LMFX Review

3.368 · 126 REVIEWS
Updated: Nov 19, 2020 · LMFX.com  · Is this your company?

LMFX is a forex broker. LMFX offers MT4 and Mobile top forex trading platform. LMFX.com offers over 45 currency pairs, indices, commodities, cfds, metals, share and oil for your personal investment and trading options.

LMFX

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $50
Established: 2015
Address: 28 Koco Racin Blvd., 1000, Skopje, North Macedonia
Contact: support@lmfx.com, +44 2035192105
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (45+)
Cryptocurrencies:
CFD: (55+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill, VLoad
Withdrawal Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill

Live discussion

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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.
Nebraska, USA,
Mar 6, 2018,
Registered user

One of the best brokers

I have been with LMFX for about 6 months and they are top notch. If I call the US 800# I get a quick response and helpful service. Withdrawals are easy to do within the connect account on-line once you know how to do (a customer service person walked me through the process). I get good fills even in times of fast moving markets. My connect account # is 32501
 
Nguyen Tuan Anh,
Ho Chi Minh, Viet Nam,
Mar 26, 2018,
Guest

Fast payment and multiple account type to choose

I have tried several forex brokers before coming to this broker and I had a pretty good experience with LMFX, the account verification process is quite prompt and withdrawal within 24 hours. I used CC + Skrill for deposit and withdrawal, all are processed within day with notification email. There are 3 account options for you to choose from, they are variable, fixed and zero spreads. No crypto but their spread of major pairs are quite tight (<1.5 EUR/USD). I highly recommend this broker!
 
USA,
Mar 29, 2018,
Registered user

Stay AWAY. LMFX will STEAL YOUR MONEY

LMFX is borderline, if not, CRIMINAL.

Firstly, to get an idea of the type of broker you're dealing with, take a look at their responses to all these negative reviews. Its a constant "Nothing is our fault" attitude, even after repeated, separate complaints. Even when Maria (LMFX Rep) has no idea who the client is or what the review is involving, she claims that its the clients fault because her "excellent customer support is never wrong".

LMFX downright stole the money out of my account. I trade using MT4, the MT4 that their website provides a link to and that they have smeared their logo all over (which they deny having anything to do with). When I signed up for an account, they offered a deposit matched bonus, so I accepted. I read through the terms of the bonus, where it says that the bonus is meant to used for trading, but cannot be withdrawn or lost, fine. Everything worked ok at first. They're servers are EXTREMELY slow, but I dealt with it. This week I set up multiple large trades, but kept a close eye on my margin levels and calculated my trades to remain above LMFX's 20% margin close-out level. MT4 makes it extremely easy to track your margin automatically, and thats what I relied on. During the trade, prices dipped briefly and then recovered, all the while my account stayed above the required margin % and well above where I set my SL's. The prices ended up hitting my targeted TP's for a very healthy, 50% overall profit. But lo-and-behold, when I checked my account, I had a $0 balance. Apparently when the prices dipped LMFX emptied my entire account balance. When I sent them an email asking what had happened, Maria responded, saying that I had hit the 20% margin, the trades were closed out and that they decided to confiscate the bonus they had offered. I responded that my account never hit 20% margin, I never received a margin call, and my account actually stayed well above 20% margin. I then received a response from some other rep who said that the trades were actually closed out because I had accepted their bonus offer, so they calculated the margin levels based on their own personal whims rather than the numbers that MT4 calculates, or the numbers that LMFX's website show. So the entire time I was trading in MT4, I was watching Balance, Equity, Free Margin, and Margin %'s that were all completely different than what LMFX bases there policies on. The same MT4 that they smeared their logo all over, has unreliable numbers. I've emailed them telling them that providing margin numbers that LMFX has no intention of adhering to is unacceptable, but surprise surprise, I've received no response. Stay far away from these guys. They'll steal your money at the first chance they see.

Now, let me put my fortune telling cap on: Maria will come on here, claim she doesn't know anything about this because I wont post my account information on a public forum and then proceed to call me a liar and deny that they are anything but honest and upstanding brokers.

Seriously, there are much better brokers out there.
 
Reply by Maria LMFX submitted Apr 2, 2018:
Dear R3dk1ngs,

Please allow me to politely disagree.
First of all, while such public platforms as FPA do not provide us much information to start with, and despite the fact that a number of the complaints do not contain client IDs, we still diligently review each and every case individually and address it as such.
As you have also not provided any client number, we have managed to identify you in our system and I will begin addressing your complaints one by one.

1. LMFX does not steal money from its clients. As an STP/ECN broker, we provide a convenient service that traders may use to access FOREX trading. Our NDD model ensures that we have no interest in dissatisfied clients since we profit from traded volume and not net deposits.

2. The MT4 platform is provided by the Metaquotes company for your own convenience as this is, by far, the most popular trading platform, which brings stability, familiarity and connectivity to different types of 3rd party services and add-ons, which have been built by the trading community over the years. Like most brokers, we are allowed to use our own logos and trademarks with said platform, under a lease from the developers.

2.1 I would kindly ask you to state during which periods and trading which currencies or instruments did our MT4 platform perform slowly? We pride ourselves with a very quick and accurate execution, which can be proven by the large size of clients who entrust their trading funds with us on a daily basis.

3. Regarding your main complaint, I will restate again everything that I, as well as a few of my colleagues, have told you via email already.
As you personally stated, you chose to use our deposit match bonus. This action has to be consciously done as you have to manually select said 100% bonus during your live account opening process and you specifically need to agree to the Terms and Conditions that are also readily included in that page. The bonus itself is very straightforward, but you need to pay attention to a few important points: The bonus funds are immediately added to your account when you deposit funds into it as extra leverage for your trades, but the bonus funds themselves cannot be lost in trading. In other words, if the equity of your own account goes below the match bonus, the bonus is removed automatically by the system and we may not be liable for the consequences of this removal, including any stop outs. Furthermore, in the case of selecting the 100% Credit Bonus there is no margin call alert.
I feel that I need to restate what the bonus is for and is not for: the bonus is for leveraging your account and it allows you to trade more that you would normally be able to with your own funds. The bonus, however, does not provide additional equity and it will not maintain your open positions without additional funds.

Lastly, I would like to state publicly that we have replied to each and every one of your emails, despite the fact that a lot of your messages contain profanity.
You are right about one thing, I am replying to this message right now because communication and honesty are what our company is founded on.
Moscow, Russian Federation,
Apr 5, 2018,
Registered user

Withdrawal of funds (via Wire Transfer) takes took long, but good broker in general.

Finally receive my funds today (3 April 2017). Oh boy, that was one long nerve-wracking anticipation, but at least money really reached my bank account. Therefore… I reckon, that'd be fair to change my review rating. As it was mentioned before, LMFX (in my opinion) actually has nice service and trading conditions, although 1-month anticipation for withdrawal (via Wire Transfer) is still too much...

Mar 30, 2018 - 1 Star I'll try to make it short.

02 March 2018: LMFX confirmed (by email), that my withdrawal request has been proceeded and my funds (2000 USD) have been sent (via wire transfer) to my bank account.

30 March 2018: Almost one month passed (20 working days). No incoming transactions from LMFX so far. I'm still waiting for my money like Hachiko.

Epilogue: LMFX support says they've sent money. My bank says they haven't received money. Money just went and vanished somewhere like ninja.

Seems like representative of LMFX takes into consideration, what people post here. Seems like some FPA members and guests (with same issues) who left a review here, got their money back afterwards. Maybe this will help me get mine too... that would be wonderful.

Overall, LMFX actually has nice service and trading conditions, but I think it doesn't really matter much, if you can't get your funds back.

I'll keep you updated.

My LMFXconnect ID - 30542.
 
USA,
Apr 7, 2018,
Registered user

Great Company

This is an amazing broker, i withdraw on Friday's and receive my withdraw by Tuesday(due to the weekend) they have great customer support and reply almost immediately, I see here people leaving awful comments about the company because they obviously do not understand the concept of investing and trading the forex market or do not have patience either way I have been a client at LMFX since 2016 and have never had any issues, I highly recommend this broker. -Joseph Smilie
 
Trung Tin,
Can Tho, Viet Nam,
May 4, 2018,
Guest

Good forex broker

I opened live account with this broker 2 years ago ( 2016), there were some struggles with my verification process, I didn't have a utility bill at that time and had to asked cable company for a copy so it took 2 weeks to complete the process, but on a positive note i think its a proper security measure. Fast execution and tight spread with major pairs. Good support with Live chat on-site. Withdraw request is processed in 24 hours (request today afternoon and get fund next day at lunch). LMFX is quite reliable to trade. highly Recommended.
 
US, USA,
May 12, 2018,
Registered user

STAY AWAY

MAY 1ST wire transfer started . Received Transaction Completed Email but NO WIRE TRANSFER TRANSACTION NUMBER. THEY CLAIMED THE BANK THEY USED TO COMPLETE THE TRANSFER TAKES 3 -4 DAYS TO PROVIDE THE TRANSACTION NUMBER. Never received it OR MY MONEY. ITS MAY 11. I DONT EXPECT IT EITHER. SO GLAD IT WAS A SMALL AMOUNT.
 
Reply by Maria LMFX submitted May 14, 2018:
Dear Mardun,

Allow me to disagree.

Yes, your Wire Transfer withdrawal was processed from our end on the 1st of May and our backoffice department did in fact inform you regarding this matter accordingly.

I would like to remind you: the website clearly states that withdrawals via Wire Transfer take between two and fifteen business days. The Back Office department also informed you of this in their confirmation email. From that point, you requested the Wire Transfer transaction number on 08.05.2018 (you conveniently failed to mention when you requested the Wire Transfer transaction number), despite the fact that you were, and still are, for that matter, within the „fifteen business days“ time frame. We agreed and informed you that it would take three to four business days to retreive the information you requested from the bank. Despite that, not three business days later, you wrote a negative FPA review without allowing us the chance to get back to you with the requested information.

As it stands, your statement on this public forum is untrue and it was posted in spite of our willingness to cooperate with you. We will still be providing you with information and services as quickly and as professionally as possible, but we ask you to collaborate with us in return. We would also like to remind you that we have detailed logs of our communication with you and will readily provide them to back up everything we have stated in this reply.

Please note that a „business day“ is considered every official work day of the week (excluding holidays and weekends). Another common term would be „work day“.

Given the above statements, we kindly ask that you correct this review as soon as you receive your funds in order to cease and desist any defamatory statements, as well as the preserve our good client-company relations.
Calvon,
Texas, USA,
May 15, 2018,
Guest

Honest LMFX Review

Acct#25996
LMFX isn’t a bad broker. They have their pros and cons like every other broker out there. Deposits are extremely quick but withdrawals are EXTREMELY slow. Before they removed the credit/debit card withdrawal option, withdrawals took anywhere between 3-5 days. So if you withdrew funds at the beginning of the week, your funds were sure to hit your bank account by the end of the week. The wire transfer withdrawal is a completely different ball game. Takes FOREVER. I made a withdrawal via wire transfer sometime in April, my withdrawal was processed and approved on May 2nd. Today is the May 15th and I’m still waiting(as “they say” 2-15 “business days”). But whatever, I just don’t understand how LMFX so readily accepts our deposit but are SO SLOW with our withdrawals. Just seems a little one sided if you ask me. I still trade with them because at least they don’t downright steal your money. So yea, that’s my honest review of LMFX.
 
Reply by Maria LMFX submitted May 17, 2018:
Dear Calvon,

Firstly, we would like to thank you for your honest review of our Brokerage and services. Such reviews always lead to improvements.

That being said, I would like to discuss the Wire Transfer withdrawal timers with you (and our customers reading this forum), so that you are informed and to explain the situation in detail.

We do understand the frustration and concern in regards to the „fifteen business days“ time frame on withdrawals. This is not due to our Brokerage firm, however, but due to a variety of factors – mainly the withdrawal amount and the processing time of the intermediaries. By all means, this is not a direct transfer.
Also keep in mind that during that period, the banks which took part in the transaction itself had holidays, which also affected the processing time.
I would also like to add that we have not removed the card option for funding. We are simply under extensive maintenance which is expected to end very soon.

Trust us when we say that we are looking for improvements on a daily basis. The Wire Transfer service will gradually improve, over time.
Abdul Basit,
Rawalpindi, Pakistan,
May 16, 2018,
Guest

Last six months consecutive trading experience approximately and everything seems to be working fine

I had opened account last December and it's been pleasure trading with lmfx broker's trading platform. The trading is smooth and easy to execute trades.

Spreads plus leverage combo is also acceptable which can yield higher profits even if used for scalping.

Documents which they required were easy to provide. The withdrawal process will not work until ID account is verified. I made few withdrawals so far and they were always on time.
 
John,
New Jersey, USA,
May 18, 2018,
Guest

Withdrawal and Deposit concerns.

I've been with LMFX since November. Their deposits enter the system and your LMFX wallet extremely quick!!! I just hope that the zoompay/debit card/credit card comes back soon! And when it does, deposit and withdrawal via zoompay. I withdrawal with my debit card, when the option was available, and it hit my bank within 2 days. I'm VERY skeptical on the wire transfer method via deposit/withdrawal. I've heard from many friends that they've screwed up the withdrawal process via wire transfer. Let's hope they keep on improving!!!
  1 trader has found this review helpful
mohammed,
canada, Canada,
May 31, 2018,
Guest

scammers

they are active my buy limit trade order manually with out hit the price and stolen my balance
 
Reply by Maria LMFX submitted Jun 5, 2018:
Dear Mohammed,

Even though you did not choose to include your LMFX connect ID (registration number) or any details of significance to back up your claims, we are well aware of your case and would very much like to disprove your statements.

Let us begin with the following – you provided a screenshot of a trade order you claim was not executed properly to our Support, Sales and Back Office departments. You were promptly answered within an hour by our agents, explaining why your order was activated and closed with great detail. The evaluation was quite simple – you claimed that you initiated a Buy Limit order. The system logs, however, clearly showed that you manually opened the order. This is also backed up by the fact that your previous trading behavior also shows this tendency – opening trades before World Economic News to take advantage of the rapid market movements during those times. However, in this specific occasion, the market did not go your way and you were stopped out. We also reminded you that you never placed a Stop Loss or Take Profit options on this specific trade to protect your balance.


All in all, the situation was adequately handled by our representatives with all due professionalism. Our agents provided you with logs, screenshots, and MT4 data to disprove your claims. You, however, decided to respond with threats and posted a review here, on the FPA forum, to degrade our reputation.

I would like to remind you that we are very willing to provide all our communication and system logs, which will undoubtedly prove the truth of our statements and the evaluation of your trade. Just say the word.

We would also like to state that despite the claims made here, you continue to deposit funds, trade with us and use our services on a regular basis, which, if anything, proves the inadequacy of this review. We would be grateful if you correct it, so that it reflects the truth, as is proper.
Annapolis, USA,
Jun 12, 2018,
Registered user

Good broker

I joined this broker 3 months before and as a new trader this is my first Broker who I work with. Withdraw and deposit is very easy. My first withdraw was 100$ by wire transfer which took 6 days. customer care is very very helpful.
 
Najam Saeed,
Islamabad, Pakistan,
Jul 6, 2018,
Guest

I managed to get my another withdrawal two days ago, the whole process took around 24 - 36 hours through my wallet service (still), most my withdrawals take the same time on average, well most my online trading are done through these services, lmfx is offering a good set of services, noticeably the good spreads and well I would say stability and execution is good too, all within expectations anyhow. Scalping is done easily and the same goes for swing which many would find suitable. I would like to see more expansion in the upcoming months, maybe more assets to trade and more options for withdrawals but I have no complains. My total live trading is about nine months premium account.
 
Jack,
London, United Kingdom,
Jul 17, 2018,
Guest

Bs

Firstly they dont tell you when they maintaining the site. So you are then left in a sticky situation if you need money out. Then they tell you they didn't know there was gonna be a maintenance. There communication is also shit with clients as they just copy and paste response without even reading the question
 
Reply by Maria LMFX submitted Jul 19, 2018:
Dear Jack,

Thank you for your feedback!

We at LMFX diligently review each and every case individually and address it as such.

Please allow me to politely disagree with you.

Contrary to your statement, our website clearly stated that a scheduled maintenance will take place and that we do not have a precise time frame for its completion.

The purpose of this maintenance is to improve the speed and quality of our services and we sincerely apologize for any unintended consequences. Please understand not all cases may be resolved immediately and such problems take time to get resolved.

The entire LMFX team is working around the clock to resolve any lingering issues as quickly as possible.

Regarding the questions that you contacted one of the members of our team about, let me say that they were obviously related to the maintenance process and I’m afraid you cannot expect that you will get a different response than the one announced on our website.
Ahmed,
Los Angeles, USA,
Jul 23, 2018,
Guest

Too long maintenance..

I am sorry but what kind of maintenance is this that has taken almost more than 1 week? Scheduled maintenance is something that takes 12-24 hours, top 2 days.. It's been more than a week? What's happening? You're losing your credibility and trust.
 
Reply by Maria LMFX submitted Jul 23, 2018:
Dear Ahmed,

Thank you for your feedback!

We completely understand your frustration and we sincerely apologize for the inconvenience you experienced.

As stated below, the purpose of this maintenance is to improve the speed and quality of our services and we are doing our best to resolve any unintended consequences.
Unfortunately not all cases may be resolved immediately and some problems take time to get resolved. We can assure you that the whole team is absolutely dedicated to restore the whole process as soon as possible.

Thank you for your patience and understanding! We do appreciate it!
Kumar,
USA,
Jul 24, 2018,
Guest

I see in one of their reply in May 2018 that they were going extensive maintenance of zoompay and it will be resolved soon. Today is July 24th, still zoompay is not available! Did their staff who started maintenance left LMFX and left maintenance to be completed never?
 
Reply by Maria LMFX submitted Jul 26, 2018:
Dear Kumar,

Please understand that "Zoompay", our card processor, is a third party company which is not under the control of LMFX in no way, shape or form. We merely use their services in a way to facilitate payments via Debit/Credit cards. That said, the maintenance is on their end, not ours. While some clients would find the lack of this convenience troublesome, it impacts us even more. We do constantly evaluate new options, but we are only prepared to implement a new solution if it meets our high standards and only if we are confident that this is the right step for the company and our clients.
In the meantime, customers are encouraged to use the host of other options or site offers. US clients in particular may choose to deposit either through Bank wire or Vload.
Zach,
USA,
Jul 25, 2018,
Guest

Amazing customer service and low spreads

Website is a little buggy at times and spreads are not the lowest ive seen but they are definitly as close to 0 as you can get with spread based commission. Customer service is amazing and answers any questions almost immediatly. They are unregulated but because of the customer service i feel like i can trust them with my account for the upcoming years.
 
MARYLAND, USA,
Jul 27, 2018,
Registered user

FMFX IS A SCAM

This company is a scam .. On the demo platform copy trading is allowed , but as soon as you open a live account they will block you from copy trading... I finally requested to return my money back ...these people will ask you some documents and refused to tell me that my bank statement is needed also and told me that my request has been received and it will take up to 10 business days to process the transfer... Guess what ? they waited for up to 2 weeks to send a new email that I must send my bank statement otherwise they will not send my money .. These people are just an other source of fraud .. Please stay away from these people otherwise your money will be stocked...
  1 trader has found this review helpful
Reply by Maria LMFX submitted Jul 30, 2018:
Please allow me to politely disagree with your above statements.

Copy trading is allowed on both in Demo and Live environments.

You claim you have experienced some kind of issue when attempting to set your software (trade copier) on your MT4 platform. Yet there are no complaints on that subject in our support (or any) inbox. We would have happily assisted with any issues you may have had, but, once again, you decided not to share your issues with us or request assistance. You could have done so at any point in time via our live chat, via email request or via phone conversation. We pride ourselves on our support services and the speed in which we handle requests. All in all, you left our helping hands tied by choosing not to share any information with us.

What you did decide to share with us is your unwillingness to go with our account verification procedure, which is required in order for you to gain access to deposit methods and perform withdrawals. I would like to remind you that this verification is mandatory and you are required to agree upon it when you register your account with us. So, surely, you must have known of these requirements. Bear in mind that these terms and conditions are readily available on our website at all times.

I would like to further state that each request for these documents was met with heavy resistance on your part. Despite numerous explanations why those documents were needed, you continued to dispute each and every one, claiming we were requesting those documents to, and I quote “make things hard for you”. That is most certainly not the case. Those documents are required as per international Anti-Money Laundering requirements and procedures.

I would also kindly remind you that the only reason why the withdrawal request lasted as long as it did, is due to your unwillingness to cooperate with us. Had you provided the documents the day they were requested, this delay could have been avoided.

I would also kindly remind you that those documents were requested several times, not once, as you claim. You were also contacted via phone numerous times by our representatives, due to the fact you were unresponsive in email communication. Those calls were met with foul language and screaming on your part, and that is well documented. While we always try to understand our customers and put ourselves in their shoes, your behavior towards our representatives was highly uncalled for.

All in all, we at LMFX never want to hold funds from our Clients for a prolonged period of time. To make verifications smoother, we encourage all of our clients to contact us and ask questions, should they have any. Assistance/information will not be denied. That being said, we can do very little with clients who do not wish to cooperate with us.

We have logs of your correspondence with us and we can readily provide them in order to prove our statements, should you desire.
Soithern Africa, Lesotho,
Aug 16, 2018,
Registered user

I recommend this broker with less spread.

I have been with this broker since the year 2016. They are perfect! Yours is just to use the same account you deposited funds with when you do your withdrawals. Same day with Visa electron! And moneybookers.

Aug 9, 2018 - No Rating I have been using this broker for 3years now and I have a team of 32 traders. I also have MOU with this company as a partner. They are excellent! Withdrawals are fast through Skrill.

Apr 5, 2018 - No Rating I joined LMFX.com since the year 2016. There is no broker that offers its clients so much like those guys! I have been using their deposit match bonus and working with confidence under a very good leverage and spreads of 0.02 pips. They process payments within seconds when using Skrill account for transactions and few days in other methods of payments and deposits depending on how fast is your bank to process external deposits to your bank account. So far me and my eight teams of traders are prospering under this best offers,
 
David,
MA, USA,
Aug 20, 2018,
Guest

No communication, untrustworthy broker with often times bad data

I routinely enter the learn & earn contest and this month I have been able to achieve a high % return. I contacted the customer service asking about the past month's results since their website was not update since January 2017 (today is August 20, 2018), and they told me maintenance is working on it and the contest is not ongoing. No communication was sent to their customer and their maintenance takes over a year to resole this problem, which probably means that if you need to make a withdrawal you will only see it maybe a year from now. Making deposits also is not any easy task as you have to deposit it into main account and then into you trading account. Their data is often times off when compared to other brokers (such as FOREX.com, who is currently my current broker and so far the best broker I've dealt with, even with the 1:50 leverage) I would not recommend LMFX at all. Here is the transcript for regarding the contest topic:
Me: "Hi, Is there a place I can check the results for the learn & earn contest from last month, the website does not seem to be updated. And if any money in the contest can be withdrawn after a certain number of trades are made?"
LMFX: The learn and contest is currently on hold due to the maintenance. When we have any news we will update the website."
Me: "So at the moment the trades I am making on this account are for nothing there will be no winners this month?"
LMFX: "We are working on it. As soon as it is back on it will be updated on the website."
ME: "The website has not been updated since January 2017, it does not state that the contest is not on going. If this company takes longer than a year to do maintenance than this is bad. You should notify your customers that the contest is not on going and provide some type of credit to them for not providing information. I don't think I will be using you as a broker."
LMFX: "The management is working on it."
 
Reply by Maria LMFX submitted Aug 23, 2018:
Dear David,

Please allow me to politely disagree with your above statements.

Let me begin with your claim that there was no communication. There are news being posted on our website in regards to maintenances, and events concerning the company, that you could find here: https://www.lmfx.com/en/about-us/company-news.html
Also, we have sent a global email to all of our clients, with a notification about the maintenance.

The maintenance was extensive, yes, and quite necessary in order for us to improve our services and processing times, and I am happy to announce that we fulfilled our goals in that regard. One should also bear in mind that all companies go through scheduled maintenances, us included.

The contest itself was under maintenance, necesasry for improving the algorithms of the contest and to make sure that there were no incorrect results. We, as a company, would rather halt the contest to make sure it opperates correctly, than have it running in an imperfect state, that could cause further conflicts.

As for the date January 2017, that was the date automatically set by the servers, however as the maintenance has finished, I can assure you that the contests will resume starting next week. Also please do keep in mind that January 2017 is not the date the maintenance began.

You also mentioned withdrawals, which I can assure you are being processed properly within the time frames for each method.
If you personally have any issues with a withdrawal, please address us directly or at least provide any follow up information, otherwise we are unable to investigate mere allegations.

It seems that you are misunderstanding the process of transfering funds from the wallet to the trading accounts. That mechanism is in place, to make it possible for our clients to transfer funds into their desired trading accounts. Our clients can have up to 5 Live trading accounts and 3 Demo Trading accounts under their LMFXConnect account (LMFX website registration). Having control over which account the funds that our clients deposit is made possible by this precise tool.

I would also further like to state that the entire process of funds transfer takes a total of three button clicks and is quite intuitive and easy to do. Even if a client has trouble with the transfer of funds, he/she can always count on our support representatives for assistance via phone, live chat or email correspondence.

Please, do not forget, that different brokers have different liquidity providers which leads to them having different feeds.

And lastly, I would like to state that the supposed conversation you provided can not be a transctipt that belongs to our company. Our employees, never enter a chat under the company's name, nor would any of our representatives give such vague answers. Thus, this transcript can not possibly be considered legitimate. If you happen to have a legitimate transcript, you may provide us with it, as well as the name of the representative that has participated in that particular conversation.
Jason,
Esqueta, Philippines,
Aug 24, 2018,
Guest

Pleased

I have joined LMFX recently with a live trading account started in March of this year. This review would be based on my actual experience of the broker first hand. opening an account has a good degree of security, documents and verification is done accordingly. The trading environment is neutral I mean MT4 is the same, response time is decent, one thing I like about them is the spreads especially on eurusd, most my trades are done on this pair its been quiet a ride for the past couple of week, noticeably in the last 3 days or so, I hope it did not hit the bears hard. The 1.13 mark was tested but bounced back after a long 4 week run for the bears. most my trades are swings and rarely do I scalp. Recently I was able to make a decent withdrawal after some success in buying this pair. This last withdrawal in particular was a little larger than usual and I did make a good profit and never the less I got my money through skrill with in two days or less which is always a sign of a paying broker. There are occasional maintenance which I don't mind since I take forex trading as a side line to my regular day job. I am giving them 4 stars keep 1 for future updates, I hope to see more from lmfx in the near future.
 
Darren Burks,
Raleigh, USA,
Aug 28, 2018,
Guest

LMFX Decent- Withdrawals are slow

Hi, I have been trading with LMFX for an about 6 months. I am very pleased with the spreads they provide. The only problem I have is that i have withdrawn $3700 from them and still haven't received my funds and it has been over a month. As a US client trying to withdraw profits it is very frustrating that I feel like my funds have disappeared after I have talked to the back office a handful of times.

I have sent over ten of my friends to LMFX, but I am hesitant on telling people about it now due to the situation I am in. I understand delays, but I have no confirmation of where my funds are and that is scary for me.

On that note, I hope I get my funds soon as I don't want to switch brokers, but I might have to.
 
Reply by Maria LMFX submitted Aug 30, 2018:
Dear Darren Burks,

It is very unfortunate that this issue has spoilt the otherwise good impression you had for our company.
The two withdrawal requests you made with us (1,000$ and 2,700$) are being addressed and we will do everything possible so that you may receive them without any additional delays.
As I have mentioned in the previous post, all current delays are due to implementing new banking solutions. This is necessary for the sole reason of ensuring a more smooth and overall better withdrawal experience for our customers.
For any financial related issues, do not hesitate to contact our backoffice department via email: backoffice@lmfx.com
Kai,
USA,
Aug 29, 2018,
Guest

Please do not waste your time with this broker I am going to tell everyone I can to not do business with them. I don't know where my money is but its been over a month since I requested a withdrawal via wire and I didn't even make money. I lost on a trade and decided to withdraw the the rest
Long story short its been over a month with no proof from their bank they sent out a wire to my bank. My branch manager Gave me the harsh reality first of all it was offshore second of all no reference number or proof of an outgoing wire into my account? Not gonna waste my time hut just take the loss also they ignoring my emails no point in hoping for my money back very disappointed
 
Reply by Maria LMFX submitted Sep 4, 2018:
Dear Kai,

Thank you for you feedback! Once again we apologize for the inconvenience that you experienced.

As mentioned in the previous posts, all current delays are due to implementing new banking solutions. This is necessary for the sole reason of ensuring a more smooth and overall better withdrawal experience for our customers.

I can assure you that your withdrawal was properly completed and sent on our end and it should be with you in a day or two.

For any financial related issues, do not hesitate to contact our backoffice department via email: backoffice@lmfx.com
New York, NY, USA,
Aug 30, 2018,
Registered user

Withdrawal process is SLOW for anyone in the US - STAY AWAY

LMFX ID (42587)

I've been trading with LMFX since February of 2018. There MT4 Platform and customer service are excellent and I never had an issue with them on that end. However, one thing that is seriously disappointing with them is the withdrawal process!

In the first few months before the dreadful "wire transfer" process came, getting your money was not an issue. In fact, you would receive it within that same week that you requested it (via Debit/credit card). Over the course of the summer, LMFX changes the withdrawal process for US clients and the only way we can receive our funds is through wire transfer (which they assure you take up to 2 -15 business days). On July 31 I received a confirmation email that my withdrawal ($500 USD) has been completed and today is August 30th and I still have not received a dime of my money! I've been communicating back and forth with the back office department, and been getting the same run around that they are waiting for an "update" from there bank on the completion of my transfer. Ironically the last email they sent me was to reassure me that in the history of their brokerage this problem has never occurred, but after seeing other people reviews on this site it clear that LMFX has been doing this to other people.

Honestly, in the beginning, I was happily ready to recommend this broker to anyone here in the US, but after experiencing such an awful withdrawal process I would highly recommend anyone in the US to stay away from this broker until they resolve this issue completely.
  1 trader has found this review helpful
Reply by Maria LMFX submitted Sep 4, 2018:
Dear amcpherson94,

Thank you for your feedback!

I’m sorry that this issue has spoilt the good impression you had for our company. I can assure you that our team is working around the clock to resolve the issue but you need to understand that certain processes require more time and it doesn’t always depend on us.

Please understand that our card processor is a third party company which is not under the control of LMFX and is currently under maintenance but we are working on implementing new payment solutions.

I can also assure you that we have no interest in holding your withdrawal request for a prolonged period of time and these delays are caused only because the company is implementing new banking solutions which will ensure that none of these delays are repeated and the overall cost and satisfaction of the service is improved.

Please note that your withdrawal was submitted and processed on our end without any issues and it should reach you in a day or two.

We kindly ask you to contact our team in case you have any further questions!
USA,
Sep 6, 2018,
Registered user

49 Days and STILL waiting on my withdrawal!

My withdrawal request was processed in mid-July for a rather small amount of money so I figured it would come quickly. It's now September 6th and I STILL have not received my money. At this point I've been waiting 49 days for this.

I've been in communication with the backoffice, but the responses have not been very satisfactory. There is no clear answer about where the money actually is, but it seems to be floating in an abyss. It may reach me eventually, or simply return to them. When that happens, no one seems to know...That's very dissapointing. There's no sort of time frame on any of this.

Reading the other reviews this seems like a continuing trend with LMFX. Now I'm heavily reconsidering returning to trade with them in the future....mostly because the withdrawal process seems to be a big mess. Hoping to get my funds soon, but thinking they might actually be lost.
 
Reply by Maria LMFX submitted Sep 12, 2018:
Dear Jjr07f,
You have chosen not to provide us with any details regarding your complaint.
If you have contacted our Back Office department – the department, responsible for payments, they would have provided you with all the necessary information about your bank wire transfer. Any complaints regarding missing or undelivered funds are taken very seriously and we work hard to rectify them if confirmed.
It is very unfortunate that this issue has spoilt the otherwise good impression you had for our company.
I can also assure you that we have no interest in holding your withdrawal request for a prolonged period of time
As mentioned in the previous posts, all current delays are due to implementing new banking solutions. This is necessary for the sole reason of ensuring a more smooth and overall better withdrawal experience for our customers.
For any financial related issues, do not hesitate to contact our Back Office department via email: backoffice@lmfx.com
Janneeka,
USA,
Sep 7, 2018,
Guest

Terrible broker! Orders are triggered before price hit. Unacceptable and will not be using again.
 
Reply by Maria LMFX submitted Sep 12, 2018:
Dear Janneeka
You have chosen not to provide us with any details regarding your complaint. However, we have managed to find you in our system and review your trading history.
We would also like to advise you that trading related complaints are handled via email only, as per company policy. Should you have contacted us, any agent of the company would have advised you so.
As we have double checked our systems and email in-boxes, we have not received any emails from your regarding your complaint.
Should you wish file a formal complaint regarding your trading activity, feel free to contact us at support@lmfx.com. Please provide us with any details regarding the matter and we will be glad to assist. Screenshots will also be greatly appreciated.

Lastly, please bear in mind that depending on the market execution the Buy and Sell orders are opened at different prices. Buy orders are opened at the Ask Price and closed on the Bid Price, while the Sell orders are are opened on the Bid price and closed on the Ask price.
If you need any further assistance or information, please do not hesitate to contact us.
Alexandra,
Miami, USA,
Sep 9, 2018,
Guest

This withdrawal process is amazingly horrible. I processed my initial withdrawal on 08/10/2018 the received a confirmation from LMFX on 08/15/2018 that it was completed and that it'll take 2-15 working days. 09/15/2018 was my 15th working day and it's now 09/09/2018 and still nothing. I emailed back office and they told me that delays are not uncommon. But that's just ridiculous if you give a time out you need to stick to it. Those so called unforeseen delays should've been included in the time frame. I've seen other reviews where people have waiting over 49 days. Thats sick. And all of their responses say you should receive it in about 2 days in these reviews. Go figure when you've already been waiting for weeks. Then they told me they can give me a SWIFT confirmation for the transfer but it'll take 4-5 working days,-NICE-something that should've been give to me LONG TIME AGO. Not to mention that LMFX doesn't always offer true market conditions but I'm not even going to get in that. LMFX give your so called precious clients their money in a timely fashion.
 
Reply by Maria LMFX submitted Sep 12, 2018:
Dear Alexandra,
We are sorry for the inconvenience which the delay has caused you. We understand your frustration.
The matter has been addressed and dealt with. I can assure you that our team is working around the clock to resolve the issue, but you need to understand that certain processes require more time and it doesn’t always depend on us.
We as a company and brokerage always strive to improve. We were in the process of implementing new payment solutions as necessary in order to improve the client's experience with us.
As of now we have received confirmation that all withdrawals have been dealt with and clients may expect to receive their funds in the upcoming days by the end of the business week.
If you need any further assistance or information, please do not hesitate to contact us.
CA, USA,
Sep 13, 2018,
Registered user

UPDATE, Withdrawal Recieved

Update from previous review:

I have received my funds today. LMFX customer support is by far one of the best I’ve worked with. They explained they were having issues with their bank and it was resolved. Both of my wire withdrawals are in my account ($100) & ($71.898). It took about a month for the whole process. I will wait until they improve their banking solutions before continuing with LMFX.

Aug 27, 2018 - 2 Stars I have begun trading with LMFX about a month ago. I made significant gains and began withdrawaing funds via wire transfer. My first wire ($100) is on it’s 14th working day and the 2nd wire ($71,889) is on it’s 11th working day. I have communicated with the BackOffice and I’m always reassured I will receive my funds however the wait is truly an incredibly long time. 2-15 working days for withdrawals is a huge time frame and I was just told by the BackOffice that it is likely to take longer than 15 working days. So far I am disappointed with the time. I will update my review upon receipt of my funds in my account.

Reply by Maria LMFX submitted Aug 29, 2018 Dear Porter,



We are very familiar with your case. Our backoffice department – the department, responsible for payments, has been in touch with you already as well. Any complaints regarding missing or undelivered funds are taken very seriously and we work hard to rectify them if confirmed.

This said, we would like to invite you to continue our bilateral communication so that we can ensure you can receive your funds in a timely matter.

Please note that while the delay you purport to have for the amount of 100$ has gone over the 15 business days we advertise on our site, the withdrawal for 71898.33$ is still within the time frame, listed on our site.

However, both withdrawals will be addressed accordingly nonetheless. The company is implementing new banking solutions which will ensure that none of these delays are repeated and the overall cost and satisfaction of the service is greatly improved.
 
Sam,
Canada, Canada,
Sep 14, 2018,
Guest

When you add money into your lmfx account it takes a very short period of time, I was able to add in 500 USD that same day. I used a swift code option for this and had to pay the fees for this so when I emailed the back office asking if they are reimbursed they said no I have to pay them myself apparently only wore transfer fees are reimbursed.

I had uploaded all my ID documents and a bank account statement when I opened my account. When I decided to withdraw the money I put it because of general issues with usage of the platform, they kept giving me issues about uploading a specific bank account statement and pretty much gave me the run around where I would go to my bank ask for a statement only to upload it and have it rejected by lmfx and being sent back to get something else? Very unspecifc as to what documents they specifically require from my bank.

It took another 3 days for my withdrawal request to be approved. After i was told 2-15 business days for the wire transfer. Of course it has been over that time limit and I still have not received anything yet.

Contacting the back office is useless as they slap on the typical ‘we are experiencing issues with our bank, typically this does not happen’. When telling them about the 2-15 day policy apparently they do not have to abide by that or any other deadline for that matter.

Terrible platform, would not recommend it, stay away from them use any other broker. They tell you that it is slowly being improved upon yet this has been an ongoing issue.

The response to this from lmfx will also be incredibly cookie cutter and useless with claims that they are working around the clock to have the process done when it has gone past the allocated days mentioned and no compensation is given for this.
 
Reply by Maria LMFX submitted Sep 17, 2018:
Dear Sam,

Thank you for your feedback! Please allow me to disagree with your statement.

You used Vload to deposit your money thus why we cannot reimburse you for any fees because we are not the ones applying them onto you. Keep in mind that Vload is a third-party company and they have their own charges which we cannot reimburse or cover. You are right that Wire Transfer fees are reimbursed to your LMFXconnect account in case client deposits at least 250 USD.

Per our company policy we have to make sure that we are sending the money to the right bank account, thus why we had to make sure that the details that you provided us with and the details of your bank statement are the same and that the information is accurate. This is why there might be some delays during the process.

Indeed there was a delay but we made sure that you get your withdrawal as fast as possible which is also stated in the email that you received from our back office. We do work on improving our services all the time and we take all cases very seriously but keep in mind that there are certain processes that include different institutions and that there are procedures that take time to complete. We managed to find a solution which removes the delays on wire transfer withdrawals. The withdrawal that you requested was completed on our end and it should be already in your bank account. We kindly ask you to double check and contact our back office if you face any further issues.

Thank you!
France,
Sep 17, 2018,
Registered user

LMFX HORRIBLE WIRE WITHDRAWAL

HORRIBLE EXPERIENCE WITH THIS BROKER. I WANTED TO WITHDRAW SOME MONEY LEFT IN MY ACCOUNT AFTER SOME LOSS INCCURED ON MY INITIAL INVESTMENT.

MY WITHDRAWAL TOOK ME ONE MONTH AND HALF, AND THEY KEPT RESPONDING TO ME THE SAME THING (BE PATIENT, THE DELAY IS STILL RELEVANT FOR A WIRE TRANNSFER, BLABLABLA).
AFTER ONE MONTH THEY RESPONDED TO MY EMAIL BY SAYING THAT, ONE OF THEIR COUNTERPARTY FINANCIAL SERVICE MADE A MISTAKE IN THE PROCESSING OF MY WITHDRAWAL, AFTER PROMISING ME THAT THE FUND WILL BE IN MY BANK ACCOUNT IN 3 WEEK.

NEVER AGAIN I WILL BE TRADING WITH LMFX AND ADVISE FOLKS TO DO SO
 
Reply by Maria LMFX submitted Sep 19, 2018:
Dear Rand! Winner,

Thank you for your feedback! Let me add some more details to your review.

As stated on our website and in the emails sent to you on several occasions, Wire Transfer withdrawals take up to 15 business days. This is an international transaction and it takes longer because different banking institutions such as intermediary banks are involved.

You were in a constant communication with our Back Office department and they replied to your emails in a timely manner giving you information about the status of your withdrawal.

Indeed there was a delay but we made sure that you get your withdrawal as fast as possible and we were working on improving wire transfer withdrawals in order to avoid any circumstances like this in the future.

We have never stated that “one of our counterparty financial service made a mistake in the processing of your withdrawal” and if you check one of your last emails sent to you by our Back Office you will notice the actual reason for the delay. Our colleague also notified you that the issue was addressed accordingly.

I’m also confident that you should have received your money shortly after your last communication with our Back Office. We kindly ask you to send them an email in case you are still having trouble with your withdrawal.

Thank you!
Munir Taju,
Layyah, Pakistan,
Sep 30, 2018,
Guest

Four stars for now!

Trading with this broker for sometime now; Lmfx is a good broker in my opinion however not the best one because it has few limitations too which i am sure they will improve for sure. But atleast they do not forcefully close your active trades claiming liquidity problems. Lately i had very terrible experience with another broker which offers crypto. I knew that such crypto products comes up with high risky and volatile profile. But the later mentioned broker usually close most of active positions blaiming liquidity issues. Lmfx trading platform is good so far. Trade spreads are reasonable allowing most of my trades ending in profits though i use tight stop loss.

Besides my mentioned pros here are a few cons which i think should be addressed on some urgent basis if they want to be on my favorite broker's list.

They claim maximum uptime in server execution as well as withdrawal processing but i can say that they should add more withdrawals options like bitpay etc so that we can get our funds more quickly. Server stability is good so far. They should also add crypto trading because crypto is trending like fever these days. I really hope that they will consider my proposal and update soon.
 
Dung Nguyen,
Can Tho, Viet Nam,
Nov 1, 2018,
Guest

Trading for a few months and everything is good

A friend introduced me LMFX and I’ve been trading with this forex broker for several months now. I see their MT4 trading platform is quite stable, I don't see any issue in trading but sometimes execution is quite slow but it's still executed at my expected prices. Variety account options and good responsive support team. Instant deposit and swift withdrawal. Recommened!
 
Joshua,
Prince George&#039;s Park, Singapore,
Nov 19, 2018,
Guest

Credible broker

I have been in Forex field for several years and after some struggles with local broker, I decided to try an international broker. This broker was recommened by many members in a local forex trading forum. For registration, I have to provide 2 documents (ID + Bank statement), then my account is verified and I received a phone call from an account manager. I tried demo for a few days before getting into real trading. Overall, tight spread on eur/usd and gbp/usd, quick deposit and 24 hours withdrawal process and quick support through Live chat. Could say everything is good after 9 months trading with this broker except you cannot customize the demo fund for advanced testing.
  1 trader has found this review helpful
Marco,
Mexico,
Nov 21, 2018,
Guest

Would be cool that accepts cryptocurrency deposit/withdrawal. Everything involved with trading it's good
 
SAMEER SAM,
Islamabad, Pakistan,
Dec 2, 2018,
Guest

Earning possible with this broker

Opeening account wasn't a hassle.just clicked and typed in info required and documets uploading. So far i had noted they offered mt4 which is already world's best software up till now.

Can't say any much about the spreads because they are most likely similar. I only trade 0.01 lots only because this hrlps me chasing small amounts in daily basis. I heard many voices of getting rich by trading high lots but i have no hassle to double but to earn regularly. So i can say that this broker system is good for trading daily.
 
Nick Allan,
Alfonso, Philippines,
Dec 10, 2018,
Guest

Good

lmfx keeps a good track record, very active both in the community and through their support. so far i uave traded a couple of months live. all questions answered, and they did provide the right expectations regarding forex trading which i like. if i was to point out something it would be withdrawal options, i hope there were more available especially locally. maybe in the future.
 
Golden Light,
Sacramento, USA,
Dec 10, 2018,
Guest

Super happy

Ive been with the broker for a while and Ive been having a great experience, live chat will always help you. VPS is working great. SO MANY options even US and UK stocks! So I am super happy with everything and nowadys all people do is complain complain but they never want to put the effort to write a good review EXCEPT me! I am taking the time to express my gratefulness with this broker and I expect long term supplemental income from this venture!
 
Reply by Maria LMFX submitted Dec 13, 2018:
Dear Golden Light,

Thank you so much for your kind words! We highly appreciate it!

The whole team of LMFX stays at your disposal should you need any assistance in the future!

Happy holidays!
Brooklyn, New York, United States,
Dec 11, 2018,
Registered user

LYNISTIX LLC

I made a statement recently about a deposit issue with LMFX in which I was having difficulties depositing funds into my LMFX wallet.... I must've made a typo error when I stated that I used a payment method called "Close"... I used vload and it was vload that was causing the deposit issue and not LMFX... so far LMFX has been a decent broker... i did eventually find their telephone number and was able to call them... so this statement is in regards to my last statement that was negative... and I am now stating that the issue was in fact resolved by LMFX and vload together... so far there is no problems with LMFX... fast execution... decent spreads and huge leverage... I will keep everyone posted on my entire experience with them... but for now... no issues... I am going to be doing a withdrawal soon and will see how that goes... we must stick together in the forex community to make sure everyone gets treated fairly and honorably... bye for now...

Dec 2, 2018 - No Rating So far lmfx has been decent... but today I tried to deposit a $250 using close and the money still has not hit my lmfx account/wallet... I emailed support and no answer... there is no chat box on their site to chat with them about the issue... I tried to call the phone numbers they have listed and the numbers do not work... this makes me skeptical about ever trading with them with a larger amount of money... especially when you cannot communicate with them when there is a deposit or withdrawal issue... this issues is still not resolved and closed has confirmed that money was transferred to lmfx.... something for everyone to consider here...

Reply by Maria LMFX submitted Dec 4, 2018 Dear Lynistix LLC,



Thank you for your feedback!



I kindly ask you to provide your account number in the future when you decide to post such reviews because it is really hard for us to determine whether the information you are providing is relevant or not. We still managed to find you in the system using your name.



Furthermore, we do have a Live Chat service and it is available at the bottom right corner of our website. It is a blue tab which states “Live Chat Support”. I’m pretty sure that it was also available during your attempts to contact us.



I can also assure you that our phone number does work and we have not received any other complaints such as yours so far. Next time, please make sure that you dialed the correct phone number, because misdialing a number will result in an error. Please also note that we do not work during the weekends, like most of the brokers out there, so if you tried to contact us on a Saturday or Sunday, I’m afraid we were not available at the time.



Let me also mention that we don’t have a funding method called “Close”.



I checked your Wallet in our system and I can see that you used Vload to deposit funds on Sunday.



I can also see that your deposit has already been processed and you even made an internal transfer to your trading account.



I kindly ask you to edit your review so it reflects the actual circumstances.



Thank you!
 
Reply by Maria LMFX submitted Dec 13, 2018:
Dear LYNISTIX LLC,

Thank you so much for taking the time to edit your review! We appreciate it!

I am glad that the issue was resolved and that you are still satisfied with our services!

We stay at your disposal should you have any questions!

Happy holidays!
USA, USA,
Dec 21, 2018,
Registered user

Good service. Needs crypto.

Great customer service and a seamless profit withdrawal process, however l, i will not be depositing money with them again until they integrate crypto withdrawals. With the currnt state of agressive regulatory bodies going after payment methods and banks to make sending and receiving money offshore as difficult as possible, i feel the likelihood of having my money stuck offshore one day is very likely to happen. Although this wouldnt be the fault of LMFX (who i trust) i cant in good conscience send my money offshore without the possibility of withdrawal through crypto which is the only reliable withdrawal method these days since it doesnt use banks.

If anyone from LMFX is reading this. I highly recommend adding crypto deposits and withdrawals.
 
Stephen,
Miami, USA,
Dec 24, 2018,
Guest

Charts stopped working at 11:35 am eastern today. Sent multiple emails and have not got one single response as well as my charts still not working. Utterly infuriating at the lack of communication from LMFX. Will never be using them again.
 
Reply by Maria LMFX submitted Dec 26, 2018:
Dear Stephen,

First and foremost, Merry Christmas and Happy Holidays to you and all traders from the LMFX Team!
I would like to point out that trading did cease during some of the 24th and all of the 25th of December and support was also not available at that time for the same reason. If you did contact us via mail I am certain you would have already gotten a reply with an explanation as well.
All markets officially closed at around 18:00 server time. That would be GMT+2 or around 11:00 am EST for you. This affects not only LMFX, but all other Forex Brokers as well.
If you would like to know the exact market work hours up to and including the New Year, please follow this link:
https://www.lmfx.com/en/about-us/company-news.html
This is where we publish all relevant information on any trading changes, schedules or anything else our clients may need to be aware of.
We would very much appreciate it if you can give us and our platform another chance, now that you are familiar with the official Forex operating hours for the holiday season.
Have a great and blessed holiday!

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.