LMFX review - Pros, Cons and Traders Ratings.

I have had zero issues all around for the 1-2 years I have been with them. I have traded very frequently.

Nov 12, 2020 - 5 Stars No problems whatsoever. They do what they say and say what they do. As a US resident this is the best offshore broker experience I have had. Very consistent. I received everything they commit to.

When you make the deposit everything will be perfect, but at the time of withdrawal it is torture, 2 weeks ago I made the request and it still does not seem like my money. I fear I have been scammed

DO NOT USE THIS BROKER!!! They will jump the spread from normal to hundreds in a split second... They tempt you with a high leverage 1:1000 and minimum deposit of 50 then you go into your high probability set up.. boom spread jumps 300 points... Its almost laughable that anyone would think this kind of practice is somehow ethical... Unregulated company... SCAM SCAM SCAM!

I have believed and thought that LMFX is a reliable and excellent broker until recently.
To reduce the volatility of the market, I chose the fix account type, this account type I had to pay 1 fixed spread, and the slippage every time the position was closed was 3-5 pips. But in the last few days we have suffered from another slippage, increasing gradually from 10 pips up to 25-35 pips plus slippage on closing up to 40 pips. For a scalping player like me, the odds of losing as well as hitting a one-way stoploss are easier. When you open 1 lot position you can lose up to 400$ when you are out of order, I think this is an unreliable broker, they may increase the spread to burn your account one day. You should consider carefully because in the past 6 months they have continuously increased the spread like this, one day you will be their victim. We should consider when opening an account of LMFX.
I am very disappointed about the change of the Fix account type of the exchange, or is this just a small error that the exchange has not been able to fix.

Official spread for EUR/USD is 1.5 pups. I have never gotten this, ever. They have always slipperige of few more pips (yes, my internet connection is fast)

This is an exchange that has problems with identity verification. I am a trader living in both Vietnam and Japan. When I register with my address in Vietnam. They said their company discriminated against people from Vietnam to use. Then I used the address I am living in Japan to send back the documents, the company made it difficult for me and said my documents were forged. While I was in Japan working and living. so stupid. Please be careful with this broker.

In dec of 2020 I started trading with lmfx mainly focusing on jpy and aud pairs, trading the asian market, started with a mid sized premium account I. over all I would describe trading with lmfx as simple and easy, in July I hit my ROI and made my first pure profit by the end of OCT 2021, I am a part time trader still learning, most trades done on mt4, I use different charting software, stable servers, good execution time, I dont scalp much but so far I'm satisfied with the results

I have had some account issues during the transaction, my emails are usually answered within the same day. I appreciate this issue.
Thank you LMFX support team

Nov 1, 2021 - 1 Star I started trading from mid-September to present. It's okay when I lose. When I started making profits, they said I broke the policy and banned me. They did not give me the right to speak. They like to ban is to ban. A bad broker. 2021/11/02

Reply by Maria LMFX submitted Nov 3, 2021 Dear tuyen1008,

Thank you for your review.

Please be aware that your account with us was suspended after a signal by our Liquidity provider in regards to your trading activity with our brokerage. We have since been communicating with you via email regarding this matter and have found a solution that will allow you to continue using our services.

We wish to stress that we never “ban” clients just because they make a profit. As a non-dealing desk broker, it is in our best interest to keep our customers trading with us for as long as possible. We are happy to say that have many clients who have made profits on their initial investments and are continuing to trade with us.

Your account with us was, in fact, restored before this review even went Live and we are happy to see you using our services once again. Rest assured that we take such cases very seriously and always do our best to be on the side of the customer.

Thank you very much!

A lot of the low reviews seem to stem from misunderstandings, and you really do have to read through the boring stuff to understand how the bonuses work etc. This is a pretty good forex provider, their odd deposit options seem to have improved since last I tried it months ago.

I've yet to make any profit, I've only lost money, but I never felt it was due to LMFX or shady practices (Other than markets being rigged which everyone knows), I'm just a terrible trader lol. Don't bet against the trend like I did :P

Even though LMFX does not charge any deposit fees, if you choose to use a debit card to deposit funds, there is a quite substantial fee incurred. In June 2021, I deposited $999 6 times, but the actual amount charged each time varied from $1068.32 to $1073.22, which is ~ 6.8% to 7.3%. This fee is charged by the bank associated with the card processing service of LMFX. No matter how the card processing service denied it, this fee exists for a foreign transaction (not like my own bank). This has also been confirmed by another FPA member. I tried to dispute this fee, but the back and forth emails take forever to resolve. This fee structure should be stated at the top of this review forum. If you are not aware, you will have to pay this horrendous fee.

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. I've been a customer of LMFX for about 7 years so I know of which I speak. I can guarantee you your money is safe with LMFX.

Mar 6, 2018 - 5 Stars I have been with LMFX for about 6 months and they are top notch. If I call the US 800# I get a quick response and helpful service. Withdrawals are easy to do within the connect account on-line once you know how to do (a customer service person walked me through the process). I get good fills even in times of fast moving markets. My connect account # is 32501

These scumbags have just canceled my withdrawal via bank transfer even though they have copies of my passport, drivers license and all bank information including a bank statement. They are literally forcing me to take Bitcoin or nothing.

Response from broker: 3 unsettled trades which were not shown on the current daily confirmation. Satisfactory response. No further issue.

May 24, 2021 - No Rating I have been trading with them for well over a year. No problems. Withdrawals process OK, (at least the one I have made), deposit fees are typically high depending on what method I use.

I am waiting currently on a response regarding my running balance suddenly decreasing by 1000.00. I received a confirmation email just over an hour ago showing the correct balance, and as of 30 minutes ago, I'm showing approximately 1000.00 less. I have made no withdrawals or withdrawal requests. This is highly unusual and also alarming. I will post again as the situation develops.

I'd like to add my 2 cents, based on the following
Pairs: eurusd, usdjpy, gbpusd
Technical: macd, moving averages (20,50,100) RSI, volumes etc.
Fundamentals: News etc.
Total time traded: Live 5 months (100% manual) no bonuses
Funding: Skrill, bank transfer.
Account type: Premium

LMFX is doing okay, on average they do offer a good stable trading environment for any trader, and they do payout quiet with in the given time frame, mt4 is good, trade executions are good (take note kindly be wary of sudden market movement during news releases and high volatility, its pretty much normal with any broker), with that said they are fairly doing really well as a broker, I wish for more payment options maybe, but they do have an advantage of catering to US traders. withdrawals are processed through skrill mostly usually with in 48 hrs, various amounts tried all done on time.

just to be clear what works for me might not work for others, its a rule of thumb in such industry to do your due-diligence and good luck

Regarding the reply by Maria LMFX on April 5th:
You are a liar and you are your team are a bunch of thieves. The trade usd/jpy, on standard lot that I placed on your platform was in profit by over $100. I hit the close button and instead of my balance increasing by $100, it decreased by $30. You tell me if this is market volatile. On another trade I took on
usd/jpy. I was at loss of $20, it was friday, so I decided to close the trade, instead of seeing my account balance decrease by $20,
my balance decreased by over $100. You tell me if that's market volatility. Don't come in here and try to make me look as though I have no idea what I am talking about. Because my eyes are not deceiving me. Okay? It is how you programed your mt4 platform. When a trader closes their trades, the profit would be alot lower than what they gained. If you are have no vested interest in your clients
money, why would you design your mt4 that way. I've traded with several other brokers, and in my life, I have NEVER seen it where the trade was profitable and my balance decreased after I closed the trade until I started trading with your company. If your company is willing to steal a few bucks from your clients, can you imagine if one is making tens and thousands of dollars. How much will you rigged mt4 platform
steal then?. Don't try to deceive me Maria. I know what I am talking about. That is why I closed my accounts and took my money out from your company.
I don't trust in your company. Read the testimonials on here, the main thing that you see is most of the testimonials are
that your company can't be trusted. You are bunch of deceiving crooks. I use to read this testimonials and thought that these guys
just dont know how to trade and that was why they are blaming your company. Until it happens to you. That's when you realize that what
these guys are saying does have some truth to it. That you are after your clients money. That your mt4 [latofmr is designed to steal
your clients money and you will call it market volatility. DOn't come in here and try to deceive me Maria. You are not an stp
broker. You are bucket shop just like many other brokers out here. Yes. I will say that the only one good thing about company is
that I've never had issue getting my withdrawal request. But that's not a big deal. That is what is suppose to be the norm. Guys, be careful. Due you own due diligence with these guys. When I left a feedback that I was able to make a large withdrawal, they didnt give me a hard time. Now when I'm saying that their mt4 is rigged to steal your money, now they want to make it as though I dont know what I'm talking about. Bunch of deceiving thieves.

Apr 6, 2021 - 1 Star Regarding the reply by Maria LMFX on April 5th:
It doesn't surprise you. You are a liar. I was profitable on those trades even with the swaps. I closed those trades and saw my account decrease instead of increase. This is the tactic you use to steal your clients money. Read my previous testimonials. I vouch for your company thinking you had integrity and legit. That is not the case. You are a bunch of crooks. I've traded with other brokers and if I was profitable, when I would close the trades, my account balance would increase instead of decrease. You are the only company that I've ever traded with where I closed profitable trades and saw balance decreased. Guys, don't be deceive by these company. I saw all the negativity and I thought that those guys leaving those bad testimonials were just bad traders and blaming the company. Until it happens to you. Then you come to believe what those other customers are saying. That LMFX does not have your interest at heart. Period. They are looking for ways to scheme you out of your cash. Even if you were profitable, and close your trade, you will see a loss. Why? because they want your money. Well, I will give them this. I requested the funds from my account and I got it back. That is one good thing I can say about them. You will get your money back if you request it. But overall, think twice guys before you join them. Dont be deceive by their smooth words. Look at those other negative feedbacks on here and put two and two together. Maria, tell your crew, I will NEVER EVER allow you to steal a dime from me, even if it means never trading against again because of the Dodd Frank act that the U.S. passed. I will deal with only regulated brokers. One where I live in the same city or so.

As far as the instaincoin deposit, I deposited $1,900 and this was what was the mount or close to the amount that should have been credited to my account. Not $1,650. You were looking for ways to just steal my money. Guys, the little things paints the bigger picture. Dont be deceive by these crooked company. Hold on to your money until you can find a solid broker that wont you scheme to steal your money. You work hard for your money and you deserve to keep it. Bunch of thieves.

Apr 2, 2021 - 1 Star DON'T ALLOW THESE THIEVES TO STEAL YOUR MONEY.

Today, I reached my tipping point with these crooks. In the past, I wrote on here that
I was able to make large withdrawals in the amount of $42k, $21k, 20k with these guys. It is
true. This guys will not run away with your money. However, it is what these guys have
been doing over the last few weeks that left me to believe that they are a bunch of crooks.
Why do I say this? Because whenever I would be in profit, when I would close the trade,
my balance would decrease instead of increase. Several trades I took. For example
on usd/jpy, I was in proft of $100. When I close the trade thinking my balance would
be higher, it dropped instead by $50. Same thing with another trade I
took. USD/CAD. I was at loss on the trade by $200. When I closed the trade, my balance dropped
by $230; Another trade I took. Usd/jpy; I was in profit by $10; by the time I
closed the trades, my balance was down by $100. STAY AWAY FROM THESE CROOKS. Please
do not say I didnt warn you. I have requested all my funds and requested for my trading
account to be closed. The bible says darkness and light can't walk together. these guys
are no STP broker like they say they are. Do not be deceived. If they can cheat you
on a couple of bucks, can you imagine cheatting you if you make hundreds of thousnads
dollars on trades. I understand that everyone wants to make money. But long term, you
are not going to make it with these guys. Little things always paint the bigger buncher
in the long run and I can assure you, these guys will end up screwing you at the end.
I will NEVER trade with an offshore company again. I am in the process of moving
oversea and get my resident elsewhere. ThiS FIFO law sucks big time. It let the little
guys get taken advanatge of by crooked brokers like lmfx. I saw all the negative testimonials.
I didnt believe them. But it is true guys. These guys are hunting and looking for
everyway to steal your money. Another incident that occured a few weeks ago. I had made
a deposit of instaincoin with this guys of $1900. Instead of creditingme the full
or close to the amouny, I saw my instaincoin account dropped to $1650. I contacted
instaincoin to see what was going on. They told me the issue was not with them. And
it was my broker. That was when I should have realized to stay the hell away from these
crooks. I had to nearly beg before lmfx issued me back the $250. At first they
tried to give me an excuse on how btc was very volatile which was why the decrease.
But I said, so volatile that my account was down by 10%. Anyways, please, I beg you,
hold on to your money. Forex is extremely difficult. I've been around for a while.
This crooked broker makes it even harder for you to be profitable. The 1-2
second freeze when you hit the buy or sell order. I can go on. Just stay away.
And if you have an account with them, think twice if you wish to continue with them.
I've traded with many brokers in the past. When I closed trades, ive always gotten
what I closed at. Not with lmfx. you will see you balance decrease. bunch of thieves.

Nov 19, 2020 - 4 Stars Had to write another review for this broker. This is my third large withdrawal. First
withdrawal was for 21k, 42k, and my third withdrawal was for $20k. All these withdrawals were received in my bank account in less than a week.Lmfx paid out all
withdrawals. This company is legit. I know there may be some negative feedback on here that they are a scammer. Those that are screaming out scammers are either those who accepted the bonus money but d0nt know how it worked or, those who don't know how to trade but want to blame the broker. Trading is a hard business. Read somewhere years ago that 98% of people who enter this business end up loosing money. So, instead of pointing the fingers at the broker like lmfx, it may be time to take the time to develop a winning trading strategy. Lmfx is a legit company. The reason why I'm only giving them 4 stars is because their payment system needs improvement. For those of us using credit/debit card to fund our trading account, it would be nice to be able to deposit more than $3k per day as well as not have to wait 24-36 hrs for every 6 successful deposit. Other than their payment method,
this is a solid broker.

Nov 1, 2020 - 3 Stars I posted the last 2 message. That I was able to make a withdrawal of $21k and $42k.
Yes. you will get your money back from lmfx. They are not crooks. However, I would not give them 5 stars. I would give them 3 stars at most. Why 3 stars. Their payment system is horrible. They allow you to make a total deposit of $3k per day for up to 48 hours with a total deposit of $6k if you are using a debit card. Now after a total of 6k deposit, if let say the market is not moving in your direction and you want to add additional funds to keep from hitting margin, you would have to wait 24-48 hrs from you last deposit before you can make another deposit. Now tell me who does this favor? The client or the broker? Now if you ask lmfx, they would tell you they are trying to protect you from fraudulent activity. That is a lie. Other brokers do not put a cap on how much you can deposit into your trading account. So, instead of a 5 star, I am going to go with a 3 star because their payment system ( deposit and withdrawal) method is horrible. Short term, if u are trying to make a few bucks, they are an okay broker to trade with. But if you are in this business long term like myself, you are better off finding another broker. And please lmfx, dont come
in here and tell me to deposit with cryptocurrencies. Cyrocurreinces are too volatile for some of us to deposit with.

Oct 24, 2020 - 5 Stars This broker is the real deal. Many people will let the fact that they are not regulated turn
them away from LMFX. I too use to think that way until you realize that many (not all) of these
regulated brokers really dont have your best interest at heart. I had to share my experience with
LMFX. Been trading with them now for about 3 months and thus far, I can tell you that they are not
a a market maker. The platform doesnt freeze when placing a trade. Also, their customer service support
is excellent. Last but not the least, most of you might be concerned as to whether or not you
will be able to make a withdrawal of profits. I can vouch and say yes. I've made two big withdrawals,
one in the amount of $21k and the other in the amount of $42k and both withdrawals were paid out.
Now, I would say to exercise some patience when requesting a withdrawal via wire. Remember, international
wire transfer can take a bit longer than domestic wire. But if you know how to trade and looking
for a solid broker to trade with, you need to look into this brokerage firm. Trading is not easy.
It took me many years of failure and loosing before I became good at it. Finding the right broker
who doesnt take trades against can go a long way when it comes to being a profitable trader.

Reply by Maria LMFX submitted Nov 10, 2020 Hello and thank you for your feedback!

We apologize for the inconvenience you experienced!

LMFX offers a variety of funding options provided by third-party companies, and it is understandable for them to have certain conditions and restrictions.

Our sole purpose is to deliver the very best services to our clients, so we have other funding options available that are easily accessible from your LMFXconnect account.

You can check their minimum and maximum deposit requirements in your Wallet. There are deposit methods that do not use cryptocurrency to facilitate the payment and are just as swift and secure.

Should you require any assistance, do not hesitate to contact our Customer Support team.

Thank you!

Reply by Maria LMFX submitted Apr 5, 2021 Dear anonymous,



Even though the case was explained to you on several occasions via email, let me give some details once again.

The MT4 platform works as it should and it reflects the accurate P/L of your account. Please note that the market can move in the opposite direction and this may result in certain losses but this just how the market works.

Please also note that if you keep your trades open overnight there is a swap fee which is a standard fee which any Broker would impose. You can find the swap fee in the MT4 reports. Also, you can review the daily statements that get emailed to you every day and monitor your trades closely.

As to your 2nd comment regarding your deposit, my colleague not only provided you with a detailed explanation but after several threats and swear words on your behalf, our Management decided to refund you the amount even though it was not a fee coming from us in any way. The difference in funds is simply due to how the deposit method operates. Nothing more and nothing less.

Should you have any other questions, please feel free to contact our Customer Support and we will gladly assist you! Thank you!

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".

Furthermore, we have advised you multiple times to provide us the exact trade IDs with which you had issues. We have also provided you with instructions on how you could extract the logs from your MT4 terminal.

Should you have done it, we could have investigated and check each and every trade. However, you have refused to do so.

As I can see your withdrawal request was processed successfully and you also confirmed that the money is already in your bank account which also proves that we don't have any interest in keeping your money away from you.

Please note that the market is very volatile and you can see the price changing within seconds. We are not responsible for the way the market acts and the price range.

As to the rest of the negative reviews, you can see that each of them received a detailed response as you do right now and all the cases have been investigated and proved as not plausible on our end.

This is the last answer that you will receive from us in this channel because we consider the case closed and we wouldn't appreciate turning this page into a chat that you could simply have on our website. Thank you!

I submitted my buy order and it was registered as a sell order by the system. I lost over $2000 dollars. I contacted customer service to resolve the issue with the logs from the system. They acknowledge that it was their mistake but never returned my money!
DONT WASTE YOUR MONEY! GO TO THEIR COMPETITOR!

I am based in Asia and attemped many brokers from local to international. I came accross this broker on Facebook and decided to opened up a small account. After 8 months, I made some withdrawals and this broker is reliable, no hassles with my withdrawal and deposit ofc. Quick support and swift payout processing but you won't find many advanced things here, only good spread and MT4 platform trading.

I tried the service at the recommendation of associate, and it started out good. Bait and switch with bonuses thinking they were on my side, and I noticed my trades were losing more than gains. Make $5 and lose $10 and as this continues your account is slowly drained and siphoned down to nothing. Expert Advisor-I think not.

I have used my check card (mastercard) to deposit 499.99$ and it was deducted 538.27$ that is about 7.8% (there is an other riview with the capital one for 99 his was withdrawn 107$) and there is an international fee from the bank that was around 5$. The other 38$ has been said bank fee or 3rd party processing fee which is nothing to do with the broker.
I don't know is that a cash processing fee by the bank or etc but it showed as a withdrawn by
"FULANDOK cheng du shi CNCN "
international conversion fee is from the bank which is 4.31.
So in their web site under the mastercard they should inform the customer that there will be a 7.8% hidden processing fee by the bank or the processing company than it would be fair. for the customer

I've almost done 4 months of live trading, here are some thoughts, lmfx gets the job done, pretty much a straight forward broker, very good spreads, execution is pretty quick, might be a good idea to add more withdrawal options, but for the most part, usually withdrawals are processed with in 48 hrs.

Been trading with this broker for about 2 years and totally satisfied. It's a classic broker with decent and swift services. There are not too many advanced services as MT5 or PAMM but I was looking for a broker I can stick to trading mainly. Lucky that my EA works with their trading platform MT4. CS also supports live chat but only Europe time. Withdrawal is possible with Skrill and Neteller and you will get fund in 24 hours except weekend. Reliable broker!

Scammer scammer scammer , they stole my money 4600 $ .
they suddenly removed the bonus from my account to make my margin to reach to zero then close all my open position and stole 4600 $ .
i had on my account at this time 2600 Margin with 250 % . but they removed the bonus and closed all open position and stole my money ., keep away from them

Been with LMFX for 4 years as a US client, outstanding broker. Lightning fast execution, fair spreads and usually zero commissions. They've held the line while other brokers have fallen out through the years. I've made six figures with the company and have withdrawn it all without any questions besides verifying some information about myself.

For an offshore broker they've got an amazing reputation and have come a very long way in the past few years and should honestly be a top tier broker - regulated or not.

Many of you might notice there are a few bad reviews. The biggest criticism that LMFX has is their withdrawal process. Yes, in the past I've experienced a slow withdrawal but since then I've wired huge amounts in excess of $40,000 and they've made it to my bank account within just a few business days. Don't be discouraged, they pay out timely and deposits are quick as well. Deposit methods could be optimized, but throughout time you'll notice they are constantly adding in new ways to deposit.

I trade higher time frame charts 4hr, Daily and Weekly. So the complaints others have about a slightly higher spread is irrelevant for me. LMFX has quickly responded to my issues via email and were polite about everything. The only reason I did not give them 5 Stars is because they do not have more Withdrawal Options. For me, Wire Transfer is the only option. And it cost me about $40 to withdrawal money. Not too bad. But the good news is the money hit my bank account in about 36 hours. That's fast for a wire transfer! Also I cannot Deposit money with Visa cards. Only MasterCard. If Withdrawal & Deposit options were easier and more robust, LMFX would be worth 5 Stars easily. But this is just my experience so far. Thanks guys!

I have been trading for about a year with this broker. Not an advanced broker but stable service and I am totally satisfied and the execution is good on major pairs (not tested on exotics). About spread, it is good on majors as Sterling and Fiber pairs. And LMFX also has 3 account types fixed/float/micro spreads that I recommend float or micro. For payout, Skrill/Neteller payment that are swift so you can trust this broker.

Found out this link so i stopped for a while writing some of my own trading remarks i had experienced with this broker. I opened account in 2018 yes a long time ago. I still trading the same account though i had to deposit multiple times. Same is the case with the withdraws as well. I withdraw some of the profits to pay myself first. The rest is being accumulated in my equity.

They have variety of offerings like currency pairs etc with reasonable spreads. The staff is quite helpful in addressing queries. Mostly I found out them using the chatbox while logging in. The only cons is they should add digital currencies for payments processing and trading purpose. Rest I does not have any issues with them.

I have been with LMFX for at least the past two years. I'll try and break down my entire experience so far by categories. Hopefully this helps. 1) Safety: I've never had an issue with withdrawals. I have been lucky/blessed enough to be able to withdraw on several occasions with them, well in the 5 figures over my time with them. I have, however, never withdrawn more than $3k at once. LMFX is unregulated and the sole concern that I would have is that being unregulated, they have no regulation whatsoever to respect my withdrawals requests. So far however, it has been spotless. Nothing shady has ever happened to my withdrawals (or deposits). I am hesitant to Withdraw larger amounts due to the fact that they are unregulated. If I ever do, I will post an update. 2) Customer Service: Spotless. Absolutely spotless. I have on multiple occasions contacted them for anything from general information about one of their products, procedures, etc. I have loved it. The chat is what I use myself and it's sharp. 3) Registration Process: Easy. ID and Bank Statement. Simple stuff. Generally done within a day or two. 4): Slippage: No brokers perfect. They have Slippage. In over 2 years of being with them, I suffered slippage 3 times I believe. It does hurt every single time and it sucks. Brokers should prevent slippage at all costs but it is what it is. For that, I cannot give them a full 5 stars review. They are not perfect. 5): Accounts: I use Premium myself with 1:1000 leverage. Spreads vary from 1.5 Pips (EURUSD) to 5-8 Pips on GBPNZD and such pairs. There is no commission on trades, they do charge wider spreads so of course, brokers always win. I've never felt that they traded against me. I've never felt like they were illegitimate. I do recommend them. I have been with them for over 2 years coming from a different broker (which was a horrendous experience) and I'm not looking back. I don't particularly recommend using their welcome bonuses as the added capital won't be yours until your trade an absurd amount of lots. If your margin drops below YOUR own capital, their bonus will vanish and you will end back to zero. LMFX is not a bad broker at all.

I reached out to the company because i had a 200 pip stop loss that got totally ignored now the entire account balance is blown and there telling me I have to wait 21 days for a response for something that’s not even my fault. They should issue a refund for the balance of what would be there after it hit the stop loss I feel like I just got finessed out of my money and honestly it’s unfair

Every time I chat in or email I get horrible customer service. The agents are very unhelpful and unwilling to give you a straight answer. Leo Jefferson in particular is THE WORST. I chat in with an issue, he then lets me know to email support which I do only to have Leo, the same agent I was chatting with, email me back and tell me that he can’t help me because it’s been over 24hrs. Why not be more helpful in the chat before quickly brushing my problem off and hoping I don’t email in so he won’t have to help me. Has he even taken the slightest concern in my issue he wouldn’t have been so eager to have me email support when he could have helped in the chat. I dread having to reach out to lmfx because this hasn’t been my first bad experience with their customer service.

I funded my account using a capital one credit card for $99.99 but lmfx charged me $107.98. I contacted them and they said that my credit card company added an $8 fee, but when I called capital one they said that they do not charge fees for international transactions.

LMFX are liars, yes they come here and try to act professionally by responding to customers, but trust me, this is a scam website. And please note that many of the positive reviews are fake.

They are filling me way above or below the market price to where its immediately at a $12-$15 loss.

Apr 9, 2020 - 4 Stars You get charged $70 in withdrawal fees. $55 from there bank and $15 from yours. This is a concern for smaller accounts which most people probably have. For example I withdrew $350 and received $280. But the pro in this is that this is fixed regardless of the amount. I just wish there was a Bitcoin wallet withdrawal addition. Where fees are much cheaper for smaller accounts. Also there's a premium on spreads and your commissions are higher. You have to be correct right out the gate to overcome these fees. There customer service is great, deposits are fast and withdrawals take only 2 days. So that $70 fee is the main concern and I recommend they add a Bitcoin withdrawal method.

I have submitted a withdrawal a week or so ago via bank wire, and im glad to say that I have received it in my bank account, I was looking into faster methods and skrill seems to be popular which i have to talk to support just to make sure that everything is in check ( or maybe im just that kind of a trader). anyway, lmfx has one of the better spreads ive seen in a while, they offer a good number of currencies to trade. though the totality of my live trading is a mere two months but just to be fair im liking what im experiencing with them. Ill try to come and update this review after another withdrawal. but for now. they have done a good job.

Jacob Mendoza

I deposited money then was told I can’t have an active live account for some reason. I asked for a refund and they said I won’t get the refund for weeks. Yet to see it. They take your money and won’t refund you yet can withdraw and wire transfer money within days if you had a live account. Horrible customer service.

I am very disappointed with the Broker LMFX as it comes to the point withdrawal. As investing from a European country the funding is already very limited and reduced only to two providers Instacoins and Fasapay. As Instacoins seemed for me the quicker way, I have chosen that. I was informed that withdrawal is only possible with wire transfer. After doing that I providing all necessary data´s from my renowned housebank in Vienna for the withdrawal through wire transfer. I got the informations that is was denied from my bank. I called my bank, from there I got the information that no broker bank had contacted them for a wire transfer to my account. I provided them again with the details of my home bank for wire transfer. Within a short time period I was informed that this bank is not possible and I should provide them with details of another bank. I said I don´t have any other bank details. Then I asked for another possibility for withdrawing in favour to Fasapay. First it was confirmed, then another customer support said it is not possible, only wire transfer. I said to the customer support, that I have provided all of my detailed bank data for the wire transfer. But if that does not work out then I pleased them to give a name of a bank where it works without any complications. To that they never give any informations and are also not willing to.. This would be my business. The broker is not acting customerfriendly when it comes to withdrawal, they try every excuse to delay the withdrawal and they also do not provide the customer with informations to solve the problem quickly. I cannot recommend this broker especially because of withdrawal problems. It does not make sense for me to cooperate with a broker who doesn´t help the customers especially when it comes to withdrawal. Can anybody give me an advice which bank I can use for withdrawal purposes. Thanks for your help. It is no problem for me to provide the chatting and communication history which I have done with the broker.

LMFX is alright for me. Their main communication is via email and they do respond to my email. For anyone trading- DO NOT ACCEPT BONUS feature from ANY BROKER not just Lmfx. The bonus feature is literally a scam and I notice almost all these brokers offer it. DO NOT TAKE THEIR BONUS MONEY- pick an account that does NOT offer bonus. IF you do , you are in for an headache and feeling like you have been scammed. I had experience this bonus feature with another broker and it was horrible. They explained it to me as if what they were saying made sense, complete rip-off and when I was looking at other brokers including LMFX and now reading the fine prints- it was the same thing. If you have read a few other reviews, their main issues were the bonus feature.
Lmfx- for depositing and withdrawal verification documents are needed. My only problem with LMFX is their deposit feature. I have to go thru a third party or wire transfer-seriously annoying!!!!!!!
CONCLUSION:
So they are an ok broker to trade with and I have been trading with them for at least a 2 yrs now. And remember never take the bonus feature. NEVER!

I’ve tried quite a few different brokers in the passed and this is by far the worse I’ve used so far. There is no customer support and they will not reach out to you either.

I have been trading live for more than six months now. The initial capital was blown away coz I wasn't aware of the news release right ahead of me. So i did deposited another amount after two months of losing my account balance. Since then i also learned while watching youtube videos that the best trading days are not monday and friday. That's why i trade between these two days and try collecting small pips and i had noticed that this broker is very helpful for small account holders like me. The execution is Okay and other required tools are also Okay.

At you own risk. I will leave it at that. I traded earned profits they swiped them from my account and zeroed my account while it was open. Stay away!!!!!!!!

I just wanted to come here and say I’m so happy about lmfx. I originally chose because I saw pretty good reviews here at forex peace army. My leverage is 1:1000 and I sent a withdrawal request for 500. It costed me $55 but I received the transfer in one day! That was awesome!

The broker is legit, gets the job done and most importantly lets US traders trade forex. I do have to note that the fastest method to withdraw on my end was Skrill if you don't mind the fees that comes with third party money transfers, another option is netteller, bank wire does take some time as stated it does take up to 3 weeks or so. Overall LMFX is pretty straight forward good spreads and a stable connection, they are strict with verification doc, be sure to sort it out first before depositing. Total live trading is close to 90 days with three withdrawals made. experience based on a premium account with a starting balance of $1000. Will do an update in the future if anything comes up.

Deposit/Withdrawal
It is easy to deposit a very small amount of money but understand that in order to get your profits out it will cost you $30 to $100 possibly more. This isn't LMFX, it is international wire transfers and your banks fees. I have read another review that tested this and the cost was over $60. Personally my first withdrawal cost me a little over $40. The process was not without some difficulty but I feel it is expected. When you open a bank account you have to provide ID and address and prove who you are. This is more difficult being separated by an ocean.

LMFX was quick to respond and request information. My bank did not provide documentation the way they request it but I was able to get the full list of required data and my bank created a document with all pertinent information. The process from request of withdrawal to having the money in my account was around 60 hours. I personally think this is very quick.

Support
I would like to be able to speak to a back office employee instead of being told by their support number that I can not and can only communicate via email. This causes concern for me as not many brokers limit your contact or if they do they don't make it obvious and provide you with a dedicated account manager.

Brokerage
I must admit that I am concerned with the lack of a regulating body but it is also why I chose to trade with them. Also not sure about the security of the account but how sure was everyone of their Lehman Brothers account? I can say that LMFX has not given me reason for concern about their stability and the segregated funds model helps.

Cost and Pairs
The cost is slightly high. They offer a lot more pairs and options than I trade and it is nice to have the options in the future. Crypto isn't my wheel house so I don't mind the lack of them.

Conclusion
Good broker that works with its clients and offers a service to US traders that is very difficult to find. Do not try and use them to move money out that is less than $100 usd as it will likely be very little returned to you if any after international fees.

lmfx is a pretty decent broker over all, they do offer a good set of account types, but I stick to trading premium. Just to be clear they are not the only broker i trade but here is my experience trading with them for 7 month live or so. Good responsive platform nothing out of the ordenary but to be expected. What i enjoy the most is the spreada. its pretty good and most would agree, eurusd on an average is at 1.3-1.4 which fits mu scalping. Withdrawals are good on my end, bank wire took aprox 3 weeks or so, well they did state 12 working days. another option is through a third party which in my case i ise skrill and it takes roughly 48hrs or sooner, most of the time processed the next day. The down side are skrill fees and a 4% exchange rate to local currency but its faster. Lmfx does offer a good trading experience for those who are in it just to trade forex straight up. Other brokers might offer options from account types to promos but lmfc still gets the job done anyhow. no complaints on my end really but will be looking forward to more growth hopefully in the future

I do feel like this broker is the worst at withdrawal even after providing my account information I wasnt able to get my withdrawal. I got fed up to the point I told to just close my account with whatever I have earned. I am highly disappointed with this broker but I won't tell you not to use them that's your choice. So easy to deposit but so damn hard to withdraw. Smh

I had pending stop orders for 2 trades that I held over the weekend, when the market opened, it opened with a huge gap, and I thought my trades would be in profits / hit profits, but nope. These trades triggered right where the market opened, rather where I intended for them to trigger them, 30-40 pips above, (sell stop order) and then my entire account was wiped.

I was aware I was using the bonus offering, and I was getting close to losing my original equity, BUT, these trades were intended to save my account, hence I used a larger lot size on them.

Anyways, the markets open in a gap, and I assume I'm in profits, but the trade manually closes, with my entry point NOT where I had it for the stop order, and LMFX took and wiped my account. Another one, just didn't even trigger, it manually closed yet the market opened with it in when it should've been in profits, and it shouldve triggered, and I shouldve been floating in profits, but nope. order was invalidated and i missed a great opportunity.

The same trades I had for stop orders on other trades, which went into profits an hour or so later, never triggered because my account was wiped.

I am furious and demand an explanation and the funds and the profits i have earned to be deposited into my account.

Until then, I will not change my review. They are a good broker, but at the same time, I feel like i can't trust them anymore as my orders were maniuplated and my account wiped.

Maybe I missed this in the term agreement but lmfx need to make it clear to your members who are just starting that the bonus money you give them is not really theirs and that’s it’s just an illusion to make you think you have more money then what you really have. So what happen to me is that I put 300 in my account and I get a notice saying that lmfx has giving me an extra bonus to my account.. I was super excited about this because this is the first time I’m trading live and I did a lot of demo so I thought I was ready,.. well I notice in my trading account now says it has 600 I’m like wow this is awesome.. this broker is not as bad as everyone say they are but I was wrong. So as I began to trade I jump in this really good setup thinking of course I can handle the market pulling back because of how much money was on my account well soon as I was negative 259 I believe that’s the right amount might have been more but whatever but as soon as it went negative like it was going to go all the way back lmfx took there bonus away and my account zeroed out. I’m looking like what the hell is going on but then I notice on my account that it says lmfx had removed the bonus away from me which zeroed my balance out and the sad part is I went on my demo account got in the same trade and made money on it.. so I’m like maybe there was a mistake so I put 100 on the account and lmfx gave me a 100 and boom soon as the account went negative lmfx took there bonus back again and zeroed out my balance now I’m like s** you and on to a new broker.. lmfx sucks

I have been trading FX since 2008 with many US and offshore brokers. I’m only making a one time quick post here, because I recently chose LMFX based on babypips. When I made my first withdraw request, I got big time run around and other stalling nonsense. I have had close contacts with agents in alpha bet soup agencies, and only when I mentioned this to LMFX did their attitude instantly change and all of a sudden the same bank documents already emailed for withdraw wire became “clear”, when they were mysteriously unclear just minutes before. I wanted to really believe they were honest offshore broker, but they dont seem trustworthy based on my experience. You were warned, please pass this on.

This broker is easy to use until you want to get your money back. They make you go through an extensive process to get your funds back. The process makes you feel like they are prolonging a scam.

i just found out the process these guys follow are what what all the brokers follow i did get my payment via skrill from them so i take back my old reviews.

Jun 28, 2019 - 1 Star im wrinthing this as a second review i requested a 50 dollars skrill withdraw and my skrill account isnt the same one as 2018 due to skrill locking it. so i told tell and let them know i have no longer access to that email and they asked for screenshots of my skrill account with my name on it.so thats what i did i took a screenshot and these guys told me this its not clear which was clearly clear to me when i took it and i have the files to proof it i send them many times and they still denied it how do i get my money back? can i sue them? please help my screenshots are what they asked me for and are clear and they are still denying and making excesue

Jun 27, 2019 - 1 Star so i made my first deposit via debit which was 50 dollars and i lost that money all of it second deposit was from skrill for 50 dollars which i also lost it and 3rd deposit was from vload for 50 dollars which i made it to 84 dollars so i tried to withdraw this money via wire tranfer and they told me it would cost around 35 dollars fee to get my money so i said ok what other way of withdraw i have they said i can deposit via skrill with no fees so i contatced skrill and got my account back and went to withdraw and guess what they told me i can only withdraw 50 usd because i deposit via skrill (deposited via skrill 2018- deposited via vload 2019) on 2018,at this point i lost it how they say that when last time i deposited was via vload and then they told me that if i deposit 50 dollars i have to withdraw atleast 50 dollars via that methhod. i deposited via vload and they say no we have no optin to withdraw via vload so they say i can withdraw 50 dollars and the rest of 34 i cant and have to do it via wire tranfer with 35 dollars charge fee. i feel like what ever methhod i was gonna use they were gonna do that .also i have deposited via both vload and debit card so my deposit from skrill shoudnt count since i lost that and won when i deposited via vload. can anyone advice on what i can do to get my money back?

Reply by Maria LMFX submitted Jul 2, 2019 Dear Alireza Khosravi,



Firstly, allow me to offer sympathies for the experience and troubles you have had. But I assure you they are not ground. Please allow me to elaborate.



We rejected you initial withdrawal attempts, that is correct. The reason was the fact that you violated our Anti-Money Laundering policies by attempting to withdraw funds to a Skrill Account other than the account you used to deposit funds with.



During our investigation into your case, you provided us with a screenshot by Skrill, showing at least three other accounts under your name which were deactivated. You also claimed the Skrill you used to deposit funds with is also inactive.



Being the understanding people that we are, we immediately initiated a verification procedure for a new Skrill account that you can withdraw funds to. At which point we requested screenshots to verify that, firstly, the account you will use is active and under your name. Given what is stated above, I am sure you, and the FPA community, would understand the necessity of this verification.



Some of your screenshots were, in fact, unclear. Need I remind you that these documents are considered Official Withdrawal Documents. Documents used for withdrawals and account verification are to be in pristine condition as per our and international Anti-Money Laundering and account verification policies. All the information on every single document requested must be clearly visible.



By this time you were frustrated, and we sympathize with that, but we did have agents assisting you at all times, and in the end, when you kept your emotions and frustrations at bay, your screenshots were approved and your withdrawal – successfully processed.



We would like to also remind you that your behavior was less than civil – you refused to comply with procedures and used foul language. We have screenshots of our own and of every single document you sent our way and are absolutely ready yo provide them here in front of the FPA community.



We respectfully ask that you correct your review so that it reflects the truth. We never withheld funds from you. We always tried to assist you as best as possible. The fact of the matter is you were treated with respect, every single process was transparent and you have received your funds, just like every Customer we ever had.

2 stars: Performance is significantly below expectations. Major problems encountered.

I am giving two stars because I have encountered what I consider a major problem.

The visa/debit "Third Party Processor" is under maintenance for the 3rd day in a row. They have other options for deposit/withdraw but I do not like using these other third party services because they charge fee's. Furthermore, I do not want to give out my private info to another third party company.

I signed up with LMFX because they had the FREE visa/debit "deposit only" option. This works for me because I do not mind using bank wire for withdraws. I only make them a few times a year but I need to be able to make deposits on the fly (with no fees) in case of drawdown purposes.

The fact that their visa/debit processor is down for 3 days is unsettling to me. This simply does not happen with my other brokers.

When I ask them what is wrong, they tell me it is down for maintenance purposes and will be back up asap but in the meantime you can sign up your bank information over here to this other/another "third Party Processing" company and we will gladly process your money... for a nominal fee ;)

I have never had a deposit/withdraw issue with my other two brokers for 11 years now. I will change my review to 1 star if this problem is not corrected soon.

They have CC deposits again! Love the bonus and the leverage levels.

I also appreciate the addresses by the broker for issues that other traders have experienced.