Independent rating of Forex broker LMFX

About company

LMFX forex broker is owned by Global Trade Partners Ltd. and registered in the Republic of Macedonia. The company offers trading services and tools to both retail and institutional clients. The payment solution provider is GTP Global Solutions Ltd, which is based in Saint Vincent and the Grenadines. LMFX is registered in the offshore zone. This does not necessarily mean that the company is licensed or regulated by any financial authority. Usually brokers choose tax haven countries because the process of registration is much cheaper and easier there. Most often, the activity of brokers is not scrutinized, and they are not required to participate in investor compensation schemes. With this in mind, we would recommend that traders carefully study all information about LMFX before starting to trade and invest with this broker.

Trading conditions

• Forex trading (traditional and exotic currency pairs), CFDs on commodities, indices, stocks, and precious metals
• three trading account types
• training section for novice traders
• МТ4 trading platfor
• demo account for beginners
• no commissions
• daily market analysis
• LMFX economic calendar
• online account management portal
• one-click tradin
• support service available 24/
• scalping allowed
• bonus programs and contests

Trading platform

LMFX offers its clients to trade on MetaTrader 4 (MT4), the most popular trading platform among the Forex community. The platform is available on desktop and mobile devices. The MT4 platform is user-friendly trading software designed to provide traders with all the necessary resources and tools for comprehensive market analysis. МТ4 makes the process of transactions much easier. It also enables traders to create and apply Expert Advisors - the automated trading systems. MT4 users especially favor the platform for a wide choice of trading signals.

Support service

Customers can contact the broker via Live Chat and by email or phone specified on the website. The support team speaks several languages.

Traders’ reviews

Most of the feedback on LMFX found online is negative. Traders complain about high spreads, disruptions to the platform operation, and the change of trading conditions without seeking their approval. However, clients point out a prompt response from the support service team.

Advantages:

• fast execution of orders
• high liquidity
• demo account
• no commissions
• one-click trading
• broker supports scalping
• bonus programs
• high leverage
• great choice of trading assets
• analysis tools
• MT4 platform
• free training for beginners

Disadvantages:

• unregulated broker