standard account and a premium account, based on the level of equity you hold and the volume of your trading."

"would be looking at providing you with a premium account. This account type will give you with wider access to institutional information and a personal Sales Trader who will be your point of contact if you need anything. They also provide daily updates and tailored information as well as execution services."

"our current latency varies between 10-100ms and there are never outages on the platform. "

"Outgoing transfers take 3-5 days, but you can request same day transfers at a £15 cost."

http://www.lcgmt.com/pricing.shtml Fee's spreads etc

Leverage:

Gold – 100:1
EURUSD – 300:1
(DOW)WS30 100:1

The only reservation's I have here is the very recent cash injection and current re structuring that has gone on at London Capital Group lately.

Other that that I feel they offer a quality product.

I would appreciate any Information or constructive comments regarding this broker.

It would be great to hear from some current or former clients.
  • #84
  • Feb 8, 2015 4:26pm Feb 8, 2015 4:26pm
I recently had opened an account with LCGMT because they offer CFDs as well and also because LCG is a well known brand in the FX industry. Last week I have also spoke with them on the phone and everything seems fine. This week I'm going to start trading the account. I'll keep you guys posted and share my experience with them.
  • #85
  • Feb 8, 2015 4:55pm Feb 8, 2015 4:55pm
Quoting triger88990
I recently had opened an account with LCGMT because they offer CFDs as well and also because LCG is a well known brand in the FX industry. Last week I have also spoke with them on the phone and everything seems fine. This week I'm going to start trading the account. I'll keep you guys posted and share my experience with them.
triger88990

Much appreciated I would like to hear how it turns out.
  • #86
  • Feb 11, 2015 7:04am Feb 11, 2015 7:04am
Interesting lcgfx.com now redirects to lcgmt.com.

​Maybe they don't except retails clients anymore.
  • #87
  • Feb 11, 2015 7:34am Feb 11, 2015 7:34am
Quoting SlideLow
Interesting lcgfx.com now redirects to lcgmt.com. ​Maybe they don't except retails clients anymore.
Apparently they have also sold their PriceMarkets brand to 2 other firms.
  • #88
  • Feb 11, 2015 8:20am Feb 11, 2015 8:20am
Quoting shrike
{quote} Apparently they have also sold their PriceMarkets brand to 2 other firms.
Could you please provide more info on the deal? I couldn't find anywhere, any kind of info on this one.

LCGFX redirects you to LCGMT, does this mean they are going to provide services only to retail clients?
  • #89
  • Feb 11, 2015 9:39am Feb 11, 2015 9:39am
Here is some old company info....

http://forexmagnates.com/lcg-q3-inte...r-looks-ahead/

They are probably now restructuring and trying to make some money since Alpari has left a gap in the market in the UK.
Not too great of results last year, a decrease in revenues by 30% from previous year.


Unheard of in the forex broker world.
  • #90
  • Feb 11, 2015 9:54am Feb 11, 2015 9:54am
Quoting mitch77
............................Unheard of in the forex broker world.
Are you kidding me? Maybe they are unheard-of in the retail world but they have been a reputable broker for many institutional clients and big money retail as well.

LCGFX had retail clients with 7 figures account. I know 1 guy who had few millions there, and that's the reason why I choose LCGMT
  • #91
  • Feb 11, 2015 10:27am Feb 11, 2015 10:27am
Quoting triger88990
{quote} Are you kidding me? Maybe they are unheard-of in the retail world but they have been a reputable broker for many institutional clients and big money retail as well. LCGFX had retail clients with 7 figures account. I know 1 guy who had few millions there, and that's the reason why I choose LCGMT
Good for you buddy! I was merely suggesting a reason as to why they are now focusing on the retail side of forex. ie they dont make as much money as in the past. No doubt you know more than me so my sincerest apologies.

The share price doesn't really reflect a growing institutional forex broker but shit what would I know.

I shall go back to my nano account.


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EDIT: Unheard of in the forex world means: never heard of a broker that doesn't increase profit year on year!
  • #92
  • Feb 11, 2015 11:22am Feb 11, 2015 11:22am
Quoting mitch77
{quote} Good for you buddy! I was merely suggesting a reason as to why they are now focusing on the retail side of forex. ie they dont make as much money as in the past. No doubt you know more than me so my sincerest apologies. The share price doesn't really reflect a growing institutional forex broker but shit what would I know.
Their share price might have dropped significantly but that is not entirely indicative of how they run their business even though they have gone through some period on restructuring. You really have to look on the whole fx industry as everyone was "hit" by the growth contraction.

Having said that I'm well aware of the negative side, but after doing some research they are the "best" solution I could came up, I only hope I'm not wrong on them. But this days is so hard to find a decent broker. Is it really so hard to ask for decent broker, I'm not asking for a perfect one, which is a utopia, but a decent broker?

I'm also concerned by the recent events and the fact that they might be dropping their institutional side of business.

Quoting mitch77
{quote} I shall go back to my nano account.
Really now, no need to get smart with me. I'm not a millionaire either.

Quoting mitch77
{quote} EDIT: Unheard of in the forex world means: never heard of a broker that doesn't increase profit year on year!
Well lets just wait for the end of 1st quarter of 2015 when brokers will post their revenues and their metrics. After the SNB event you will see that all those sh*tty bucket shop brokers will post some big profits.

Don't get me wrong I'm not saying bucket shops are all that bad as in many cases you're better off by using a bucket shop.
  • #93
  • Feb 11, 2015 11:27am Feb 11, 2015 11:27am
Quoting triger88990
{quote} Could you please provide more info on the deal? I couldn't find anywhere, any kind of info on this one. LCGFX redirects you to LCGMT, does this mean they are going to provide services only to retail clients?
I dont know anything more. Pricemarkets was a brand developed and owned by LCG until a few weeks ago. I dont know anything about the new owners and i would be reluctant to hand more than 50K (compensation limit) over.
  • #94
  • Feb 11, 2015 11:32am Feb 11, 2015 11:32am
Quoting triger88990
{quote} {quote} Well lets just wait for the end of 1st quarter of 2015 when brokers will post their revenues and their metrics.
Indeed, it certainly will be interesting
  • #95
  • Edited 1:03pm Feb 11, 2015 12:44pm | Edited 1:03pm
Quoting mitch77
Here is some old company info.... http://forexmagnates.com/lcg-q3-inte...r-looks-ahead/ They are probably now restructuring and trying to make some money since Alpari has left a gap in the market in the UK. Not too great of results last year, a decrease in revenues by 30% from previous year. Unheard of in the forex broker world.
They have increased their income recently.

http://leaprate.com/2015/01/london-c...t-2-year-high/

Charles-Henri Sabet bought the company 7 month ago and is restructuring and modernizing LCG. We can expect better income in the next coming month.

LCG MT has Currenex quotes and they are improving their execution : in the next coming weeks they will provide market execution.

Quoting triger88990
{quote}But this days is so hard to find a decent broker. Is it really so hard to ask for decent broker, I'm not asking for a perfect one, which is a utopia, but a decent broker?
MT4 is quite old and it seems to me that Dukascopy could be a better choice : the best spreads, lower commission than LCG MT (LCG MT : $50 per mio / Dukascopy : $35/$10 per mio, depending on the account size), better platform, same quotes for all clients, better risk management (look CHF event...), possibility to convert MT4 indicator to jforex platform very easily.
  • #96
  • Feb 12, 2015 5:57am Feb 12, 2015 5:57am
They've shut it down now, move on.
  • #97
  • Feb 13, 2015 12:15pm Feb 13, 2015 12:15pm
Quoting plotinus82
They've shut it down now, move on.

They have shut down just the institutional side of business, they will focus from here on the retail side.

http://forexmagnates.com/london-capi...d-website-mt4/
  • #98
  • Edited 8:34am Feb 26, 2015 8:13am | Edited 8:34am
I was shot kiwi this session and right before the US CPI release and other US data I decided to move my SL at BE+ (see figure attached) just in case we miss the figures I wanted to protected myself as if it would have broke higher I knew that something must have been wrong and didn't wanted to be in that trade anymore

Even thought I didn't incurred any loss on this event it's still bothering me as we have NEVER traded at that price, where I've moved my SL and yet my SL was triggered.

My entry price was at 0.7603 and moved my SL just below my entry point at 0.7600. During the news release first minute we got down and than we had a minor spike high at 0.75962 Bid - 0.75974 Ask . At any moment I haven't seen the spread bigger than 1.2 pips

Does anyone has a Reuters machine to confirm what was the higher price after the news release? On Dukascopy I have 0.75955.

This really pisses me off as it's another missed opportunity, right now, as I write I should have been +58pips in profits, and yet here I'm with no position.

What do you think, Do I have a case against LCGMT?

UPDATE: A friend has just confirmed me that on Reuters the highest price was .7594
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  • #99
  • Feb 26, 2015 9:55am Feb 26, 2015 9:55am
Lmax tickdata shows 96'1 / 01'2 for this spike.
5 pips doesnt sound excessive in kiwi during a news release.
And you wouldnt even have a "case" against LCG if it was 50 pips off. What does that even mean, do you want to take them to court over this?
  • #100
  • Feb 26, 2015 10:11am Feb 26, 2015 10:11am
INVESTING.COM has 0.7598.

You can't reproach anything for that, above all on news.
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