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LGtrading

Marshall Islands|2-5 years|
White label MT4|Chinese market only|High potential risk|

https://www.lgtrading.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

3
Server Name
Birbades-Demo01 MT4
Server Location Hong Kong

Contact

https://www.lgtrading.com/en/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Birbades Limited

Company Abbreviation

LGtrading

Platform registered country and region

Marshall Islands

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-04-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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LGtrading · Company Summary

Lgtrading Review Summary in 10 Points
Founded 2-5 years
Registered Country/Region Marshall Islands
Regulation Offshore Marshall Islands FSA regulated
Market Instruments Forex, Indices, Stocks, ETFs, Commodities, Crypto
Demo Account Available
Leverage Up to 1:200
EUR/USD Spread Starting from 0.7 pips
Trading Platforms MT4
Minimum Deposit USD 250
Customer Support Contact us form, address

What is Lgtrading?

Lgtrading, an international brokerage firm with its home base in the Marshall Islands, offers its clients a wide array of financial instruments. These include Forex, Indices, Stocks, ETFs, Commodities, and Cryptocurrencies. However, it's essential to note that this firm currently operates without valid regulatory oversight. Such an arrangement raises questions about its legitimacy and overall trustworthiness.

Lgtrading's homepage

In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.

Pros & Cons

Pros Cons
• Multiple instruments • Unregulated
• MT4 platform • Limited customer support
• Demo account available • Limited info on deposit/withdrawal
• Not accept clients from our certain areas
• Overnight fees charged

Pros:

Multiple Instruments: LGtrading provides a diverse range of trading instruments covering Forex, Indices, Stocks, ETFs, Commodities, and Cryptocurrencies. This allows traders to diversify their portfolio across different asset classes as per their trading preferences.

MT4 Platform: LGtrading provides the popular MetaTrader 4 (MT4) platform which is renowned for its advanced trading features, user-friendly interface, and compatibility across various operating systems, including Windows, iOS, and Android.

Demo Account: LGtrading also offers a demo account, which allows new users to practice their trading strategies without risking any real money before they trade on the live market.

Cons:

Unregulated: As an unregulated broker, there are concerns regarding compliance with standard industry practices and the protection of client interests.

Limited Customer Support: LGtrading primarily offers customer support through a 'Contact Us' form. As such, immediate customer support or a variety of service channels are not readily available, which could inconvenience users with urgent inquiries or issues.

Limited Information on Deposit/Withdrawals: The lack of detailed information about their deposit and withdrawal procedures/time/fees could lead to confusion and uncertainty.

Restricted Clientele: LGtrading does not accept clients from certain areas, which limits its accessibility to traders worldwide.

Overnight Fees Charged: LGtrading charges overnight fees but doesnt provide specific details, adding another potential cost to consider when trading.

Is Lgtrading Safe or Scam?

When considering the safety of a brokerage like Lgtrading or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: Presently, this broker operates devoid of any legitimate regulatory supervision, which indeed casts doubts on its authenticity and dependability.

No license
  • User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedbacks from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.

  • Security measures: Lgtrading enforces a privacy policy to protect user information, enhancing security and boosting confidence in its platform.

Ultimately, the decision to trade with Lgtrading resides with the individual. It is recommended to carefully weigh risks and returns before engaging in any substantial trading activities.

Market Instruments

LGtrading presents its clients with a wide variety of financial instruments for trading.

The service offers over 100 currency pairs, including Dollar-Yen, Euro-Yen, and Pound-Yen, providing access to the world's largest market.

They also offer trading for various global indices like the US 30, Japan 225 (yen), and Germany 30 to broaden investment options.

Commodity trading is another instrument, offering daily price variations on popular commodities such as gold, crude oil, and coffee.

For those interested in stocks, LGtrading provides the opportunity to invest in globally recognized brands such as Apple, Mitsubishi UFJ, Tesla, SoftBank, and Toyota in CFD formats, with leverage up to 1:20 and competitive spreads.

LGtrading also offers various Listed Investment Trusts (ETFs) in CFD formats and allows for investment in cryptocurrency CFDs, including popular coins such as Bitcoin, Litecoin, and Ripple.

Market Instruments

Accounts

Lgtrading offers two types of accounts for its users: a demo account and a live account. The Demo account allows potential traders to get a feel of the broker's platform and practice their strategies risk-free using virtual money. The Live account, on the other hand, involves using real money for trading.

However, the specific details about the minimum deposit are not currently available and prospective traders should directly check with the broker for this fundamental information before signing up.

How to Open an Account?

Opening an account with Lgtrading involves several steps:

Opening an account with Lgtrading involves a series of steps, as outlined below:

Step 1: Visit the Lgtrading official website.

Step 2: Click the “Open a Free Account” button.

Click the Open a Free Account“ button

Step 3: Fill in the registration form with the necessary personal and financial information and click “Open a Trading Account”button.

fill in required info

Step 4: Successfully pass any verification process set out by Lgtrading.

Step 5: Once the account is verified and opened, check with the broker about the minimum deposit for the chosen account type.

Step 6: Finally, make the required deposit and your account should be ready for trading.

Leverage

Lgtrading offers an impressive leverage of up to 1:200. Leverage is a key feature in trading as it allows traders to open positions larger than their initial investment. With a 1:200 leverage, traders can control a position worth 200 times their original stake. While leveraging can potentially magnify profits, it can also amplify losses. Therefore, it's crucial for traders to understand and manage the associated risks effectively.

Leverage

Spreads & Commissions

LGtrading boasts of offering competitive spreads, starting from 0.7 pips, which can greatly enhance the trading experience by reducing transaction costs.

However, there is currently no available information regarding the commission structure of the broker. The broker did indicate on their website that it does not charge any fees for the settlement of orders for free transactions. However, details related to commissions form a significant aspect of trading costs, thus should ideally be confirmed directly with the broker before initiating any trading activities.

Trading Platforms

Lgtrading provides its clients with the MetaTrader 4 (MT4) platform, which is recognized for its advanced trading features and user-friendly interface. The platform is available on a variety of operating systems, including Windows for desktop users, and iOS and Android for those who prefer to trade on their smartphones. This ensures that users can manage their trading activities conveniently, regardless of their device or location.

Trading Platforms

Fees

While it's mentioned that there are overnight charges associated with Lgtrading, no specific details are currently provided. Prospective traders should reach out directly to the broker for clarification on this matter. Understanding the exact rates and conditions that apply to these overnight fees is crucial for effective trading strategy planning and budgeting.

Customer Service

Lgtrading's customer support approach appears to be somewhat limited as it primarily involves the use of a 'Contact Us' form. Individuals seeking assistance will have to fill out this form with their inquiries or concerns which the broker's team will subsequently address via email or phone.

It's important for clients to consider this factor when choosing this broker as immediate or diverse customer support options are not be readily available.

Contact Form

Conclusion

To summarize, Lgtrading is a globally recognized online trading platform, situated in the Marshall Islands. It offers a diverse portfolio of trading instruments, including Forex, Indices, Stocks, ETFs, Commodities, and Cryptocurrencies. However, the platform's unregulated status could induce uncertainty about Lgtrading's adherence to regulatory compliance and its commitment to guarding client interests.

Therefore, potential investors are encouraged to explore and consider other trading platforms that commit to high-level transparency, strict regulatory compliance, and professional conduct.

Frequently Asked Questions (FAQs)

Q 1: Is Lgtrading regulated?
A 1: No. The broker operates with no valid regulatory oversight currently.
Q 2: Is Lgtrading a good broker for beginners?
A 2: No. It is not a good choice for beginners because its not regulated by any recognized authority.
Q 3: Does Lgtrading offer demo accounts?
A 3: Yes.
Q 4: At Lgtrading, are there any regional restrictions for traders?
A 4: Yes, LGtrading does not offer services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria, North Korea and Iran.
Q 5: Does Lgtrading offer the industry leading MT4 & MT5?
A 5: Yes, it offers MT4 on Windows, iOS, Android devices.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

User Reviews

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Comments

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小芦
more than one year
LGtrading is pretty dope. They've got a wide range of trading assets that caught my attention right off the bat. But what really sealed the deal for me was the competitive spreads and no margin call policy. Ain't nobody got time for unexpected fees and charges, amirite? Overall, I'm really satisfied with this trading platform. Keep up the good work, LGtrading!
2023-03-28 21:51
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0
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FX1295918082
more than one year
LGtrading is an unlicensed broker from an offshore area, which I would not recommend other people to use this broker. During my trading here, stop-loss did not work at all and spreads reached up to 100 pips frequently. My withdrawals also took a long time.
2023-03-03 11:08
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