Investors requiring Islamic banking accounts should note that LMFX can not serve their needs due to the overnight swaps that LMFX charges. Lot sizes can range from 0. The premium account also provides a personal account manager who may be very useful when there are problems. Those doing scalping or high volume trading are best suited for this account which has a leverage of up to A stop out is a liquidation to avoid further account losses.

The stop out is triggered automatically when the value is reached and will close all open positions. LMFX charges commissions and several other fees, including:. LMFX has both fixed and variable spreads, but the spreads can change, and this can be from zero pips to 25 pips, all depending on the market volatility.

Knowing what you are working with is critical. This broker currently offers different assets for trade. LMFX offers 48 currency pairs, so that most traders will be happy with this selection. Pricing is Variable with the Premium account; fixed with the Fixed Account and tight spreads plus commission with the Zero Account. Swaps are allowed, and triple SWAPS are applied on positions held over a Wednesday.

LMFX has trading of 9 indices from the U. These are in CFD form with leverage and low commissions and no overnight charges. LMFX has CFD shares available for the NYSE 15 stocks , Nasdaq 11 stocks and London Stock Exchange LSE with swaps available triple on Wednesdays. Gold, Silver, Natural gas, and Oil can be traded against the USD, Oil against the U. pound, and Gold and Silver against the Euro.

Swaps are allowed, and triple swaps are paid for Wednesdays. Coffee, Copper, Palladium, Platinum, and Sugar can be traded.

All commodities are traded in CFD form. Swaps are possible, but triple swaps are paid for Wednesdays. Registration for a free demo account is easy; just put in an email address and LMFX will send you a verification link; once verified, a second email provides you with your login and passwords.

Next, you will need a color copy of your passport or another government-issued photo i. Here are the available methods for deposit and withdrawals that LMFX offers as well as the withdrawal fine print :. LMFX is currently using MetaTrade 4 for their platform. MT4 is available on Windows Desktop, Apple iOS, with both phone and tablet forms, and on Android.

The MetaTrade 4 platform is popular and likely already known by experienced traders who have used it on other trading sites. MT4 has gained traction because of its intuitive graphical user interface GUI and a decent supply of technical trading features. MT4 provides quick access to market quotes, trading instruments, and efficient loading of its charts. The MT4 platform has over 50 technical indicators, including trends, oscillators, volumes, Bill Williams indicators, and several custom indicators.

The MT4 platform will also allow the user to create any customized indicators as well as set alerts, allowing them to monitor the market more efficiently. Because of the use of MT4 on many brokerage sites, there is a massive supply of available information, strategies, and tactics for using MT4 on several sites. The mobile and web versions of MT4 are also quite good and will closely match the desktop version; useful for traders who are on the go and need access to their trading account from anywhere with an internet connection.

We found that the web version suffers from server connection issues, especially if simultaneously logged onto the desktop version; maybe we were unlucky, but it did happen. MT4 was designed to trade Forex; however, there is an MT5 offering that has been available since , and it is intended to better trade non Forex CFDs. MT5 is not currently available on the LMFX platform, and there is no mention of when or if it will eventually be available.

The VPS is meant for those using an automated Expert Advisor or with an unreliable internet connection. LMFX provides an economic calendar for their clients, which is especially useful for fundamental analysis to keep up with the latest news and automatic trading movements.

LMFX is operated by Global Trade Partners Ltd, which is registered in Macedonia and their offices are in Bulgaria. Their main goal is to establish a global presence with their top-tier trading kits and services. Despite operating as a broker for more than five years, LMFX is not regulated. Very little information is given about their parent company, Global Trade Partners Ltd.

However, they are registered as a broker in North Macedonia. Their registration number is Despite being a registered company, the CNMV, or Comisión Nacional del Mercado de Valores, suggest traders to be wary of brokers that this Spanish financial regulator does not regulate.

However, this does not mean that LMFX is a scam. This only means that LMFX is not under close monitoring by any financial regulator. There are five markets available on the LMFX platform. These are forex, indices, commodities, metals and oil, and stocks. Their assets are pretty limited, but they do have the seven major pairs, which is probably good enough for some traders.

However, suppose you are looking to trade major indices, specifically the Hang Seng index of Hong Kong, the Shanghai SE Composite index or China, or Nikkei of Japan. In that case, you are better off with a different broker that offers these products. They also lack lumber, cotton, cocoa, wheat, and soybean in their tradable commodities list.

For metals offered, they do not have aluminum, nickel, lead, and iron. As much as they offer shares of listed companies from the United States of America and the United Kingdom, these do not include a lot of stocks.

It is worth noting that access to markets such as the Hang Seng index is a big disadvantage. LMFX does not offer ETFs or exchange-traded funds, either.

Trading ETFs gives the capability to invest or trade in a particular sector. Without access to this and a lot of specific stocks, traders do not have greater options to diversify their portfolios. Without this, there are limited options for hedging your account. This means you have lesser room for mistakes if you want to protect your equity.

LMFX, as the name suggests, specializes in foreign exchange. They have 48 currency pairs to choose from. Spreads when trading this asset class can reach as low as 0. Non-zero accounts, however, can only reach as low as 0.

Leverage starts at and can go as high as The used margin for trading forex is around USD depending on which forex pairs you choose. It can go up to 50, USD when tradings exotic pairs.

For pairs EURDKK, EURNOK, USDDKK, and USDNOK, trading starts at AM to MN. For USDRUB, the trading session is open from AM to PM.

The best alternatives for traders — get professional trading conditions with a regulated broker:. These are countries are Australia, France, Germany, Spain, the United Kingdom, and the United States of America. Spreads start at 0. The used margin for indices begins at 50 and can go up to Below is the list of available indices on LMFX and their corresponding trading hours.

Trading commodities is quite simple with LMFX. All you have to do is purchase your desired contracts of a commodity and decide whether to go long or short. There are five tradeable assets that consist of both soft and hard commodities. Spreads begin at as low as 0. The trading schedule and available commodities are listed below:. As a client of LMFX, you will have the option to invest in precious metals as well as oil using different denominations. These denominations are USD and EUR. The leverage for their metal products is at a fixed Spreads reach as low as 0.

Trading hours start on Monday at AM and end on Friday at PM. Trading UKOIL, however, begins at AM instead of AM. The great thing about LMFX is that you can trade stocks from both the US and United Kingdom markets.

The stocks available are from NYSE New York Stock Exchange , NASDAQ Nasdaq Stock Market , and LSE London Stock Exchange. Since LMFX offers these shares as single stock CMDs, you can trade these either long or short with leverage. LMFX uses the MetaTrader 4 or MT4 platform for trading. This software is well known because of its simple interface and helpful tools. Trading using the MetaTrader 4 platform gives clients the ability to trade accurately because of how fast their servers are.

Aside from this, MT4 also has a lot of other features, such as built-in indicators and the ability to use and produce your EAs. LMFX offers five account types, Premium, Fixed, Zero, Demo, and an Islamic account.

Each of these accounts has its own corresponding fees and spreads. Denominations for all accounts are USD and EUR only. Spreads, as well as commissions, vary depending on each account. Premium accounts are ideal for regular retail traders as well as newbies. Premium account holders are allowed up to open trades, and each trade can be as small as 0.

The maximum leverage that premium account holders can use is Signing up to their Premium account entitles you to your own account manager, and you will have access to all their trading platforms.

To register, you will be asked to input your full name, contact number, date of birth, email address, and your desired currency. You will also need to send them a copy of a government-issued ID and a Proof of address. Fixed account holders can use up to leverage.

The Zero Account was made with scalpers and high-volume traders in mind. With as low as 0 spreads, they can trade with ease. The platform boasts over 10, users who find plenty of benefits. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage.

As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience.

Founded in , LMFX is an online broker that provides trading services for individual and institutional clients across the globe. LMFX offers a comprehensive range of mobile and desktop MT4 platforms, but lacks in its regulation, research and customer service. The broker does offer trading competitions, where clients can trade to win prizes, and offers a high leverage. But overall, the broker receives a lower score across the board when compared to its competitors.

We recommend that you start your journey with this in-depth forex trading guide. The broker claims that they follow the laws and regulations of the country they are situated in — The Republic of Macedonia. This, they say, is an advantage for traders as it enables them to provide a high leverage of up to on their Premium Account Type. The broker also states that they have a thorough Anti-Money Laundering Policy and Segregated Accounts. LMFX says that traders funds are sent to individual client accounts that hold all the pooled funds separately to the funds of the company.

The brokers goes on to state that this means the accounts are segregated, and in the event that LMFX can no longer offer its services to clients, all the funds from clients will then be returned as they will have been correctly accounted for before any kind of trading activities are terminated.

The issue with these statements however, is that as LMFX is unregulated — leaving no way to ensure that these procedures are in fact in place and will happen given the situations stated.

Again, to be clear in answering the vital question of is LMFX regulated? The answer, is no. Since LMFX is unregulated, traders should exercise caution, particularly when dealing with an unregulated offshore broker. Any protections that investors may have through regulations will not apply to unregulated brokers like LMFX. If regulation is a crucial aspect of your trading experience, we recommend reviewing some safer alternatives from our list of best forex trading platforms.

The broker does charge commission and several other fees including;. The broker offers both fixed and variable spreads but spreads are subject to change.

This means that it could be 0 pips, or it could exceed 25 pips. Traders can open an LMFX demo account to get a feel for the online trading markets and its conditions. More experienced traders will be able to test strategies and experience the LMFX trading platform for free. First time customers will need to register with LMFX first, and existing clients can login to their Wallet and open a trading account from there.

All traders should ensure that you fully understand the current information before you decide to open an LMFX broker account. The minimum lot size is 0. Leverage of up to is available on this account type. The account allows clients to trade up to 60 lots in one trade. The brokers zero account offers low trading with no mark-ups and spreads as low as 0.

Traders can also trade on raw interbank spreads and bring the cost of your trading down. A minimum lot size is 0. You could receive a leverage of up to with a zero account. This quick guide to forex leverage covers the fundamentals of risk management and smart trading.

It has a minimum lot size of 0. This account also offers a leverage of up to

Beware LMFX Review is a Non-Regulated broker. It is NOT SAFE to trade. It is not safe to trade with LMFX , because it is an unregulated broker. In addition, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

LMFX is an innovative online foreign exchange broker that offers advanced institutional and retail trading conditions to a global audience. It also provides a comprehensive range of mobile and desktop MT4 platforms so that the traders never miss a market movement. According to the website, LMFX offers leverage from to Check best forex brokers with high leverage. About LMFX 🗺️ Registered in St.

Global Trade Partners Ltd. is an investment firm that operates as a global broker under the name LMFX. LMFX is governed and supervised by the Saint Vincent Finance Service Authority FSA. However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders.

Therefore, it became an offshore zone for shady forex brokers such as CVC Markets , AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link. LMFX offering, the company is not officially registered with any industry authority to offer trading services, while its performance is not overseen or supervised by anyone. In any case, we never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable.

The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry.

LMFX allows Indian traders to open accounts and trade. However, LMFX has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India Find the best forex trading platform in India. The US is among the See the Best Forex Broker for US Clients countries that cannot register with LMFX, along with the United Kingdom, Japan or any other jurisdiction that would be contrary to local law or regulation.

LMFX offers a mobile trading app for traders convenience. Mobile trading allows traders to manage their accounts from portable devices like smartphones, pocket and tablet PCs. In MetaTrader 4, mobile trading offers a great variety of analytical options and graphical display of quotes in addition to complete trade account management. LMFX mobile app is compatible with all Android and iOS devices. LMFX offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option.

Demo accounts are a wonderful way to get an introduction into the online trading markets and allow traders to experience — as closely as possible — the actual market conditions they will be exposed to. LMFX demo account provides the ability to trade from the LMFX platform of choice and mirrors as closely as possible actual market conditions.

Overall, there are many questions in regards to the trust of the LMFX company services and the manner they do operate the online trading itself. We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations.

Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex , BlackBull Markets and FXTM Learn about FXTM.

You can also share your trading experience with LMFX by commenting on this review. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Skip to content LMFX Review LMFX www. Reason to avoid: Offshore license Listed Date: August 19, Top 1 BDSwiss Review Top 2 BlackBull Review Top 3 FP Markets Review.

Our Review LMFX User Reviews LMFX News Is LMFX a scam or a legit broker? What is LMFX? All User Review 0 Add Your Review. Leave a Reply Cancel reply Your email address will not be published. Type the text displayed above:.

Very little information is given about their parent company, Global Trade Partners Ltd. Once newbies are comfortable with their performance in their demo accounts, they could confidently move on to trading with real cash and gaining real profits. Your capital can be endangered. LMFX does not offer ETFs or exchange-traded funds, either. is an investment firm that operates as a global broker under the name LMFX. Traders can also trade on raw interbank spreads and bring the cost of your trading down.

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