- FCA regulated
- Segregates clients’ funds
- Min deposit $10,000
- Limited account types
- Limited funding options
LMAX Global has been offering its services in the market since 2010 and is regulated by the FCA. The company’s clients can use a number of trading instruments, including: Forex, Metals, CFD Indices, Cryptocurrency and Commodities. Trading technology provides 24-hour access to financial markets. LMAX Exchange Group is the holding company of LMAX Limited and LMAX Broker Limited, which operated under the brand name LMAX Exchange and is a financial technology company situated in London. In 2012, it bought out its parent company, Betfair and opened an office in Hong Kong in 2014.
LMAX has prepared for its customers the basic asset classes. All you need to do is to choose the best for you. It offers over 100 different instruments to trade, including over 100 currency pairs. You can choose among the following asset classes:
LMAX does not offer a range of account types, while the type will diverse only by the Investors profile. Due to the company establishment and the way they deliver trading opportunities, either Institutional or Professional clients are able to join, which also requires a strong financial background. The LMAX Prime account offers centralized clearing across multiple venues, a pre-trade risk management solution, multiple liquidity sources via one prime brokerage agreement, a cost-effective clearing model and elegant and simple orders execution.
Open an account
Users simply need to click on the Sign-Up button on the broker’s homepage to open an account with LMAX. Here, users will need to fill in their name, email, and password and telephone number while agreeing. After the confirmation process is finished, you can make a deposit and start trading. Alternatively, you can open a demo account.
The minimum required deposit necessary to make and open an account is $10,000. The sum is rather high one, which suits more for professional traders, but not for the novices.
Luckily, the broker provides its clients with the MT4 and MT5 platforms. MT platform is very popular among the traders thanks to the variety of instruments it offers. You can read more details about the features of the platform here. The mobile trading is also available.
After conducting careful research, we can conclude the following. Although it is classified as an FX and CFD broker, it is the first MTF (Multilateral Trading Facility) regulated by the Financial Conduct Authority and is defined as such by MiFID. LMAX was established to deliver the benefits of exchange quality execution to both buy-side and sell-side trading institutions. It also segregates its clients’ funds. However, the minimum deposit is $10,000, which is comparatively high, and suits only to those who are skillful and confident. So, we do not recommend the broker to beginners. The account types are also limited and funding options as well. Finally, the broker is oriented toward professional traders.