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LMFX.com Review Visit site

Updated: Dec 13, 2018
3.257 · 87 REVIEWS
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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.com

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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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3.257 · 87 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

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

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LYNISTIX LLC,
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.
Dung Nguyen,
Can Tho, Viet Nam,
Nov 1, 2018,
Guest

Trading for a few months and everything is good

A friend introduced me LMFX and I’ve been trading with this forex broker for several months now. I see their MT4 trading platform is quite stable, I don't see any issue in trading but sometimes execution is quite slow but it's still executed at my expected prices. Variety account options and good responsive support team. Instant deposit and swift withdrawal. Recommened!
Munir Taju,
Layyah, Pakistan,
Sep 30, 2018,
Guest

Four stars for now!

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

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

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