Via LMFX' secure website.
LMFX Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- MT4
- LMFX
- 2011
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- MT4
- LMFX
- 2011
Our Evaluation of LMFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
LMFX is a moderate-risk broker with the TU Overall Score of 5.42 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by LMFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
LMFX is a multifunctional broker focused primarily on active and experienced traders.
Brief Look at LMFX
LMFX is a brokerage based in Saint Vincent and the Grenadines that offers a variety of financial services, including the ability to trade on Forex. This broker's activity is not regulated. Since its incorporation in 2015, the company has provided services globally. It is currently a modern and professional broker that strives to meet international service standards.
- a wide range of trading instruments;
- favorable bonus programs for traders;
- the minimum deposit is $50.
- The broker's website is only available in English;
- support service specialists communicate only in English;
- no regulation;
- no possibility to trade CFDs on cryptocurrencies;
- no educational materials or analytics in Russian;
- incorrect operation of the mobile platform.
TU Expert Advice
Financial expert and analyst at Traders Union
LMFX is a broker that has built a reputation in the market as a reliable partner with very favorable terms of cooperation. The company offers three different types of real accounts that are suitable for both professionals and beginners. Separately, the broker provides its own financial analytics, which can be found on the website.
The terms of the LMFX broker are intended for both new and experienced traders, who have their own styles and trading strategies. The broker has been working with Traders Union for several years, and there have been no significant claims regarding its work during that time. Users who have a question can contact the company's support service.
The LMFX website is quite functional and convenient, allowing clients to assess the benefits of working with this broker. At the same time, the website is available only in English, Spanish, and Portuguese, which may prevent many CIS traders from opening an account with this broker.
- You are an experienced trader seeking highly leveraged CFDs and the flexibility to choose between fixed and floating spreads.
- You want to deposit and withdraw using multiple payment options, including cryptocurrencies.
- You are concerned about the lack of regulation associated with this broker.
- You want to use advanced trading tools and features like social trading, copy trading, and signals, which may not be available with this broker.
- You want the broker's website to support multiple languages, and you prefer support service specialists who communicate in languages other than English.
LMFX Summary
Your capital is at risk. Via LMFX' secure website. 71.11% of retail investor accounts lose money when trading CFDs with this provider.
| 💻 Trading platform: | MT4, LMFX |
|---|---|
| 📊 Accounts: | Demo, Premium, Fixed, and Zero |
| 💰 Account currency: | EUR, USD |
| 💵 Replenishment / Withdrawal: | Visa, MasterCard, Skrill, Neteller, Fasapay, Vload, and wire transfer |
| 🚀 Minimum deposit: | $50 ㅤ |
| ⚖️ Leverage: | Up to 1:1000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 lots |
| 💱 Spread: | From 1 pips |
| 🔧 Instruments: | Currencies, stocks, energies, metals, and indexes |
| 💹 Margin Call / Stop Out: | 30-50% / 15-20% |
| 🏛 Liquidity provider: | GTP Global Solutions Ltd |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Instant execution, market execution |
| ⭐ Trading features: | Educational materials in English; Availability of a demo account; Fibonacci calculator. |
| 🎁 Contests and bonuses: | Up to 15% on the first deposit |
LMFX provides its clients with very favorable trading conditions. It should be noted that the minimum deposit is $50, which is quite low, while the spread size starts at 1 pips. The minimum trade volume is 0.01 lots for all account types, and the leverage is up to 1:1000. Trading instruments include currency pairs as well as CFDs on indexes, stocks, and metals.
Clients of the broker use the popular MetaTrader 4 trading platform. Furthermore, all traders can use the trading platform's mobile version (Mobile MT4) to open trades from any point in the world. The broker also provides a web-based version of MT4.
LMFX Key Parameters Evaluation
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Trading Account Opening
It's simple to start saving on spreads with Traders Union and earning with LMFX. Just complete the following steps:
Sign up for Traders Union and then follow the referral link to the broker's website. Then click on the "Open live account" button.
Register on the broker's website. To do so, enter your first and last name (in Latin), current phone number, email address, date of birth, and the currency of the account.
You will have access to the following functions through your user account on the broker's website:
The user account on the LMFX website also contains other useful functions, including:
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financial market analytics;
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an economic calendar with a schedule for the release of important news and a ranking of their significance;
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the trader's support service, with the ability to ask a question or submit a claim;
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access to the trading platform.
Regulation and safety
The activities of LMFX are not regulated.
Advantages
- Due to the absence of regulatory restrictions, the broker is open to clients worldwide
Disadvantages
- The Financial Commission (FC) does not consider claims from traders concerning small amounts
- Claims for compensation for moral harm are not considered.
- Offshore registration
- The regulator accepts claims only in English
- The broker's website lacks the license series and number
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Premium | From $10 | No |
| Fixed | From $10 | No |
| Zero | From $0 | No |
There are swaps (this is the fee charged by the broker if the trade is transferred to the next day).
TU experts conducted a comparison of trading fees between LMFX and competing companies. Based on the fee assessment results, each broker was assigned a corresponding level ranging from low to high.
| Broker | Average commission | Level |
|---|---|---|
|
$6.65 | |
|
$1 | |
|
$8.5 |
Account types
LMFX offers several account types. They are suitable for both novice and experienced traders. Also, accounts differ in the levels of Margin Call and Stop Out, as well as in the size of the spread, minimum deposit, and maximum leverage.
Account types:
Users can also open a demo (training) account to familiarize themselves with the broker's main features and its trading platform.
LMFX is a broker that focuses on cooperation with both novice and experienced traders, as well as providing favorable conditions for implementing all types of trading strategies.
Deposit and Withdrawal
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The company does not charge a fee from traders, but banks or payment systems may charge their own commission.
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Deposit and withdrawal methods include bank transfer, Visa or MasterCard, Skrill, Neteller, FasaPay, and Vload.
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Withdrawals to electronic payment system wallets are instant. Withdrawals to a bank card usually take up to 30 minutes. Bank transfers, on the other hand, can take up to 15 business days.
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Clients can withdraw funds in both dollars and euros.
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Regardless of the withdrawal amount, verification is not required.
Investment Options
LMFX is an excellent choice for traders who trade independently or with the assistance of expert advisors. Also, the broker does not provide passive investment options, other than the use of robots. For experienced traders, there is no opportunity to earn money through PAMM accounts or automatic copying systems.
However, the lack of passive investment is offset by a quietly diverse range of trading instruments. Clients of LMFX, in particular, can trade currency pairs, both basic and exotic, as well as CFDs on indexes, precious metals, raw materials, and stocks. There are no CFDs on cryptocurrencies among the trading instruments available.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
LMFX referral program
"LMFX Partnership" is a program through which traders connect new users and can earn $3 for each lot of trades made by them.
The broker enables the use of profitable referral schemes. The essence of this referral program is that each trader has the opportunity to build his own referral network and thus ensure a consistent monthly income.
Customer support
The support service provides technical and operational assistance 24/5.
Advantages
- Availability of online chat and call center
- A convenient form for sending electronic messages
- The website has a FAQs section
Disadvantages
- Support is not reachable on weekends
- All support is provided in English only
- Time zone differences with support experts
- Email responses typically take 3-4 days
- Traders are not assisted by specialized professionals.
Support services can be reached in the following ways:
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by dialing the phone numbers provided on the website;
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by email;
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by filling out the feedback form;
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in an online chat on the broker's website.
Support is available on the LMFX website as well as through the "Contact us" section of the client's user account.
Contacts
| Foundation date | 2011 |
|---|---|
| Official site | lmfx.com |
| Contacts |
+44 2035192105
|
Education
To assist traders, the broker's website provides access to educational materials (in English only), as well as a dedicated section with various analytical tools that can be of interest to both novice and experienced traders.
Comparison of LMFX with other Brokers
| LMFX | RoboForex | Pocket Option | Exness | FxPro | XM Group | |
| Trading platform |
MT4, MobileTrading, WebTrader, LMFX | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MT4, MT5, MobileTrading, XM App |
| Min deposit | $50 | $10 | $5 | $10 | $100 | $5 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1 point | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0.6 points |
| Level of margin call / stop out |
50% / 20% | 60% / 40% | 30% / 50% | No / 60% | 25% / 20% | 100% / 50% |
| Execution of orders | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | Yes |
Detailed review of LMFX
LMFX has been operating successfully in the financial services market for over 5 years. The company offers quite favorable trading conditions as well as a diverse range of trading instruments, including currency pairs, indexes, stocks, as well as contracts for raw materials and precious metals. The company stays current — its user-friendly MT4 trading platform and several mobile platforms (iPhone Trader, iPad Trader, and Android Trader) enable traders to take advantage of the most trading opportunities.
LMFX's success by the numbers:
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80 thousand trading accounts have been opened worldwide;
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several million trades completed;
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over 5 years of experience in the international market.
LMFX is a worthy broker for both novice and experienced traders.
LMFX is one of the companies that successfully combines the best choice of trading instruments, the ease and speed of withdrawals, as well as profitable bonus programs. Additionally, the broker provides access to useful educational materials that will assist novice traders. LMFX offers the ability to trade on several types of real accounts (Premium Account, Fixed Account, Zero Account) as well as a demo account. All trades (except for trades on a demo account, of course) are brought to the foreign market thanks to the A-Book scheme. This scheme of the broker's work guarantees traders the fastest possible order execution.
Among other things, LMFX provides a variety of useful services, including:
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Fibonacci calculator. This tool allows users to forecast a price correction or trend reversal;
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a calendar of economic events that aids in tracking significant economic events that affect asset value;
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lot size calculator. This tool allows the trader to calculate the position size in lots to properly manage their risks.
Advantages:
availability of a demo account;
convenient MT4 trading platform;
a relatively narrow spread. Availability of accounts with both a fixed and floating spread;
availability of educational materials in English;
a wide choice of trading instruments;
availability of useful services that assist users in their trading activities.
The broker makes no restrictions on the trader's strategy selection. Hedging and locking are permitted, and there is no time limit on holding a trade.
User Satisfaction