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

Nick,
Jones, USA,
Aug 9, 2019,
Guest

Difficult to withdraw funds

Service use: Live

Length of use: 6-12 Months

This broker is easy to use until you want to get your money back. They make you go through an extensive process to get your funds back. The process makes you feel like they are prolonging a scam.
 
Reply by Maria LMFX submitted Aug 12, 2019:
Dear Nick,
We are sorry to hear that you had a bad experience with our brokerage. We are doing our best to improve our services and we do appreciate all constructive feedback!
I'm afraid we didn't manage to find you in our system and in order to give you more specific information we require some identifiable information from you.
Allow me to add several details that might be helpful regarding your case.
LMFX has specific verification procedures prior to any withdrawal that are only designed to ensure the security of your funds.
Let me also emphasize that we only use reputable payment methods, but they also work within certain time frames which could also add to any possible time delays.
Furthermore, our Back Office is in constant communication with our clients and they would be happy to answer any questions you might have concerning your withdrawal so feel free to send them an email at your convenience.
Since we didn't get any particulars from you we are not able to provide more assistance, but if you are willing to get back to us or join in on this conversation I am certain we can find a satisfactory resolution for you and our company.
Thank you!
Newmarket, Canada,
Jul 1, 2019,
Registered user

Review

Service use: Live

Length of use: Have not used

i just found out the process these guys follow are what what all the brokers follow i did get my payment via skrill from them so i take back my old reviews.

Jun 28, 2019 - 1 Star im wrinthing this as a second review i requested a 50 dollars skrill withdraw and my skrill account isnt the same one as 2018 due to skrill locking it. so i told tell and let them know i have no longer access to that email and they asked for screenshots of my skrill account with my name on it.so thats what i did i took a screenshot and these guys told me this its not clear which was clearly clear to me when i took it and i have the files to proof it i send them many times and they still denied it how do i get my money back? can i sue them? please help my screenshots are what they asked me for and are clear and they are still denying and making excesue

Jun 27, 2019 - 1 Star so i made my first deposit via debit which was 50 dollars and i lost that money all of it second deposit was from skrill for 50 dollars which i also lost it and 3rd deposit was from vload for 50 dollars which i made it to 84 dollars so i tried to withdraw this money via wire tranfer and they told me it would cost around 35 dollars fee to get my money so i said ok what other way of withdraw i have they said i can deposit via skrill with no fees so i contatced skrill and got my account back and went to withdraw and guess what they told me i can only withdraw 50 usd because i deposit via skrill (deposited via skrill 2018- deposited via vload 2019) on 2018,at this point i lost it how they say that when last time i deposited was via vload and then they told me that if i deposit 50 dollars i have to withdraw atleast 50 dollars via that methhod. i deposited via vload and they say no we have no optin to withdraw via vload so they say i can withdraw 50 dollars and the rest of 34 i cant and have to do it via wire tranfer with 35 dollars charge fee. i feel like what ever methhod i was gonna use they were gonna do that .also i have deposited via both vload and debit card so my deposit from skrill shoudnt count since i lost that and won when i deposited via vload. can anyone advice on what i can do to get my money back?

Reply by Maria LMFX submitted Jul 2, 2019 Dear Alireza Khosravi,



Firstly, allow me to offer sympathies for the experience and troubles you have had. But I assure you they are not ground. Please allow me to elaborate.



We rejected you initial withdrawal attempts, that is correct. The reason was the fact that you violated our Anti-Money Laundering policies by attempting to withdraw funds to a Skrill Account other than the account you used to deposit funds with.



During our investigation into your case, you provided us with a screenshot by Skrill, showing at least three other accounts under your name which were deactivated. You also claimed the Skrill you used to deposit funds with is also inactive.



Being the understanding people that we are, we immediately initiated a verification procedure for a new Skrill account that you can withdraw funds to. At which point we requested screenshots to verify that, firstly, the account you will use is active and under your name. Given what is stated above, I am sure you, and the FPA community, would understand the necessity of this verification.



Some of your screenshots were, in fact, unclear. Need I remind you that these documents are considered Official Withdrawal Documents. Documents used for withdrawals and account verification are to be in pristine condition as per our and international Anti-Money Laundering and account verification policies. All the information on every single document requested must be clearly visible.



By this time you were frustrated, and we sympathize with that, but we did have agents assisting you at all times, and in the end, when you kept your emotions and frustrations at bay, your screenshots were approved and your withdrawal – successfully processed.



We would like to also remind you that your behavior was less than civil – you refused to comply with procedures and used foul language. We have screenshots of our own and of every single document you sent our way and are absolutely ready yo provide them here in front of the FPA community.



We respectfully ask that you correct your review so that it reflects the truth. We never withheld funds from you. We always tried to assist you as best as possible. The fact of the matter is you were treated with respect, every single process was transparent and you have received your funds, just like every Customer we ever had.
 
USA,
May 23, 2019,
Registered user

Third Party Bank card processing issues for 3 days in a row now...trader beware.

2 stars: Performance is significantly below expectations. Major problems encountered.

I am giving two stars because I have encountered what I consider a major problem.

The visa/debit "Third Party Processor" is under maintenance for the 3rd day in a row. They have other options for deposit/withdraw but I do not like using these other third party services because they charge fee's. Furthermore, I do not want to give out my private info to another third party company.

I signed up with LMFX because they had the FREE visa/debit "deposit only" option. This works for me because I do not mind using bank wire for withdraws. I only make them a few times a year but I need to be able to make deposits on the fly (with no fees) in case of drawdown purposes.

The fact that their visa/debit processor is down for 3 days is unsettling to me. This simply does not happen with my other brokers.

When I ask them what is wrong, they tell me it is down for maintenance purposes and will be back up asap but in the meantime you can sign up your bank information over here to this other/another "third Party Processing" company and we will gladly process your money... for a nominal fee ;)

I have never had a deposit/withdraw issue with my other two brokers for 11 years now. I will change my review to 1 star if this problem is not corrected soon.
  1 trader has found this review helpful
Reply by Maria LMFX submitted May 24, 2019:
Dear robrobby,

While we appreciate your feedback, we must inform you that companies do go in maintenance all the time. It is something quite normal and ensures faster services in the future. We would much rather give the processor the necessary time to complete their maintenance than the possibility of a larger issue in the future.

We completely understand your position – it is the best method for you, it is normal to experience displeasure due to the fact you desired method is temporarily unavailable.

However, as you mentioned, we have provided alternatives. Yes, they do have a fee for processing deposits, but you are, essentially, complaining that you have options to deposit, which is inadequate.

You also present the situation as if LMFX has a say in the maintenance of the Visa/MasterCard processor. Let me assure you that we do not. We are in constant communication with them and they assure us the issue is being professionally handled and it will be resolved as soon as possible.

We kindly and respectfully ask that you have some patience until the issue is being resolved. We are aware this is an issue for our customers – it is being handled with care.
USA,
May 18, 2019,
Registered user

Good for U.S. clients

They have CC deposits again! Love the bonus and the leverage levels.

I also appreciate the addresses by the broker for issues that other traders have experienced.
 
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.
 
California, USA,
Apr 8, 2019,
Registered user

Highly recommend!

I am very satisfied with this broker. I've been using LMFX for roughly 2 months now Their customer service is great. Any questions I have, they answer within minutes on their site. Their back office is very speedy when responding to any emails with account inquiries. I made my first withdrawal of $ 200 via credit / debit card option, however there was an issue with US clients using that method of withdrawal. So, the back office immediately contacted and rectified the problem by processing my withdrawal through wire transfer. It took 5 days for me to receive my withdrawal. With everything said and done, I received $ 180 with all transfer fees taken out.
 
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.
NEW YORK, USA,
Feb 6, 2019,
Registered user

Great on boarding, easy to start. CS is knowledgeable and fast. I did test withdrawal of $100 via wire took about 5 business day and received about $32 after fees of international bank transfers and my banks $15 fee. l'd like if they acquired a CRYPTO deposit and withdrawal system. *note i am in the US. The spreads for most pairs are fair
  1 trader has found this review helpful
Reply by Maria LMFX submitted Feb 12, 2019:
Dear MICHAELL4,

Thank you for your review! We highly appreciate it!

We do our best to improve our services and your feedback will be forwarded to the proper department!

Should you have any questions, please feel free to contact our Customer Support!
california, USA,
Feb 1, 2019,
Registered user

don't believe all the review because some are fake review

i joined LMFX because of their 1:1000 leverage since im doing Copy Trade service. I been with them for 8 months and they did had a withdraw problem last year and it wasn't fast enough but it took awhile. Every since they change banking process, it arrived much quick than before so im ok with that. Its seems to me that competitors are writing a fake reviews. I saw my previous broker Forex.com review and it only had 2 stars review so i know its impossible. Every U.S forex trader know what Forex.com company is since they are very big company. Im happy with LMFX because of their huge leverage and just a little slow withdraw process is not a big deal for me.
 
Forex Peace Army
Review moderation team note
Your review went through the same screening for fakes as the reviews you disagree with.  Do you think everyone always has an experience that exactly matches yours?  Is there some reason why your review should be considered more reliable than reviews that disagree with you?
Reply by Maria LMFX submitted Feb 6, 2019:
Dear ji3200,

Thank you for the kind words! We highly appreciate it!

We are always trying to improve our services and we will do so in the future!

Please let us know if you have any questions!

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!

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.