London Capital Group (LCG), founded in 1996, has continued to keep pace in the highly competitive online brokerage space. The company’s latest rebranding effort occurred in 2016 with the launch of LCG Trader.
This, coupled with the ubiquitous MT4 (downloadable) platform and a functional mobile application, comprises LCG’s entire online offering to the consumer. LCG provides access to a broad selection of CFDs and spread betting instruments across several different asset classes. Like most others on this list, LCG does not accept U.S. traders.
As one of the major U.K.-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience. The firm’s fees are competitive within the industry and it ranks high on our list for customer service. With these positive attributes along with its apparent focus on functional simplicity, LCG is well-suited to beginning traders.
Aside from rating highly overall, the company is ranked as the winner for AskPaccosi’s Best Forex Broker for Beginners in 2020. Although you certainly don’t have to be a beginner to benefit from its offerings, LCG is hard to beat if you are just starting out.
Pros
- Emphasis on customer service
- Regulated by FCA (U.K.)
- Offers protection for client accounts
- Account and trading incentives available
Cons
- Website maintenance substandard
- Does not accept U.S. clients
- Differences between LCG trader and MT4
- No back-testing or automated trading capabilities
