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LMFX is an innovative online broker that offers organizations and individuals to trade currencies, commodities, stocks, and metals in the market. The broker`s main goal is to provide a unique trading experience and the most competitive trading conditions available to every client.
The broker`s website is only in English. However, traders from the CIS countries can register with LMFX.
The broker’s website does not contain any information about licensing and regulation. In addition, little is known about the company’s earlier history. However, on the official website, LMFX reassures its users that it keeps clients’ funds on segregated accounts, ensuring their safety.
Trading conditions
The list of LMFX’s trading instruments include currencies, indices, commodities, metals, stocks, and oil. Traders can choose among 3 types of live trading accounts: premium, standard, and zero. Trading conditions can be found in the Trading section of the broker`s website.
LMFX provides quite an affordable initial deposit of 50 USD. The leverage level is 1:1000. The broker points out low spreads and no commission on transactions.
Novice traders can improve their skills with the help of a demo account. The Education section contains training materials, analytics, and economic forecasts.
LMFX offers bonuses, promotions, and contests, as well as various investment options.
Trading platforms
LMFX clients can trade through the popular MetaTrader 4 trading platform.
Support service
Clients can contact the company’s support service via a feedback form, by phone or email. All the contact information is listed on the official website. In addition, there is Live Chat that allows users to get assistance in a real time mode.
Deposit and withdrawal of funds
Deposits can be made by means of wire transfers, credit/debit cards, and Neteller, Skrill, and FastPay online payment systems. The minimum deposit is 50 USD. The minimum withdrawal amount is 10 USD.
Withdrawals are carried out in the same ways as deposits.
Feedback
Clients mainly complain about changes in the terms of trade which were not agreed with them. However, the broker gives answers and clarifies most comments of users. In general, we can say that LMFX has proved to be a reliable broker.
Advantages and disadvantages
Pros:
- vast selection of trading instruments
- well-organized support service
- MT4 trading platform
- demo account and training programs available
Cons:
- no license
Conclusion
LMFX is a reliable and experienced broker. The trading conditions offered by the company include an affordable initial deposit, a wide selection of financial instruments, and favorable spreads. However, we recommend that you start trading with small amounts of funds. Remember that the broker is not regulated. Perhaps only this fact and some negative comments from users undermine trust in LMFX.
