London Capital Group ("LCG") offers two trading platforms: LCG Trader and MT4. There's no reason to worry if you've never traded on them before as LCG has plenty of video tutorials on the website.
The introduction of this new, advanced online trading platform has been an important part of the restructuring and rebranding process that LCG went through during the past year. The platform, which comes in two versions, web (meaning no software download is necessary) and mobile app, packs a lot of powerful tools under its intuitive interface.
All the instruments available for trading are in the Market Tree window on the left. They are split into several categories, such as Popular Markets, Indices, Forex, Commodities and Shares grouped by geography. You can customize the Watchlist with the instruments you trade the most or want to keep an eye on by right clicking on them and then selecting add/remove. If you want to search for a specific instrument, you can easily do so by using the Find feature (both official names or nicknames such as Cable for GBP/USD work).
There are several toolbars within LCG trader that will be used frequently. Let's start with the first two situated at the top of the screen. On the left side, we have the Tools and Preferences menus. From the first one we can select the type of cursor, add to charts various items such as the Fibonacci paraphernalia, lines, objects (arrows, circles, stars), shapes or text. There is also the feature of setting a price alert (sound and email) - very important for traders that can't spend too much time in front of the charts. Under Preferences we can select from a large choice of languages, set up Quick Trade or choose one of the four layouts available for the platform.
On the right side, next to the Live Chat and My LCG functions, there are various buttons for switching the colour scheme, choosing font size or showing the keyboard shortcuts.
Within the chart area and next to it we can find a couple of toolbars with many charting related options. From here we can select the chart mode (free, single or multi), time-frame (from 1 minute to 1 month), chart type (6 available) and zoom feature. There are plenty of indicators that we can add, from moving averages and oscillators, to pivot points, fractals and Heikin Ashi. The colours of the chart background and of the objects added on it are highly customizable and we can also choose if we want to see orders on the chart, the ask or bid line, grid or period separators.
The easiest way to enter a trade is to right click either the instrument or the chart and select New Order. There is the option of entering a market order (best available price) or a pending order (wait for the market to reach a particular price level). Then we can select the size of the order, set a stop loss and a take profit and decide if we want to activate the 'Guaranteed Stop Loss' feature.
All open positions, pending orders and a history of all transactions including deposits and withdrawals can be seen in the trade watch window. Up to the minute fundamental news and technical analysis have been integrated in the platform and can be accessed via the News and Signals tabs.
Conclusion: LCG Trader is an intelligent and powerful platform for the dedicated trader. It comes with state of the art tools, world class, fully customizable charting package and integrated news and analyses ready to be viewed alongside your trading activity.
Note: Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved.
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