Lmax.com Review

3.197 • 20 REVIEWS
Updated: Dec 15, 2023
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Lmax is a forex broker. Lmax offers the MT4, MT5, Mobile and WebTrader forex trading top platform. Lmax.com offers over 100 forex currency pairs, cfds, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Other websites of this company include lmaxtrader.co.uk

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $10,000
Established: 2008
Address: Yellow Building, 1A Nicholas Road London, W11 4AN, United Kingdom
Contact: info@lmax.com, +44 20 3192 2500
Regional offices:
Regulators: FCA #509778, 783200
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader, MobileTrader (MobileApp)
Web Trading: βœ… Yes
Mobile Trading: βœ… Yes
ECN: βœ… Yes

Trading Instruments

Currencies: (100+)
Cryptocurrencies: (15+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: βœ… Yes
Scalping: βœ… Yes

Managed Accounts & Social Trading

MAM: βœ… Yes
PAMM: βœ… Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), MasterCard, Bitcoin
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), MasterCard, Bitcoin
* Please check broker website for more information
3.197 • 20 REVIEWS

Recent User Reviews of Lmax.com

London, United Kingdom,
Feb 27, 2021,
Registered user

Scalpers beware of candle manipulation on live charts

Service use: Live Length of use: over 1 Year
LMAX might boast of disruptor technology and other stuff. But all Fx Brokers have hidden agendas that can’t be identified on the surface.

Just want to alert Scalpers. Something dodgy is going on in the background on live 1 minute charts. If you compare live 1 minute candles with cTrader or MT4 their candles are constantly manipulated. I have noticed the candles suddenly change from long green candles into tails after the last candle bar was closed 1 minute ago. Also, the live candles are half hidden on the chart on the hard right edge. I first thought it was my iPad fault. It happens on my android phone app too. It’s kind of a bait to TRICK you into taking a trade and then the PREVIOUS CLOSED 1 MINUTE CANDLE suddenly changes INTO A DOJI when the next current candle is live. You have to be really glued to your charts to catch this while comparing cTrader and MT4 - 1 minute charts.

Trade with LMAX at your own charting risk.
Serbia, Serbia,
Jul 1, 2020,
Registered user

Unprofessional, terrible customer support !

Service use: Live Length of use: 6-12 Months
No use of account manager!
He didnt even know basic things that the company update in meanwhile.
When u have money in your account they will kiss your ass, when u have less money they will not answer you.
Feb 3, 2017,
Registered user

My view on LMAX...​

Good Points...
I cannot say enough good things about LMAX when it comes to trustworthiness. They have been nothing but dependable and quick.
Their MT4 set up is very decent, never had an issue...already been trading with them for years.
Their spreads are tight on EURUSD, AUDUSD
They haven't adjusted their margin requirements in panic every time uncertainty looms (most brokers have gone nuts that last year with this)....last time I can recall was Bexit....for the rest, they've stayed put for years.

Bad Points...

Their leverage is very meager in comparison to most retail friendly brokers...just 1:100...
You STILL have to go via a person via chat to transfer money from your MT4 to your web account....come on LMAX, it's 2017!!!
Their SWAP charges are the highest of ANY broker!!

So, would I recommend them....? It depends on the trading you do with them, day traders, short term traders should be OK, but if you have long term strategies, find another broker.
United Kingdom,
Jan 18, 2017,
Registered user

I am really pleased with their services - very fast order execution , customer support and the web platform. You don't have an account manager to disturb you with sales calls like other brokers do, it is strictly business, trading business. When it comes to withdrawing money, you register your debit card and you have the money in your account in couple of hours.
Mark Spinosa
Australia, Australia,
Jul 20, 2016,

Hi Everyone. I have been with Lmax for many years . Theservice and platform are quite good. The Swaps rates are shocking ........ Please compare this with other brokers on myfxbook when trading with them as I have over $6000 in difference over a 5 month period of holding the same positions with other brokers..
, Italy,
Dec 10, 2015,

on the evolution of my struggle:
after a war,
they have finally returned my money to my account.
at the end they have saved face.

2015-12-04 1Star after several times swearing
that all incoming and outcoming transfer
they have charged me € 17.44 on outcoming transfer.
Each one could draw own conclusions about the seriousness of these "gentlemen"
, Australia,
Nov 6, 2015,

Their sales team are stuck up and pompous and the CEO is an arrogant prick. They think they have something special and act like they aee the best in the world but their platform sucks so do their spreads.
Stockholm, Sweden,
Jul 27, 2015,

have used it for half year, so far, it is very good, spread is not very high. the platform (webtrader) is also very good. now reliable. update it later after another half year. Good luck to all!
Moscow, Russian Federation,
Jul 13, 2015,

This is the log of chat with lmax specialst.
Marcela: Welcome to LMAX Exchange, how can I help today?
You: Hello I made an application to be a client. After filling the form I see 3 letters. 1 - about additional information for verification. 2 - about my application was declined 3 - from your manager. What of first 2 messages was true? about verification or about decline my application?
Marcela: let me check
Marcela: I can confirm that your application has been rejected
You: can I know why?
You: or what should I do to?
You: are you here?
Marcela: You do not meet the criteria for opening an account with us on the information you provided. Should your situation change, please re-apply
You: And I can't know what exactly wrong? may be I just made mistake somewhere
Marcela: I'm sorry, I will not be able to provide you with further information
You: So I can't be your client at all? I even know what is the problem.
Marcela: You may re-apply in the future
You: Marcela, in what future? I don't know why I cant apply. Do I have to guess the problem and try and try again?
Marcela: after 6 months you may re-apply
You: I don't belive it. Sorry. Sounds stupid. ok.
You: I'll save this chat and post on forex peace army. Thanks for your help. Bye
1 trader has found this review helpful
singapore, Singapore,
Dec 18, 2014,

I have been with lmax.com for over 10 months. normally it is a good platform and broker. execution fast. but sometimes it gives spike data at news time. mostly experience is good. but until recently, I got a real severe problem with them. I was trading USDRUB on Dec 16. I was stuck with a sell position. however, on Dec 16, 6PM UK time, they send me an email to increase margin for USDRUB for 15%. I think my accounts leverage is only 1-2 times. it doesn't matter. However, 6 hours later they called me to increase margin to 100% after 1 hour, I didn't hear clearly, I think the risk is still controllable. One hour later they close my position partially over 100% margin. I think it is still acceptable if I set take profit target a bit lower, I would like to hold the position for 1 week plus. However, 17 hours later, they sent me email to inform me the product is suspended in 6 hours. I have to close my position. at that time, USDRUB is still high at 68, and their spread is varying at 20-500. so I have to cut my position and get lost of about 12% in my accounts, which is the biggest drawdown during my trading period.

I am mad with their decision. They say the volatility is too high, so they would close the product. They increase margin 15%, then 100%, at last close it just within 24 hours. I am trading this pair for long term, it is to make profit just 5 hours later. but have to suffer a big lost. How wretched it is.

I decide to withdraw most of my fund to find other brokers.

they destroyed my trust with them.
very very bad experience.
Disclaimer provided by Lmax

FX and CFDs are leveraged products that can result in losses exceeding your deposit.

The information on this website is only directed at institutional and professional clients. It is not directed at residents of any jurisdiction where FX trading and/or CFD trading is restricted or prohibited by local laws or regulations.