LIVE Traders - LCG -London Capital Group FX

any one have experience with SAUDI NATIONAL ARABIC BANK?

https://www.anb.com.sa/Forex/

http://www.tadawul.com.sa/wps/portal...ber=&isAnnual=

Lol that first website is a mess!

First trial: Fail:
Second trial: Gbpnzd: 1 lot - sell

But it is a national local bank with over 20 billion usd shareholder equity.

So? What has that got anything to do with forex trading?

trust
+ national big bank
true trading
my experience still in the beginning
does not worth mentioning.

Question is directed mainly to saudis here-- since this bank only accept saudi citizens.

So,

Does anyone have experience with LCG new MT4 offering. How reliable is it? Has anyone actual made withdraws form them, % of initial deposit. What is the fill like on 1m orders?

no minimum for initial deposit, but they charge 2% on Credit Card.
withdrawals are with no commission above 1500$
i have no issues with my orders

Have you mad any withdraws, profit on account/initial deposit? With your orders how big are they?

The 2% is steep.

Just checking out a demo with them. Spreads seems on the high side, but then again, no commissions.... Screenshot show demo trades opened friday. The swaps are very high!!!

Thnx,

Would like to see some live account info. However i don't think i will be going forward with them, that 2% is to high.

the swaps are high, but the spreads are definitely not.
Spreads are higher only on Asia time. they need to reduce the spread on GBPUSD and on the DAX.

i have not yet, but i don't think i will ever have a problem with withdrawals.

my orders are between 0.05 and 0.20 , make sure to ask for the micro account so you would be able to open trades below 0.10 ( same spreads nothing different )

Their spread on DAX is between 0.9 and 1.5 on my demo account, what about you (live account)?

Thank you.

the spread is 9 , only Asia time it's at 59

Yes, 9. (0.9)

Ok so spead is really good regarding others brokers.

Yup cannot complain about the spreads.
Oil at 3 cents and gold at 40 cents ... That's hard to beat.

Anyone here who can compare LCG to ActivTrades?
Both for FX and indices.

Have been testing LCG for almost 3 weeks now, so far so good.
Next week i will start a small live account with ActivTrades to try them out, one of those 2 will become my new broker.

LCG closed all my October Oil positions suddenly in the middle of the day and without roll over!!
so disappointing from a broker that is supposed to be regulated.

below the correspondences from newest to oldest:





Dear Mr Elshami,

Thank you for your email.

When you open a position in a futures market you are implicitly accepting the fact that the position will be closed upon the expiry date of the contract unless you contact us directly to request the position is rolled-over.

As a senior member of our Client Services department I can confirm that the closures of your positions are correct and we will not be able to credit back any losses realised through these trades.

We appreciate that you may have previously been contacted by other brokers prior to the expiry of a futures contract, however it is not our policy to do this and it is also not something that we are obliged to do.

If you have any further questions please do not hesitate to contact us.


Kind Regards



Tom Price

Customer Support
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What do you mean correctly closed? You can never close a customer's position without notification.
You excuse to not notify customers of the rollover is weak, you cannot ask every Relationship manager to send emails to their customers!!
Rollover should be automatic without me asking to do so, that has been the case with all previous brokers i dealt with. Not once ever that my oil positions got closed from any broker.
Omar, I want this email to be escalated to senior management. And i will not compromise on refunding my loss of $266.
Awaiting your response at the earliest.
Ahmed.

------------------------------------ -----------

Dear Mr Elshami,

Thank you for your email.

Unfortunately we will be unable to take any retrospective action or credit funds back to your account as these positions were all correctly closed as a result of the contract you were trading expiring.

Please note that if you choose to trade a futures contract it is your sole responsibility as the client to ensure you are aware of the expiry date of that contract.

We are able to roll any positions into the subsequent month/quarter contract if you request this before the expiry, however LCG are not able to contact individual clients to advise of the imminent expiry of their positions.

If you have any further questions please do not hesitate to contact us.


Kind Regards



Tom Price

Customer Support
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Dear omar,
As discussed, my oil positions were suddenly closed in loss of approx. USD266/-
Kindly arrange to credit back the amount in loss as i was not willing to close my positions in addition i was not warned about contract expiry to adopt hedging technique and avoid closing of all my positions.

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If you don't know the rules, don't trade.