Lmax.com Review

LMAX is a CFD exchange, so they claim to never take the other side of your trade. The spread on Euro/USD can be as low as 0.1 pips and rarley higher than 0.5 pip. Execution is fast and support is excellent. Have been using for several months now and as they act like an exchange , have been getting great fills and exit. Recommended, but not vailable in US as far as I know.,

I've been with LMAX for 10 months now, and should have put a review up ages ago. I am very happy with their service. Execution is brilliant- no requotes, and fast fills. The only downside is the webtrader platform is a bit basic, and charting not great, but for pure execution they are miles better than anything else I've tried. Highly recommended!

So far so good; instant withdraw etc. but a few pips of slippage might occur even in small lots on limit/stop orders

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.

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

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.

Even after submitting and re-submitting required documents, application was rejected. Wastage of time.

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

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.

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.