Hello Everyone.
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. On first of october 2015 ( 5 days ago) LCG widened the spread 112 pips ( i don't think any other broker will ever do to you no matter how volatile the market is ) and i lost 40% of my account. My strategy had nothing to do with it, We calculate the risk always and we had same price orders with other brokers same market conditions and same time but we made profit with them. The guy who started with 100k also lost more than 30k and the other client i know lost 75% of his account.
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 ?
firstly who will widen the spread to more than 100 pips ?
London Capital Group reported huge losses couple of weeks ago and i think now they are trying to recover the losses by stealing money from their clients.