LMFX Review

3.307 · 123 REVIEWS
Updated: Sep 17, 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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3.307 · 123 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

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.
 

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.