LMFX Review

By | March 20, 2021

Are you looking for a CFD or Forex broker? As you already know CFDs are highly risky elements, hence you are required to search for a reliable partner to trade with.

In this review of LMFX  we will talk in depth about the LMFX and will think it is good for you or not? 

What is LMFX?

LMFX is a forex & CFD stock broker founded in 2008. It is a registered brand of the Republic of North Macedonia. It serves the client throughout the world. 

LMFX separates itself through its highly-leveraged forex trading services. Though LMFX is not a regulated body. But still its customers are making good money through it.

Therefore, before investing your hard earned money get complete knowledge of the broker. 

LMFX

Account Opening 

Account opening at LMFX is an easy and straightforward process. It requires no time to verify your account. You will start trading as soon as possible. 

Account Types & minimum deposit 

Premium Account Zero Account Fixed Account 
Personal account managerPrivate account managerPersonal account manager
Spreads from 1 pipFlexible bonuses$4 commission per lot
1:1000 leverageNo commissionFlexible bonuses
Flexible bonuses1:400 leverage1:250 leverage
No commissionFixed spreadsRaw spread
Minimum deposit $50Min. deposit $250Minimum deposit $100

Fees

Spreads & Commission 

For Premium Accounts
GBP/USD 2.6 pips
EUR/GBP 2.1 pips
EUR/USD 1.1 pips
For Fixed Accounts
GBP/USD2.6 pips
EUR/GBP 2.2 pips 
EUR/USD1.1 pips
For Zero Account
GBP/USD0.8 pips 
EUR/GBP0.5 pips
EUR/USD0.2 pips
LMFX

Deposit & Withdrawal

Deposits can be made through debit/credit cards, bank wire transfer or Skrill, Neteller, FasaPay and Load e-wallets. LMFX’s minimum deposit is $50 for all methods, except wire transfers for which it is $250.

Deposits are free and instant for e-wallets, though they can take up to 30 minutes for payment cards and 2-15 days for wire transfers.

Withdrawals can be made by all the same methods, except for the Load e-wallet. Minimum withdrawals are $10, though wire transfers require $100. 

There are no withdrawal fees and payments are processed the same business day for e-wallets but can take 2-15 business days for payment cards and wire transfers. 


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Trading platform

LMFX offers three types of platforms; webtrading, mobile trading, desktop trading. It does not have its own trading platform. MetaTrader provides its MetaTrader4 platform to execute trade trough LMFX. 

Metatrader has a highly customizable platform, where you can chart and indicators as per your needs. The platform is available in more than 41 languages. It provides real time asset data.

Products Offered

LMFX has its best in class assets. It has a good portfolio cover. It offers a total of 161 assets to trade. 

LMFX Product Selection

Forex (#)48
Commodity CFDs (#)5
Energy CFDs (#)3
Metals (#)4
Indices (#)9
Stock CFDs (#)36
LMFX

Safety 

The drawback with LMFX is that it is not regulated by any regulatory body all over the world. Neither has any client protection cover. Which makes it a little bit risky for the customers. 

Whereas, its existing customers are happy with its services & have a positive attitude towards the broker. It has been operating for a long time which makes it a little trustworthy. 

Anyways we don’t claim its trustworthiness, hence look after each & every aspect of the broker before investing. 

Customer Support

You can contact LMFX via:

  • Phone
  • Email 
  • Live Chat
Pros Cons
Over 10,000 users across the globeUnregulated
Minimum deposit of only $50Poor customer service
Good variety of tradable assetsNo hedging allowed

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Education

LMFX offers the basic fundamentals to clients. The broker has some video tutorials, beginner trading courses, and a MetaTrader4 platform course. Each course includes a series of videos to help with some standard information. Overall it’s quite standard, not very exciting, and could do with some more effort.

LMFX

Is LMFX Regulated?

It is not regulated by any financial institution but it is operated by Global Trade Partners Ltd. Although we suggest no to sign up unregulated brokers, LMFX seems right to us as its customers have positive responses towards it. 

We suggest you to do thorough background checks of the broker you are going to choose by looking at its ratings and customer satisfaction.

The verdict

LMFX is a good option when looking for a broker providing a good amount of assets to trade. Also it has MT4 as a trading platform which has good customizability. 

The customer service is okay as it is not available full time and sometimes they give you irrelevant answers. 

The most noteworthy of all is that broker is not regulated which makes it a little difficult to deal. That’s why we suggest you get some real information & do a background check for your satisfaction. 


FAQ’s

Does LMFX accept US residents as Forex trader?

LMFX is an online Forex and CFD broker which accepts traders from all over the world.

Although LMFX is an international FX broker, LMFX may not accept traders from certain regions due to certain regulatory restrictions.

Conditions of LMFX's Free VPS for MT4? What's the requirement?

Conditions of LMFX Free VPS

LMFX offers you with an MT4-ready Windows VPS Server for super fast trading conditions.

You can submit your inquiry below and start trading!

FREE VPS is offered to any customer who deposits or maintains a balance of 5,000 USD (excluding Bonuses or Profits from trading).

How to join LMFX's all contests at the same time? What are the conditions?

You can join all contests of LMFX for free

Yes, you are allowed to entry for all LMFX contests at the same time.

LMFX is running 4 different contests which you can earn rewards by being a winner among the contestants.

Please note that none of them are available for withdrawal and these rewards are credited only for trading purpose.

Joining the contests are free. So if you are looking to earn extra money, you may want to find the best contest for yourself and join one all all of them

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