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

US, USA,
May 12, 2018,
Registered user

STAY AWAY

MAY 1ST wire transfer started . Received Transaction Completed Email but NO WIRE TRANSFER TRANSACTION NUMBER. THEY CLAIMED THE BANK THEY USED TO COMPLETE THE TRANSFER TAKES 3 -4 DAYS TO PROVIDE THE TRANSACTION NUMBER. Never received it OR MY MONEY. ITS MAY 11. I DONT EXPECT IT EITHER. SO GLAD IT WAS A SMALL AMOUNT.
 
Reply by Maria LMFX submitted May 14, 2018:
Dear Mardun,

Allow me to disagree.

Yes, your Wire Transfer withdrawal was processed from our end on the 1st of May and our backoffice department did in fact inform you regarding this matter accordingly.

I would like to remind you: the website clearly states that withdrawals via Wire Transfer take between two and fifteen business days. The Back Office department also informed you of this in their confirmation email. From that point, you requested the Wire Transfer transaction number on 08.05.2018 (you conveniently failed to mention when you requested the Wire Transfer transaction number), despite the fact that you were, and still are, for that matter, within the „fifteen business days“ time frame. We agreed and informed you that it would take three to four business days to retreive the information you requested from the bank. Despite that, not three business days later, you wrote a negative FPA review without allowing us the chance to get back to you with the requested information.

As it stands, your statement on this public forum is untrue and it was posted in spite of our willingness to cooperate with you. We will still be providing you with information and services as quickly and as professionally as possible, but we ask you to collaborate with us in return. We would also like to remind you that we have detailed logs of our communication with you and will readily provide them to back up everything we have stated in this reply.

Please note that a „business day“ is considered every official work day of the week (excluding holidays and weekends). Another common term would be „work day“.

Given the above statements, we kindly ask that you correct this review as soon as you receive your funds in order to cease and desist any defamatory statements, as well as the preserve our good client-company relations.
Trung Tin,
Can Tho, Viet Nam,
May 4, 2018,
Guest

Good forex broker

I opened live account with this broker 2 years ago ( 2016), there were some struggles with my verification process, I didn't have a utility bill at that time and had to asked cable company for a copy so it took 2 weeks to complete the process, but on a positive note i think its a proper security measure. Fast execution and tight spread with major pairs. Good support with Live chat on-site. Withdraw request is processed in 24 hours (request today afternoon and get fund next day at lunch). LMFX is quite reliable to trade. highly Recommended.
 
USA,
Apr 7, 2018,
Registered user

Great Company

This is an amazing broker, i withdraw on Friday's and receive my withdraw by Tuesday(due to the weekend) they have great customer support and reply almost immediately, I see here people leaving awful comments about the company because they obviously do not understand the concept of investing and trading the forex market or do not have patience either way I have been a client at LMFX since 2016 and have never had any issues, I highly recommend this broker. -Joseph Smilie
 
Moscow, Russian Federation,
Apr 5, 2018,
Registered user

Withdrawal of funds (via Wire Transfer) takes took long, but good broker in general.

Finally receive my funds today (3 April 2017). Oh boy, that was one long nerve-wracking anticipation, but at least money really reached my bank account. Therefore… I reckon, that'd be fair to change my review rating. As it was mentioned before, LMFX (in my opinion) actually has nice service and trading conditions, although 1-month anticipation for withdrawal (via Wire Transfer) is still too much...

Mar 30, 2018 - 1 Star I'll try to make it short.

02 March 2018: LMFX confirmed (by email), that my withdrawal request has been proceeded and my funds (2000 USD) have been sent (via wire transfer) to my bank account.

30 March 2018: Almost one month passed (20 working days). No incoming transactions from LMFX so far. I'm still waiting for my money like Hachiko.

Epilogue: LMFX support says they've sent money. My bank says they haven't received money. Money just went and vanished somewhere like ninja.

Seems like representative of LMFX takes into consideration, what people post here. Seems like some FPA members and guests (with same issues) who left a review here, got their money back afterwards. Maybe this will help me get mine too... that would be wonderful.

Overall, LMFX actually has nice service and trading conditions, but I think it doesn't really matter much, if you can't get your funds back.

I'll keep you updated.

My LMFXconnect ID - 30542.
 
USA,
Mar 29, 2018,
Registered user

Stay AWAY. LMFX will STEAL YOUR MONEY

LMFX is borderline, if not, CRIMINAL.

Firstly, to get an idea of the type of broker you're dealing with, take a look at their responses to all these negative reviews. Its a constant "Nothing is our fault" attitude, even after repeated, separate complaints. Even when Maria (LMFX Rep) has no idea who the client is or what the review is involving, she claims that its the clients fault because her "excellent customer support is never wrong".

LMFX downright stole the money out of my account. I trade using MT4, the MT4 that their website provides a link to and that they have smeared their logo all over (which they deny having anything to do with). When I signed up for an account, they offered a deposit matched bonus, so I accepted. I read through the terms of the bonus, where it says that the bonus is meant to used for trading, but cannot be withdrawn or lost, fine. Everything worked ok at first. They're servers are EXTREMELY slow, but I dealt with it. This week I set up multiple large trades, but kept a close eye on my margin levels and calculated my trades to remain above LMFX's 20% margin close-out level. MT4 makes it extremely easy to track your margin automatically, and thats what I relied on. During the trade, prices dipped briefly and then recovered, all the while my account stayed above the required margin % and well above where I set my SL's. The prices ended up hitting my targeted TP's for a very healthy, 50% overall profit. But lo-and-behold, when I checked my account, I had a $0 balance. Apparently when the prices dipped LMFX emptied my entire account balance. When I sent them an email asking what had happened, Maria responded, saying that I had hit the 20% margin, the trades were closed out and that they decided to confiscate the bonus they had offered. I responded that my account never hit 20% margin, I never received a margin call, and my account actually stayed well above 20% margin. I then received a response from some other rep who said that the trades were actually closed out because I had accepted their bonus offer, so they calculated the margin levels based on their own personal whims rather than the numbers that MT4 calculates, or the numbers that LMFX's website show. So the entire time I was trading in MT4, I was watching Balance, Equity, Free Margin, and Margin %'s that were all completely different than what LMFX bases there policies on. The same MT4 that they smeared their logo all over, has unreliable numbers. I've emailed them telling them that providing margin numbers that LMFX has no intention of adhering to is unacceptable, but surprise surprise, I've received no response. Stay far away from these guys. They'll steal your money at the first chance they see.

Now, let me put my fortune telling cap on: Maria will come on here, claim she doesn't know anything about this because I wont post my account information on a public forum and then proceed to call me a liar and deny that they are anything but honest and upstanding brokers.

Seriously, there are much better brokers out there.
 
Reply by Maria LMFX submitted Apr 2, 2018:
Dear R3dk1ngs,

Please allow me to politely disagree.
First of all, while such public platforms as FPA do not provide us much information to start with, and despite the fact that a number of the complaints do not contain client IDs, we still diligently review each and every case individually and address it as such.
As you have also not provided any client number, we have managed to identify you in our system and I will begin addressing your complaints one by one.

1. LMFX does not steal money from its clients. As an STP/ECN broker, we provide a convenient service that traders may use to access FOREX trading. Our NDD model ensures that we have no interest in dissatisfied clients since we profit from traded volume and not net deposits.

2. The MT4 platform is provided by the Metaquotes company for your own convenience as this is, by far, the most popular trading platform, which brings stability, familiarity and connectivity to different types of 3rd party services and add-ons, which have been built by the trading community over the years. Like most brokers, we are allowed to use our own logos and trademarks with said platform, under a lease from the developers.

2.1 I would kindly ask you to state during which periods and trading which currencies or instruments did our MT4 platform perform slowly? We pride ourselves with a very quick and accurate execution, which can be proven by the large size of clients who entrust their trading funds with us on a daily basis.

3. Regarding your main complaint, I will restate again everything that I, as well as a few of my colleagues, have told you via email already.
As you personally stated, you chose to use our deposit match bonus. This action has to be consciously done as you have to manually select said 100% bonus during your live account opening process and you specifically need to agree to the Terms and Conditions that are also readily included in that page. The bonus itself is very straightforward, but you need to pay attention to a few important points: The bonus funds are immediately added to your account when you deposit funds into it as extra leverage for your trades, but the bonus funds themselves cannot be lost in trading. In other words, if the equity of your own account goes below the match bonus, the bonus is removed automatically by the system and we may not be liable for the consequences of this removal, including any stop outs. Furthermore, in the case of selecting the 100% Credit Bonus there is no margin call alert.
I feel that I need to restate what the bonus is for and is not for: the bonus is for leveraging your account and it allows you to trade more that you would normally be able to with your own funds. The bonus, however, does not provide additional equity and it will not maintain your open positions without additional funds.

Lastly, I would like to state publicly that we have replied to each and every one of your emails, despite the fact that a lot of your messages contain profanity.
You are right about one thing, I am replying to this message right now because communication and honesty are what our company is founded on.
Nguyen Tuan Anh,
Ho Chi Minh, Viet Nam,
Mar 26, 2018,
Guest

Fast payment and multiple account type to choose

I have tried several forex brokers before coming to this broker and I had a pretty good experience with LMFX, the account verification process is quite prompt and withdrawal within 24 hours. I used CC + Skrill for deposit and withdrawal, all are processed within day with notification email. There are 3 account options for you to choose from, they are variable, fixed and zero spreads. No crypto but their spread of major pairs are quite tight (<1.5 EUR/USD). I highly recommend this broker!
 
Nebraska, USA,
Mar 6, 2018,
Registered user

One of the best brokers

I have been with LMFX for about 6 months and they are top notch. If I call the US 800# I get a quick response and helpful service. Withdrawals are easy to do within the connect account on-line once you know how to do (a customer service person walked me through the process). I get good fills even in times of fast moving markets. My connect account # is 32501
 
Rochester, USA,
Mar 3, 2018,
Registered user

Lack of assistance and No IRS information provided.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

- You and our Customer are affiliated in any way.

- That the funds he deposited belong to you.

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

We would, once again, ask that you provide accurate and truthful information that is based on facts, not mere speculation. We stand behind our policies and words.
U.S, USA,
Feb 21, 2018,
Registered user

Great broker

I've been trading with this broker for quite some time over 1 year. I never had any issues with executing orders... withdrawal.... depositing. They've been great so far... If I ask them or have any questions they get back with me quickly...
Thank you LMFX for your services I hope you guys become part of other regulatory authorities and also would like to see if you guys would create Money manager systems to manage accounts for client in future...
 
Jean Lazaro,
Muntinlupa, Philippines,
Feb 19, 2018,
Guest

4/5

The best way to actually know is simply to try it your self, that's something i learned from trading forex for 7 years with different brokers, just to clarify, main method of withdrawal was always skrill or any other third part due to bank restrictions mainly from country of origin (in this case here in asia) with that out of the way, here is my actual experience with this broker (Lmfx) I started back in Aug 2016 wheh i first tested the broker by simply depositing a small amount to test the over environment and as many have mentioned this broker do offer a very good competitive spread well suited for scalpers, the process of opening the actual account was not that complicated, clear the verification before depositing anything (rule of thumb), platform stability and execution i would say its pretty fair, on a positive note its a lot more stable compared to the early years that's a plus. withdrawals are good, its true through skrill i have not encountered any delays and usually done and processed with in 48 hours, however (and this applies to other brokers as well) wire transfer is pretty much noticeable to take longer, in which case its the same for most brokers as well. banks in my opinion are complicated but that's simply me. over all lmfx gets the job done and can easily be classified as legit. a couple of things i would like to see from them is hopefully a separate card system for withdrawals under the name of lmfx and maybe an addition to crypto currency trading somewhere in the future, its the new trend as we all know. but aside from that this broker gets a 4/5.
 
Fayetteville, NC, USA,
Feb 16, 2018,
Registered user

Ok so I want to give an update of my review I received my withdrawal on the 12th day I’m leaving my rating at 2 stars because of the amount of wait of withdrawals



Feb 15, 2018 - 2 Stars Currently on 11th day of wire transfer withdrawal lol these guys are a joke I do not know why I went back to them after what happened to me last time I have never had to wait for withdrawals for this long I will give it 4 more days until I give my final review since their site says 2-15 days for wire transfer but my gut is telling me I will have to wait even longer anyone new to trading and has found this broker I would stay the heck away from these guys especially if you have responsibilities to take care of these guys take a month for wire transfer. And what makes it sad is not one of their representatives has responded to my review yet which is a red flag

Feb 8, 2018 - 2 Stars Once again problem with withdrawal how come a wire transfer took 5 days to complete last time I got one but now I’m on my 6th day and still nothing. I know the site states 2-15 days but waiting that long for a wire transfer is unheard of and by the way my connectID is 20370 and how come my deposit withdrawals came like clockwork within 3 days like it should? This is my second time with an issue with these guys may just leave them altogether giving 2 stars because they offer very low spreads but their withdrawal system sucks

Jul 24, 2017 - 3 Stars I want to revise my review I posted about LMFX I did end up receiving my payments the backoffice had to send the money owed through wire transfer because of some issue with EZPay but since I still had to wait 2 months for my payments I was owed I'm giving 3 stars and only because I received my payments. I will continue doing business because they are a great company that offer competitive spreads with great customer service.

Jul 5, 2017 - 2 Stars Since I'm skeptical of reviews I'm here to tell everyone I'm a real trader account number 19526 I requested a withdrawal for $800 June 1st,2017 on June 9th I received only $400 today its July 4, 2017 and am still waiting on the other half to get to me This waiting time exceeds the waiting time for withdrawals which on their site states 2-15 business days and way past that deadline in fact its going on 24 days. They blame it on the card processor and they too have yet to contact me back. I also withdrew $500 on June 16 and am still waiting on that to go through as well this Friday July 7th will make 15 days waiting on that withdrawal for now I'm giving them 2 stars because I love the spread and customer service but until the resolve my withdrawal problems I have to leave them at 2 stars

Reply by Maria LMFX submitted Feb 16, 2018 Dear CLIENT'S FAMILY NAME REMOVED, - FPA Review Moderation Team Note:
Posting private client information this way is unethical and may also be illegal.



We are sorry that you feel unsatisfied with the time it takes for the funds to be transferred.



Please keep in mind that in your particular case, the transaction is a transcontinental one, which requires the use of intermediary services. In the current case, those would be intermediary banks. Each bank involved has a mandatory processing time for each monetary transfer and strict financial policies, which, unfortunately, we have no control over. We process withdrawals on our end within three business days.



Which is exactly why we are in constant search of new bank services to reduce the number of intermediaries, which would lead to shorter processing time. We are sorry that you have experienced these issues, but trust us when we say that we are doing our best to improve our services.



As you may see in the corrected reviews below, even in the unlikely event that there are delays, we always find ways to send the funds anew using alternative, fast and reliable methods, all of which are at our own expenses. Regardless of the issues or circumstances, our clients always receive their funds.

In summary, the lengthy processing time you are experiencing is not due to our "withdrawal system". We would highly appreciate that you correct that statement, as it is misleading to the community.
 
USA,
Feb 9, 2018,
Registered user

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

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

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



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

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

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

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

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



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



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

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

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

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

Your account has already been approved. You were informed by our Back Office department regarding the matter. Do note this is not the first time we make special exceptions for you – we have allowed you to exceed the maximum account limit, just so you are satisfied as a trader. Should you wish to cease your account with us, do contact us and we will gladly instruct you how to properly submit a withdrawal request.
Mike,
St. Louis, USA,
Jan 30, 2018,
Guest

Dealing with LMFX.com was a nightmare!

Unfortunately I recently had a bad experience with LMFX.com and would not recommend them to anyone. For starters you have to actually open 2 accounts. One to register with them and the other to trade live with them. I did not understand this but I went with the program.

After being put through a lot of trouble with them to fund the account and finally being able to trade, their Mac trading platform did not work. Their excuse? Oh it's not our fault, I need to call Apple. Mind you this is their software that they are giving to the clients to use not Apple's. After trying unsuccessfully to get their software to work I gave up and decided to move on after long and pointless chats with their customer service.

I should not have had any problems with their software. I should have just been able to log unto the platform and trade. Furthermore, why would a company that knows their software has issues keep it out there?

I found their customer service to be rude and arrogant. I just could not understand why they kept insisting that even though their software had issues it was Apple's fault that they had it out for there clients to use? It was a pain dealing with these people and sadly for my trouble I did not even get to make 1 trade lol. There are other options out there to trade fx. Use them.
 
Reply by Maria LMFX submitted Feb 1, 2018:
Let me first say that even though you did not provide your LMFXconnect ID and chose to stay anonymous, we know who you are. We investigated your review and are positive that almost every single statement in it is utterly wrong and untruthful.

First of all, you do not seem to understand how your account with us actually works. When you register with us you receive login credentials for your LMFXconnect account and can use them to log into your own personalized Client's Area on the website. From your Client's Area your are able to manage your funds, as well as your Live and Demo accounts. Under your profile you can have up to 5 Live and 3 Demo accounts and each can have their own specifications, as well as their own unique ID and password. The system is quite simple and intuitive and the vast majority of our clients are able to use it without any need of explanations or assistance. Still, if you were unable to grasp how the website works, you could have always contacted our support team and we would have been able to assist you.

As far as the MT4 platform for MAC is concerned, you appear to be under the false impression that the software was developed by us. A simple Google search would have been enough for you to find out that Meta Trader 4 was developed by a company called Meta Quotes and this software is used by a very large percentage of Forex Brokers. This is not “our” software and we as a broker merely provide it to our clients.

Keep in mind that Apple products are notorious for having difficulties running third party software. Even so, the matter is usually easily fixed and my colleagues would have provided you with a simple guide on what you need to do. In the vast majority of cases everything you need to do to run MT4 on MAC is to run the program as a Root User. It is very simple and anyone can do it if they just follow the instructions step by step. Apparently, you failed to do so.

The reason why you were still having difficulties was either because you were lacking the basic skills and competence needed to use your device, or that there was a problem with your computer. For your sake we will assume that this is the latter. In that case my colleagues correctly directed you to contact Apple's customer support to see what exactly the issue with your device was. My colleagues were neither rude nor arrogant, and did everything in their power to assist you, in spite of your efforts to hamper them. We have logs of your correspondence with us and if you choose to identify yourself we can readily provide them in order to prove our case.

To summarize, my colleagues provided you with possible solutions to your issue and you refused to follow their advice and proceeded to blame us because of your own refusal or inability to follow basic instructions. Not only that, but you chose to spread untruthful information about us in a transparent attempt to sully our reputation. I believe the facts stated here are enough to disprove your false statements.
We stay at your disposal should you have any further questions! Thank you!
Danh Nguyen,
Can Tho, Viet Nam,
Jan 25, 2018,
Guest

Fast payment and good support broker

I have a Premium account with this broker from 2016. LMFX has some advantages comparing with my old brokers:
- The minimum lot size was 0.01 while others require 0.1 lot
- TP/SL levels is only 3 pips
- Rapid payment with Skrill or Neteller processor.
- Spreads are quite good with majors but exotic as USD/HKD, USD/SGD are only acceptable
- Their wallet system is ok, you can withdraw a portion of your fund without affecting your opening opsition

One thing i expect from them is to integrate MT5 which is the latest version of MT4 however it is acceptable if they doesn't add MT5 coz MT4 is really user friendly.

Want to rate 4 stars but the Customer support was very helpful so I give them 5 stars.
 
Irfan kashmiri,
Kashmir, AJK, Pakistan,
Jan 25, 2018,
Guest

Good broker!

5 years i have traded forex with different brokers coming and going, lmfx is a decent one, i have one live account which i trading for more than an year now and nothing is out of usual. Spreads are very competitive and trading execution is good plus stable too. The platform is also stable compared to other same age bracket brokers. Though the time have changed but the trading is the same. Many traders think that trading is a walk in tye park. Honestly i can safely rate this broker 5 stars for getting my job done on time. I hope they continue to strive and perform hopefully for the better.
 
mario,
vancouver, Canada,
Jan 24, 2018,
Guest

DO NOT EVER TRADE WITH THIS BROKER, It takes two months your withdraw get approve , they do not send portion of your money as well, waste of time
 
Reply by Maria LMFX submitted Jan 26, 2018:
You chose not to include your LMFXconnect ID or any additional information. Regardless, I would like to disprove any of those statements as completely false and misleading.

Here's why: we process withrawals on our end the same business day or the next business day for most cases, depending solely on the time of withdrawal initiation. So that couldn't possibly be the case.

Perhaps you are unhappy that a withdrawal was cancelled? Or, perhaps, this is regarding the account approval process (which is required to make a withdrawal)? We wouldn't know. You never provided any specifics.

Dare I remind you that we, as a company, take security matters very seriously. Like every company, we have certain security procedures that can not be overlooked or skipped. Those procedures take time, and that is normal. The waiting time for those is absolutely mandatory, as stated in the Account Opening Agreement, which every single LMFX client must accept before opening an account with our brokerage.

Perhaps you are unhappy that you did not receive a „portion of your money“ for the mandatory time limits set by our Brokerage noted in the Account Opening Agreement or due to the probable delays caused by a client (you) not following company procedure? We do not offer that kind of reimbursement, especially on grounds of failing to comply with company procedure and rules.

Even if, supposedly, we purposly delayed the withdrawal more than three business days (the given maximum as per the Account Opening Agreement), we would face severe sactions by the financial organizations.

In short, the only possible reason for your supposed three month withdrawal delay would be not complying with the company withdrawal policies, which are, once again, stated in the Account Opening Agreement, agreed upon by you – the Client.

We, as a company, stand firmly behind what is stated above and will readily provide any data relevant to your case to dispute your fraudulant claims with utmost haste, should you choose to identify yourself in front of the FPA community.
US, USA,
Jan 13, 2018,
Registered user

I am with LMFX for the last few months. Overall their service is Good, but the customer service is not good. When I call them, the response is quick, but I felt really bad, due to RUDE attitude. It appears they don't have any patients. When I ask them questions, they replies to check with online support or to read rules online. That is not the real customer support at least for the people from US used to. Its hard to establish a Good personal connection with customer service. Feels like going into a good grocery store get best products pay for a rude cashier!! Hope the management will retrain customer service agents to become more friendly with their clients.
 
Reply by Maria LMFX submitted Jan 17, 2018:
Let me assure you that we handle client feedback very seriously. If you can, could you specify exactly how our support team was rude to you? Keep in mind that we keep logs of out correspondence with our clients and can provide them if you so wish.

Keep in mind that we highly value clarity in communication. If a Support Agent deemed that the information you requested was too lengthy to explain via Phone, they would have directed you to check the website and would have guided you on where you can find the information. If you wanted to make a specific request regarding your account, it is simply company policy to handle all such requests via email to avoid any misunderstandings and to ensure that they are dealt with as quickly and efficiently as possible.

You have chosen not to include your name or account number, but I am confident that all of your queries and/or requests were answered in a prompt and concise manner. As I stated before, we value efficiency and try to offer the best solution to our clients. Sometimes this involves directing them on where they can find the information they seek or referring them to a different department that can better assist them. You are free to disagree with the way we handle such matters, but the fact is that there has never been a case where a client has followed our instructions and has not received the information or assistance they requested.
Chicago, Illinois, USA,
Jan 13, 2018,
Registered user

$6K loss from failure to execute order

I opened an account with LMFX on 1/2/2018, account 46237 if that helps anyone confirm my review. I have been trading currencies for some time and have other accounts with larger firms as well as one large firm in Canada.

After opening my account I proceeded to make sure all of my information was confirmed and uploaded all needed documents to make sure to avoid any issues with wire transfers. I then proceeded to make a wire transfer to fund my account for $10,000 which is a nice amount to start with, I was also planning to make another wire for the same amount to help keep my overall account equity above needed minimums.

So the wire transfer went through and I received the confirmation on 1/11/18. So I began trading and at first was fairly happy with the results, I made a nice tidy profit within the first couple trades and all was going great.

Until I placed an order for EURJPY on the short side, all was going well up until I tried to close the order. After trying multiple times to press the close order button as well as other methods to close out the order I was unsuccessful. I did almost everything in my power to try to close the order but the darn order wouldn't go through. I even placed other orders in the same pair to try to see if it was a constant problem, but all other orders executed and closed without a problem.

fast forward 2 1/2 hours and I was finally able to close the order, the only problem is that the had gone from being a break even trade to a $6k loss. So I am left with nearly half of my original deposit wiped due to a single issue with the broker.

I reached out to support and this is the email they responded with,

"Thank you for your request.

We investigated your case and everything appears to be OK with the execution of your trade. Keep in mind that you were trading very large volumes in a period of very low liquidity. You were trading EURJPY during a time when neither EUR nor JPY were in session and you were trading very large volumes. It is likely that there wasn't enough liquidity to fill your orders.

Keep in mind that LMFX is a No Dealing Desk broker. This means that trades our clients make are sent directly to the market without any intervention on our end. Thus, we cannot take any responsibility for the conditions of the market and the effect that adverse trading conditions may have on our clients' open trades.

In conclusion, we have determined that the situation that you are describing is due to the extremely low liquidity at the time and the large volume of the trades you were trying to close."

While I understand their explanation, it seems like a long stretch to say that selling only 25 lots near the end of premarket hours could not execute due to liquidity. Also keep in mind I made a few other trades while this "liquidity" issue was going on for the same amount of lots (25 lots each) without a single issue.

To be honest I was really looking forward to dealing with this broker and also requested to have another $10K - $20K wire sent over after a few weeks of trading.
Unfortunately with orders that do not allow me to exit a trade I cannot stay with a broker that allows that to happen to their clients. I tried my best to hopefully come to an agreement with LMFX to remedy the situation but unfortunately as stated in the email I was unsuccessful in doing so.

While I do not wish to bad mouth any broker, my best advice would be to avoid any broker that allows something as blatant and drastic as this to happen to their clientele.
 
Reply by Maria LMFX submitted Jan 17, 2018:
We are sorry for your losses, but as stated in the message that my colleague sent you, they are not due to something that we as a broker did or did not do. The matter of fact is that you were trying to trade large volumes of currency (25 lots is considered quite large a volume by most standards) at a time when the liquidity was at its absolute lowest- between the New York and Sidney sessions. We at LMFX are a No Dealing Desk broker. This means that any trade our clients make are sent directly to the marker for execution without any interference on our end. You had other trades indeed, but all of them were opened during market hours when the Tokyo session was open, providing enough liquidity for your JPY trades.

To summarize, you were trying to scalp with large volumes during unfavorable market conditions and suffered losses as a result of your trading activity. While we sympathize with the situation, we as a broker cannot take any responsibility for your choices as a trader.
USA,
Jan 6, 2018,
Registered user

I been with trading for LMFX for a few months now and haven't had much problems with the platform or trade execution , but I did experience some level rudeness from customer service which made me want to stop dealing with LMFX, but continue to trade because of the leverage.

I decided to stop trading with this company due to recent complaints about the long withdraw times and a few traders complaining about not receiving there funds within the time specified.

Nov 17, 2017 - 4 Stars I been trading with LMFX for about month or two and for the most part, things have been good. I do have a problem with their customer service... It sucks! They do absolutely nothing besides tell you to e-mail support.

I'm giving them 4 stars for the products/platform.

 
Reply by Maria LMFX submitted Jan 9, 2018:
Let me assure you that we handle client feedback very seriously. If you can, could you specify exactly how our support team was rude to you? Keep in mind that we keep logs of out correspondence with our clients and can provide them if you so wish.

Keep in mind that our Live Chat and Phone support team is meant to answer client queries regarding the broker and assist them in matters that can be quickly resolved. If they deemed that your case was beyond their authority or control, they would have indeed advised you to send an email. This allows our other colleagues would be able to examine the case in detail and take the necessary actions in order to assist you.

We pride ourselves on our quick response times. We strive to answer all queries via email within 24 hours at the latest, with our average response time being about 1-2 hours, depending on the case. If you provide us with your LMFXconnect ID we will be able to tell you exactly how long it took us to send you a reply. We believe the results will speak for themselves.
USA,
Jan 5, 2018,
Registered user

LMFX rocks!

I made my first withdrawal request on LMFX 2 days ago. I gotta admit, I was worried and scared. I just gave them the benefit of doubt and crossed my fingers. Yesterday, I got an email that my withdrawal request has been processed and that my account will be credited within 2 to 10 working days. But barely 12 hours later, I checked my account balance and saw my money right there looking at me. Nothing gives more joy than trading and getting profit and withdrawing the profits and actually getting the money.
LMFX is for real. I can now say that confidently. Now, I can relax and trade. They should keep this quality of service up and they'll go places. Peace out!!
 
rick,
chicago, USA,
Dec 26, 2017,
Guest

hey guys. i live in the U.S. and deal with their nanny-state regulations. this is why i was drawn to lmfx. i have been trading live with them since june 18th and so far everything has been perfect.

the account set-up was easy, my wire transfer deposit was smooth, and the trading has been excellent- in that my account balance reflects my skill or lack of on a trade-by-trade basis. no issues out of my control.

the customer service has been prompt, polite, and professional.

the only thing that i haven't done yet is withdraw money; so i can't comment on that experience. time will tell. i actually did, however, live chat with them about some of the withdrawal issues posted here, and the representative did put my mind at ease. but again, i'll know first-hand someday.

in summary, i love these guys. so far it's been great. i just wanted to post that because it may be helpful to somebody on the fence choosing lmfx or not to hear comments other than people complaining. i hope to deposit more money soon and trade heavier volume
 
USA,
Dec 22, 2017,
Registered user

I tested the withdrawal process after 2 months by removing $100. After, I could no longer use my card to fund my account. I contacted customer service

DO NOT OPEN AN ACCOUNT WITH THIS BROKER. This company has very poor customer service.
 
Reply by Maria LMFX submitted Dec 28, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

We are aware of your case and we would very much like to disagree with your evaluation.

Here are the facts regarding your case:

You made a deposit with us, but ended up withdrawing all of your funds after a short period of time, having barely traded anything. We as a broker are generous enough to reimburse any fees for deposits via Visa/Mastercard that originate on our end and such behaviour is damaging to the company. To prevent such an occurrence in the future and to safeguard our own interests, a limitation was placed on your account, restricting your access to deposits via credit/debit cards.

You contacted us on chat regarding the matter and a Support agent answered in a matter of seconds. My colleague tried to explain the situation to you and was about to advise you that a simple request would be enough to lift this restriction, but your behaviour was, mildly put, unreasonable and uncooperative, and you terminated the chat session before my colleague was able to advise you on how to proceed.

After this occurrence you proceeded to email us regarding the matter and were given an adequate reply within 25 minutes, in spite of your frankly rude, impatient and condescending manner of conduct. We do not discriminate between our clients and genuinely try to assist them as quickly as we can, even if they sometimes make this difficult for us.

We have detailed logs of your correspondence with us and can readily provide them to prove what we have stated above. Rest assured that the matter that you initially contacted us about can be easily rectified, as long as you can muster at least a modicum of patience and understanding, and allow us to help you.
USA,
Dec 20, 2017,
Registered user

Be VERY cautious

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

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

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

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

We have also received information that you have, indeed, already received your funds. We apologize for any delays that may have happened, but please understand that they did not originate from us. We do our best to thoroughly investigate each similar case and will happily provide our clients with any information that we have. We also take all the necessary measures available to us to speed withdrawals up as much as possible, but on some occasions the matter simply does not depend on us, but on some third party that we have no control over. As seen in the corrected reviews, withdrawals always reach our clients. There has never been a case where a client has not received their funds after cooperating with us.
Jersey City, USA,
Dec 9, 2017,
Registered user

My 3rd Update - Finally got my 2nd withdrawal after 17 days. If you can deal with long waits on withdrawals then this broker is perfect.

Dec 1, 2017 - 1 Star AN UPDATE TO MY 2nd WITHDRAWAL


DO NOT OPEN AN ACCOUNT WITH THIS COMPANY.

So the first withdrawal took 4 days after I requested it by the way of refund. Since then I have been very profitable and requested a 2nd withdrawal in the amount of $5K and one of the customer service reps gave me a call the following day leaving a message asking me "is there any reason for your withdrawal"? which I thought was very suspicious. I called him back and told him my reasons and he said okay. Then a few days later they emailed me wanting to verify my wire by me sending in a bank statement just to verify my account number which I thought was fine. Took another 3-4 days and finally I got the email saying my withdrawal has been sent out give me it 2-10 business days. So I waited at least 7 days and then called because my wire still has not hit. Spoke to several different reps and one is saying 2-10 business days and the other is saying 2-15 business days. I wrote an email regarding my concern, went back and forth with them and requested a bank swift confirmation code for the wire and they told me to wait 4 days. It's been about 6-7 days now and I still have not received anything. Everytime I call about the wire they tell me the same thing just wait and they will contact the back office. Today is the 15th day and I have yet to receive the wire. Called them again and same thing. I wrote them another email asking where is the wire and if this is a scam please don't waste my time.


DO NOT OPEN AN ACCOUNT WITH THIS COMPANY. YOU HAVE BEEN WARNED.



Oct 28, 2017 - 4 Stars I opened an account with this broker about a month ago and so far so good but my only one complaint is the withdrawal process which has been confusing at first and a bit different than what I'm used to. They have a different process on how they do things and at first I must admit I was worried that I won't get my funds but now that I have received and it's only been 4 days after my request, I'm more comfortable to put more money in and trade.
 
Maryland, USA,
Dec 8, 2017,
Registered user

Still Observing

This is an update on my review of LMFX on Nov. 17,2017. So I finally got my over $8k funds after a full month and half! What I didn’t get though was a firm assurance or committment from the company that this problem will never happen again. Most brokers who care deeply about their clients would usually make a concrete show of such committment by offering bonuses to affected clients but it appears LMFX does not believe in that. For my part I expected a complete waiver on their bank fees but nope, I was still fully charged. That’s fine, I’m glad I got my money. What I’m not glad about still, though, is their use of slippage to shortchange you. I have stopped documenting the cases because it just happens everyday! I want to close a profitable trade of say, $500.00, the system reminds me the trade will be closed for $500, I hit the button to confirm. I check the amount and it’s $495.00. No, I’m not talking about swap costs! Or I place a buy limit order of GbpUSD at 1.3450. The order gets filled at 1.3452! So what happened there? And this is not a one-off. It always happens. That ladies and gentlemen is horrible. I want to give this broker more time to get it right but of course patience has limits. One more thing you need to worry about LMFX is the response time of the Back office. It’s just terrible. I will see if this broker improves and I hope they do otherwise I don’t see how they deal with competitions.

Nov 17, 2017 - 1 Star More than anything, the thing that endears clients to any broker is the ease of deposits and withdrawal but of course most especially . This company has no understanding of that. After close to one month of back and forth with them, I’m still waiting for at least 4 backlogs of withdrawals and they keep giving endless excuses to a point you cannot help but feel they are either unviable or not here for the long run or both! I have never, after many years of trading, been put through the shitshow that I’m currently experiencing. Their customer service can be ok when it involves you depositing your money but suddenly appear clueless when questions about their withdrawal process start coming. I didn’t want to rate them at all but had to give 1 star to emphasize just how terrible their withdraw system is. They will pin it all on their bank but will not tell you it will take them a whole week to even process your order. I should think that any business worth its name would throw a bank that won’t process clients orders in timely manner out but not LMFX. I’m still waiting for them to show me a track of my funds, which is over $8000.00. I don’t count on them to reply any soon but will count on them to come over here to try counter my post. My account number is 21839 so I’m real. They gotta be the worst of the worst when it involves sending you your money. I will do whatever it takes to get my money but am frustrated to death that I have to be put through this long wait. For the amount of negative reviews I have read here about them, you’d think they would do whatever it takes to resolve concerns about them but it looks obvious they are not interested in that. It also looks to me that they use treating a few clients right as a way to rope the rest of us in otherwise I cannot believe all their customers are not having this problem. This broker has a big question mark from me and I’m trying so hard to remain fair and professional in my review.
 

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.