LMAX Professional – key features:
- Tight spreads for 70 FX and CFD instruments
- Institutional pricing from top tier banks and proprietary trading firms
- Client orders executed seamlessly against no ‘last look’ liquidity
- No dealing desk and never any requotes
- Low latency (ALL orders are matched with an average speed of 4ms)
- Genuine STP execution
- An anonymous open order book up to 20 levels of market depth*
- Competitive commission rates, tailored to monthly trading volumes**
* Access to 5 levels of market depth is available to all accounts. Access to up to 20 levels of market depth is available to Professional account (min. deposit $10,000) holders via the FIX API.
** For qualifying details contact us.
LMAX Professional currently lists 70 FX pairs. One FX contract represents CCY1 10,000 notional exposure. For example 1 EUR/USD equates to EUR 10,000 notional exposure.
|FX & Spot Commodities|
|EUR/GBP||GBP/HUF||USD/CNH||Spot Crude Oil|
|EUR/HKD||GBP/JPY||USD/CZK||Spot Gold (AUD, EUR, USD)|
|EUR/HUF||GBP/MXN||USD/DKK||Spot Gold (Mini)|
|EUR/JPY||GBP/NOK||USD/HKD||Spot Silver (AUD, USD)|
|EUR/MXN||GBP/NZD||USD/HUF||Spot Silver (Mini)|
|EUR/NOK||GBP/PLN||USD/ILS||Spot UK Brent|
|EUR/NZD||GBP/SEK||USD/JPY||Spot US Natural Gas|
FX Overnight Financing
The financing charge for Rolling Spot FX reflects the relative interest rates of the two currencies comprising your open trade plus a premium dependant on market conditions and including an LMAX Exchange charge. When a position is held overnight, LMAX Exchange will apply a financing entry to your account. This may be a debit or a credit entry depending on the contributing factors outlined above, namely relative interest rates and LMAX Exchange premium.
The cost of the tomorrow next roll (tom/next) is applied to positions held through the respective market close. The opening price on your position is not adjusted, rather a separate financing charge is levied to your account. Positions rolled over the weekend or over bank holidays will reflect the longer duration of the underlying wholesale rolling trades. Example available on request.
LMAX Professional offers Contracts for Difference (CFD) instruments in major Indices. LMAX Professional CFDs are based on 10% of the notional value of the underlying instrument.
There is not currently a liquidity provider for Index CFDs, for which liquidity is created by customers trading with each other.
|Germany 30 (Mini)|
|Hong Kong 50|
|US SPX 500|
|US SPX 500 (Mini)|
|US Tech 100|
|US Tech 100 (Mini)|
|Wall Street 30|
|Wall Street 30 (Mini)|
CFD Overnight Financing Rates
Financing charges are applied to all CFD positions held through the market close each day. Financing charges will be applied according to the following schedule.
|Instrument||Reference Rate||Standard Contracts Long||Standard Contracts Short||Mini Contracts Long||Mini Contracts Short|
|UK instruments||1 month LIBOR||+ 2.0%||– 1.5%||+ 2.5%||– 2.0%|
|Euro instruments||1 month EUR LIBOR||+ 2.0%||– 1.5%||+ 2.5%||– 2.0%|
|US instruments||1 month USD LIBOR||+ 2.0%||– 1.5%||+ 2.5%||– 2.0%|
|JPY instruments||1 month JPY LIBOR||+ 2.0%||– 1.5%||+ 2.5%||– 2.0%|
|AUD instruments||1 month AUD LIBOR||+ 2.0%||– 1.5%||+ 2.5%||– 2.0%|
|HKD instruments||1 month HKD LIBOR||+ 2.0%||– 1.5%||+ 2.5%||– 2.0%|