Information Letter to the clients of LCG Capital Markets Limited (a.k.a. “FlowBroker”)

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:

We sincerely apologize for the inconvenience this has caused.

CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

How do financial markets work?

The five important elements to understand how financial markets work are market structure, market participants, liquidity, pricing and the spread.

How do financial markets work?

Market Structure

Financial markets are typically sub-divided into various categories based on the kind of instrument that is being traded. Futures markets, for example, started as a place to trade commodities like oil, metals and agriculture but now include stock indices like the Dow Jones Industrial Average, FTSE 100 and DAX.

The foreign exchange market, the largest and most liquid in the world, is where investors trade global currencies and is open for trading 24 hours per day, 5 days per week. Finally, through equity and debt markets, investors can trade assets including individual company shares, options and government bonds.

Market Participants

The financial markets consist of various participants including governments and central banks, major global banks, hedge funds and retail traders, each of which has a different motive for trading. These motives can range from speculation on the markets to hedging business risk. For example, the corporate treasurer at a global company might be hedging currency exposure on foreign transactions, like the acquisition of equipment or a sale to an overseas customer. A central bank, meanwhile, may be purchasing a currency to top up its reserves.

Professional market participants are typically split into the ‘buy side’ and ‘sell side’. The buy side is made up of hedge funds and pension funds. Their goal is to make a return for their investors and partners by investing funds in the market. The supply side is dominated by the major global banks, whose job is to facilitate the trading of investors.

Retail traders are typically non-professionals who are trading with their own capital in order to make a return on their investment. They gain access to the market through online brokers and may trade full-time or part-time to supplement their main income.

Liquidity and Pricing

Market liquidity is directly correlated to the volume of trades taking place at any given time. High liquidity means that an investor can place their trade easily at the desired price and indicates there is a high number of matching trades to be paired with. Low liquidity, meanwhile, means that trading volume is low and it will be difficult to match an investor’s transaction with that of another.


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