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Forex Brokers Rating

LMAX Global

LMAX Global

LMAX Global Broker Information

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  • Jurisdiction: United Kingdom
  • Regulators: FCA
  • Founded: 2009

LMAX Global Quick reference

There are three equivalent denominations of the company. Headlined and most frequently used one, LMAX Global, is a trade simplified name from the full version of LMAX Broker Limited. The broker is a part of the LMAX Exchange group - this is the third variant. The official website uses all three denominations, which can confuse an unprepared client. All it takes is to memorize that in each version there is LMAX.

The broker is registered in the UK, it showed the license number of the Financial Conduct Authority regulator - 783200.

Instruments that the broker offers:

  1. Forex,
  2. Gold and silver,
  3. Raw materials,
  4. CFD,
  5. Cryptocurrencies.

LMAX Exchange Features

The broker warns that its offerings are intended only for professional clients. That is, those who are able to confirm the successful experience of personal trading during at least one year. People who do not trade personally, but have an investment portfolio worth more than 500 thousand euros, are also admissible to the club.

To toss out those who are not the target audience of the broker, LMAX Global also uses a high minimum deposit: from $ 10,000.

LMAX Exchange warns that it works the same way as exchange floor. Its liquidity providers do not use the so-called `last look` - that is, refusal of transactions at already indicated prices.

LMAX Global does not work with customers from the USA at all, and as for Australia it works only with wholesale traders. There are strong restrictions for residents of Canada and Singapore.

The broker also warns that it does not provide services to residents of countries where currency or CFD trading is prohibited or limited by local law.

The broker mentions its advantages

  • licensed by one of the best regulators;
  • secure liquidity;
  • immediate execution: faster than 3 milliseconds;
  • low spreads.

Platforms

  1. own web platform
  2. MT4 и 5
  3. API
  4. MultiCharts.

Trading accounts, deposits and commissions

There is little information in the Russian version of the site. Obviously, the broker does not take seriously the Russian-speaking audience due to professional and legal restrictions. However, the broker started Russian version for order: along with English, German, French, Spanish, Arabic and Japanese.

The broker does not practice a division by accounts types depending on the size of the deposit. A demo account is available, but only after registration.

Replenishment and withdrawal of money is possible only with the help of bank transfers and debit or credit cards.

There are commissions, their size depends on trade turnover. Russian-speaking customers are invited to find out their sizes in the customer support service by phone +44 20 3192 2555.

Conclusion about LMAX Global

This is the case when the official work and regulation of the broker's activities make its services practically inaccessible to residents of the post-Soviet space. And it is not just about a high minimum deposit of $ 10 thousand. The broker will simply dismiss a person who wants to invest much bigger amount of money because in his/her country brokerage services are still outside a legal field. This means that good British broker should not provide such customers with services.

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