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.

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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3.342 · 127 REVIEWS
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Traders Reviews

Kai,
USA,
Aug 29, 2018,
Guest

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

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

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

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

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

LMFX Decent- Withdrawals are slow

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 The only problem I have is that i have withdrawn $3700 from them and still haven't received my funds and it has been over a month.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

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

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

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

Pleased

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

No communication, untrustworthy broker with often times bad data

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

Please allow me to politely disagree with your above statements.

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

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

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

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

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

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

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

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

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

I recommend this broker with less spread.

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

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

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

FMFX IS A SCAM

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

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

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

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

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

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

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

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

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

Amazing customer service and low spreads

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

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

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

Too long maintenance..

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

Thank you for your feedback!

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

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

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

Bs

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

Thank you for your feedback!

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

Please allow me to politely disagree with you.

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

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

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

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

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.