MetaTrader 4
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LMAX GROUP
Warning
Warning
United Kingdom Founded 2010
LMAX Group is a financial-technology group operating electronic execution venues and brokerage services for institutional and retail clients across foreign exchange and digital-asset markets.
Check the contracting entity, region and current official terms before opening an account.
XRAY Review
Neutral
LMAX Group: strong transparency and fund-security evidence, but a upheld suitability complaint and lower regulatory score warrant caution.
LMAX Group is a United Kingdom-headquartered broker group founded in 2010, operating through two active legal entities: LMAX Broker Limited (United Kingdom, FCA-regulated) and LMAX Broker Europe Limited (Cyprus, CySEC-regulated). The overall rating of 7.53 is supported by strong scores for transparency (9.25) and fund security (10), and a solid risk-control score (7.5678). The regulatory dimension is lower at 5.25, reflecting that only two licences are present and that the strongest licence score is 5. The brand and its legal entities are distinct: the level of protection available depends on which entity the customer contracts with.
The evidence includes one high-severity complaint, upheld by the Financial Ombudsman Service, concerning an incorrect elective professional client classification. The Ombudsman found that the client did not meet the required quantitative criteria and that the qualitative assessment was inadequate, and directed LMAX to recalculate trades as if the client had been a retail client. This is a confirmed adverse finding and should be weighed alongside the broker's generally strong institutional metrics.
Execution-quality evidence is mixed: median ping is reported at 84 ms across 61 latency samples, but MT4 average ping is 4538 ms while MT5 average ping is 124 ms, and the execution-quality confidence is 0.65. Risk-exposure confidence is 0.70, based on one approved record and one distinct source with a penalty of 0.826. The balanced picture does not support an unequivocally positive or negative stance.
- Generated
High transparency score
The transparency dimension is rated 9.25 with full confidence, indicating two entities, complete entity records, and an active official website. This supports clarity about the corporate structure.
Strong fund-security indicators
Fund security scores 10 with full confidence, based on two verified entities, segregated-account records, investor-protection records, and a fund-complaint score of 10. These are institutional indicators, not a guarantee of withdrawals or returns.
FCA and CySEC regulated entities
LMAX Broker Limited is regulated by the FCA and LMAX Broker Europe Limited by CySEC. Both regulators are recorded as providing negative-balance protection, investor protection, and segregated accounts. Protection depends on the entity the customer contracts with.
Solid risk-control score
The risk-control dimension is 7.5678 with 0.80 confidence, supported by a maximum leverage record of 200 and a risk-control complaint score of 9.17. This reflects the available institutional evidence, not market risk.
Upheld suitability complaint
A high-severity complaint was upheld by the Financial Ombudsman Service: LMAX Broker Limited wrongly categorised a client as an elective professional client, allowing higher leverage and losses. The Ombudsman found the quantitative criteria were not met and the qualitative assessment inadequate, and directed trade recalculation as a retail client. This is a confirmed adverse finding.
Lower regulatory dimension score
The regulation score is 5.25, reflecting only two licences, no adverse licences, and a strongest-licence score of 5. The score is authoritative and indicates a more limited regulatory evidence base than the fund-security and transparency scores.
Mixed execution-quality evidence
Execution quality scores 6.56. Median ping is 84 ms across 61 samples, but MT4 average ping is 4538 ms while MT5 is 124 ms. Confidence is 0.65 and there are no account-environment samples. This warrants verification rather than assumption.
Limited risk-exposure evidence
Risk exposure scores 7.9218 with 0.70 confidence, based on one approved record and one distinct source, with a penalty factor of 0.826. The evidence base is narrow, so the dimension should be interpreted with caution.
- Confirm which legal entity (LMAX Broker Limited or LMAX Broker Europe Limited) would be your contracting party, and verify its current regulatory status directly with the FCA or CySEC.
- Ask the broker whether you would be classified as a retail or professional client, and request the specific quantitative and qualitative criteria applied.
- Request written confirmation of negative-balance protection, segregated-account arrangements and any investor-protection scheme applicable to your contracting entity.
- Test platform latency and order execution on your own connection and region before relying on the reported execution-quality metrics.
- Review the Financial Ombudsman Service decision referenced in the evidence and ask the broker what changes were made after the upheld complaint.
- Clarify the maximum leverage available to your account type and entity, and understand how margin requirements would differ under retail versus professional classification.
This AI review summarizes the structured public evidence currently available. It may omit recent changes and is not investment, trading, or account-opening advice. Always verify the contracting entity, licence, and customer agreement independently.
Accounts and trading
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Entities and regulation
Check the contracting entity, region and current official terms before opening an account.
Related entities 3
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A licence record applies to its named entity and authorised scope.
- Full company name
- LMAX BROKER LIMITED
- Country / region
- United Kingdom
- Founded
- 2017-06-14
- LEI
- 213800FIDYGIQ9SJPK78
- Registered address
- C/O Lmax Limited Yellow Building,1a Nicholas Road,London,W11 4AN,United Kingdom
- Status
- Active
Financial Conduct AuthorityFCA
Licence status: Active
- Licence number
- 783200
- Verification status
- Verified
- Licence type
- FCA authorisation
- Effective date
- 2017-12-15
- Last checked
- 2026-09-27
Business permissions 4
- Deal in investments as principal
- Agree to carry on regulated activities
- Make arrangements
- Arrange deals in investments
Regulatory restrictions and requirements
- Financial promotion requirement
A licence record applies to its named entity and authorised scope.
- Full company name
- LMAX BROKER EUROPE LIMITED
- Country / region
- Cyprus
- Founded
- 2015-08-31
- LEI
- 2138009PHMXEMQXOGI34
- Registered address
- Ευαγόρα Παπαχριστοφόρου, 10,,SEMELI BUSINESS CENTER, Flat/Office 101,3030, Λεμεσός, Κύπρος,Cyprus
- Status
- Active
Cyprus Securities and Exchange CommissionCYSEC
Licence status: Active
- Licence number
- 310/16
- Verification status
- Verified
- Licence type
- Cysec Cif Authorisation
- Effective date
- 2016-08-08
- Last checked
- 2026-09-27
Business permissions 5
- Receive or transmit orders
- Execute orders
- Safekeeping And Administration
- Granting Credits Or Loans
- Foreign exchange services
A licence record applies to its named entity and authorised scope.
- Full company name
- LMAX LIMITED
- Country / region
- United Kingdom
- Founded
- Not disclosed
- LEI
- Not disclosed
- Registered address
- Not disclosed
- Status
- Unknown
Financial Conduct AuthorityFCA
Licence status: Active
- Licence number
- 509778
- Verification status
- Verified
- Licence type
- FCA authorisation
- Effective date
- 2010-07-27
- Last checked
- 2026-09-27
Business permissions 10
- Safekeeping / safe custody
- Foreign exchange services
- Receive or transmit orders
- Placing without a firm commitment
- Operation of MTF
- Operating a Multilateral Trading Facility (MTF)
- Arrange deals in investments
- Make arrangements
- Sending dematerialised instructions
- Agree to carry on regulated activities
Regulatory restrictions and requirements
- Cannot hold client money
- Financial promotion requirement
User rating
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Risk watch
No recent risk signals
Observation · not a safety ratingReading note · Scores reflect available evidence. Recent risk signals are not a safety rating. Check the source, date, and contracting entity.
Insights
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Standard Chartered launches RLUSD custody; LMAX Group and Ripple plan RLUSD collateral integration
Standard Chartered's institutional custody of RLUSD on the XRP Ledger is now live through its DIFC Branch, regulated by the Dubai Financial Services Authority. LMAX Group, Ripple and Standard Chartered separately intend to make RLUSD eligible collateral for agreed LMAX Group products and to extend Standard Chartered's collateral mirroring model to LMAX, subject to documentation, testing and approvals.
LMAX Group integrates Deltix to give institutional clients perpetual futures access
LMAX Group said on 29 September 2026 that it has integrated Deltix, part of EPAM Systems, to enable institutional clients to access and trade its perpetual futures through Deltix's MarketMaker and CryptoCortex platforms, extending a connectivity relationship the companies describe as spanning more than six years across LMAX FX and spot crypto venues.
LMAX Group reports record $5.3trn H1 2026 volumes as adjusted gross profit rises 51%
LMAX Group reported adjusted gross profit of $75m, up 51% year on year, and adjusted EBITDA of $33m for the first six months of 2026, alongside record group trading volumes of $5.3trn. The group said first-quarter activity was heightened by market volatility and normalised in the second quarter, as expected.
LMAX Group names Standard Chartered as digital asset custodian in DIFC and Luxembourg
LMAX Group has appointed Standard Chartered as its digital asset custodian through the bank's DFSA-regulated DIFC Branch and Standard Chartered Luxembourg S.A., becoming the first client on the Luxembourg custody platform after its June 2026 MiCA authorisation. The firms are also exploring off-exchange custody, without a launch date.
Omnia by LMAX Group partners with Monavate on digital asset payment and settlement infrastructure
Omnia Exchange, the institutional liquidity and execution infrastructure powered by LMAX Group, announced on 5 August 2026 a partnership with Monavate to support more efficient digital asset payment and settlement for businesses operating globally. Monavate can now access LMAX Group’s institutional liquidity and execution infrastructure through a single API connectivity layer.
LMAX Group and Standard Chartered execute first live digital asset prime brokerage trades
LMAX Group said it executed the first digital asset prime brokerage trades with Standard Chartered, a pilot covering Spot Bitcoin (XBT/USD) and Ether (XET/USD) with T+1 settlement through the bank's UK branch. Trades ran on LMAX Digital, with Standard Chartered Prime Brokerage acting as credit intermediary.
Company and services
LMAX Group is a financial-technology group operating electronic execution venues and brokerage services for institutional and retail clients across foreign exchange and digital-asset markets.
- Full company name
- LMAX Group
- Founded
- 2010-01-01
- Registered address
- Yellow Building, 1A Nicholas Road, London W11 4AN
- Supported languages
- English