London Multi-Asset Exchange or LMAX is an online financial broker established in 2008 by Betfair, it’s parent company. LMAX’s main office is located in London, United Kingdom, but has offices in a number of major cities around the world. It is no ordinary broker as it is the first ever Multilateral Trading Facility or MTF under the regulation of FCA or Financial Conduct Authority. 

It has received various awards throughout the years which include 2015 Beat FX Trading Venue, 2015 Best Margin Sector Platform, and 2014 Number 1 Fastest Growing Tech Company in the UK.

This is box title
  • Regulator – FCA, MiFID
  • Trading Platforms – MT4, LMAX Web Trader
  • Available since – 2008
  • Minimum deposit- $1,000
  • Leverage – Up to 1:100
  • Spreads (& commission)- 0.9 pips 
  • Minimum trade size- 0.01 lot 
  • Demo account – Available
  • Mobile Trading- Available
  • Trade Signals- e-mail alerts, website personal page, Automated Trading
  • US Clients- No
  • Islamic Account- No

AssetMagnate Rating: 

Trading Platform 

Clients under LMAX Exchange use the  MT4 trading platform, LMAX Web Trader and the API trading. 

MT4 is an old trading platform that is still maximized by almost 80% of the brokers today due to its great features which include advanced charting package, Expert Advisers, a number of built-in indicators and backtesting option which clients can use whenever they like. Clients using MT4 by LMAX can access it via the web, mobile or desktop.  MT4 is MultiTerminal as well which means that clients can manage multiple accounts all at once using one device only. 

The LMAX Web Trader platform allows clients to have access to all LMAX Global markets with low latency. It also offers anonymous trading with superior and efficient execution. It is easy to use and features a rich professional user interface. 

Lastly, the API trading offers automated trading with free direct access to all markets on LMAX global. It also offers anonymous trading with ultra-low latency and secure protocol. Clients can also access up to 20 levels of market depth and an access to the API technical support team. 

Mobile Trading 

LMAX offer their clients mobile trading app for all members which have the same feature and functionality with web trading. It also offers the Me2 trading which is available for iPad only. The mobile trading app is available for both Android and iOS users which can be downloaded via Play Store or App store respectively.

Account Types

With LMAX, a client can choose to open among the three account types that they offer. 

  1. LMAX Prime Account – This account type offers a pre-trade risk management solution and provides access to the LMAX Exchange. It also gives access to top-tier global banks, multiple liquidity sources, and a turnkey implementation.
  2. LMAX Institutional Account – This account type offers a one of a kind FX Trading venue with firm limit and order driven liquidity. Furthermore, it also allows clients to have access to have a complete trading anonymity, low latency execution, exchange quality execution, trade transparency and so much more. 
  3. LMAX Interbank 
  4. The LMAX Interbank offers clients before and after trade transparency in as much as it gives all the benefits of exchange quality execution. In addition, traders under this account are enjoying a superior credit solution using a single credit line at no fixed costs.

Demo Account 

Clients, either a new or an old one, can open a demo account which is available in different languages. It is good that they have such a feature so that clients can practice trading without risking any of the assets that they have.

Minimum Deposit 

Clients can have their own LMAX trading account with the minimum initial deposit of $1,000. This is an attractive minimum deposit compared to the brokers which require more or fewer thousands of dollars to open an account. 

Payment Methods 

If a client wishes to withdraw or deposit, he can do it via credit or debit card, Neteller, Skrill, Bank Wire transfer and any other method available and accredited by LMAX. 

Maximum Leverage 

Clients can enjoy the maximum leverage which is as high as 1:100 which means that they can trade at larger positions than what they have in their account. This is notably a safe leverage but it also comes with lesser gains. 

Spreads and Commission

Variable spreads are offered by LMAX  which means that it all depends on the account type that one has. The average spread is 0.9 pips. The commission is based on the spread cost wherein a commission of 2.50 is given for every 100,000. For MT4 traders the commission given is 2.80 for every 100,000. 

Regulation and License 

LMAX is regulated under FCA and MiFID which enables LMAX to execute trading orders in real time. These regulators have a great credibility and are very much known as a strict and reliable regulatory body. 

Customer Service 

LMAX clients can contact LMAX via chat, telephone or email. Unlike other Forex brokers, LMAXustomer support is available only for 24 hours from Monday to Friday. 

Benefits of Trading with LMAX

There are a lot of benefits that a client can have once he opens an LMAX Forex trading account. The benefits include tight spreads, maximum leverage up to 1:100, regulated and licensed broker, fast and easy withdrawal, and so much more. 

Pros

  • Well regulated 
  • Demo account 
  • Mobile Trading 

Cons

  • Nothing Tangible 

Conclusion

LMAX is an award-winning company which offer transparency to clients and offers a wide range of choices which customers can freely choose from. They offer clients great choices and a number of benefits which when maximized can be a great help when trading.