LCG – what we know and have as facts about it; LCG is a trade name of London Capital Group, which is authorized and regulated by the Financial Conduct Authority (FCA) under the license number 182110. In addition, LCG (CYPRUS) Limited (LCG CY) is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 341/17. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Order Execution Policy document that LCG will always act as principal in respect of client transactions, and therefore may seek to act as market maker and may choose whether to hedge any/part or all of the risk in the underlying market for all account types. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about delayed and refused withdrawals, poor customer support, unprocessed deposits, unfounded allegations of illegal actions – scalping, unjustified termination of accounts, false price quotes, improper execution of profitable transactions at different prices and unjustified execution of stop loss orders.
So far, we have not received any complaints from customers of LCG. If you have any criticism to share with us or feel annoyed by LCG, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and LCG if you wish.
https://www.forexpeacearmy.com/forex-reviews/35/lcg-forex-brokers
LCG Bahamas are a ruddy nightmare. I was blocked access to make a withdrawal for a very long time without any notice whatsoever. Finally after complaining to different branches I was reconnected so that I could make a withdrawal. I made a withdrawal and that has been pending for a week now with many promises that it will be sent but then it is never sent. Just for your own peace of mind go to their website here https://www.lcg.com/int/ and if you can find their number, call it and ask who you are speaking to. Nobody there will EVER give you there name. If that alone is not dodgy enough, try withdrawing your money. A friend is filing a police report this coming Monday. He has confirmation that his first deposit of 1400 pounds ( much smaller than my withdrawal request) went to their account 14 days ago but they will not put it in to his account and every time he asks them to confirm if they have it or not their answer is always. the same. I cannot comment on that? The money arrived in their account two weeks ago. This beyond frustrating this is why he will be filing a police report on Monday morning for what appears to be clear case of attempted fraud. If you would like to know their reply, please just ask.