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Do you want to know which is the better broker between LiteForex and LMAX Group ?
In the table below, you can compare the features of LiteForex , LMAX Group side by side to determine the best fit for your needs.
EURUSD:0.4
EURUSD:2.6
EURUSD:10.48
XAUUSD:24.84
EURUSD: -6.71 ~ 2.98
XAUUSD: -44.72 ~ 9.53
EURUSD:0.6
EURUSD:-1.6
EURUSD:28.92
XAUUSD:30.24
EURUSD: -7.35 ~ -2.37
XAUUSD: -14.74 ~ -11.28
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of liteforex, lmax-global lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Note: It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Registered in | Cyprus |
Regulated by | CYSEC |
Years of Establishment | 10-15 years |
Trading Instruments | Currency pairs, indices, metals, energy |
Demo Account | Available |
Minimum Initial Deposit | $10 |
Maximum Leverage | 1:30 |
EUR/USD Spread | 0.5 pips onwards |
Trading Platforms | MT4, MT5 |
Deposit & Withdrawal Method | Bank wire transfer, credit card, skrill, neteller, etc. |
Customer Service | Email/phone number/address/live chat |
Fraud Complaints Exposure | Yes |
LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, indices, and metals markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides a demo account, educational resources, and customer support in multiple languages. The company allows clients to deposit and withdraw funds via electronic transfers, bank cards, and bank wire transfers with a minimum amount of 10 USD and no extra fees.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
LiteForex is an STP (Straight Through Processing) broker that enables its clients to have direct access to interbank markets. This type of broker passes on their client's orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. LiteForex's STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs. However, since LiteForex does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders.
LiteForex offers its clients a wide range of trading markets that includes currency pairs, indices, metals, and energy. This variety of instruments allows traders to find what they want to trade on the platform, whether they are beginners or experienced traders. However, LiteForex does not offer cryptocurrencies and stocks currently.
LiteForex offers a demo account for beginners to practice trading without risking real money. For live accounts, the company provides two options: ECN and classic. The classic account has higher spreads but no commission, while the ECN account has lower spreads but a $3 commission per lot. This allows traders to choose the type of account that best fits their trading style and preferences.
LiteForex offers a maximum leverage of 1:30, which is a commonly seen level in the forex industry. Leverage is an important aspect of forex trading as it allows traders to open positions larger than the amount of money they have deposited, which can lead to higher profits with successful trades. However, it also increases risk and potential losses, especially for inexperienced traders who may be tempted to over-leverage their positions. While higher leverage can be attractive to traders with smaller capital amounts, changes in market conditions can lead to sudden losses. It is important to note that regulators may restrict leverage levels in certain regions.
Advantages | Disadvantages |
Tight and variable spreads | Lack of transparency on spread and commission information |
Competitive average spread for major currency pairs | No information on commission charges |
No hidden fees or charges |
LiteForex's information on spreads and commissions is quite limited, which may make it difficult for traders to accurately assess the cost of trading with the broker. However, LiteForex does declare to have tight and variable spreads, with an average spread of 0.5 pips for EURUSD, which is a competitive level compared to other brokers in the market. The broker also does not have any hidden fees or charges, which can be seen as an advantage for traders. However, the lack of transparency on commission charges may be a disadvantage for traders who want to have a clear understanding of all the costs involved in trading with the broker.
LiteForex offers both MT4 and MT5 trading platforms, which are widely recognized and trusted by traders in the industry. These platforms provide a user-friendly interface and a wide range of features and tools, making it easy for traders to analyze and execute trades.
Advantages | Disadvantages |
Various payment methods available | No mention of e-wallet options |
Minimum deposit is only $10 | Limited information on withdrawal processing times |
No additional fees for deposits or withdrawals | No option for local bank transfer in some countries |
LiteForex's deposit and withdrawal process offers several advantages to traders. Firstly, the broker supports multiple payment methods, including electronic transfers, bank cards, and bank wire transfers. Secondly, the minimum deposit requirement is only $10, making it easy for beginners to get started. Lastly, there are no extra fees charged for deposits or withdrawals, which is a bonus for traders on a tight budget. However, LiteForex does not offer e-wallet options, which is a popular payment method among traders, and the information on withdrawal processing times is limited. Additionally, local bank transfer is not available in some countries.
LiteForex offers a comprehensive range of educational resources for traders of all levels. With glossaries, e-books, tutorials, strategies, economic calendars, analytics, traders calculators, currency rates, economic news, and more, LiteForex provides a wide range of resources to help traders make informed decisions.
Advantages | Disadvantages |
Multiple language support | Limited working hours |
Multiple contact options (email and phone) | No live chat available |
Physical address provided | No 24/7 customer support |
Quick response time during working hours |
LiteForex offers a variety of customer service options to its clients, including support in multiple languages and two contact options: email and phone. However, there is no live chat available, and customer support is only available during limited working hours from 9 a.m. to 9 p.m. (GMT+2) on weekdays. Another downside is the lack of 24/7 customer support. Despite these limitations, the broker provides a physical address, which can add to clients' peace of mind. Moreover, during the working hours, the response time is quick, and clients can expect to receive a helpful response in a timely manner.
In conclusion, LiteForex is a well-established and reputable online forex and CFD broker, offering a wide range of trading instruments, educational resources, and customer support in multiple languages. With its user-friendly trading platforms, tight spreads, and low minimum deposit, it is an attractive option for both beginner and experienced traders. While its maximum leverage is relatively low compared to some other brokers, this can be seen as a positive aspect for traders who prioritize risk management. Overall, LiteForex seems to be a reliable and trustworthy choice for anyone looking to trade the financial markets. However, it is important to always do your own research and carefully consider the risks involved before making any investment decisions.
Is LiteForex a regulated forex broker?
Yes, LiteForex is a regulated forex broker registered with the Cyprus Securities and Exchange Commission (CYSEC).
What trading platforms does LiteForex offer?
MT4 and MT5.
What financial instruments can I trade on LiteForex?
LiteForex provides currency pairs, indices, metals, and energy.
Does LiteForex offer a demo account?
Yes. Demo accounts are on offer on this platform.
Is LiteForex a good broker for beginners?
Yes, liteforex is a good choice for newbies because it operates legally, allows $10 to start trading, and offers risk-free demo accounts.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
LMAX Group Review Summary in 10 Points | |
Founded | 2010 |
Headquarters | London, UK |
Regulation | FCA, CYSEC |
Market Instruments | Forex, precious metals, stock indices, commodities, cryptocurrencies |
Demo Account | Available |
Leverage | 1:100 (forex), 1:50 (metals and commodities) |
EUR/USD Spread | 0.2 pips |
Trading Platforms | LMAX Global, MetaTrader4 |
Minimum deposit | $1,000 |
Customer Support | 24/7 phone, email, and live chat |
LMAX Group is a UK-based multilateral trading facility (MTF) that offers forex and cryptocurrency trading to retail and institutional clients. It was founded in 2010 and is regulated by the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CYSEC). LMAX is known for its transparent and fair execution model, as well as its low latency and high-speed trading technology. The company's headquarters are located in London, and it has additional offices in New York, Tokyo, and Hong Kong.
LMAX is an electronic communication network (ECN) broker that operates a multilateral trading facility (MTF) for forex and cryptocurrency trading. It is a pure agency broker, which means it does not take positions against its clients and earns revenue solely from commissions and fees. LMAX provides institutional and retail traders with deep liquidity, fast execution, and transparent pricing through its proprietary trading platform, LMAX Global.
LMAX has several advantages, such as being a regulated broker, offering transparent and direct market access, providing a range of trading instruments, and offering a professional trading platform.
On the other hand, LMAX has some drawbacks, including limited account types and high minimum deposit requirements.
Pros | Cons |
• Regulated by FCA and CySEC | • High minimum deposit requirement |
• Offers DMA (Direct Market Access) | •High commission fees |
• Low latency and fast trade execution | • No social trading or copy trading features |
• Transparent pricing and deep liquidity | |
• Advanced trading technology and tools | |
• Professional and institutional grade services | |
• Segregated client funds and investor protection |
Note: This table is not an exhaustive list of all the pros and cons of LMAX and is only meant to provide a general overview.
Overall, LMAX is a suitable choice for experienced traders who value direct market access and professional trading tools.
There are many alternative brokers to LMAX Group depending on the specific needs and preferences of the trader. Some popular options include:
IG
Saxo Bank
CMC Markets
Admiral Markets
Pepperstone
IG, Saxo Bank, and CMC Markets are all well-established and reputable brokers, with strong regulatory oversight and a range of trading instruments and platforms available to their clients. Admiral Markets and Pepperstone are both popular among traders for their low spreads, fast execution speeds, and user-friendly platforms.
Some traders may prefer brokers with a wider range of trading instruments than what LMAX offers, and these alternative brokers may fit the bill. Additionally, some traders may prefer brokers with more robust educational and research resources, and may find these alternative brokers more suitable in that regard. Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
As a regulated broker by reputable financial authorities such as FCA and CySEC, LMAX is considered a reliable broker. The company also prioritizes the security of its clients' funds by keeping them in segregated accounts and offering negative balance protection.
Protection Measures | Detail |
Regulation | FCA, CySEC |
Segregated client funds | To protect them in case of any financial difficulties or insolvency |
Financial Services Compensation Scheme (FSCS) | A member of the FSCS, which provides eligible clients with protection up to £85,000 per person in the event of the broker's insolvency |
Negative balance protection | Ensures that clients can never lose more than their account balance |
Two-factor authentication | Adds an extra layer of security to clients' accounts |
SSL encryption | To protect clients' personal and financial information from unauthorized access |
Note that this table is for informational purposes only and is not exhaustive. It is important to conduct your own research and due diligence when choosing a broker.
LMAX is a highly regulated and reputable broker that takes the security of its clients' funds seriously. It is regulated by the FCA and CYSEC, and it implements various measures to ensure the safety of its clients' funds, such as holding them in segregated accounts and offering negative balance protection. Overall, LMAX appears to be a reliable and trustworthy broker.
LMAX provides access to a range of financial instruments across various asset classes, including:
Forex: Major, minor, and exotic currency pairs
Indices: CFDs on major global indices, including UK100, GER30, US30, and more
Commodities: Precious metals such as gold and silver, as well as energy products like crude oil and natural gas
Cryptocurrencies: CFDs on Bitcoin, Ethereum, Litecoin, and Ripple
It is important to note that the range of trading instruments may vary depending on the specific entity of LMAX and the jurisdiction in which it operates.
LMAX offers different account types, each with different features and benefits:
LMAX Global Account: This account is designed for institutions, hedge funds, asset managers, and professional traders. It offers access to the LMAX Global trading platform, deep liquidity, and low latency execution.
LMAX Professional Account: This account is designed for experienced traders and offers access to the LMAX Exchange central limit order book, low latency execution, and competitive pricing.
LMAX Prime Account: This account is designed for brokers, banks, and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.
LMAX Interbank Account: This account is designed for banks and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.
All of these accounts have different minimum deposit requirements and fee structures.
The maximum leverage offered by LMAX varies based on the account type and the asset being traded. For example, the maximum leverage for forex trading is up to 1:100, while for metals and commodities, it is up to 1:50.
It's important to note that leverage can increase both potential profits and losses, so it should be used with caution.
LMAX offers a variable spread on EUR/USD, which can start from as low as 0.2 pips during peak trading hours. However, the average spread is usually around 0.5-1 pip. It's worth noting that the spread can widen during periods of low liquidity or high market volatility.
The commission fee varies depending on the account type and the trading volume of the client. Here is a breakdown of the commission fees for LMAX:
LMAX Global: The commission for forex pairs ranges from $2.5 to $4.5 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1.25 to $5 per lot traded, depending on the instrument and the trading volume.
LMAX Professional: The commission for forex pairs ranges from $2 to $3 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1 to $3 per lot traded, depending on the instrument and the trading volume.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
LMAX | 0.2 pips | $2-$4.5 per lot/trade |
IG | 0.6 pips | None |
Saxo Bank | 0.9 pips | None |
CMC Markets | 0.7 pips | None |
Admiral Markets | 0.5 pips | $6 per lot/trade |
Pepperstone | 0.16 pips | $3.76 per lot/trade |
Note that the above information may vary depending on the account type, trading platform, and other factors. It's always a good idea to check with the broker directly for the most up-to-date and accurate information.
LMAX offers its proprietary trading platform called LMAX Global, which is a web-based platform accessible from any device with an internet connection. It also offers connectivity through industry-standard APIs, allowing clients to connect directly to LMAX Global's liquidity pool through third-party platforms.
Additionally, LMAX offers the MetaTrader 4 platform for traders who prefer using a familiar interface.
See the trading platform comparison table below:
Broker | Trading Platforms |
LMAX | LMAX Global, MT4 |
IG | IG Trading, MT4 |
Saxo Bank | SaxoTraderGO, SaxoTraderPRO, SaxoInvestor, MT4 |
CMC Markets | MT4, proprietary mobile trading platform |
Admiral Markets | MT4, MT5, proprietary Supreme platform |
Pepperstone | MT4, MT5, cTrader |
Overall, LMAX Group's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders.
LMAX offers a variety of deposit and withdrawal methods, including:
Bank Wire Transfer
Debit/Credit Cards (Visa and Mastercard)
Skrill
Neteller
LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.
The minimum deposit requirement for LMAX varies depending on the type of account. The LMAX Global account has a minimum deposit requirement of $1,000, while the LMAX Professional account has a minimum deposit requirement of $10,000.
LMAX Group | Most other | |
Minimum Deposit | $1,000 | $100 |
To withdraw funds from LMAX, you need to follow these steps:
Step 1: Log in to your LMAX account and go to the “My Account” section.
Step 2: Click on the “Withdraw Funds” button.
Step 3: Select the account you want to withdraw from and enter the amount you wish to withdraw.
Step 4: Choose your preferred withdrawal method and fill out the necessary information.
Step 5: Submit your withdrawal request.
LMAX processes withdrawal requests within one business day, and the time it takes for the funds to reach your account will depend on the withdrawal method you choose.
LMAX charges various fees for trading and account maintenance. Here is an overview of some of the fees charged by LMAX:
Swap Fees: LMAX charges a swap fee for positions held overnight. The swap fee is based on the interest rate differential between the two currencies of the trading pair.
Deposit/Withdrawal Fees: LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.
Inactivity Fee: LMAX does not charge any inactivity fee.
It's important to note that the fees charged by LMAX may vary depending on the type of account and trading instrument. Traders are advised to check the latest fee schedule on the LMAX website before trading.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
LMAX | Free | Free | Free |
IG | Free | Free (over $100) | $18/month after 2 years |
Saxo Bank | Free | Free | €100/year after 2 years |
CMC Markets | Free | Free | £10/month after 12 months |
Admiral Markets | Free (except bank transfer) | Free (over $150) | Free |
Pepperstone | Free (except bank transfer) | Free (over $100) | Free |
LMAX provides 24/7 customer service through phone, email, and live chat. You can also follow LMAX on some social networks such as LinkedIn, Facebook and YouTube.
Overall, LMAX's customer service is considered to be of good quality with responsive and helpful agents.
Pros | Cons |
• 24/7 customer support through email, phone, and live chat | • Limited language support with customer service available only in English |
• Dedicated account managers for all clients | |
• Responsive customer service with quick resolution of issues |
It's worth noting that the quality of customer service can be subjective and may vary from client to client. However, this table provides a general overview of the strengths and weaknesses of LMAX's customer service.
LMAX provides a range of educational resources for its clients, including:
Video tutorials: LMAX offers video tutorials on various topics related to trading, such as technical analysis, fundamental analysis, and risk management.
Webinars: LMAX hosts regular webinars that cover a wide range of topics, including market analysis, trading strategies, and risk management.
eBooks: LMAX provides a range of eBooks on various topics related to trading, such as forex trading strategies and technical analysis.
Trading guides: LMAX offers a range of trading guides that cover a variety of topics, including forex trading, CFDs, and cryptocurrencies.
Glossary: LMAX has a comprehensive glossary of trading terms that clients can refer to when needed.
Overall, LMAX's educational resources are comprehensive and cover a wide range of topics, making it a good choice for traders who are looking to improve their knowledge and skills.
In conclusion, LMAX is a highly-regulated broker that offers institutional-level trading services to retail clients. The broker offers a wide range of trading instruments and a powerful trading platform. LMAX's low-latency trading environment, deep liquidity pool, and transparent pricing model make it an ideal choice for traders who demand high-quality execution and a fair trading environment.
However, LMAX's high minimum deposit requirement and limited account types may not be suitable for beginner traders. Additionally, the broker's relatively high trading costs may not be attractive to cost-sensitive traders. Overall, LMAX is a reliable and competitive broker for experienced traders looking for top-tier trading services.
Q 1: | Is LMAX regulated? |
A 1: | Yes. It is regulated by FCA and CYSEC. |
Q 2: | Does LMAX offer demo accounts? |
A 2: | Yes. |
Q 3: | Does LMAX offer industry-standard MT4 & MT5? |
A 3: | Yes. LMAX supports LMAX Global and MetaTrader4. |
Q 4: | What is the minimum deposit for LMAX? |
A 4: | The minimum initial deposit to open an account is $1,000. |
Q 5: | Is LMAX a good broker for beginners? |
A 5: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive liteforex and lmax-global are, we first considered common fees for standard accounts. On liteforex, the average spread for the EUR/USD currency pair is from 2.0 points pips, while on lmax-global the spread is EURUSD 0.3 GBPUSD 0.8 .
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
liteforex is regulated by CYSEC. lmax-global is regulated by FCA,CYSEC,FCA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
liteforex provides trading platform including CLASSIC,ECN and trading variety including --. lmax-global provides trading platform including Professional account and trading variety including Foreign exchange, precious metals, stock indexes and commodities.