LMFX Review

3.368 · 126 REVIEWS
Updated: Nov 19, 2020 · LMFX.com  · Is this your company?

LMFX is a forex broker. LMFX offers MT4 and Mobile top forex trading platform. LMFX.com offers over 45 currency pairs, indices, commodities, cfds, metals, share and oil for your personal investment and trading options.

LMFX

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $50
Established: 2015
Address: 28 Koco Racin Blvd., 1000, Skopje, North Macedonia
Contact: support@lmfx.com, +44 2035192105
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (45+)
Cryptocurrencies:
CFD: (55+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill, VLoad
Withdrawal Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill

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LMFX.com profile provided by Maria LMFX, Nov 27, 2015


LMFX is an innovative online foreign exchange broker that offers advanced institutional and retail trading conditions to a global audience. We believe in the importance of building strong, secure foundations and the cornerstone of our mission is to provide the full spectrum of cutting-edge trading tools and services that our clients require to succeed in the world’s most liquid market.



Our goal is to deliver an unparalleled trading experience that offers the most competitive trading conditions available to each and every client, allowing them to trade Forex and CFDs on Commodities, Indices and Shares.



At LMFX, we know that our clients need to stay close to the markets and we provide a comprehensive range of mobile and desktop MT4 platforms to ensure that they never miss a market movement. In addition to an advanced trading environment, 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 delivers what traders in today’s financial markets need the most! From fast execution and deep liquidity to automated withdrawals of trading profits and ensuring funds are deposited securely in segregated accounts, we are on call 24 hours a day, 5 days a week to help our clients with their trading needs.


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3.368 · 126 REVIEWS
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Traders Reviews

anonymous,
Austin, TX, USA,
Nov 19, 2020,
Guest

Payment system needs improvement but overall these people have integrity

Service use: Live

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!
 
Louisville, Kentucky, USA,
Nov 12, 2020,
Registered user

New client for LMFX

Service use: Live

Length of use: 0-3 Months

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.

For all of the complainers you need to adjust your expectations. This broker does not deserve any less than four stars for any of the very minor issues I have seen posted. Stop whining and start trading.
 
tampa, USA,
Oct 28, 2020,
Registered user

Hidden Fees with depositing with mastercard.

Service use: Live

Length of use: 0-3 Months

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
 
Reply by Maria LMFX submitted Oct 30, 2020:
Dear omerayyer,
Thank you for your review!
As mentioned previously, we as a brokerage do not have fees on deposits. Any fees applied come from third party payment processing companies/banks.
The transaction is international, thus the banks and payment processors may charge you a small amount, as it is expected in most cases from such transaction.
We cannot be held responsible for such fees, as we are not the ones who impose them, thus we can't post any official information on our website.
As this is not a domestic acquirer, issuing banks charge a fee for any international transactions and currency conversion (if any). The charges vary from card issuer to card issuer and the real-time FX rate, around 1%-7%.
Should you have any further questions, we kindly ask you to contact our Customer Support!
Thank you!
Annie Dela,
San Pedro, Philippines,
Oct 2, 2020,
Guest

get the job done

Service use: Live

Length of use: 3-6 Months

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.
 
Chris Vo,
HCM, Viet Nam,
Sep 7, 2020,
Guest

Satisfied services and decent payout

Service use: Live

Length of use: over 1 Year

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!
 
arizona, USA,
Aug 28, 2020,
Registered user

Scammer , scammer

Service use: Live

Length of use: 0-3 Months

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
 
Reply by Maria LMFX submitted Aug 31, 2020:
Dear Loay Atef,
Thank you for your review! We investigated your case once again, and we can assure you that the Deposit Match Bonus works as it should so we cannot accept your statement as plausible.
You have been informed by two of our agents - on live chat and via email - about the Deposit Match Bonus and its Terms and Conditions.
We always advise our clients to read the ToS carefully before choosing any bonus and agreeing upon it.
The document clearly states the following:
The funds attached to the trading account as Deposit Match Bonus are available to increase the trading funds available and help in leveraging the account. They may not be lost.
This means that if your account is being stopped out, the bonus is being removed.
And also:
If the Client's account goes below the Deposit Match bonus amount, then the bonus is removed automatically by the system. In other words, if the Cash Equity (Equity - Credit Bonus) becomes zero or less, all previously awarded Credit Bonuses will be canceled and withdrawn from the respective Client's account. In this case, the Company is not responsible for any consequences of the bonus cancellation, including, but not limited to, order(s) closure by Stop Out.
You made two deposits of 1000 USD, so 2000 USD in total. Hence, you received the same amount matching in your account as per the Deposit Match Bonus.
Unfortunately, you experienced some losses + swap fees, and your account was stopped out.
Following the Deposit Match Bonus ToS, the bonus was automatically removed shortly after that.
Should you have any more questions, please contact us via phone, email, or Livechat.
Thank you!
New York, USA,
Aug 14, 2020,
Registered user

Outstanding Broker Doing The Right Thing By The Client

Service use: Live

Length of use: over 1 Year

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.
  4 traders have found this review helpful
Texas, USA,
Jul 22, 2020,
Registered user

Decent Broker. More Withdrawal Options Would Be Great

Service use: Live

Length of use: 6-12 Months

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!
  3 traders have found this review helpful
Dai Thanh,
Ho Chi Minh, Viet Nam,
Jun 25, 2020,
Guest

Good broker

Service use: Live

Length of use: 6-12 Months

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.
  2 traders have found this review helpful
Dina, Pakistan,
May 29, 2020,
Registered user

Long trading experience

Service use: Live

Length of use: over 1 Year

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.
 
Richard,
Canada, Canada,
May 26, 2020,
Guest

Good broker overall - Not perfect

Service use: Live

Length of use: over 1 Year

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.
  1 trader has found this review helpful
Michigan, USA,
May 19, 2020,
Registered user

Ran right through my stop losses

Service use: Live

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
 
Reply by Maria LMFX submitted May 21, 2020:
Dear Jkash,

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 faster.
Your complaint regarding the said trades was reviewed thoroughly, and you have received multiple replies about the matter on the very same day. The cause for your experienced losses was explained to you in great detail by different agents of the company in different ways.
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!
Val,
Utah, USA,
Apr 25, 2020,
Guest

Horrible customer service

Service use: Live

Length of use: 0-3 Months

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.
 
Reply by Maria LMFX submitted Apr 27, 2020:
Dear Val,
Thank you for your review!
Please note that we pride ourselves with extraordinary Customer Service and each case is reviewed with great attention.
Your case is no different and when you contacted our agent regarding a trade complaint he kindly asked you to send detailed information to support@lmfx.com as per Company Policy. We require this step in order to investigate the case and forward it to the proper department if necessary.
We received your email about 30 hours later and you demanded an explanation about your trade.
After a short investigation on our end, you received an update and a detailed explanation about your trade which you can find in your mailbox.
I checked and I see that you only contacted our Customer Support twice and both times you received a detailed answer in a timely manner.
Should you have any questions, feel free to contact us and we will gladly assist you!
Fort Lauderdale, Florida, USA,
Apr 20, 2020,
Registered user

Service use: Live

Length of use: 0-3 Months

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.
 
Reply by Maria LMFX submitted Apr 22, 2020:
Dear Kai999,
Thank you for your review!
We always act professional, not only here, but also when helping our customers. As an extension to that I kindly ask you to provide us with any kind of identification - Live account ID, Wallet ID or at least your name. It would be much easier for us to consider your case plausible and investigate it if necessary having that information.
Please note that we as a brokerage do not have fees on deposits. Any fees applied come from third party payment processing companies/banks.
The transaction is international, thus the banks and payment processors may charge you a small amount, as it is expected in most cases from such transaction.
We cannot be held responsible for such fees, as we are not the ones who impose said fees.
I would like to emphasize that your review went through the same screening for fakes as any other review posted here. Most clients have a different experience than yours and they are well aware that any payment service has a fee that has to be paid.
Thank you!
Nyc, USA,
Apr 19, 2020,
Registered user

Getting crushed on spreads now that I started profiting.

Service use: Live

Length of use: 3-6 Months

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.
 
Reply by Maria LMFX submitted Apr 21, 2020:
Dear Jjsupreme23,
Please bear in mind that depending on the market execution the Buy and Sell orders are opened at different prices. Buy orders are opened at the Ask Price and closed on the Bid Price, while the Sell orders are are opened on the Bid price and closed on the Ask price, where the spread has to be taken into account.
This is the reason why every trade starts at a loss at the moment of opening. Simply due to the fact that the spread is taken into consideration.
As you have grew your account, we would assume you started trading with larger volumes and lot sizes. This increases the absolute pip value represented in USD. Thus, a trade with a larger lot size will start at a higher loss.
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 and commissions applied. We do not intervene with the trading activity of our clients. We merely provide you with access to the market. Thus order are executed on the "best available price" principle. The orders are taken for market execution straight to our liquidity providers.
We take complaints regarding trading activity with utmost care. Each one is investigated and reviewed individually.
If you wish to file a formal complaint, in order for us to file an official investigation with our MT4 department, please send us an email with as much 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
Thank you!
Jacob Mendoza,
Cebu, Philippines,
Apr 9, 2020,
Guest

My first withrawal

Service use: Live

Length of use: 0-3 Months

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
 
Robert,
Atl, USA,
Apr 7, 2020,
Guest

Will not refund your money

Service use: Live

Length of use: 6-12 Months

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.
 
Reply by Maria LMFX submitted Apr 9, 2020:
Dear Robert,
Thank you for your review!
However, you haven't provided us with any kind of identification such as Wallet ID, trading account ID or at least your full name.
Please note that every withdrawal is processed in a timely manner and it takes a while for the money to reach your account.
The Customer support team is available at all times while the brokerage operates 24/5. You can reach us via email, Live chat or phone.
As you open up the web-page, you will notice the Live chat window in the lower right. Feel free to contact us regarding any issue and we will be glad to assist you.
It would be appreciated if you could provide us with further details as to why you are not satisfied from your experience with us.
Thank you!
Vienna, Austria,
Apr 6, 2020,
Registered user

Withdrawal problems with LMFX

Service use: Live

Length of use: 0-3 Months

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.
 
Reply by Maria LMFX submitted Apr 9, 2020:
Dear GPMathaeus,

Thank you for your review! We apologize for the inconvenience you experienced.
We have contacted our bank for detailed explanation about your case and we will notify as soon as we have any update.
I can assure you that we are ready to cooperate and help you resolve this situation.
Rest assured that you will receive your funds and we don't have any intention to delay your withdrawal or not process it at all.
Our Customer Support tried to reach you earlier today to discuss the details further but we were unable to reach you.
We stay at your disposal should you need any further information!
Thank you!
Shauna,
Tennesee, USA,
Mar 15, 2020,
Guest

Fairly good Broker

Service use: Live

Length of use: over 1 Year

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!
 
USA, USA,
Mar 8, 2020,
Registered user

Lack of support

Service use: Live

Length of use: 0-3 Months

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.
  1 trader has found this review helpful
Reply by Maria LMFX submitted Mar 13, 2020:
It's probably not necessary for me to say that we cannot investigate your case and therefore we cannot accept it as plausible because you haven't provided us with any kind of identification such as Wallet ID, trading account ID or at least your name.
The Customer support team is available at all times while the brokerage operates 24/5. You can reach us via email, Live chat or phone.
As you open up the web-page, you will notice the Live chat window in the lower right. Feel free to contact us regarding any issue and we will be glad to assist you.
It would be appreciated if you could provide us with further details as to why you are not satisfied from your experience with us.
We are looking forward to hear from you.
Aftab,
Rawalpindi, Pakistan,
Jan 15, 2020,
Guest

I have been trading live for more than six months now

Service use: Live

Length of use: 6-12 Months

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.
  1 trader has found this review helpful
Finally Harris,
USA, USA,
Jan 4, 2020,
Guest

Stay away

Service use: Live

Length of use: 0-3 Months

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!!!!!!!!
 
Reply by Maria LMFX submitted Jan 6, 2020:
Thank you for your review!
It's probably not necessary for me to say that we cannot investigate your case and therefore we cannot accept it as plausible because you haven't provided us with any kind of identification such as Wallet ID, trading account ID or at least your name.
We would be happy to check the profits that you claim have been wiped of your account once we have the information mentioned above. Each and every complaint regarding trading is reviewed individually. It must be submitted in writing. In the event that the complaint is regarding a particular trade, the complaint must be submitted no later than 24 hours after the reason for the complaint has materialized.
Thank you!
Georgia, USA,
Dec 24, 2019,
Registered user

Everything is perfect

Service use: Live

Length of use: 0-3 Months

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!
  1 trader has found this review helpful
Ian,
New Jersey, USA,
Oct 2, 2019,
Guest

Decent broker for US trader

Service use: Live

Length of use: 3-6 Months

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.
  3 traders have found this review helpful
USA, USA,
Sep 20, 2019,
Registered user

Easy minimum deposit for US traders, standard international $ for withdraw

Service use: Live

Length of use: over 1 Year

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.
  1 trader has found this review helpful

Frequently Asked Questions

Is LMFX regulated and a good broker?

LMFX is not regulated by any regulator.

In another word, there is no designated government or non-government body to supervise the activities of LMFX or to resolve complaints.

To understand if LMFX is a good broker, the best way is to read the unbiased traders reviews on ForexPeaceArmy. https://www.forexpeacearmy.com/forex-reviews/12111/lmfx-forex-brokers.

Additionally, we'd recommend to check recent LMFX community discussions: https://www.forexpeacearmy.com/community/tags/lmfx.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Is LMFX an ECN broker?

LMFX's Zero account is considered as an ECN type of account.

The LMFX's Zero account has below certain features.

  • Minimum deposit of 100 USD
  • Leverage up to 1:250
  • Spreads starting from 0.2 pips EURUSD
  • Commission 8 USD per lot traded

Where is LMFX located?

LMFX is located at 28 Koco Racin Blvd., 1000, Skopje, North Macedonia.

LMFX is registered in the Republic of North Macedonia in the name of Global Trade Partners Ltd.