LMFX Review 2021 – Best CFD / Forex Broker

By | June 29, 2021

Are you looking for a CFD or Forex broker? As you already know, CFDs are hazardous elements; hence, you must search for a reliable partner to trade with. In this article, We have done an LMFX Review; we will talk in-depth about the LMFX and will think it is good for you or not? 

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What is LMFX?

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. However, 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. 

Account Opening 

Account opening at LMFX is an easy process. It requires no time to verify your account.

Account Types & Minimum Deposit 

Premium AccountZero AccountFixed 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

lmfx 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

Deposit & Withdrawal

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

Deposit made through e-wallets can take 30min to reflect in the account, whereas it takes 5-10 days in the wire transfer.

Withdrawals can be made by all the same methods, except for the Load e-wallet. Minimum withdrawals are $10. Also, keep in mind that it requires 2-5 days to proceed with transactions.


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Trading platform

lmfx trading platform

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

Metatrader has a highly customizable platform, where you can chat 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

Safety 

The drawback with LMFX is that any regulatory body does not regulate it 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. 

We don’t claim its trustworthiness; hence look after each & every aspect of the broker before investing. 

Customer Support

lmfx customer support

You can contact LMFX via:

  • Phone
  • Email 
  • Live Chat

Pros/Cons

ProsCons
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 education

LMFX offers the 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 pretty normal, not very exciting, and could do with some more effort.

Is LMFX Regulated?

Any financial institution does not regulate it, but Global Trade Partners Ltd. operates it. Although we suggest no sign-up unregulated brokers, LMFX seems right to us as its customers have positive responses. 

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

LMFX Review 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 the broker is not regulated, making it a little difficult to deal with. That’s why we suggest you get some real information & do a background check for your satisfaction. 


FAQs

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. However, LMFX is not a regulated body. But still, its customers are making good money through it.

Is LMFX Regulated?

Any financial institution does not regulate it, but Global Trade Partners Ltd. operates it. Although we suggest no sign-up unregulated brokers, LMFX seems right to us as its customers have positive responses. 

When can I trade crypto?

You can trade crypto anytime 7 days a week. But it will be unavailable from 5:30 pm–6:30 pm ET for regular maintenance & settlement.

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