LCG CFD Broker Review
LCG CFD Broker Review – Overview
LCG, which used be known as London Capital Group, and before that Capital Spreads, is an established broker that could best be described as a solid all rounder. They have decent, but not great spreads across board and a good range of products available to trade. They have been around for the best part of two decades and have solid experience in this market. They are FCA regulated and quoted on the London Stock Exchange, so their safety is pretty much assured. Their proprietary platform ‘LCG Trader’ is pretty good and they have just made recent upgrades (Jan 2017) to the front end. It isn’t as pretty as some of their rivals, but it has everything you are likely to need. Their MT4 option is very strong with low spreads and a large product offering – if you are looking to trade CFDs on MT4 then LCG is a great place to start.
LCG CFD Broker Review – Products and Spreads
As an established brand you would expect a good breadth of products and LCG delivers, and with decent spreads too. 7 of the 10 goods in our basket were available and unless you are looking quite exotic or small-cap then you can expect to find your target market on LCG. Forex appears to be their strongest area, which is not surprising given it is the largest retail market and they were one of the earliest players. Their indices and equities breadth is ok but not the best on the market.
Their spreads in the CFD world are decent, though let down by some anomalies, such as a 7 pip spread on Brent Crude Oil. In Forex, however, they have very good spreads. They don’t appear to have any abnormal markets where you get hammered with one weirdly terrible spread in one currency pair and they are generally low across the board. At 1.1 pips attainable as the CFD spread on EUR/USD they are about average for that most commonly traded pair.
LCG CFD Broker Review – Interface and Platforms
The LCG Trader platform is good and improving. Its key strenght is in layout and usability. It is very simple to navigate around and the configuration options are decent. It just doesn’t look quite as swish as some of the main rivals. It is about average for looks and slightly higher for usability. You can customise the colouring to suit your tastes, so if LCG brand turquoise isn’t your thing, then you can change that up no problem!
With the recent platform update adding an economic calendar and a full analytics package to an already bountiful selection of draw tools and indicators, they now have a very comprehensive package. If a powerful and clearly laid out front end is important to you, then LCG have you covered.
On top of the quality of their own platform, LCG have also put their hand in their pocket and paid for an MT4 licence, so all your EA jockeys out there won’t have to give up making money in your sleep!
LCG CFD Broker Review – Service
LCG have the right balance of 24 hour availability of customer service twinned with a lack of pressuring sales calls when you first open the account. You are unlikely to be pressed into depositing by a well meaning young guy or girl over the phone. If, however, you need to call them to resolve a query then LCG will answer promptly, even in the middle of the night. Awake at 3am trying to work out the difference between margin and leverage? Give LCG a call! (And then get a life…)
LCG CFD Broker Review – Safety
They are an FCA regulated company, listed on the London Stock Exchange and with offices in London – this is the triumvirate of things to look out for when assessing whether you want to hand over your capital to a spread betting firm. Barring anything unusual they should be a safe choice.
LCG CFD Broker Review – Conclusion
LCG have made big strides in the last year with their platform, and although you pay a small premium over CFD brokers with the lowest spreads, you are getting a premium service and product. Their platform is very clean and very powerful, their product range is large and their customer service is second to none. You can also trade on MT4 if you so wish, meaning that LCG really do have something for everyone.