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July 17, 2018

LCG (London Capital Group), MT4 Trading Conditions Change by ESMA's new regulation

The European Securities and Markets Authority (ESMA) announced its decision to implement intervention measures.

LCG (London Capital Group) - What's now?

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The European Securities and Markets Authority (ESMA) announced its decision to implement intervention measures which include a limit on the amount of leverage that can be offered to retail traders, a 50% margin close-out rule, and negative balance protection.

The ESMA deadline for the implementation of these changes is the 1st of August 2018.

LCG would like to notify its clients that the new measures will take effect on their accounts during the weekend of July 28th – 29th.

Please note that the above mentioned restrictions will not be applicable for professional clients.

How will my trading be affected?

The main difference you will experience is an increase in margin requirements on any positions opened from the market open on July 29th onwards.

Please see the table below for details of the ESMA changes.

The margins of existing open positions will not be affected.
Asset class Maximum leverage from July 29th
Major FX – currency pairs containing any two of the following: USD, EUR, JPY, GBP, CAD, CHF 30:1
Minor FX – all other currency pairs 20:1
Major indices – UK 100 , Wall Street, Germany 30, US 500, US Tech 100, EU Stocks, France 40, Japan 225, Australia 200, US Dollar Index 20:1
Minor indices – all other indices 10:1
Gold 20:1
Commodities – Silver 10:1
Shares 5:1

MT4 trading accounts on LCG-Live2 server

MT4 account numbers between 5000000-5999999

Please read carefully how this implementation might affect your account and the steps you may need to take:

  • If you do not have open positions after the market close on the 27th you do not need to take any action, your account will remain as is with your pending orders intact, however, new positions opened after the market open on the 29th will be subject to the new margins.
  • If you have open positions after the market close on the 27th July and wish to hold them, your account will be placed in a close-only mode (meaning, you will only be able to close any open positions and you will not be able to open any new positions on this account after the July 29th market open). Additionally, any pending orders still resting at the time will be cancelled, except for Take Profit & Stop Loss orders.
  • If you wish to keep your existing positions open after the 29th of July and continue trading, you will need to open a new trading account for any new orders, which will be subject to the revised margins. You can quickly open a new trading account by logging in to your MyLCG page and selecting the Add Account option.

MT4 trading accounts on LCG-Live1 server

MT4 account numbers between 100000-299999 and 10000000-19999999

Please read carefully how this implementation might affect your account and the steps you may need to take:

  • Any pending orders still resting after market close on the 27th July will be cancelled, except for Take Profit & Stop Loss orders.
  • All trading accounts will be placed in close-only mode (meaning, you will only be able to close existing open positions, should you have any, and you will not be able to open any new positions on this account.
  • To continue trading you will need to open a new trading account and through MyLCG transfer any existing funds to it. You can quickly open a new trading account by logging in to your MyLCG page and selecting the Add Account option.

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