LMFX Review
💲 Min Deposit $50
⌛ Year Established 2015
💡 Min Position 0.01 lot
🌐 Website www.lmfx.com
⚖ Max Leverage 1:1000
Accepts US traders
💰 Bonuses
👨💻 PAMM
🏆 Trading contests
📁 Segregated accounts
📖 Free education
LMFX is a well-established broker since 2015. LMFX has a headquarter in . LMFX to provide their Forex/CFD trading services to over 4 million clients.
Extensive Review
LMFX is an innovative online foreign exchange broker that offers advanced institutional and retail trading conditions to global audience. This broker commits to provide the full spectrum of cutting-edge trading tools and services, which are needed to support trading activity at the world’s most liquid market. LMFX also provides an unparalleled trading experience that offers the most competitive trading conditions to clients, by allowing them to trade Forex and CFDs on Commodities, Indices, and Shares.
LMFX was firstly founded in 2015 and is the brand used by Global Trade Partners Ltd., which is listed as a Macedonian (FYROM) entity according to LMFX's customer agreement. This broker offers the popular MT4 platform, but it is not regulated and its entity is located in a politically unstable jurisdiction. LMFX lists GTP Global Solutions Ltd as a payment services provider which is based in St. Vincent and the Grenadines.
Though LMFX has not been regulated yet, they keep trying to provide a lot of convenience and interesting services for clients. Should you know, this broker offers the suite of platforms developed by MetaQuotes Software Corporation, including the MetaTrader 4 (MT4) platform and an economic calendar powered by MTE-Media, which also powers its educational content that includes videos. Moreover, LMFX is pleased to provide a selection of essential forex calculators, which enable traders to have comprehensive statistics on their trades. Using these tools, traders can estimate profit and losses, evaluate margin requirements for secure trading, and calculate the impact of taking specific positions with different sizes.
For those who open an account in LMFX, this broker offers three types of trading account:
Zero Account
Zero Spread Account is a low-cost trading account that boasts No markups and super-tight spreads.
- Spread: raw spread from 0.0 pips
- Commission: from per 1k lot
- Minimum Deposit: USD100
- Leverage: 1:250
- Trading Condition: Ideal for scalping and high-volume trading.
Fixed Account
A Fixed Account is the perfect solution for traders who prefer to trade with fixed spreads.
- Spread: fixed spread
- Commission: none
- Minimum Deposit: USD250
- Leverage: 1:400
- Trading Condition: Ideal for Expert Advisors (EAs) that operate with fixed spreads.
Premium Account
Premium Account is carefully tailored to meet the trading needs of retail FX traders and with the minimum trade size at 0.01 lots.
- Spread: from 1 pip
- Commission: none
- Minimum Deposit: USD50
- Leverage: 1:1000
- Trading Condition: Has advanced trading platforms such as MetaTrader, Webtrader, and Mobile Trading.
LMFX offers traders to deposit and withdraw via wire transfer, credit cards, and e-payment (Skrill, Neteller, FasaPay). Moreover, trading in this broker is set up with a Segregated Account to ensure that there is a clear and complete separation of Clients' funds from the company's funds. If LMFX is no longer able to offer its services to the clients, clients' funds will be returned to them as they have been correctly accounted for before any trading activities being terminated.
Overall, though LMFX is not a regulated broker, it commits to give the best services for traders. LMFX has several kinds of account types as well as some convenient deposit and withdrawal methods.
Account Information
Apart from the forex demo account, this broker offers Premium, Fixed and Zero. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by LMFX is up to 1: 1000. Meanwhile, you can open an account with a starting capital of $50.
Min Deposit
$50
Max Leverage
1:1000
Spread
Variable and Fixed
Commission
$4
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $50
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, LMFX also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil, Stocks, Indexes and Soft commodities for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Premium account, LMFX specifically provides it with the following instruments and leverage:
💲 Min Deposit $250
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, LMFX also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil, Stocks, Indexes and Soft commodities for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Fixed account, LMFX specifically provides it with the following instruments and leverage:
💲 Min Deposit $100
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission $4
Instruments Traded
Besides lots of currency pair, LMFX also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil, Stocks and Indexes for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Zero account, LMFX specifically provides it with the following instruments and leverage:
Payment Methods
Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.
FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.
LMFX also provides payment with Credit/debit cards
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, LMFX offers you MetaTrader 4.
Customer Support
Do you have any question or find any trouble related to LMFX? If you do, you should reach LMFX's support to get the information that you need. Here is the detail of the broker's customer support:
Website Languages
Office Support
Email Support
Call Support
Chat Support
FAQ About LMFX
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if LMFX is a good broker for you or not by reviewing the criteria. In general, LMFX provides trading service in Forex , Gold & silver , Oil , Stocks , Indexes and Soft commodities . As for the payment methods, you can choose between Skrill, Wire transfer, Credit/debit cards, Neteller and FasaPay. The customer support is available via Email, Phone, Callback, Live chat and Forum.
The starting capital in LMFX is $50.
LMFX is regulated by None. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
LMFX is a brokerage company offering trading services for clients since 2015 with offices in .
Account Number: (6xxx)
Jun 8 2023
