LMAX Exchange review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
LMAX Exchange suits experienced traders who already know their way around forex, CFDs and crypto, and it asks for a minimum deposit of $1,000. Deposits and withdrawals carry no charges, and balances sit under FSCS protection, though the platform is built for active traders rather than newcomers.
Key facts
- Best for
- Experienced traders in forex, CFDs or crypto who want free deposits and free withdrawals.
- Minimum deposit
- $1,000↗
- Markets
- Forex, CFDs, Crypto↗
- Regulators
- FCA, CySEC↗
- Investor protection
- FSCS up to GBP 85,000↗
- Retail accounts that lose money
- 67.64%↗
- Deposit and withdrawal fees
- No deposit or withdrawal fees↗
- Platforms
- LMAX Global, MetaTrader4↗
- Headquarters
- United Kingdom↗
- Founded
- 2010↗
- Support channels
- Phone, Chat↗
- Features
- Custodial
- Audience
- Experienced traders
- Official website
- lmax.com
Crypto exchanges
Facts checked September 26, 2026, 6 sources
Pros and cons
Pros
- Regulated by the FCA and CySEC, with balances covered by the FSCS up to the scheme's stated limit.
- You pick your interface from LMAX Global and MetaTrader4, and support runs on phone and chat for live market questions.
- A single account covers forex, cfds and crypto, so you can move between asset classes without changing provider.
Cons
- The minimum deposit of $1,000 is high for anyone starting with a small balance.
- Support runs on phone and chat only, so there is no listed email channel.
- The crypto line-up is short at 16 coins, so a large token basket is out of reach.
Who it suits
- Experienced traders who already work in forex, cfds and crypto and want a regulated venue with FSCS cover.
- Active crypto traders who care about the maker and taker split, 0% to 0.02% against 0.03% to 0.06%.
- People who want a choice of platform, since trading runs on LMAX Global and MetaTrader4.
Who should look elsewhere
- Newcomers to trading, who would rather start with a simple everyday account such as bunq at €10 than the experienced traders LMAX Exchange is built for.
- Traders testing with a tiny stake, since the $1,000 minimum here sits well above the $0 minimum at CFI.
Fees and currency costs
The minimum deposit is $1,000, and that figure is the main thing to check before opening an account. There are no deposit or withdrawal fees, so the balance you send in is the balance that arrives. For a broker, that makes the entry point and the cost of funding the account the two numbers worth reading before anything else.
Who runs it
The head office is in GB and the firm has traded since 2010, so this is an established operation rather than a new name. Support runs on phone and chat. For active traders that is the useful pair: a voice call or a live chat during a market move, rather than a queue of email replies.
How LMAX Exchange compares
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Where LMAX Exchange is available
Frequently asked questions
What is the minimum deposit at LMAX Exchange?+
The minimum deposit is $1,000, and there are no deposit or withdrawal fees, so the balance you send in is the balance that arrives. That starting amount, rather than a trading fee, is usually the reason a small account stays unopened here.
Is my money protected and who regulates LMAX Exchange?+
LMAX Exchange is regulated by the FCA and CySEC, and balances are covered by the FSCS up to the limit the scheme states. An eligible claim then sits with the compensation scheme rather than with the firm alone. Read the scheme's own terms to see what counts as an eligible claim.
Which markets can I trade on LMAX Exchange?+
The forex, cfds and crypto desks sit under a single account, so you can move between currency pairs, leveraged contracts and digital assets without changing provider. All of them are leveraged markets, so the loss warning below applies to the account as a whole.
What do trades cost on the crypto side?+
Crypto trading charges a taker fee of 0.03% to 0.06% and a maker fee of 0% to 0.02%, so the cost depends on whether your order adds or removes liquidity from the order book. The list covers 16 coins, a focused line-up rather than a long one. Run those figures against your intended trade size.
Who holds the crypto I buy?+
The crypto side is custodial, so the provider holds the assets for you rather than handing over keys, and the platform runs as a central exchange, cex. That is the usual setup for anyone who wants a normal account. Keep it in mind if you had planned to hold outside the platform.
How do I contact LMAX Exchange support?+
Support runs on phone and chat, so a phone line and live chat are the listed routes. Both suit a trader who needs an answer while a position is open. Email is not among them, so keep your own notes if you want a written record of a conversation.
Do most retail clients lose money trading here?+
The stated retail loss figure is 67.64%, in line with the wider leveraged market. That is the most useful number here for deciding whether an account is for trading or for saving. It is a market-wide warning about this kind of trading rather than a score for the firm.
Sources
- lmax.com/global/trading checked September 26, 2026
Backs: Audience, Markets, Support channels
“The information on this website is only directed at Professional clients”
- lmax.com/global/uk/new-clients checked September 26, 2026
Backs: Retail accounts that lose money
“67.64% of retail investor accounts lose money when trading leveraged products with LMAX Global”
- lmaxdigital.com checked September 26, 2026
Backs: Exchange type, Features
“LMAX Digital is the institutional spot crypto currency exchange”
- lmaxdigital.com/trading checked September 26, 2026
Backs: Coins listed, Maker fee, Taker fee
“SOL, LINK, PYTH, UNI, AAVE, DOGE, CC, PAXG, RLUSD, USDT, TRX (against USD); BTC, ETH, XRP, LTC, BCH”
- wikifx.com/en/compare/jfd-vs-lmax-global.html checked September 26, 2026
Backs: Deposit and withdrawal fees, Minimum deposit
“LMAX does not charge any deposit or withdrawal fees”
- wikifx.com/en/dealer/0001815826.html checked September 26, 2026
Backs: Founded, Headquarters, Investor protection, Platforms, Regulators, Licences
“Founded 2010”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Stock trade fee, Account fee, Inactivity fee.
LMAX Exchange
Experienced traders in forex, CFDs or crypto who want free deposits and free withdrawals.