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I am trading with LCG for more than a year already. LCG has good reputation with more than 20 years, fast execusion and great customer services. Whenever I have any questions about my account or trading, I get the direct and clear information. Targeting, stop hunting to the highest degree, from this ”leading” scam company! I opened an account there, and sent them my documents – a passport and statement from credit card. I said that I do not speak English.
Then he laughed at me and told me to send two other documents. The same my documents I sent more than 100 companies. Everywhere me verified with no problems. I sent other two my documents in LCG. LCG is public listed and FCA regulated. I agree Sam comments, they have wider the 100 pips spread during Non Farm Payroll. Please dont open account with them.
For those open account with them. London Capital Group was trading well, until last week, 2nd Oct during US NFP result. The spread went over 60 pips spread widen on my account. I had emailed LCG regard this spread widening. I got a call from LCG shortly and this guy were telling me, I am trading on a real market condition and what they provide me was the “best available price” and my order got filled. My EA was the one that closed the order, so it’s inevitable that I loss money in my account.
But I emphasize to him about the spread, over 60 pips! Eventually he said he will email me regarding this trade. I had other brokers with live accounts, and didn’t encounter 60 over pips of spread widening. London Capital Group is the worst broker i have ever traded with.
I opened up a account with them couple of weeks ago and fortunatly i decided to test them before i deposit huge amount of money. I started the account with around 8k and one of the guy i know started with 100k. I can provide proof and if any of you are thinking to trade with LCG please make sure you read it. 112 pips spread is unacceptable, They stole our money and not helping any of their clients other than telling them that they received that price to fill the orders. So we lose our hard earned money and their answer is that its disappointing but we will have to accept it. So does that mean that if spread goes to 1000 they will fill our orders blow up our account and tell us its disappointing but we will have to accept it ? London Capital Group, aka LCG, refuses to withdrawal my money because my previous bank account has been closed.
Now, after 1 year and a half, I have opened another bank account and they are trying to scam me. Mr Jonay De La Vega Herrero wrote me “it is our obligation to comply with international anti-money laundering guidelines given by our regulator” and also wrote “Please note that this is already stated in the Terms and Conditions you agreed to when you opened your account. Please follow the link below and look at section 8. Where bank accounts have been closed we may require a letter from the originating bank stating that the account has been closed and there are no funds owing to the bank. Before we will refund to a new bank account we may require sight of the original deposit transfer statement from the closed account and sight of an original new bank account statement. So, they may require, but now it’s a must. So, be aware from them and stay far away especially if you change or want to change bank account.