How LMAX Group filled niche roles worldwide in days with Deel

LMAX Group is a London-based, FCA-regulated financial-technology company that operates institutional foreign-exchange and cryptocurrency exchanges. In just a few years, the company expanded from nine offices and 110 employees to a 350-person team across 20+ legal entities. With clients that include the world’s largest banks, hedge funds, and brokerages, LMAX runs on speed, uptime, and regulatory precision.

To outpace competitors and meet soaring growth targets, LMAX needed a way to hire niche talent—traders, sales leaders, and finance experts—wherever they were based. But internal friction and regulatory constraints slowed things down. Opening new entities wasn’t viable for every hire, and strict FCA onboarding rules meant a 14-day start-date minimum.

“Candidates were pulling out of offers left and right. I asked, ‘What about an Employer of Record?’ — and no one even knew it existed.” — Dipesh Gurung, Global Head of Talent Acquisition, LMAX Group

Starting from week one, Gurung introduced Deel Employer of Record. Overnight, LMAX could compliantly hire in key markets, fast. Sales in Shanghai, FX experts in Malaysia, a VP in Canada—all onboarded without entity setup or hiring delays.

With Deel, the team could:

• Offer localized contracts and mirror UK benefits (25 days PTO + public holidays) globally
• Forecast budgets upfront using Deel’s Hiring Cost Calculator
• Keep risk-sensitive stakeholders confident with clear cross-border tax guidance from Deel’s experts

“Graham [our Deel account manager] answers in minutes and walks us through every tax nuance. It turned [stakeholder] resistance into approval.” — Dipesh Gurung, Global Head of Talent Acquisition, LMAX Group

The payoff was rapid and measurable, delivering both speed and revenue while keeping risk at zero:

• Speed: Deel reduced onboarding time from 14 days to as little as one — never exceeding six.
• Revenue: A Philippines-based sales hire booked significant institutional FX deals before relocating to LMAX’s Singapore hub.
• Retention: When a top UK finance contractor moved home to France, Deel Contractor of Record let them stay fully engaged and compliant.
• Compliance: 100% adherence to statutory benefits, tax, and labor law in every country; no surprise liabilities.

“We wouldn’t have the revenue that rep brings in if Deel hadn’t let us hire her where she was.” — Dipesh Gurung, Global Head of Talent Acquisition, LMAX Group

Built-in path to scale

LMAX will keep using EOR and COR for smaller teams in new markets. Once headcount crosses seven employees, they plan to switch to Deel’s Entity Setup — all within the same platform. The team is also evaluating Deel Global Payroll to run additional entities, creating one source of truth for every worker worldwide.