Witnessing the excessive participation of people worldwide in crypto trading, there is a crucial need for an advanced and user-friendly exchange brokerage firm. LMAX is the most experienced and advanced UK forex broker operational in the UK and regulated by FCA. The platform offers users over 100 tradable assets through its multilateral trading facility (MTF), which can be used for investment in precious metals, indices, commodities, Forex trading, etc. The Sunday Times awarded LMAX to hold the top rank among the fastest-growing fintech companies in the UK in 2014. LMAX offers a seamless and highly secure trading ecosystem for both institutional and individual investors worldwide. Read our detailed LMAX review to know more about the broker.
|Forex, Metals, Commodities
|Minimum Initial Deposit
|$10,000 & varies with Countries
|MetaTrader 4 (MT4)
|MetaTrader 5 (MT5)
|Depends on Trading Activities
|USD, EUR, GBP, AUD, JPY & More
|24/7 Support via Email, Phone, & Live Chat
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
What Is LMAX?
LMAX Global is owned and operated by a global fintech company LMAX Group. It was established in 2010 to provide advanced best forex brokers UK service’s to the emerging generation of investors and traders. LMAX has its headquarters in the UK and gives traders exclusive access to deep forex liquidity, transparent spreads, and secure execution, abstracting the possibility of any ‘last look’ rejections. The LMAX broker has made a respected name for itself by being infallible and trustworthy for over a decade.
The LMAX is one of the fastest-growing financial corporations in the UK that has left its mark in FX markets worldwide. The broker has been awarded many times for its consistent efforts in liberalizing and sophisticating the trading experience. LMAX Group has also been awarded the “Best Execution Venue” for 2022 by the Finance Magnates. The awards were presented to the best-performing firms in their categories and announced at the annual summit in London, and LMAX has three global market facilities based in Equinix LD4, NY4, and TY3.
How Does LMAX Work?
The LMAX broker works efficiently and remarkably innovatively to offer users real-time market feeds, advanced trading charts, professional tools, and precise execution. Every participant, like banks, proprietary institutions, brokerages, etc., can make profits. The trading platform gives traders exclusive access to MTF and global institutional FX exchanges to aid them in executing profitable trades by using the limit order liquidity provided by top-level international banks and Non-banking corporations.
The LMAX platform has live market feeds in London, New York, and Tokyo, where the customers get liquidity access and quality execution of trades in a highly secure environment. LMAX boasts of ultra-low latency and transparent rates for buying & selling while maintaining a tight spread limit. The time protocol of the platform works on the sub-second level to induce accuracy in trade execution. Consistency of order processing is maintained by running dye traces on execution pathways every ten milliseconds.
Features of LMAX
According to the LMAX reviews, the broker provides the following features for its users:-
- An outstanding feature of LMAX is that it provides a demo account for new users to let them have some prior trading experience. The users can test the markets and make new strategies negating any losses in actual trading time.
- Another extraordinary feature of the LMAX broker is that it offers tight spreads on deep institutional liquidity by comparing many prominent liquidity pools worldwide.
- The platform provides multiple accounts for the traders depending on their investment portfolio, namely API, WebTrader, and Mobile Trader.
- The LMAX platform also offers its clients an additional opportunity to earn extra profits by using its API trading feature. This feature helps clients in opening new trades in FX and CFD automatically.
- Another exclusive feature of the platform is that It offers users over 100 instruments for trading platforms like Forex brokers, Metal, equity indices, commodities, crypto CFDs, etc.
- The price/time mechanism offered by the platform is unmatchable in its segment as the client gets priority during trade execution.
- Competent traders are taken good care of by the platform as they get the function of Margin trading options on using LMAX.
- A completely regulated and secure LMAX Digital trading platform is available for trading, and it can be accessed on multiple devices like laptops, mobiles, tablets, etc, which has also been awarded Best Crypto Trading Platform in the Financial News Excellence in Trading & Tech Awards in 2022.
- The ultra-low latency matching engine feature comes in handy while opening trade during the rush hours of the forex world.
- Additionally, the LMAX group offers educational features like an economic calendar and LMAX blog that can enhance the trading environment and also the skills of investors. Many tutorials are also available on the platform.
- As per the LMAX review, various advanced tools like Multicharts, global insights, etc., are also available on the platform. These tools enrich the experience of trading and aid investors in making calculated investments.
- LMAX group offers a dedicated customer support section to tackle the encumbrances faced by users while using trading services. One can contact the customer support team via telephone, live chat function, or mail.
Is LMAX Regulated?
LMAX works under the legal name of LMAX Global, which is licensed and governed by the Financial Conduct Authority as an exchange broker and payment institution. The institution is genuinely registered in England and Wales. Moreover, in Europe and New Zealand, the platform is registered under the legal recognition of LMAX Broker Europe Limited and LMAX New Zealand Limited, respectively. As per the LMAX review, the platform works in full compliance with rules and regulations established by the concerned countries.
LMAX Review: Pros and Cons
|Regulated and highly secure platform.
|Users get limited types of trading accounts.
|Over 100 assets are available on this trading platform.
|Limited deposit methods.
|Customers’ funds are provided a premium level of safety.
|More preferable for competent traders.
|Highly advanced and innovative MetaTrader platforms.
|Minimum required deposit of $10,000.
|Demo account for new traders.
|Fee mechanism based on trade volume.
|Extraordinarily competent spread algorithm.
|Presence in almost all over the world.
Creating an Account With LMAX
As per many forex reviews, the process of creating an account on LMAX is straightforward and straightforward. Access the platform on any device and apply for a new account. Next, choose the country, fill in other mandatory information and submit it. The users must verify their identity and country of residence before their account is opened. Once the account is opened, further documentation like proof of funds will facilitate trading activities.
Multiple platforms are made available by the platform for users based on their investment portfolio, users can choose as per their requirements. As per the reviews, different types of trading accounts are mentioned below:-
LMAX has a user-friendly mobile app that enhances the experience of the trading app and is easily accessible by android and IOS users. The customers get ultra-fast trading facilities, FX trading market data, and the latest updates of the finance world at the touch of their hands. An additional VWAP feature gives users real-time access to all LMAX liquidity pools and over 20 levels of market depth for all tradable assets.
LMAX offers a customer-friendly, easily navigated website that provides users direct access to the live feed of all LMAX Global markets worldwide. The users can trade anonymously and efficiently without having to download anything on their devices.
Application Programming Interface technology aids the trading in automating FX trading and CFD trading that can provide them free access to live markets of LMAX Global. The users also get a risk-free demo account for practice.
These types of platforms are most suitable for forex brokers. The accounts are loaded with advanced tools, live price feeds, and an updated news section.
LMAX Trading Tools
The LMAX Global offers an economic calendar on its platform that provides complete information about financial events and their consequences happening around the world.
Global FX Insights
The users can access exclusive market research analytics and valuable insights of experts daily in audio/video/report format.
The fee structure of the LMAX broker is not fixed and depends on trading activities done by the customers. Generally, fee charges range from 0.1 to 0.2 pips. There is no deposit/withdrawal fee on LMAX, but to ensure the continued participation of the customer, the platform levies $50 per month on inactive accounts. Their spread mechanism is updated regularly and depends on prevailing market conditions. LMAX Fees spreads and commissions are not fixed but determined by trading activity; the typical spreads are between 0.1 to 0.2 pips. The spreading mechanism of the platform differs from the location of the customer.
If the trading executes deals in time-limited assets, they have to pay an additional fee for holding the position after the time limit. The LMAX charges an overnight fee, also known as rollover/swap fee, for the trades opened for more than a day. Get a detailed idea about its fee structure.
LMAX Deposit and Withdrawal Methods
UK: Bank transfer and debit/credit card
EU: Bank transfer
NZ: Bank transfer, debit/credit card, Skrill and Neteller
The withdrawals are made in the same way the funds are added to the account.
LMAX Accepted Payment Methods
Bank transfer, debit/credit card, Skrill, and Neteller
LMAX Supported Currencies and Countries
- UK: EUR, USD, GBP, AUD, CHF, JPY, PLN, SEK, SGD, HKD, and HUF.
- EU: GBP, EUR, USD.
- NZ: AUD, EUR, GBP, and USD.
Over 100 countries and multiple mega-offices in the UK, US, EU, and the Asia Pacific.
As per our LMAX review, it offers a wide range of educational videos and articles related to foreign exchange and crypto exchange trading. These articles and videos are pretty helpful for the users to improve their knowledge and skills required to execute profitable trades. The video library also contains various speeches given by CEO David Mercer. Furthermore, a dedicated FAQ section is also provided on the platform, which helps customers navigate the platform. Most common issues and queries faced by the traders are answered in this FAQ section.
LMAX Security and Privacy
The best way to ensure security measures is to go through its records and regulation protocols. As already mentioned, the LMAX broker is regulated by FCA and works under full compliance with its rules and regulation. Moreover, there have not been any known incidents of breach of security on the LMAX broker since it started its operations. Hence, one can say that the platform exceeds expectations when it comes to the protection of funds of its users. As per the reviews, the best fx broker applies various strategies and security measures to ensure the utmost privacy and safety of funds. They follow tight guidelines, manage capital demand, segregate client’s funds and use scheme participation to make user’s funds secure for their use.
LMAX Customer Support
As per the LMAX review, it offers a dedicated customer support section to solve issues and queries faced by the users while trading on the platform. Their customer service team is available 24/7. The customers can use various methods to contact customer executives like Telephone, Email, or Live chat systems. The customer support team of the LMAX broker is skilled and helpful enough to go the extra mile in solving the issues faced by the customers.
LMAX Reviews: Conclusion
After going through LMAX Review, one can finally say that the broker is a one-stop solution for well-established institutional and individual traders. The broker has been awarded multiple times over the years for its consistent effort to revolutionize the concept of trading platforms. It has succeeded where many others have failed. However, LMAX does not offer much to new or inexperienced traders as the platform’s primary focus is to fulfill the needs of experienced traders by providing them a technologically outstanding LMAX digital trading platform.