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A cost-effective, efficient way to trade FX

Precise, consistent and reliable FX order matching with liquidity from top tier banks and proprietary trading firms

Complete pre and post-trade transparency

A limit order driven, open order book shows market depth - up to 20 levels via FIX

A level playing field for all FX participants

Strict price/time priority order matching ensures neutral, orderly trade execution

FX and CFDs are leveraged products that can result in losses exceeding your deposit.
They are not suitable for everyone so please ensure you fully understand the risks involved. View full risk warning

Optimised, exchange quality FX execution

The unique LMAX Exchange business model addresses the fundamental changes happening within the FX market, and solves two key industry problems:

  • Lack of transparency of the true cost of OTC traded FX
  • Lack of precise, consistent & reliable FX trade execution

LMAX Exchange delivers conflict free, neutral execution and transparent cost of trade to both, the buy-side and sell-side. LMAX Exchange is not a market-maker, and unlike some ECNs, the open order book is driven by streaming, non ‘last look’ limit orders supplied by top tier banks and institutional liquidity providers.

LMAX Exchange - precise, consistent and reliable

Unparalleled execution quality - average trade latency is 4 ms more

With an internal latency of 500 micro seconds, we deliver consistent and precise quality of execution which radically improves participants’ best execution objectives. close

Award-winning FX trading venue - recognised for excellence and innovation more

Our proprietary trading technology is recognised for excellence and innovation.

  • 2014 Best FX Trading Venue – ECN/MTF – WSL Institutional Trading Awards
  • 2014 Best Infrastructure/Technology Initiative by Exchange/ATS – WSL Institutional Trading Awards
  • 2013 #15 Fastest Growing Tech Company in the UK – Sunday Times Tech Track 100
  • 2013 Best Overall Testing Project in Finance – The European Software Testing Awards (TESTA)
  • 2013 Best Margin Sector Platform – Profit & Loss Readers' Choice Awards
  • 2013 Best FX Trading Platform - ECN/MTF – WSL Institutional Trading Awards
  • 2013 Best Execution Venue – Forex Magnates
  • 2011 Best Trading System – Financial Sector Technology Awards
  • 2011 Innovative Programming Framework – Oracle Duke's Choice Awards

Our technology combined with our unique business model, creates a level playing field for ALL clients, regardless of status, size or activity levels - learn more

Pre & post-trade transparency - an open order book with no ‘last look’ more

Streaming limit orders are supplied by our General Members, so you’ll know the price and true cost of trade for every one of your matched orders. close

Strict price/time priority matching - totally neutral trade matching

Trading anonymity - matching buyers to sellers anonymously more

Anonymous trading ensures conflict free and neutral execution with ALL participants receiving the same speed, price and reliability, pre and post-trade without favour. close

LMAX Exchange - connectivity and access

LMAX Exchange supports all the FX trading strategies of both, buy-side & sell-side trading institutions through either API or manual trading.

  • Connectivity: Cross connect at Equinix LD4/5, PoP at Interxion, Extranet and Internet more
  • Access: API (Java & .Net), FIX 4.4, Web GUI, Mobile, MT4/5 Bridges, MultiCharts

LMAX Exchange - latest statistics

LMAX Exchange is NOT quote driven. We only match client orders against streamed, no 'last look', limit orders from our liquidity providers - with all spreads set also by the market not LMAX Exchange.

  • Examine our historical spreads here
  • Examine our execution performance here

LMAX Exchange - listed in The Sunday Times Tech Track 100

LMAX Exchange has been ranked number 15 in the 2013 - Sunday Times Tech Track 100.

The Sunday Times Tech Track 100 is a league table of Britain’s fastest-growing private technology companies, ranking them based on their growth in sales over the last three years of available data.

The FX marketplace is undergoing unprecedented change: with the LMAX Exchange trading model challenging established FX practices through complete pre and post-trade transparency, whilst matching the reliable, precise execution available in other asset classes.

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