IG
LMAX
IG vs LMAX
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
IG and LMAX are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. IG, founded in 1974 and headquartered in London, UK, is regulated by FCA, ASIC, MAS, BaFin and offers spreads starting from 0.6 pips with a minimum deposit of $250. LMAX, established in 2010 in London, UK, holds licenses from FCA with spreads from 0.0 pips and a $1000 minimum deposit. In our hands-on testing across 8 scoring categories, IG scored 9.2/10 overall compared to LMAX's 8.8/10, making it the stronger pick for most traders. That said, LMAX holds its own with lower trading costs, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
IG scores 9.2/10 overall vs 8.8/10 for LMAX — a 0.4-point difference.
- 💵
IG requires just $250 to start, while LMAX needs $1000 — IG is 4x more accessible.
- 📈
IG offers 17,000+ instruments vs 100+ at LMAX — a massive gap in market coverage.
- 🖥️
IG runs on IG Platform, MT4, ProRealTime, L2 Dealer, while LMAX uses LMAX Global — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Education: IG scores 9.0 vs 6.0 for LMAX — a 3.0-point difference.
Our Verdict
IG
Score: 9.2/10 · Wins 7 categories- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
LMAX
Score: 8.8/10 · Wins 1 categories- You want lower spreads and trading fees
- You prefer LMAX's trading environment overall
IG takes the lead with an overall score of 9.2/10 compared to 8.8/10, winning in 7 out of 8 scoring categories. IG stands out for better trading platforms and stronger regulation, while LMAX fights back with lower trading costs.
Detailed Verdict
After testing both brokers with real accounts, IG comes out ahead with a 9.2/10 overall rating, winning 7 out of 8 categories. Its strongest area is Regulation & Trust where it scores 10.0/10. IG holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. LMAX is not without merit — it scores 8.8/10 overall and excels in Regulation & Trust (9.5/10), winning 1 category. Traders who value lower trading costs may find LMAX the better fit. For a complete breakdown, read our full IG review and LMAX review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
LMAX wins by 0.5 points
IG wins by 1.5 points
IG wins by 0.5 points
IG wins by 3.0 points
IG wins by 0.5 points
IG wins by 2.0 points
IG wins by 1.0 points
IG wins by 3.0 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 9.2/10 ✓ | 8.8/10 |
| Min Deposit Lower is better | $250 ✓ | $1000 |
| Max Leverage | 1:200 | 1:100 |
| Spreads From | 0.6 pips | 0.0 pips |
| Platforms | IG Platform, MT4, ProRealTime, L2 Dealer | LMAX Global |
| Regulation | FCA, ASIC, MAS, BaFin | FCA |
| Founded Older track record highlighted | 1974 ✓ | 2010 |
| Markets | 17,000+ ✓ | 100+ |
Fees & Costs
When it comes to trading costs, LMAX has the edge with a score of 9/10 versus 8.5/10 for IG. IG offers spreads starting from 0.6 pips, while LMAX starts from 0.0 pips. The minimum deposit at IG is $250, compared to $1000 at LMAX. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
IG scores 9.5/10 for platforms compared to 8/10 for LMAX. IG provides IG Platform, MT4, ProRealTime, L2 Dealer, while LMAX offers LMAX Global. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. IG is regulated by FCA, ASIC, MAS, BaFin (Tier 1), while LMAX holds licenses from FCA (Tier 1). IG scores 10/10 and LMAX scores 9.5/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, IG leads with 9/10 compared to 6/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. IG and LMAX both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
IG offers 24/5 Live Chat, Email, Phone and scores 8.5/10, while LMAX provides 24/5 Email, Phone with a score of 8/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
IG scores 8/10 for deposits and withdrawals, while LMAX scores 7/10. IG accepts Bank Transfer, Credit Card, PayPal, and LMAX supports Bank Transfer. Processing times, fees, and available currencies vary. IG requires a minimum deposit of $250 versus $1000 for LMAX. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose IG if you...
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
Choose LMAX if you...
- You want lower spreads and trading fees
- You prefer LMAX's trading environment overall
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is IG better than LMAX?
IG scores higher overall (9.2/10 vs 8.8/10), winning 7 of 8 categories. However, LMAX is stronger in lower trading costs. The best choice depends on what matters most to your trading style.
Which has lower fees, IG or LMAX?
LMAX scores higher for trading costs. IG offers spreads from 0.6 pips with a $250 minimum deposit, while LMAX starts from 0.0 pips with $1000 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is IG safe to trade with?
IG is regulated by FCA, ASIC, MAS, BaFin and scores 10/10 for regulation. LMAX is regulated by FCA with a score of 9.5/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, IG or LMAX?
IG scores 9.5/10 for platforms. IG offers IG Platform, MT4, ProRealTime, L2 Dealer, while LMAX provides LMAX Global. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for IG vs LMAX?
IG requires a minimum deposit of $250, while LMAX requires $1000. IG has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.