LMAX Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of LMAX trading signals. You will learn what kinds of trading signals LMAX offers and what the conditions for using them are.
Short introduction of LMAX
LMAX Group (LMAX) is a CFD and Forex broker that has been operating since 2008. The company is headquartered in the UK. The broker offers clients trading in five classes of instruments, including Forex, stock indices, precious metals, commodities, and cryptocurrencies. LMAX operates under the licenses of the UK (Financial Conduct Authority, FCA) and Cyprus (CySec) regulators.
| 💰 Account currency: | GBP, EUR, USD, AUD, CHF, JPY, PLN, SEK, SGD, HKD, and HUF |
| 🚀 Minimum deposit: | From USD 10,000 |
| ⚖️ Leverage: | Up to 1:30 |
| 💱 Spread: | From 0.1 pips for EUR/USD |
| 🔧 Instruments: | currency pairs (69) CFDs on indices (13) metals (7) energy (5) cryptocurrencies (8) |
| 💹 Margin Call / Stop Out: | 100%/50% |
LMAX Pros and Cons
👍 Advantages of trading with LMAX:
•100+ trading instruments.
•Spreads from 0.2 pips.
•Proprietary analytical system.
•No withdrawal fee.
•Licenses from two reputable regulators.
👎 Disadvantages of LMAX:
•The minimum deposit is USD 10,000.
•The fee for using the platform is USD 300 per month.
•No PAMM or copy trading.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
-
Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
LMAX Trading Signals
The Traders Union experts have analyzed the policy of the broker LMAX Group. The platform commission is charged in the form of a spread. The minimum spread for EUR/USD is 0.1 pips, the average spread is 0.3 pips. The platform does not charge fixed commissions per lot or per trade. However, there is a monthly connection fee. Its size is USD 300 per month. For clients who wish to work with cryptocurrencies or trade on Forex on weekends, the fee for this is USD 2,000 per month (no fee is charged for a turnover of more than USD 5,000,000 per month). LMAX also has an inactivity fee. Its size is USD 1000 for each month of inactivity. There are no fees for deposits and withdrawals at LMAX.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $1 | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that LMAX does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Can trading signals depend on the account type?
Yes. As a rule, they are provided for certain account types, but may also be available for the standard account.
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.