LCMFX vs NordFX - Fees Review included
Which broker is better LCMFX or NordFX? Our expert assessment conducted according to TU’s own methodology showed that LCMFX is one of the top brokers in the financial market with the TU Overall Score of 2.89 out of 10. NordFX is one of the top brokers in the financial market with the TU Overall Score of 7.1 out of 10. Find out more about TU Overall Score.
| Feature | LCMFX | NordFX |
|---|---|---|
Overall |
2.2 |
4.1 |
1.2 |
3.5 |
|
2.2 |
4.5 |
|
2.7 |
3.6 |
|
Investment Instruments |
1 |
5 |
Platforms and Charting Tools |
3.1 |
4.5 |
Deposit and Withdrawal |
2.6 |
4.4 |
Research |
1 |
4 |
Education |
1 |
4.2 |
Support |
3.5 |
4.4 |
Bonuses |
3.9 |
3.8 |
|
|
|
LCMFX vs NordFX: Pros and Cons
LCMFX - is a standard universal broker offering CFD trading services. The company focuses primarily on the Asian market - for users with a small and medium level of experience
NordFX is an international company founded in 2008. Over the years, the broker has been awarded over 50 prestigious awards and various prizes. You can find below a shortlist of the company's achievements over the past decade. In 2020, NordFX received the “Best Platform for Central Asset Accounts” award. Earlier in the year, its affiliate program received this award as well as the social trading platform award. According to the Masterforex-V Academy, NordFX became the best world broker in 2019. In 2018, it was declared the Best Broker in Asia. Since 2011, its bonus programs, promotions, and partner programs have regularly been recognized as the best in Asia. The high quality of service was noted and NordFX was recognized as the “Best Forex broker in China” for the quality of its dealing. NordFX operates in nearly 190 countries and has over 1.25 million trading accounts. The company offers services for active and passive trading on the Forex market. It operates under the jurisdiction of the British Virgin Islands.
| LCMFX | NordFX | |
|---|---|---|
| Overall Pros | Free VPS server. Needed for algorithmic trading and trailing | Saving account for investors |
| Broker covers commission transaction costs | Copy trading and PAMM are available | |
| Zero spread account for active traders | ||
| Attractive affiliate program | ||
| Free trading signals | ||
| Free VPS | ||
| Deposits in crypto | ||
| Overall Cons | Lack of transparency in trading conditions. Most of the information on the site is missing | Offshore regulation |
| There is a certificate of registration of a broker in an offshore jurisdiction, but there is no information about any licenses | Only 35 supported FX pairs | |
| High level of markup and fixed commission | High card withdrawal fee |
LCMFX vs NordFX: Safety and Regulation
| Regulated By: | LCMFX | NordFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Registration - Saint Vincent and the Grenadines (SVG FSA) |
VFSC (Vanuatu) |
LCMFX vs NordFX: Trading Conditions
| Trading Conditions | LCMFX | NordFX |
|---|---|---|
Minimum Deposit |
$100 |
$10 |
Trading Platforms |
МТ5 |
МТ4, MT5, MultiTerminal, NordFx Mobile |
Max Leverage (Futures) |
1-1000 for Forex. Other assets have a fixed leverage that does not depend on the leverage of the account. It can be found in the contract specification |
1-1000 |
Supported Markets |
Forex, Commodities, Indices, stocks |
Forex, CFDs on indices, stocks, commodities, crypto, metals |
Trading assets |
100+ |
100+ |
Trading Accounts |
Standard, Zero, Fixed Spread, VIP |
Fix, Pro, Zero, Savings |
Base Account Currencies |
EUR, USD, GBP |
USD |
LCMFX vs NordFX: Fees
Forex Trading Fees
| Fee | LCMFX | NordFX |
|---|---|---|
Standard Account EURUSD Average Spread |
From 1.2-1.5 Pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$10 per lot |
0.0035% per lot (3.5 USD) |
ECN Account EUR Average Spread |
From 0 pips |
0.3 pips |
CFD Trading Fees
| Fee | LCMFX | NordFX |
|---|---|---|
CFD Trading Fee |
Floating and fixed spreads |
Crypto pairs - 0.06% Other CFDs - 0,005% |
Non-Trading Fees
| Fee | LCMFX | NordFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
4% - Card Withdrawal, 0-5% - Payment services, 0% - Bank Transfer |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
LCMFX vs NordFX: Trading Assets
| Asset Name | LCMFX | NordFX |
|---|---|---|
Overall |
100+ |
100+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
LCMFX or NordFX: Investment Programs
| Asset Name | LCMFX | NordFX |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: NordFX or LCMFX
| LCMFX | NordFX | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
NordFx Mobile |
Others |
No |
No |
|
|
|
LCMFX vs NordFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | LCMFX | NordFX |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
LCMFX vs NordFX: Research
| Research Type | LCMFX | NordFX |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
LCMFX vs NordFX: Education
| Education Type | LCMFX | NordFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
NordFX vs LCMFX: Support
| Support Features | LCMFX | NordFX |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
LCMFX vs NordFX: Forex Bonuses and Promo
| Promo | LCMFX | NordFX |
|---|---|---|
Forex Bonus |
Bonus offers: 100% to the first deposit, 50% bonuses for each subsequent deposit, reimbursement by the broker of commissions for deposits and withdrawals, 5 USD cashback for each lot |
Referal bonus 10% |
Affiliate Program |
The broker offers two types of affiliate programs: for private active traders and for owners of web resources, professional marketers, bloggers. Details of affiliate programs are not disclosed |
Up to 60% of referrals spread |
Other Promos |
||
|
|
|
Top 5 Reviews on NordFX
-
Comment
Before opening an account with NordFX and transferring my money here, I studied reviews of this broker and I found many positive reviews. Moreover, the broker offers normal trading and that is why I work with this company.
-
Comment
This company NordFX is known for canceling a trader's profit without any explanation. This happened to me. While trading with an initial deposit of $600, I was able to increase the amount to $1480. All trading was done manually. And then I received an email stating that I had violated some conditions and my profit would be canceled. They only returned my initial deposit. And do you think they returned the entire amount? No, they deducted a 5% commission and an additional fixed penalty. Later, I found out that there are many such cases with NordFX. This company deceived not only me!
-
Comment
A major issue with NordFX is the price charts. During strong market movements, the platform may not work for several hours. I miss the most crucial moment for earning. At night, the GBPUSD pair stays motionless for two hours. Then, movement suddenly starts with a price gap. Opening an order at the desired price with NordFX is very problematic. Therefore, personally, I do not recommend dealing with this company!
-
Comment
At NordFX, there are frequent issues with the trading terminal. Firstly, there are freezes during the release of important news. In such cases, an order may open after a significant price gap, resulting in substantial losses for me. Secondly, I can't understand why the NordFX terminal stops working at different times. This can happen at the most inconvenient moments, and, of course, I incur losses. The support team does not address terminal issues; they simply suggest changing my internet provider.
-
Comment
I encountered a problem opening orders with NordFX. I try to trade actively, and it is important for me to open orders strictly at the stated price. But NordFX, even when opening an order, indicates that the price may differ from the stated one. But I had no idea that the difference would be that huge. First, orders open with delays. Second, the difference between the asking price and the opening price can be 6 pips higher. And this is even in a calm market. On strong movements the difference is significant.
Top 5 Reviews on LCMFX
-
Comment
The customer support is just terrible at LCMFX. After talking with them, the desire to trade in this company was gone. I believe that support is the face of the company, therefore it is not acceptable for such people to work in support. I'll look for a better company.
-
Comment
LCMFX has only two account types - Standard and Pro. I chose the standard one because I wasn't ready to pay a thousand dollars right away. Of the platforms, only MT4 is available. By the way, it works fine: for the month of my trading, it hung up 5 times in total. Expert Advisors are allowed here, but you should not connect them at such a speed, otherwise you will go deep into a loss. But for intraday trading, a broker may be suitable. There are no commissions per lot, spreads are from 2 pips. The choice of instruments is rather limited: currency pairs and metals are all there. For passive income, LCMFX offers only MAMs. Affiliate programs are designed for organizations, not for private traders who want to make money by connecting referrals.
-
Comment
These LCMFX scammers make frequent calls to potential clients. And they psychologically pressure them to replenish their account with at least $ 5,000. And then they take the account management into their own hands and let it all go. Read the reviews, a lot of clients were deceived by LCMFX managers.
-
Comment
There is a big problem with the withdrawal of funds. Three weeks have passed since the withdrawal order was issued, the money is hanging on the deposit, requests remain unanswered.
-
Comment
Broker LCMFX is a scam. Managers call clients and persuade them to replenish their trading account in the amount of $ 5,000 or more. But then this money does not go to the client's account. Several times I received answers from the finance service that my money did not come to LCMFX. But my bank said the money was sent within two days. And it's good that my bank manager started the chargeback procedure. This is the only reason why I can hope that the money will be returned to me. Don't trust LCMFX scammers.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.