Lenmax (Imposter) has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
If you are reading this considering Lenmax (Imposter) - run. I wish I had read more negative reviews after attending a webinar they hosted. I thought the positive ones were real. Maybe some are. My experience over for roughly four months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Educational resources|API access
Cons: Spreads widen during volatile periods|Could offer more webinars
Do not use Lenmax (Imposter) for anything serious. I used them for over three years for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Segregated accounts|Competitive fees|Wide product range|Risk management tools
Cons: Currency conversion fee exists|Live chat only during business hours