LMFX Review

Even though LMFX does not charge any deposit fees, if you choose to use a debit card to deposit funds, there is a quite substantial fee incurred. In June 2021, I deposited $999 6 times, but the actual amount charged each time varied from $1068.32 to $1073.22, which is ~ 6.8% to 7.3%. This fee is charged by the bank associated with the card processing service of LMFX. No matter how the card processing service denied it, this fee exists for a foreign transaction (not like my own bank). This has also been confirmed by another FPA member. I tried to dispute this fee, but the back and forth emails take forever to resolve. This fee structure should be stated at the top of this review forum. If you are not aware, you will have to pay this horrendous fee.

LMFX has always been at the top of my list as the best FX broker out there. Being in the USA I appreciate their kind and friendly service but especially their high leverage account. I've been a customer of LMFX for about 7 years so I know of which I speak. I can guarantee you your money is safe with LMFX.

Mar 6, 2018 - 5 Stars I have been with LMFX for about 6 months and they are top notch. If I call the US 800# I get a quick response and helpful service. Withdrawals are easy to do within the connect account on-line once you know how to do (a customer service person walked me through the process). I get good fills even in times of fast moving markets. My connect account # is 32501

These scumbags have just canceled my withdrawal via bank transfer even though they have copies of my passport, drivers license and all bank information including a bank statement. They are literally forcing me to take Bitcoin or nothing.

Response from broker: 3 unsettled trades which were not shown on the current daily confirmation. Satisfactory response. No further issue.

May 24, 2021 - No Rating I have been trading with them for well over a year. No problems. Withdrawals process OK, (at least the one I have made), deposit fees are typically high depending on what method I use.

I am waiting currently on a response regarding my running balance suddenly decreasing by 1000.00. I received a confirmation email just over an hour ago showing the correct balance, and as of 30 minutes ago, I'm showing approximately 1000.00 less. I have made no withdrawals or withdrawal requests. This is highly unusual and also alarming. I will post again as the situation develops.

I'd like to add my 2 cents, based on the following
Pairs: eurusd, usdjpy, gbpusd
Technical: macd, moving averages (20,50,100) RSI, volumes etc.
Fundamentals: News etc.
Total time traded: Live 5 months (100% manual) no bonuses
Funding: Skrill, bank transfer.
Account type: Premium

LMFX is doing okay, on average they do offer a good stable trading environment for any trader, and they do payout quiet with in the given time frame, mt4 is good, trade executions are good (take note kindly be wary of sudden market movement during news releases and high volatility, its pretty much normal with any broker), with that said they are fairly doing really well as a broker, I wish for more payment options maybe, but they do have an advantage of catering to US traders. withdrawals are processed through skrill mostly usually with in 48 hrs, various amounts tried all done on time.

just to be clear what works for me might not work for others, its a rule of thumb in such industry to do your due-diligence and good luck

Regarding the reply by Maria LMFX on April 5th:
You are a liar and you are your team are a bunch of thieves. The trade usd/jpy, on standard lot that I placed on your platform was in profit by over $100. I hit the close button and instead of my balance increasing by $100, it decreased by $30. You tell me if this is market volatile. On another trade I took on
usd/jpy. I was at loss of $20, it was friday, so I decided to close the trade, instead of seeing my account balance decrease by $20,
my balance decreased by over $100. You tell me if that's market volatility. Don't come in here and try to make me look as though I have no idea what I am talking about. Because my eyes are not deceiving me. Okay? It is how you programed your mt4 platform. When a trader closes their trades, the profit would be alot lower than what they gained. If you are have no vested interest in your clients
money, why would you design your mt4 that way. I've traded with several other brokers, and in my life, I have NEVER seen it where the trade was profitable and my balance decreased after I closed the trade until I started trading with your company. If your company is willing to steal a few bucks from your clients, can you imagine if one is making tens and thousands of dollars. How much will you rigged mt4 platform
steal then?. Don't try to deceive me Maria. I know what I am talking about. That is why I closed my accounts and took my money out from your company.
I don't trust in your company. Read the testimonials on here, the main thing that you see is most of the testimonials are
that your company can't be trusted. You are bunch of deceiving crooks. I use to read this testimonials and thought that these guys
just dont know how to trade and that was why they are blaming your company. Until it happens to you. That's when you realize that what
these guys are saying does have some truth to it. That you are after your clients money. That your mt4 [latofmr is designed to steal
your clients money and you will call it market volatility. DOn't come in here and try to deceive me Maria. You are not an stp
broker. You are bucket shop just like many other brokers out here. Yes. I will say that the only one good thing about company is
that I've never had issue getting my withdrawal request. But that's not a big deal. That is what is suppose to be the norm. Guys, be careful. Due you own due diligence with these guys. When I left a feedback that I was able to make a large withdrawal, they didnt give me a hard time. Now when I'm saying that their mt4 is rigged to steal your money, now they want to make it as though I dont know what I'm talking about. Bunch of deceiving thieves.

Apr 6, 2021 - 1 Star Regarding the reply by Maria LMFX on April 5th:
It doesn't surprise you. You are a liar. I was profitable on those trades even with the swaps. I closed those trades and saw my account decrease instead of increase. This is the tactic you use to steal your clients money. Read my previous testimonials. I vouch for your company thinking you had integrity and legit. That is not the case. You are a bunch of crooks. I've traded with other brokers and if I was profitable, when I would close the trades, my account balance would increase instead of decrease. You are the only company that I've ever traded with where I closed profitable trades and saw balance decreased. Guys, don't be deceive by these company. I saw all the negativity and I thought that those guys leaving those bad testimonials were just bad traders and blaming the company. Until it happens to you. Then you come to believe what those other customers are saying. That LMFX does not have your interest at heart. Period. They are looking for ways to scheme you out of your cash. Even if you were profitable, and close your trade, you will see a loss. Why? because they want your money. Well, I will give them this. I requested the funds from my account and I got it back. That is one good thing I can say about them. You will get your money back if you request it. But overall, think twice guys before you join them. Dont be deceive by their smooth words. Look at those other negative feedbacks on here and put two and two together. Maria, tell your crew, I will NEVER EVER allow you to steal a dime from me, even if it means never trading against again because of the Dodd Frank act that the U.S. passed. I will deal with only regulated brokers. One where I live in the same city or so.

As far as the instaincoin deposit, I deposited $1,900 and this was what was the mount or close to the amount that should have been credited to my account. Not $1,650. You were looking for ways to just steal my money. Guys, the little things paints the bigger picture. Dont be deceive by these crooked company. Hold on to your money until you can find a solid broker that wont you scheme to steal your money. You work hard for your money and you deserve to keep it. Bunch of thieves.

Apr 2, 2021 - 1 Star DON'T ALLOW THESE THIEVES TO STEAL YOUR MONEY.

Today, I reached my tipping point with these crooks. In the past, I wrote on here that
I was able to make large withdrawals in the amount of $42k, $21k, 20k with these guys. It is
true. This guys will not run away with your money. However, it is what these guys have
been doing over the last few weeks that left me to believe that they are a bunch of crooks.
Why do I say this? Because whenever I would be in profit, when I would close the trade,
my balance would decrease instead of increase. Several trades I took. For example
on usd/jpy, I was in proft of $100. When I close the trade thinking my balance would
be higher, it dropped instead by $50. Same thing with another trade I
took. USD/CAD. I was at loss on the trade by $200. When I closed the trade, my balance dropped
by $230; Another trade I took. Usd/jpy; I was in profit by $10; by the time I
closed the trades, my balance was down by $100. STAY AWAY FROM THESE CROOKS. Please
do not say I didnt warn you. I have requested all my funds and requested for my trading
account to be closed. The bible says darkness and light can't walk together. these guys
are no STP broker like they say they are. Do not be deceived. If they can cheat you
on a couple of bucks, can you imagine cheatting you if you make hundreds of thousnads
dollars on trades. I understand that everyone wants to make money. But long term, you
are not going to make it with these guys. Little things always paint the bigger buncher
in the long run and I can assure you, these guys will end up screwing you at the end.
I will NEVER trade with an offshore company again. I am in the process of moving
oversea and get my resident elsewhere. ThiS FIFO law sucks big time. It let the little
guys get taken advanatge of by crooked brokers like lmfx. I saw all the negative testimonials.
I didnt believe them. But it is true guys. These guys are hunting and looking for
everyway to steal your money. Another incident that occured a few weeks ago. I had made
a deposit of instaincoin with this guys of $1900. Instead of creditingme the full
or close to the amouny, I saw my instaincoin account dropped to $1650. I contacted
instaincoin to see what was going on. They told me the issue was not with them. And
it was my broker. That was when I should have realized to stay the hell away from these
crooks. I had to nearly beg before lmfx issued me back the $250. At first they
tried to give me an excuse on how btc was very volatile which was why the decrease.
But I said, so volatile that my account was down by 10%. Anyways, please, I beg you,
hold on to your money. Forex is extremely difficult. I've been around for a while.
This crooked broker makes it even harder for you to be profitable. The 1-2
second freeze when you hit the buy or sell order. I can go on. Just stay away.
And if you have an account with them, think twice if you wish to continue with them.
I've traded with many brokers in the past. When I closed trades, ive always gotten
what I closed at. Not with lmfx. you will see you balance decrease. bunch of thieves.

Nov 19, 2020 - 4 Stars Had to write another review for this broker. This is my third large withdrawal. First
withdrawal was for 21k, 42k, and my third withdrawal was for $20k. All these withdrawals were received in my bank account in less than a week.Lmfx paid out all
withdrawals. This company is legit. I know there may be some negative feedback on here that they are a scammer. Those that are screaming out scammers are either those who accepted the bonus money but d0nt know how it worked or, those who don't know how to trade but want to blame the broker. Trading is a hard business. Read somewhere years ago that 98% of people who enter this business end up loosing money. So, instead of pointing the fingers at the broker like lmfx, it may be time to take the time to develop a winning trading strategy. Lmfx is a legit company. The reason why I'm only giving them 4 stars is because their payment system needs improvement. For those of us using credit/debit card to fund our trading account, it would be nice to be able to deposit more than $3k per day as well as not have to wait 24-36 hrs for every 6 successful deposit. Other than their payment method,
this is a solid broker.

Nov 1, 2020 - 3 Stars I posted the last 2 message. That I was able to make a withdrawal of $21k and $42k.
Yes. you will get your money back from lmfx. They are not crooks. However, I would not give them 5 stars. I would give them 3 stars at most. Why 3 stars. Their payment system is horrible. They allow you to make a total deposit of $3k per day for up to 48 hours with a total deposit of $6k if you are using a debit card. Now after a total of 6k deposit, if let say the market is not moving in your direction and you want to add additional funds to keep from hitting margin, you would have to wait 24-48 hrs from you last deposit before you can make another deposit. Now tell me who does this favor? The client or the broker? Now if you ask lmfx, they would tell you they are trying to protect you from fraudulent activity. That is a lie. Other brokers do not put a cap on how much you can deposit into your trading account. So, instead of a 5 star, I am going to go with a 3 star because their payment system ( deposit and withdrawal) method is horrible. Short term, if u are trying to make a few bucks, they are an okay broker to trade with. But if you are in this business long term like myself, you are better off finding another broker. And please lmfx, dont come
in here and tell me to deposit with cryptocurrencies. Cyrocurreinces are too volatile for some of us to deposit with.

Oct 24, 2020 - 5 Stars This broker is the real deal. Many people will let the fact that they are not regulated turn
them away from LMFX. I too use to think that way until you realize that many (not all) of these
regulated brokers really dont have your best interest at heart. I had to share my experience with
LMFX. Been trading with them now for about 3 months and thus far, I can tell you that they are not
a a market maker. The platform doesnt freeze when placing a trade. Also, their customer service support
is excellent. Last but not the least, most of you might be concerned as to whether or not you
will be able to make a withdrawal of profits. I can vouch and say yes. I've made two big withdrawals,
one in the amount of $21k and the other in the amount of $42k and both withdrawals were paid out.
Now, I would say to exercise some patience when requesting a withdrawal via wire. Remember, international
wire transfer can take a bit longer than domestic wire. But if you know how to trade and looking
for a solid broker to trade with, you need to look into this brokerage firm. Trading is not easy.
It took me many years of failure and loosing before I became good at it. Finding the right broker
who doesnt take trades against can go a long way when it comes to being a profitable trader.

Reply by Maria LMFX submitted Nov 10, 2020 Hello and thank you for your feedback!

We apologize for the inconvenience you experienced!

LMFX offers a variety of funding options provided by third-party companies, and it is understandable for them to have certain conditions and restrictions.

Our sole purpose is to deliver the very best services to our clients, so we have other funding options available that are easily accessible from your LMFXconnect account.

You can check their minimum and maximum deposit requirements in your Wallet. There are deposit methods that do not use cryptocurrency to facilitate the payment and are just as swift and secure.

Should you require any assistance, do not hesitate to contact our Customer Support team.

Thank you!

Reply by Maria LMFX submitted Apr 5, 2021 Dear anonymous,



Even though the case was explained to you on several occasions via email, let me give some details once again.

The MT4 platform works as it should and it reflects the accurate P/L of your account. Please note that the market can move in the opposite direction and this may result in certain losses but this just how the market works.

Please also note that if you keep your trades open overnight there is a swap fee which is a standard fee which any Broker would impose. You can find the swap fee in the MT4 reports. Also, you can review the daily statements that get emailed to you every day and monitor your trades closely.

As to your 2nd comment regarding your deposit, my colleague not only provided you with a detailed explanation but after several threats and swear words on your behalf, our Management decided to refund you the amount even though it was not a fee coming from us in any way. The difference in funds is simply due to how the deposit method operates. Nothing more and nothing less.

Should you have any other questions, please feel free to contact our Customer Support and we will gladly assist you! Thank you!

Reply by Maria LMFX submitted Apr 8, 2021 Sir, once again we would like to point out that LMFX doesn't have any interest in you losing your funds. We are an STP broker which means that we gain our profits from the spread so the more you win, the more we win. Hence, we don't have any advantage of your loss or "stealing your money".

Furthermore, we have advised you multiple times to provide us the exact trade IDs with which you had issues. We have also provided you with instructions on how you could extract the logs from your MT4 terminal.

Should you have done it, we could have investigated and check each and every trade. However, you have refused to do so.

As I can see your withdrawal request was processed successfully and you also confirmed that the money is already in your bank account which also proves that we don't have any interest in keeping your money away from you.

Please note that the market is very volatile and you can see the price changing within seconds. We are not responsible for the way the market acts and the price range.

As to the rest of the negative reviews, you can see that each of them received a detailed response as you do right now and all the cases have been investigated and proved as not plausible on our end.

This is the last answer that you will receive from us in this channel because we consider the case closed and we wouldn't appreciate turning this page into a chat that you could simply have on our website. Thank you!

I submitted my buy order and it was registered as a sell order by the system. I lost over $2000 dollars. I contacted customer service to resolve the issue with the logs from the system. They acknowledge that it was their mistake but never returned my money!
DONT WASTE YOUR MONEY! GO TO THEIR COMPETITOR!

I am based in Asia and attemped many brokers from local to international. I came accross this broker on Facebook and decided to opened up a small account. After 8 months, I made some withdrawals and this broker is reliable, no hassles with my withdrawal and deposit ofc. Quick support and swift payout processing but you won't find many advanced things here, only good spread and MT4 platform trading.

I tried the service at the recommendation of associate, and it started out good. Bait and switch with bonuses thinking they were on my side, and I noticed my trades were losing more than gains. Make $5 and lose $10 and as this continues your account is slowly drained and siphoned down to nothing. Expert Advisor-I think not.

No problems whatsoever. They do what they say and say what they do. As a US resident this is the best offshore broker experience I have had. Very consistent. I received everything they commit to.

For all of the complainers you need to adjust your expectations. This broker does not deserve any less than four stars for any of the very minor issues I have seen posted. Stop whining and start trading.