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

Live discussion

Join live discussion of LMFX.com on our forum

Go to forums

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.


Video

Your company video here? Contact ad sales

3.368 · 126 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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

Your feedback matters!

Traders Reviews

anonymous,
Austin, TX, USA,
Nov 19, 2020,
Guest

Payment system needs improvement but overall these people have integrity

Service use: Live

Had to write another review for this broker. This is my third large withdrawal. First
withdrawal was for 21k, 42k, and my third withdrawal was for $20k. All these withdrawals were received in my bank account in less than a week.Lmfx paid out all
withdrawals. This company is legit. I know there may be some negative feedback on here that they are a scammer. Those that are screaming out scammers are either those who accepted the bonus money but d0nt know how it worked or, those who don't know how to trade but want to blame the broker. Trading is a hard business. Read somewhere years ago that 98% of people who enter this business end up loosing money. So, instead of pointing the fingers at the broker like lmfx, it may be time to take the time to develop a winning trading strategy. Lmfx is a legit company. The reason why I'm only giving them 4 stars is because their payment system needs improvement. For those of us using credit/debit card to fund our trading account, it would be nice to be able to deposit more than $3k per day as well as not have to wait 24-36 hrs for every 6 successful deposit. Other than their payment method,
this is a solid broker.

Nov 1, 2020 - 3 Stars I posted the last 2 message. That I was able to make a withdrawal of $21k and $42k.
Yes. you will get your money back from lmfx. They are not crooks. However, I would not give them 5 stars. I would give them 3 stars at most. Why 3 stars. Their payment system is horrible. They allow you to make a total deposit of $3k per day for up to 48 hours with a total deposit of $6k if you are using a debit card. Now after a total of 6k deposit, if let say the market is not moving in your direction and you want to add additional funds to keep from hitting margin, you would have to wait 24-48 hrs from you last deposit before you can make another deposit. Now tell me who does this favor? The client or the broker? Now if you ask lmfx, they would tell you they are trying to protect you from fraudulent activity. That is a lie. Other brokers do not put a cap on how much you can deposit into your trading account. So, instead of a 5 star, I am going to go with a 3 star because their payment system ( deposit and withdrawal) method is horrible. Short term, if u are trying to make a few bucks, they are an okay broker to trade with. But if you are in this business long term like myself, you are better off finding another broker. And please lmfx, dont come
in here and tell me to deposit with cryptocurrencies. Cyrocurreinces are too volatile for some of us to deposit with.

Oct 24, 2020 - 5 Stars This broker is the real deal. Many people will let the fact that they are not regulated turn
them away from LMFX. I too use to think that way until you realize that many (not all) of these
regulated brokers really dont have your best interest at heart. I had to share my experience with
LMFX. Been trading with them now for about 3 months and thus far, I can tell you that they are not
a a market maker. The platform doesnt freeze when placing a trade. Also, their customer service support
is excellent. Last but not the least, most of you might be concerned as to whether or not you
will be able to make a withdrawal of profits. I can vouch and say yes. I've made two big withdrawals,
one in the amount of $21k and the other in the amount of $42k and both withdrawals were paid out.
Now, I would say to exercise some patience when requesting a withdrawal via wire. Remember, international
wire transfer can take a bit longer than domestic wire. But if you know how to trade and looking
for a solid broker to trade with, you need to look into this brokerage firm. Trading is not easy.
It took me many years of failure and loosing before I became good at it. Finding the right broker
who doesnt take trades against can go a long way when it comes to being a profitable trader.

Reply by Maria LMFX submitted Nov 10, 2020 Hello and thank you for your feedback!

We apologize for the inconvenience you experienced!

LMFX offers a variety of funding options provided by third-party companies, and it is understandable for them to have certain conditions and restrictions.

Our sole purpose is to deliver the very best services to our clients, so we have other funding options available that are easily accessible from your LMFXconnect account.

You can check their minimum and maximum deposit requirements in your Wallet. There are deposit methods that do not use cryptocurrency to facilitate the payment and are just as swift and secure.

Should you require any assistance, do not hesitate to contact our Customer Support team.

Thank you!
 
Louisville, Kentucky, USA,
Nov 12, 2020,
Registered user

New client for LMFX

Service use: Live

Length of use: 0-3 Months

No problems whatsoever. They do what they say and say what they do. As a US resident this is the best offshore broker experience I have had. Very consistent. I received everything they commit to.

For all of the complainers you need to adjust your expectations. This broker does not deserve any less than four stars for any of the very minor issues I have seen posted. Stop whining and start trading.
 
tampa, USA,
Oct 28, 2020,
Registered user

Hidden Fees with depositing with mastercard.

Service use: Live

Length of use: 0-3 Months

I have used my check card (mastercard) to deposit 499.99$ and it was deducted 538.27$ that is about 7.8% (there is an other riview with the capital one for 99 his was withdrawn 107$) and there is an international fee from the bank that was around 5$. The other 38$ has been said bank fee or 3rd party processing fee which is nothing to do with the broker.
I don't know is that a cash processing fee by the bank or etc but it showed as a withdrawn by
"FULANDOK cheng du shi CNCN "
international conversion fee is from the bank which is 4.31.
So in their web site under the mastercard they should inform the customer that there will be a 7.8% hidden processing fee by the bank or the processing company than it would be fair. for the customer
 
Reply by Maria LMFX submitted Oct 30, 2020:
Dear omerayyer,
Thank you for your review!
As mentioned previously, we as a brokerage do not have fees on deposits. Any fees applied come from third party payment processing companies/banks.
The transaction is international, thus the banks and payment processors may charge you a small amount, as it is expected in most cases from such transaction.
We cannot be held responsible for such fees, as we are not the ones who impose them, thus we can't post any official information on our website.
As this is not a domestic acquirer, issuing banks charge a fee for any international transactions and currency conversion (if any). The charges vary from card issuer to card issuer and the real-time FX rate, around 1%-7%.
Should you have any further questions, we kindly ask you to contact our Customer Support!
Thank you!
Annie Dela,
San Pedro, Philippines,
Oct 2, 2020,
Guest

get the job done

Service use: Live

Length of use: 3-6 Months

I've almost done 4 months of live trading, here are some thoughts, lmfx gets the job done, pretty much a straight forward broker, very good spreads, execution is pretty quick, might be a good idea to add more withdrawal options, but for the most part, usually withdrawals are processed with in 48 hrs.
 
Chris Vo,
HCM, Viet Nam,
Sep 7, 2020,
Guest

Satisfied services and decent payout

Service use: Live

Length of use: over 1 Year

Been trading with this broker for about 2 years and totally satisfied. It's a classic broker with decent and swift services. There are not too many advanced services as MT5 or PAMM but I was looking for a broker I can stick to trading mainly. Lucky that my EA works with their trading platform MT4. CS also supports live chat but only Europe time. Withdrawal is possible with Skrill and Neteller and you will get fund in 24 hours except weekend. Reliable broker!
 
arizona, USA,
Aug 28, 2020,
Registered user

Scammer , scammer

Service use: Live

Length of use: 0-3 Months

Scammer scammer scammer , they stole my money 4600 $ .
they suddenly removed the bonus from my account to make my margin to reach to zero then close all my open position and stole 4600 $ .
i had on my account at this time 2600 Margin with 250 % . but they removed the bonus and closed all open position and stole my money ., keep away from them
 
Reply by Maria LMFX submitted Aug 31, 2020:
Dear Loay Atef,
Thank you for your review! We investigated your case once again, and we can assure you that the Deposit Match Bonus works as it should so we cannot accept your statement as plausible.
You have been informed by two of our agents - on live chat and via email - about the Deposit Match Bonus and its Terms and Conditions.
We always advise our clients to read the ToS carefully before choosing any bonus and agreeing upon it.
The document clearly states the following:
The funds attached to the trading account as Deposit Match Bonus are available to increase the trading funds available and help in leveraging the account. They may not be lost.
This means that if your account is being stopped out, the bonus is being removed.
And also:
If the Client's account goes below the Deposit Match bonus amount, then the bonus is removed automatically by the system. In other words, if the Cash Equity (Equity - Credit Bonus) becomes zero or less, all previously awarded Credit Bonuses will be canceled and withdrawn from the respective Client's account. In this case, the Company is not responsible for any consequences of the bonus cancellation, including, but not limited to, order(s) closure by Stop Out.
You made two deposits of 1000 USD, so 2000 USD in total. Hence, you received the same amount matching in your account as per the Deposit Match Bonus.
Unfortunately, you experienced some losses + swap fees, and your account was stopped out.
Following the Deposit Match Bonus ToS, the bonus was automatically removed shortly after that.
Should you have any more questions, please contact us via phone, email, or Livechat.
Thank you!
New York, USA,
Aug 14, 2020,
Registered user

Outstanding Broker Doing The Right Thing By The Client

Service use: Live

Length of use: over 1 Year

Been with LMFX for 4 years as a US client, outstanding broker. Lightning fast execution, fair spreads and usually zero commissions. They've held the line while other brokers have fallen out through the years. I've made six figures with the company and have withdrawn it all without any questions besides verifying some information about myself.

For an offshore broker they've got an amazing reputation and have come a very long way in the past few years and should honestly be a top tier broker - regulated or not.

Many of you might notice there are a few bad reviews. The biggest criticism that LMFX has is their withdrawal process. Yes, in the past I've experienced a slow withdrawal but since then I've wired huge amounts in excess of $40,000 and they've made it to my bank account within just a few business days. Don't be discouraged, they pay out timely and deposits are quick as well. Deposit methods could be optimized, but throughout time you'll notice they are constantly adding in new ways to deposit.
  4 traders have found this review helpful
Texas, USA,
Jul 22, 2020,
Registered user

Decent Broker. More Withdrawal Options Would Be Great

Service use: Live

Length of use: 6-12 Months

I trade higher time frame charts 4hr, Daily and Weekly. So the complaints others have about a slightly higher spread is irrelevant for me. LMFX has quickly responded to my issues via email and were polite about everything. The only reason I did not give them 5 Stars is because they do not have more Withdrawal Options. For me, Wire Transfer is the only option. And it cost me about $40 to withdrawal money. Not too bad. But the good news is the money hit my bank account in about 36 hours. That's fast for a wire transfer! Also I cannot Deposit money with Visa cards. Only MasterCard. If Withdrawal & Deposit options were easier and more robust, LMFX would be worth 5 Stars easily. But this is just my experience so far. Thanks guys!
  3 traders have found this review helpful
Dai Thanh,
Ho Chi Minh, Viet Nam,
Jun 25, 2020,
Guest

Good broker

Service use: Live

Length of use: 6-12 Months

I have been trading for about a year with this broker. Not an advanced broker but stable service and I am totally satisfied and the execution is good on major pairs (not tested on exotics). About spread, it is good on majors as Sterling and Fiber pairs. And LMFX also has 3 account types fixed/float/micro spreads that I recommend float or micro. For payout, Skrill/Neteller payment that are swift so you can trust this broker.
  2 traders have found this review helpful
Dina, Pakistan,
May 29, 2020,
Registered user

Long trading experience

Service use: Live

Length of use: over 1 Year

Found out this link so i stopped for a while writing some of my own trading remarks i had experienced with this broker. I opened account in 2018 yes a long time ago. I still trading the same account though i had to deposit multiple times. Same is the case with the withdraws as well. I withdraw some of the profits to pay myself first. The rest is being accumulated in my equity.

They have variety of offerings like currency pairs etc with reasonable spreads. The staff is quite helpful in addressing queries. Mostly I found out them using the chatbox while logging in. The only cons is they should add digital currencies for payments processing and trading purpose. Rest I does not have any issues with them.
 

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.