Account FAQs
How do I open an account?
You can apply for an LMAX account online here.
If you require a Corporate Account application form or would like to become an LMAX Partner, please call our client helpdesk on 0333 700 1000 or email info@lmax.com for more information.
We will try to validate your account electronically, but will occasionally require some additional supporting documentation.
We will notify you by email as soon as your account is open and ready to start trading.
What is the minimum account size?
The minimum deposit to your account will depend on the type of account you open. Please see below the different account types:
Classic Account - $10,000 minimum initial deposit, or your base currency equivalent.
Premium Account - $50,000 minimum initial deposit, or your base currency equivalent.
Professional Account - $250,000 minimum initial deposit, or your base currency equivalent.
How do I fund my account?
LMAX currently offers base currencies in GBP, EUR,USD and AUD. We accept funds via bank transfer and debit/credit card.
What are your spreads and trading costs?
Spreads
Due to the nature of our neutral and transparent trading venue, spreads are variable. To view our historical average weighted spreads, please click here
Commissions
Our standard commission structure is as follows:
- FX : $25 per million based on notional traded amount (or $0.25 per $10,000 contract). Minimum commissions apply to FX trades that are less than 1 standard lot. Please refer to Instrument information on the LMAX Exchange trading platform for further details.
- CFDs:
- GBP traded instruments: £0.25 per contract traded; subject to a minimum £0.50
- EUR traded instruments: €0.30 per contract traded; subject to a minimum €0.60
- USD traded instruments: $0.40 per contract traded; subject to a minimum $0.80
Premium and Professional Account holders are eligible for tailored commission rates based on trading volumes. Please contact info@lmax.com to discuss potential discounts based on trading volume.
Overnight financing
Classic accounts
| Instrument | Reference rate | Financing margin |
|---|---|---|
| All rolling spot FX crosses | Wholesale roll | +/-1.0% |
| CFDs | LIBOR | +/-2.5% |
Premium accounts
| Instrument | Reference rate | Financing margin |
|---|---|---|
| All rolling spot FX crosses | Wholesale roll | +/-0.5% |
| CFDs | LIBOR | +/-2.0% |
Professional accounts
| Instrument | Reference rate | Financing margin |
|---|---|---|
| All rolling spot FX crosses | Wholesale roll | +/-0.3% |
| CFDs | LIBOR | +/-1.5% |
What instruments can I trade?
LMAX offers a wide range of instruments to trade, including:
- Over 50 rolling spot FX pairs with low margin requirements and competitive commission charges
- Over 20 CFDs in spot indices, commodities and commodities futures
*Available in January 2012
How can I trade?
There are number of ways to trade directly on the LMAX Exchange:
- Through the LMAX Trader UI
- Via API (Java, .NET, FIX 4.4)
- Mobile application - currently supporting the iPhone and Blackberry
- Via LMAX MultiCharts
What service will I receive?
Here at LMAX, we recognise that not every trader is the same and has different service requirements. That’s why LMAX offers bespoke service level to each account type:
- Classic account: access to the Account Management team
- Premium account: prioritised access to the Account Management team and API Technical Support
- Professional account: access to a Personal Account Manager
What customer support is available?
Our client helpdesk offers 24-hour support from Sunday 22.00 – Friday 21.30 GMT.
You may contact us during this period by calling 0333 700 1000 / +44 (0) 203 192 2555, via the Live Chat function on our website or by emailing info@lmax.com.
We offer support in a variety of languages and continue to grow regionally to provide the utmost support to our clients.