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.