Lmax.com Review

The transparency and support received was great. Good commission structure and solid reputation in the sector.

LMAX GLOBAL provide only 1:30 leverage and not 1:500 as they falsely advertised everywhere to bait new traders.
LMAX  will process your incoming bank wire transfer superfast so you can start Trading within 2 hours and they start earning commissions.
But...When you put in a request for withdrawal.... Boy oh boy ...LMAX will take you for a spin....Game over....You will be stuck for weeks and months....Going back and forth with emails. They will ask you every stupid question to prove... If the funds in your own account...Really belong to you that were wired from your own local bank account. What a joke???
This is how they try to keep your money. I am sure they were successful with taking money from other innocent traders with their threatening emails. But not me....
When you request a normal withdrawal...Or profit withdrawal...Their "In-house Compliance LMAX employees"... Will ask every private confidential bank document from you, all the way to your house keys, to prove that the funds in your own account really belong to you, in the name of "money laundering".... Yes you heard me right...That's the "word" they use to keep money, pretending and acting like they are the U.K. Government.....
The moment you start making profits...And request withdrawal..., suddenly your own money is looked upon as "money laundering"....What a clever way to take money from traders.
They will find every excuse in their "terms and conditions to stop, freeze, block and take your funds from your own account, to avoid paying out your withdrawal request, till they feel satisfied that they received all your confidential documents.
Who knows... What they do or who they sell all these confidential documents that they receive? They are just normal employees of a company hiding behind computer screens... You are voluntarily forced to give confidential documents so you can get your own funds back from them. There is no data protection for the clients with LMAX.
The employees at LMAX don't use real names during emails. They use "fictitious first names" with no surnames. Very crafty.
The ceo of lmax - David Mercer is simply beyond pompous...And will sell you the moon with his sales pitch tactics. He will sell you on the idea of how many billion dollar trades per day.....Move through their exchange....With 0 (zero...) proof....No transparency.... It makes him feel he is on top of the world. A lonely lost soul.... Few years ago David Mercer was going on and on and on.... Saying how his special "lmax disruptive market technology" is so unique. Truth be told, my trouser zipper didn't pop or break with his disruptive technology.
If...Billion dollar trades are flowing per day... Through their exchange and if they are making so much commission on it, then why are they trying to take money from every traders account, every time a trader puts in a request for withdrawal by using the word "money laundering"???
Think about it and beware of their conniving tactics before opening live account with them.

Feb 27, 2021 - 1 Star 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.

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.

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.

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.

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..

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
were COMPLETELY FREE
they have charged me € 17.44 on outcoming transfer.
Each one could draw own conclusions about the seriousness of these "gentlemen"

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.

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!

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