LMFX Review

3.342 · 127 REVIEWS
Updated: Dec 24, 2020 · LMFX.com  · Is this your company?

LMFX is a forex broker based in Macedonia. Unlike US or EU based brokers, this allows LMFX to offer significantly higher leverage, all the way up to 1000:1.

For platforms, LMFX has multiple variations of MetaTrader 4 available, including the classic MT4 desktop, MT4 mobile for Android and iPhone, MT4 for iPad, and MT4 WebTrader. ECN accounts are available. EAs, news spike trading, and scalping are all supported.

LMFX support offers multilingual live chat 24 hours per day, 5 days per week. Support is also available by phone, email, and a contact form.

Although it is unregulated, LMFX has been in operation providing services for forex traders since 2015.

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

Live discussion

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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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3.342 · 127 REVIEWS
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Traders Reviews

Rochester, USA,
Mar 3, 2018,
Registered user

Lack of assistance and No IRS information provided.

Ive been asked by LMFX to remove my initial post because they found it offencive...OOPS :(

I was a trader many years ago when the business and real estate markets corrected and I got out of trading, I have Never had a problem getting account information from any company I traded with or had a problem adding money to the account or withdraws in a timely manor

In the end with LMFX I lost about 145k and no one has explained to me WHY. For the most part I think it was my broker that made the error but I don't have a way to make that decision because LMFX does not work well with clients and will not provide account Information, even to its registered clients

I have sent many Emails to their support office, in a reply format so that the person reading the Email can read the entire chain of events. They use a pool of people to answer questions that come in through the Customer support lines.

From these Emails I have learned that my account was closed a long time ago....My account COULD BE currently trading and IF it was being traded this is why we had a loss.... My broker says I now have about 12.5k....But who knows, LMFX don't work with investors, just brokers

LMFX does not have account managers they use a "Support Team" I think I have written to most all of them...Some are far better than others :( None of them have given me a good answer, even IF I didn't or would't like the answer they provided

Using American broker a client can call, they can identify you from your personal information and give you the account number if you don't have it, the balance and trading history....AND IRS tax information... Which I'm still waiting on.

Bottom line is, you can make a huge amount of money with investing...sometimes the highest risk is with the broker you choose, so choose wisely my friends

Jan 19, 2018 - No Rating I have a account manager that is using LMFX and we took a 115k loss on a trade and no one will explain what happened.

It would appear that all of the stop losses were in place and he did complete the transaction properly. Was this a software issue with LMFX? Was it a LMFX administrative error ? Does his Account manager even work for LMFX after all he states that the Email for his account manager at LMFX is no longer valid

I have sent Emails to the LMFX back office requesting information on my account and no one has given me an answer..... Is there anyone I can contact by Email or phone
 
Reply by Maria LMFX submitted Mar 6, 2018:
Dear Steveisrebel,

We are very familiar with your case. However, let me dispute some of the things you stated:

1) We absolutely do operate fast with our Customers. In fact, we take pride in that. However, you are not, and never have been, a Client of LMFX.

Given what is stated above, making such accusations is quite inappropriate and uncalled for.

2) Despite you not being a Client of ours, we have always promptly responded to your emails within mere hours. And we have detailed logs to prove it.

3) As you mentioned in your review and in your detailed correspondence with us, you invested funds with a Client of ours (his full name will not be disclosed due to our Confidentiality policy). And here's where things get complicated.

- You (not being a Client of LMFX), requested detailed information – trading activity, account details and email correspondence - for an LMFX Client, which we are absolutely not allowed to disclose, as per our Account Confidentiality policy.

- You then claimed that this person told you he made over 100 000 USD worth of profits, which he claimed „dissapeared“ - which we disputed and sent you clear instructions what needed to be done to see the Live (trading) account details and the trades themselves, should you not believe us. You refused to do so.

- We sent you multiple requests (to you and your „trader“ - the registered LMFX Client) to make his LMFX connect account (the website registration – and Live (trading) accounts that go along with it) a Joint Account, so that you may have access to it, and in so doing, we would have been allowed to provide the detailed information you requested above. You refused to do so, deciding to remain a person who has no affiliation with the Company whatsoever, other than the claims you made previously.

- Your „trader“ then ceased all communication with you when you pressured him (or so you claimed in your email correspondence with us). You then asked us what should you provide the IRS to launch an investigation towards him (which is, once again, out of the question, given your status with the Company). We promptly responded that we will not be able to provide any further information given your status with the Company. Furthermore, we can not assist you in any IRS investigations, as those are not Brokerage-related matters. Lastly, as stated above – you are not even a Client of our Company.

- Our representative then asked you to correct the review you left here, as it had a damaging effect to the Company and given the fact that your issues did not, in fact, come from us, but rather from the „trader“ you trusted your funds to. You then politely asked for the forum link, because you „did not remember“ doing a review.

4) To our surprise, we now see that you gave us a negative rating due to the fact we did not break our Confidentiality policies and due to your refusal to comply with our suggestions to have access to your funds (which you claim are yours). However, we still have no real indications that:

- You and our Customer are affiliated in any way.

- That the funds he deposited belong to you.

The „bottom line“, as you so delicately put it, is that you are responsible for your own actions. You were not denied assistance (given your status with the Company) and you were not denied suggestions on how to improve your situation, both personally and with the Company. However, your refusal to cooperate with us left our helping hands tied.

We would, once again, ask that you provide accurate and truthful information that is based on facts, not mere speculation. We stand behind our policies and words.
John C,
USA,
Jul 10, 2017,
Guest

Stay Away from LMFX

LMFX will steal your money, They actively find excuses not to process your withdrawal.

I am day 20 for my credit card refund to return my funds, they put in an "investigation" to see why it has not been processed. I have merchant accounts, it takes 3-5 days for a credit card refund.

My wire transfer has been on hold, this excuses is because of a "bank software error". Wiring money is done via SWIFT, the global economy would be down if swift was down.
 
David,
MA, USA,
Aug 20, 2018,
Guest

No communication, untrustworthy broker with often times bad data

I routinely enter the learn & earn contest and this month I have been able to achieve a high % return. I contacted the customer service asking about the past month's results since their website was not update since January 2017 (today is August 20, 2018), and they told me maintenance is working on it and the contest is not ongoing. No communication was sent to their customer and their maintenance takes over a year to resole this problem, which probably means that if you need to make a withdrawal you will only see it maybe a year from now. Making deposits also is not any easy task as you have to deposit it into main account and then into you trading account. Their data is often times off when compared to other brokers (such as FOREX.com, who is currently my current broker and so far the best broker I've dealt with, even with the 1:50 leverage) I would not recommend LMFX at all. Here is the transcript for regarding the contest topic:
Me: "Hi, Is there a place I can check the results for the learn & earn contest from last month, the website does not seem to be updated. And if any money in the contest can be withdrawn after a certain number of trades are made?"
LMFX: The learn and contest is currently on hold due to the maintenance. When we have any news we will update the website."
Me: "So at the moment the trades I am making on this account are for nothing there will be no winners this month?"
LMFX: "We are working on it. As soon as it is back on it will be updated on the website."
ME: "The website has not been updated since January 2017, it does not state that the contest is not on going. If this company takes longer than a year to do maintenance than this is bad. You should notify your customers that the contest is not on going and provide some type of credit to them for not providing information. I don't think I will be using you as a broker."
LMFX: "The management is working on it."
 
Reply by Maria LMFX submitted Aug 23, 2018:
Dear David,

Please allow me to politely disagree with your above statements.

Let me begin with your claim that there was no communication. There are news being posted on our website in regards to maintenances, and events concerning the company, that you could find here: https://www.lmfx.com/en/about-us/company-news.html
Also, we have sent a global email to all of our clients, with a notification about the maintenance.

The maintenance was extensive, yes, and quite necessary in order for us to improve our services and processing times, and I am happy to announce that we fulfilled our goals in that regard. One should also bear in mind that all companies go through scheduled maintenances, us included.

The contest itself was under maintenance, necesasry for improving the algorithms of the contest and to make sure that there were no incorrect results. We, as a company, would rather halt the contest to make sure it opperates correctly, than have it running in an imperfect state, that could cause further conflicts.

As for the date January 2017, that was the date automatically set by the servers, however as the maintenance has finished, I can assure you that the contests will resume starting next week. Also please do keep in mind that January 2017 is not the date the maintenance began.

You also mentioned withdrawals, which I can assure you are being processed properly within the time frames for each method.
If you personally have any issues with a withdrawal, please address us directly or at least provide any follow up information, otherwise we are unable to investigate mere allegations.

It seems that you are misunderstanding the process of transfering funds from the wallet to the trading accounts. That mechanism is in place, to make it possible for our clients to transfer funds into their desired trading accounts. Our clients can have up to 5 Live trading accounts and 3 Demo Trading accounts under their LMFXConnect account (LMFX website registration). Having control over which account the funds that our clients deposit is made possible by this precise tool.

I would also further like to state that the entire process of funds transfer takes a total of three button clicks and is quite intuitive and easy to do. Even if a client has trouble with the transfer of funds, he/she can always count on our support representatives for assistance via phone, live chat or email correspondence.

Please, do not forget, that different brokers have different liquidity providers which leads to them having different feeds.

And lastly, I would like to state that the supposed conversation you provided can not be a transctipt that belongs to our company. Our employees, never enter a chat under the company's name, nor would any of our representatives give such vague answers. Thus, this transcript can not possibly be considered legitimate. If you happen to have a legitimate transcript, you may provide us with it, as well as the name of the representative that has participated in that particular conversation.
USA,
Feb 9, 2018,
Registered user

Do Notice that broker never takes responsibility and it’s always your fault if something goes wrong. People from different countries having same issues and broker blames the trader for them.

Jan 20, 2018 - 1 Star In the process of withdrawing my money from lmfx. I had trouble closing trades causing me to lose money. On two occasions broker did not respect the stop loss causing me to lose money. Customer service is rude and not helpful

Reply by Maria LMFX submitted Jan 25, 2018 We managed to find you in our system. Here are the facts about your case:



1) You never contacted us via phone, live chat or email regarding any issues while trading.

2) You claim to have had troubles closing trades, yet, as mentioned above, you never contacted us regarding the issues you experienced. We would have loved to investigate and resolve your issues. Any customer representative would have advised you to send an email with the issue, so that our IT department and MT4 specialists could analyze the issue and provide an adequate solution.

3) Given the above statent, no customer representative could have been rude to you, as you never initiated contact with us.

4) We have even disregarded our Company Policy and allowed you an additional trading account, so that you may be satisfied as our customer.

5) You never initiated any withdrawals. In fact, you couldn't have initiated a withdrawal, as you did not upload valid verification documents, as stated in the Account Opening Agreement which you agreed upon when you created your LMFXaccount.



I would also like to point out that despite the negative experiences you claim to have had, you are still actively trading to this day.



Let me remind you that our contact details are on the landing page of our website, at your disposal. You chose not to use them. We are sorry for your losses, but those are due to your actions as a trader – no more, no less. We kindly ask that you correct this review, as it does not reflect the truth of the matter. We have detailed logs of your correspondence with us and will readily provide them to prove what is stated above.
 
Reply by Maria LMFX submitted Feb 16, 2018:
CLIENT'S FULL NAME REMOVED, - FPA Review Moderation Team Note: Posting private client information this way is unethical and may also be illegal.

Once again, you chose to post a false and misleading statements to the FPA community, damaging the good name and reputation of the Company.

Once again, however, you chose not to contact our support department and discuss whatever issue you may have had. Trust me when I say we would have gladly assisted with any issue you may have had. Should this be a case regarding trades and trading activity, it is standard Company Policy that a client sends a screenshot at support@lmfx.com so that we and our IT and MT4 specialists can examine the trades/issue. Any support representative would have advised you to send such an email, provided you contacted us either via Live chat, phone or email.

However, you never even attempted to contact us. We urge you to do so if you still have a dispute, so that we can properly assist you. You are more than free to use each of the methods stated on our website.

Your account has already been approved. You were informed by our Back Office department regarding the matter. Do note this is not the first time we make special exceptions for you – we have allowed you to exceed the maximum account limit, just so you are satisfied as a trader. Should you wish to cease your account with us, do contact us and we will gladly instruct you how to properly submit a withdrawal request.
Stephen,
Miami, USA,
Dec 24, 2018,
Guest

Charts stopped working at 11:35 am eastern today. Sent multiple emails and have not got one single response as well as my charts still not working. Utterly infuriating at the lack of communication from LMFX. Will never be using them again.
 
Reply by Maria LMFX submitted Dec 26, 2018:
Dear Stephen,

First and foremost, Merry Christmas and Happy Holidays to you and all traders from the LMFX Team!
I would like to point out that trading did cease during some of the 24th and all of the 25th of December and support was also not available at that time for the same reason. If you did contact us via mail I am certain you would have already gotten a reply with an explanation as well.
All markets officially closed at around 18:00 server time. That would be GMT+2 or around 11:00 am EST for you. This affects not only LMFX, but all other Forex Brokers as well.
If you would like to know the exact market work hours up to and including the New Year, please follow this link:
https://www.lmfx.com/en/about-us/company-news.html
This is where we publish all relevant information on any trading changes, schedules or anything else our clients may need to be aware of.
We would very much appreciate it if you can give us and our platform another chance, now that you are familiar with the official Forex operating hours for the holiday season.
Have a great and blessed holiday!
King Trey,
NV, USA,
Aug 27, 2019,
Guest

Withdrawal issue

Service use: Live

Length of use: 0-3 Months

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
 
Reply by Maria LMFX submitted Aug 29, 2019:
Dear King Trey,

Thank you for your feedback! We highly appreciate it!

I'm afraid we failed to find you in our system because you didn't provide any identification such as Wallet ID, Trading Account ID or your name.
We do have a verification procedure prior to every withdrawal for security reasons.
As long as we have the documents we need, we would process any withdrawal back to the client.
If you provide us with more information, we will check the case in details and get back to you with an update. Feel free to contact our Back office or our Customer Support. We will be happy to assist if there really is an issue with your withdrawal.
Thank you!
mohammed,
canada, Canada,
May 31, 2018,
Guest

scammers

they are active my buy limit trade order manually with out hit the price and stolen my balance
 
Reply by Maria LMFX submitted Jun 5, 2018:
Dear Mohammed,

Even though you did not choose to include your LMFX connect ID (registration number) or any details of significance to back up your claims, we are well aware of your case and would very much like to disprove your statements.

Let us begin with the following – you provided a screenshot of a trade order you claim was not executed properly to our Support, Sales and Back Office departments. You were promptly answered within an hour by our agents, explaining why your order was activated and closed with great detail. The evaluation was quite simple – you claimed that you initiated a Buy Limit order. The system logs, however, clearly showed that you manually opened the order. This is also backed up by the fact that your previous trading behavior also shows this tendency – opening trades before World Economic News to take advantage of the rapid market movements during those times. However, in this specific occasion, the market did not go your way and you were stopped out. We also reminded you that you never placed a Stop Loss or Take Profit options on this specific trade to protect your balance.


All in all, the situation was adequately handled by our representatives with all due professionalism. Our agents provided you with logs, screenshots, and MT4 data to disprove your claims. You, however, decided to respond with threats and posted a review here, on the FPA forum, to degrade our reputation.

I would like to remind you that we are very willing to provide all our communication and system logs, which will undoubtedly prove the truth of our statements and the evaluation of your trade. Just say the word.

We would also like to state that despite the claims made here, you continue to deposit funds, trade with us and use our services on a regular basis, which, if anything, proves the inadequacy of this review. We would be grateful if you correct it, so that it reflects the truth, as is proper.
Jack,
London, United Kingdom,
Jul 17, 2018,
Guest

Bs

Firstly they dont tell you when they maintaining the site. So you are then left in a sticky situation if you need money out. Then they tell you they didn't know there was gonna be a maintenance. There communication is also shit with clients as they just copy and paste response without even reading the question
 
Reply by Maria LMFX submitted Jul 19, 2018:
Dear Jack,

Thank you for your feedback!

We at LMFX diligently review each and every case individually and address it as such.

Please allow me to politely disagree with you.

Contrary to your statement, our website clearly stated that a scheduled maintenance will take place and that we do not have a precise time frame for its completion.

The purpose of this maintenance is to improve the speed and quality of our services and we sincerely apologize for any unintended consequences. Please understand not all cases may be resolved immediately and such problems take time to get resolved.

The entire LMFX team is working around the clock to resolve any lingering issues as quickly as possible.

Regarding the questions that you contacted one of the members of our team about, let me say that they were obviously related to the maintenance process and I’m afraid you cannot expect that you will get a different response than the one announced on our website.
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!
USA,
Dec 20, 2017,
Registered user

Be VERY cautious

I have been a happy member of LMFX since March, and up until this point the experience has been great. In fact, I have recommended them many times to others.

However, I am now extremely concerned about this broker. I have been waiting almost a month for a withdrawal, and all their recurring estimates of 2-3 days continually come and go. Backoffice response is decent, but ultimately they can/will do nothing. They will not provide me with wire tracking numbers, and their latest email responses are in all caps. I am sure they have reason to be frustrated with me as well since I am emailing them constantly, but I want some damn answers or at least a wire number. A month of nothing is very hard to handle.
 
Reply by Maria LMFX submitted Dec 28, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

Please understand that when it comes to withdrawals, we use intermediary services, which can cause delays, which are simply out of our hands. We process the withdrawals on the same business day or the next, depending on the time you initiated your withdrawal request. This means that we send the funds your way within 24 hours (excluding weekends and official Holidays).

We checked our emails and we are certain beyond doubt that no Back Office agent wrote to you in all caps. I would kindly ask you to correct this statement, as it is simply untrue. Rest assured that no agent has been frustrated with you, as these situations are handled with utmost care. We have detailed logs of your correspondence with us which can prove that this is indeed the case.

We have also received information that you have, indeed, already received your funds. We apologize for any delays that may have happened, but please understand that they did not originate from us. We do our best to thoroughly investigate each similar case and will happily provide our clients with any information that we have. We also take all the necessary measures available to us to speed withdrawals up as much as possible, but on some occasions the matter simply does not depend on us, but on some third party that we have no control over. As seen in the corrected reviews, withdrawals always reach our clients. There has never been a case where a client has not received their funds after cooperating with us.

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.