LCCFX--Some Important Points about This Broker

General Information & Regulation

LCCFX is a forex broker, targeting primarily Chinese clients. The company has bold regulatory claims, but our research found them to be misleading. This is the main reason for the negative score which you see above. Check out the full review for all the info. We have to mention, the company's non-Chinese versions of the website weren‘t operating at the time of writing. While the modern automated translators are powerful, we may have missed a few details.LCCFX is supposedly based in London, while having offices across Asia. The company isn’t affiliated with the Financial Conduct Authority (FCA), which would have brought them a lot of credibility. LCCFX is registered with the NFA, as an EXEMPT Commodity Pool Operator and Trading Advisor. We arent that familiar with the exact nature of this status, but it surely has nothing to do with that of the highly regulated companies (as the name suggests).

Market Instruments

LCCFX offers trading of currencies, indices, CFDs and commodities.

Account & Leverage

LCCFX offers a single standard account for traders with more classic leverage ratio 1:100, which is suitable for most trading styles. On top of that, it makes calculating the margin requirements before you enter a position a lot easier. Still, be sure to fully understand the risks involved with margin trading before starting out. No minimum deposit is disclosed

Spreads & Commissions

They offer spreads of about 1.8 pips +, with a 50% Commission.

Trading Platform Available

LCC FOREX use MetaTrader4 (MT4) which is a proven trading platform, prefered by brokers and traders alike. Its clear charting, automated trading environment and support for multiple platforms (desktop, web and mobile) are among the reasons for its success.

Deposit & Withdrawal

The deposit and withdrawal methods at LCCFX are tailored to the Chinese market. They include Wire Transfer, Credit Card, Western Union and China UnionPay.

Conclusion

Many reviews shows that LCCFX is an unregulated forex broker, claiming to be operating out of London and being registered with the US NFA. As we described above the regulatory claims aren‘t accurate, as the company is exempt from the organization. The actual trading conditions offered aren’t impressive, with the incredibly high spreads. Also the official website associated to this broker couldn't be found when trying to visit the website https://www.lccforex.com/pc/index.html . It shows that the domain name has finished. Therefore we cannot find other information about the Broker like customer support services , account types, minimum deposit and others.