Alyaziah Hayat | March 27, 2022
Table of Contents
LMAX Exchange Group is a global, high-growth financial technology company. It operates the LMAX Exchange, which is a leading FCA regulated multilateral trading facility (MTF) for forex, metals, indices, and commodities. In 2014, LMAX Group was ranked the fastest-growing company in the UK by the Sunday Times TechTrack 100.
Broker Pros / Cons
- Strict regulation
- Offers over 100 financial instruments
- Clients’ funds are held in segregated trust accounts
- Intuitive & powerful MetaTrader platforms
- Minimum required deposit of $10,000
- Limited account types
- Limited funding options
- Professional & institutional traders only
LMAX Group was launched in 2010 to offer exchange style execution and a regulated, rules-based trading environment that is governed by the LMAX Rulebook, ensuring fully transparent and fair execution for all its clients and market makers. Servicing funds, banks, brokerages, asset managers, and proprietary trading firms, LMAX Group offers strict price and time-priority order execution at ultra-low latency. Clients have access to real-time streaming market and trade data, which enables the control of execution quality and total trading costs.
LMAX Exchange is one of the fastest-growing financial technologies in the United Kingdom, and it has a solid presence and exchange infrastructure in all major FX markets around the world, including Europe, North America, and Asia-Pacific. The broker offers over 100 financial instruments across multiple tradable assets, such as forex, bullion, metals, indices, commodities, and crypto CFDs. It ensures ultra-low latency, precise execution, and transparent cost for both buy and sell while offering tight spreads starting from 0.2 pips.
LMAX Exchange has been recognized for growth performance, excellence, and innovation by the most prestigious business and technology groups. The awards include the ‘Best Margin Sector Platform’ for five consecutive years (2017, 2016, 2015, 2014 and 2013) by the Reader’s Choice Awards and the ‘Best FX Trading Venue — ECN/MTF’ for four consecutive years (2016, 2015, 2014 and 2013) by the Fund Technology and WSL Awards.
LMAX Global is a trading name of LMAX Broker Limited, which is authorized and regulated by the Financial Conduct Authority as a broker and an authorized payment institution (firm reference number: 783200). The company is registered in England and Wales (number 10819525), as well as in Europe and New Zealand as LMAX Broker Europe Limited and LMAX New Zealand Limited respectively.
LMAX Broker Europe Ltd is authorized by Cyprus Securities and Exchange Commission (CYSEC) with registration no. 310/16, while LMAX New Zealand is incorporated in New Zealand (Number 5626391) as a Financial Services Provider with registration number, FSP612509.
LMAX Digital Broker Limited is authorized by the Gibraltar Financial Services Commission under license number FSC1342B and is a company registered in Gibraltar (Number 117528).
LMAX allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers. However, it’s specifically stated on the broker’s website that they do not offer their online trading services to residents of the United States of America, Australia (excluding Australian clients who are “wholesale clients” as defined under the Corporations Act 2001); Canada (although they may deal with Canadian residents who meet the “Permitted Client” criteria); Singapore or any other jurisdiction where FX trading and/or CFD trading is restricted or prohibited by local laws or regulations.
The MT4/MT5 platforms are amongst the most popular trading platforms in the online trading industry. MT4 is replete with tools to help analyze the financial markets. It provides traders with live price feeds, intuitive technical charts, analytical tools, and up-to-date financial news to ensure that they are aware of what is happening in the market at all times. The MT5 platform has all of the same features as MT4 but with some additional tools and extended capabilities. Both MT4 and MT5 are available as desktop applications for Windows and Mac computers, web platforms and mobile trading apps for iOS and Android devices.
The LMAX Global trading app delivers complete trading functionality, streaming, firm limit order liquidity with no ‘last look’ rejections, low latency execution, and real-time price updates. LMAX Global Mobile app suite is available for Android and iOS devices and is seamlessly integrated with all LMAX Global markets, delivering fast trading access, the very latest VWAP FX market data, and up-to-the-minute, FX news – at the touch of a screen.
LMAX Global web trading technology delivers clients:
- Direct access to all LMAX Global markets
- Low latency, anonymous trading
- Streamlined efficient and superior execution
- Easy to use and feature-rich professional User Interface
- No downloads required
LMAX Global Application Programming Interface (API) technology enables clients to automate FX trading and CFD trading. Clients can use the broker’s customizable Client Libraries (Java, .NET) or FIX protocol for their integration.
FIX/API users benefit from:
- Free direct access to all markets on LMAX Global
- Ultra-low latency, anonymous trading
- Secure protocol
- Access up to 20 levels of market depth (via FIX only)
- Access to a knowledgeable API technical support team
- Risk-free testing in the demo environment
LMAX Exchange has an economic calendar that covers all economic events in the world and the effects they are expected to have on the markets.
This offers the following:
- Fully customizable news feed
- Headline news
- Feature analytics
Global FX Insights
The broker provides unique market research, analytics, and opinion delivered daily in audio, video, and report formats.
The broker’s website has a wide range of tutorial videos, which are geared towards improving traders’ overall trading skills and knowledge while keeping them informed about the factors that move the markets. There is also a Frequently Asked Questions (FAQs) section on the broker’s website, which has answers to clients’ common questions.
The broker offers over 100 financial instruments across multiple tradable assets, such as FX, bullion, equity indices, and spot commodities for online trading.
LMAX Exchange offers a limited choice of account types to traders, and the minimum deposit is $10,000 or the equivalent in the base currency. The trading accounts are:
- Individual LMAX Account
- Corporate LMAX Account
Both accounts have variable spreads. There are demo accounts for practice purposes, and they are recommended for beginner traders to try out the broker’s platforms and practice their own strategies with virtual funds before opening a real live trading account.
LMAX Exchange provides clients with a multilingual customer support team that is readily available to offer knowledgeable and prompt response to clients’ general, technical, or account-related inquiries. The customer services team offers 24-hour support from Sunday 22.00 – Friday 22.00 UK time. You may contact the team during the trading hours via telephone, the live chat function on the broker’s website, or by Email.
LMAX Global currently offers accounts denominated in GBP, EUR, USD, AUD, CHF, JPY, PLN, SEK, SGD, HKD, and HUF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. There are only two most convenient and reliable payment methods accepted for account funding and withdrawals, namely:
- Bank Transfer
- Debit/Credit Card
In compliance with the FCA client money rules, all client funds are held in a segregated client trust account. Some payment methods may not be available to some specific countries, while the transaction processing time may vary with the payment providers.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
LMAX Exchange is a company that offers a comprehensive solution to well-capitalized individual traders and institutional clients. Although novice traders may not be in the company’s clientele, LMAX offering is among the most competitive and powerful due to the technological innovations and overall implementation. The broker provides clients with FIX 4.4, API (Java, .NET), Web GUI, Mobile, and MT4/5 Bridges (for Brokers), and they regulated by the FCA. However, there is not much detailed information about the broker’s trading accounts and funding options are limited.