LMFX Review

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

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

LMFX

Broker Details

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

Live discussion

Join live discussion of LMFX.com on our forum

Go to forums

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.


Video

Your company video here? Contact ad sales

3.368 · 126 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

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.
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!
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!
USA, USA,
Dec 21, 2018,
Registered user

Good service. Needs crypto.

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

If anyone from LMFX is reading this. I highly recommend adding crypto deposits and withdrawals.
 
Brooklyn, New York, United States,
Dec 11, 2018,
Registered user

LYNISTIX LLC

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

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

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



Thank you for your feedback!



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



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



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



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



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



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



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



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

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

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

We stay at your disposal should you have any questions!

Happy holidays!
Golden Light,
Sacramento, USA,
Dec 10, 2018,
Guest

Super happy

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

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

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

Happy holidays!
Nick Allan,
Alfonso, Philippines,
Dec 10, 2018,
Guest

Good

lmfx keeps a good track record, very active both in the community and through their support. so far i uave traded a couple of months live. all questions answered, and they did provide the right expectations regarding forex trading which i like. if i was to point out something it would be withdrawal options, i hope there were more available especially locally. maybe in the future.
 
SAMEER SAM,
Islamabad, Pakistan,
Dec 2, 2018,
Guest

Earning possible with this broker

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

Can't say any much about the spreads because they are most likely similar. I only trade 0.01 lots only because this hrlps me chasing small amounts in daily basis. I heard many voices of getting rich by trading high lots but i have no hassle to double but to earn regularly. So i can say that this broker system is good for trading daily.
 
Marco,
Mexico,
Nov 21, 2018,
Guest

Would be cool that accepts cryptocurrency deposit/withdrawal. Everything involved with trading it's good
 
Joshua,
Prince George's Park, Singapore,
Nov 19, 2018,
Guest

Credible broker

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

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.