LMFX Review

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

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

LMFX

Broker Details

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

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LMFX.com profile provided by Maria LMFX, Nov 27, 2015


LMFX is an innovative online foreign exchange broker that offers advanced institutional and retail trading conditions to a global audience. We believe in the importance of building strong, secure foundations and the cornerstone of our mission is to provide the full spectrum of cutting-edge trading tools and services that our clients require to succeed in the world’s most liquid market.



Our goal is to deliver an unparalleled trading experience that offers the most competitive trading conditions available to each and every client, allowing them to trade Forex and CFDs on Commodities, Indices and Shares.



At LMFX, we know that our clients need to stay close to the markets and we provide a comprehensive range of mobile and desktop MT4 platforms to ensure that they never miss a market movement. In addition to an advanced trading environment, clients also have full access to exceptional educational resources via the LMFX Education Centre and advanced trading tools that have been designed to improve trading performance.



LMFX delivers what traders in today’s financial markets need the most! From fast execution and deep liquidity to automated withdrawals of trading profits and ensuring funds are deposited securely in segregated accounts, we are on call 24 hours a day, 5 days a week to help our clients with their trading needs.


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3.368 · 126 REVIEWS
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Traders Reviews

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,
 
White Rock, Canada,
Jul 31, 2017,
Registered user

Stop Loss Hunting

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

Jul 28, 2017 - No Rating Hi, Joined LMFX to test their site. So far I'm not impressed with their Dealing Desk Stop Loss Hunting. If things keep up this way I'll be looking for another Broker again.
 
USA,
Dec 22, 2017,
Registered user

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

DO NOT OPEN AN ACCOUNT WITH THIS BROKER. This company has very poor customer service.
 
Reply by Maria LMFX submitted Dec 28, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

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

Here are the facts regarding your case:

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

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

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

We have detailed logs of your correspondence with us and can readily provide them to prove what we have stated above. Rest assured that the matter that you initially contacted us about can be easily rectified, as long as you can muster at least a modicum of patience and understanding, and allow us to help you.
Val,
Utah, USA,
Apr 25, 2020,
Guest

Horrible customer service

Service use: Live

Length of use: 0-3 Months

Every time I chat in or email I get horrible customer service. The agents are very unhelpful and unwilling to give you a straight answer. Leo Jefferson in particular is THE WORST. I chat in with an issue, he then lets me know to email support which I do only to have Leo, the same agent I was chatting with, email me back and tell me that he can’t help me because it’s been over 24hrs. Why not be more helpful in the chat before quickly brushing my problem off and hoping I don’t email in so he won’t have to help me. Has he even taken the slightest concern in my issue he wouldn’t have been so eager to have me email support when he could have helped in the chat. I dread having to reach out to lmfx because this hasn’t been my first bad experience with their customer service.
 
Reply by Maria LMFX submitted Apr 27, 2020:
Dear Val,
Thank you for your review!
Please note that we pride ourselves with extraordinary Customer Service and each case is reviewed with great attention.
Your case is no different and when you contacted our agent regarding a trade complaint he kindly asked you to send detailed information to support@lmfx.com as per Company Policy. We require this step in order to investigate the case and forward it to the proper department if necessary.
We received your email about 30 hours later and you demanded an explanation about your trade.
After a short investigation on our end, you received an update and a detailed explanation about your trade which you can find in your mailbox.
I checked and I see that you only contacted our Customer Support twice and both times you received a detailed answer in a timely manner.
Should you have any questions, feel free to contact us and we will gladly assist you!
Arjan den Braber,
Sint Philipsland, Netherlands,
Aug 15, 2017,
Guest

Problems with withdrawal solved

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

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

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

Reply by Maria LMFX submitted Jul 24, 2017 Thank you for your feedback!



I am an official representative of LMFX and it is my job to ensure that our clients receive the very best service and the most accurate information.



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



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



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



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

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



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



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



Should you have any questions, please feel free to ask us here or to contact our Customer Support and we will be more than happy to assist you!
 
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!
Janell,
Louisiana, USA,
Aug 16, 2019,
Guest

New Trader

Service use: Live

Length of use: 0-3 Months

Maybe I missed this in the term agreement but lmfx need to make it clear to your members who are just starting that the bonus money you give them is not really theirs and that’s it’s just an illusion to make you think you have more money then what you really have. So what happen to me is that I put 300 in my account and I get a notice saying that lmfx has giving me an extra bonus to my account.. I was super excited about this because this is the first time I’m trading live and I did a lot of demo so I thought I was ready,.. well I notice in my trading account now says it has 600 I’m like wow this is awesome.. this broker is not as bad as everyone say they are but I was wrong. So as I began to trade I jump in this really good setup thinking of course I can handle the market pulling back because of how much money was on my account well soon as I was negative 259 I believe that’s the right amount might have been more but whatever but as soon as it went negative like it was going to go all the way back lmfx took there bonus away and my account zeroed out. I’m looking like what the hell is going on but then I notice on my account that it says lmfx had removed the bonus away from me which zeroed my balance out and the sad part is I went on my demo account got in the same trade and made money on it.. so I’m like maybe there was a mistake so I put 100 on the account and lmfx gave me a 100 and boom soon as the account went negative lmfx took there bonus back again and zeroed out my balance now I’m like s** you and on to a new broker.. lmfx sucks
  1 trader has found this review helpful
Reply by Maria LMFX submitted Aug 21, 2019:
Dear Janell,
I believe you severely misunderstand how our deposit match bonus works. Its purpose is to increase the trading funds you have in your live trading account and help you further leverage your account. The bonus can also be claimed if specific trading conditions are met. Said requirements are outlined in our Deposit match bonus terms and conditions document, available in the Legal documents page on our website.
Note, however, that the bonus funds may not be lost and if the equity of your own account goes below the deposit match amount, the bonus is automatically removed by the system.
The document itself is located here and the the most important parts are marked in bold: https://static.lmfx.com/doc/Deposit_Match_Bonus_Terms_Conditions.pdf
Clients who enter the program are prompted to agree with the bonus terms of service while opening a trading account with said bonus and it is considered that they have read and understood all other acknowledgements regarding the bonus, as well as our account opening agreement and our terms of business.
While it is regrettable that you incurred losses, all necessary documentation is readily available on our web page on demand and you are also welcome to contact us directly regarding any questions or when in need of clarification regarding our services.
alabama, USA,
May 11, 2019,
Registered user

its 5-10-2019 and i did receive my refund Today and LMFX did go out of there way to return the funds just wanted to update on this

Apr 19, 2019 - 1 Star at first all was going ok
I uploaded docs uploaded all that I had found and thought I had all things uploaded if you get my drift
so i went to deposit using a card
did the $50 required
then I relieved an email i needed a picture id with the face of my card in the picture
this was not something I was willing to do and I did not know of this beforehand
I did try to look around and see all the requirements
so I informed them to return the deposit
they said Please kindly allow 2-10 business days for the funds to be transferred back to your account. that was on Fri, Mar 8, 9:40 AM
it is now 4/18/2019 and no refund

now on Wed, Apr 17, 6:19 PM (1 day ago)
I get We kindly request that you send a bank statement from the day of the refund until present day that clearly shows the transactions made. You should be able to get it from your online banking system or directly from your bank.

You can send the document as a reply to this email and it will be reviewed as quickly as possible.

Best Regards,

Daniel Harris
should I send this is this safe ?
should I just walk away and let these people have the $50?
is there a third party i can ask that would be safe ?to send it to them

Reply by Maria LMFX submitted Apr 23, 2019 Dear cornbread8,



Thank you for your feedback!

Please note that as my colleague advised you, refunds may take between 2 - 10 business days (excluding weekends and bank holidays). Keep in mind that due to Easter holidays, delays may occur.



Please also be advised that we require a recent bank statement in order to make sure that the transaction hasn't hit your account already. It is a standard and secure procedure which will not harm your account in any way.



We have already requested an investigation by our payment processor and we expect an update.

As soon as we receive any response on the matter, you will be notified personally via email and the latest information will be posted here as well.
 
De leon Aris,
Lemeri, Philippines,
Jan 27, 2016,
Guest

I started trading this broker a couple of months ago, standard procedure in opening an account, trading environment is surprising, its really fast, very noticeable, there are only three accounts types as of now, and I'm trading a test premium account with roughly 400 USD, good set of currency pairs, and an active support, so far the results are good. I have no complaints, but I will stick to the test account for another two months before moving my funds here
 
Maryland, USA,
Dec 8, 2017,
Registered user

Still Observing

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

Nov 17, 2017 - 1 Star More than anything, the thing that endears clients to any broker is the ease of deposits and withdrawal but of course most especially . This company has no understanding of that. After close to one month of back and forth with them, I’m still waiting for at least 4 backlogs of withdrawals and they keep giving endless excuses to a point you cannot help but feel they are either unviable or not here for the long run or both! I have never, after many years of trading, been put through the shitshow that I’m currently experiencing. Their customer service can be ok when it involves you depositing your money but suddenly appear clueless when questions about their withdrawal process start coming. I didn’t want to rate them at all but had to give 1 star to emphasize just how terrible their withdraw system is. They will pin it all on their bank but will not tell you it will take them a whole week to even process your order. I should think that any business worth its name would throw a bank that won’t process clients orders in timely manner out but not LMFX. I’m still waiting for them to show me a track of my funds, which is over $8000.00. I don’t count on them to reply any soon but will count on them to come over here to try counter my post. My account number is 21839 so I’m real. They gotta be the worst of the worst when it involves sending you your money. I will do whatever it takes to get my money but am frustrated to death that I have to be put through this long wait. For the amount of negative reviews I have read here about them, you’d think they would do whatever it takes to resolve concerns about them but it looks obvious they are not interested in that. It also looks to me that they use treating a few clients right as a way to rope the rest of us in otherwise I cannot believe all their customers are not having this problem. This broker has a big question mark from me and I’m trying so hard to remain fair and professional in my review.
 
Viet Huynh,
HCM, Viet Nam,
Jun 6, 2016,
Guest

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

Pros: Professional and trustworthy
Cons: Busy days can result in requotes
 
USA, USA,
Apr 3, 2017,
Registered user

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

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

They are not alone though. This appears to be a running theme with many forex brokers.
 
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.
Shah Nawaz,
Gujar Khan, Pakistan,
Sep 26, 2017,
Guest

Trading with this broker for the past one year. They are simple yet very responsive brokerage firm which caters the perfect to my investment needs. They have reasonable pairs to trade. The other things like spread, leverage, commission and bonuses all are awesome too. Payment deposit or withdraws are also easy but I have a little suggestion if they mind adding modern payment methods like Bitcoin to wallets as well. Rest is good and I do recommend them good being at services.
 
tampa, USA,
Oct 28, 2020,
Registered user

Hidden Fees with depositing with mastercard.

Service use: Live

Length of use: 0-3 Months

I have used my check card (mastercard) to deposit 499.99$ and it was deducted 538.27$ that is about 7.8% (there is an other riview with the capital one for 99 his was withdrawn 107$) and there is an international fee from the bank that was around 5$. The other 38$ has been said bank fee or 3rd party processing fee which is nothing to do with the broker.
I don't know is that a cash processing fee by the bank or etc but it showed as a withdrawn by
"FULANDOK cheng du shi CNCN "
international conversion fee is from the bank which is 4.31.
So in their web site under the mastercard they should inform the customer that there will be a 7.8% hidden processing fee by the bank or the processing company than it would be fair. for the customer
 
Reply by Maria LMFX submitted Oct 30, 2020:
Dear omerayyer,
Thank you for your review!
As mentioned previously, we as a brokerage do not have fees on deposits. Any fees applied come from third party payment processing companies/banks.
The transaction is international, thus the banks and payment processors may charge you a small amount, as it is expected in most cases from such transaction.
We cannot be held responsible for such fees, as we are not the ones who impose them, thus we can't post any official information on our website.
As this is not a domestic acquirer, issuing banks charge a fee for any international transactions and currency conversion (if any). The charges vary from card issuer to card issuer and the real-time FX rate, around 1%-7%.
Should you have any further questions, we kindly ask you to contact our Customer Support!
Thank you!
USA,
Jan 26, 2019,
Registered user

after doing some research im gonna give this broker a try, the complaints i read about withdrawals is how long it takes and never about traders not getting there money, i will keep you posted
 
Reply by Maria LMFX submitted Feb 6, 2019:
Dear Poundtrader,

Thank you for giving us a chance! We appreciate it!

Rest assured that we will do our best to satisfy your needs as a customer!

Should you have any questions, feel free to contact our Customer Support!
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!
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.
USA,
Nov 9, 2017,
Registered user

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

I would like to WARN all Forex traders from US to stay the hell away from this fraudulent broker..
Once you open an account with them they put you straight into their B-Booking account and start trading against you. But when they realize that you you are making profit they change your MT4 platform by adding a patch to it which enables slippage to all of your buy or sell orders by 12 to 15 pips. Their customer support from the back office are bunch of crooks and lairs constantly looking for excuse to answer your questions. The moment you initiate withdrawal of your profitable trades they send you an e-mail to explain the reason for withdrawal. The reason why they ask you this question is because this broker is INSOLVENT and unable to process withdrawals, constantly blaming that the delaying comes from their banks but not them. And at the end the chances are that you will never receive your withdrawals. STAY AWAY ! YOU HAVE BEEN WARN !
 
Reply by Maria LMFX submitted Nov 13, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

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

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

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

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

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

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

Keep in mind that withdrawals via Wire Transfer can take 2-15 business days because sometimes the banks that handle these transactions do internal security checks which may occasionally slow down the process a bit. If your funds have not reached you within this time frame, contact us via email and we will investigate the case. If there has indeed been a delay beyond the time advertised on the website, we will take all the necessary measures to make sure that your funds reach you as quickly as possible. We have never had a case where a client has not received their funds after cooperating with us.
Texas, USA,
Oct 16, 2017,
Registered user

Stole Money

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

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

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

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

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

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

Should you have any additional questions, please feel free to contact our Live Customer Support which is available 24/5.
Finally Harris,
USA, USA,
Jan 4, 2020,
Guest

Stay away

Service use: Live

Length of use: 0-3 Months

At you own risk. I will leave it at that. I traded earned profits they swiped them from my account and zeroed my account while it was open. Stay away!!!!!!!!
 
Reply by Maria LMFX submitted Jan 6, 2020:
Thank you for your review!
It's probably not necessary for me to say that we cannot investigate your case and therefore we cannot accept it as plausible because you haven't provided us with any kind of identification such as Wallet ID, trading account ID or at least your name.
We would be happy to check the profits that you claim have been wiped of your account once we have the information mentioned above. Each and every complaint regarding trading is reviewed individually. It must be submitted in writing. In the event that the complaint is regarding a particular trade, the complaint must be submitted no later than 24 hours after the reason for the complaint has materialized.
Thank you!
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.
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!
atlanta, USA,
Oct 17, 2017,
Registered user

Their customer service is absolutely terrible. getting a withdrawal from them is like pulling teeth except worse. they have a hard time processing a $350 withdrawal how are they supposed to be able to handle larger amounts..... AVOID AT ALL COST.
 
Reply by Maria LMFX submitted Oct 19, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

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

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

LMFX broker delay the client withdrawal

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

please avoid this broker. potential a serious scam deposit taking.
 
Reply by Maria LMFX submitted Oct 20, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

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

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

Thank you!
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
Sam,
Norwood, USA,
Jan 11, 2019,
Guest

If you are considering joining LMFX please just go through the companies response to people on here. Any professional company doesn't use the language they use. They act passive aggressive. They think just because they respond fast they have the "best" customer service even though they don't try and fix anything unless you come on here and complain lol. Deposits will take less than an hour but withdrawals take several weeks. Anything you say that they disagree with there answer is consistently "according to out terms of agreement we are not responsible" for practically anything so just know if you are trading with them. 1. When you withdraw you will never know the amount you are receiving because they 're bank and "intermediary" have fee's that they don't even know how much it is. 2. They will never claim responsibility for anything just blame everyone else. So do yourself a favor and assume any good reviews on here are most likely directly from them. Every bad review on here i've experienced i just wish i read it before joining them.
 
Reply by Maria LMFX submitted Jan 14, 2019:
Hello, Sam.

Allow me to first address your remark about the tone of which we respond to reviews here. When meeting offensive and untrue reviews, it is only natural to defend the Company's integrity and reputation in a defensive manner, which, up to this point, only you seem to find “passive aggressive”. While we do respect all our customers and aim to provide the best and the most satisfactory service possible, the nature of these reviews can hardly be responded to with anything but a defensive tone.

Secondly, one should never simply click “I accept” on any Terms and Conditions documents without firstly going through them very carefully. You appear to be displeased with the fact that you were charged bank fees and the time it takes for a Wire Transfer withdrawal to reach you, as if you were not made aware or you were not informed. Since you did not read our Account Opening agreement when you opened your account with us, allow me to provide it to you now: https://static.lmfx.com/doc/Account_Opening_Agreement.pdf

Allow me to quote Section 13, adequately labeled “Client Funds”, more specifically subsections 13.8 and 13.9, which state:

13.8 The Client agrees to pay any requested bank transfer fees when withdrawing funds from the Client’s Account to his designated bank account. The Client is fully responsible for payments details, given to the Company .The Company accepts no responsibility for the Client’s funds,if the details given by the Client are wrong. It is also understood that the Company accepts no responsibility for any funds, which have been not transferred directly into the Company’s bank accounts.

13.9 The Client agrees that any amounts sent by the Client or on the Client’s behalf to the Company's bank account will be deposited to the Client’s Account at the value date of the payment received and net of any fees charged by the bank account providers or any other intermediary involved in such transaction process. The Company must be satisfied that the sender is the Client or his authorized representative, before making any amount available to the Client’s Account, otherwise the Company reserves the right to refund / send back the net amount received to the sender by the same method as received.

Those documents can be seen at any time on our Legal Documents page here: https://www.lmfx.com/en/about-us/documents.html

They are, by all means, not hidden. When you accepted those Terms and Conditions, you also agreed upon the withdrawal time frames, which are, once again, stated on our website here: https://www.lmfx.com/en/funding/funding-methods.html

You were neither forced nor mislead to accept these Terms and Conditions, which begs the question why are you throwing accusations towards our Company for the fact you did not familiarize yourself with these processes beforehand, and more so, whose responsibility is it to inform oneself with any Terms and Conditions one accepts them.

While LMFX does not charge any deposit and withdrawal fees, banks do. We always provide SWIFT confirmations on request, so that our clients are always informed of the fees our bank charges for the Wire Transfer withdrawal transaction. So what you are stating in your review is very much false and quite misleading.

Finally, I would like to address your attacks towards our integrity and reputation:

The reviews written by our clients here are 100% genuine. Had they not been, we wouldn't have been able to track their cases and provided adequate responses to them. That is, provided they identify themselves via their Company ID (also known as a Connect ID) here. Which begs another interesting question – since you did not provide a Connect ID in your review, how can the readers be sure you are an actual Client of our Company? In its current state, this review can not be considered anything else but a malicious attack towards the Company's reputation and integrity. Do identify yourself, so that we may provide a more detailed response – such as our correspondence with you and what we have provided you.

All and all, we have always stood by our reputation. Again, we stand by every word in this review and remain confident that if you ever reached us, we have responded promptly and with detail.
USA,
Aug 4, 2017,
Registered user

NO withdrawal

I used LMFX for a couple of months and while i had no problems trading, one thing that is unforgivable to me is not honoring a withdrawal. I made a withdrawal and waited for a month and it never arrived, i talked to LMFX countless times and they claimed that the problem was with my bank and that they deposited the $. I called my bank and the bank claimed they never received anything so when i called LMFX back they just told me that the problem was with not with them and they pretty much washed their hands off of it. I don't care losing $ making bad trades but not fixing a withdrawal is another issue.
 
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.
John C,
USA,
Jul 10, 2017,
Guest

Stay Away from LMFX

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

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

My wire transfer has been on hold, this excuses is because of a "bank software error". Wiring money is done via SWIFT, the global economy would be down if swift was down.
 
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.
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.
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!
King Trey,
NV, USA,
Aug 27, 2019,
Guest

Withdrawal issue

Service use: Live

Length of use: 0-3 Months

I do feel like this broker is the worst at withdrawal even after providing my account information I wasnt able to get my withdrawal. I got fed up to the point I told to just close my account with whatever I have earned. I am highly disappointed with this broker but I won't tell you not to use them that's your choice. So easy to deposit but so damn hard to withdraw. Smh
 
Reply by Maria LMFX submitted Aug 29, 2019:
Dear King Trey,

Thank you for your feedback! We highly appreciate it!

I'm afraid we failed to find you in our system because you didn't provide any identification such as Wallet ID, Trading Account ID or your name.
We do have a verification procedure prior to every withdrawal for security reasons.
As long as we have the documents we need, we would process any withdrawal back to the client.
If you provide us with more information, we will check the case in details and get back to you with an update. Feel free to contact our Back office or our Customer Support. We will be happy to assist if there really is an issue with your withdrawal.
Thank you!
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.
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.
Robert,
Atl, USA,
Apr 7, 2020,
Guest

Will not refund your money

Service use: Live

Length of use: 6-12 Months

I deposited money then was told I can’t have an active live account for some reason. I asked for a refund and they said I won’t get the refund for weeks. Yet to see it. They take your money and won’t refund you yet can withdraw and wire transfer money within days if you had a live account. Horrible customer service.
 
Reply by Maria LMFX submitted Apr 9, 2020:
Dear Robert,
Thank you for your review!
However, you haven't provided us with any kind of identification such as Wallet ID, trading account ID or at least your full name.
Please note that every withdrawal is processed in a timely manner and it takes a while for the money to reach your account.
The Customer support team is available at all times while the brokerage operates 24/5. You can reach us via email, Live chat or phone.
As you open up the web-page, you will notice the Live chat window in the lower right. Feel free to contact us regarding any issue and we will be glad to assist you.
It would be appreciated if you could provide us with further details as to why you are not satisfied from your experience with us.
Thank you!
USA,
Dec 20, 2017,
Registered user

Be VERY cautious

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

However, I am now extremely concerned about this broker. I have been waiting almost a month for a withdrawal, and all their recurring estimates of 2-3 days continually come and go. Backoffice response is decent, but ultimately they can/will do nothing. They will not provide me with wire tracking numbers, and their latest email responses are in all caps. I am sure they have reason to be frustrated with me as well since I am emailing them constantly, but I want some damn answers or at least a wire number. A month of nothing is very hard to handle.
 
Reply by Maria LMFX submitted Dec 28, 2017:
I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

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

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

We have also received information that you have, indeed, already received your funds. We apologize for any delays that may have happened, but please understand that they did not originate from us. We do our best to thoroughly investigate each similar case and will happily provide our clients with any information that we have. We also take all the necessary measures available to us to speed withdrawals up as much as possible, but on some occasions the matter simply does not depend on us, but on some third party that we have no control over. As seen in the corrected reviews, withdrawals always reach our clients. There has never been a case where a client has not received their funds after cooperating with us.
Texas, USA,
Aug 12, 2019,
Registered user

I would trust them again with my hard earned money

Service use: Live

Length of use: 0-3 Months

I have been trading FX since 2008 with many US and offshore brokers. I’m only making a one time quick post here, because I recently chose LMFX based on babypips. When I made my first withdraw request, I got big time run around and other stalling nonsense. I have had close contacts with agents in alpha bet soup agencies, and only when I mentioned this to LMFX did their attitude instantly change and all of a sudden the same bank documents already emailed for withdraw wire became “clear”, when they were mysteriously unclear just minutes before. I wanted to really believe they were honest offshore broker, but they dont seem trustworthy based on my experience. You were warned, please pass this on.
 
Reply by Maria LMFX submitted Aug 14, 2019:
Dear rynobarker,

We have checked your case and are fully aware of your particular situation.
Allow us to state some facts in regards to your withdrawal process:
- Your deposit was received on the 18th of July
- In less than 5 hours ( around 3:00 am GMT) you have requested a withdrawal - without even transferring the funds to your Live trading account and trading. Thus, we deemed necessary to reach you and check if there were any issues or problems.
- You have stated that you wish to test the withdrawal procedure and we have complied with your request.
- On the same business day ( less than 6 hours ) your withdrawal request was reviewed and you were requested a Bank Statement in order to verify the bank account details and to comply with the Anti-Money laundering and security of funds policies.
- After 9 minutes of you providing the BS, you received a reply. It would have served in the best interest of both parties if the document provided from you was in the highest quality ( so it can be reviewed from the Compliance department ). Yet, you failed to do so and our compliance agents had to work with a document of lesser than the usual quality. Still, your document was accepted.
- The second reply to your email took only about 5 mins
- You can find information about withdrawals everywhere on our website. It clearly states that international wire transfer takes 2 to 15 business days, depending on your Bank .
- Your withdrawal was processed on the 19th of July around 12 am GMT
- It took 33 hours for your withdrawal request to be processed on our end
Given the circumstances and the above mentioned facts, we fail to understand how the withdrawal procedure was “ big time run around and other stalling nonsense”
Your mention of close relations with “alpha bet soup agencies” has nothing to do with the processing of your withdrawal request. With or without them, we would have followed the same verification procedures that ensure the security of your funds.
We did our best to provide you with fast and reliable services and hassle free payment process, as we do with all of our customers .
We hope that you would change your mind in the future and at least try our trading platform and the rest of our services first.
Thank you!
Fort Lauderdale, Florida, USA,
Apr 20, 2020,
Registered user

Service use: Live

Length of use: 0-3 Months

I funded my account using a capital one credit card for $99.99 but lmfx charged me $107.98. I contacted them and they said that my credit card company added an $8 fee, but when I called capital one they said that they do not charge fees for international transactions.

LMFX are liars, yes they come here and try to act professionally by responding to customers, but trust me, this is a scam website. And please note that many of the positive reviews are fake.
 
Reply by Maria LMFX submitted Apr 22, 2020:
Dear Kai999,
Thank you for your review!
We always act professional, not only here, but also when helping our customers. As an extension to that I kindly ask you to provide us with any kind of identification - Live account ID, Wallet ID or at least your name. It would be much easier for us to consider your case plausible and investigate it if necessary having that information.
Please note that we as a brokerage do not have fees on deposits. Any fees applied come from third party payment processing companies/banks.
The transaction is international, thus the banks and payment processors may charge you a small amount, as it is expected in most cases from such transaction.
We cannot be held responsible for such fees, as we are not the ones who impose said fees.
I would like to emphasize that your review went through the same screening for fakes as any other review posted here. Most clients have a different experience than yours and they are well aware that any payment service has a fee that has to be paid.
Thank you!
Russian Federation,
Dec 28, 2018,
Registered user

This broker illegally lowered the leverage to 1: 10 for my account number 51317 ,so I could no longer trade with them !!!!They do not like profitable traders! This is a Scam!!

Dec 26, 2018 - 5 Stars Very good broker...fast withdrawal 10k$! Very good work support! I recomendate LMFX for big deposit! They professionals!
 
Reply by Maria LMFX submitted Jan 2, 2019:
Hello, Anatoly M.

I fail to understand the quick change of heart from 5 to 1 stars while we have provided the exact same great service to you or any of our other clients.
I would like to point out the following:
We did not “illegally” lower your leverage since a) leverage change is not restricted by law and b) LMFX, the company reserves the right to do so at its’ own discretion per the Account opening agreement and the Terms of Business documents, which I should remind you, are considered as read and understood by you since you have an active account with us.
These documents may be found here:
https://static.lmfx.com/doc/Account_Opening_Agreement.pdf and
https://static.lmfx.com/doc/Terms_of_Business.pdf
More specifically I would like to touch upon these points:

3. Scope of the Account Opening Agreement
3.2 The Company reserves the right, at its sole discretion, to withdraw the whole, or any part of the Services at any time, on a temporary or permanent basis. The Client acknowledges that the Company is not obliged to inform the Client of the reason of such changes.

7. Arbitrage
The Company reserves the right to make the necessary corrections or modifications on the Account involved, without prior notice. Accounts that rely on arbitrage strategies may be subject to the Company’s intervention and the Company’s approval of any Orders. Any conflict arising from such quoting or execution errors will be solved by the Company in their absolute discretion.
7.2 The Company is not obliged to contact the Client and advise upon appropriate action reflecting changes in market conditions

The second point touches upon the reason why we placed a restriction on one of your accounts. We find the method you employed to trade with us predatory and had to thus restrict the leverage to protect the interests of the company and our liquidity providers.
We chose this approach so that we could at least process your withdrawals, which you confirmed as received previously. Otherwise, we would have had to close your account and erase all profits you made using the restricted methods.

Note that despite all of this, you can still trade with us, but you will have to either use the same account with a restricted leverage of 1:10 or simply use of the the other 2 live account types with no added restrictions like everyone else.
As an STP-ECN broker we have no issue with profitable traders. We only have problems when traders try to game the system without any actual market trading.

Lastly, I would ask you first look up the definition for “scam” before using it to describe a broker that just paid out 12,726.00$ to you.

Good day, sir!
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.
James Lord,
VA, USA,
Mar 19, 2019,
Guest

Stay away!! They will process your deposit immediately but when you decide to take your own money out you will get the run around.
Its been 3 days since I requested a withdrawal and I keep getting emails with excuses. They literally told me they needed to know why I wanted to withdraw before they would process it!!! WOW!! Now I'm told they are waiting for a processing "processing slot"??!!!
 
Reply by Maria LMFX submitted Mar 21, 2019:
Dear James Lord,

We are very much aware of your complaints regarding your withdrawal. You have been properly responded to within minutes of each and every request and complaint. In all honesty, we are shocked at your attitude towards your withdrawal, especially considering the fact it has not been delayed a day.

However, you also failed to mention a few details in your review. Allow me to share the missed details for the broader audience.

Your withdrawal experience started when you initiated a Credit/Debit card withdrawal on 15-03-2019. It was rejected due to the fact that the Credit/Debit card withdrawal option is not available for US customers. You were informed of this and instructed how to submit your withdrawal.

Once you resubmitted your withdrawal using the correct method, you were also informed of a mandatory requirement we have – a bank statement submission, in short. You submitted that document on 19-03-2019, four days after the request.

Your document was received and approved. We informed you, however, that because you submitted it outside of processing hours, your withdrawal was scheduled for checking and processing the next business day. That is when you started complaining that we are purposely delaying the withdrawal and we have been for the last week, which, as explained above, is preposterous and untrue. If anything, it is due to your own actions – failing to submit your withdrawal using the correct method and then replying to our withdrawal policy email four days after it was sent. Kindly be reminded we have detailed email correspondence with you and we are very much ready to provide it to prove this is true.

Despite your toxic attitude and language in your emails, you were properly responded to within minutes.

While you found our policy to call and email our customers annoying, it is done out of good intentions and concern, nothing more. Let me assure you, here and now, that whether you responded to that call or not, it would not have affected your withdrawal in the slightest.

Let me also assure you that the withdrawal is on its way to you, it was processed yesterday. We also sent you an email regarding the matter. All in all, it was sent to you in an expedited manner, considering the date of submission.

As per our Terms and Conditions, which were provided to you on several occasions, a withdrawal processing may take up to three Business Days. Yours was done in one. Not because of your toxic attitude, but because we felt your urgency.

Kindly correct the review to reflect the truth. As you can see, the blame, if any, is on you. And we have the logs to prove it. Please tell us whether or not you wish them posted in front of the broader audience of the FPA forums.
USA,
Mar 29, 2017,
Registered user

STAY AWAY!!!!

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

I am an official representative of LMFX and it is my job to ensure that our clients receive the very best services and the most accurate information.

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

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

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

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

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

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

Thank you!
arizona, USA,
Aug 28, 2020,
Registered user

Scammer , scammer

Service use: Live

Length of use: 0-3 Months

Scammer scammer scammer , they stole my money 4600 $ .
they suddenly removed the bonus from my account to make my margin to reach to zero then close all my open position and stole 4600 $ .
i had on my account at this time 2600 Margin with 250 % . but they removed the bonus and closed all open position and stole my money ., keep away from them
 
Reply by Maria LMFX submitted Aug 31, 2020:
Dear Loay Atef,
Thank you for your review! We investigated your case once again, and we can assure you that the Deposit Match Bonus works as it should so we cannot accept your statement as plausible.
You have been informed by two of our agents - on live chat and via email - about the Deposit Match Bonus and its Terms and Conditions.
We always advise our clients to read the ToS carefully before choosing any bonus and agreeing upon it.
The document clearly states the following:
The funds attached to the trading account as Deposit Match Bonus are available to increase the trading funds available and help in leveraging the account. They may not be lost.
This means that if your account is being stopped out, the bonus is being removed.
And also:
If the Client's account goes below the Deposit Match bonus amount, then the bonus is removed automatically by the system. In other words, if the Cash Equity (Equity - Credit Bonus) becomes zero or less, all previously awarded Credit Bonuses will be canceled and withdrawn from the respective Client's account. In this case, the Company is not responsible for any consequences of the bonus cancellation, including, but not limited to, order(s) closure by Stop Out.
You made two deposits of 1000 USD, so 2000 USD in total. Hence, you received the same amount matching in your account as per the Deposit Match Bonus.
Unfortunately, you experienced some losses + swap fees, and your account was stopped out.
Following the Deposit Match Bonus ToS, the bonus was automatically removed shortly after that.
Should you have any more questions, please contact us via phone, email, or Livechat.
Thank you!
Chicago, Illinois, USA,
Jan 13, 2018,
Registered user

$6K loss from failure to execute order

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

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

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

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

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

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

"Thank you for your request.

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

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

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

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

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

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

To summarize, you were trying to scalp with large volumes during unfavorable market conditions and suffered losses as a result of your trading activity. While we sympathize with the situation, we as a broker cannot take any responsibility for your choices as a trader.
thomas nash,
South Carolina, USA,
Jul 19, 2016,
Guest

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

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.