LMFX review
LMFX is a Multi-Assets Trading Platform with over 250+ Assets
LMFX is a multi asset platform with 250+ tradable Assets. Assets available on LMFX include Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
LMFX trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing are considered financial assets.
Features of LMFX
- Virtual Portfolio, or what is commonly known as a Demo Account
- Social Trading available
- Copy Trading available
- LMFX offers Advanced Financial Chart comparison tools
- LMFX offers Research-backed analysis on financial markets and investments from top analysts
- The LMFX platform is available to use on multiple devices including Apple Mac computers, and online through a Web Browser.
- LMFX offers a trading platform with tools for both New Traders and Seasoned Experts
- LMFX users benefit from using the LMFX platform in over 15 different languages
LMFX review
What you should know
LMFX offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing. The assets and products available to you on the LMFX trading platform depends on the region of the world, you are in and the LMFX entity you have an account.
With LMFX you will need a minimum deposit of $5. You can sign up for a demo account to acquaint yourself with LMFX platform.
LMFX are able to accommodate various levels of traders whether you are experienced or a beginner.
Are LMFX safe?
When considering LMFX for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as LMFX, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.
Established in 2008, and in operation for 16 years LMFX have a head office in Macedonia .
LMFX is regulated. This means LMFX are supervised by and is checked for conduct by the Live Markets LLC (Live Markets LLC) (T2023402) regulatory bodies.
LMFX withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like LMFX are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. LMFX are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of LMFX and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. LMFX has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, LMFX will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like LMFX, you can enjoy peace of mind and focus on your trading activities. If LMFX violate any regulatory rules their regulated status could be stripped.
Your capital is at risk
Is my money safe with LMFX?
All payments made to LMFX by traders are securely held in a segregated bank account.
LMFX uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.
What are Tier 1 banks and why should LMFX use them?
LMFX partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their LMFX clients' funds.
LMFX clients can have greater confidence in their financial security when working with a Tier 1 bank because LMFX are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.
What does it mean to have your funds in LMFX deposited in a Tier 1 bank?
Depositing funds with LMFX ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if LMFX were to go out of business unexpectedly.
Based on the information presented, it is safe to conclude that LMFX is a secure and safe platform.
Please be aware that trading in financial assets with LMFX carries a risk of loss. LMFX trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.
LMFX emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about LMFX, let's closely examine its features.
To better understand the LMFX trading platform, you can create two separate accounts - one with real money and the other a LMFX demo account. A LMFX demo account provides a risk-free environment for experimenting with the LMFX platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in LMFX trading decisions.
Open a demo account Visit LMFX
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
How LMFX as a Company Compare Against Other Brokers
Broker | lmfx | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Year Established | 2008 | 2007 | 2009 | 2007 |
Head Office | Macedonia | Australia | Belize | Cyprus, UK |
Regulation | Live Markets LLC (Live Markets LLC) (T2023402) | Seychelles Financial Services Authority (FSA) (SD018) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 |
Used By | 80,000+ LMFX users | 200,000+ IC Markets users | 730,000+ Roboforex users | 35,000,000+ eToro users |
Negative balance protection | Yes | Yes | Yes | |
Guaranteed Stop Loss | No | No | No | |
Learn More | Visit LMFX | Visit IC Markets | Visit Roboforex | Visit eToro |
Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 51% of retail investor accounts lose money when trading CFDs with this provider. |
LMFX review
LMFX Pros and Cons
LMFX review
LMFX Regulation and Licensing in more detail
LMFX is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of LMFX going into insolvency. LMFX compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like LMFX to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for LMFX traders.
- Live Markets LLC (Live Markets LLC) (T2023402)
LMFX is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like LMFX you should be sure they're legitimate online agent.
Is LMFX Global?
Yes, LMFX is global as LMFX is available in over 194 countries.
LMFX is a global trading platform in the sense that it operates in 194 countries including nations in Africa, Asia, Oceania, and Europe. Major countries LMFX covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. LMFX has a total of more than 80,000 users.
LMFX review
LMFX Fees Explained
- LMFX withdrawal fees varies on payment method
- LMFX does charge a fee for inactive accounts.
- LMFX does charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from LMFX are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.
LMFX Costs To Check
Modern brokers like LMFX provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, LMFX may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall LMFX trading profitability.
How LMFX Fees Compare Against Other Brokers
Broker | lmfx | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Min Deposit | 5 | 200 | 10 | 50 |
Withdrawal Fees | 10 USD/EUR | No | Yes | Yes |
Inactivity Fees | No | No | Yes | |
Deposit Fees | Varies | No | No | |
CFD Commission Fees | Yes | No | Yes |
LMFX Minimum Deposit
LMFX requires a minimum deposit of 5 GBP/USD/EUR when opening an LMFX trading account.
A minimum deposit is the minimum amount of money required by LMFX to open a new online brokerage account with them.
Don't be scared off by brokers like LMFX charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.
In the trading world, brokers like LMFX, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.
Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.
LMFX Withdrawal Fees
The fees for withdrawing funds from your LMFX account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your LMFX withdrawal request is important.
LMFX Withdrawal rules may vary across different brokers when it comes to transferring funds from your LMFX or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with LMFX may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.
In addition, currency conversion fees may apply if the LMFX withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from LMFX. Researching and comparing LMFX withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing LMFX funds frequently or dealing with large sums of money. Awareness of these LMFX fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your LMFX funds.
For example, LMFX allows you to withdraw your funds to Wire Transfer, Debit Cards, Credict Cards, VISA, Mastercard, Skrill, Fasapay, Neteller, Instacoins, Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Monero, Ripple, Cardano, Dogecoin, Zcash, Stellar, Tron, Binance Coin, USDC, TetherUS, Pax Dollar, TrueUSD, Dai, Chainlink, Band Protocol, Compound, Decentraland, Synthetix, Uniswap, Basic Attention Token, Maker, SushiSwap, yearn.finance, PayPal USD, The Graph, Polygon, Wrapped Bitcoin.
LMFX Inactivity Fees
LMFX does charge a fee for inactive accounts.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by LMFX terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.
Make sure you're fully aware of all LMFX fees and services. It's recommended that you check the LMFX website before signing up. If you decide to close your LMFX account, it's important to do so with the LMFX broker customer support and obtain confirmation that no remaining LMFX fees are due.
Brokers like LMFX must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.
LMFX Deposit Fees
LMFX do charge deposit fees.
Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.
Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.
LMFX Commission Fees
LMFX does charge commission on CFD instruments.
Brokerage firms like LMFX may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the LMFX trading account level held by the trader.
LMFX may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing LMFX terms and conditions to understand the commission fees and any other charges that may apply is essential.
LMFX review
What can you trade with LMFX?
It's essential to note that the trading instruments offered under the LMFX brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the LMFX trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can trade a wide variety of instruments with LMFX over 250 instruments in fact.
If you want to trade currency pairs on global Forex markets, LMFX offer over currency pairs.
LMFX Compared To Other Brokers
Compare LMFX with IC Markets and Roboforex below.
How LMFX Trading Options Compare Against Other Brokers
Broker | lmfx | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Instruments Available | 250 | 2250 | 12000 | 6000 |
Platforms | MT4, PC, MAC, Linux, Web Trader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play) | MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central | MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows | eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web |
FX / Currencies | ||||
Forex pairs offered | 61 | 35 | 50 | |
Major Forex pairs | Yes | Yes | Yes | Yes |
Minor Forex pairs | No | Yes | Yes | Yes |
Exotic Forex pairs | No | Yes | Yes | Yes |
Cryptocurrencies (availability subject to regulation) | No | Yes | No | Yes |
Commodity CFDs | ||||
Commodities Offered | 0 | 20 | 21 | 31 |
Metals | Yes | Yes | Yes | Yes |
Energies | Yes | Yes | No | Yes |
Agricultural | Yes | Yes | No | Yes |
Indiced & Stock CFDs | ||||
Stocks Offered | 2100 | 0 | 2042 | |
UK Shares | Yes | Yes | Yes | Yes |
US Shares | No | Yes | Yes | Yes |
German Shares | No | Yes | Yes | Yes |
Japanese Shares | No | Yes | Yes | Yes |
Risk Warning |
Visit LMFX
Your capital is at risk |
Visit IC Markets
Losses can exceed deposits |
Visit Roboforex
Losses can exceed deposits |
Visit eToro
51% of retail investor accounts lose money when trading CFDs with this provider. |
LMFX review
Trading on LMFX web platforms and other applications
LMFX offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.
A LMFX iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.
LMFX also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.
See LMFX's platformsIs the LMFX Trading Platform Secure?
You should take the security of your personal information seriously and check SSL encryption is enabled on the LMFX trading platform to protect you on PC and mobile LMFX platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using LMFX web trading platforms.
LMFX Trading Platform Options
After logging into your LMFX account, you'll find a range of trading platform options available below.
- MetaTrader 4 (MT4)
Please be aware that LMFX does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.
LMFX does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.
Let's explore each of these trading platforms in detail and what options LMFX gives you.
LMFX review
LMFX MetaTrader 4 (MT4)
LMFX MetaTrader 4 (MT4) In Detail
MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on LMFX offers traders comprehensive features and tools to enhance their trading performance. The LMFX MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the LMFX platform to their needs. One of the standout features of MT4 is its charting functionality, which allows LMFX traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give LMFX traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 LMFX trading platform.
MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the LMFX MetaTrader 4 (MT4) trading platform. MT4 is a platform available with LMFX, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The LMFX MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. LMFX allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.
You can start using the MetaTrader 4 platform with LMFX in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. LMFX MetaTrader 4 is compatible with the latest macOS. LMFX allows traders to trade on mobile devices through Android and iOS devices like the iPhone.
Metatrader 4 Webtrader on LMFX
MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.
The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.
Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.
Trade LMFX MetaTrader 4 on iOS Devices
You can download the LMFX app or trade with LMFX through the MetaTrader 4 application on the Apple app store.
Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. LMFX customers have instant access to the financial market and can completely manage a Portfolio on the go.
Trade LMFX MetaTrader 4 on Android Devices
Millions of people worldwide use Android mobile devices and tablets, and LMFX offers its clients access to the MetaTrader 4 platform on these devices. With the LMFX MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing LMFX traders to stay on top of their trades and react quickly to changes in the market. With the LMFX MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.
Trade LMFX MetaTrader 4 Trading Central
Trading Centrals Alpha Generation Indicators available on LMFX are a powerful bundle of three major indicators designed to help traders make informed decisions. LMFX MT4 Trading Central indicators include:
- Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
- Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
- Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.
Trading Centrals Alpha Generation Indicators can help LMFX traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing LMFX traders to potentially stay one step ahead.
LMFX MetaTrader 4 Advanced Trading Tools
The LMFX MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give LMFX traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, LMFX provides traders with everything they need to succeed. The LMFX MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing LMFX traders to analyze the market at any level of complexity.
Trade LMFX MetaTrader 4 MultiTerminal
MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.
It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.
This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.
LMFX MetaTrader 4 AutoChartist
Autochartist on the LMFX platform is a powerful tool designed to help traders find trading opportunities quickly and easily.
Available for LMFX MetaTrader 4 Autochartist can scan the market using an expert advisor script.
With Autochartist, LMFX traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save LMFX users time and makes the trading process more efficient.
The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. LMFX traders can navigate the platform and find the information they need to make informed trading decisions.
LMFX Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for LMFX traders of all experience levels.
LMFX Trading benefits
- LMFX Allows scalping
- LMFX Offers STP
- LMFX Low min deposit
LMFX Trading Accounts Offered
Below we give an overview of the account types that LMFX offer. Whatever you are looking to trade, the varying LMFX account types will be able to provide you with what you need.
- LMFX Demo account
- LMFX Standard account
- LMFX ECN account
- LMFX STP account
Can I try LMFX?
LMFX provides a demo account that enables individuals to explore trading before investing their funds. By creating a LMFX practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the LMFX demo account can help individuals to make informed decisions before investing their money.
Open a demo LMFX account to practice and trade.
Your capital is at risk
LMFX withdrawal and funding methods
It's essential to remember that the payment methods provided by LMFX vary based on the LMFX entity and the LMFX client's country of residence. To view the LMFX payment options available, you can log into your LMFX member's area.
LMFX offers various funding payment methods listed in your LMFX dashboard if available in your region. To learn more about the LMFX funding and withdrawal options available in your area, you can explore the LMFX website.
LMFX provides several payment methods for funding your LMFX account. You may utilize any of these deposit options if they are available in your region. LMFX ensures that users have multiple payment methods to choose from, making it more convenient for verified LMFX account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the LMFX user's location. learn more about LMFX funding and withdrawal methods.LMFX Payment Methods
Some LMFX payment methods are local and are available only to specific regions. LMFX account holders should check which payment methods are provided in your region.- LMFX accepts Wire Transfer
- LMFX accepts Debit Cards
- LMFX accepts Credict Cards
- LMFX accepts VISA
- LMFX accepts Mastercard
- LMFX accepts Skrill
- LMFX accepts Fasapay
- LMFX accepts Neteller
- LMFX accepts Instacoins
- LMFX accepts Bitcoin
- LMFX accepts Ethereum
- LMFX accepts Litecoin
- LMFX accepts Dash
- LMFX accepts Bitcoin Cash
- LMFX accepts Monero
- LMFX accepts Ripple
- LMFX accepts Cardano
- LMFX accepts Dogecoin
- LMFX accepts Zcash
- LMFX accepts Stellar
- LMFX accepts Tron
- LMFX accepts Binance Coin
- LMFX accepts USDC
- LMFX accepts TetherUS
- LMFX accepts Pax Dollar
- LMFX accepts TrueUSD
- LMFX accepts Dai
- LMFX accepts Chainlink
- LMFX accepts Band Protocol
- LMFX accepts Compound
- LMFX accepts Decentraland
- LMFX accepts Synthetix
- LMFX accepts Uniswap
- LMFX accepts Basic Attention Token
- LMFX accepts Maker
- LMFX accepts SushiSwap
- LMFX accepts yearn.finance
- LMFX accepts PayPal USD
- LMFX accepts The Graph
- LMFX accepts Polygon
- LMFX accepts Wrapped Bitcoin
Broker | lmfx | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Bank transfer | No | Yes | Yes | Yes |
Credit Cards | No | Yes | No | Yes |
Paypal | Yes | Yes | No | Yes |
Skrill | Yes | Yes | Yes | Yes |
Payoneer | No | No | No | No |
Neteller | Yes | Yes | Yes | Yes |
*please note available LMFX and other broker payment methods depend on the clients country of residence.
How can I start trading with LMFX?
To open a trading account with LMFX, individuals can sign up on the LMFX website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.
The next step involves submitting identification documents for LMFX account validation and making a deposit. Once completed, LMFX users can download the trading platform of their choice.
It's important to note that LMFX requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps LMFX maintain a trustworthy financial environment for its 80,000 users. Detailed information on the LMFX trading platforms is available on their website.
Your capital is at risk
Performing trades with LMFX
When using LMFX, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. LMFX have a max trade of varies. With the ECN and STP execution methods offered by the platform, traders using LMFX can enjoy tighter spreads and greater transparency when it comes to the pricing of their trades.
Like other brokers, LMFX margin requirements can differ depending on the traded instrument.
CFD Trading on LMFX
We will show you an example of the basics of using LMFX leverage.
CFD trading on LMFX allows traders to speculate on the price movements of various financial instruments against the broker LMFX, without actually owning real assets. With CFDs, LMFX traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.
LMFX provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.
The effect of leverage on profits and losses magnifies them in both directions. In other words, LMFX leverage profits and losses are magnified when trading. For instance, using CFDs, you use the LMFX trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.
On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, LMFX leverage magnifies both profits and losses in trading.
Trading CFD trades on the LMFX platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.
Experienced LMFX traders can trade high risk CFD trades to hedge items in their portfolio.
Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk
Education Resources at LMFX
LMFX offer educational resources which include Blog Articles, World News, Trading Essentials, . Please bear in mind that these resources provided by LMFX do not guarantee any results when trading. When we checked on the LMFX website, these educational resources were not available in every language. Also some financial instruments mentioned in any LMFX educational resources may not be available in your region.
To trade effectively with LMFX, it's important to have a good understanding of the LMFX trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with LMFX and externally.
LMFX . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with LMFX. Familiarizing yourself with the LMFX trading platform is crucial to use it effectively.
While learning, you can also use global trading times to practice making live buy or sell trades using LMFX. This hands-on experience can help you gain confidence and become more comfortable with trading.
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with LMFX involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
Learning about the financial markets, trading platforms like LMFX, and risk management techniques can help you become a more confident and successful trader.
Take an analytical approach to trading with LMFX. Explore the LMFX platform and train yourself to think systematically and logically about the markets.
While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with LMFX, before live trading.
Customer Support at LMFX
As part of our LMFX review, we review customer service options, response times and problem resolution effectiveness on the LMFX trading platform. The LMFX trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
LMFX Available Support Types
Based on our experience, we have given LMFX a D grade for customer support. We encountered some slow response times or LMFX queries that were left unanswered.
Compared to other brokers, LMFX offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.
email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.Livechat Support at LMFX
Our team tested the live chat support of LMFX and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.
In addition, we tested LMFX support services in various countries and languages and found that LMFX were able to effectively resolve our customer issues.
Email Support at LMFX
We tested the email support of LMFX by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any LMFX response.
The LMFX team did resolve and answer our queries, but the email support from LMFX was overall average compared to other brokers we have tested.
Phone Support at LMFX
We contacted LMFX via phone and received quick assistance within 10 minutes of our call.
The LMFX phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by LMFX and found that they could assist us in various languages.
While we found the LMFX phone support satisfactory, there is room for improvement in response time.
See how LMFX Support Compares Against Other Brokers
Broker | lmfx | IC Markets | Roboforex | eToro |
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Support |
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Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, German, Spanish, French, Italian |
Learn More | Visit LMFX | Visit IC Markets | Visit Roboforex | Visit eToro |
Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 51% of retail investor accounts lose money when trading CFDs with this provider. |
What you will need to open an account with LMFX
As LMFX is regulated by Live Markets LLC (Live Markets LLC) (T2023402).
As a new client of LMFX, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with LMFX in your region. During the LMFX account opening process, you will be asked to provide LMFX with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.
When registering with LMFX have the following documents available.
- LMFX require a scanned colour copy of your passport, driver's license or national ID card.
- A recent utility bill or bank statement that confirms your residential address for LMFX compliance. This must be dated within the last six months.
- If you plan to fund your LMFX account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the LMFX platform.
It's worth noting that the expiration date of the proof of address document may differ for different entities under LMFX Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring LMFX's platform.
However, remember that you won't be able to make trades on LMFX until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the LMFX KYC compliance process as soon as possible to avoid any delays in accessing the LMFX platform's features.
It is important to note that LMFX may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the LMFX platform and features immediately. However, you must pass the verification process to start live trading with LMFX, which can take up to a few business days.
To start the process of opening an account with LMFX you can visit the LMFX trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.
CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.lmfx.com/ on November 05, 2024.
Is LMFX A Good Broker?
We have spent over 5 years examining LMFX in depth. Although we found some very useful aspects of the LMFX platform that would be useful to some traders. We feel that a alternative to LMFX may better suit you.
- LMFX have a good track record of offering Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
- LMFX has a history of over 16 years.
- LMFX has a reasonable sized customer support of at least 10.
- LMFX are regulated by the Live Markets LLC (Live Markets LLC) (T2023402). LMFX is subject to strict regulatory oversight from its respective jurisdiction, which holds LMFX (the broker) accountable for misconduct. This regulatory framework helps ensure that LMFX operates fairly and transparently and provides LMFX customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and LMFX.
- LMFX have regulation from reputable regulators.
- One of the advantages of using LMFX is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from LMFX are particularly important as LMFX traders want to receive their money quickly. With the efficient LMFX payment processing system, traders can enjoy faster access to their LMFX funds.
- LMFX have an international presence in multiple countries. Including local LMFX seminars and training.
- LMFX can hire people from various locations in the world who can better communicate in your local language.
LMFX Risk Disclosure
Your capital is at risk
Trading Risk Disclaimer
Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.
You will be exposed to a high risk of loss regarding leverage and margin-based trading.
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.
LMFX not quite right?
If after reading this LMFX review, LMFX does not fulfill your needs check out these LMFX Alternatives.
Click here to view the best LMFX Alternatives
We have spent years researching the best alternatives to LMFX. Click the links below to learn more.
After extensive research over several years, we have compiled a list of the most effective LMFX alternatives available today. If you are unsatisfied with LMFX or want to explore other options, we recommend checking out our carefully curated list of highly-rated LMFX alternatives. Follow the links below to learn more about these LMFX broker alternatives and choose the one that best suits your trading needs.
- IC Markets Review
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Related LMFX Vs Comparisons
Throughout our comprehensive LMFX review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.
If you're interested in comparing LMFX against other popular brokers in the industry, check out our LMFX Vs pages. Our team has compiled a series of detailed LMFX comparison articles, pitting the LMFX platform against some of the best-rated LMFX competitors in the market. Dive into our informative LMFX Vs pages below to find out how LMFX stacks up against other leading brokers.
- LMFX vs ICMarkets
- LMFX vs Roboforex
- LMFX vs eToro
- LMFX vs XTB
- LMFX vs XM
- LMFX vs Pepperstone
- LMFX vs AvaTrade
- LMFX vs FPMarkets
- LMFX vs easyMarkets
- LMFX vs SpreadEx
- LMFX vs FxPro
- LMFX vs AdmiralMarkets
- LMFX vs ThinkMarkets
- LMFX vs FXPrimus
- LMFX vs Trading212
- LMFX vs ForexMart
- LMFX vs Eightcap
- LMFX vs ForTrade
- LMFX vs InteractiveBrokers
- LMFX vs Forex.com
- LMFX vs IG
- LMFX vs Robinhood
- LMFX vs Coinbase
- LMFX vs Binance
- LMFX vs Oanda
- LMFX vs CMCMarkets
- LMFX vs HargreavesLansdown
- LMFX vs Ayondo
LMFX review
LMFX Frequently Asked Questions
Read our detailed LMFX FAQ Section updated for 2024.
Can I try LMFX?
LMFX offer a demo account so you can try the LMFX platform with virtual trading before you put down a payment. Virtual trading with LMFX is zero risk. Learn more here
What funding methods do LMFX accept?
Please note that the list of payment methods below depends on the LMFX Entity and the client's Country of Residence.
LMFX offer the following funding payment methods Wire Transfer, Debit Cards, Credict Cards, VISA, Mastercard, Skrill, Fasapay, Neteller, Instacoins, Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Monero, Ripple, Cardano, Dogecoin, Zcash, Stellar, Tron, Binance Coin, USDC, TetherUS, Pax Dollar, TrueUSD, Dai, Chainlink, Band Protocol, Compound, Decentraland, Synthetix, Uniswap, Basic Attention Token, Maker, SushiSwap, yearn.finance, PayPal USD, The Graph, Polygon, Wrapped Bitcoin, among other payment methods.
Learn more here
Is LMFX safe?
LMFX have over 80,000 users. LMFX are considered reliable as they are regulated by and checked for conduct by the Live Markets LLC (Live Markets LLC) (T2023402). Any payments funded to LMFX accounts by traders are held in a segregated bank account. For added security,LMFX use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with LMFX is risky, and because the market is so volatile, losses could happen at any time. Do not invest with LMFX unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Your capital is at risk
Is LMFX trading good?
LMFX is considered good and reputable to trade with LMFX. LMFX is used by over 80,000 traders and LMFX users. LMFX offers Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. Minimum deposit with LMFX is 5.
Is LMFX trading Legit?
LMFX was founded in Macedonia in 2008. LMFX has been facilitating trade on the financial markets for over 16 years. LMFX offers clients Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. All funds deposited to LMFX are held in segregated bank accounts for security. LMFX is regulated by Live Markets LLC (Live Markets LLC) (T2023402) so can be considered legit.
Is LMFX a good broker?
LMFX allows Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. LMFX is overseen by the top tier financial regulators Live Markets LLC (Live Markets LLC) (T2023402) so can be considered a good broker.
Is LMFX trustworthy broker?
LMFX is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to LMFX, money is in a segregated bank account that is separate from LMFX company's funds. As a regulated broker, LMFX cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by LMFX. Instead, your LMFX funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with LMFX. Also LMFX is regulated in its local jurisdictions including major financial regulators like Live Markets LLC (Live Markets LLC) (T2023402).
What is the minimum deposit for LMFX?
The minimum deposit to trade with LMFX is 5.
How long do LMFX withdrawals take?
Withdrawing money from LMFX processing time varies depending on the method but averages 1-5 days.
Is LMFX regulated?
LMFX is regulated by the Live Markets LLC (Live Markets LLC) (T2023402). Regulatory bodies conduct regular reviews and audits as part of LMFX maintaining their regulatory status. You can learn more about these reviews on the regulator websites.
Is LMFX a market maker?
LMFX is a market maker. Stocks, currency and other commodities and instruments will be brought or sold by LMFX even if no buyer or seller is lined up.
How can I start trading with LMFX?
When opening a trading account with LMFX, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on LMFX trading platforms, you can follow the link provided below: Learn more about signing up with the LMFX trading platform here. This will provide useful information and insights into the various trading platforms offered by LMFX, enabling you to make an informed decision about which platform to choose for your trading needs.
Is my money safe with LMFX?
Yes your money is safe with LMFX.
Overall, strict financial regulation is essential for ensuring that trading platforms like LMFX operate fairly, transparently, and responsibly, which ultimately benefits all LMFX stakeholders involved.
Trading platforms like LMFX must have strict financial regulation for several reasons:
- Protecting LMFX Investors: Strict financial regulation ensures that investors who use the LMFX trading platform are protected against fraudulent or unethical behavior by the LMFX platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the LMFX platform.
- Maintaining LMFX Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the LMFX trading platform. Regulatory procedures reduce the likelihood of the LMFX platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
- Enhancing LMFX Transparency: Regulations require trading platforms like LMFX to maintain detailed records and disclose LMFX client information. Financial regulatory requirements enhances transparency and helps to build trust between the LMFX platform and its investors.
LMFX is regulated by the Live Markets LLC (Live Markets LLC) (T2023402). When selecting a broker such as LMFX, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, LMFX ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like LMFX.
Is LMFX a con?
LMFX is regulated and well established, having been in business for over 16 years. LMFX is not a con.
Can you make money with LMFX?
Although traders have had great success with LMFX, trading on the financial markets with LMFX is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.
Does LMFX have fees?
LMFX withdrawal fees vary on payment method.LMFX does charge a fee for inactive accounts. LMFX do charge deposit fees.
When was LMFX founded?
LMFX was founded in 2008.
How many people use LMFX?
LMFX is used by over 80,000 registered LMFX users.
What is LMFX Headquarters country?
LMFX has its head quarters office in Macedonia .
Does LMFX offer negative balance protection?
LMFX does not offer negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.
Does LMFX offer guaranteed stop loss?
LMFX does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.
Does LMFX allow scalping?
LMFX offers scalping.
Does LMFX allow hedging?
LMFX does not offer hedging.
Does LMFX offer CFD trading?
LMFX offers CFD trading.
Does LMFX offer STP?
LMFX offers STP trading.
How many people use LMFX?
LMFX is used by over 80000 LMFX users and traders.
Is LMFX an ECN broker?
LMFX offers ECN trading.
Does LMFX offer a demo account?
LMFX offers a demo account.
Does LMFX offer an Islamic account?
LMFX does not offer Islamic accounts.
What are the funding methods for LMFX?
Please note that funding methods and options available with LMFX can be found in the LMFX Members area and depend on the LMFX client’s country of residence. Please check your specific available payment methods on the LMFX website. LMFX accept the following funding methods : Wire Transfer, Debit Cards, Credict Cards, VISA, Mastercard, Skrill, Fasapay, Neteller, Instacoins, Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Monero, Ripple, Cardano, Dogecoin, Zcash, Stellar, Tron, Binance Coin, USDC, TetherUS, Pax Dollar, TrueUSD, Dai, Chainlink, Band Protocol, Compound, Decentraland, Synthetix, Uniswap, Basic Attention Token, Maker, SushiSwap, yearn.finance, PayPal USD, The Graph, Polygon, Wrapped Bitcoin.