LMFX review - Pros, Cons and Traders Ratings.

Dear Quang Binh,

Thank you for your review.

We would have appreciated if you included your trading account ID or your Wallet ID so we could have found you in the system.

Do keep in mind that we take a great care and look into matters seriously, especially, when they are related to trades inquiries.
We as a Company do offer certain limitations applied on our account types, and these limitations are visible for each and every customer as they are added on our website.

And by having such limits as a Broker, in event that you have more pending orders than the ones allowed, the system simply does not let you open new ones which is not related in any way to margin values.

Please bear in mind, that on a platform level the reasons why you are not able to execute trades are many and variable, they may depend on market conditions, limitations of the Broker such as the ones mentioned above, not having enough funds to execute them and etc. Each time you are not able to place a trade you can see the error message in the platform. These messages provide with many details to help you locate the issue and resolve it. Having that information helps especially with pending orders, since as it is known, depending on the pending order type, customers should be careful while placing the levels they want.

We will be more than happy to assist further with providing more information. If you still have any questions, we kindly ask you to contact our Customer Support via phone, email or LiveChat and we will gladly assist you.

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!

Dear Michael,

Thank you for your review.

Kindly be advised that we take great care when it comes to assisting our clients.

We have looked into the matter and have reviewed all your Live chat and email communication with our Support team. 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. In fact, it is very surprising to hear that you have had a negative experience since every chat you have had with out agents has been rated as helpful, and you have also left comments suggesting that you were happy with the service provided.

We would also like to point out that some matters take longer to be reviewed and it is not entirely out of the question that our support might not have the detailed information at the time you request it. In such cases they need to consult with the appropriated department to acquire the needed information, which unfortunately can take some time. The inquiry submitted by you in your email to our Support department has been forwarded to the responsible department and once the information is gathered it would be forwarded to you.
Also note, that we have had no issues or delays in regards to withdrawal processing. Withdrawals are always processed in a timely manner in accordance with company policy.

We will be more than happy to assist further with providing more information. If you still have any questions, we kindly ask you to contact our Customer Support via phone, email or LiveChat and we will gladly assist you.

Dear Cris,

Thank you for your review!

We would have appreciated if you included your trading account ID or your Wallet ID so we could have found you in the system.

We offer a variety of withdrawal and deposit options to our clients and each and every option has its own time frame to be processed.
We can guarantee that not a single correctly requested withdrawal by our clients is denied by our Financial department, as we do take such requests very seriously.
Withdrawals are always processed as it is stated on our website and there are no delays of any sort coming from our end.

As our clients are our top priority we will be more than happy to assist further with providing more information. If you still have any questions, we kindly ask you to contact our Customer Support via phone, email or LiveChat and we will gladly assist you.

Thank you for your review!

Although you did not mention your wallet ID or live trading account ID in your review, we were able to locate the case and re-review it carefully as we do take our client's complaints seriously.

During your email communication with us, we made sure to explain in great details that our MT4 department has been able to confirm that these are the spreads supplied by our Liquidity providers and they are based on the existing market conditions at that time.
We also made sure to provide you with a file which contains the spreads for the currency pair in question at the time your trades were made with an added spread graph to help you further visualize it and additional images with the traded volume chart helping you see the liquidity demands at that time.
We have also explained that the provided prices were within the market bounds and were not distorted on our end only, so the trades were valid and are not subject to any refunds.

As we understand your frustration we made sure to explain that two of the trades in question were closed by the Stop loss you set for both, while the third was stopped out due to lack of margin. We also provided you with details regarding those trades.

We cannot intervene in the trading activity of our clients. As an STP broker, we merely provide you with access to the market.
Thus orders are executed on the "best available price" principle. The orders are taken for market execution straight to our liquidity providers.
You as a trader should be aware of the risks involved in trading. Before deciding to trade, you need to ensure you understand them.

Thank you for your review!

As an STP, No dealing desk broker, we do not make profits from the losses of our clients. We profit from the traded volumes, spread markups and commissions applied. We do not intervene in the trading activity of our clients. We merely provide you with access to the market. Thus orders are executed on the "best available price" principle. The orders are taken for market execution straight to our liquidity providers.

We relay the orders to our liquidity providers, who forward them for execution on the marker. The availability of prices is dependent on market conditions, such as liquidity and volatility. Since at that time the desired price was not available, the order was executed on the next best available price. The action of execution of the trade is not failed. The trade was closed, but at a less favorable price for you. This is known as slippage.

Slippage refers to the difference between the expected price of a trade and the price at which the trade is actually executed. Slippage often occurs during periods of higher volatility when market orders are used, and also when large orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade.

Orders cannot be executed, since there is no such price available on the market, nor we can take the opposite side of the trade since we are a No Dealing Desk broker.
As the market changes rapidly the specific price desired by you was not available as a price on the market, thus the order was filled in on the next best available price.
Given the current volatility and rapid price fluctuations in the markets, we do our best to minimize the effects of slippage and to guarantee fast execution of the trades with our liquidity provider. However, in some cases, despite our best efforts, we are not able to since there are major factors in play over which we do not have control.
You as a trader should be aware of the risks involved in trading and the major factors, which affect the market. In such cases, while trading in a highly volatile market, slippage cannot be avoided nor predicted. The risk of trading in such conditions is the responsibility of the client. During such times discrepancies are expected to happen. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience.

Also, do keep in mind that the account type is applied only on Forex pairs, which means that other products such as Indices are not offered with Fixed spreads.
We take complaints regarding trading activity with utmost care. Each one is investigated and reviewed individually. If you wish to file a formal complaint, for us to file an official investigation with our MT4 department, please send us an email with as many details as you can. Trade IDs and screenshots will also be greatly appreciated. This information may be submitted directly via email to support@lmfx.com
Please note that we also provide a VPS service free of charge that will greatly increase the execution speed and will help you minimize the effects of slippage.