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,
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.
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.
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.
 
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.
 
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!
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.
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.
 
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.
 
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...
 
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.

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.