LMFX Review

3.35 · 125 REVIEWS
Updated: Oct 26, 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

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

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,
Guest

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)
 
mike,
, USA,
Jan 29, 2016,
Guest

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,
Guest

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,
Guest

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,
Guest

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,
Guest

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,
Guest

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,
Guest

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,
Guest

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,
Guest

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.
 
Eddie,
Chicago, USA,
Aug 28, 2016,
Guest

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
 
Dan,
US, USA,
Sep 12, 2016,
Guest

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!
 
USA,
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 .
 
allen,
tx, USA,
Oct 7, 2016,
Guest

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,
Guest

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.
 
USA,
Mar 29, 2017,
Registered user

STAY AWAY!!!!

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!
USA, USA,
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,
Guest

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,
Guest

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,
Guest

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,
USA,
Jul 10, 2017,
Guest

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! :)
 
Anh Tuan,
Hanoi, Viet Nam,
Jul 21, 2017,
Guest

Good but a little bit problem with payment

I have been with this broker for about 1 year, the service is really good on many aspects however one thing I didn't like is the payments stuck last week due to there third party payment processor. Still the support team explained the issue to me and suggest me to withdraw through other payment options. Now the issue is resolved and I did withdraw and deposited without hassles. I rated them 4 stars.
 
White Rock, Canada,
Jul 31, 2017,
Registered user

Stop Loss Hunting

Regarding my review comment of July 28, 2017. I received an email from LXFM Customer Service - they assured me that they are an STP Brokerage with NO Dealing Desk and there was heavy News at the time of my trade. So I sincerely hope that my first statement is wrong about them. Time will tell!

Jul 28, 2017 - No Rating Hi, Joined LMFX to test their site. So far I'm not impressed with their Dealing Desk Stop Loss Hunting. If things keep up this way I'll be looking for another Broker again.
 
amjad hanif ,
sharifabad , Pakistan,
Jul 31, 2017,
Guest

I only trade during the news release times especially on nfp, fomc but avoid trading when yellen speak because market becomes really very unpredictable in that case. All what I wanted to add for this broker is that the platform and execution is really good giving me right option to make right clicks on right time. I am really very happy and satisfied too with the services.
 
USA,
Aug 4, 2017,
Registered user

NO withdrawal

I used LMFX for a couple of months and while i had no problems trading, one thing that is unforgivable to me is not honoring a withdrawal. I made a withdrawal and waited for a month and it never arrived, i talked to LMFX countless times and they claimed that the problem was with my bank and that they deposited the $. I called my bank and the bank claimed they never received anything so when i called LMFX back they just told me that the problem was with not with them and they pretty much washed their hands off of it. I don't care losing $ making bad trades but not fixing a withdrawal is another issue.
 
Arjan den Braber,
Sint Philipsland, Netherlands,
Aug 15, 2017,
Guest

Problems with withdrawal solved

I want to update my review from 18 July, please add this to my previous update:

I finally received the money in my Skrill account and LMFX assured me that it was not their fault but of a third party. They have investigated the issue and solved the problem, so OK for now.

Jul 18, 2017 - 1 Star I made a withdrawal to my credit card SIX weeks ago and the money never arrived. Compliance is investigation the issue and I have proven that I did not receive money. LMFX knows it went wrong somewhere but still do not solve the issue.

Reply by Maria LMFX submitted Jul 24, 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 service and the most accurate information.



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



I would like to post some additional information regarding your case.



First of all, let me say that we had some temporary issues which caused certain delays in processing several withdrawals and your case was one of them unfortunately.



Secondly, I can confirm that the above-mentioned temporary issues that we experienced are now resolved and we are operating as usual.

I can also confirm that your withdrawal request was processed on 2017-07-18 17:13:05 through Skrill and since deposits and withdrawals via Skrill are instant, you must have received your money 2 days ago.



In addition, we absolutely always contact our clients after a withdrawal request in case we need any additional information and after a  withdrawal was completed to confirm that the money was sent successfully.



You were also contacted by our representative who kindly asked you to edit your comment here because the withdrawal was completed and we have never had the intention to steal your money and to lie to you as you imply.



Should you have any questions, please feel free to ask us here or to contact our Customer Support and we will be more than happy to assist you!
 
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.
USA,
Nov 23, 2017,
Registered user

AN UPDATE ON MY PREVIOUS REVIEW

ALL ISSUES RESOLVED.

LMFX IS SOLID I WOULD RECOMMEND (& D0) THEM TO ANYBODY IN THE U.S. INTERESTED IN FOREX AND LOOKING FOR A BROKER

I STILL HIGHLY ADVISE EVERYONE TO EMAIL THEM PRIOR TO DEPOSITING VIA WIRE TO MAKE SURE YOU HAVE THE CORRECT BANK DETAILS

THANKS.

Nov 20, 2017 - No Rating I have both live & demo accounts w/ this broker.

I've been with them for a little over a yr now and have only had 2 issues 1 reoccurring

1. It took a total of 19 days for my funds to be deposited INTO my account (not withdraw)

I never got a reason as to why - this only happened once so no biggie altho VERY inconvenient

2. I have been unable to log into my demo for almost a month now, no issues logging into my LIVE accounts just demo.

Chat w/ customer service provided me w/ copy paste server names to enter while logging in - this worked for a bit - I am continuously getting a "Account Not Valid" message I even created a whole new account/profile - & still NOTHING

It's frustrating b/c I am getting told that the problem is me, that I am entering the wrong pw etc - really?!? an insult to my intelligence & HOGWASH! I have uninstalled reinstalled and as I said even created a whole new account copied and pasted my login info - you name it, I did it!

I've emailed them and have utilized the chat ft to no avail as they cannot or I should say haven't provided any real assistance regarding the issue except pointing the finger @ me.

N/P I just demo w another broker and continue to trade LIVE w LMFX

That's my only real issue - I've been reading lately that withdraws take a hot minute but I can't attest to that as of right now.

Otherwise they're good to go as far as I'm concerned.

BEFORE YOU MAKE A DEPOSIT BE SURE TO EMAIL THEM AND VERIFY THAT THEY ARE USING THE SAME BANK 

THEY HAVE CHANGED UP 2,3 TIMES within the past 5 months

IT WASNT UNTIL AFTER I MADE A WIRE DEPOSIT THAT I WAS MADE AWARE THAT THEY ARE NOW W ANOTHER BANK --- VERY VERY INCONVENIENT 

LMFX SHOULD SEND A MASS EMAIL OUT OR SOMETHING OF THE SUCH TO NOTIFY CLIENTS OF THESE THINGS
 
Hoang VSG,
Ho Chi Minh, Viet Nam,
Dec 5, 2017,
Guest

Acceptable spreads but quick payment broker

I am in forex for 3 years and I have traded with this broker from 2016 and I mostly trade Gold and majors. Spreads in general are acceptable, eur/usd get quite good spread but gold is just moderate. This broker needs more improvements but payment reliable. I withdrew several times (<5k$) and all are processed within 24 hours to my Skrill account.
 
Maryland, USA,
Dec 8, 2017,
Registered user

Still Observing

This is an update on my review of LMFX on Nov. 17,2017. So I finally got my over $8k funds after a full month and half! What I didn’t get though was a firm assurance or committment from the company that this problem will never happen again. Most brokers who care deeply about their clients would usually make a concrete show of such committment by offering bonuses to affected clients but it appears LMFX does not believe in that. For my part I expected a complete waiver on their bank fees but nope, I was still fully charged. That’s fine, I’m glad I got my money. What I’m not glad about still, though, is their use of slippage to shortchange you. I have stopped documenting the cases because it just happens everyday! I want to close a profitable trade of say, $500.00, the system reminds me the trade will be closed for $500, I hit the button to confirm. I check the amount and it’s $495.00. No, I’m not talking about swap costs! Or I place a buy limit order of GbpUSD at 1.3450. The order gets filled at 1.3452! So what happened there? And this is not a one-off. It always happens. That ladies and gentlemen is horrible. I want to give this broker more time to get it right but of course patience has limits. One more thing you need to worry about LMFX is the response time of the Back office. It’s just terrible. I will see if this broker improves and I hope they do otherwise I don’t see how they deal with competitions.

Nov 17, 2017 - 1 Star More than anything, the thing that endears clients to any broker is the ease of deposits and withdrawal but of course most especially . This company has no understanding of that. After close to one month of back and forth with them, I’m still waiting for at least 4 backlogs of withdrawals and they keep giving endless excuses to a point you cannot help but feel they are either unviable or not here for the long run or both! I have never, after many years of trading, been put through the shitshow that I’m currently experiencing. Their customer service can be ok when it involves you depositing your money but suddenly appear clueless when questions about their withdrawal process start coming. I didn’t want to rate them at all but had to give 1 star to emphasize just how terrible their withdraw system is. They will pin it all on their bank but will not tell you it will take them a whole week to even process your order. I should think that any business worth its name would throw a bank that won’t process clients orders in timely manner out but not LMFX. I’m still waiting for them to show me a track of my funds, which is over $8000.00. I don’t count on them to reply any soon but will count on them to come over here to try counter my post. My account number is 21839 so I’m real. They gotta be the worst of the worst when it involves sending you your money. I will do whatever it takes to get my money but am frustrated to death that I have to be put through this long wait. For the amount of negative reviews I have read here about them, you’d think they would do whatever it takes to resolve concerns about them but it looks obvious they are not interested in that. It also looks to me that they use treating a few clients right as a way to rope the rest of us in otherwise I cannot believe all their customers are not having this problem. This broker has a big question mark from me and I’m trying so hard to remain fair and professional in my review.
 
Jersey City, USA,
Dec 9, 2017,
Registered user

My 3rd Update - Finally got my 2nd withdrawal after 17 days. If you can deal with long waits on withdrawals then this broker is perfect.

Dec 1, 2017 - 1 Star AN UPDATE TO MY 2nd WITHDRAWAL


DO NOT OPEN AN ACCOUNT WITH THIS COMPANY.

So the first withdrawal took 4 days after I requested it by the way of refund. Since then I have been very profitable and requested a 2nd withdrawal in the amount of $5K and one of the customer service reps gave me a call the following day leaving a message asking me "is there any reason for your withdrawal"? which I thought was very suspicious. I called him back and told him my reasons and he said okay. Then a few days later they emailed me wanting to verify my wire by me sending in a bank statement just to verify my account number which I thought was fine. Took another 3-4 days and finally I got the email saying my withdrawal has been sent out give me it 2-10 business days. So I waited at least 7 days and then called because my wire still has not hit. Spoke to several different reps and one is saying 2-10 business days and the other is saying 2-15 business days. I wrote an email regarding my concern, went back and forth with them and requested a bank swift confirmation code for the wire and they told me to wait 4 days. It's been about 6-7 days now and I still have not received anything. Everytime I call about the wire they tell me the same thing just wait and they will contact the back office. Today is the 15th day and I have yet to receive the wire. Called them again and same thing. I wrote them another email asking where is the wire and if this is a scam please don't waste my time.


DO NOT OPEN AN ACCOUNT WITH THIS COMPANY. YOU HAVE BEEN WARNED.



Oct 28, 2017 - 4 Stars I opened an account with this broker about a month ago and so far so good but my only one complaint is the withdrawal process which has been confusing at first and a bit different than what I'm used to. They have a different process on how they do things and at first I must admit I was worried that I won't get my funds but now that I have received and it's only been 4 days after my request, I'm more comfortable to put more money in and trade.
 
USA,
Dec 20, 2017,
Registered user

Be VERY cautious

I have been a happy member of LMFX since March, and up until this point the experience has been great. In fact, I have recommended them many times to others.

However, I am now extremely concerned about this broker. I have been waiting almost a month for a withdrawal, and all their recurring estimates of 2-3 days continually come and go. Backoffice response is decent, but ultimately they can/will do nothing. They will not provide me with wire tracking numbers, and their latest email responses are in all caps. I am sure they have reason to be frustrated with me as well since I am emailing them constantly, but I want some damn answers or at least a wire number. A month of nothing is very hard to handle.
 
Reply by Maria LMFX submitted Dec 28, 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.

Please understand that when it comes to withdrawals, we use intermediary services, which can cause delays, which are simply out of our hands. We process the withdrawals on the same business day or the next, depending on the time you initiated your withdrawal request. This means that we send the funds your way within 24 hours (excluding weekends and official Holidays).

We checked our emails and we are certain beyond doubt that no Back Office agent wrote to you in all caps. I would kindly ask you to correct this statement, as it is simply untrue. Rest assured that no agent has been frustrated with you, as these situations are handled with utmost care. We have detailed logs of your correspondence with us which can prove that this is indeed the case.

We have also received information that you have, indeed, already received your funds. We apologize for any delays that may have happened, but please understand that they did not originate from us. We do our best to thoroughly investigate each similar case and will happily provide our clients with any information that we have. We also take all the necessary measures available to us to speed withdrawals up as much as possible, but on some occasions the matter simply does not depend on us, but on some third party that we have no control over. As seen in the corrected reviews, withdrawals always reach our clients. There has never been a case where a client has not received their funds after cooperating with us.
USA,
Dec 22, 2017,
Registered user

I tested the withdrawal process after 2 months by removing $100. After, I could no longer use my card to fund my account. I contacted customer service

DO NOT OPEN AN ACCOUNT WITH THIS BROKER. This company has very poor customer service.
 
Reply by Maria LMFX submitted Dec 28, 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.

We are aware of your case and we would very much like to disagree with your evaluation.

Here are the facts regarding your case:

You made a deposit with us, but ended up withdrawing all of your funds after a short period of time, having barely traded anything. We as a broker are generous enough to reimburse any fees for deposits via Visa/Mastercard that originate on our end and such behaviour is damaging to the company. To prevent such an occurrence in the future and to safeguard our own interests, a limitation was placed on your account, restricting your access to deposits via credit/debit cards.

You contacted us on chat regarding the matter and a Support agent answered in a matter of seconds. My colleague tried to explain the situation to you and was about to advise you that a simple request would be enough to lift this restriction, but your behaviour was, mildly put, unreasonable and uncooperative, and you terminated the chat session before my colleague was able to advise you on how to proceed.

After this occurrence you proceeded to email us regarding the matter and were given an adequate reply within 25 minutes, in spite of your frankly rude, impatient and condescending manner of conduct. We do not discriminate between our clients and genuinely try to assist them as quickly as we can, even if they sometimes make this difficult for us.

We have detailed logs of your correspondence with us and can readily provide them to prove what we have stated above. Rest assured that the matter that you initially contacted us about can be easily rectified, as long as you can muster at least a modicum of patience and understanding, and allow us to help you.
rick,
chicago, USA,
Dec 26, 2017,
Guest

hey guys. i live in the U.S. and deal with their nanny-state regulations. this is why i was drawn to lmfx. i have been trading live with them since june 18th and so far everything has been perfect.

the account set-up was easy, my wire transfer deposit was smooth, and the trading has been excellent- in that my account balance reflects my skill or lack of on a trade-by-trade basis. no issues out of my control.

the customer service has been prompt, polite, and professional.

the only thing that i haven't done yet is withdraw money; so i can't comment on that experience. time will tell. i actually did, however, live chat with them about some of the withdrawal issues posted here, and the representative did put my mind at ease. but again, i'll know first-hand someday.

in summary, i love these guys. so far it's been great. i just wanted to post that because it may be helpful to somebody on the fence choosing lmfx or not to hear comments other than people complaining. i hope to deposit more money soon and trade heavier volume
 
USA,
Jan 5, 2018,
Registered user

LMFX rocks!

I made my first withdrawal request on LMFX 2 days ago. I gotta admit, I was worried and scared. I just gave them the benefit of doubt and crossed my fingers. Yesterday, I got an email that my withdrawal request has been processed and that my account will be credited within 2 to 10 working days. But barely 12 hours later, I checked my account balance and saw my money right there looking at me. Nothing gives more joy than trading and getting profit and withdrawing the profits and actually getting the money.
LMFX is for real. I can now say that confidently. Now, I can relax and trade. They should keep this quality of service up and they'll go places. Peace out!!
 
USA,
Jan 6, 2018,
Registered user

I been with trading for LMFX for a few months now and haven't had much problems with the platform or trade execution , but I did experience some level rudeness from customer service which made me want to stop dealing with LMFX, but continue to trade because of the leverage.

I decided to stop trading with this company due to recent complaints about the long withdraw times and a few traders complaining about not receiving there funds within the time specified.

Nov 17, 2017 - 4 Stars I been trading with LMFX for about month or two and for the most part, things have been good. I do have a problem with their customer service... It sucks! They do absolutely nothing besides tell you to e-mail support.

I'm giving them 4 stars for the products/platform.

 
Reply by Maria LMFX submitted Jan 9, 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 our Live Chat and Phone support team is meant to answer client queries regarding the broker and assist them in matters that can be quickly resolved. If they deemed that your case was beyond their authority or control, they would have indeed advised you to send an email. This allows our other colleagues would be able to examine the case in detail and take the necessary actions in order to assist you.

We pride ourselves on our quick response times. We strive to answer all queries via email within 24 hours at the latest, with our average response time being about 1-2 hours, depending on the case. If you provide us with your LMFXconnect ID we will be able to tell you exactly how long it took us to send you a reply. We believe the results will speak for themselves.
Chicago, Illinois, USA,
Jan 13, 2018,
Registered user

$6K loss from failure to execute order

I opened an account with LMFX on 1/2/2018, account 46237 if that helps anyone confirm my review. I have been trading currencies for some time and have other accounts with larger firms as well as one large firm in Canada.

After opening my account I proceeded to make sure all of my information was confirmed and uploaded all needed documents to make sure to avoid any issues with wire transfers. I then proceeded to make a wire transfer to fund my account for $10,000 which is a nice amount to start with, I was also planning to make another wire for the same amount to help keep my overall account equity above needed minimums.

So the wire transfer went through and I received the confirmation on 1/11/18. So I began trading and at first was fairly happy with the results, I made a nice tidy profit within the first couple trades and all was going great.

Until I placed an order for EURJPY on the short side, all was going well up until I tried to close the order. After trying multiple times to press the close order button as well as other methods to close out the order I was unsuccessful. I did almost everything in my power to try to close the order but the darn order wouldn't go through. I even placed other orders in the same pair to try to see if it was a constant problem, but all other orders executed and closed without a problem.

fast forward 2 1/2 hours and I was finally able to close the order, the only problem is that the had gone from being a break even trade to a $6k loss. So I am left with nearly half of my original deposit wiped due to a single issue with the broker.

I reached out to support and this is the email they responded with,

"Thank you for your request.

We investigated your case and everything appears to be OK with the execution of your trade. Keep in mind that you were trading very large volumes in a period of very low liquidity. You were trading EURJPY during a time when neither EUR nor JPY were in session and you were trading very large volumes. It is likely that there wasn't enough liquidity to fill your orders.

Keep in mind that LMFX is a No Dealing Desk broker. This means that trades our clients make are sent directly to the market without any intervention on our end. Thus, we cannot take any responsibility for the conditions of the market and the effect that adverse trading conditions may have on our clients' open trades.

In conclusion, we have determined that the situation that you are describing is due to the extremely low liquidity at the time and the large volume of the trades you were trying to close."

While I understand their explanation, it seems like a long stretch to say that selling only 25 lots near the end of premarket hours could not execute due to liquidity. Also keep in mind I made a few other trades while this "liquidity" issue was going on for the same amount of lots (25 lots each) without a single issue.

To be honest I was really looking forward to dealing with this broker and also requested to have another $10K - $20K wire sent over after a few weeks of trading.
Unfortunately with orders that do not allow me to exit a trade I cannot stay with a broker that allows that to happen to their clients. I tried my best to hopefully come to an agreement with LMFX to remedy the situation but unfortunately as stated in the email I was unsuccessful in doing so.

While I do not wish to bad mouth any broker, my best advice would be to avoid any broker that allows something as blatant and drastic as this to happen to their clientele.
 
Reply by Maria LMFX submitted Jan 17, 2018:
We are sorry for your losses, but as stated in the message that my colleague sent you, they are not due to something that we as a broker did or did not do. The matter of fact is that you were trying to trade large volumes of currency (25 lots is considered quite large a volume by most standards) at a time when the liquidity was at its absolute lowest- between the New York and Sidney sessions. We at LMFX are a No Dealing Desk broker. This means that any trade our clients make are sent directly to the marker for execution without any interference on our end. You had other trades indeed, but all of them were opened during market hours when the Tokyo session was open, providing enough liquidity for your JPY trades.

To summarize, you were trying to scalp with large volumes during unfavorable market conditions and suffered losses as a result of your trading activity. While we sympathize with the situation, we as a broker cannot take any responsibility for your choices as a trader.

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.