LMAX Review

MIN. DEPOSIT $10,000
Up to 100:1
No BONUS
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company Information LMAX Exchange, or just known as LMAX, is a privately held company founded in 2010 and based in London, UK. The owner behind the curtain is Betfair (one… more

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Details

BrokerLMAX
Website URLhttps://www.lmax.com/
Founded2012
HeadquartersLondon, United Kingdom
Support Number+44 20 3192 2555
Support Emailinfo@lmax.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, German, Spanish, French, Russian, Chinese, Polish, Japanese
Minimum 1st Deposit$10,000
Minimum Trade Amount0.01 lots
Maximum Trade Amount2,000 lots
BonusNo
PayoutUp to 100:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Conduct Authority (FCA)
Account TypesIndividual, Corporate
Deposit MethodsBank Transfer, Debit/Credit Cards
Withdrawal MethodsBank Transfer, Debit/Credit Cards
Types of AssetsForex, Spot Metals, Equity Indices, Commodities
Account CurrencyGBP, EUR, USD, AUD, CHF, JPY, PLN, SEK, SGD, HKD, HUF
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

LMAX Exchange, or just known as LMAX, is a privately held company founded in 2010 and based in London, UK. The owner behind the curtain is Betfair (one of the largest sports betting companies) It’s a unique enterprise, which is, in fact, the first MTF or multilateral trading facility dedicated to Forex trading activities. LMAX is a fully regulated entity, and it is supervised by the FCA. The operations of the company are defined by the MiFID (Markets in Financial Instruments Directive), and the whole business model can be just put as an exchange-style trading model. The unique structure of the LMAX relies heavily on the technology involved in it. It is build to sustain a high volume of trades with low latency execution, as it entirely focuses on exquisite performance. The ways to connect with the platform are various, such as Java, NET, APIs, MetaTrader 4 and five bridges, as well as many others. As one of the innovative brand in the financial world, LMAX won a huge selection of awards. In 2011 the exchange got to reputable prizes – Best Trading System and Oracle’s “Duke’s Choice” given to innovative programming frameworks. Later on in 2013 and 2014, LMAX continues with the great achievements and wins many more prizes. Some of the most popular ones are Fastest Growing Tech Company in the UK and Best FX Platform obtained for two years in a row.

 

Trading Information

LMAX offers more than 70 different financial instruments with the most traded ones included. There are various currencies, commodities, indices and interest rates available publicly with full transparency. One of the best features of the exchange is the complete anonymity granted to each and every trader. According to the creators, clients are equal to the same speed of execution and trading conditions. The offered market is incredibly deep and goes up to 20 levels. The more experienced traders will love to trade with LMAX and enjoy its amazingly designed algorithm that strictly matches the time/price priority and precisely processes the trades. The exchange company allows numerous accounts for both personal and institutional uses, such as Professional, Institutional, InterBank, Asia, Prime and Brokerage profiles and solutions. Traders’ accounts receive excellent trading conditions. Leverage is set to 1:100 and spreads start from 0 pips. Commissions are as low as 25$ per million in trading volume. A margin call is set at 100% and stop out at 70%.

 

Trading Platforms

When it comes to trading platforms, LMAX cover almost everything. The innovative broker partners with the leading software providers. Traders can pick from MetaTrader 4 and 5 Bridge vendors, such as PrimeXM, Gold-i, Tools4Brokers, WADMAX Technologies, oneZero and others. Also, clients can use Front-end trading solutions and managed network providers to conduct their traders. In fact, LMAX is much more than this. As we’ve mentioned, there are various access possibilities via APIs, Web GUIs, Mobile and FIX 4.4 and extensive connectivity through Internet and Extranet, Equinix LD4/5 and TY3, PoP at Interxion. People who are not familiar with these technologies may feel confused. However, the truth is that LMAX offers almost endless possibilities for every customer or business.

 

Security and Customer Services

For a vast and complicated platform as the one LMAX provides, the security is surely highly enhanced. The broker employs a secure SSL encryption on its website issued and certified by Comodo CA. All the data, which the company acquires is kept safe and heavily guarded on their servers. Also, clients will be delighted to know that the exchange is strictly regulated by the FCA for an extra peace of mind.

 

Customer services and contacts are entirely handled by the LMAX’s staff. There are separate communication channels for general information, technical support, client inquiries, and media. All of these departments can be reach out via phone or email. There is a total of 8 languages supported, and most of them are European. Customers are also free to use the social media profiles of the broker and interact with the representatives there. Some useful information can also be found in the FAQ section and the blog of LMAX.

 

Deposits and Withdraws

Funds are transferred through various methods, and the most popular ones are inevitably presented. There are bank wire transfers and credit/debit cards allowed. Joint accounts can also be used for deposits with additional documentations as proof. Clients should know that all deposit requests are subject to verifications and extra checks until the source of the money is determined.

 

Withdrawals are handled pretty much the same way. The source of the deposit acts as a destination for the withdrawal transfer. Of course, customers should apply for the cash transaction and receive approval. The whole procedure takes a few days, so traders should plan it accordingly.

 

Deposit Bonuses and Loyalty Program

Unfortunately for many traders, LMAX does not offer any deposit bonuses, promotions or other events for its customers. In fact, we do not consider it as a drawback, but even a positive trait. Many of the brokers nowadays use the so-called bonuses with one simple purpose – to attract new clients. However, the truth is that the real value of these promotions is very hard to obtain and most of the time it’s not worth it. LMAX tries to keep it professional and as transparent as possible. It is the sole reason for a total absence of bonus programs.

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