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

Dung Nguyen,
Can Tho, Viet Nam,
Nov 1, 2018,
Guest

Trading for a few months and everything is good

A friend introduced me LMFX and I’ve been trading with this forex broker for several months now. I see their MT4 trading platform is quite stable, I don't see any issue in trading but sometimes execution is quite slow but it's still executed at my expected prices. Variety account options and good responsive support team. Instant deposit and swift withdrawal. Recommened!
 
Munir Taju,
Layyah, Pakistan,
Sep 30, 2018,
Guest

Four stars for now!

Trading with this broker for sometime now; Lmfx is a good broker in my opinion however not the best one because it has few limitations too which i am sure they will improve for sure. But atleast they do not forcefully close your active trades claiming liquidity problems. Lately i had very terrible experience with another broker which offers crypto. I knew that such crypto products comes up with high risky and volatile profile. But the later mentioned broker usually close most of active positions blaiming liquidity issues. Lmfx trading platform is good so far. Trade spreads are reasonable allowing most of my trades ending in profits though i use tight stop loss.

Besides my mentioned pros here are a few cons which i think should be addressed on some urgent basis if they want to be on my favorite broker's list.

They claim maximum uptime in server execution as well as withdrawal processing but i can say that they should add more withdrawals options like bitpay etc so that we can get our funds more quickly. Server stability is good so far. They should also add crypto trading because crypto is trending like fever these days. I really hope that they will consider my proposal and update soon.
 
France,
Sep 17, 2018,
Registered user

LMFX HORRIBLE WIRE WITHDRAWAL

HORRIBLE EXPERIENCE WITH THIS BROKER. I WANTED TO WITHDRAW SOME MONEY LEFT IN MY ACCOUNT AFTER SOME LOSS INCCURED ON MY INITIAL INVESTMENT.

MY WITHDRAWAL TOOK ME ONE MONTH AND HALF, AND THEY KEPT RESPONDING TO ME THE SAME THING (BE PATIENT, THE DELAY IS STILL RELEVANT FOR A WIRE TRANNSFER, BLABLABLA).
AFTER ONE MONTH THEY RESPONDED TO MY EMAIL BY SAYING THAT, ONE OF THEIR COUNTERPARTY FINANCIAL SERVICE MADE A MISTAKE IN THE PROCESSING OF MY WITHDRAWAL, AFTER PROMISING ME THAT THE FUND WILL BE IN MY BANK ACCOUNT IN 3 WEEK.

NEVER AGAIN I WILL BE TRADING WITH LMFX AND ADVISE FOLKS TO DO SO
 
Reply by Maria LMFX submitted Sep 19, 2018:
Dear Rand! Winner,

Thank you for your feedback! Let me add some more details to your review.

As stated on our website and in the emails sent to you on several occasions, Wire Transfer withdrawals take up to 15 business days. This is an international transaction and it takes longer because different banking institutions such as intermediary banks are involved.

You were in a constant communication with our Back Office department and they replied to your emails in a timely manner giving you information about the status of your withdrawal.

Indeed there was a delay but we made sure that you get your withdrawal as fast as possible and we were working on improving wire transfer withdrawals in order to avoid any circumstances like this in the future.

We have never stated that “one of our counterparty financial service made a mistake in the processing of your withdrawal” and if you check one of your last emails sent to you by our Back Office you will notice the actual reason for the delay. Our colleague also notified you that the issue was addressed accordingly.

I’m also confident that you should have received your money shortly after your last communication with our Back Office. We kindly ask you to send them an email in case you are still having trouble with your withdrawal.

Thank you!
Sam,
Canada, Canada,
Sep 14, 2018,
Guest

When you add money into your lmfx account it takes a very short period of time, I was able to add in 500 USD that same day. I used a swift code option for this and had to pay the fees for this so when I emailed the back office asking if they are reimbursed they said no I have to pay them myself apparently only wore transfer fees are reimbursed.

I had uploaded all my ID documents and a bank account statement when I opened my account. When I decided to withdraw the money I put it because of general issues with usage of the platform, they kept giving me issues about uploading a specific bank account statement and pretty much gave me the run around where I would go to my bank ask for a statement only to upload it and have it rejected by lmfx and being sent back to get something else? Very unspecifc as to what documents they specifically require from my bank.

It took another 3 days for my withdrawal request to be approved. After i was told 2-15 business days for the wire transfer. Of course it has been over that time limit and I still have not received anything yet.

Contacting the back office is useless as they slap on the typical ‘we are experiencing issues with our bank, typically this does not happen’. When telling them about the 2-15 day policy apparently they do not have to abide by that or any other deadline for that matter.

Terrible platform, would not recommend it, stay away from them use any other broker. They tell you that it is slowly being improved upon yet this has been an ongoing issue.

The response to this from lmfx will also be incredibly cookie cutter and useless with claims that they are working around the clock to have the process done when it has gone past the allocated days mentioned and no compensation is given for this.
 
Reply by Maria LMFX submitted Sep 17, 2018:
Dear Sam,

Thank you for your feedback! Please allow me to disagree with your statement.

You used Vload to deposit your money thus why we cannot reimburse you for any fees because we are not the ones applying them onto you. Keep in mind that Vload is a third-party company and they have their own charges which we cannot reimburse or cover. You are right that Wire Transfer fees are reimbursed to your LMFXconnect account in case client deposits at least 250 USD.

Per our company policy we have to make sure that we are sending the money to the right bank account, thus why we had to make sure that the details that you provided us with and the details of your bank statement are the same and that the information is accurate. This is why there might be some delays during the process.

Indeed there was a delay but we made sure that you get your withdrawal as fast as possible which is also stated in the email that you received from our back office. We do work on improving our services all the time and we take all cases very seriously but keep in mind that there are certain processes that include different institutions and that there are procedures that take time to complete. We managed to find a solution which removes the delays on wire transfer withdrawals. The withdrawal that you requested was completed on our end and it should be already in your bank account. We kindly ask you to double check and contact our back office if you face any further issues.

Thank you!
CA, USA,
Sep 13, 2018,
Registered user

UPDATE, Withdrawal Recieved

Update from previous review:

I have received my funds today. LMFX customer support is by far one of the best I’ve worked with. They explained they were having issues with their bank and it was resolved. Both of my wire withdrawals are in my account ($100) & ($71.898). It took about a month for the whole process. I will wait until they improve their banking solutions before continuing with LMFX.

Aug 27, 2018 - 2 Stars I have begun trading with LMFX about a month ago. I made significant gains and began withdrawaing funds via wire transfer. My first wire ($100) is on it’s 14th working day and the 2nd wire ($71,889) is on it’s 11th working day. I have communicated with the BackOffice and I’m always reassured I will receive my funds however the wait is truly an incredibly long time. 2-15 working days for withdrawals is a huge time frame and I was just told by the BackOffice that it is likely to take longer than 15 working days. So far I am disappointed with the time. I will update my review upon receipt of my funds in my account.

Reply by Maria LMFX submitted Aug 29, 2018 Dear Porter,



We are very familiar with your case. Our backoffice department – the department, responsible for payments, has been in touch with you already as well. Any complaints regarding missing or undelivered funds are taken very seriously and we work hard to rectify them if confirmed.

This said, we would like to invite you to continue our bilateral communication so that we can ensure you can receive your funds in a timely matter.

Please note that while the delay you purport to have for the amount of 100$ has gone over the 15 business days we advertise on our site, the withdrawal for 71898.33$ is still within the time frame, listed on our site.

However, both withdrawals will be addressed accordingly nonetheless. The company is implementing new banking solutions which will ensure that none of these delays are repeated and the overall cost and satisfaction of the service is greatly improved.
 
Alexandra,
Miami, USA,
Sep 9, 2018,
Guest

This withdrawal process is amazingly horrible. I processed my initial withdrawal on 08/10/2018 the received a confirmation from LMFX on 08/15/2018 that it was completed and that it'll take 2-15 working days. 09/15/2018 was my 15th working day and it's now 09/09/2018 and still nothing. I emailed back office and they told me that delays are not uncommon. But that's just ridiculous if you give a time out you need to stick to it. Those so called unforeseen delays should've been included in the time frame. I've seen other reviews where people have waiting over 49 days. Thats sick. And all of their responses say you should receive it in about 2 days in these reviews. Go figure when you've already been waiting for weeks. Then they told me they can give me a SWIFT confirmation for the transfer but it'll take 4-5 working days,-NICE-something that should've been give to me LONG TIME AGO. Not to mention that LMFX doesn't always offer true market conditions but I'm not even going to get in that. LMFX give your so called precious clients their money in a timely fashion.
 
Reply by Maria LMFX submitted Sep 12, 2018:
Dear Alexandra,
We are sorry for the inconvenience which the delay has caused you. We understand your frustration.
The matter has been addressed and dealt with. I can assure you that our team is working around the clock to resolve the issue, but you need to understand that certain processes require more time and it doesn’t always depend on us.
We as a company and brokerage always strive to improve. We were in the process of implementing new payment solutions as necessary in order to improve the client's experience with us.
As of now we have received confirmation that all withdrawals have been dealt with and clients may expect to receive their funds in the upcoming days by the end of the business week.
If you need any further assistance or information, please do not hesitate to contact us.
Janneeka,
USA,
Sep 7, 2018,
Guest

Terrible broker! Orders are triggered before price hit. Unacceptable and will not be using again.
 
Reply by Maria LMFX submitted Sep 12, 2018:
Dear Janneeka
You have chosen not to provide us with any details regarding your complaint. However, we have managed to find you in our system and review your trading history.
We would also like to advise you that trading related complaints are handled via email only, as per company policy. Should you have contacted us, any agent of the company would have advised you so.
As we have double checked our systems and email in-boxes, we have not received any emails from your regarding your complaint.
Should you wish file a formal complaint regarding your trading activity, feel free to contact us at support@lmfx.com. Please provide us with any details regarding the matter and we will be glad to assist. Screenshots will also be greatly appreciated.

Lastly, 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.
If you need any further assistance or information, please do not hesitate to contact us.
USA,
Sep 6, 2018,
Registered user

49 Days and STILL waiting on my withdrawal!

My withdrawal request was processed in mid-July for a rather small amount of money so I figured it would come quickly. It's now September 6th and I STILL have not received my money. At this point I've been waiting 49 days for this.

I've been in communication with the backoffice, but the responses have not been very satisfactory. There is no clear answer about where the money actually is, but it seems to be floating in an abyss. It may reach me eventually, or simply return to them. When that happens, no one seems to know...That's very dissapointing. There's no sort of time frame on any of this.

Reading the other reviews this seems like a continuing trend with LMFX. Now I'm heavily reconsidering returning to trade with them in the future....mostly because the withdrawal process seems to be a big mess. Hoping to get my funds soon, but thinking they might actually be lost.
 
Reply by Maria LMFX submitted Sep 12, 2018:
Dear Jjr07f,
You have chosen not to provide us with any details regarding your complaint.
If you have contacted our Back Office department – the department, responsible for payments, they would have provided you with all the necessary information about your bank wire transfer. Any complaints regarding missing or undelivered funds are taken very seriously and we work hard to rectify them if confirmed.
It is very unfortunate that this issue has spoilt the otherwise good impression you had for our company.
I can also assure you that we have no interest in holding your withdrawal request for a prolonged period of time
As mentioned in the previous posts, all current delays are due to implementing new banking solutions. This is necessary for the sole reason of ensuring a more smooth and overall better withdrawal experience for our customers.
For any financial related issues, do not hesitate to contact our Back Office department via email: backoffice@lmfx.com
New York, NY, USA,
Aug 30, 2018,
Registered user

Withdrawal process is SLOW for anyone in the US - STAY AWAY

LMFX ID (42587)

I've been trading with LMFX since February of 2018. There MT4 Platform and customer service are excellent and I never had an issue with them on that end. However, one thing that is seriously disappointing with them is the withdrawal process!

In the first few months before the dreadful "wire transfer" process came, getting your money was not an issue. In fact, you would receive it within that same week that you requested it (via Debit/credit card). Over the course of the summer, LMFX changes the withdrawal process for US clients and the only way we can receive our funds is through wire transfer (which they assure you take up to 2 -15 business days). On July 31 I received a confirmation email that my withdrawal ($500 USD) has been completed and today is August 30th and I still have not received a dime of my money! I've been communicating back and forth with the back office department, and been getting the same run around that they are waiting for an "update" from there bank on the completion of my transfer. Ironically the last email they sent me was to reassure me that in the history of their brokerage this problem has never occurred, but after seeing other people reviews on this site it clear that LMFX has been doing this to other people.

Honestly, in the beginning, I was happily ready to recommend this broker to anyone here in the US, but after experiencing such an awful withdrawal process I would highly recommend anyone in the US to stay away from this broker until they resolve this issue completely.
  1 trader has found this review helpful
Reply by Maria LMFX submitted Sep 4, 2018:
Dear amcpherson94,

Thank you for your feedback!

I’m sorry that this issue has spoilt the good impression you had for our company. I can assure you that our team is working around the clock to resolve the issue but you need to understand that certain processes require more time and it doesn’t always depend on us.

Please understand that our card processor is a third party company which is not under the control of LMFX and is currently under maintenance but we are working on implementing new payment solutions.

I can also assure you that we have no interest in holding your withdrawal request for a prolonged period of time and these delays are caused only because the company is implementing new banking solutions which will ensure that none of these delays are repeated and the overall cost and satisfaction of the service is improved.

Please note that your withdrawal was submitted and processed on our end without any issues and it should reach you in a day or two.

We kindly ask you to contact our team in case you have any further questions!
Kai,
USA,
Aug 29, 2018,
Guest

Please do not waste your time with this broker I am going to tell everyone I can to not do business with them. I don't know where my money is but its been over a month since I requested a withdrawal via wire and I didn't even make money. I lost on a trade and decided to withdraw the the rest
Long story short its been over a month with no proof from their bank they sent out a wire to my bank. My branch manager Gave me the harsh reality first of all it was offshore second of all no reference number or proof of an outgoing wire into my account? Not gonna waste my time hut just take the loss also they ignoring my emails no point in hoping for my money back very disappointed
 
Reply by Maria LMFX submitted Sep 4, 2018:
Dear Kai,

Thank you for you feedback! Once again we apologize for the inconvenience that you experienced.

As mentioned in the previous posts, all current delays are due to implementing new banking solutions. This is necessary for the sole reason of ensuring a more smooth and overall better withdrawal experience for our customers.

I can assure you that your withdrawal was properly completed and sent on our end and it should be with you in a day or two.

For any financial related issues, do not hesitate to contact our backoffice department via email: backoffice@lmfx.com
Darren Burks,
Raleigh, USA,
Aug 28, 2018,
Guest

LMFX Decent- Withdrawals are slow

Hi, I have been trading with LMFX for an about 6 months. I am very pleased with the spreads they provide. The only problem I have is that i have withdrawn $3700 from them and still haven't received my funds and it has been over a month. As a US client trying to withdraw profits it is very frustrating that I feel like my funds have disappeared after I have talked to the back office a handful of times.

I have sent over ten of my friends to LMFX, but I am hesitant on telling people about it now due to the situation I am in. I understand delays, but I have no confirmation of where my funds are and that is scary for me.

On that note, I hope I get my funds soon as I don't want to switch brokers, but I might have to.
 
Reply by Maria LMFX submitted Aug 30, 2018:
Dear Darren Burks,

It is very unfortunate that this issue has spoilt the otherwise good impression you had for our company.
The two withdrawal requests you made with us (1,000$ and 2,700$) are being addressed and we will do everything possible so that you may receive them without any additional delays.
As I have mentioned in the previous post, all current delays are due to implementing new banking solutions. This is necessary for the sole reason of ensuring a more smooth and overall better withdrawal experience for our customers.
For any financial related issues, do not hesitate to contact our backoffice department via email: backoffice@lmfx.com
Jason,
Esqueta, Philippines,
Aug 24, 2018,
Guest

Pleased

I have joined LMFX recently with a live trading account started in March of this year. This review would be based on my actual experience of the broker first hand. opening an account has a good degree of security, documents and verification is done accordingly. The trading environment is neutral I mean MT4 is the same, response time is decent, one thing I like about them is the spreads especially on eurusd, most my trades are done on this pair its been quiet a ride for the past couple of week, noticeably in the last 3 days or so, I hope it did not hit the bears hard. The 1.13 mark was tested but bounced back after a long 4 week run for the bears. most my trades are swings and rarely do I scalp. Recently I was able to make a decent withdrawal after some success in buying this pair. This last withdrawal in particular was a little larger than usual and I did make a good profit and never the less I got my money through skrill with in two days or less which is always a sign of a paying broker. There are occasional maintenance which I don't mind since I take forex trading as a side line to my regular day job. I am giving them 4 stars keep 1 for future updates, I hope to see more from lmfx in the near future.
 
David,
MA, USA,
Aug 20, 2018,
Guest

No communication, untrustworthy broker with often times bad data

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

Please allow me to politely disagree with your above statements.

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

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

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

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

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

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

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

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

And lastly, I would like to state that the supposed conversation you provided can not be a transctipt that belongs to our company. Our employees, never enter a chat under the company's name, nor would any of our representatives give such vague answers. Thus, this transcript can not possibly be considered legitimate. If you happen to have a legitimate transcript, you may provide us with it, as well as the name of the representative that has participated in that particular conversation.
Soithern Africa, Lesotho,
Aug 16, 2018,
Registered user

I recommend this broker with less spread.

I have been with this broker since the year 2016. They are perfect! Yours is just to use the same account you deposited funds with when you do your withdrawals. Same day with Visa electron! And moneybookers.

Aug 9, 2018 - No Rating I have been using this broker for 3years now and I have a team of 32 traders. I also have MOU with this company as a partner. They are excellent! Withdrawals are fast through Skrill.

Apr 5, 2018 - No Rating I joined LMFX.com since the year 2016. There is no broker that offers its clients so much like those guys! I have been using their deposit match bonus and working with confidence under a very good leverage and spreads of 0.02 pips. They process payments within seconds when using Skrill account for transactions and few days in other methods of payments and deposits depending on how fast is your bank to process external deposits to your bank account. So far me and my eight teams of traders are prospering under this best offers,
 
MARYLAND, USA,
Jul 27, 2018,
Registered user

FMFX IS A SCAM

This company is a scam .. On the demo platform copy trading is allowed , but as soon as you open a live account they will block you from copy trading... I finally requested to return my money back ...these people will ask you some documents and refused to tell me that my bank statement is needed also and told me that my request has been received and it will take up to 10 business days to process the transfer... Guess what ? they waited for up to 2 weeks to send a new email that I must send my bank statement otherwise they will not send my money .. These people are just an other source of fraud .. Please stay away from these people otherwise your money will be stocked...
  1 trader has found this review helpful
Reply by Maria LMFX submitted Jul 30, 2018:
Please allow me to politely disagree with your above statements.

Copy trading is allowed on both in Demo and Live environments.

You claim you have experienced some kind of issue when attempting to set your software (trade copier) on your MT4 platform. Yet there are no complaints on that subject in our support (or any) inbox. We would have happily assisted with any issues you may have had, but, once again, you decided not to share your issues with us or request assistance. You could have done so at any point in time via our live chat, via email request or via phone conversation. We pride ourselves on our support services and the speed in which we handle requests. All in all, you left our helping hands tied by choosing not to share any information with us.

What you did decide to share with us is your unwillingness to go with our account verification procedure, which is required in order for you to gain access to deposit methods and perform withdrawals. I would like to remind you that this verification is mandatory and you are required to agree upon it when you register your account with us. So, surely, you must have known of these requirements. Bear in mind that these terms and conditions are readily available on our website at all times.

I would like to further state that each request for these documents was met with heavy resistance on your part. Despite numerous explanations why those documents were needed, you continued to dispute each and every one, claiming we were requesting those documents to, and I quote “make things hard for you”. That is most certainly not the case. Those documents are required as per international Anti-Money Laundering requirements and procedures.

I would also kindly remind you that the only reason why the withdrawal request lasted as long as it did, is due to your unwillingness to cooperate with us. Had you provided the documents the day they were requested, this delay could have been avoided.

I would also kindly remind you that those documents were requested several times, not once, as you claim. You were also contacted via phone numerous times by our representatives, due to the fact you were unresponsive in email communication. Those calls were met with foul language and screaming on your part, and that is well documented. While we always try to understand our customers and put ourselves in their shoes, your behavior towards our representatives was highly uncalled for.

All in all, we at LMFX never want to hold funds from our Clients for a prolonged period of time. To make verifications smoother, we encourage all of our clients to contact us and ask questions, should they have any. Assistance/information will not be denied. That being said, we can do very little with clients who do not wish to cooperate with us.

We have logs of your correspondence with us and we can readily provide them in order to prove our statements, should you desire.
Zach,
USA,
Jul 25, 2018,
Guest

Amazing customer service and low spreads

Website is a little buggy at times and spreads are not the lowest ive seen but they are definitly as close to 0 as you can get with spread based commission. Customer service is amazing and answers any questions almost immediatly. They are unregulated but because of the customer service i feel like i can trust them with my account for the upcoming years.
 
Kumar,
USA,
Jul 24, 2018,
Guest

I see in one of their reply in May 2018 that they were going extensive maintenance of zoompay and it will be resolved soon. Today is July 24th, still zoompay is not available! Did their staff who started maintenance left LMFX and left maintenance to be completed never?
 
Reply by Maria LMFX submitted Jul 26, 2018:
Dear Kumar,

Please understand that "Zoompay", our card processor, is a third party company which is not under the control of LMFX in no way, shape or form. We merely use their services in a way to facilitate payments via Debit/Credit cards. That said, the maintenance is on their end, not ours. While some clients would find the lack of this convenience troublesome, it impacts us even more. We do constantly evaluate new options, but we are only prepared to implement a new solution if it meets our high standards and only if we are confident that this is the right step for the company and our clients.
In the meantime, customers are encouraged to use the host of other options or site offers. US clients in particular may choose to deposit either through Bank wire or Vload.
Ahmed,
Los Angeles, USA,
Jul 23, 2018,
Guest

Too long maintenance..

I am sorry but what kind of maintenance is this that has taken almost more than 1 week? Scheduled maintenance is something that takes 12-24 hours, top 2 days.. It's been more than a week? What's happening? You're losing your credibility and trust.
 
Reply by Maria LMFX submitted Jul 23, 2018:
Dear Ahmed,

Thank you for your feedback!

We completely understand your frustration and we sincerely apologize for the inconvenience you experienced.

As stated below, the purpose of this maintenance is to improve the speed and quality of our services and we are doing our best to resolve any unintended consequences.
Unfortunately not all cases may be resolved immediately and some problems take time to get resolved. We can assure you that the whole team is absolutely dedicated to restore the whole process as soon as possible.

Thank you for your patience and understanding! We do appreciate it!
Jack,
London, United Kingdom,
Jul 17, 2018,
Guest

Bs

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

Thank you for your feedback!

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

Please allow me to politely disagree with you.

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

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

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

Regarding the questions that you contacted one of the members of our team about, let me say that they were obviously related to the maintenance process and I’m afraid you cannot expect that you will get a different response than the one announced on our website.
Najam Saeed,
Islamabad, Pakistan,
Jul 6, 2018,
Guest

I managed to get my another withdrawal two days ago, the whole process took around 24 - 36 hours through my wallet service (still), most my withdrawals take the same time on average, well most my online trading are done through these services, lmfx is offering a good set of services, noticeably the good spreads and well I would say stability and execution is good too, all within expectations anyhow. Scalping is done easily and the same goes for swing which many would find suitable. I would like to see more expansion in the upcoming months, maybe more assets to trade and more options for withdrawals but I have no complains. My total live trading is about nine months premium account.
 
Annapolis, USA,
Jun 12, 2018,
Registered user

Good broker

I joined this broker 3 months before and as a new trader this is my first Broker who I work with. Withdraw and deposit is very easy. My first withdraw was 100$ by wire transfer which took 6 days. customer care is very very helpful.
 
mohammed,
canada, Canada,
May 31, 2018,
Guest

scammers

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

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

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


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

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

We would also like to state that despite the claims made here, you continue to deposit funds, trade with us and use our services on a regular basis, which, if anything, proves the inadequacy of this review. We would be grateful if you correct it, so that it reflects the truth, as is proper.
John,
New Jersey, USA,
May 18, 2018,
Guest

Withdrawal and Deposit concerns.

I've been with LMFX since November. Their deposits enter the system and your LMFX wallet extremely quick!!! I just hope that the zoompay/debit card/credit card comes back soon! And when it does, deposit and withdrawal via zoompay. I withdrawal with my debit card, when the option was available, and it hit my bank within 2 days. I'm VERY skeptical on the wire transfer method via deposit/withdrawal. I've heard from many friends that they've screwed up the withdrawal process via wire transfer. Let's hope they keep on improving!!!
  1 trader has found this review helpful
Abdul Basit,
Rawalpindi, Pakistan,
May 16, 2018,
Guest

Last six months consecutive trading experience approximately and everything seems to be working fine

I had opened account last December and it's been pleasure trading with lmfx broker's trading platform. The trading is smooth and easy to execute trades.

Spreads plus leverage combo is also acceptable which can yield higher profits even if used for scalping.

Documents which they required were easy to provide. The withdrawal process will not work until ID account is verified. I made few withdrawals so far and they were always on time.
 
Calvon,
Texas, USA,
May 15, 2018,
Guest

Honest LMFX Review

Acct#25996
LMFX isn’t a bad broker. They have their pros and cons like every other broker out there. Deposits are extremely quick but withdrawals are EXTREMELY slow. Before they removed the credit/debit card withdrawal option, withdrawals took anywhere between 3-5 days. So if you withdrew funds at the beginning of the week, your funds were sure to hit your bank account by the end of the week. The wire transfer withdrawal is a completely different ball game. Takes FOREVER. I made a withdrawal via wire transfer sometime in April, my withdrawal was processed and approved on May 2nd. Today is the May 15th and I’m still waiting(as “they say” 2-15 “business days”). But whatever, I just don’t understand how LMFX so readily accepts our deposit but are SO SLOW with our withdrawals. Just seems a little one sided if you ask me. I still trade with them because at least they don’t downright steal your money. So yea, that’s my honest review of LMFX.
 
Reply by Maria LMFX submitted May 17, 2018:
Dear Calvon,

Firstly, we would like to thank you for your honest review of our Brokerage and services. Such reviews always lead to improvements.

That being said, I would like to discuss the Wire Transfer withdrawal timers with you (and our customers reading this forum), so that you are informed and to explain the situation in detail.

We do understand the frustration and concern in regards to the „fifteen business days“ time frame on withdrawals. This is not due to our Brokerage firm, however, but due to a variety of factors – mainly the withdrawal amount and the processing time of the intermediaries. By all means, this is not a direct transfer.
Also keep in mind that during that period, the banks which took part in the transaction itself had holidays, which also affected the processing time.
I would also like to add that we have not removed the card option for funding. We are simply under extensive maintenance which is expected to end very soon.

Trust us when we say that we are looking for improvements on a daily basis. The Wire Transfer service will gradually improve, over time.

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.