USD 10 000
MetaTrader 4, MetaTrader 5
LMAX Exchange Fees Spreads and commissions are not fixed but determined by trading activity, the typical spreads are between 0.1 to 0.2 pips.
LMAX Exchange does not charge any deposit fees or withdrawal fees. LMAX Exchange also charges an inactive fee of $50 per month.
LMAX Exchange has an incredibly competitive spread when compared to what other brokers offer by offering a spread list which can change daily depending on market conditions.
Traders who open an LMAX Exchange Global Account qualify for commission rate structures that are competitive depending on the level of trading activity.
Traders have two options regarding accounts and although no account comparison can be done, the difference between them is quite distinctive. The LMAX Exchange Global Account has the following features:
- Caters for broker-dealers, money managers, MT4 and MT5 brokers, and professional traders
- Tight spreads
- Over 100 financial instruments
- Strict price and/or time priority order matching
- Real-time reporting as well as reconciliation
- Competitive commissions as well as overnight financing rates
- Clearing via a margin account
- Global Liquidity pools
The LMAX Exchange Corporate account is intended for corporations that want to open an account through which they trade various financial instruments, there is little to no information regarding the features or benefits of using this account.
The maximum leverage that traders qualify for is not indicated but according to FCA regulations, EU clients are only eligible for leverage up to 1:30 when trading Forex majors.
The minimum deposit that LMAX Exchange requires to open an account is US Dollar 10,000 which indicates the professional level required to trade through this broker.
Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.
Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.
There is no indication of whether LMAX Exchange offers the option of an Islamic account to traders who are of Muslim faith and who operate under Sharia Law.
LMAX Exchange does not offer traders spread betting and therefore spread betting fees do not apply to this broker.
USD 10 000
MetaTrader 4, MetaTrader 5
LMAX Exchange does not charge any deposit fees or withdrawal fees.
There is a dormant accounts fee of US Dollar 50 for retail clients and US Dollar 100 for corporate accounts should the account remain inactive for six consecutive months.
Traders will have to verify the possibility of additional fees with the broker before applying for an account.
Traders are advised to ensure that there are no fees waived by their payment provider in terms of depositing funds from their bank account to their trading account in addition to transaction costs when withdrawing funds and having it transferred to their bank account.
Pros and Cons
|Tight and competitive spreads||The broker only caters to institutional, corporate, and professional traders.|
|Commissions according to trading volumes|
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How many instruments can I trade with LMAX Exchange?
You can trade the following instruments:
- Commodities, and
Which platforms are supported by LMAX Exchange?
LMAX provides the following popular trading platforms:
- FIX 4.4
- Web GUI
- Mobile Apps
- MetaTrader 4 and MetaTrader 5 bridges
Does LMAX Exchange offer leverage?
The leverage levels are not indicated on the website. LMAX Exchange is regulated by the FCA and CySEC, which typically means that EU clients may only be eligible for leverage up to 1:30 while traders in other regions qualify for more.
What spreads can I expect with LMAX Exchange?
Spreads are typically from between 0.1 to 0.2 pips.
Does LMAX Exchange charge commission?
Commissions are not fixed and will be determined by the trading volume and activity.
Is LMAX Exchange regulated?
Yes, LMAX Exchange is regulated by the highly reputed CySEC in Cyprus, and the FCA in the UK.
Is LMAX Exchange a recommended forex trading broker for experts and beginners?
No. LMAX Exchange only caters for expert and professional traders.
What is the overall rating out of 10 for LMAX Exchange?