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LIVE Traders - LCG -London Capital Group FX

  • #101
  • Feb 26, 2015 10:27am Feb 26, 2015 10:27am
Quoting shrike
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?
I think it will be really ridiculous for a court case, I was trying to say that it's an unfair practice since I never saw their quote stream hit that price and yet my order was triggered. Also the point is that on all other major trading venues we didn't trade that high, even on Reuters the high was 0.7594.
  • #102
  • Feb 26, 2015 10:36am Feb 26, 2015 10:36am
During news, bid and ask quotes can be quite different.
  • #103
  • Feb 26, 2015 10:48am Feb 26, 2015 10:48am
Quoting MaximeCau
During news, bid and ask quotes can be quite different.
I understand that. The ask price never went past 0.7597 as I was watching the tick chart during the whole time, and that's why I find it weird that my order was triggered.
  • #104
  • Feb 26, 2015 10:59am Feb 26, 2015 10:59am
You should contact their support team for more explanations, they are very friendly. Compare charts : they are the same, your stop was too tight I think.
  • #105
  • Mar 19, 2015 12:37pm Mar 19, 2015 12:37pm
Any thoughts/experiences here about LCG since they went only for retail clients and MT4?
How would they compare against let us say Dukascopy or Lmax for deposits up to 100k/200k?
  • #106
  • Apr 8, 2015 3:47am Apr 8, 2015 3:47am
I'm wondering the same. Do we have a trustworthy MT4 broker in LCG?
  • #107
  • Apr 8, 2015 4:11am Apr 8, 2015 4:11am
Quoting Dkam
Any thoughts/experiences here about LCG since they went only for retail clients and MT4? How would they compare against let us say Dukascopy or Lmax for deposits up to 100k/200k?
I wouldn't trust their MT4 no matter what they say. If I go with LCG, I would only go for their PoP accounts and nothing less. I could've opened an MT4 account with any broker that has less starting capital and higher leverage. WHY would I go with LCG for that?
Make your losses in demo. Earn your profits live.
  • #108
  • Apr 8, 2015 5:57am Apr 8, 2015 5:57am
Quoting Forexia
{quote} I wouldn't trust their MT4 no matter what they say. If I go with LCG, I would only go for their PoP accounts and nothing less. I could've opened an MT4 account with any broker that has less starting capital and higher leverage. WHY would I go with LCG for that?
If you google LCG only their new MT4 site comes up in the search results. I think that perhaps they have done away with the PoP accounts and their previous websites.

http://www.londoncapitalgroup.com/
  • #109
  • Apr 8, 2015 3:59pm Apr 8, 2015 3:59pm
Quoting mitch77
{quote} If you google LCG only their new MT4 site comes up in the search results. I think that perhaps they have done away with the PoP accounts and their previous websites. http://www.londoncapitalgroup.com/
OMG!!! Another broker gone to the dark side! Looks like they have become Oanda, one of those NDD market makers or at best become one of those Australian pretend STP/ECN brokers at best.

So now who's left as pure ECN brokers? Interactive Brokers, LMAX, Baxter-FX? And now there is three. This is sad.
Make your losses in demo. Earn your profits live.
  • #110
  • Apr 8, 2015 4:27pm Apr 8, 2015 4:27pm
Quoting Forexia
{quote} OMG!!! Another broker gone to the dark side! Looks like they have become Oanda, one of those NDD market makers or at best become one of those Australian pretend STP/ECN brokers at best. So now who's left as pure ECN brokers? Interactive Brokers, LMAX, Baxter-FX? And now there is three. This is sad.

Lmax is not an ECN broker.

And what's the problem with a broker like LCG? I mean, LCG takes trade for us and so what? What I want to know as a client is if my broker is able to handle its risk. That's all.

Better to trade with a good ECN than a broker which offers a poor liquidity's pool right?
  • #111
  • Apr 8, 2015 4:35pm Apr 8, 2015 4:35pm
Quoting Unabletrader
{quote} Lmax is not an ECN broker.
Well they are actually better. They are an exchange between the traders and the banks and the non-banks.
Make your losses in demo. Earn your profits live.
  • #112
  • Apr 8, 2015 4:39pm Apr 8, 2015 4:39pm
Quoting Forexia
{quote} Well they are actually better. They are an exchange between the traders and the banks and the non-banks.
Yes, so therefore they're not an ECN broker.

Would you prefer to trade with a poor liquidity pool or a broker which can manage its risk properly (by having a good LP's network)? I'm not saying that the Xchange provided by LMAX isn't good but there is nothing wrong about being an ECN broker in itself.
  • #113
  • Apr 8, 2015 5:05pm Apr 8, 2015 5:05pm
Quoting Unabletrader
{quote} Yes, so therefore they're not an ECN broker. Would you prefer to trade with a poor liquidity pool or a broker which can manage its risk properly (by having a good LP's network)? I'm not saying that the Xchange provided by LMAX isn't good but there is nothing wrong about being an ECN broker in itself.
What's the difference between ECN and exchange? To me there is no difference but exchange is a step-up from ECN. ECN stands for Electronic Communication Network where all the LP's are all connected to but if you have an exchange where everybody not just the LP's, but all the hedge funds, institutions, traders are ALL connected to and trade with each other, isn't that the ultimate ECN? Isn't that a step-up? So how can you have an exchange where everybody is connected to have poorer liquidity than an ECN where just the banks are connected to?

And secondly, if the ECN is just comprised of LP's which are those banks and no one else and they are the ones that are taking the other side of your transactions, then wouldn't you be trading with a market maker that in this case are just the banks? Then all of those dirty manipulations that those retail market makers do, requotes, last look, delay execution, price feed freezing, wouldn't you be vulnerable to those same manipulations if you trade on an "ECN" controlled exclusively by those banks?

Just my opinion.
Make your losses in demo. Earn your profits live.
  • #114
  • Apr 9, 2015 1:33am Apr 9, 2015 1:33am
Given that you will eventually always trade against someone, be it a LP a broker or other traders, it is not necessary that important which solution for matching trades that are chosen. I would have no problem trading with a market maker, if I could trust them not to play tricks on my fills. So, is there anyone to trust? Is it prudent to trust LCG with up to 100k?
  • #115
  • Apr 9, 2015 8:45pm Apr 9, 2015 8:45pm
Quoting pd9000
if I could trust them not to play tricks on my fills. So, is there anyone to trust?
EXACTLY! The issue is TRUST. Do you TRUST those banks to not play tricks when their profit is depending on your loss just like those retail bucketshop MM's? I don't because size does not matter when it comes to conflict of interest. If the retail MM brokers play dirty tricks sure would those banks. At least when you are trading on an exchange, you will be trading with other players who don't or don't have the capacity to last look, requote, delay quotes and etc. This is the essence of ECN or exchange in that it diversifies the source for trade matching and with multiple sources competing for orders, it eliminates or at least reduces the possibility of unfair dealing.
Make your losses in demo. Earn your profits live.
  • #116
  • Apr 10, 2015 1:17am Apr 10, 2015 1:17am
Of course you can trust LCG.
  • #117
  • Apr 10, 2015 1:24pm Apr 10, 2015 1:24pm
Quoting Unabletrader
Of course you can trust LCG.
You only need to invest $25K to open a PoP account when it was available and it is regulated by FCA one of the most respectable financial regulator in the world still despite its many biases and flaws and your funds is covered under the FSCS in case of any adverse situation, so YES I would trust LCG. I would invest with LCG over a tiny five-man bucketshop market maker with flashy bonuses but would never let you withdraw your money and is regulated in a country that is rampant with corruption.
Make your losses in demo. Earn your profits live.
  • #118
  • Apr 12, 2015 5:48am Apr 12, 2015 5:48am
I deal heavily with LCG when they were still big on give-up flow.

Their liquidity is impeccable, probably the best in market.

It would be my no.1 MT4 broker if anyone wishes to know why, it is because that they have tier 1 spreads from all LPs and PB. PB with Citi and have a whole host of technology to house the spreads.

Provides research to retail guys, I get them now too, extract below:

· [endif]FX

EURUSD

UBS: ‘We remain moderately bearish EUR/USD, though at current levels we don't think risk-reward is especially compelling in either direction. Our longer-term forecast is a bit more constructive, with a year-end 2017 forecast of 1.15.’
LCG: ‘Will Greece hold its promise to pay 450 million euro due to the IMF? The answer to this question will determine the short-term direction in the EUR-complex. ’

Market price 1.0841
Bearish below 1.0900
Preferred case: resistance at 1.0900, drop expected to 1.0780, max 1.0725.
Alternative case: if 1.0090 surpassed, rise to 1.0950, max 1.1050.

USDJPY

LCG: ‘The BoJ refrained from adding further stimulus in the first monetary policy meeting this month. We do not expect any surprise on April 30th as faster depreciation of yen is not the BoJ’s motivation at the current levels. The significant narrowing in Japan’s trade deficit, and the expansion of Japan’s current account surplus in February are encouraging, yet JPY-positive news. The USDJPY is seen range-bound with the daily Ichimoku cloud (118.35/93) as good daily support.’

Market price 119.91
Neutral between 118.10 and 120.60/80.
In case of bullish surpassing, rise expected to 122.80
In case of bearish breaking, drop expected to 116.30/115.75.

LCG gives you enough resources to notice the meaningful things into the markets. Because realistically if anyone wants to trade properly the first step is to read bank strategy notes to understand what "macro" is instead of short-term volatility trading or charts.
  • #119
  • Apr 29, 2015 6:14am Apr 29, 2015 6:14am
hi, anyone noticed they have removed the commission on mt4 platform.....and increased the spreads! Ive noticed the GA EA EJ GJ has almost doubled in spread...whereas they were approx 2pips now they are 4-5pips.....Very disappointing as this mean increased trade costs....

I called them and they advised they have had same feedback from many others traders and are looking into revising the spreads over the next couple of weeks...they advised they will call me once a decision is made. Will keep all posted.

Anyone recommend other good ECN/STP UK brokers please with better spreads? Many thanks..
  • #120
  • Apr 29, 2015 8:13am Apr 29, 2015 8:13am
Quoting rtradern
hi, anyone noticed they have removed the commission on mt4 platform.....and increased the spreads! Ive noticed the GA EA EJ GJ has almost doubled in spread...whereas they were approx 2pips now they are 4-5pips.....Very disappointing as this mean increased trade costs.... I called them and they advised they have had same feedback from many others traders and are looking into revising the spreads over the next couple of weeks...they advised they will call me once a decision is made. Will keep all posted. Anyone recommend other good ECN/STP UK brokers...
What about EU and GU pls?
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