LMAX
IG
LMAX vs IG
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
LMAX and IG are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. LMAX, founded in 2010 and headquartered in London, UK, is regulated by FCA and offers spreads starting from 0.0 pips with a minimum deposit of $1000. IG, established in 1974 in London, UK, holds licenses from FCA, ASIC, MAS, BaFin with spreads from 0.6 pips and a $250 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.
- 🖥️
LMAX runs on LMAX Global, while IG uses IG Platform, MT4, ProRealTime, L2 Dealer — 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
LMAX
Score: 8.8/10 · Wins 1 categories- You want lower spreads and trading fees
- You prefer LMAX's trading environment overall
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
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 | 8.8/10 | 9.2/10 ✓ |
| Min Deposit Lower is better | $1000 | $250 ✓ |
| Max Leverage | 1:100 | 1:200 |
| Spreads From | 0.0 pips | 0.6 pips |
| Platforms | LMAX Global | IG Platform, MT4, ProRealTime, L2 Dealer |
| Regulation | FCA | FCA, ASIC, MAS, BaFin |
| Founded Older track record highlighted | 2010 | 1974 ✓ |
| Markets | 100+ | 17,000+ ✓ |
Fees & Costs
When it comes to trading costs, LMAX has the edge with a score of 9/10 versus 8.5/10 for IG. LMAX offers spreads starting from 0.0 pips, while IG starts from 0.6 pips. The minimum deposit at LMAX is $1000, compared to $250 at IG. 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. LMAX provides LMAX Global, while IG offers IG Platform, MT4, ProRealTime, L2 Dealer. 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. LMAX is regulated by FCA (Tier 1), while IG holds licenses from FCA, ASIC, MAS, BaFin (Tier 1). LMAX scores 9.5/10 and IG scores 10/10 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. LMAX and IG 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
LMAX offers 24/5 Email, Phone and scores 8/10, while IG provides 24/5 Live Chat, Email, Phone with a score of 8.5/10. 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
LMAX scores 7/10 for deposits and withdrawals, while IG scores 8/10. LMAX accepts Bank Transfer, and IG supports Bank Transfer, Credit Card, PayPal. Processing times, fees, and available currencies vary. LMAX requires a minimum deposit of $1000 versus $250 for IG. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose LMAX if you...
- You want lower spreads and trading fees
- You prefer LMAX's trading environment overall
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
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is LMAX better than IG?
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, LMAX or IG?
LMAX scores higher for trading costs. LMAX offers spreads from 0.0 pips with a $1000 minimum deposit, while IG starts from 0.6 pips with $250 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is LMAX safe to trade with?
LMAX is regulated by FCA and scores 9.5/10 for regulation. IG is regulated by FCA, ASIC, MAS, BaFin with a score of 10/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, LMAX or IG?
IG scores 9.5/10 for platforms. LMAX offers LMAX Global, while IG provides IG Platform, MT4, ProRealTime, L2 Dealer. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for LMAX vs IG?
LMAX requires a minimum deposit of $1000, while IG requires $250. 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.