LCG - What a terrible company

[hodka]

I joined LCG, formally known as London Capital Group, back when it was called Capital Spreads a few years ago. I didn't really like their platform back then so I never really bothered using it for very long, plus their customer services was quite poor in dealing with emails.

Shortly after it became LCG I logged back into my account to see what their new platform was like and noticed I still had funds in there. I placed a few small trades on their new platform but again didn't really like it. I requested a withdrawal of funds from my account on the 18th Jun 2016. On the 28th Jul 2016 I got an email confirming my withdrawal has been unsuccessful. So basically it took them 41 days to contact me to confirm the withdrawal had failed. Having checked the bank account they hold on file, the details are correct so as far as I am concerned it can only be them at fault.

I have emailed them a few times to ask questions regarding my account, to which I have NEVER received any reply from them. What type of ignorant customer service is this?!?!?

Finally, today I got an email from a company called Spotware, who I've never heard of before. Within the email they have quoted my customer number which just happens to be the same as my LCG account number. There is also a statement attached to the email which shows I have a balance, again the same as my LCG account.

What a poor company this is, and I would certainly not recommend it to anyone.

 

[tomorton]

I've got them on trial as it were. My Capital Spreads account was migrated to LCG a few months back. Caps were very good to me at customer service. Their platform was very unfamiliar and to me its quirky. Haven't had any customer issues with them so far so prepared to wait and see what happens when put to the test.

 

[hodka]

I emailed them several times regarding different things, some months ago, some just a few days ago. No replies to any of them

 

[sminicooper]

I've got them on trial as it were. My Capital Spreads account was migrated to LCG a few months back. Caps were very good to me at customer service. Their platform was very unfamiliar and to me its quirky. Haven't had any customer issues with them so far so prepared to wait and see what happens when put to the test.

Similar situation here. Had a small balance with them which I had forgotten about and after a reminder from them, contacted customer services to arrange withdrawal since dormant account balances would be monthly debited after 6 months. Perfectly helpful at customer services and decided to leave on trial for 6 months at no cost.

I found their platform interface not as simple and intuitive as IG's, though this could well be due to unfamiliarity – I think with a little bit of practice it could be perfectly okay. Their selling point was that they have better spreads than IG (this appears to be the case on the small number of SP 500 instruments I've looked at) but their costs for guaranteed stops was greater – and now IG's are free if you don't exercise them (I don't know if LCG have equalled this).

I intend to do further testing by placing the same trade with both and see how I get on.