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LMAX: Review, Analysis and Complete Guide

LMAX Exchange is a secure broker regulated by the FCA (British financial market regulator) that provides a unique and secure solution for investing in the FOREX and Index CFD market.

It is based on its idea of facilitating a transparent, neutral and secure market for investment, with the same level of access to all market participants, regardless of their status, size or level of investment.

This broker has received several awards since its inception, recognized for its scalable technology platform, excellence and innovation and as one of the fastest growing trading companies in the UK in the last three years.

LMAX is aimed at brokers and dealers, institutional asset managers, commodity trading advisors and corporate traders.

Below we will refer to the various features of LMAX, its fee schedule, ways of trading in the Forex and CFD market, patented technology, user feedback and everything you need to evaluate whether you are the right broker to trade.

Pros and Cons of LMAX

Pros

  • Broker regulated and secure.
  • Excellent opinions and acknowledgements.
  • Transparency in all trading.
  • Patented technology.
  • Forex and CFD reference.

Cons

  • Restrictions for retail traders.
  • High swap fees.

LMAX Financial Products

LMAX Global clients can invest in over 100 instruments: Forex, precious metals, stock indices, commodities and crypto-currency CFDs such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, among others.

Stocks and financial products

CFDs: Contracts for Difference offer the possibility of leverage, whereby the difference in price of an asset is exchanged between the time the position is opened and the time it is closed (long or short).

It is thus possible to benefit from fluctuations in the underlying assets without having to be a holder of them. This derivative has reduced costs and offers a wide range of products to invest.

LMAX ofrece numerosos stocks y productos financieros

It is very important that the chosen broker is reliable as it involves great risks if the trading is not secure. LMAX specializes in this type of trading with 100:1 leverage and offers more than 60 currency pairs to trade.

Forex and Currency Pairs: LMAX offers the following currency pairs for trading:

  • EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, EUR/HUF, EUR/TRY, EUR/RUB, EUR/ZAR, EUR/CZK, EUR/NDZ, EUR/PLN, EUR/SGD, EUR/MXN, EUR/SEK, EUR/NOK
  • AUD/CAD, AUD/CHF, AUD/JPY, AUD/USD, AUD/NZD*
  • CAD/CHF, CAD/JPY
  • CHF/JPY
  • GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, GBP/HUF, GBP/TRY, GBP/ZAR, GBP/CZK, GBP/PLN, GBP/SGD, GBP/MXN, GBP/SEK, GBP/NOK
  • USD/CAD, USD/CHF, USD/JPY, USD/HUF, USD/TRY, USD/RUB, USD/ZAR, USD/CZK, USD/PLN, USD/SGD, USD/MXN, USD/SEK, USD/NOK
  • NZD/USD*
  • NOK/SEK

In addition to the regular orders that are accepted until 23:00 hours, orders can be executed for several days until the order is revoked.

Commodities and Indices: Among the commodities and indices that are traded are: gold, silver, brent, crude oil, natural gas. Both gains and losses are generated from the change that occurs between the opening and closing price of the transaction.

LMAX Exchange makes a price adjustment for night positions and is determined based on the price published daily by LMAX Exchange.

Crypto-currencies: LMAX Exchange operates crypto-currencies through an efficient and reliable platform: LMAX Digital. It offers secure access to the most liquid cryptographic assets: Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash, 24 hours a day, seven days a week.

LMAX provides the same degree of security and anti-washing policy compliance as the rest of its operations. The company maintains a central limit order book with information on flow, institutional liquidity and secure company portfolios.

The execution speed is less than 350 microseconds, more than 100,000 messages per second and 100% uptime.

This platform allows you to acquire and trade crypto currencies such as Bitcoins securely with very good liquidity and quality.

Unique Programs

Individual Investors

LMAX Exchange provides individual investors with a single account type, which is customized according to the method of account opening and the platform to be used.

Under no circumstances will the speed and mode of execution of transactions be changed, nor will the location of the servers (London) be altered.

Both foreign exchange and precious metals trading can be done 24 hours a day, 5 days a week.

LMAX ofrece múltiples programas de inversión

Professional Investors

LMAX Exchange allows you to change the classification from individual client to professional. In order to request a change in classification, two of the following three conditions must be met.

Conditions for changing the classification:

  1. Carry out four transactions per quarter with a value equivalent to 50,000 euros;
  2. The value of the investment portfolio must exceed 500,000 euros;
  3. At least one year’s professional experience in the financial sector in a position that requires knowledge of transactions in financial instruments

A professional client benefits from a maximum leverage of 1:200, access to all available instruments and transactions, and the ability to return to a retail client at any time.

How to Open an Account in LMAX

In the opinion of most users, opening an account in LMAX is a simple and safe process. First you will need to register by completing a personal data form.

Once this condition is met, a number of extra benefits will be available, such as the ability to negotiate fees and a $1,000 deposit to the account.

The system will ask you for an identity card and verification of your address. Once your identity and address have been verified, you will be able to deposit funds into your account and begin trading.

If all steps are executed correctly, the process should not take longer than 48 hours, including verification.

Cómo abrir una cuenta en LMAX para Forex

Requirements and verification

One of the requirements for trading in LMAX is to have verified identity by scanning the relevant documentation: ID card, passport or driver’s license.

You will also be asked for a document confirming your address (the date of which may not be more than three months) which you will inform in due course when you register.

These requirements are essentially important when withdrawing funds from your account and make the system more secure and reliable for investing.

Demo Account

Demo Account – LMAX Exchange: To open a demo account you need to fill in a form, select the type of platform and download and install the corresponding application to start trading virtually.

MetaTrader 4 Demo Account: It is also possible to access a demo account on the MT4 platform. This requires an email request and you can easily view all the available trading instruments.

Demo accounts allow you to learn about the operation of trading platforms and examine analytical tools in a practical way. They are valid for 90 days from their opening.

Available Countries

LMAX has a policy of sustained expansion since its foundation in 2009. Its goal is to expand the company’s presence for better access to customers. LMAX Exchange offers services to customers in over 100 countries worldwide from its eleven offices in the UK, USA, Europe and also in Asia.

How to Use LMAX

LMAX offers different trading platforms, so the trader can choose the software that best suits his needs and thus optimize the results of his investment decision.

Desktop Platform

LMAX provides the following trading platforms for investing:

  • LMAX WebTrader
  • MetaTrader 4
  • MultiCharts
  • API Trading

LMAX WebTrader: This is a multi-functional browser adapted as a trading platform that offers good tools, ideal for all types of traders, even those using Linux as their operating system. It is owned by LMAX.

MetaTrader 4: But if the trader prefers to use the MT4 trading platform, LMAX Exchange also offers this possibility. It is simply necessary to select this option when the trader opens his account. After the corresponding verification, the trader will receive a link to download the MT4 platform.

Multicharts: is a trading platform that requires a license but LMAX Exchange offers its data loading system which will allow the trader to trade directly from its trading platform.

API Trading: LMAX Exchange offers its clients the use of an API that provides direct access to LMAX’s trading operations, through a secure protocol and a fast and totally anonymous service. It can also be accessed through a demo account.

Tecnología y plataforma online de LMAX

Mobile Platform

LMAX offers an exclusive app for its customers. This app provides trading functionalities and access to the central limit order book. It also offers tighter spreads on updated liquidity from top banks and companies.

This exclusive app offers the following advantages:

  • Access to a wide range of instruments: Forex, crypto-currencies such as Bitcoin, Bitcoin Cash, Ethereum, etc., commodities and indices
  • Immediate execution of orders without final review
  • Several types of orders to manage risk as minimum margins
  • Record speed in closing transactions (with only 1 click)
  • Real-time account status to better manage positions
  • Monitor market movements and trends using interactive historical tables

The download of this app is free and can be used on both a live and a demo account. LMAX has iPhone and Android compatible platforms.

Research and Visualization Tools

LMAX has the easy-to-use “LMAX News” app that provides the latest Forex news, research tools, analysis, market data, charts and economic calendar that updates automatically.

They also provide outstanding market research, audios, videos and reports with various analyses and opinions. It covers information about Forex, crypto currencies such as Bitcoin, Bitcoin Cash and Litecoin, commodities and indices.

It also provides economic news and market data with real-time price data for all instruments traded by LMAX. In addition, it offers charts with current and historical data, interactive charts, intervals in 1, 5, 15 minute, 1 hour and 1 day time scales.

LMAX Deposits, Withdrawals, Rates and Limits

Deposit Methods and Minimum Deposit

LMAX Exchange offers several deposit methods, including: SWIFT or SEPA bank transfer, all credit cards or the use of debit cards.

Once the live account is created, the trader will have 30 days to make his first deposit. After that time, LMAX will have the right to dispose of the account.

LMAX Exchange does not charge a fee for depositing money. Costs related to transfers depend only on the method of transaction.

Withdrawal Methods

LMAX Exchange offers several payment methods for withdrawal of funds, including: SWIFT or SEPA bank transfer, all credit cards or use of debit cards.

LMAX Exchange does not charge a fee for withdrawals. Costs related to transfers depend solely on the method of transaction.

Fees and Commissions

LMAX Exchange offers trading of over 70 instruments, including currency pairs and CFDs for indices, precious metals and commodities.

Spreads are not regulated by the LMAX Exchange but arise as a result of market liquidity at the time of trading. It is possible to check the spreads even on the demo platform.

Commissions in foreign currencies depend on the value of the transaction (base currency), while in CFDs, the fees result from the contract specifications.

Mercados de inversión de Trading online

Limits

LMAX is characterized by an open, risk-free order book and no last-minute policy. This means that orders are not reviewed before execution.

Streaming limit orders are provided by Exchange Members so that clients know the actual price and cost of the trade at any time.

A limit order is an order to buy or sell a security at a specific price, or execution is not guaranteed with limit orders but does guarantee that an investor will not pay more than a certain price.

LMAX has limit order liquidity from first class banks. We can say that the quotes of a market are built by limit orders, as they are the main source of liquidity.

Is LMAX Safe?

LMAX is a safe and reliable broker since it is regulated by the financial authorities in the UK, client accounts are segregated and it uses advanced technology that makes it even safer. The awards it has received confirm this.

Regulation

LMAX Exchange is regulated by the FCA (Financial Conduct Authority), which is the UK body responsible for controlling and supervising financial activities. LMAX Exchange is authorized by the FCA as a Multilateral Trading System as defined in the Markets in Financial Instruments Directive (“MiFID”).

Clearing Scheme

If the company is unable to meet its obligations, e.g. in the event of bankruptcy or insolvency, this would affect the value of the product and result in a loss for the investor.

That is why it is so important that LMAX places the funds in segregated accounts in accordance with the FCA (Financial Conduct Authority) Monetary Regulations. In addition, the trader is covered by the Financial Services Compensation Scheme.

Customer Care

LMAX Exchange answers questions and provides phone support for the Americas, Europe, Asia, and via email.

The Customer Service team provides 24-hour support from Sunday 10pm to Friday 10pm UK time. They also provide technical support via email

It also provides 24-hour live chat from Sunday to Friday. All support is provided in several languages.

Soporte y servicio de atención al cliente

Opinions from LMAX

Next we will bring you the opinions of some users who are already trading with this broker. These opinions will also help you decide if LMAX is the ideal online broker to invest your money.

One of the opinions belongs to Simon D. who said: “LMAX is one of the most serious companies in the field of Forex and CFD trading. Commissions are normal and it offers very good spreads. Excellent advice on Bitcoins“.

Another opinion is that of John S.: “Advice on Forex trading is very good. The only thing I would change is the leverage policy because it seems a little low today.

Also, among the opinions about this broker, Carl F. said: “I have never had problems with them, they are very friendly to serve the customer, I had very good experiences with the purchase and sale of Bitcoins and with everything related to Forex“.

Finally, we mentioned another opinion about LMAX, in this case Carl R. said: “I traded for several years with this broker and never had any problems with my Forex trading. I had good experiences with crypto-currencies like Bitcoin Cash and Ethereum. Unfortunately this year I had a bad experience with the withdrawal of my money”.

LMAX Alternatives and Competitors

If after reading all the features and reviews about LMAX you still need to know the reviews about other service options, you can also choose from other brokers. Currently, there are several companies that offer the online broker service.

Here are some reviews from other brokers so you can rate and compare features and opinions:

Our Selection Best Broker Forex - 2020

1

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Conclusion

Although LMAX is not the typical broker for retail traders due to the requirements of the company, we must say that this intermediary is secure, offers a wide range of financial instruments and operates with excellent trading platforms.

One of the opinions of the users that we could see is that the swap commissions are slightly higher than most of the brokers that handle forex and CFDs. This could be detrimental to medium-term trading strategies.

In contrast, the spreads offered by LMAX are among the best in the Forex and CFD market worldwide. Those spreads are absolutely more interesting in cryptosystems such as Bitcoin.

The customer support service is another strong point that provides several communication channels: live chat, phone, email, plus an extensive video library with important information and analysis for the trader.

Therefore, we recommend LMAX as a broker specializing in forex and CFDs in order to trade safely and efficiently, with several trading options in the financial market.

LMAX Technical and Characteristic Data Sheet

Main Features LMAX
VPN
Countries where it is regulated 100
Price Free
View offer
Minimum Deposit $0
Time to open account 2 days
Available currencies 33
Available products
Withdrawal fee $0
Inactivity fee 1
Trading Rates $0
Bank card deposit
Deposit with electronic wallet
Demo account available?
Easy to use platform?
View offer

Frequently Asked Questions about LMAX

🔥 What is LMAX?

LMAX Exchange is a secure broker regulated by the FCA (British financial market regulator) that provides a unique and secure solution for investing in the FOREX and Index CFD market.

➕ How does LMAX work? How can I use it?

LMAX offers different trading platforms, so the trader can choose the software that best suits his needs and thus optimize the results of his investment decision.

✨ How to Sell in LMAX?

LMAX Exchange offers several payment methods for withdrawal of funds, including: SWIFT or SEPA bank transfer, all credit cards or use of debit cards. There is no fee for withdrawals. Costs related to transfers depend only on the transaction method.

➡ How to Make Money at LMAX

LMAX customers can trade over 100 instruments: Forex, precious metals, stock indices, commodities and crypto-currency CFDs such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, among others.

⭐Is LMAX safe?

LMAX is a secure and reliable broker since it is regulated by the financial authorities of application in the United Kingdom, the clients’ accounts are segregated and it uses advanced technology that makes it even more secure. The awards it has received confirm this.

✅Is LMAX regulated?

It is regulated by the FCA (Financial Conduct Authority), which is the UK body responsible for controlling and supervising financial activities. LMAX Exchange is authorised by the FCA as a Multilateral Trading System as defined in the Markets in Financial Instruments Directive (“MiFID”).

Opinions and Experience of LMAX Users

Have you used LMAX services before? Would you recommend it? Tell us about your experience using an LMAX service in the comments.

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