Forex Reviews

Lmfx Review Is It A Safe Broker Or A Scam

Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice. LMFX offers its customers an in-depth market analysis on a daily basis pertaining to the prices of assets and the movements of the global financial markets.

lmfx review

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. 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 trading fees may be Margin trading higher with a low minimum deposit account. 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.

What Funding Methods Do Lmfx Accept?

LMFX offers 48 currency pairs, so that most traders will be happy with this selection. Pricing is Variable with the Premium account; fixed with the Fixed Account and tight spreads plus Hedge commission with the Zero Account. Swaps are allowed, and triple SWAPS are applied on positions held over a Wednesday. Inactivity fees are not specific to online trading accounts.

  • The premium and fixed accounts have no commissions but the Zero accounts pay a commission of $4 per trade.
  • In this section of our LMFX review, we will take you through how to open an account and start trading with LMFX step by step.
  • LMFX outlines the security of client deposits on its website.
  • We recommend you trade with a regulated broker.Any payments funded to LMFX accounts by traders are held in a segregated bank account.
  • These are forex, indices, commodities, metals and oil, and stocks.

Forex traders have access to just 48 currency pairs, and no cryptocurrencies, but an acceptable 12 commodity CFDs. Completing the list are 36 equity CFDs and nine equity CFDs for a total of 105 assets. While this may be enough for new retail traders with smaller portfolios, LMFX fails to provide broad choices for more demanding clients.

LMFX daily publishes financial news and market analysis that clients can use in their trade. Also traders have access to training materials that are created to teach customers to use available knowledge in trading. Technical customer support is available via live chat, email and phone 24/5.

Research And Tools

The service will cost $20/month or is provided free to clients with a trading account balance of over $5,000. Deregulation also means that if/when something goes wrong, traders don’t have the same protections as a regulated broker, and therefore there is more risk. LMFX states that their client’s funds are held in designated and segregated, pooled “client accounts,” separate from the company’s accounts.

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. Trading with this broker is easy and the spreads are low as compared to other brokers i traded with. No, LMFX is not a regulated broker but a duly registered and compliant company based in North Macedonia.

Lmfx Trading Platforms

LMFX is such a platform that offers a safe platform and negative balance protection to traders for a variety of assets that includes 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. In this LMFX broker review, all the important points about the forex broker are discussed that can help the traders make the right choice in the future. We’ll review LMFX for its products and services after thorough research.

lmfx review

The spreads are average as other brokers offer and since i trade major pairs only so these spreads are ok for me. I have made many withdrawals so far, since almost i make withdrawal every end of month and it is processed with in acceptable time. I think this broker can be recommended option to take a start because i haven’t had any issues since i have been trading with these guys. Over 15 years experience in forex, commodities and equities markets research.

Author Of This Review

Those two tools are very handy for veteran traders however, the web site lacks the educational and informational material for novice traders. LMFX provides modern trading tools and platforms for its clients. They claim to provide fast execution lmfx review times and most importantly, automated withdrawals of trading profits. The company website states that trader funds are segregated and deposited in secured accounts. So, traders’ deposits are safe even if LMFX becomes bankrupt.

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. LMFX, owned by North Macedonian-based Global Trade Partners Ltd, is an unregulated multi-asset broker which has been in operation since 2015. Regrettably, there is no information available about Global Trade Partners Ltd.

While all of the major pairs and top assets are represented in the list, there is one asset type that is currently missing – cryptocurrencies. This fact will be very important for those who are searching for a platform within which they can trade Bitcoin, Etherum, Litecoin, Ripple and more. The saying, “if it isn’t broke, don’t fix it” could apply here, as LMFX chooses to provide the widely preferred MetaTrader 4 platform. The same as most brokers, they also offer the platform in application format, as well as in WebTrader format.

Why Choose Lmfx

The fund you withdraw using these methods will be credited to your account on the same day, except for Visa and MasterCard. These usually take 2 to 15 business days, depending on your card provider. For Skrill, Neteller, Fasapay, and Vload, the minimum deposit is 50 EUR/USD and transferring your funds are usually instant. It may take two up to 15 working days to process your fund transfer.

As the time of this writing, they are offering three different contests for traders to participate in, each of which offers cash prizes. Check their website for information on the most recent round of live contests. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions.

Lmfx Ratings

This brokerage provides trading opportunities on Forex and CFDs on Commodities, Indices and Shares. LMFX uses the well-known and widely favored MT4 trading platform, complete with a host of tools. Located in the Republic of Macedonia, LMFX is owned and operated by Global Trade Partners Ltd. As one of the younger brokerages , LMFX had a lot to prove. The processing time depends largely on the payment methods and providers; most LMFX withdrawal requests are processed instantly or take a maximum of 15 business days.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions. Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill. LMFX withdrawal fees vary depending on your selected withdrawal payment method.

Join now and use our latest client area, which applies all the latest technologies, in order to provide you with the easiest and efficient way to handle your accounts. Extensive educational Eurobond materials aimed to guide you through the exciting world of financial markets. LMFX offers a variety of tools, education materials, contests and bonuses in order to meet traders’ needs.

LMFX is not regulated by any financial authority, however, there are several measures that the forex broker adopts to ensure its clients’ funds and data are protected. The Deposit Match Bonus funds are provided to help increase the available trading capital and leverage. Let’s take a look at an example; a first deposit of $200 leads to the receipt of an additional $200 referred to as the Deposit Match Bonus. After having traded the volume of 100 lots you can withdraw the bonus without restrictions. When you make an initial deposit into a Phoenix Bonus account you receive a number of pending funds on your account. These pending funds mirror a known portion of your FTD and should you lose your entire trading funds, the Phoenix Bonus will be placed into your account the next time you deposit.

Both retail and institutional clients can benefit from the advanced trading service offered by the broker. Clients also have full access to exceptional educational resources via the LMFX Education Centre and advanced trading tools that have been designed to improve trading performance. LMFX is an online trading platform of many financial instruments across multiple markets, offering three account types to match different trading styles. The trading platform has relatively low spreads, high transaction speeds, and some accounts offer no commissions. The elephant in the room and a deal-breaker for some will be the fact that the service is based in Macedonia, and thus, its Forex and CFD trading is unregulated by any governmental body. In summary, LMFX is a good forex and CFD broker for both long-term and regular traders looking to trade with fixed and variable spreads.

Payments deposit are instant with no issues with the withdrawals too. Reply by Maria LMFX submitted Apr 8, 2021 Sir, once again we would like to point out that LMFX doesn’t have any interest in you losing your funds. We are an STP broker which means that we gain our profits from the spread so the more you win, the more we win. Hence, we don’t have any advantage of your loss or “stealing your money”. You can check their minimum and maximum deposit requirements in your Wallet.

With the LMFX MetaTrader 4 trading terminal, you can use more than 50 technical indicators and advanced charting and analysis tools. 67.7% of retail investor accounts lose money when trading CFDs with this provider. 67% of retail investor accounts lose money when trading CFDs. Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors.

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