LCG Capital Markets Limited (additional trade name “FlowBroker”) is wholly owned by FlowBank SA, a Swiss Regulated entity until June 13, 2024. On that date, the Swiss Financial Market Supervisory Authority (FINMA) opened bankruptcy proceedings against FlowBank SA. FINMA appointed Walder Wyss SA, succursale de Genève, 14 rue du Rhône, P.O Box, 1211 Geneva 3 as bankruptcy liquidators (the Liquidators). The place of jurisdiction for the bankruptcy is FlowBank SA head office in Geneva. This has effectively stopped FlowBank SA operations.
LCG Capital Markets Limited maintains funds with accounts at FlowBank SA. Due to significant agreements between LCG Capital Markets Limited and FlowBank SA, the appointment of the Liquidators has currently made it impossible for LCG Capital Markets Limited to carry out its operations.
We draw reference to section 25 of our Terms and Conditions, which provides as follows:
FORCE MAJEURE EVENTS We may, in our reasonable opinion, determine that an emergency or an exceptional market condition exists which may prevent us from performing any or all of our obligations (a Force Majeure Event). Following the occurrence of a Force Majeure Event, we will inform BHS (ourselves) and take reasonable steps to inform you.
Force Majeure Events includes the following events: (i) any act, event or occurrence (including any strike, riot or civil commotion, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our reasonable opinion, prevents us from maintaining an orderly market in one or more of the indices/markets in respect of which we ordinarily accept transactions;
At the time of this writing, LCG Capital Markets Limited has engaged the Liquidators. We will update you as more information becomes available to us. For any additional inquiries, clients can continue to contact Customer Support at Email: customerservices.bhs@lcg.com.
We sincerely apologize for the inconvenience this has caused.
Understand the risks involved
Contracts for Difference (CFDs) are leveraged financial derivative products that allow traders to speculate on the rising or falling prices of global financial markets, such as shares, indices, commodities without owning the underlying product. Due to the high risk nature of leveraged financial products, it is possible that losses can exceed your initial deposit.
At LCG we place a strong emphasis on education, to help you understand the risks involved and help you make informed trading decisions.
If you are new to trading you have the option to open an LCG demo account to learn the basics and practice trading risk-free.
About Leverage
CFDs are a leveraged product, meaning you can gain exposure to the markets by depositing just a percentage of the full value of the trade you wish to place.
However, leverage works both ways. This means that while you could make a potential profit if the market moves in your favour, if the market moves against you, your losses can be magnified and you could just as easily lose more than your deposit.
If you are new to trading leveraged products you have the option to open a free LCG demo account to accustom yourself to the prospect of leveraged trading.
Effective use of risk management
Proper risk management is essential to trading. Whether you are new to trading or an experienced trader, the importance of risk management should not be underestimated. Below are some important factors to consider when it comes to risk and money management:
When trading CFDs with LCG, you have access to a full range of risk management tools. This may assist you to effectively manage your risk exposure and cap your losses, before you have even placed the actual trade.