LMAX Exchange Review
Many active forex traders working in the foreign exchange market have problems with their brokers. And not always the new beginning with another brokerage company is a successful solution. This kind of ‘purgatory’ can go on and on for months preventing the trader from creating and working out a trading strategy and, ultimately, earn a profit on the foreign exchange market. It turns out that it is possible to solve the problem once and for all, if we are talking about brokers of a new class, like LMAX.
LMAX is an MTF (Multilateral Trading Facility) exchange, where all customers trade on the same conditions.
LMAX Exchange proudly presents to its traders a new model of forex trading of its own design, which many, if not all, forex brokers can only dream of.
LMAX was launched in 2010with the goal of becoming the world’s fastest financial exchange. The broker is registered in the UK. Regulated by the FSA UK. All customer accounts are on a segregated account insured by the FSA.
Trading with LMAX
Advantages frequently noted by the traders:
- regulated by FSA
- no conflict of interests
- segregated accounts
- price transparency and Market Depth (up to 20 levels)
- low spreads + small commission
- very fast execution, no more than 5 milliseconds (for ordinary DC about 1.5 seconds)
- high quality performance
Types of accounts: Standard; Premium (from $ 50,000, personal manager); Professional (about $ 250,000, personal manager).
For trading with LMAX, you can use different platforms and even APIs.
These trading platforms are available:
- MetaTrader 4
- Web platform
- Mobile (blackberry, iPhone)
- Multicharts
- it is also possible to write or integrate your own platform through free .NET, Java, JSON / XML libraries using the FIX protocol
LMAX charges a commission for each transaction.
Deposit and withdrawal options: bank payment, plastic card. Depositing and withdrawing money is conducted via bank transfer or bank card. Money can be transferred directly to the LMAX client account at National Westminster Bank.
The exchange receives numerous positive reviews. Trading Those traders who has already tried working with LMAX Exchange indicate a high level of brokerage service. Although some aactive traders on LMAX have noticed that the system ‘freezes’ at a certain time, namely at 21:59. The reason lies in disconnection of market makers happening right before the technical break. There is a small delay when the LMAX is still open, and the market makers have already disconnected. At this time, orders will not be executed.
Offers access to first-class liquidity, low spreads and ultra-fast execution
Reliability. Regulated by the FCA
Direct communication with liquidity providers
