For those who need institutional trading solutions via FIX API, then FXPIG are worth consideration. lmfx review provides two bonuses to traders, which represent a core marketing tool. Terms and conditions apply, and traders are advised to read and understand them. LMFX implements acceptable conditions, making the 100% Deposit Match Bonus an excellent offer, if understood and used correctly. It can provide traders with a narrow focus on select assets with an offer worth considering, especially if access to other tools is available. The Learn & Earn Contest runs in demo accounts and provides real cash awards deposited in a live trading account at LMFX.

• LMFX should, instead, offer them as MT4 plug-ins, where traders can effectively deploy them.
• It allows me to easily do everything that I need to and much more.
• Although that sounds bit low but i am a part time trader so it usually helps me paying my bills so its fine.
• A 100% credit bonus is available on deposits between $100 and $30,000.
• Trading carries a high level of risk and may not be suitable for all investors.

Despite its opaque ownership, LMFX has no negative reviews and its five years of operating history suggests that it manages a trustworthy broker. LMFX accepts US Forex traders, as it does not have to comply with restrictions which would otherwise prohibit it from doing so. The foreign exchange broker’s goal is to offer customers competitive trading conditions to share forex, and CFDs on commodities, shares and indices. LMFX offers a comprehensive range of mobile and desktop MT4 platforms, but lacks in its regulation, research and customer service. The MT4 platform has an intuitive user interface with a wide range of features making it the preferred platform of choice for many new and experienced traders. In MT4 you can view trading instruments real price quotes from the market watch window and load charts in 9 time frames.

Commission and Fees

LMFX claims to keep customers’ funds separate from its operations funds in many pooled accounts across several organisations and countries. They claim that if LMFX goes bankrupt, all client monies kept in these segregated accounts would be refunded to clients, except for their management and distribution fees. However, if like many traders you would prefer to use a regulated broker, AvaTrade are regulated in multiple jurisdictions. The Second account type offered by LMFX is called a Fixed account. Traders can be certain that if they open a trade with 3 pips spread, the trade will be closed with 3 pips of spreads.

As our clients are our top priority we will be more than happy to assist further with providing more information. If you still have any questions, we kindly ask you to contact our Customer Support via phone, email or LiveChat and we will gladly assist you. During the ongoing investigation, your case has been forwarded to and re-reviewed by our Liquidity providers as we wanted to make sure that it reaches a successful resolution.

I like how they have deep liquidity pool that implements liquidity from various providers to ensure they can deliver fast execution speeds at the best market prices with minimal slippage. This makes them a suitable option for all trading strategies, including scalping and automated trading with expert advisors. I would compare them to Traders Way in terms of trading environment. LMFX notes seven trading platform on its homepage, but it only provides traders with the below-average out-of-the-box MT4. It lists the availability for the MT4 as a desktop client, webtrader, and three mobile alternatives for a total of five versions of the same product. The MT4 infrastructure allows traders to upgrade the core version into a cutting-edge trading terminal, but it requires paid-for upgrades, which LMFX does not provide.

Fixed Account 🔧

For Premium account holders, the minimum trade size begins at 0.01 lots, and traders can trade up to 60 lots in a single trade. Traders will need to make a minimum deposit of $50, and can sign up to for an LMFX demo account to practice before signing up. If regulation is a crucial aspect of your trading experience, we recommend reviewing some safer alternatives from our list of best forex trading platforms. ECN accounts are available to trade over 45 currency pairs, as well as precious metals, stocks and stock indexes and commodities as CFDs. LMFX broker accepts all trading methods, including EAs, news spike trading, and scalping.

While the Premium account offers insanely high leverage, there is a catch. And, the catch is that it has a margin call threshold of 50%, much higher compared to the other two accounts, where the margin call threshold is set at 30%. So, if you use high leverage, you will likely get a margin call much faster with the Premium account. The last account type you can have with LMFX is their Premium account.

LMFX Review 2020

However, the problem with such an approach is that during highly volatile market conditions, the Fixed account tends to skip filling market orders if the price moved too fast. But we found that during relatively regular market conditions when liquidity and volatility are stable, the Fixed account provides accurate quotes and fills the orders with predictable spreads. 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.

Their website does provide new traders lessons via an animated video. LMFX also provides numerous important forex calculators which enable traders to have complete statistics on their trades. These include the Fibonacci, Pivots Point, Position Size, and Pip Value calculators.

LMFX, owned by North Macedonian-based Global Trade Partners Ltd, is an unregulated multi-asset broker which has been in operation since 2015. Regrettably, there is no information available about Global Trade Partners Ltd. Research suggests that LMFX has accepted clients since 2015 and that the support team operates out of Bulgaria.

Regulation

The market includes forex, commodities, indices, shares, metals and oil. They have several account options come with com or zero com but average spread, I would rather https://forexbroker-listing.com/ take the raw spread one with $4 com per lot. Some brokers I’ve tried before can process withdrawals within a day with a local payment method (i.e local bank).

Trade with a Regulated Broker

Therefore, each trader must assess if LMFX fulfills their requirements of a trustworthy Forex broker. LMFX accepts a good range of deposit and withdrawal options, including bank transfers, credit cards, and electronic wallets. Within the client area, you may fund and withdraw from your account using whatever payment method you like.

However, the ability to customise strategy and indicators on the desktop platform is not available on LMFX’s MT4 WebTrader. Account verification is neceesary in order to get timely withdrawals. Demo account is free to download and use however i am now on live trading for the last few months (7-8 months) and every thing seems to be going great. LMFX has positioned itself to leverage its lack of regulatory oversight to offer its services to a broader range of Forex traders, including traders from the United States.

This broker is also a market maker and profits directly from client trading losses where it acts as the counter-party. Traders will pay swap rates on leveraged overnight positions, and third-party transaction costs apply. The overall pricing environment is not very competitive but neither is it excessive, placing this broker in the middle of the pack compared to all online brokers.

While in combination, these courses will not teach the learner to be an expert trader, they will provide foundational knowledge in Forex trading. Compared to other options, LMFX providing competitive conditions for Forex, CFD index, and share trading is good but not exceptional and they do lack a research section. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website.