1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

London Capital Group (LCG) - Spread Ripoff!

Discussion in 'Scam Alerts' started by Alex Dale, Oct 5, 2015.

  1. Alex Dale

    Alex Dale Recruit

    Joined:
    Oct 5, 2015
    Messages:
    1
    Likes Received:
    0
    The typical spreads during the news at other brokers with ECN, STP did not exceed 15 pips on 2015.10.02 13:30:01. The 121 pips spread that LCG reported and cost us our entire account is abusive, irresponsible and neglectful. We will file this with ombudsman and publicize it on social media. You can find the evidence attached. LCG should not be in business ripping off customers.


    Broker
    LCG2.
    Spread on 2015.10.02 13:30:01

    ActivTrades 4

    Tickmill 7.3

    One Trade 7.7

    fxopen 8.9

    FXDD 12.6

    IC Markets 13.7

    OANDA 15

    LCG 121.0!
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,657
    Likes Received:
    2,205
    That looks suspiciously like a large news event.
     
    5SSFX likes this.
  3. Consolidated

    Consolidated Recruit

    Joined:
    Oct 6, 2015
    Messages:
    1
    Likes Received:
    0
    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.
     
    #3 Consolidated, Oct 6, 2015
    Lasted edited by : Oct 6, 2015
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,657
    Likes Received:
    2,205
    Are you two connected somehow (other than both experiencing this spread event)? If not, separate threads is a good idea.

    I suggest first contacting the broker to discuss the situation. If they don't want to provide a satisfactory answer via email, then a review and a Scam Alerts thread would be next. If that doesn't help, then invite them to come and join the Scam Alerts thread.
     
  5. Bogdan Busecan

    Bogdan Busecan Recruit

    Joined:
    Nov 11, 2015
    Messages:
    1
    Likes Received:
    0
    Hy,

    I'm a scalper as you and till last NFP report my accounts was better that I could imagine. I trade news on AAAFX, the execution is pretty good and after 6 mouths from date of registration it's almost nothing that I can do to find out what is going wrong.

    Right now during every news event the order are placed on the top of movement (Buy case) and on the bottom movement (Sell case).

    I met this situation a mouth after singnin up but than I realized the secret is to reopen a new account mouthly. But right now I've created 20 accounts and the execution it's the same.

    Please contact me to share more information.

    Kind regards!
     
  6. oberheimer

    oberheimer Recruit

    Joined:
    Aug 15, 2016
    Messages:
    1
    Likes Received:
    0
    Oh thats really bad but how can 112 pips be 40% loss in the account?
    112 pips is about 5% or less in my account.
     

Share This Page