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LMAX Sign Up Bonus

LMAX Sign Up Bonus

 

Overall Rating

4.6/5

Rated #48 of
Recommended FX Brokers

💰Minimum Deposit

USD 10 000

🌐 Regulators

FCA, CySec

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

No, an LMAX sign-up bonus is not offered for first-time sign-ups or beginner traders.

Traders who register a real account with LMAX are not offered either a first-time sign-up bonus, a deposit bonus, or a welcome bonus.

Brokers often offer these broker bonuses to new traders to draw in more customers in addition to encouraging trading activities. Offering a deposit or welcome bonus is the best way in which to assure traders that they will receive some money back depending on the initial deposit made.

Various brokers also offer no deposit bonuses to traders in the same effort to draw in more customers and bonuses like this may aid not only the broker in acquiring new clients but also traders who have strict budgetary restrictions.

Although LMAX does not offer bonuses, rewards, promotions, or competitions traders should not be discouraged by this from registering for a real account as bonuses may still be in planning and development phases to be announced at a later stage.

 

Referral Bonus

LMAX does not currently offer referral bonuses to new or existing traders who make use of the products and services offered by LMAX.

Referral bonuses are offered by brokers to traders in an attempt to draw in new clients and expand their customer base.

Often these types of bonuses have strict criteria that will have to be fulfilled before the trader can benefit from referring a friend or family member.

 

Some of the criteria include, but is not limited to:

  • The referral has to register a real account with the broker using a unique referral link so that the registration can be traced back to the trader.
  • The referral bonus is only applicable should referrals register a real account as these bonuses are not available when using a demo account.
  • A certain minimum deposit amount has to be made by the referral.
  • The referral may be required to execute a certain number of trades on the new account before the trader becomes eligible to receive the referral bonus

 

Referral bonuses may also have a limited time in which they can be utilized by traders, perhaps in a given month that brokers see a decrease in activity and attempt to counter it by providing such bonuses.

 

Overall Rating

4.6/5

Rated #48 of
Recommended FX Brokers

💰Minimum Deposit

USD 10 000

🌐 Regulators

FCA, CySec

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Additional Bonuses, Promotions and Rewards

LMAX does not currently cater for trading bonuses and there are no current initiatives to reward loyal customers.

Trading bonuses serve the purpose of encouraging traders to increase their trading activity in addition to trading higher volumes to gain access to bonuses that offer some cashback.

 

Pros and Cons

✔️PROS CONS
Comprehensive and competitive trading conditions despite lack of bonuses and rewards Welcome bonus, deposit bonus, no deposit bonus, and no other broker bonuses offered with first time sign up
No referral bonus offered
No trading bonus for loyal customers

 

You might also like: LMAX Minimum Deposit

You might also like: LMAX Demo Account

You might also like: LMAX Fees and Spreads

You might also like: LMAX Account Types

 

Conclusion

LMAX does not make provisions for bonuses or rewards. Furthermore, this broker caters specifically to institutional and professional clients and is not recommended for beginner traders.

The comprehensive trading conditions are specifically designed for use by professional traders who trade high volumes at a given time.

 

FAQs

 

Does LMAX charge commission?

Yes. Commissions are not fixed and will be determined by the trading volume and activity.

 

Are there additional charges on the Islamic account?

No. LMAX does not offer Muslim traders the option of converting their live trading account into that of an Islamic Account.

 

Is LMAX regulated?

Yes. LMAX is regulated and authorized by FCA as well as authorized by CySEC.

 

Is LMAX a recommended forex trading broker for experts and beginners?

No. LMAX only caters to expert and professional traders.

 

What is the overall rating out of 10 for LMAX?

7/10.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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