FAQsApply for an account If we are unable to electronically confirm your identity and address, we will require documentation in order to activate your account. If this is the case or if we require any additional information, we will send you an email with details of what we require. Click here to apply for an account. What type of account can I have? LCG offer deposit accounts, which mean that you can begin trading once you have deposited funds into your account. If you would like to hold an account in another currency (Sterling/US Dollar/Euro) or if you are interested in holding a corporate account, please contact our customer support team: support@lcgmt.com or +44 (0)20 7456 7681 . Can somebody else trade on my account?Yes, you can nominate a family member or friend by completing a Power of Attorney form. Please note that the Power of Attorney allows a nominated person to trade on the account however, they cannot credit or debit the account. Funding your account To calculate the minimum deposit required to open a trade, you will need to review the Minimum IMR information, which can be found on the Market Information ticket linked to each product. Please look at the Managing Account section of this document for more specific details on how to calculate your minimum deposit or refer to the online User Manual. Depositing Funds You can credit your account in a variety of ways which are detailed below. Please note that due to money laundering regulations enforced by the Financial Services Authority, we are unable to accept funds from any other source than the account holders own funds. Deposit money by Debit/Credit card We accept all major debit and credit cards. We do not accept American Express and some International visa Electron cards. As a credit card customer you should be aware of changes to the way some credit card companies charge for online trading transactions. These transactions, which have previously been treated in the same way as any other purchase, will be treated as cash advances by some credit card companies. Cash advances are usually subject to a higher rate of interest than standard transactions, so you should check the terms and conditions of your card carefully. Registering your card details After you have registered your card once, you will not need to re-register this card unless your card expires or it is inactive for over 12 months. Deposit money via Bank Transfer Some international transfers will incur a fee charged by your bank or ours. Any charges will come out of the amount that you transfer and therefore we will only credit your account with the funds that we receive. We cannot be held accountable for any bank charges. Our bank accounts are held at Barclays Bank, 1 Churchill Place, London, E14 5HP. The details of our bank accounts are below: To make a Deposit Account Name: London Capital Group T/ Please check the grid below for the relevant account number and IBAN.
Deposit Funds via cheque Unfortunately, we cannot accept banker's drafts. If you are going to deposit funds using a building society cheque and it does not have your name on the cheque, we will need to see a receipt stamped by the building society to say that the money from that cheque came from an account in your name. Cheques drawn on a bank outside of the UK can take up to 4-6 weeks to clear. Any commission charged by our bank, or yours, for processing an international cheque will come directly out of the funds from the cheque deposited and therefore only the funds credited to our bank account will be credited to your spread betting account. Are my funds deposited online securely? To improve the security of the card payments you make into your account and following industry standards, we operate Verified by Visa & MasterCard® SecureCodeTM for some card types. These schemes, known collectively as 3D Secure, are designed to improve the way that your card payments are authenticated and to reduce the likelihood of card fraud. If you have previously enrolled for these services with your bank and we require your card type to use 3D Secure, you will simply be prompted for your 3D Secure password when you next make a payment into your spread betting account. If you have not yet enrolled in Verified by Visa or MasterCard® SecureCodeTM, you may be prompted by your bank to enrol before a payment can be made. This will be done quickly and securely on your bank's website before seamlessly bringing you back to the payment page to continue with your transaction. Please be assured that when inputting your 3D Secure details you are communicating directly with your bank via a secure link. The information that you enter is not disclosed to London Capital Group. To complete your payment, you will be briefly redirected to a secure screen hosted by your card issuer. How do I arrange a refund?If you would like a refund from your account, please call us or email us advising us of the amount you wish to receive and confirming the last 4 digits of the card you would like us to refund. Our company policy states that any funds deposited must go back to the original source. For example, if you deposited funds using a card we would transfer your funds back to this card. Whilst we will action refunds as quickly as possible and normally the same business day, once the funds leave your account the banking system usually takes up to 3 - 5 working days to return the funds back into your bank account. In some rare cases the banking system might take longer to process your refund, so if this is the case please contact Customer Support. Please note that MasterCard do not accept refunds from gaming organisations. If you deposit funds using a MasterCard we will make refunds to a bank account in your name, or to the default bank account details registered on your account. It is possible that we may require proof of your Bank Account details to establish that the account is in your name. This should be in the form of an original bank statement dated within the last three months. The statement should include your name, account number and, for international clients, an IBAN or Swift Code. We may also need sight of the card in question via faxed or scanned documentation. If you are an international customer and you have used a MasterCard to credit your account or made an international transfer, there is a charge of £20 or the equivalent currency amount for refunds under £1000.00. For UK customers we would refund your money via BACS and this will take three working days with no charge. Please note that due to transaction costs, LCG reserve the right to refuse any refund under £50.00 (or the equivalent currency amount) unless you are closing your account. Please bear this in mind when requesting a refund. Making a Trade For guidance on how to trade using the MetaTrader 4 platform, please use our online User Manual. If you wish to trade by telephone, our dealing line is +44 (0)20 7456 7680 . If you have any problems or questions, you can call our Customer Support team on +44 (0)20 7456 7681 . Please refer to our Market Information for specific trading hours of individual products. What hours can I trade? We are open for trading from Sunday 24:00 until Friday 22:00, UK time. You can find a full, detailed list of all contract specifications if you click here to see our Market Information. What products do you offer?We offer a range of products including FX majors, Precious Metals, Oil and Soft commodities. You can find full details of the products we offer if you click here to see our Market Information. Contract sizes Closing a Trade Can I partially close my position?Yes, you can partially close a position. To do so double click on the trade which will be shown on the 'Trades' tab on the 'Terminal window'. When the order box opens up just change the volume to the correct size that you want to close then click on the yellow 'close' button. Managing Your Account How do I change my contact details?If a problem occurs on your account, it is important for us to be able to contact you. Please ensure that your email address is always up to date and, if necessary, please check to ensure that your inbox has not exceeded its limit. We send all contract notes via email and it is your responsibility to provide us with the correct contact details. Your contract notes are proof of the trades that you have made and if you have any kind of query we will ask you for copies of your contract notes. If you move house please send us either an original utility bill or bank statement that is dated within the last three months. Alternatively please send us a signed letter confirming your account number, your name and your new address and telephone contact details along with a copy of your passport or photo card driving licence so that we can verify your signature. How do I change my password?If you wish to change your password, please call us and we will conduct a security check to confirm your identity before amending your account details. I've forgotten my username/passwordIf you have forgotten your username or password, please call us or if you are unable to do so, please email us. We will send you some information that will remind you of your username or password. We are unable to send passwords via email for security reasons. How do I monitor my account?Log into your account and click on Account History. You will see details of the most recent closed trades you have conducted and details of any profit/loss. Will I receive a statement?You can view your statement online once you have logged into your account. Managing your Positions Examples: Long one contract ($100,000) EUR/USD @ 1.42356 Short one contract (1,000 barrels) WTI Crude Oil @ $75.06 Short one contract (EUR 100,000) EUR/JPY @ 127.455 Converting based currency trades Converting based currency trades Overnight financing Rollover represents the interest paid or earned for holding a position overnight. Each day at 22:00 London Time (Forex market change time) LCG will settle all FX positions by closing the trades at the current market rate and re-opening them at a rate which reflects the interest rate differential. For example, each trade in the case of Forex involves not only 2 different currencies, but their two different interest rates. If the interest rate on the currency you bought is higher than the interest rate of the currency you sold, this positive differential is taken into account. If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover. For a position held on a Friday or prior to a LCG non-business day, financing will be applied according to the number of days until the subsequent LCG business day. For example, for a position (held on Wednesday) rolled from a Friday to Monday, financing will be applied for 3 days. How is my account affected if I hold a Gold or Silver position overnight? Examples: Long one contract (100 ounces) Gold 1090.00 Your account will be charged $1.49 for financing. Short one contract (5,000 ounces) Silver 17.075 Your account will be credited $1.17 for financing. Expiry of Markets When does my position expire?Your position will never expire as long as you have sufficient funds to cover your margin requirements. Complaints Procedure Alternatively, you may write to us with your complaint to: Customer Support
Often problems may arise as a result of misunderstandings and can be easily resolved by our Customer Services staff. However, we recognise that there may be occasions when you feel that our service has not met your expectations and you wish to raise this with us more formally. In this case, please, contact our Compliance Department either by email, in writing or by telephone. Compliance Department
Telephone: +44 (0)20 7456 7000 If are not satisfied with our response, you are entitled to contact the Financial Ombudsman for an independent view. You can access the FOS Leaflet at http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm Financial Ombudsman Service They will provide you with a form to complete with details of your complaint. To be eligible for the service, you will need to submit details of the complaint within six months of the date of our final response to you. Please note that the Financial Ombudsman Service can only consider complaints, which we have not been able to resolve to your satisfaction through our own internal procedures. Software & Hardware Requirements
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Spread trading & CFD trading carry a high level of risk to your capital and you can lose more than your initial deposit. These products may not be suitable for all investors so seek independent advice. View full risk warning
