MT4 is a standalone third-party trading platform which operates independently of your LMAX Global web trading account.
Trades done on your MT4 account will not be reflected on your LMAX Global web trading account and vice versa. Similarly,
funds deposited into your web trading account are not automatically reflected in your MT4 account and need to be transferred
internally between platforms. Funds withdrawn from your MT4 account need to be first transferred to your web trading account
for onward remittance. Money transfers will be processed on weekdays, following a client request.
The main differences between the LMAX Global web trading platform and MT4 are outlined below
LMAX Global Web Trading Platform LMAX Global MT4 Platform
1 FX contract = 10,000 notional value. 1 FX lot = 100,000 notional value.
The contract size for Metals and Indices is 10 times higher on MT4 than on the LMAX Global web trading platform.
Minimum trade size for Spot FX is 0.1. Minimum trade size for Spot FX is 0.01.
Minimum trade size for Spot Metals (Gold and Silver) is 0.1. Minimum trade size for Spot Metals (Gold and Silver) is 0.01.
Minimum trade size for Index CFDs is 1. (This is the equivalent of 0.1 LMAX Global contracts).
Minimum trade size for Index CFDs is 0.1.
Commission is charged based on the notional value of the Clients not introduced by an Introducing Broker (IB) will be
trade. charged commission as a percentage of the notional value of
Commission is charged on the open and on the close of each the trade.
trade. Clients introduced by an IB will be charged commission on a
fixed charge per lot irrespective of the currency pair traded.
On the opening of a trade Commission is charged for both
opening and closing legs of the trade (round trip).
Hedging is not available. MT4 does allow hedging. Please note that overnight financing
is charged on both legs of the hedge. Hedged positions are not
currently margined; however, this is subject to change.
Overnight financing is applied by using swap points. Overnight financing is also applied by using swap points.
Swap rates are updated daily. Swap rates on majority of instruments are updated at least
once a week; however, this is subject to change.
Financing charges apply to short positions held on Indices.
There is a 70% margin close-out policy which will at first cancel There is a 70% margin close-out which will close the largest
all working orders, and if the account is still below the close out losing open positions until the margin gets above 70%.
level, all open positions will be liquidated.
Limit orders will rest on the exchange order book. Trades placed are sent to the MT4 server first and then fired to
the Exchange as market orders. Working limit orders sit on the
MT4 server and once triggered fire as market orders into the
exchange order book.
Margin is based on the current notional value of the open Margin is fixed on the open trade. This does not change
positions and fluctuates with changes in prices. throughout the life of the trade.
Commission and swaps are taken from the account balance Commission and swaps are charged on the open of the trade
when the trade is executed and at EOD respectively. and at EOD respectively. Note the charges are deducted from
the account balance only after the trade is closed.
Realised P/L are displayed in instrument currency and Realised P/L is displayed and converted to account base
converted to the base account currency at EOD. currency in real time using the prevailing exchange rate.
