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

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Traders Reviews

De leon Aris,
Lemeri, Philippines,
Jan 27, 2016,

I started trading this broker a couple of months ago, standard procedure in opening an account, trading environment is surprising, its really fast, very noticeable, there are only three accounts types as of now, and I'm trading a test premium account with roughly 400 USD, good set of currency pairs, and an active support, so far the results are good. I have no complaints, but I will stick to the test account for another two months before moving my funds here
Nguyen Thanh,
HCM, Viet Nam,
Jan 29, 2016,

I tried several brokers before and I see LMFX suits me most, I had 2 months of scalping test on its zero account before opened live account. Support was also very helpful and actually allowed me to use demo of the zero account. Keep in mind that you have to request if, because their regular demo is only for the premium account. The spread looks good and it requires only 3 pips difference in setting TP & SL, while other brokers are 5-8 pips. Just withdrew last week and money was in my account in 3 days (I used wire transfer)
, USA,
Jan 29, 2016,

I tried to open demo account with LMFX I could not. No support can help you, only automated reply no support.
Reply by Venelin Videnov submitted Feb 1, 2016:
Dear Mike, I'm sorry for any inconvenience you may had with our system, but I believe that you haven't started the chat properly. When you enter Queelo (our clients communication portal) you need to initiate the chat with the support department. Since you know about the automated reply section called "Ask Alejandro" you were at the right place, but you didn't press the button which says "Chat with support department". LMFX has 24/5 Live chat, Phone and Email support and I would like to assure you that if you initiate communication with our support agents you will get prompt reply to all of your questions.
Duc Tuan,
Hanoi, Viet Nam,
Mar 28, 2016,

I found out this broker after had a bad experienced of widening spread in previous broker. Much lower cost of trading with LMFX Zero account and the platform was faster with only 3 pips distance for entry point on pending orders. Deposit and withdrawal were very fast as stated on the website. Currently I am using Skrill and just withdrew last week. Overall experience is good.
Floyd Herrera,
Bicol, Philippines,
Apr 26, 2016,

First impression was good, the platform stability is excellent, fast execution, spreads on an average are very good on majors, i trade mostly the eurusd, gbpusd and aud pairs during london and ny sessions. the Queelo portal can be a bit confusing at first, its something new to me, but really handy once you get the hang of it.
Ahmed Zuberi - SCB,
Karachi, Pakistan,
May 17, 2016,

LMFX broker is among the top brokers I have used, the trading platform is stable and spreads are also competitive. Since I am from banking so i used to safe my money by investing it in mutual funds, buying share scripts of major companies and by investing in forex trading too..
Viet Huynh,
HCM, Viet Nam,
Jun 6, 2016,

I choosed LMFX because of the recommendation of a friend. I liked using their MT4 and now I’ve downloaded MT4 Mobile as well.

Pros: Professional and trustworthy
Cons: Busy days can result in requotes
thomas nash,
South Carolina, USA,
Jul 19, 2016,

Don't use these brokers they are a scam & scammed me out of my money they kept taking my money off my card due to losses but then when I catch a good bid in my demo account and try to go to my live account to place the same bid to catch the profit it's my bank rejecting my card if that was the case it would've rejected it from the jump not after y'all have gotten me out of $500 now it's wait 24hrs then its wait on your bank they blocking it then it's the payment processor I mean really straight run around I 've talked to my bank and they say it's not them so basically they scammed me take your money elsewhere
Tran Duc Vinh,
Hanoi, Viet Nam,
Jul 29, 2016,

I opened live account with LMFX couple of months before, I like the tight spread as well as friendly customer support. I had one withdrawal so far and it was credited in my skrill account same day. I would like to give them 4 stars at current situation because its too early give them 5 stars. Lets hope I`ll have the same opinion in future as of now.
Martin E.,
Pennsylvania, USA,
Aug 3, 2016,

I am very pleased with LMFX so far. I have received a few withdrawals by wire transfer and everything went smoothly. They have been very professional too.
Fakhar Randhawa,
Lahore, Pakistan,
Aug 11, 2016,

The overall service is good and i am a happy trader.

I started trading demo account with this broker in dec last year and afterwards went live in march. My major interests are to trade mostly gold, oil, eur and usd however can't focus much on gold and oil as they are always bearish. Eurusd trades gives some good amount however i am still a part time trader. To be honest they have no complaints up till now.
Chicago, USA,
Aug 28, 2016,

Very good forex company

No complaints so far. And withdrawals are also not a problem.. good to know there are good companies out there not jumping when the USA says jump
Sep 12, 2016,

Good broker been with them for a couple of months! Deposits and withdraws all made it back into my accounts have had no issues! Great broker!
Sep 16, 2016,
Registered user

Back office customer service

Their back office customer service response time is quite poor comparing to their front office customer service response time . Which can cause issues during withdrawal and account approval process.

Sep 14, 2016 - 5 Stars Awesome customer service. Super fast and accurate. Easy to fund through credit card. Didn't withdraw yet but so far they perform so much better than I expected . I will review after withdrawal too.
las vegas, USA,
Oct 1, 2016,
Registered user

GOOD UNTILL .... lets find out .

Everything has been good so far , the only thing is if your a u.s citizen your money has to be transferred through an actual Chinese store in china .... which felt not safe at all but yet it went through and I was able to trade , i just got done with using FBI ( forexbroker inc ) and they still haven't withdrew my money from last week ! so im hoping that LMFX will not have such a long wait process or any problems when i withdrawal . I will post again once im happy .
tx, USA,
Oct 7, 2016,

I didn't feel comfortable when I first stat using this broker since it's new! But what really attract me is their high customer serves . I like their spread since I don't go too much negative every time I open a trade!
I would defiantly recommend this broker ......
Duy Pham,
Ho Chi Minh, Viet Nam,
Jan 23, 2017,

Trustful broker

I have withdrawn from LMFX a few times in 4 months (I joined LMFX from 2016), the payments are smooth and fast. They don't require any thing to carry out a withdrawal, you only need to transfer from trading account into LMFX wallet and fill out a withdrawal form. My EA also works with this broker platform, the backtest is well-expected. Let's see in the future but now I am very satisfied with the service.
Texas, USA,
Mar 10, 2017,
Registered user

Excellent customer service and quick deposit/withdrawal options. I started with them last year and they use to accept credit cards at that time. Then they started to have issues with the card processing company and stopped accepting credit cards from clients. However, I tried using wire transfer option and was amazed to see the deposit and withdrawals completing in 24 hours. That was amazing specially when they cover wire transfer fees on deposits from clients bank. Spreads are good, leverage is excellent and execution is quick. Never experienced high slippage even in news time. Definitely recommended.
Mar 29, 2017,
Registered user


LMFX was good until we had to withdraw money from the account. It's supposed to be 2-10 days for a withdrawal to come through to your account. First they said someone screwed up and had to resubmit it. Then the second time at the 10 day mark they said someone called trying to change the bank information. So we sent everything needed for identification again. Once given they said we would be given our money in the account. Suddenly today when we called all our money is gone and our account doesn't exist. LMFX is a scam. And for anyone looking for a broke so not use them! They will steal your money. They have been reported many times and now will have a Investigation placed on them. Be careful when getting a broker. They have stole over 18k from us and now we are broke, no income, and have to figure out how to pay our bills and pay for our newborns medical bills. STAY AWAY!
Reply by Maria LMFX submitted Mar 31, 2017:
Thank you for your feedback!

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.

First of all, let me say that we at LMFX take each case seriously and responsibly and we will do the same in this particular situation.

Usually we do not respond to such manipulative tactics, but since you decided to post this fraudulent information here, we will do anything possible to investigate the case in detail.

Regarding your first comment: “First they said someone screwed up and had to resubmit it” - this is a standard procedure because the client must withdraw via the same funding method, he/she used to deposit and in cases where the client chose a different withdrawal method, we cancel the withdrawal and ask the client to resubmit it.

“Suddenly today when we call all our money is gone and our account doesn't exist” - Please provide us with any piece of information that could be used to help your case. Send us proof that you made a deposit with LMFX and that you requested a withdrawal with LMFX because even after an investigation we couldn't find a client matching your profile.

You also mentioned that we have been reported many times as a SCAM. Could you please provide us with the website or the review or the comments where LMFX was reported as a SCAM broker because we fail to find such information?

Could you please also provide us with your LMFXconnect ID, live trading account number, Demo account number or name (any of those would be sufficient) so we can find you in our system and investigate the case that you explained here because we again fail to find a client of LMFX with an issue that even remotely resembles your own. Any information will be highly appreciated!

Thank you!
Apr 3, 2017,
Registered user

I opened a bith a demo and live account with LMFX. I have not yet funded the libe account because I've been waiting for LMFX to offer crdit/debit card depoait/withdrawal mwthod which they currently do not have.

I was first told they would have credit/debit service by the end of the month, which was February. Waited an entire month and still no credit/debit service. I find it totally strange and a little suspicious that a financial services company wouldn't have credit/debitncard service.

They are not alone though. This appears to be a running theme with many forex brokers.
Lal Deen,
Gujarat , Pakistan,
Apr 5, 2017,

I, after having almost one year of experience with them, safely recommend trading with this broker as they are fair in their dealings.

I was referred to lmfx broker through a friend who already have six to seven years experience in forex trading. I opened my trading account in last year April, submitted my documents for account verification and get myself verified within a day or two. Since then I have been with this broker and making profits on my amount. I am glad that they have a stable trading platform with sufficient trading pairs however my main preference is to trade EUR, GBP, USD, Gold and Oil. They also offered bonuses which i have availed for improving my liquid equity positions and among these cool offers, the free phone validation bonus was most tempting offer that i have ever noticed. I also believe that i already have made enough ROI to payoff all of my start up investment. I am not investing any further amounts at the moment but i do request weekly profit withdrawals which are processed in a convenient time frame. I, after having almost one year of experience with them, safely recommend trading with this broker as they are fair in their dealings.
Jason Lee,
Singapore, Singapore,
Apr 15, 2017,

Decent broker

I have been trading with this broker for over 1 year on mostly majors and this broker overall is reliable. Never faced any issues in deposit/withdrawal except you need a little time at first to accustom to their system. The MT4 works well with my EA on both Zero and Premium accounts (not tried Fixed yet). The zero one offering super low spreads with a fixed commission that you should consider in choosing account. The Premium doesn't have any commission but the spread is of course higher approximately 1.5 (on EUR/USD and Cable). Support is also friendly và promptness except I cannot listen clearly because of their accents.
Phong Nha,
Ho Chi Minh, Viet Nam,
Jun 15, 2017,

Fast broker

I am from Asia and been with LMFX for about 1 year, my account is premium. Trading execution is quite prompt while the spreads are acceptable if you are sticking only major currencies. Their customer and payment services are fast. I was rejected withdrawal one time few months ago because of wrong form information and after resubmitting the request, they immediately processed my request in day. I am so satisfied with LMFX services.
John C,
Jul 10, 2017,

Stay Away from LMFX

LMFX will steal your money, They actively find excuses not to process your withdrawal.

I am day 20 for my credit card refund to return my funds, they put in an "investigation" to see why it has not been processed. I have merchant accounts, it takes 3-5 days for a credit card refund.

My wire transfer has been on hold, this excuses is because of a "bank software error". Wiring money is done via SWIFT, the global economy would be down if swift was down.
Maryland , USA,
Jul 13, 2017,
Registered user

Good Broker & Communication!

I've been at LMFX for 5 months now. I like them a lot. Great support, platform, prices and spreads. I also like their refer program as well.

I do feel LMFX is honest and they do care about their client's happiness. Like the others here, I recently ran into some credit card withdraw issues where it was taking over 3 weeks to get my money. I was in constant contact almost on a daily basses with LMFX's support about their card payment processor. The payment processor because of a software issue was not able process some withdraws/refunds over the past month or so. I was victim of this issue. I did just get my withdraws today but had to do a bank dispute to get them. Yes, a hassle but I do believe it was a one time thing. I'm not sure if the LMFX's credit card processor has worked out the issues for feature withdraws yet but it does sound like their on it.

Overall I've been happy with LMFX and have made over $6k profit with them over the past 2 months. Thank you LMFX and keep up the good communication with your clients! :)

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.