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London Capital Trade (LCT) Review - is it scam or safe?

London Capital Trade (LCT) Review - is londoncapitaltrade.com scam or good forex broker?

RATING: 1 / 2 REVIEWS London Capital Trade (LCT)
London Capital Trade (LCT) is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread
Micro  $250 1:200 3.6 pips
Silver  $100 000 1:200 N/A
Personal  $500 000 1:200 N/A
VIP  $1 000 000 1:200 N/A

 

London Capital Trade (LCT) is an unregulated Russian forex broker offering the above account types. In our opinion, there are far better options than LCT Read the full review to get all the essentials regarding this broker and why we don’t recommend investing with it.

 


London Capital Trade Advantages

 

Wide range of tradeable assets

There are a number of currency pairs available for trade on London Capital Trade`s platform, as well as CFDs on indices, commodities, spot metals, energies, popular shares, bonds and cryptocurrencies. Yet, if you are a crypto-enthusiast, we would advise you to deal with a well-regulated broker that offers Bitcoin CFDs.

 


>> Trade Bitcoin with a reliable forex broker <<

 

 

Up to 1:200 in leverage

Other than LCT’s diversified product portfolio, the broker offers good leverage, up to 1:200. Such a ratio is enough to accommodate almost all trading styles. And yet, you should remember that higher leverage is also associated with greater risk. That is why the use of leverage is restricted for retail clients in many jurisdictions. Most recently, the European Securities and Markets Authority (ESMA) capped the maximum leverage allowed with forex transactions to 1:30.

 


London Capital Trade Disadvantages

 

Not regulated

The main issue regarding London Capital Trade is its regulation status. There are two companies featured on LCT’s website: London Capital Trade LTD, regarding which there is no further information, as well as the Russian ОБЩЕСТВО С ОГРАНИЧЕННОЙ ОТВЕТСТВЕННОСТЬЮ "СПЕЦИАЛЬНЫЕ КОМПЬЮТЕРНЫЕ СИСТЕМЫ". The latter is not among the brokers licensed by the Russian financial mega-regulator, the Central Bank of Russia. The same company is present on the websites of brokerage brands Prime X Club and PrimaryCrypto.

 

As the broker does not mention anything about regulation, we can safely conclude that LCT is not licensed, nor regulated by any financial authority. And proper regulation is the single most important factor for the safety of any investment in the trading world.

 

Spreads not announced on website, high ones on the platform 

As LCT’s website is not very informative and free testing service is not available either, we had to open a real account (without depositing any money) in order to get a glimpse of the spreads and leverage levels available.

 


Click for a larger view.

 

Actually, the spreads we saw on the broker’s platform are far from attractive, the benchmark EUR/USD spread was floating around 3.6 pips. The majority of brokerages provide spreads that are considerably lower, and you can see the offers of some of the best below.

 

 

>> Real-time spread comparison <<

 

 

MetaQuotes software not supported

Unlike most forex brokers, LCT uses a web-based platform that is oversimplified and lacking many advanced features other trading terminals offer. Surely, many investors will miss the MetaTrader 4 or MetaTrader 5 platforms, which are the most popular ones in the industry. If you are one of the many fans of the MT4 software, check out the link below.

 

 

>>  Wanna trade with a MT4 broker? <<

 

 

Conclusion

 

London Capital Trade (LCT) is a forex and CFD broker that appears to have its origins in Russia, but nonetheless seems to illegally target EU investors. There are contact numbers in UK and Italy on its website, which is available in English and Italian, however the broker is not authorized to provide financial services in Europe, nor on any other regulated market.

 

Most such brokers are involved in some sort of investment scam, so, as always, we advise our readers to deal only with tightly regulated brokers. For example, those licensed by the United Kingdom’s Financial Conduct Authority (FCA), have to comply with a number of requirements. Some of these include frequent reports on client activity, segregation of clients’ funds, provision of negative balance protection, etc. In other words, financial regulation in the UK provides significant guarantees for the safety of your investment, that is why it is so important.

 

 

>>Trusted, FCA regulated brokers<<

 

 

To sum up the above in a few words:

 

Pros Cons
Wide range of tradeable assets Not regulated
Solid leverage Spreads not announced on website, high ones on the platform
  No MetaTrader

 

Latest news about London Capital Trade (LCT)
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Traders` reviews for London Capital Trade (LCT)

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

London Capital Trade - Truffa

Mi hanno chiesto un versamento molto elevato e nonostante che le operazioni sono solo positive con un forte utile non restituiscono nulla anzi vogliono sempre piu soldi

Fraud

They asked me for a very high payment and despite the fact that the operations are only positive with a strong profit, they do not return anything, in fact they always want more money.

Manzini Roberto 06/26/2019

ti inducano a perdere sugli investimenti fatti per poi non ridarti più i soldi investiti

si spacciano per una società inglese ma dall'estratto conto i soldi prelevati sulla carta di credito sono finiti a BAKU capitale dell'
AZERBAIGIAN

Translated by Google:

they cause you to lose on the investments made so as not to give you back the money invested

they pretend to be an English company but from the statement the money withdrawn on the credit card ended up in BAKU capital of the
AZERBAIJAN

Parroni Italo 05/18/2019
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