Updated September 29, 2026 · BrokerCue Editorial Team
FXOpen vs LMAX Exchange
What sets them apart
| Compare |  FXOpen |  LMAX Exchange |
|---|---|---|
| Minimum deposit | $100Lower | $1,000 |
| Markets | Stocks, ETFs, Forex, CFDs, CryptoCovers more | Forex, CFDs, Crypto |
| Investor protection | EU ICS up to EUR 20,000 | FSCS up to GBP 85,000 |
| Retail accounts that lose money | 60% | 67.64% |
| Platforms | TickTrader, MT4, MT5 | LMAX Global, MetaTrader4 |
| Deposit and withdrawal fees | Not confirmed | No deposit or withdrawal fees |
Same on both: Regulators (CySEC, FCA).
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Key differences
- FXOpen scores higher overall: 9.1 vs 8.8.
- Minimum deposit is lower at FXOpen: $100 vs $1,000.
- Markets: only FXOpen offers Stocks, ETFs.
- Platforms: only FXOpen offers TickTrader, MT4, MT5.
- Platforms: only LMAX Exchange offers LMAX Global, MetaTrader4.
Our verdict on each
FXOpen
FXOpen suits traders who want one account spanning forex, CFDs, stocks, ETFs and crypto under FCA and CySEC oversight, with investor protection of EU ICS up to EUR 20,000. The minimum deposit of $100 is the catch, placing it well above the site median of €4.64 and above Vantage at $5.
LMAX Exchange
LMAX Exchange suits experienced traders who want a regulated exchange rather than a casual platform. Fees on moving money are nil, and FSCS up to GBP 85,000 covers eligible claims, but the $1,000 entry requirement is high for a first account.
Score breakdown
| Area | FXOpen | LMAX Exchange |
|---|---|---|
| Cost | 8.5Higher | 8.2Minimum deposit of $1,000 sits well above the $0 entry point, though No deposit or withdrawal fees adds nothing on funding. |
| Offer | 9.4Higher | 8.9 |
| Trust | 9.5Higher | 9.2 |
Positions in our rankings
| Ranking | FXOpen | LMAX Exchange |
|---|---|---|
| Forex brokers | 50 of 147 | 77 of 147 |
| Low-spread forex brokers | 48 of 145 | 75 of 145 |
| CFD brokers | 40 of 122 | 65 of 122 |
Side by side, item by item
| Markets | FXOpen | LMAX Exchange |
|---|---|---|
| Stocks | Yes | No |
| ETFs | Yes | No |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Also worth a look
ActivTrades has minimum deposit at $0, against $100 for FXOpen and $1,000 for LMAX Exchange.
ActivTrades reviewWhat we checked
FXOpen
- fxopen.com: 5 facts, checked September 26, 2026
- scribd.com: 1 fact, checked September 26, 2026
- topforextradingbrokers.com: 1 fact, checked September 26, 2026
LMAX Exchange
- wikifx.com: 7 facts, checked September 26, 2026
- lmax.com: 4 facts, checked September 26, 2026
Every fact side by side
| Fact | FXOpen | LMAX Exchange |
|---|---|---|
| Features | Demo account, Crypto, Mobile app | Not confirmed |
| Audience | Not confirmed | Experienced |
| Headquarters | Not confirmed | United Kingdom |
| Founded | Not confirmed | 2010 |
| Support channels | Not confirmed | Phone, Chat |
Where each stands against the rest
| Fact | FXOpen | LMAX Exchange | Median |
|---|---|---|---|
| Minimum deposit | $100above the median | $1,000highest quarter | $25 |
| Retail accounts that lose money | 60%lowest quarter | 67.64%below the median | 72.05% |
Median across 134 listed brokers.
Pros and cons
FXOpen
Pros
- One account covers stocks, ETFs, forex, CFDs and crypto, all listed under stocks, etfs and forex.
- Regulated by CySEC and FCA, so the UK operation sits under the FCA and the Cyprus operation under CySEC.
- Investor protection is stated at EU ICS up to EUR 20,000 for eligible claims.
Cons
- The minimum deposit of $100 is far above the site median of €4.64.
- On minimum deposit FXOpen ranks 148 of 213 brands compared.
- The cost score is 2.7 and the overall score is 2.7, so value is the weak side.
LMAX Exchange
Pros
- No deposit or withdrawal fees, so funding an account costs nothing to arrange
- Regulated by the FCA in GB and CySEC in Cyprus, with FSCS up to GBP 85,000 behind eligible claims
- Trades on forex, cfds and crypto through the LMAX Global platform or MetaTrader4
Cons
- The $1,000 minimum is well above the $0 entry point
- forex, cfds and crypto covers forex, cfds and crypto only, so it suits active traders rather than investors
- Support runs on phone and chat only
Who each suits
FXOpen
Who it suits
- Traders who want forex and CFDs next to stocks, ETFs and crypto in a single account.
- UK and EU residents who want a broker listed with CySEC and FCA and a stated protection scheme.
- Users of TickTrader, MT4 or MT5 who want a demo account before committing money.
Who should look elsewhere
- Newcomers starting with a small amount: CFI asks a minimum deposit of $0.
- Traders who want futures in the market list: eToro covers stocks, etfs and forex.
- Anyone wanting a lower entry point: Vantage takes $5 against FXOpen's $100.
LMAX Exchange
Who it suits
- Experienced traders who already know the markets listed
- Anyone who values a regulated exchange structure over a low starting deposit
- Traders who want phone and chat access for account questions
Who should look elsewhere
- First time traders, who face a high entry point compared with CFI at $0
- Share buyers, since forex, cfds and crypto does not include stocks and eToro covers stocks, etfs and forex
- Traders wanting crypto only, because Vantage opens at $5
Questions about each
FXOpen
What is the minimum deposit at FXOpen?+
The minimum deposit is $100. That is well above the site median of €4.64 and places FXOpen at 148 of 213 brands compared on this measure. Anyone starting with a small balance is better served by a lower entry point elsewhere.
Who regulates FXOpen?+
FXOpen lists CySEC and FCA. The Cyprus entity is supervised by CySEC and the UK entity by the FCA, so UK customers sit under the UK regulator while EU customers sit under the Cyprus one. The listed protection scheme is EU ICS up to EUR 20,000.
LMAX Exchange
What is the minimum deposit at LMAX Exchange?+
The minimum deposit is $1,000. That sits far above the $0 entry point at CFI, so traders building a first balance should check the amount they can commit before opening.
Are there fees for depositing or withdrawing?+
No. No deposit or withdrawal fees means funding and pulling money out does not cost an extra charge. That keeps the cost of running an account to the trading side rather than the cash movements.