LMFX review - Pros, Cons and Traders Ratings.

I've been using LMFX for more than a year and I'm overall pretty happy with them. They have a wide range of currency pairs to trade, and their spreads are generally competitive. Just one thing I don't like is that they charge a pretty high commission on some pairs. This can add up, especially if you're a frequent trader. However, it's a good broker overall.

total trading period is 4 months, mostly scalps and swings, to be fair lmfx is one of 3 brokers i trade with, over all the trading conditions are good, very decent exectution time, and a noticable very favorable spreads on major usd and eur pairs, small to mid sized premium account with a total of 2 withdrawals all processed with in 24 hrs of submission of request (note: withdrawal request are faster if submitted before office hrs) in summary i think lmfx is underrated with a very good trading environemnt.

My TP set at 4443 got hit even though after the gap up at 4:30 PM (23:30 North Macedonia time) the price opened at 4452.1 (low 4451 and high 4452.7) on August 23rd. They made the execution take place even though the price never touched that price and opened at 4452.1 after the market was closed at 4:15 PM and briefely re-opened trading at 4:30 PM. I got cheated for $81. I emailed the back-office with screen shots which were totally ignored and textual message (the same as the account history) as proof of executiion was provided.
On July 10th, for 15778 and 1001822 my short trades for USA100 (NASDAQ futures) were set for TP at 15026 but the trades closed at 15045 and 15038 respectively both at exactly the same time 1.08.26. on 2023.07.10. The difference is $31 on two accounts that I got deprived of.
For 17254 TP was set at 15025 but it was closed at 15041 at 1.08.42 on 2023.07.10, I got cheated out of $15. Basically price closed at three different prices on three different accounts on the same MT4 platform on the same server. That is totally impossible. Communicating with the LMFX was not fruitful.
I can provide more examples of price set (SL) and not executing if there is a gap up or spike. But if the TP is set and the price moves suddenly (after a favorable news) or gap-up after the weekend it will always get hit (if there is positive difference between the TP and the opening price)


Dec 7, 2022 - 2 Stars GER40 gapped down to 14438-14439 at 2:00 AM ET (9.00 AM North Macedonia time) on Dec. 2 but my TP set at 14478 got executed at 14479, which seems impossible. Despite complaining the issue did not get resolved.

After a high-impact event, namely NFP, on Dec. 2 my USA500 TP set at 4040 was executed at 4040.3 but the 5M price bar clearly shows the price to be between 4012 and 4014 at 8:30 AM.

Whereas, on Nov. 10th after CPI report, my SL won't get hit at the set price of 3872 and got executed at 3796.3, and I was told that due to slippage my order got filled at a difference of 24 points causing me to lose approximately $340 instead of just $100. Complaining did not produce any satisfactory result as I was told that during a high-impact event I may trades won't be executed at my set price (TP).

In other words, if a trade would cause me to lose money, it will be made to happen but any trade that can be profitable won't happen. That's the way LMFX system is designed.

I attached two screenshots to prove my point but the response was in text from lmfx claiming that the trades were executed at those improbable prices. GER40 opened between 14438-14439 at 2:30 AM ET but my TP got executed at 14479. USA500 dropped to 4010.5 to 4008.8 at 8:30 AM on Dec. 2nd after NFP but my TP got executed at 4040.3. Here is the textual response from LMFX backoffice which gave the time of execution of the trades but no screenshots or graphic demonstration of the time of the trade and corresponding price.

22875867 USA500 Sell 1.0 2022-12-02 02:06:10 2022-12-02 15:30:16 274.0 -2.0 0.0
COMMENT: tp
T/P: 4040.0
S/L: 0.0
OPEN PRICE: 4067.7
CLOSE PRICE: 4040.3

22874715 GER40 Sell 1.0 2022-12-01 21:41:08 2022-12-02 09:00:01 14.74 -2.0 -0.5
COMMENT: tp
T/P: 14478.0
S/L: 0.0
OPEN PRICE: 14492.0
CLOSE PRICE: 14478.0

Reply by Maria LMFX submitted Dec 12, 2022 Thank you for your review!

Kindly be advised that we take matters such as trade complaints very seriously. We always take the necessary time to investigate client's inquiries and forward them to the appropriate department if needed. These procedures may take time, depending on each and every case individually, but we always strive to provide the best assistance as possible.

During the ongoing investigation, your case has been forwarded to and re-reviewed by our Liquidity providers as we wanted to make sure that it reaches a successful resolution.
We have sent you an email as soon as we have received an update from our Liquidity providers and we have informed you that the case has been resolved.

If you still have any questions, we kindly ask you to contact our Customer Support via phone, email or Live Chat and we will gladly assist you.
Thank you!

I've been trading with this broker for a few months. They have several account options come with com or zero com but average spread, I would rather take the raw spread one with $4 com per lot. Withdrawals usually get processed within 24 hours (credited to your account on next day if you make request today). Some brokers I've tried before can process withdrawals within a day with a local payment method (i.e local bank). However, this is a forex broker I can recommend for MT4 traders.

The friendly staff at LMFX assisted me in being able to reinstall the MT4 platform on my laptop, and everything works fine now. It was some kind of software error.
Great broker,.been with them for 6 years, no problems.

Mar 5, 2023 - 1 Star I have had an account with LMFX since 2017 and have never had any issues logging on to the terminal to pull up my tax information. Now all of a sudden I can't get on the server from my laptop, but my phone terminal works just fine. I'm ver upset with LMFX. This is unacceptable.