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

Leo P,
Manila, Philippines,
Aug 29, 2019,
Guest

Decent but not perfect

Service use: Live

Length of use: 6-12 Months

lmfx is a pretty decent broker over all, they do offer a good set of account types, but I stick to trading premium. Just to be clear they are not the only broker i trade but here is my experience trading with them for 7 month live or so. Good responsive platform nothing out of the ordenary but to be expected. What i enjoy the most is the spreada. its pretty good and most would agree, eurusd on an average is at 1.3-1.4 which fits mu scalping. Withdrawals are good on my end, bank wire took aprox 3 weeks or so, well they did state 12 working days. another option is through a third party which in my case i ise skrill and it takes roughly 48hrs or sooner, most of the time processed the next day. The down side are skrill fees and a 4% exchange rate to local currency but its faster. Lmfx does offer a good trading experience for those who are in it just to trade forex straight up. Other brokers might offer options from account types to promos but lmfc still gets the job done anyhow. no complaints on my end really but will be looking forward to more growth hopefully in the future
  1 trader has found this review helpful
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!
NY, USA,
Aug 26, 2019,
Registered user

Manipulated my orders which wiped my account

Service use: Live

Length of use: 3-6 Months

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

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

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

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

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

Until then, I will not change my review. They are a good broker, but at the same time, I feel like i can't trust them anymore as my orders were maniuplated and my account wiped.
 
Reply by Maria LMFX submitted Aug 28, 2019:
Dear liambailey2,
Your complaint regarding the said trades was reviewed thoroughly and you have received multiple replies about the matter. The cause for your experienced losses, was explained to you in great details by different agents of the company in different ways, yet you refuse to understand the matter. We understand that you are frustrated about your losses, as it happens to every trader. We have tried to explain to you the reason behind them, so you can avoid such in the future. However, refusing to understand our explanations is entirely your choice.
As you can see, the entry point you had placed for both trades was met during the weekend, but since the market is closed during at that time, there was no possible way for your positions to be filled. Instead, they were opened at the next best price available at the exact price where the market opened on Monday. Both trades were later Stopped Out, unfortunately, as you did not have enough funds to sustain them. Your real cash equity was not sufficient to hold the trades open and to even cover the spread.
In your case, there was no possible way that your orders could've been filled as the market was closed when they were hit. So instead they were filled at the next best available price. Again, I would like to stress that this is not a fault of the brokerage, but simply how pending orders work.
We are an STP broker. This means that your orders go straight to the market without any interference on our end. Even if we wanted to, we could not manipulate the trades in any way. In fact, it is more beneficial for us for you to be successful as a trader, as that means you are more likely to remain our client and trade more, as we benefit from the traded volumes, not from the losses of our clients.
Bear in mind that the Deposit Match Bonus provided you with the required margin to open a the trades with a total volume of lots. However, you did not have enough funds to sustain the movement of the market and as the market moved against you, it caused for you to lose your Real Cash equity, thus removing the bonus and initiating a Stop out. The other pending order was afterwards deleted as you did not have enough free margin for it to be open.
Please note that you also had the negative balance protection on your account. The amount was almost half of the loss generated from this trades. Should you had not this service enabled, you would have owed the company funds as you have lost more than you have.
Not only does your negative review affect our reputation, we also sustained financial losses, due to the fact we covered the negative balance on your account.
We are sorry that you are frustrated about your losses. You yourself were aware of the risk that you took. However, we cannot be held responsible for them. Unfortunately, taking this matter to the FPA community will not result in these loses being reimbursed.
Janell,
Louisiana, USA,
Aug 16, 2019,
Guest

New Trader

Service use: Live

Length of use: 0-3 Months

Maybe I missed this in the term agreement but lmfx need to make it clear to your members who are just starting that the bonus money you give them is not really theirs and that’s it’s just an illusion to make you think you have more money then what you really have. So what happen to me is that I put 300 in my account and I get a notice saying that lmfx has giving me an extra bonus to my account.. I was super excited about this because this is the first time I’m trading live and I did a lot of demo so I thought I was ready,.. well I notice in my trading account now says it has 600 I’m like wow this is awesome.. this broker is not as bad as everyone say they are but I was wrong. So as I began to trade I jump in this really good setup thinking of course I can handle the market pulling back because of how much money was on my account well soon as I was negative 259 I believe that’s the right amount might have been more but whatever but as soon as it went negative like it was going to go all the way back lmfx took there bonus away and my account zeroed out. I’m looking like what the hell is going on but then I notice on my account that it says lmfx had removed the bonus away from me which zeroed my balance out and the sad part is I went on my demo account got in the same trade and made money on it.. so I’m like maybe there was a mistake so I put 100 on the account and lmfx gave me a 100 and boom soon as the account went negative lmfx took there bonus back again and zeroed out my balance now I’m like s** you and on to a new broker.. lmfx sucks
  1 trader has found this review helpful
Reply by Maria LMFX submitted Aug 21, 2019:
Dear Janell,
I believe you severely misunderstand how our deposit match bonus works. Its purpose is to increase the trading funds you have in your live trading account and help you further leverage your account. The bonus can also be claimed if specific trading conditions are met. Said requirements are outlined in our Deposit match bonus terms and conditions document, available in the Legal documents page on our website.
Note, however, that the bonus funds may not be lost and if the equity of your own account goes below the deposit match amount, the bonus is automatically removed by the system.
The document itself is located here and the the most important parts are marked in bold: https://static.lmfx.com/doc/Deposit_Match_Bonus_Terms_Conditions.pdf
Clients who enter the program are prompted to agree with the bonus terms of service while opening a trading account with said bonus and it is considered that they have read and understood all other acknowledgements regarding the bonus, as well as our account opening agreement and our terms of business.
While it is regrettable that you incurred losses, all necessary documentation is readily available on our web page on demand and you are also welcome to contact us directly regarding any questions or when in need of clarification regarding our services.
Texas, USA,
Aug 12, 2019,
Registered user

I would trust them again with my hard earned money

Service use: Live

Length of use: 0-3 Months

I have been trading FX since 2008 with many US and offshore brokers. I’m only making a one time quick post here, because I recently chose LMFX based on babypips. When I made my first withdraw request, I got big time run around and other stalling nonsense. I have had close contacts with agents in alpha bet soup agencies, and only when I mentioned this to LMFX did their attitude instantly change and all of a sudden the same bank documents already emailed for withdraw wire became “clear”, when they were mysteriously unclear just minutes before. I wanted to really believe they were honest offshore broker, but they dont seem trustworthy based on my experience. You were warned, please pass this on.
 
Reply by Maria LMFX submitted Aug 14, 2019:
Dear rynobarker,

We have checked your case and are fully aware of your particular situation.
Allow us to state some facts in regards to your withdrawal process:
- Your deposit was received on the 18th of July
- In less than 5 hours ( around 3:00 am GMT) you have requested a withdrawal - without even transferring the funds to your Live trading account and trading. Thus, we deemed necessary to reach you and check if there were any issues or problems.
- You have stated that you wish to test the withdrawal procedure and we have complied with your request.
- On the same business day ( less than 6 hours ) your withdrawal request was reviewed and you were requested a Bank Statement in order to verify the bank account details and to comply with the Anti-Money laundering and security of funds policies.
- After 9 minutes of you providing the BS, you received a reply. It would have served in the best interest of both parties if the document provided from you was in the highest quality ( so it can be reviewed from the Compliance department ). Yet, you failed to do so and our compliance agents had to work with a document of lesser than the usual quality. Still, your document was accepted.
- The second reply to your email took only about 5 mins
- You can find information about withdrawals everywhere on our website. It clearly states that international wire transfer takes 2 to 15 business days, depending on your Bank .
- Your withdrawal was processed on the 19th of July around 12 am GMT
- It took 33 hours for your withdrawal request to be processed on our end
Given the circumstances and the above mentioned facts, we fail to understand how the withdrawal procedure was “ big time run around and other stalling nonsense”
Your mention of close relations with “alpha bet soup agencies” has nothing to do with the processing of your withdrawal request. With or without them, we would have followed the same verification procedures that ensure the security of your funds.
We did our best to provide you with fast and reliable services and hassle free payment process, as we do with all of our customers .
We hope that you would change your mind in the future and at least try our trading platform and the rest of our services first.
Thank you!
Nick,
Jones, USA,
Aug 9, 2019,
Guest

Difficult to withdraw funds

Service use: Live

Length of use: 6-12 Months

This broker is easy to use until you want to get your money back. They make you go through an extensive process to get your funds back. The process makes you feel like they are prolonging a scam.
 
Reply by Maria LMFX submitted Aug 12, 2019:
Dear Nick,
We are sorry to hear that you had a bad experience with our brokerage. We are doing our best to improve our services and we do appreciate all constructive feedback!
I'm afraid we didn't manage to find you in our system and in order to give you more specific information we require some identifiable information from you.
Allow me to add several details that might be helpful regarding your case.
LMFX has specific verification procedures prior to any withdrawal that are only designed to ensure the security of your funds.
Let me also emphasize that we only use reputable payment methods, but they also work within certain time frames which could also add to any possible time delays.
Furthermore, our Back Office is in constant communication with our clients and they would be happy to answer any questions you might have concerning your withdrawal so feel free to send them an email at your convenience.
Since we didn't get any particulars from you we are not able to provide more assistance, but if you are willing to get back to us or join in on this conversation I am certain we can find a satisfactory resolution for you and our company.
Thank you!
Newmarket, Canada,
Jul 1, 2019,
Registered user

Review

Service use: Live

Length of use: Have not used

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

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

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

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



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



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



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



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



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



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



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



We respectfully ask that you correct your review so that it reflects the truth. We never withheld funds from you. We always tried to assist you as best as possible. The fact of the matter is you were treated with respect, every single process was transparent and you have received your funds, just like every Customer we ever had.
 
USA,
May 23, 2019,
Registered user

Third Party Bank card processing issues for 3 days in a row now...trader beware.

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

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

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

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

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

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

I have never had a deposit/withdraw issue with my other two brokers for 11 years now. I will change my review to 1 star if this problem is not corrected soon.
  1 trader has found this review helpful
Reply by Maria LMFX submitted May 24, 2019:
Dear robrobby,

While we appreciate your feedback, we must inform you that companies do go in maintenance all the time. It is something quite normal and ensures faster services in the future. We would much rather give the processor the necessary time to complete their maintenance than the possibility of a larger issue in the future.

We completely understand your position – it is the best method for you, it is normal to experience displeasure due to the fact you desired method is temporarily unavailable.

However, as you mentioned, we have provided alternatives. Yes, they do have a fee for processing deposits, but you are, essentially, complaining that you have options to deposit, which is inadequate.

You also present the situation as if LMFX has a say in the maintenance of the Visa/MasterCard processor. Let me assure you that we do not. We are in constant communication with them and they assure us the issue is being professionally handled and it will be resolved as soon as possible.

We kindly and respectfully ask that you have some patience until the issue is being resolved. We are aware this is an issue for our customers – it is being handled with care.
USA,
May 18, 2019,
Registered user

Good for U.S. clients

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

I also appreciate the addresses by the broker for issues that other traders have experienced.
 
alabama, USA,
May 11, 2019,
Registered user

its 5-10-2019 and i did receive my refund Today and LMFX did go out of there way to return the funds just wanted to update on this

Apr 19, 2019 - 1 Star at first all was going ok
I uploaded docs uploaded all that I had found and thought I had all things uploaded if you get my drift
so i went to deposit using a card
did the $50 required
then I relieved an email i needed a picture id with the face of my card in the picture
this was not something I was willing to do and I did not know of this beforehand
I did try to look around and see all the requirements
so I informed them to return the deposit
they said Please kindly allow 2-10 business days for the funds to be transferred back to your account. that was on Fri, Mar 8, 9:40 AM
it is now 4/18/2019 and no refund

now on Wed, Apr 17, 6:19 PM (1 day ago)
I get We kindly request that you send a bank statement from the day of the refund until present day that clearly shows the transactions made. You should be able to get it from your online banking system or directly from your bank.

You can send the document as a reply to this email and it will be reviewed as quickly as possible.

Best Regards,

Daniel Harris
should I send this is this safe ?
should I just walk away and let these people have the $50?
is there a third party i can ask that would be safe ?to send it to them

Reply by Maria LMFX submitted Apr 23, 2019 Dear cornbread8,



Thank you for your feedback!

Please note that as my colleague advised you, refunds may take between 2 - 10 business days (excluding weekends and bank holidays). Keep in mind that due to Easter holidays, delays may occur.



Please also be advised that we require a recent bank statement in order to make sure that the transaction hasn't hit your account already. It is a standard and secure procedure which will not harm your account in any way.



We have already requested an investigation by our payment processor and we expect an update.

As soon as we receive any response on the matter, you will be notified personally via email and the latest information will be posted here as well.
 
California, USA,
Apr 8, 2019,
Registered user

Highly recommend!

I am very satisfied with this broker. I've been using LMFX for roughly 2 months now Their customer service is great. Any questions I have, they answer within minutes on their site. Their back office is very speedy when responding to any emails with account inquiries. I made my first withdrawal of $ 200 via credit / debit card option, however there was an issue with US clients using that method of withdrawal. So, the back office immediately contacted and rectified the problem by processing my withdrawal through wire transfer. It took 5 days for me to receive my withdrawal. With everything said and done, I received $ 180 with all transfer fees taken out.
 
James Lord,
VA, USA,
Mar 19, 2019,
Guest

Stay away!! They will process your deposit immediately but when you decide to take your own money out you will get the run around.
Its been 3 days since I requested a withdrawal and I keep getting emails with excuses. They literally told me they needed to know why I wanted to withdraw before they would process it!!! WOW!! Now I'm told they are waiting for a processing "processing slot"??!!!
 
Reply by Maria LMFX submitted Mar 21, 2019:
Dear James Lord,

We are very much aware of your complaints regarding your withdrawal. You have been properly responded to within minutes of each and every request and complaint. In all honesty, we are shocked at your attitude towards your withdrawal, especially considering the fact it has not been delayed a day.

However, you also failed to mention a few details in your review. Allow me to share the missed details for the broader audience.

Your withdrawal experience started when you initiated a Credit/Debit card withdrawal on 15-03-2019. It was rejected due to the fact that the Credit/Debit card withdrawal option is not available for US customers. You were informed of this and instructed how to submit your withdrawal.

Once you resubmitted your withdrawal using the correct method, you were also informed of a mandatory requirement we have – a bank statement submission, in short. You submitted that document on 19-03-2019, four days after the request.

Your document was received and approved. We informed you, however, that because you submitted it outside of processing hours, your withdrawal was scheduled for checking and processing the next business day. That is when you started complaining that we are purposely delaying the withdrawal and we have been for the last week, which, as explained above, is preposterous and untrue. If anything, it is due to your own actions – failing to submit your withdrawal using the correct method and then replying to our withdrawal policy email four days after it was sent. Kindly be reminded we have detailed email correspondence with you and we are very much ready to provide it to prove this is true.

Despite your toxic attitude and language in your emails, you were properly responded to within minutes.

While you found our policy to call and email our customers annoying, it is done out of good intentions and concern, nothing more. Let me assure you, here and now, that whether you responded to that call or not, it would not have affected your withdrawal in the slightest.

Let me also assure you that the withdrawal is on its way to you, it was processed yesterday. We also sent you an email regarding the matter. All in all, it was sent to you in an expedited manner, considering the date of submission.

As per our Terms and Conditions, which were provided to you on several occasions, a withdrawal processing may take up to three Business Days. Yours was done in one. Not because of your toxic attitude, but because we felt your urgency.

Kindly correct the review to reflect the truth. As you can see, the blame, if any, is on you. And we have the logs to prove it. Please tell us whether or not you wish them posted in front of the broader audience of the FPA forums.
NEW YORK, USA,
Feb 6, 2019,
Registered user

Great on boarding, easy to start. CS is knowledgeable and fast. I did test withdrawal of $100 via wire took about 5 business day and received about $32 after fees of international bank transfers and my banks $15 fee. l'd like if they acquired a CRYPTO deposit and withdrawal system. *note i am in the US. The spreads for most pairs are fair
  1 trader has found this review helpful
Reply by Maria LMFX submitted Feb 12, 2019:
Dear MICHAELL4,

Thank you for your review! We highly appreciate it!

We do our best to improve our services and your feedback will be forwarded to the proper department!

Should you have any questions, please feel free to contact our Customer Support!
california, USA,
Feb 1, 2019,
Registered user

don't believe all the review because some are fake review

i joined LMFX because of their 1:1000 leverage since im doing Copy Trade service. I been with them for 8 months and they did had a withdraw problem last year and it wasn't fast enough but it took awhile. Every since they change banking process, it arrived much quick than before so im ok with that. Its seems to me that competitors are writing a fake reviews. I saw my previous broker Forex.com review and it only had 2 stars review so i know its impossible. Every U.S forex trader know what Forex.com company is since they are very big company. Im happy with LMFX because of their huge leverage and just a little slow withdraw process is not a big deal for me.
 
Forex Peace Army
Review moderation team note
Your review went through the same screening for fakes as the reviews you disagree with.  Do you think everyone always has an experience that exactly matches yours?  Is there some reason why your review should be considered more reliable than reviews that disagree with you?
Reply by Maria LMFX submitted Feb 6, 2019:
Dear ji3200,

Thank you for the kind words! We highly appreciate it!

We are always trying to improve our services and we will do so in the future!

Please let us know if you have any questions!

Thank you!
USA,
Jan 26, 2019,
Registered user

after doing some research im gonna give this broker a try, the complaints i read about withdrawals is how long it takes and never about traders not getting there money, i will keep you posted
 
Reply by Maria LMFX submitted Feb 6, 2019:
Dear Poundtrader,

Thank you for giving us a chance! We appreciate it!

Rest assured that we will do our best to satisfy your needs as a customer!

Should you have any questions, feel free to contact our Customer Support!
Sam,
Norwood, USA,
Jan 11, 2019,
Guest

If you are considering joining LMFX please just go through the companies response to people on here. Any professional company doesn't use the language they use. They act passive aggressive. They think just because they respond fast they have the "best" customer service even though they don't try and fix anything unless you come on here and complain lol. Deposits will take less than an hour but withdrawals take several weeks. Anything you say that they disagree with there answer is consistently "according to out terms of agreement we are not responsible" for practically anything so just know if you are trading with them. 1. When you withdraw you will never know the amount you are receiving because they 're bank and "intermediary" have fee's that they don't even know how much it is. 2. They will never claim responsibility for anything just blame everyone else. So do yourself a favor and assume any good reviews on here are most likely directly from them. Every bad review on here i've experienced i just wish i read it before joining them.
 
Reply by Maria LMFX submitted Jan 14, 2019:
Hello, Sam.

Allow me to first address your remark about the tone of which we respond to reviews here. When meeting offensive and untrue reviews, it is only natural to defend the Company's integrity and reputation in a defensive manner, which, up to this point, only you seem to find “passive aggressive”. While we do respect all our customers and aim to provide the best and the most satisfactory service possible, the nature of these reviews can hardly be responded to with anything but a defensive tone.

Secondly, one should never simply click “I accept” on any Terms and Conditions documents without firstly going through them very carefully. You appear to be displeased with the fact that you were charged bank fees and the time it takes for a Wire Transfer withdrawal to reach you, as if you were not made aware or you were not informed. Since you did not read our Account Opening agreement when you opened your account with us, allow me to provide it to you now: https://static.lmfx.com/doc/Account_Opening_Agreement.pdf

Allow me to quote Section 13, adequately labeled “Client Funds”, more specifically subsections 13.8 and 13.9, which state:

13.8 The Client agrees to pay any requested bank transfer fees when withdrawing funds from the Client’s Account to his designated bank account. The Client is fully responsible for payments details, given to the Company .The Company accepts no responsibility for the Client’s funds,if the details given by the Client are wrong. It is also understood that the Company accepts no responsibility for any funds, which have been not transferred directly into the Company’s bank accounts.

13.9 The Client agrees that any amounts sent by the Client or on the Client’s behalf to the Company's bank account will be deposited to the Client’s Account at the value date of the payment received and net of any fees charged by the bank account providers or any other intermediary involved in such transaction process. The Company must be satisfied that the sender is the Client or his authorized representative, before making any amount available to the Client’s Account, otherwise the Company reserves the right to refund / send back the net amount received to the sender by the same method as received.

Those documents can be seen at any time on our Legal Documents page here: https://www.lmfx.com/en/about-us/documents.html

They are, by all means, not hidden. When you accepted those Terms and Conditions, you also agreed upon the withdrawal time frames, which are, once again, stated on our website here: https://www.lmfx.com/en/funding/funding-methods.html

You were neither forced nor mislead to accept these Terms and Conditions, which begs the question why are you throwing accusations towards our Company for the fact you did not familiarize yourself with these processes beforehand, and more so, whose responsibility is it to inform oneself with any Terms and Conditions one accepts them.

While LMFX does not charge any deposit and withdrawal fees, banks do. We always provide SWIFT confirmations on request, so that our clients are always informed of the fees our bank charges for the Wire Transfer withdrawal transaction. So what you are stating in your review is very much false and quite misleading.

Finally, I would like to address your attacks towards our integrity and reputation:

The reviews written by our clients here are 100% genuine. Had they not been, we wouldn't have been able to track their cases and provided adequate responses to them. That is, provided they identify themselves via their Company ID (also known as a Connect ID) here. Which begs another interesting question – since you did not provide a Connect ID in your review, how can the readers be sure you are an actual Client of our Company? In its current state, this review can not be considered anything else but a malicious attack towards the Company's reputation and integrity. Do identify yourself, so that we may provide a more detailed response – such as our correspondence with you and what we have provided you.

All and all, we have always stood by our reputation. Again, we stand by every word in this review and remain confident that if you ever reached us, we have responded promptly and with detail.
Russian Federation,
Dec 28, 2018,
Registered user

This broker illegally lowered the leverage to 1: 10 for my account number 51317 ,so I could no longer trade with them !!!!They do not like profitable traders! This is a Scam!!

Dec 26, 2018 - 5 Stars Very good broker...fast withdrawal 10k$! Very good work support! I recomendate LMFX for big deposit! They professionals!
 
Reply by Maria LMFX submitted Jan 2, 2019:
Hello, Anatoly M.

I fail to understand the quick change of heart from 5 to 1 stars while we have provided the exact same great service to you or any of our other clients.
I would like to point out the following:
We did not “illegally” lower your leverage since a) leverage change is not restricted by law and b) LMFX, the company reserves the right to do so at its’ own discretion per the Account opening agreement and the Terms of Business documents, which I should remind you, are considered as read and understood by you since you have an active account with us.
These documents may be found here:
https://static.lmfx.com/doc/Account_Opening_Agreement.pdf and
https://static.lmfx.com/doc/Terms_of_Business.pdf
More specifically I would like to touch upon these points:

3. Scope of the Account Opening Agreement
3.2 The Company reserves the right, at its sole discretion, to withdraw the whole, or any part of the Services at any time, on a temporary or permanent basis. The Client acknowledges that the Company is not obliged to inform the Client of the reason of such changes.

7. Arbitrage
The Company reserves the right to make the necessary corrections or modifications on the Account involved, without prior notice. Accounts that rely on arbitrage strategies may be subject to the Company’s intervention and the Company’s approval of any Orders. Any conflict arising from such quoting or execution errors will be solved by the Company in their absolute discretion.
7.2 The Company is not obliged to contact the Client and advise upon appropriate action reflecting changes in market conditions

The second point touches upon the reason why we placed a restriction on one of your accounts. We find the method you employed to trade with us predatory and had to thus restrict the leverage to protect the interests of the company and our liquidity providers.
We chose this approach so that we could at least process your withdrawals, which you confirmed as received previously. Otherwise, we would have had to close your account and erase all profits you made using the restricted methods.

Note that despite all of this, you can still trade with us, but you will have to either use the same account with a restricted leverage of 1:10 or simply use of the the other 2 live account types with no added restrictions like everyone else.
As an STP-ECN broker we have no issue with profitable traders. We only have problems when traders try to game the system without any actual market trading.

Lastly, I would ask you first look up the definition for “scam” before using it to describe a broker that just paid out 12,726.00$ to you.

Good day, sir!
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!
USA, USA,
Dec 21, 2018,
Registered user

Good service. Needs crypto.

Great customer service and a seamless profit withdrawal process, however l, i will not be depositing money with them again until they integrate crypto withdrawals. With the currnt state of agressive regulatory bodies going after payment methods and banks to make sending and receiving money offshore as difficult as possible, i feel the likelihood of having my money stuck offshore one day is very likely to happen. Although this wouldnt be the fault of LMFX (who i trust) i cant in good conscience send my money offshore without the possibility of withdrawal through crypto which is the only reliable withdrawal method these days since it doesnt use banks.

If anyone from LMFX is reading this. I highly recommend adding crypto deposits and withdrawals.
 
Brooklyn, New York, United States,
Dec 11, 2018,
Registered user

LYNISTIX LLC

I made a statement recently about a deposit issue with LMFX in which I was having difficulties depositing funds into my LMFX wallet.... I must've made a typo error when I stated that I used a payment method called "Close"... I used vload and it was vload that was causing the deposit issue and not LMFX... so far LMFX has been a decent broker... i did eventually find their telephone number and was able to call them... so this statement is in regards to my last statement that was negative... and I am now stating that the issue was in fact resolved by LMFX and vload together... so far there is no problems with LMFX... fast execution... decent spreads and huge leverage... I will keep everyone posted on my entire experience with them... but for now... no issues... I am going to be doing a withdrawal soon and will see how that goes... we must stick together in the forex community to make sure everyone gets treated fairly and honorably... bye for now...

Dec 2, 2018 - No Rating So far lmfx has been decent... but today I tried to deposit a $250 using close and the money still has not hit my lmfx account/wallet... I emailed support and no answer... there is no chat box on their site to chat with them about the issue... I tried to call the phone numbers they have listed and the numbers do not work... this makes me skeptical about ever trading with them with a larger amount of money... especially when you cannot communicate with them when there is a deposit or withdrawal issue... this issues is still not resolved and closed has confirmed that money was transferred to lmfx.... something for everyone to consider here...

Reply by Maria LMFX submitted Dec 4, 2018 Dear Lynistix LLC,



Thank you for your feedback!



I kindly ask you to provide your account number in the future when you decide to post such reviews because it is really hard for us to determine whether the information you are providing is relevant or not. We still managed to find you in the system using your name.



Furthermore, we do have a Live Chat service and it is available at the bottom right corner of our website. It is a blue tab which states “Live Chat Support”. I’m pretty sure that it was also available during your attempts to contact us.



I can also assure you that our phone number does work and we have not received any other complaints such as yours so far. Next time, please make sure that you dialed the correct phone number, because misdialing a number will result in an error. Please also note that we do not work during the weekends, like most of the brokers out there, so if you tried to contact us on a Saturday or Sunday, I’m afraid we were not available at the time.



Let me also mention that we don’t have a funding method called “Close”.



I checked your Wallet in our system and I can see that you used Vload to deposit funds on Sunday.



I can also see that your deposit has already been processed and you even made an internal transfer to your trading account.



I kindly ask you to edit your review so it reflects the actual circumstances.



Thank you!
 
Reply by Maria LMFX submitted Dec 13, 2018:
Dear LYNISTIX LLC,

Thank you so much for taking the time to edit your review! We appreciate it!

I am glad that the issue was resolved and that you are still satisfied with our services!

We stay at your disposal should you have any questions!

Happy holidays!
Golden Light,
Sacramento, USA,
Dec 10, 2018,
Guest

Super happy

Ive been with the broker for a while and Ive been having a great experience, live chat will always help you. VPS is working great. SO MANY options even US and UK stocks! So I am super happy with everything and nowadys all people do is complain complain but they never want to put the effort to write a good review EXCEPT me! I am taking the time to express my gratefulness with this broker and I expect long term supplemental income from this venture!
 
Reply by Maria LMFX submitted Dec 13, 2018:
Dear Golden Light,

Thank you so much for your kind words! We highly appreciate it!

The whole team of LMFX stays at your disposal should you need any assistance in the future!

Happy holidays!
Nick Allan,
Alfonso, Philippines,
Dec 10, 2018,
Guest

Good

lmfx keeps a good track record, very active both in the community and through their support. so far i uave traded a couple of months live. all questions answered, and they did provide the right expectations regarding forex trading which i like. if i was to point out something it would be withdrawal options, i hope there were more available especially locally. maybe in the future.
 
SAMEER SAM,
Islamabad, Pakistan,
Dec 2, 2018,
Guest

Earning possible with this broker

Opeening account wasn't a hassle.just clicked and typed in info required and documets uploading. So far i had noted they offered mt4 which is already world's best software up till now.

Can't say any much about the spreads because they are most likely similar. I only trade 0.01 lots only because this hrlps me chasing small amounts in daily basis. I heard many voices of getting rich by trading high lots but i have no hassle to double but to earn regularly. So i can say that this broker system is good for trading daily.
 
Marco,
Mexico,
Nov 21, 2018,
Guest

Would be cool that accepts cryptocurrency deposit/withdrawal. Everything involved with trading it's good
 
Joshua,
Prince George's Park, Singapore,
Nov 19, 2018,
Guest

Credible broker

I have been in Forex field for several years and after some struggles with local broker, I decided to try an international broker. This broker was recommened by many members in a local forex trading forum. For registration, I have to provide 2 documents (ID + Bank statement), then my account is verified and I received a phone call from an account manager. I tried demo for a few days before getting into real trading. Overall, tight spread on eur/usd and gbp/usd, quick deposit and 24 hours withdrawal process and quick support through Live chat. Could say everything is good after 9 months trading with this broker except you cannot customize the demo fund for advanced testing.
  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.