LMFX broker review

Moreover, LMFX has a handy economic calendar so that you can keep track of the latest market news. LMFX is just a simple online broker that provides traders with the most basic trading instruments at a moderate cost. They accept clients from all over the world and allow clients to trade without the bounds of regulatory restrictions. They provide the popular MT4 platforms on desktop and mobile devices.

This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones for their needs. Skrill also provides cross-border payment through its remittance service Skrill Money Transfer. It allows customers to transfer money to a bank account in another country using their bank card. It was in the year 2015 that Skrill was acquired by the Paysafe Group along with former rival Neteller and the prepaid payment company paysafecard. Skrill is a digital wallet company that was founded in 2001 which offers a variety of online payment and money transfer services.

The support is available 24 hours a day for five days in a week. The channels available are web chat, telephone, email and a contact form available on the website. They are also available on social media such as Facebook, Twitter, Google+ and LinkedIn.

Premium Account is carefully tailored to meet the trading needs of retail FX traders and with the minimum trade size at 0.01 lots. Client fund protection and regulation are paramount if not essential qualities that new and advanced traders look for in a broker, especially during this continuously evolving digital era. 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 trading fees and commissions at LMFX vary depending on the account type you choose. As a result, let’s take a look at a breakdown of the most common trading and non-trading fees and commissions.

Based on what we have seen in our records our agents have done their best to provide you with detailed information in limited form of communication such as live chat. Being in the USA I appreciate their kind and friendly service but especially their high leverage account. I’ve been a customer of LMFX for about 7 years so I know of which I speak. She says that her experience with LMFX was positive and she has been trading with the broker for more than 2 years. Lili likes the availability of many assets and dislikes the absence of digital currencies as deposit methods.

Fixed Account 🔧

It should be noted that CFDs are considered extremely risky investments due to their high leverage. In October 2019, the company launched a service aimed for small and medium-sized businesses to send payments anywhere in the world quickly and cheaply. Lmfx is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams. You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. You have to keep in mind that PayPal is not available in every country.

The broker was founded in 2008 and has its headquarters in Macedonia. Although any country’s regulatory authority does not regulate LMFX, this is not the only reason to jump right to conclusions. The broker has a good trading environment with a decent financial products portfolio and a well-known trading platform. In addition, the broker has decent trading fees when compared to its competitors. You will find they have some average educational resources along with some trading tools to assist with your market analysis. LMFX provides modern trading tools and platforms for its clients.

LMFX lists a UK phone number, e-mail, and webform as contact methods, together with live chat. The last choice presents the most convenient option to get in touch with a support representative. An FAQ section is not available, adding to the growing list of missing items. Furthermore, eToro is regulated by the US Securities and Exchange Commission. When it comes to client fund protection you are covered by the jurisdiction you are based in.

This can look to be a small number, but over the entire year, this adds to a substantial number of gains. While lmfx provide you all of the tools to earn money, they can’t guarantee that you will gain. However, due to regulations lmfx does not accept clients resident in Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America. As you know, lmfx operates with good conformation to regulations.

Web Trader

Then they have the Deposit Match Bonus, which is a 100% Credit Bonus and increases account leverage. Although LMFX is rated highly by many happy customers in personal reviews, there is no information available on the LMFX homepage about any official awards received. LMFX offers various funding methods such as wire transfers, debit/credit cards, and electronic wallets. Most transactions are processed instantly or take 15 business days. The broker follows the laws and regulations of the country they are based in.

I think this is great as it means you can access your account from any device and will always be using the most up to date version of the platform. However, one of the main disadvantages of the web platform from my perspective is that it does not support automated trading. For that, you will need the desktop version https://forexbroker-listing.com/ of the MT4 platform. The broker is currently not regulated by any government agencies but it is operated by Global Trade Partners Ltd, registered in the Republic of Macedonia. If you would prefer to trade with a regulated broker, you might want to consider AvaTrade as they are regulated in multiple jurisdictions.

Lmfx customers have instant access to the Financial markets, with the ability to completely manage a Portfolio on the go. At the time of writing this lmfx review, and despite lmfx’s impressive offering, the company has surprisingly not garnered any awards to date. We recognize that well-informed decisions with lmfx are the cornerstone of successful trading. So, settle in, grab a cup of coffee, and immerse yourself in learning about lmfx and how it can benefit you, or if lmfx might not be the right fit for you. LMFX has always been at the top of my list as the best FX broker out there. Being in the USA I appreciate their kind and friendly service but especially their high-leverage account.

If you feel that lmfx is not right for you then at the bottom of this lmfx review you will find a lot of alternatives to lmfx. A quick execution will allow users to trade without worrying about slippage safely. It is going to also help the dealers to grab any opportunities. Over the past 7 years, lmfx has become one of the best online brokers available to the public. Of course, there’s absolutely no sure-fire method to ensure profits; therefore, you should carefully assess your broker before you choose them.

Top 3 Forex Brokers

Therefore, trading CFDs carries a very high level of risk warning due to the leverage that can work both to the trader’s advantage and disadvantage. It ensures a smooth and hassle-free forex trading experience for its users, irrespective of the online trading style practiced by them. Overall, though LMFX is not a regulated broker, it commits to give the best services for traders.

• Similarly, there is also another white tab, “Open Demo Account” for users who wish to try the demo account version first before trading with real money.
• No, LMFX is not a regulated broker but a duly registered and compliant company based in North Macedonia.
• Macedonia may not strike a forex user as one of the key forex trading areas, but LMFX has utilized the country’s low tax status to open shop there.
• The LMFX broker is a suspicious choice because it is not regulated and has mixed reviews on the web.

LMFX is an online CFD broker that gives you access to trade the markets via the easy to use MetaTrader 4 platforms for all of your devices. I like how they give you a choice of flexible account types depending on your experience level and what you need for your trading strategy. The broker lmfx review has plenty of powerful and innovative trading tools to help with your market analysis and trade management. You will find there are various quick and easy funding options including digital wallets. If you are a beginner then you will be pleased with the free educational content provided.

Depending on your situation, LMFX may still have a lot to offer, despite its lack of regulation. The platform boasts over 10,000 users who find plenty of benefits. I think they could improve by adding support for some more currencies, especially when you consider that they cater to a global client base. If you want more base currencies, Blueberry Markets can be worth a look. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. Through the broker, you can trade commodities including softs; wheat, sugar, coffee, corn and metals; palladium, copper and platinum.

All oil and metal contracts are charged an Overnight SWAP and triple SWAPS are charged on the positions held on any Wednesday. All contracts on the LMFX trading platform are factored in USD, whereas the metal SWAPS are factored on the basis of pips/lot. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades. A Fixed Account is the perfect solution for traders who prefer to trade with fixed spreads.

Benefits of LMFX Partners

We’ve tried to breakdown all the features and charges for your advantage. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Risk management refers to the process of identifying, assessing, and controlling risks in order to minimize the negative impact on investment.

The platform supports automated trading through expert advisors and boasts over 50 technical indicators, 30 charting tools, and 9 timeframes. There is also the capability to develop and customize indicators, and the platform is available in more than 30 languages. It combines an intuitive interface with a data-rich environment and deep market histories, making it effective for investors of all experience levels. LMFX is a trading platform registered in the Republic of North Macedonia. The company has been running since 2017 and has taken on clients in locations throughout the world, from Europe to Canada and Australia. As an STP broker, we merely provide you with access to the market.