High Leverage Forex and CFD Trading LMFX Review

Please keep in mind that certain payment options are only available in certain countries. You can deposit a minimum of $50 using debit/credit cards or any electronic wallet, but the minimum deposit for bank wire transfer is $250, which is comparatively higher. You can withdraw a minimum of $10 on debit/credit cards or any electronic wallet, but the minimum withdrawal for bank wire transfer is $100.

She states that the broker is a very bad choice because their servers are regularly down and the customer support is very rude. There are several other similar commentaries that write about something similar. No commission is required, and with this account, you’ll have access to flexible bonuses. The multi-target calculator helps clients to get an idea of when to close a position at a certain target level so that they can gain the maximum Return to Risk Ratio.

In addition, there is an economic calendar that can include forecasts and actual results. If you need to know more about spreads and fees for these products, they can be found on the broker’s official website. The number of assets is quite big and you could even say that it is much better than with other companies. LMFX provides different types of financial assets, ranging from Forex, Stocks, commodities, and Indices. Minimum withdrawals required for e-wallets and wire transfers are $10 and $100 respectively.

When opening an account you will be asked a list of standard compliance checks to ensure that you understand the risks involved. The LMFX Premium Account facilitates up to 60 lots in a single trade. Despite LMFX’s subpar reputation, the platform boasts over 10,000 users across the globe. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up.

Platforms

The platform’s support for automated trading and scalping is an added advantage. The broker platform has been appreciated for providing quality service. However, LMFX is not regulated, which limits the legal protection increasing the overall risk of the traders. Therefore, before creating an account with LMFX, traders are advised to do their own research and analysis.

The MT4 web platform offers the same functionality as the desktop version with the benefit of not needing to download and install any additional software. I think this is great as it means you can access your account from any device and will always be using the most up to date version of the platform. However, one of the main disadvantages of the web platform from my perspective is that it does not support automated trading. The broker is currently not regulated by any government agencies but it is operated by Global Trade Partners Ltd, registered in the Republic of Macedonia.

In Dec of 2023, I started trading with LMFX mainly focusing on joy and AUD pairs, trading the Asian market, starting with a mid-sized premium account I. They also offer their clients industry-leading MT4 mobile and desktop platforms and several other tools. LMFX lags a bit from its competitors when it comes to educational and research resources. The broker does not offer much in the education section on its website.

And this is a lot better because it accepts any form of internet browser, so you can always just log in from any part of the world without much stress. Position Size Calculator is another free Forex trading tool that lets traders calculate the position size in units or lots to effectively manage their risks. Though the tool requires the minimum input values, it allows traders to fine-tune their preferences with the broker’s criteria.

It is worth noting that access to markets such as the Hang Seng index is a big disadvantage. LMFX offers secure online trading for instruments such as commodities, indices, oil, and Forex. LMFX is an online forex broker that offers leveraged CFD trading on the MT4 platform. Clients can access free VPS hosting and a range of trading accounts, including a raw-spread ECN Zero Account.

Is LMFX Regulated? 🛡

Orders cannot be executed, since there is no such price available on the market, nor we can take the opposite side of the trade since we are a No Dealing Desk broker. Kindly be advised that we take matters such as trade complaints very seriously. We always take the necessary time to investigate client’s inquiries and forward them to the appropriate department if needed. These procedures may take time, depending on each and every case individually, but we always strive to provide the best assistance as possible. Complaining did not produce any satisfactory result as I was told that during a high-impact event I may trades won’t be executed at my set price . I couldn’t place a trade, they replied via email that “you have reached the maximum amount of pending orders allowed” even though I’m pretty sure my margin is enough (I didn’t open any trade).

Like in any CFDs where the profit is determined by the entry and the exit prices, LMFX commodity CFDs also enable traders to use fractional positions and low margin requirements to access the financial markets. Apart from the major currency pairs, traders can also trade other trading variables like Swaps and Margin. All Foreign exchange contracts are subject to Overnight Swap rates; Triple SWAPS are applied on the positions that are held over any Wednesday. However, after extensive research and comparison reviews, we find and recommend eToro as the best free trading platform, and regulated broker in 2023. LMFX is not regulated by any financial authority, however, there are several measures that the forex broker adopts to ensure its clients’ funds and data are protected.

LMFX is a brokerage company offering trading services for clients since 2015 with offices in . The customer support at LMFX can be contacted through a call to a British phone number or email. The contacts are shown at the bottom of the website on most pages.

How long do LMFX deposits take?

You will only find some standard trading tools and an economic calendar with fundamental macroeconomic data of countries. Furthermore, the broker provides a series of video tutorials for its MT4 trading platform. In addition, LMFX has a blog where they share market news and some fundamental analysis regularly. I could not find any trading courses, guides, webinars, or podcasts on their website. If you are a beginner and looking for a broker with lots of content to help you along your way, FXTM have a generous selection. The brokers zero account offers low trading with no mark-ups and spreads as low as 0.0 pips.

• There is a dedicated email and UK phone number for the customer service department, Sales department, and the Affiliate department.
• You get access to a very good range of trading instruments across multiple markets and flexible account types for different trading styles.
• All the accounts offer fifth decimal pricing, access to MT4, and mobile trading.
• LMFX is not regulated by any financial authority, however, there are several measures that the forex broker adopts to ensure its clients’ funds and data are protected.

Read the facts and research you must know in this LMFX review before you sign up for a broker account since there is always a high risk of losing money when trading CFDs. Additionally, you can also access metals and oil, and commodities trading with tight spreads. LMFX also supports tons of payment methods including bank wire transfers, e-wallets such as Skrill and Neteller and VLoad, as well as debit cards and credit cards. Depending on the payment method you choose there are varying minimum deposits and withdrawals, but more on this later on. The online broker LMFX was founded in 2008 by Global Trade Partners Ltd. and provides its worldwide retail and institutional clients with trading services. LMFX offers trading instruments from various markets, including Forex, Indices, Commodities and large company shares using Contract for Differences .

What are LMFX’s spreads?

The texts on this page are not are not investment recommendations. LMFX is an online Forex and CFD trading platform that provides traders with access to a wide range of financial instruments, including currencies, commodities, indices, and stocks. 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. LMFX offers traders to deposit and withdraw via wire transfer, credit cards, and e-payment . 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.

But for other payment methods such as wire transfers, it might take up to 2-15 days for the deposit to reflect, and up to 30 minutes for card payments to reflect. The zero accounts are best for traders who prefer to trade with high volume and also for scalpers. It is a very powerful forex tool to determine the potential risks of traders before entering any position. LMFX offers its users profitable Affiliate programs that enable them to earn huge money and the best commission structure from their web traffic. Innovative LMFX iPhone trader helps its users to trade on the go and experience the functionality of the in-built MetaTrader 4 platform in combination with the cutting-edge iPad technology.

I think the platform should have more than enough to meet the demands of all traders, regardless of how complex your market analysis is. That being said, if you just want to https://forex-review.net/ follow the markets and trade in comfort, then MT4 will certainly suffice. For those who need institutional trading solutions via FIX API, then FXPIG are worth consideration.

The main differences between them is in the spreads and commissions. The account type that you go for will probably depend on what matters the most for your trading strategy. There lmfx review are accounts with tight spreads and a commission fee on top. If you don’t need tight spreads, then you can always opt for an account that has spread mark-ups but no commission fee.

What types of trading accounts does LMFX offer?

There is also an effective live chat option, wherein the traders can have their queries solved immediately, in fact, the live chat option is the fastest mode of communication. It requires a low minimum deposit of 100 USD, along with raw spreads and no markups. Client fund protection and regulation are paramount if not essential qualities that new and advanced traders look for in a broker, especially during this continuously evolving digital era.