About Fake LMAX
Overview
Fake LMAX is a Hong Kong-registered entity that presents itself as a forex broker. It was founded on 30 April 2020, according to official records. The broker claims to be regulated by the UK Financial Conduct Authority (FCA) with both Market Making and Forex Execution (STP) licenses.
However, there is no official domain associated with this broker, and the regulatory status is unverified. The entity's name suggests it may be impersonating the legitimate LMAX broker, a known UK-based forex and crypto exchange.
Regulation
The broker lists two FCA licenses on file, but both show a dash for status, indicating that they are not currently active or valid. This raises significant concerns about the legitimacy of the broker.
Traders are strongly advised to verify any regulatory claims directly with the FCA. The lack of a verified regulatory status is a major red flag, as it means there is no oversight or protection for clients.
Account Types
No information is available about account types offered by Fake LMAX. The broker does not provide any details on its trading conditions or account tiers.
Given the absence of public information, it is unclear whether the broker offers standard, premium, or Islamic accounts.
Platforms and Instruments
There is no public information regarding the trading platforms or financial instruments available. The broker's offerings remain unclear.
Typical forex brokers offer platforms like MetaTrader 4/5 or cTrader, but this broker has not disclosed any platform details.
Funding
Deposit and withdrawal methods are not disclosed. No information is available on minimum deposits, fees, or processing times.
This lack of transparency is concerning, as it prevents traders from understanding the costs and logistics of funding an account.
Target Audience
Given the lack of transparency and the severe scam risk (FXCanary Scam Risk Score: 85/100), this broker is not suitable for any trader. It appears to be a high-risk entity that may be attempting to impersonate a legitimate broker.
Traders are strongly advised to avoid this broker and to only engage with fully regulated and transparent forex brokers.
Overview compiled by FXCanary from regulatory records and public data. full Fake LMAX review