LMFX Review | Expert Forex Broker Review

lmfx review

LMFX is heavy “customer-experience” focused which is also a top rated Forex broker. LMFX is an US-based Forex Broker which is perfect for great things in the Forex industry. The Support team of LMFX has fast response times on all manner of queries. So we can recommend this Forex broker without no hesitation.

LMFX is an entirely new Forex broker which is established in 2015 and have slowly been working with their customers to build a loyal following. Traders of LMFX can have multiple accounts with both real money and demo accounts which has outstanding support. As XM, LMFX too offers Islamic Accounts for traders of the Islamic faith. For an Islamic account contact the customer support for more information. LMFX is owned by Global Trade Partners Ltd, a company incorporated and governed by the laws of the Republic of Macedonia. They have registered head offices at 28 Koco Racin Blvd, 1000 Skopje, Macedonia and their support services are located from offices in Bulgaria. Traders from all over the world are welcome at LMFX including the USA. Traders located in Macedonia and Bulgaria are not welcome as the company operates in those regions.

Accounts

As we said above LMFX provides traders to have both Real and Demo accounts. If you want multi accounts, it can be arranged in LMFX too. Demo accounts are available for every trader up to a maximum of 3 demo accounts per trader. You are given up to USD 100,000.00 in demo funds per demo account. But if you need more, traders are given the ability to reload demo funds. Mainly there are four types of accounts in LMFX

  • Premium – setup for retail FX traders and provides a lot of flexibility 0.01pip micro-lots, up to 60 lots in a single trade and leverage of up to 1000:1.
  • Zero – This is a Zero Spread low-cost account that allows traders to trade on Interbank spreads. The account also has no Markups, and Tight Spreads. This type also allows you to have a leverage of up to 1000:1.
  • Fixed – Perfect for the traders those who want to trade with fixed spreads. Has a greater control accuracy for calculating positions. This type also allows you to have a leverage of up to 400:1.
  • PAMM – Referred to as “Percentage Allocation Money Management.” This type allows the traders to get help from the professional money managers to get a profit from trading. PAMM requires you to sign over power of attorney to your money manager. Your risk and rewards can be high.

Trading Platforms

  • Web Trader – This is the web-based meta trader which is offered by LMFX. It supports almost all modern browsers and provides a highly intuitive web-based trading platform. Recommended for new traders.
  • MetaTrader4 – This is the standard version of the Meta Trader of LMFX. The trader must download the MetaTrader to a desktop device and install it.
  • MetaTrader 4, Mobile Trading (IOS & Android) – Trading on mobile has been eased by the mobile meta trader. LMFX has offered Meta-trader 4 Mobile for mobile traders. It doesn’t have all the option in the desktop Meta Trader.

Customer Support

As said above LMFX offers incredible support. We struggled many hours to find any fault or something like that. So LMFX support is perfect. For a Forex broker which is stared in 2 years ago LMFX has achieved many things. Even the oldest Forex brokers focus on the number of traders than supporting them. The support team can be contacted easily via Email, phone, or the live chat feature which is on the LMFX website. I would recommend the live chat feature. The support team works 24hrs a day, five days a week (Monday to Friday). They do not work at weekends. But they send responses to the email inquiries. Support is also offered in Russian, Spanish and Arabic.


Banking Options

LMFX only provides accounts in USD and EUR. You can have leverage from 250:1 to 1000:1 depending on the account type. The minimum first deposit amount is €/$50, and the redeposit minimum is €/$25. Maximum deposits for credit cards have a limit of  $10,000 within a 24hr period. The minimum withdrawal amount is €/$10, and there are no charges for this. All withdrawal requests made before 10 am (GMT+3) will be processed on the same day. LMFX also offers bonuses such as the 100% deposit bonus. It is valid only for the deposits over 100$.

LMFX Supports a wide range of deposit and withdrawal methods. To start a withdrawal first, you should verify your account. Followings are the withdrawal options.

  • Credit Cards – VISA,  MASTER CARD
  • Electronic Payment – Skrill, Neteller, FasaPay
  • Bank Wire Transfer

Here are the deposit methods options

  • Credit Cards – VISA, MASTER CARD
  • Electronic Payment – Skrill, Neteller, FasaPay
  • Bank Wire Transfer

Why Trade at LMFX?

There are many reasons why we recommend you to start trading with XM.

  • LMFX offers leverage from 250:1 to 1000:1.
  • Welcomes the Traders from almost every country except Bulgaria
  • Demo account has no expiry time and offers $100,000.00 with reloadable demo funds
  • Promotions and Bonuses
  • Free VPS
  • Excellent, efficient Customer Support.
  • Tight spread and fast executions

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