LMAX Exchange Review

LeverageUp to 1:200
Minimum Deposit$10,000 (or $1000 exclusive Offer)
Minimum Lot Size0.01 Lots (Micro)
Broker TypeNDD
Deposit methodsCredit Cards; Bank Wire
Spreads/CommissionCommissions Only
Trading Instruments70 (Fx/Equity/Bullion)
Trading PlatformMT4/5, Multicharts, API, Web based
RegulationFCA, UK

For traders who are looking for institutional quality, no dealing desk execution, LMAX exchange offers a perfect trading environment. LMAX Exchange is registered with the FCA (Registration number 509778) with its offices registered in England and Wales. LMAX Exchange is the first one of its kind true MTF (Multilateral Trading Facility) and is a liquidity provider for many retail forex brokers, thus ensuring tight spreads even during early Asian sessions.

LMAX Exchange is listed in ‘The Sunday Times Tech Track 100‘ and has won many awards including

  • 2013 Best Margin Sector Platform – Profit & Loss Readers’ Choice Awards
  • 2013 Best FX Trading Platform – ECN/MTF – WSL Institutional Trading Awards
  • 2011 Best Trading System – Financial Sector Technology Awards
  • 2011 Oracle’s “Duke’s Choice” Innovative Programming Framework Award
LMAX Exchange - MTF
LMAX Exchange – MTF Courtesy – LMAX Exchange

LMAX Professional – Benefits

Unparalleled exchange quality execution more

Powered by the award-winning technology from LMAX Exchange, LMAX Professional ensures all participants receive exchange quality execution – ALL orders are matched and processed with superior speed and efficiency, without exception, on a strict price/time priority basis with no ‘last look’ rejections

Firm limit order liquidity with no ‘last look’ rejections

LMAX Professional runs an open order book (up to 20 levels of depth via FIX), driven by streaming no ‘last look’ limit orders supplied by liquidity providers, ensuring transparent price discovery and true cost of trade for every matched order. Market participants are free to enter their interest to be worked in the market

Complete trading anonymity

LMAX Professional simply matches buyers with sellers, within an anonymous trading venue – anonymous trading ensures conflict free and neutral execution for ALL participants.

Low latency execution and MM Allocation

ALL orders are matched with an average speed of 4ms while providing money managers with tools for trade allocation on behalf of their client. Whether clients seek clearing via a margin account or prefer to use existing Prime Broker relationships, LMAX Professional offers a complete range of clearing solutions to suit clients’ requirements.

Open an LMAX Account for only $1000 by clicking here. Trade with MT4 or LMAX Web Trader

LMAX Exchange – Trading Instruments & Conditions

LMAX Exchange offers over 70 trading instruments including Forex, Bullion, Equity and Commodity markets. The Forex market instruments also includes exotic currencies such as USD/TRY, USD/ZAR, USD/PLN, EUR/CZK, EUR/DKK and so on.

The minimum amount for opening an account with LMAX Exchange is $10,000 or its equivalent in base currency. There is a commission for trading which is at a rate of $7/million or about $0.07 for a micro lot (0.01) for EURUSD.

Refer to the table below for details on LMAX Exchange Commissions:

Pair EURUSD GBPUSD USDJPY USDCAD USDCHF NZDUSD AUDUSD
Commissions $3.5 $3.5 $3.25 $3.5 $3.5 $3.5 $3.5

 

Swaps on overnight positions are standard, for example, NZDUSD longs have a +ve swap while AUDUSD shorts have -ve swaps for overnight positions. Traders can choose to trade from a minimum of 0.01 Lot with a standard leverage between 1:1 up to 1:200

LMAX Exchange – Trading Platforms

Trading with LMAX can be done via API as well as MT4/5 Bridge connectivity, besides Multicharts trading platform.

For traders looking to trade with the MT4/MT5 trading platform, a request should be sent after signing up with LMAX exchange in order to apply for an MT4 trading platform. The trading platform for MT4 is provided by PrimeXM Bridge which allows traders to make use of the LMAX liquidity. Trading pairs are suffixed with a .lmx for MT4 trading platforms.

LMAX Exchange also provides a direct Web based trading platform as well as Andriod/iOS/Blackberry based trading apps.

LMAX Exchange – Conclusion

LMAX Exchange is definitely the best forex broker for professional traders. Operating as an MTF, LMAX exchange offers good liquidity while keeping the commissions competitive. Regulated by the FCA, LMAX exchange operates in a transparent way thus ensuring a truly professional trading environment. If you are a professional trader, LMAX Exchange makes for an ideal broker to trade with.

LMAX Exchange » Open Account