LMAX Market review – Is it a good broker?

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What is the LMAX market?

LMAX is an  English institutional Forex and CFD broker regulated by the FCA . This means that LMAX only provides services to institutions and professional clients. This requires an account of several hundred thousand dollars as an individual.

This is a pure ECN broker in which transactions take place in the LMAX exchange, or market, one of the world’s leading Forex and CFD trading in direct market access mode.

LMAX is a broker specialized in the institutional market, offering three account divisions, the Professional, the Institutional and the Interbank.

The Professional is aimed at professionals, brokers and institutions.

The Institutional to Funds and other specialized organizations in the investment world.

Interbank, as the name indicates, to banks.

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Risk warning!

These accounts can give us an idea of ​​the type of clients that LMAX works with, so this is not a broker for small clients.

LMAX account opening and minimum deposit

This broker provides both institutional and professional trading services, being the minimum for professionals to open an account of USD 500,000. If this criterion is not met, experience in the sector must be proven.

Most of the clients of this broker are institutional. This is: other brokers especially. This is why many of the ECN or STP brokers use the LMAX market as a liquidity provider.

The platforms that LMAX offers are MetaTrader 4 , MT4 Multiterminal, MultiCharts, Web, Mobile LMAX and API.

For API, NET and java it will be necessary to operate a minimum of USD 5 million per month. For FIX, the minimum will be 25 million.

LMAX spreads and commissions

The products offered by LMAX are 67 pairs of Forex and CFDs on oil, metals, cryptocurrencies and indices.

We are going to see the typical spreads of this broker, which we can consider without a doubt as the best in the entire Forex and CFD market in the world; Although it is true that we are dealing with an institutional broker and this is not available to the typical retail client, or at least not through the broker directly.

Typical spreads:

SpreadsPreviousNew
EURUSD0.450.3
GBPUSD0.750.7
USDJPY0.450.2
AUDUSD0.60.4
USDCHF1.550.8
USDCADone0.7
Gold0.120.15
Petroleum0.0550.04
SP5000.500.4
Nasdaq1000.750.55
DAX30one1.1

As we see, we have very interesting spreads, especially in cryptocurrencies such as Bitcoin, but of course, this is to be expected in a broker of this category.

LMAX reviews

This is without a doubt one of the world’s best Forex and Metal CFDs and Index brokers .

In particular, it is worth noting the conditions of gold, which can be traded with a spread almost equal to that of the futures markets, and much better than most retail Forex brokers.

Likewise, the Forex conditions are among the best in the entire market.

The above, together with the good reputation, makes this broker one of the market favorites, although it is currently focused on professional clients and institutions.

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The complaints that we find about it cannot be very numerous due to the fact of the institutional nature of this broker. In fact, I think that in this broker you are not going to find any serious complaint because obviously we are dealing with a broker broker. Here what governs is the efficiency in the execution.

Our opinion of LMAX

In particular, this is a broker that we have worked with in the past and we can only speak highly of it in terms of fees and execution.

If the trader does not win here it will not be the fault of LMAX, but of the bad strategies applied.

Therefore, it is not surprising that this broker is the provider that many other prestigious brokers choose as a channel to offer their Forex trading services, among which some Spanish, for example.

As a negative point, their swap commissions are higher than the average, which can put some impediment when implementing medium-term strategies, very followed by many professional traders.

Since its launch, and especially after its break with betfair, LMAX has been one of the benchmark brokers in the Forex and CFDs market.

After some time the broker stopped offering accounts to retail traders with the old requirement of a minimum of $ 10,000, which was already high in itself. Although curiously before there was the possibility of opening accounts with up to 2,500 using some introductory broker.

With the current structure, it does not make much sense to talk about the trading conditions for the typical trader, but there is the possibility of opening accounts with brokers who use LMAX as liquidity providers. One of them, for example, is Darwinex .

LMAX overview

  • Country: UK
  • Regulation: FCA
  • Markets: Forex and CFDs for metals, energy, cryptocurrencies and indices
  • Type: ECN / Institutional Broker
  • Deposit methods: transfer
  • Platform: MetaTrader, Own website, MultiCharts, FIX API
  • Scalping: yes

For more information, visit the website .

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