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.
Trust stack
Trust stack for this head-to-head
This comparison uses the same review dataset, methodology, disclosure, and corrections standards as the rest of TBR money pages. Head-to-head verdicts still need an entity-level regulation check before signup.
Risk layer
Risk & regulation snapshot for IG
Regulation
Third-partyFCA, ASIC, MAS, BaFin · brand-level entity model
Leverage / exposure
Broker-stated1:200 (moderate-to-high retail risk)
Trust read
VerifiedTier 1 trust profile
Regulation status
Third-partyFCA, ASIC, MAS, BaFin gives this broker a cleaner top-tier regulation read than the average CFD brand.
Entity nuance
Third-partyIG shows 4 regulators in the shared broker dataset. Treat that as a brand-level trust signal, not proof of the exact legal entity you will onboard with.
Investor protection
UnknownTop-tier regulation helps on paper, but the canonical dataset still does not lock the exact compensation scheme or client-money safeguards for every onboarding entity.
Verification state
VerifiedVerification state: brand-level regulator mapping is in place, but the exact contracting entity is still inferred rather than fully pinned in the canonical dataset.
High-risk warning
Broker-statedA 1:200 ceiling still creates meaningful downside if position sizing is sloppy. Regulation does not remove market risk.
Risk layer
Risk & regulation snapshot for LMAX
Regulation
Third-partyFCA · brand-level entity model
Leverage / exposure
Broker-stated1:100 (moderate-to-high retail risk)
Trust read
VerifiedTier 1 trust profile
Regulation status
Third-partyFCA gives this broker a cleaner top-tier regulation read than the average CFD brand.
Entity nuance
Third-partyLMAX shows 1 regulator in the shared broker dataset. Treat that as a brand-level trust signal, not proof of the exact legal entity you will onboard with.
Investor protection
UnknownTop-tier regulation helps on paper, but the canonical dataset still does not lock the exact compensation scheme or client-money safeguards for every onboarding entity.
Verification state
VerifiedVerification state: brand-level regulator mapping is in place, but the exact contracting entity is still inferred rather than fully pinned in the canonical dataset.
High-risk warning
Broker-statedA 1:100 ceiling still creates meaningful downside if position sizing is sloppy. Regulation does not remove market risk.
Evidence labels
How to read the evidence in IG vs LMAX
Comparison pages mix our own review work with broker-published facts and outside records. The labels make that visible instead of flattening everything into one fake confidence level.
Overall verdict and score differences
VerifiedThese come from our review methodology and the underlying hands-on review dataset used for scoring.
Spreads, minimum deposits, leverage, and platform lists
Broker-statedThese are usually published broker facts unless a review explicitly documents a direct test.
Regulation and entity background
Third-partyThose checks rely on regulator registers and other external records, not just broker marketing copy.
Cells the source reviews do not support cleanly
UnknownIf the underlying evidence is thin or conflicted, the safe answer is to keep the gap visible.
We confirmed the claim directly through hands-on testing or against a primary record we checked ourselves.
Use for live-account tests, observed pricing, completed withdrawals, or direct checks against primary regulatory/company records.
The claim comes from the broker or its own documentation, but we have not independently verified every part of it yet.
Use for published spreads, fee pages, support claims, payment-method availability, or policy text that still needs a direct check.
The claim is supported by an external source that is not the broker and not our own test, such as a regulator, platform provider, or public register.
Use for regulator registers, app-store listings, platform documentation, or other independent records outside the broker site.
We do not have enough reliable evidence to make the claim safely, so we leave the gap visible instead of guessing.
Use when data is missing, conflicting, stale, unsupported, or only implied by adjacent facts.
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.
Broker recommendation block
If you only shortlist two names after this comparison, make it IG first and LMAX second
IG is the stronger default pick on the numbers here, but LMAX still makes sense if its edge lines up with how you actually trade.
IG
🟢 Tier 1 RegulatedFCA · ASIC · MAS
IG wins this matchup on overall score, especially for better trading platforms and stronger regulation.
Overall score
9.2/10
Minimum deposit
$250
LMAX
🟢 Tier 1 RegulatedFCA
LMAX is still worth a second tab open if you care more about lower trading costs.
Overall score
8.8/10
Minimum deposit
$1000
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. IG shows 4 regulators in the shared broker dataset. Treat that as a brand-level trust signal, not proof of the exact legal entity you will onboard with. LMAX shows 1 regulator in the shared broker dataset. Treat that as a brand-level trust signal, not proof of the exact legal entity you will onboard with. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, but you should still verify the specific entity covering 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
Routing after IG vs LMAX
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Escalate to shortlist mode
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Regulator pages are the clean next step when the decision hinges on licensing strength.
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If neither broker is a fit, route into adjacent comparisons instead of dead-ending here.
Frequently Asked Questions
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