Oanda vs London Capital Group (LCG) - Fees Review included
Which broker is better Oanda or London Capital Group (LCG)? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. London Capital Group (LCG) is one of the top brokers in the financial market with the TU Overall Score of 4.85 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | London Capital Group (LCG) |
|---|---|---|
Overall |
4.4 |
2.9 |
5 |
4.3 |
|
4.5 |
4 |
|
3.5 |
3.1 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
2.9 |
Deposit and Withdrawal |
4.2 |
2.5 |
Research |
4.7 |
3.6 |
Education |
4.5 |
3.3 |
Support |
4.8 |
2.9 |
Bonuses |
4.6 |
2 |
|
|
Oanda vs London Capital Group (LCG): Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
The LCG broker is an international intermediary that started its business in 1996. Traders who have opened an account with LCG have access to 9 groups of trading assets, including: Forex, spot metals, stocks, indices, ETFs, CFDs, stock options, bonds, interest rates, and commodities. The minimum deposit requirements make trading with LCG affordable, and the use of innovations and high-quality service make it comfortable.
| Oanda | London Capital Group (LCG) | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Low minimum deposit requirements |
| Real-time news and fundamental analysis tools | A wide range of trading instruments | |
| localized and multilingual phone support | An information section with training and analytical materials | |
| User-friendly platform for new forex traders | Round-the-clock support service | |
| Outstanding research tools | No commission for funding the deposit and withdrawal funds | |
| Financial information publicly available | The possibility to trade from different devices such as a PC, tablet, or smartphone | |
| High educational value through written content and videos | The presence of Islamic accounts | |
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | The company does not provide offers for passive earnings such as copying services or bonus programs |
| Slow withdrawal of funds | The broker does not serve clients from certain countries | |
| Customer support doesn’t work on weekends |
Oanda vs London Capital Group (LCG): Safety and Regulation
| Regulated By: | Oanda | London Capital Group (LCG) |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
SCB (Securities Commission of the Bahamas) |
Oanda vs London Capital Group (LCG): Trading Conditions
| Trading Conditions | Oanda | London Capital Group (LCG) |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$10 |
Trading Platforms |
MT4, OANDA, TradingView |
MetaTrader 4, LCG Trader |
Max Leverage (Futures) |
1-50 |
1-500 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Currency pairs, indices, spot metals, stocks, commodities, CFDs, exchange traded options, ETFs, bonds and interest rates |
Trading assets |
120+ |
7000+ |
Trading Accounts |
Standard, Core, and Swap-free |
Classic, ECN, demo |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, GBP, EUR, and CHF |
Oanda vs London Capital Group (LCG): Fees
Forex Trading Fees
| Fee | Oanda | London Capital Group (LCG) |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
$0 |
ECN Account EUR Average Spread |
not offered |
0.4 pips |
CFD Trading Fees
| Fee | Oanda | London Capital Group (LCG) |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | London Capital Group (LCG) |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Credit card 2%, Debit Card 0%, other methods are comission-free |
Withdrawal Fee |
$20 - just for bank transfer |
No |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs London Capital Group (LCG): Trading Assets
| Asset Name | Oanda | London Capital Group (LCG) |
|---|---|---|
Overall |
120+trading assets |
7000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFDs) |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or London Capital Group (LCG): Investment Programs
| Asset Name | Oanda | London Capital Group (LCG) |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: London Capital Group (LCG) or Oanda
| Oanda | London Capital Group (LCG) | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
LCG Trader |
Others |
No |
No |
|
|
Oanda vs London Capital Group (LCG): Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | London Capital Group (LCG) |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
No |
Oanda vs London Capital Group (LCG): Research
| Research Type | Oanda | London Capital Group (LCG) |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs London Capital Group (LCG): Education
| Education Type | Oanda | London Capital Group (LCG) |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
London Capital Group (LCG) vs Oanda: Support
| Support Features | Oanda | London Capital Group (LCG) |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
Oanda vs London Capital Group (LCG): Forex Bonuses and Promo
| Promo | Oanda | London Capital Group (LCG) |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
The broker’s clients can earn additional income by referring new users to LCG. The company provides program participants with personal referral links and marketing materials, and you can track the activity of invited users from your personal account. The maximum payout is 800 USD. |
Other Promos |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on London Capital Group (LCG)
-
Comment
I've been thoroughly impressed with my experience using the LPGInvestments.com website. Not only have I found it user-friendly, but it has also delivered excellent results. With multiple successful withdrawals under my belt, I can attest to its reliability. Watching my investments thrive has been incredibly rewarding. Recently, I diversified my portfolio by adding Mineral Resources mining, and it's been an exciting journey to monitor its performance alongside my other assets. I confidently recommend LPG Investments to anyone seeking a platform for diverse and promising investment opportunities. I eagerly anticipate further growth in my portfolio as I continue to utilize this platform.
-
Comment
Despite the negative reviews, I work normally with LCG Group. Any situation can happen. For example, recently there was slippage when a stop loss was triggered by 10 pips. It’s not very pleasant, of course, but it doesn’t affect my trading much. I traded with another broker before and it wasn’t not very successful. Slippages were 35-50 pips there. This is already serious. Orders on the LCG Group platform are processed quickly, there are practically no requotes.
-
Comment
I had $4,000 in my London Capital Group account. Two weeks ago, I received a notification that access to my user account was blocked due to suspicions of money laundering, citing one of their policies. I asked to close open positions, but my request was ignored. Now I fear that there is almost nothing left of my deposit. Be careful when considering opening an account with London Capital Group.
-
Comment
LCG disappointed me as soon as I registered here. Actual conditions do not correspond to those promised on the website. When I asked support about that, they told me that the broker can change the conditions at its discretion, and their answer wasn’t polite. I think this is not normal. Therefore, I left the company.
-
Comment
Several times my stop loss did not work on the LCG platform. I wrote to support, but they didn’t solve anything. I definitely set the stop loss, but it is not in the history. Either LCG manipulates such situations, or there are bugs on the broker’s platform. I never trade without a stop loss; I always limit my risks.
Top 5 Reviews on Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!