LMFX Review

3.35 · 125 REVIEWS
Updated: Oct 30, 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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3.35 · 125 REVIEWS
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Traders Reviews

Canada,
Aug 24, 2017,
Registered user

I heard really good things about LMFX a couple months ago.

I started using them in July and it took them over 8 WEEKS to withdraw my money.
At first they told me that they couldn't process my credit card withdraw because their payment processor wasn't working. Next, they told me to Contact my BANK to get my money back as a Charge back (In that case Fraud Charge as the bank calls it)

Its honestly such a hassle and it shouldn't take anybody over even 3 WEEKS to withdraw money into an account. Finally i got it wired the next business day.

They are a good broker in terms of Leverage, Spread, ETC but the money withdraw wait time is just ridicilous
 
K,
USA,
Sep 8, 2017,
Guest

Their customer service is complete garbage. Feels like you are talking to a robot who does not care about your issues due to their platform. The Withdrawals are another negative not allowing you to withdrawal any money you've made until you are "approved" by their department. You can't withdrawal money but you can trade. Save yourself the time and find a more reliable broker with a better withdrawal system.
 
Reply by Maria LMFX submitted Sep 13, 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.

Let me first say that we have an excellent support team who do their best to answer client queries and are available 24/5 via phone, live chat and email. I can guarantee that if you were indeed facing issues with the platform and contacted them, they did everything in their power to assist you. If you give us your LMFXconnect ID, live trading account number, Demo account number or name (any of those would be sufficient), we will be able to prove that this has indeed been the case.

Just like all other reputable brokers, we require our clients to send us some documents in order for their account to be fully verified and for them to be able to withdraw. This is clearly stated in the Account Opening Agreement, which can be found Here.

These documents are very basic and easily accessible. We do our best to review them as quickly as possible and to offer advice and guidance to any clients who are facing difficulties. We have never had a case when a client has been unable to withdraw because of the account verification process after communicating with us and following our recommendations. If you contact our Support team, they will be able to guide you on how to proceed. We never hold withdrawals and we  do our best to ensure that our clients can deposit, trade and withdraw without any issue whatsoever.

As stated before, if you have any questions or need of assistance, you can contact us at any time. We are available 24/5.


Thank you!
Ph. Thanh,
HCM, Viet Nam,
Sep 18, 2017,
Guest

Fast withdrawal broker

I have been trading with this broker from Jan and withdrew several times. No hassles except I used my browser auto-filled when withdraw and it caused my requests denied and had to submit again. Deposit could take only a while but withdrawal could be up to 24 hours. Please remember your fund will be returned to the same method you used to deposit while the profit goes through another method as Skrill. A disadvantage is you could see trading conditions changing during news release as leverage but so far I know most brokers have this issue. 4/5 stars.
 
Shah Nawaz,
Gujar Khan, Pakistan,
Sep 26, 2017,
Guest

Trading with this broker for the past one year. They are simple yet very responsive brokerage firm which caters the perfect to my investment needs. They have reasonable pairs to trade. The other things like spread, leverage, commission and bonuses all are awesome too. Payment deposit or withdraws are also easy but I have a little suggestion if they mind adding modern payment methods like Bitcoin to wallets as well. Rest is good and I do recommend them good being at services.
 
David,
USA,
Oct 5, 2017,
Guest

To be honest, I hate their identity verification process. It's something that I questioned every step of the way, but the company has ensured me that they will improve it in the future and for some reason, I actually believe them.

I also complained about the additional deposit verification process (which they do for charge back protection. I still find it a bit strange.) and how it should be stated on their site. 24-48 hrs later their site was updated notifying client of the additional verification. Despite the fact, I gave and will continue to give LMFX a hard way to go that showed a solid level of integrity that's hard to find from a broker.

I actually compared every single one of FMLX pair spreads to Oanda (a broker that has never been fined by the CFTC or NFA) and all of them during peak hours and off were comparable. I also will add my trade execution was speedy and stop losses triggered exactly when they were suppose too.

I have not tried a withdraw yet, but will update you guys in the coming days to let you know how that all plays out, but for now, I find LMFX to be a safe choice for traders.
 
Texas, USA,
Oct 16, 2017,
Registered user

Stole Money

STAY AWAY !!! You have been warned !!
I write this not out of anger but out of concern for anyone dealing with this entity. This is now my 3rd & last problem with these guys, I've wired money (17 days ago) from BOA to their bank in hopes of funding my account. I was told to wait 2-7 business days, I then contacted my bank and confirmed funds were received by the bank LMFX uses. I then provided valid receipts to then only get an email 2 days later stating there is a delay on their end. Customer service are robots, the backoffice copies and pastes the same email. I have yet to get a response from them at all, but this is not the first issue. THESE PEOPLE WILL STEAL YOUR MONEY (This is now the 2nd time). I have copies of the transcripts that show too many inconsistencies to the point where I stopped bothering to ask where my money is.. which is sad. Use a regulated broker such as FXCM and protect your investment. Learn from me!

Jul 12, 2017 - 1 Star Stay the HELL AWAY!!!! Honestly. These guys damn near robbed me, I've been waiting for months for a total of 3 withdrawals & all they feed me is excuse after excuse. I requested a receipt to be sent and they sent a fake one. I have transcripts regarding misleading conversations & now I'm taking legal action. No doubt they were great before but now their brand is tarnished. All of my students are pulling their accounts & migrating to fxchoice or tradersway. BE WARNED
 
Reply by Maria LMFX submitted Oct 19, 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.

Let me first say that we have an excellent support team who do their best to answer client queries and are available 24/5 via phone, live chat and email.

I would like to add some additional information regarding your case. The deposit of 250 USD + deposit fees that we cover was added to your LMFXconnect account (Wallet) on 2017-10-18 09:26:22 and you made an internal transfer to your live trading account on 2017-10-18 15:36:02.

You made the Wire Transfer on 2017-10-02 and sent us the bank receipt the next day. As our website clearly states, Wire Transfer deposits may take between 2 - 15 business days. Ultimately, your funds have been delivered and placed into your account in 13 business days - within the advertised time frame on our website.

We kindly ask you to reconsider your review and edit it in a way that meets the actual circumstances.

Should you have any additional questions, please feel free to contact our Live Customer Support which is available 24/5.
atlanta, USA,
Oct 17, 2017,
Registered user

Their customer service is absolutely terrible. getting a withdrawal from them is like pulling teeth except worse. they have a hard time processing a $350 withdrawal how are they supposed to be able to handle larger amounts..... AVOID AT ALL COST.
 
Reply by Maria LMFX submitted Oct 19, 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.

Let me say once again that we have an excellent support team who do their best to answer client queries and are available 24/5 via phone, live chat and email. I can guarantee that if you were facing issues with your withdrawal request and contacted them, they did everything in their power to assist you. If you give us your LMFXconnect ID, live trading account number, Demo account number or name (any of those would be sufficient), we will be able to prove that this has indeed been the case.

Should you have any further questions, please feel free to contact our Customer Support!
Malaysia,
Oct 18, 2017,
Registered user

LMFX broker delay the client withdrawal

extremely teribble for withdrawal. the livechat always looking for excuses.
i am still waiting my withdrawal of 215 usd through neteller.
the reason that given is always on back end office process. i hope lmfx person can show up here and state the reason.they keep delaying your withdrawal.31697 and 31698 is my trading account number. i am depositing 300 usd using neteller.

please avoid this broker. potential a serious scam deposit taking.
 
Reply by Maria LMFX submitted Oct 20, 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.

Thank you for providing us with your account number. I checked the case in our system and I can confirm that your withdrawal requests were both processed on 2017-10-18 16:37:50. You should have received the money in your Neteller account by now.

We kindly ask you to contact our Customer Support in case of any issues with your withdrawal request and to edit your review in a way that meets the actual circumstances.

Thank you!
Aneesa,
Rawalpindi, Pakistan,
Nov 2, 2017,
Guest

Long story short i will not get into my trading specifics but i can add that this broker is really worthy to make earnings. I started trading almost two years ago when i left my job. Obviously it was not volunteer but i just laid off unfortunately. I then took some time learning about money making online. After some while i came across forex trading and found this broker. I opened up my account and since i have satisfactory reaults because of the service.
 
USA,
Nov 9, 2017,
Registered user

STAY AWAY FROM THIS FRAUDULENT BROKER !!! TOTAL SCAM!!! NO WITHDRAWALS for months!!!

I would like to WARN all Forex traders from US to stay the hell away from this fraudulent broker..
Once you open an account with them they put you straight into their B-Booking account and start trading against you. But when they realize that you you are making profit they change your MT4 platform by adding a patch to it which enables slippage to all of your buy or sell orders by 12 to 15 pips. Their customer support from the back office are bunch of crooks and lairs constantly looking for excuse to answer your questions. The moment you initiate withdrawal of your profitable trades they send you an e-mail to explain the reason for withdrawal. The reason why they ask you this question is because this broker is INSOLVENT and unable to process withdrawals, constantly blaming that the delaying comes from their banks but not them. And at the end the chances are that you will never receive your withdrawals. STAY AWAY ! YOU HAVE BEEN WARN !
 
Reply by Maria LMFX submitted Nov 13, 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.

You made several claims in your review that are completely fraudulent.

First of all, we are a No Dealing Desk broker. This means that all trades that clients make are sent straight to the market without any interference on our end whatsoever. We are strictly A Book.

Additionally, we are definitely not insolvent as you claim. We are constantly process a very large number of withdrawals and deposits on a daily basis and never hold withdrawals.

Concerning this slippage you claim to have experienced, we definitely did not add a “patch” or manipulate your trades in any way. Kindly provide us with your ID and password and we will be able to provide detailed logs of your trading history which prove that there is no manipulation on our end.

If you have any actual evidence to back up these claims, kindly provide it. If you cannot, we must conclude that your accusations are completely baseless and unwarranted.

It is customary for us to contact our clients when they withdraw because client feedback is very important to us and we want to check whether they are facing any issues that we can assist them with.

Keep in mind that withdrawals via Wire Transfer can take 2-15 business days because sometimes the banks that handle these transactions do internal security checks which may occasionally slow down the process a bit. If your funds have not reached you within this time frame, contact us via email and we will investigate the case. If there has indeed been a delay beyond the time advertised on the website, we will take all the necessary measures to make sure that your funds reach you as quickly as possible. We have never had a case where a client has not received their funds after cooperating with us.

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.