LMFX Review

3.292 · 130 REVIEWS
Updated: Jun 18, 2021 · 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, WebTrader
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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3.292 · 130 REVIEWS
Forex Peace Army
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Traders Reviews

Washington, USA,
May 25, 2021,
Registered user

Update

Service use: Live

Length of use: over 1 Year

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.
 
JayR Santiago,
Lipa, Philippines,
Apr 11, 2021,
Guest

Good

Service use: Live

Length of use: 3-6 Months

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
 
annoymous,
Austin, TX, USA,
Apr 9, 2021,
Guest

DECEIVING THIEVES! YOU WILL LOOSE YOUR MONEY IF YOU TRADE WITH THESE CROOKS

Length of use: 6-12 Months

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!
 
Forex Peace Army
Review moderation team note
Hello Annoymous,

Please post any followup, additional information, screenshots, and other evidence in THIS THREAD.

Thank you.
ILLINOIS, USA,
Mar 2, 2021,
Registered user

BUYER BEWARE!!!

Service use: Live

Length of use: 6-12 Months

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!
 
Reply by Maria LMFX submitted Mar 5, 2021:
Dear PWALKER,
Thank you for your review! We understand your frustration probably caused by confusion but I will try to explain the situation once more even though it was explained to you already in great detail.
First of all, claiming that you submitted a BUY order which was treated as a SELL order is impossible. But just to be on the safe side we asked you to provide us with screenshots and MT4 logs which you did and it is greatly appreciated. After checking the screenshots, the logs, and our internal system, we confirmed that your BUY order is actually a BUY order as it should be.
As explained in multiple back and forth emails, the fact that the market moved against you, does not mean that the system registered it as a SELL order. The movement of the price and the market does not change the type of the order. When you place a Buy order, you profit from the rising of the price. In your case, however, the trade was opened at 13101 and closed at 13056. This resulted in a loss.
My colleagues provided you with a detailed explanation and even a visual representation of a market movement so you can see the concept of a downward market.
But even after all these explanations on our side, you continue to claim that we scammed you 2000 USD, which is again a false accusation. You did have an unprofitable trade, a BUY order which was in fact a BUY order, and due to the market going down, you experienced a loss of -225 USD (not 2000 USD as stated in the comment above).
The last email we received from you contains threats, swear words, and a refund request (with more swear words than necessary) and we once more explained that a refund is not possible since there wasn't a mistake on our end. Shortly after that, you requested a withdrawal which was processed right away.
We're deeply sorry for the way you feel but I'm afraid my colleagues were more than kind to you and explained everything in great detail. In case there is still something unclear regarding the situation, please feel free to contact our Customer Support again and we will do our best to provide the information you require!
Thank you!
Duy Huynh,
Ho Chi Minh, Viet Nam,
Feb 2, 2021,
Guest

Reliable broker for me

Service use: Live

Length of use: 6-12 Months

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.
  1 trader has found this review helpful
John,
Doe, USA,
Dec 4, 2020,
Guest

Give them your money if you do not want to see it again.

Service use: Other

Length of use: 0-3 Months

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.
  1 trader has found this review helpful
Reply by Maria LMFX submitted Dec 7, 2020:
Dear John,

Thank you for your review!
Please note that as per our Company policy, all complaints regarding trading activity must be submitted via email.
If you have any issues regarding a particular trade you will have to send us an email to support@lmfx.com with your trading account ID, the ID of the trades themselves, along with a detailed description of the exact issue.
Any relevant screenshots will be appreciated as well. After we receive your email, we will investigate the matter.
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.
  1 trader has found this review helpful
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
  1 trader has found this review helpful
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.
  1 trader has found this review helpful
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!
  1 trader has found this review helpful
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.
  5 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!
  4 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.

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.