LMFX Review 2020

LMFX Rated 3/5
learn more Learn more about eToro. 71% of retail investor accounts lose money when trading CFDs with this provider.
LMFX Review Screenshot

LMFX Guide - Read our In Depth LMFX Review

This LMFX review was written by industry experts with over 20 years of financial experience in Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

What is LMFX?

LMFX are an a global online financial trading platform and multi asset broker founded in 2008

Over 12 years later LMFX has grown to offering retail investors Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading.

LMFX are a global broker and have a head office in Macedonia .

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this LMFX review and assess how well the LMFX platform functions in its role as an international multiple financial asset trading platform for traders in 2020.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like LMFX can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of LMFX we breakdown the pros and cons. What LMFX are able to offer, what countries LMFX are available in. Who LMFX are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this LMFX review useful.

This review of the LMFX platform is very detailed. If you are interested in trading with LMFX in any capacity please take the time to read and research the whole LMFX review.

We have tried to explain the ins and outs of financial trading through the LMFX platform as plainly as possible so that you the trader are as informed as possible before you start to use the LMFX trading tools and depositing and withdrawing funds from LMFX.

Benefits of trading with LMFX

Open LMFX's Website

Your capital is at risk

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with LMFX like Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. you should have confidence in LMFX and know that the management of your financial investments on the LMFX platform is in good hands.

At the bottom of this LMFX review you can also learn about some pretty good alternatives to LMFX

With this LMFX review we hope to help you see if LMFX is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding LMFX that will help you get off to a good start in the world of online trading.

LMFX Review Table of Contents

LMFX review
LMFX is a Multi-Assets Trading Platform with over 161+ Assets

Learn more about LMFX. LMFX is a multi asset platform with 161+ tradable Assets. Assets available on LMFX include Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

LMFX trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing are considered financial assets.

LMFX review
Features of LMFX

LMFX review
What you should know

LMFX offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

With LMFX you will need a minimum deposit of $50. 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.

LMFX review
Are LMFX safe?

When choosing a broker like LMFX the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 12 years LMFX have a head office in Macedonia .

LMFX is not regulated. This means LMFX are not supervised by any regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to LMFX, this will be honored.

LMFX review
Is my money safe with LMFX?

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 banks financial health and strength.

What are Tier 1 banks and why should LMFX use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in LMFX deposited in a Tier 1 bank?

Having any money you deposit with LMFX means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if LMFX goes out of business for some reason.

Therefore, we can safely conclude that LMFX is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. LMFX also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding LMFX. let us look at the LMFX features in more detail.

Try creating two accounts when you are working with LMFX. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit LMFX

Your capital is at risk

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 eToro IC Markets XTB
Year Established 2008 2006 2007 2002
Head Office Macedonia  Cyprus, UK Australia Poland
Regulation Unregulated Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 10,000+ LMFX users 12,000,000+ eToro users 60,000+ IC Markets users 250,000+ XTB users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit LMFX Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

LMFX review
LMFX Pros and Cons

What we like about LMFX

  • Used by over 10,000 LMFX users and traders
  • Established in 2008
  • Min. deposit from $50

What we don't like about LMFX

LMFX review
LMFX Regulation and Licensing in more detail

LMFX are not supervised or regulated by any well known regulatory bodies. Its normal to find online brokers like LMFX that are not regulated yet appear to be legitimate.

LMFX maybe relatively new. Some brokers provide their service under offshore licenses to save operational costs. Regulatory licensing can be very costly. We recommend only trading with regulated brokers. Should anything go wrong with LMFX you are not guarenteed help in a difficult situation.

  • Unregulated

LMFX review
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 nations including nations in Europe, Asia, Oceania, and Africa. Major countries LMFX covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. LMFX has a total of more than 10,000 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.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How LMFX Fees Compare Against Other Brokers

Broker lmfx eToro IC Markets XTB
Min Deposit 50 200 200 0
Withdrawal Fees 10 USD/EUR Yes No varies
Inactivity Fees Yes No No
Deposit Fees No Varies No
CFD Commission Fees No Yes Yes

LMFX review
LMFX Minimum Deposit

LMFX require a minimum desposit of 50 GBP/USD 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.

Dont be scared off by brokers like LMFX charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

LMFX review
LMFX Withdrawal Fees

LMFX withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

LMFX for example allow you to withdraw your funds to Credit Card, Debit Card, Neteller, Skrill, Fasapay, Bank Transfer.

LMFX review
LMFX Inactivity Fees

LMFX does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

LMFX review
LMFX Desposit Fees

LMFX does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

LMFX review
LMFX Commission Fees

LMFX does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

LMFX review
What can you trade with LMFX?

Be aware that Different entities under LMFX Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with LMFX over 161 instruments infact.

If you are looking at trading currency pairs LMFX offer over currency pairs.

Compare LMFX with eToro and IC Markets below.

Your capital is at risk

How LMFX Trading Options Compare Against Other Brokers

Broker lmfx eToro IC Markets XTB
Instruments Available 161 2000 232 4000
Platforms Android,WEB,Desktop,iPhone,Mac Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 50 65 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs No Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 19 21
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 957 100 1696
UK Shares Yes Yes No 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 eToro
71% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

LMFX review
Trading on LMFX web platforms and other applications

LMFX offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

An 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 making it easier to keep an eye on and execute your trades while you’re on the move.


See LMFX's platforms

LMFX review
Is the LMFX Trading Platform Secure?

LMFX safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. LMFX also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating LMFX.

LMFX review
LMFX Trading Platform Options

LMFX does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

LMFX offer an their own custom trading platform developed and tested in house. The LMFX trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades. The LMFX platform allows traders to filter the financial marketplace for trade opportunities that match a criteria. With LMFX you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the LMFX platform including news and quotes. Discover possible trades with the strong charting tools found with LMFX. LMFX is available as downloadable applications or online through the cloud. Monitor your orders with LMFX and receive breaking news in your positions.

LMFX Trading benefits :

  • Allows scalping
  • Offers STP
  • Low min deposit

LMFX Trading Accounts Offered :

  • Demo account
  • Standard account
  • ECN account
  • STP account

Can I try LMFX before I buy?

LMFX offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

LMFX withdrawal and funding methods.

Please note that the list of LMFX payment methods below depend on the LMFX Entity and the Clients Country of Residence.

LMFX offer the below funding payment methods. learn more about LMFX

LMFX Payment Methods

  • LMFX accepts Credit Card
  • LMFX accepts Debit Card
  • LMFX accepts Neteller
  • LMFX accepts Skrill
  • LMFX accepts Fasapay
  • LMFX accepts Bank Transfer
Broker lmfx eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes No Yes
Neteller Yes Yes Yes Yes

How can I start trading with LMFX?

When opening a trading account with LMFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on LMFX trading platforms here.

Your capital is at risk

Performing trades with LMFX

LMFX allow you to execute a minimum of trade of varies. This may vary depending on the account you open. LMFX allow you to execute a maxium trade of varies. As LMFX offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

LMFX Leverage and LMFX CFDs Explained

let's take a look at some of the basics of using LMFX leverage.

LMFX offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

LMFX leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the LMFX trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The LMFX leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

LMFX CFDs are typically used for short to medium term trades. For example LMFX intraday trading.

Education resources at LMFX

To trade effectively with LMFX, it's important to get a have a good understanding of the LMFX trading tools and the markets.

LMFX offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with LMFX.

Take time to look around the LMFX platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at LMFX

LMFX support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

LMFX have a D grade support rating because because sometimes the response was slow or our query wasnt answered. LMFX less customer support features compared to other brokers like live chat, phone and email support. 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

We tested the LMFX live chat and it works well. We sent messages to LMFX livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with LMFX support in multiple languages in multiple countries. LMFX where able to resolve our customer issues.

Email Support at LMFX

We sent several emails to LMFX and answer times overall were excellent. The fastest response from LMFX was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with LMFX, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from LMFX.

Phone Support at LMFX

We called LMFX and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The LMFX phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual LMFX team by calling in varying languages. LMFX made an effort to make sure our queries were answered.

Overall the phone support from LMFX was okay.

See how LMFX Support Compares Against Other Brokers

Broker lmfx eToro IC Markets XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit LMFX Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with LMFX

As LMFX is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under LMFX Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore LMFX's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with LMFX you can visit the LMFX trading platform here.

CFDs are leveraged products and can result in the loss of your 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 as investment advice. All information collected from https://www.lmfx.com/ on November 28, 2020.

LMFX review
Is LMFX A Good Broker?

We spent over 3 months examining LMFX in depth. Although we found some very useful aspects of the LMFX platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative LMFX broker.

  • LMFX have a good track record of offering Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
  • LMFX has a history of over 12 years.
  • LMFX has a reasonable sized customer support of at least 10.
  • LMFX are regulated by Unregulated. This means LMFX fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • LMFX have regulation from a Tier 1 reputable country.
  • LMFX has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • LMFX have an international presence in multiple countries. This includes local LMFX seminars and training.
  • LMFX are able to hire people from various locations in the world who can better communicate in your local language.

LMFX Risk Disclaimer

Your capital is at risk

LMFX review
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.

If you feel some of the above LMFX are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of LMFX alternatives below.

LMFX review
Related LMFX Vs Comparisons

We have covered allot in this LMFX review, If you want to see how LMFX compares side by side with other brokers check out our LMFX Vs pages.

If you would like to see how LMFX stands up against other brokers you can read some of our LMFX comparisons below. We compare side by side some of our top rated LMFX versus comparisons. Read our indepth LMFX VS pages below.

LMFX review
LMFX Frequently Asked Questions

Can I try LMFX before I buy?

LMFX offer a demo account so you can try the LMFX platform before you put down a payment. Learn more here

What funding methods do LMFX accept?

Please note that the list of payment methods below depend on the LMFX Entity and the Clients Country of Residence.

LMFX offer the following funding payment methods Credit Card, Debit Card, Neteller, Skrill, Fasapay, Bank Transfer, among other payment methods.
Learn more here

Your capital is at risk

Is LMFX safe?

While LMFX may not be considered unsafe, they are not regulated or supervised by any major regulatory body. Depending on your trading style this may be okay. We recommend you trade with a regulated broker.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 banks financial health and strength.

Is LMFX trading good?

LMFX is considered good and reputable to trade with LMFX. LMFX is used by over 10000 active traders and LMFX users. LMFX offers Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. Minimum deposit with LMFX is 50.

Is LMFX trading Legit?

LMFX was founded in Macedonia  in 2008. LMFX has been facilitating trade on the financial markets for over 12 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 tier 1 bank accounts for security. LMFX is not regulated. Although this doesnt mean LMFX are awful, we recommend trading with regulated brokers.

Is LMFX a good broker?

LMFX is overseen by the top tier financial regulators Unregulated so can be considered a good broker. LMFX allows Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading.

Is LMFX trustworthy broker?

While having many plus points because LMFX is not regulated we personally would not trade with them. Make any broker you trade with is regulated and places any funded money into segregated tier 1 bank accounts. If your money is in a segregated bank account the broker has no direct access to your funds so cannot misappropriate your money.

What is the minimum deposit for LMFX?

The minimum deposit to trade with LMFX is 50.

How long do LMFX withdrawals take?

Withdrawing money from LMFX processing time varies but averages 2-5 days.

Is LMFX regulated?

LMFX is not regulated by a top tier financial regulator.

Is LMFX a market maker?

LMFX is a market maker. Stocks, currency and other commodities and instruments will be purchased by LMFX even if no buyer is lined up.

How can I start trading with LMFX?

When opening a trading account with LMFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on LMFX trading platforms here.

Is my money safe with LMFX?

LMFX is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like LMFX is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to LMFX, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is LMFX a con?

While we would noy say that LMFX is a con. Because they are not regulated by a top tier financial regulator we would not trade with them.

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 varies on payment method. LMFX does charge a fee for inactive accounts. LMFX does charge deposit fees.

When was LMFX founded?

LMFX was founded in 2008.

How many people use LMFX?

LMFX is used by over 10000 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 means 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 guarenteed 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 10000 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?

LMFX accept the following funding methods : Credit Card, Debit Card, Neteller, Skrill, Fasapay, Bank Transfer.

LMFX review written by Andrew Blumer and Mark Hansen

We hope you found our review of the LMFX brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

LMFX review written by Mark Hansen of Comparebrokers.co