London Capital Group (LCG) has announced its financial trading update with revenues and income falling due to a decrease in trading volumes. LCG is blaming the shortfall on the third quarter’s low volatility. As a result, the broker reported a loss during the third quarter and has announced that it has begun to apply cost cutting actions to mitigate the losses. The firm also reported that besides the negative quarter, it remains well capitalized with net cash resources of £21.5m.
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