LMFX Review

3.342 · 127 REVIEWS
Updated: Dec 24, 2020 · LMFX.com  · Is this your company?

LMFX is a forex broker based in Macedonia. Unlike US or EU based brokers, this allows LMFX to offer significantly higher leverage, all the way up to 1000:1.

For platforms, LMFX has multiple variations of MetaTrader 4 available, including the classic MT4 desktop, MT4 mobile for Android and iPhone, MT4 for iPad, and MT4 WebTrader. ECN accounts are available. EAs, news spike trading, and scalping are all supported.

LMFX support offers multilingual live chat 24 hours per day, 5 days per week. Support is also available by phone, email, and a contact form.

Although it is unregulated, LMFX has been in operation providing services for forex traders since 2015.


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:
Prohibited countries:
Trading platforms: MT4
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (45+)
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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3.342 · 127 REVIEWS
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Traders Reviews

Prince George's Park, Singapore,
Nov 19, 2018,

Credible broker

I have been in Forex field for several years and after some struggles with local broker, I decided to try an international broker. This broker was recommened by many members in a local forex trading forum. For registration, I have to provide 2 documents (ID + Bank statement), then my account is verified and I received a phone call from an account manager. I tried demo for a few days before getting into real trading. Overall, tight spread on eur/usd and gbp/usd, quick deposit and 24 hours withdrawal process and quick support through Live chat. Could say everything is good after 9 months trading with this broker except you cannot customize the demo fund for advanced testing.
  1 trader has found this review helpful
Dung Nguyen,
Can Tho, Viet Nam,
Nov 1, 2018,

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,

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.
Sep 17, 2018,
Registered user




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!
Canada, Canada,
Sep 14, 2018,

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!
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.
Miami, USA,
Sep 9, 2018,

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.
Sep 7, 2018,

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.
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!

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.