LMFX Review And Rating

New Clients must register with LMFX first in order to open a demo account whilst existing clients may log in to their Wallet and open the trading account directly from there. 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, suppose you are looking to trade major indices, specifically the Hang Seng index of Hong Kong, the Shanghai SE Composite index or China, or Nikkei 225 of Japan. In that case, you are better off with a different broker that offers these products. They also lack lumber, cotton, cocoa, wheat, and soybean in their tradable commodities list.

Cost and Fees, Commissions and Spreads

There is no monetary risk warning involved in it; traders earn while they learn the various trading strategies. They have to master their trading skills while competing for cash prizes every month. According to the LMFX review, it allows traders to make deposits and withdrawals using any payment method from a variety of payment options. The deposit method also includes bank wires and credit/debit cards . Though the LMFX broker offers both fixed and variable spreads, they are all subject to change; sometimes it could be as low as 0 pips, and sometimes it could also exceed 25 pips. The fixed spread is generally higher but that too depends on the market volatility.

On the other hand, going short means you sell a market as you expect the price to drop. Access to a paper trading account with $1,000,000 worth of paper funds. No, LMFX is not a regulated broker but a duly registered and compliant company based in North Macedonia.

It offers three different trading platforms , competitive spreads, flexible bonus offerings and a personal account manager that can help guide you through the process. Additionally, you can also access metals and difference between client side and server side javascript 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.

LMFX only provides the core MT4 trading platform and not seven, as stated on the homepage. The LMFX Zero Account offers the best trading conditions, just outside of the competitive range. LMFX primarily provides Forex and equity CFDs, but from a single trading platform and not seven as the website claims. High leverage and bonuses aid this broker in executing their business plan successfully. That warrants a closer look at this unregulated and relatively unknown broker. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker.

67.7% of retail investor accounts lose money when trading CFDs with this provider. LMFX notes seven trading platform on its homepage, but it only provides traders with the below-average out-of-the-box MT4. It lists the availability for the MT4 as a desktop client, webtrader, and three mobile alternatives for a total of five versions of the same product. The MT4 infrastructure allows traders to upgrade the core version into a cutting-edge trading terminal, but it requires paid-for upgrades, which LMFX does not provide.

Trading Environment

As a newbie in the field of binary options trading, Lmfx is a binary options broker established in the UK in 2014, providing an intuitive and innovative way to enter the financial market. Like most brokers in the industry, Lmfx provides the popular MetaTrader 4 platform. The available trading platforms are MT4, and WebTrader & the site claims 24/5 customer service. However, the call support did not respond, while other connecting methods were slow. The deposit and withdrawal is time taking, and there are several hidden charges. Here, we would highlight the LMFX broker review for all the clients.

LMFX is a online broker, established in 2015 solely based in offshore zone SVG. Jennifer Mitchell is an entrepreneur, business analyst and writer for DittoTrade. Professionally, Jennifer has published pieces on over forty financial websites throughout the web. Her passion for all things business flows through the content she provides. In her free time, you’ll find her well, working, because her hobbies and career are one in the same. With the lack of regulation taken into consideration however, it should be noted that there have been no clear events to indicate a lack of trust with LMFX.

LMFX delivers what traders in today’s financial markets need the most! LMFX’s premium account has a minimum trade size staring at 0.01 lots and a minimum deposit of $50. The account allows clients to trade up to 60 lots in one trade. LMFX is an online Forex broker offering advanced institutional and retail trading conditions. This brokerage provides trading opportunities on Forex and CFDs on Commodities, Indices and Shares.

MT4 is well-known and highly respected throughout the trading community. Testament to this fact is that the platform has been around for more than a decade since its original launch back in 2005. From the outside, they appear to have a professional-looking website and many interesting offerings. Broker Lmfx claims on its website that it complies with KYC and AML (Anti-Money Laundering) policies and standards.

At LMFX, you get the opportunity to trade forex at the best possible tight spreads so that they can earn profits even when their capital is at risk. They have a good reputation within the industry and a great customer support team! The only thing that lets LMFX down as a broker is the fact they are not regulated by any governing bodies. This is a huge risk to traders and can pose a whole range of problems in the future. For this reason alone, if you are a more experienced trading looking to deposit a large amount of capital, I would advise trading with a more regulated broker like IC Markets, Blackbull marketsor even Hot Forex.

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. All that the traders need to do is, fill up a form and press the Calculate button. Then there is an exciting promotional offering offered to LMFX traders called, ‘Learn and Earn Contest’. However, this contest is only available for LMFX demo account holders.

Spreads And Commission

You can even open a free demo account and see how you get on before making any financial commitment. LMFX is such a platform that offers a safe platform and negative balance protection to traders for a variety of assets that include stocks, shares, forex pairs, commodities, and indices. However, the fact that LMFX is not regulated does not affect the traders much, and it is very clear from the various LMFX reviews available.

Despite LMFX’s subpar reputation, the platform boasts over 10,000 users across the globe.

Another great feature is that you can set price alerts so you can always stay in the loop about your open positions and never miss any unique trading opportunities. Overall, the MT4 trading platform provides a great trading experience for all types of investors and online traders. Furthermore, opening either a demo or live trading account is a simple, fully digital process and only takes a few minutes to complete. VPS hosting is available, which supports automated trading solutions. The cost of $20 per month is acceptable, but this broker does not provide full details of its provider. Traders with a minimum deposit of $5,000 will get the benefit of free VPS hosting, but the product and services portfolios at this unregulated broker do not create conditions to warrant such a capital commitment.

As such, traders will either have to accept a sub-standard trading platform or invest their own capital to gain a competitive edge. The limited asset selection and above-average trading costs at LMFX do not warrant an upgrade, but traders can use any MT4 plug-in at all MT4 brokers. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. The broker’s Choosing The Right Forex Broker 50 currency pairs are all available for trading in all three account types. A demo account is a wonderful way to get an introduction into the online trading markets and allow you to experience – as closely as possible – the actual market conditions you will be exposed to. Users can simply fill up the short online registration form followed by verifying their email address.

What can I trade with LMFX?

Wide range of forex trading tools including Fibonacci Calculator, Pivot Points, Pip Value, and more. Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. Through the broker, you can trade commodities including softs; wheat, sugar, coffee, corn and metals; palladium, copper and platinum. LMFX contract for differences on commodities allows traders to speculate on the fluctuating prices of the commodity without needing to physically own it.

Trading on VPS with LMFX gives you access to over 250 financial instruments 24/5. Ultra Low Latency Our servers are located next to the Trading environment for almost zero delays when trading. Windows & MT4 Ready The VPS comes with LMFX MT4 Terminal installed so that you can start trading instantly. If you choose a broker, remove Lmfx from your list and select only a regulated and duly licensed broker. If you have already signed a contract or sent money to this scam broker, please contact btc-scam as soon as possible to get in touch with the Fund Recovery specialists to withdraw funds to Lmfx. Therefore, we recommend that you report fraud and submit a review to Lmfx as the first step towards getting your funds back.

Further, the available methods are limited and the service provided on them is of low quality. Bank wire transfer, debit/credit cards, and some of the e-wallets. There are no popular portals available such as Trustly, Safecharge, VPay, and more.

Where LMFX Could Do Better ‍

The account opening process of LMFX broker is time taking and complex to complete. It takes around 2-3 days to open an account with LMFX broker and requires several irrelevant, personal information. Today there are hundreds of get rich quick scams online, and most people lose their money. For complaints and issues with withdrawing your money, read this. We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here.

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. These account options sound tempting, but trading on Lmfx is just a scam. Compared with some competing binary options brokers, Lmfx tokenexus has more limited deposit methods. Compared with many other brokers, the trading tools available on the Lmfx platform are relatively limited. From the reviews of Lmfx brokers, traders from all over the world can understand that they provide five types of accounts, each with its own trading characteristics and different minimum deposit amounts.

LMFX com profile provided by Maria LMFX, Nov 27, 2015

LMFX offers its retail and institutional clients an amazing affiliate partnership program. Both offline and Online programs for affiliates are available for traders that pay top commissions for referred clients to the LMFX platform. As the name implies, this bonus offer caters to those traders who have money pending in their accounts after they make their first deposits on LMFX. The brokers zero account offers low trading with no mark-ups and spreads as low as 0.0 pips.

A+ Would lose money due to terrible trading knowledge again Service use: LiveLength of use: 0

In our LMFX review shows the main three types offered are Premium, Zero and Fixed accounts, having different spreads commissions, leverage and other minor differences. Free demo accounts with unlimited usage of up to 100,000 fake dollars are available to test out the service as well as test any trading strategies or Expert Advisors (E.A.s)…. LMFX have a wide selection of instruments for trading Forex & CFDs. They offer flexible account types & competitive trading conditions for traders of all levels. In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor. If the potential client still does not understand the risks involved in trading in any financial instruments, he/she should not trade at all.