LCG Fees and Spreads
LCG Fees and Spreads
Regarding LCG Fees Spreads and commissions start from $45 per $1,000,000 traded with spreads from 0.0 pips.
LCG has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which starts from 0.0 pips along with commissions charged from $45 per $1,000,000 traded when using the ECN Account.
LCG trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:
- Classic Account – no minimum deposit required, leverage of up to 1:30 for EU traders and up to 1:500 for all others, spreads that start from 1.45 on EUR/USD, and commissions are not charged.
- ECN Account – required minimum account balance of $10,000 to be maintained at all times, spreads from 0.0 pips and $45 commissions per $1,000,000 traded, leverage depends on the financial instrument and jurisdiction.
LCD does not require a minimum deposit when opening a Classic Account, but to qualify for an ECN Account, the trader must have a maintained $10,000 account balance.
Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.
Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.
LCG offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law.
LCG does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.
LCG does not charge any withdrawal fees but deposit fees of 2% will be charged when using Credit Cards to deposit funds.
There is no mention of whether LCG waives any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management, traders will have to verify this with the broker before opening an account.
Traders are advised to ensure that there are no fees waived by their payment provider in terms of depositing funds from their bank account to their trading account in addition to transaction costs when withdrawing funds and having it transferred to their bank account.
Pros and Cons
|1. Tight and competitive spreads||1. None noted|
|2. No minimum deposit|
|3. Fixed commissions on trades|
|4. Low commissions when compared to other brokers|
How many instruments can I trade with LCG?
You can trade the following instruments:
- Spot Metals
- Bonds and Interest Rates
- Vanilla Options, and
Which platforms are supported by LCG?
LCG provides the following popular trading platforms:
- MetaTrader 4
- LCG Trader
Does LCG offer leverage?
Traders in EU areas qualify for leverage of up to 1:30 when trading Forex while traders residing in other countries have access to leverage of up to 1:500 depending on the financial instrument being traded.
What spreads can I expect with LCG?
Spreads from as little as 0.0 pips when using the ECN Account.
Does LCG charge commission?
Commissions are charged at $45 per $1,000,000 traded while using the ECN Account.
Is LCG regulated?
Yes, LCG is regulated by the highly reputed FCA in the UK, and CySEC in Cyprus.
Is LCG a recommended forex trading broker for experts and beginners?
Yes, LCG is suitable for both beginner and expert traders.
What is the overall rating out of 10 for LCG?