Lmax.com Review

3.197 • 20 REVIEWS
Updated: Jun 19, 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: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

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

Trading Conditions

EAs/Robots: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
PAMM: ✅ 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

Israel, Israel,
Dec 9, 2014,

Lmax will not appreciate you business. That is being said to me with these words exactly.
Along the years I was Lmax partner, retail trader and corporate account holder.
no mater what hat I had with them, Lmax always reply with mannered hostility, throw responsibility back you, and show no appreciation for your business with them.

Maybe they are not the nicest people to work with, but same with the technology they provide. In summery lmax provide lowe technology service for traders, for partners (no back office) and for clients.
Their MT4 platform is by buggous bridge solution, unstable and very fragile.
their native platform is very basic GUI.
Lmax provide lower count of trading instrument, even lower on their MT4. where with MT4 they use extension .lmx which makes it difficult to load charts history onto your station.

Only advantage lmax is famous for is their low trading commissions, but one should note that swaps rate are relatively expensive then other brokers

After being proven again, again and again with the same symptoms along few years, I decided to stop my activity with this. For me low commissions are not worth low quality on everything else.
Song Rui
Beijing, China,
Oct 5, 2014,

a very strong forex broker with FCA, I love his java and .net API (I'm a programmer :P). one of few brokers have USD/CNH, I play it. Minimal deposit need 10000 USD, it's too much.I open an account by IB,minimal deposit is 1000USD(IB in China). Overall Lmax not bad.
Germany, Germany,
Jul 13, 2014,

I like LMAX a lot, execution is lightning fast - often feels faster then Futures. Spreads are great, not only on Majors. Slippage can happen during news, but that´s normal. I like the new approach on FX Trading. Wires are fast and low cost.
Lorenz V.
Germany, Germany,
Jul 8, 2014,

Unfortunately they are not a real exchange which "just matches orders" as they pretend. You are NOT welcome there if you make profits during news trading - just like at the old market maker brokers, and even those don´t forbid news trading nowadays.

But to make it short, I´ve received this nice email from LMAX:

"...There has been news trading activity on your account and you have carried this out on quite a few occasions recently. You cannot carry on news trading, so please stop this immediately or your account will be suspended if this continues.

Here are a couple of the trades you have done, that are categorized as news trading:..."

Why the heck would a EXCHANGE that just matches orders actually care about my trading style? That kills the whole approach of a neutral and just order matching exchange. Additionally they now tend to "grey out" quotes during news, so that you can´t even place orders. Unbelievable, they are history for me as they´ve completely failed to deliver what they actually want to be.
Maia, Portugal,
Apr 28, 2014,

I was the customer LMAX for only one month. I decided to leave because I changed my mind on the markets I wanted to negotiate.

Positives: Real very low spreads on both forex and stock indices, MT4 platform always available without breaks. The process of funding and withdrawing was swift and smooth.

Negatives: I could never work with web graphics, assistance has not solved or helped to solve, and I decided to switch to the MT4 platform. As for real time news, unfortunately they only offer the headers. I questioned them and they answered laconically that was not part of the service to show the full story.

In conclusion: this is a serious institution but on balance deserves only three stars. I got the impression that they are only focused on big institutional clients, so, private customers are only tolerate because they are helping to increase their visibility at this stage.
Michael Paske
London, United Kingdom,
Feb 22, 2014,

By far the best broker I have come across. Fast execution, great spread and a pleasure to work with.
, United Kingdom,
Dec 15, 2013,

Even after submitting and re-submitting required documents, application was rejected. Wastage of time.
Joao Santos
Goiania, Brazil,
Jun 3, 2013,

I believe that Gap's comment on "trades in Eur/Usd with no problems for 1-2 Mio notional trades, just 1-2 decimals (5th position) slippage after the first 50-100 contracts" reflect only trades done on the default platform. Trades done on MT4 terminal do not enjoy such low slippage. If anyone can confirm this, please do so. It uses the PrimeXM FX Bridge. I`ll give four stars because I believe its MT4 isn't as sharp as the traders platform.
London, United Kingdom,
Feb 20, 2013,

Best forex broker in the UK by far. Fast execution. No requotes. Small spread but also commission. Very good customer service. Fsa regulated.

Cons: Very limited historical data available for FX which is bloody annoying.

Several IB brokers for Lmax including fastbrokers in the USA
, Italy,
Jan 14, 2013,

Really works as an exchange with excellent pricing and fastest execution. I am a professional trader and use LMAX for my personal trades in Eur/Usd with no problems for 1-2 Mio notional trades, just 1-2 decimals (5th position) slippage after the first 50-100 contracts.
Tried most brokers on the market and this is by far the best one.
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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.