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LMFX Review and Tutorial

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LMFX Facts & Figures

LMFX offers online forex and stock trading with low fees and high leverage.

 

Awards

None

Bonus 100% deposit bonus up to $30,000
Instruments Forex, CFDs, indices, shares, commodities
Demo Account Yes
Min. Deposit $100
Pay Methods FasaPay, Neteller, Skrill, Visa, Wire Transfer
Min. Trade 0.01 lots
Regulated By None
MetaTrader 4 Yes
MetaTrader 5 No
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading Yes
Social Trading No
Copy Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 3
GBPUSD Spread 2.6
Oil Spread 0.7
Stocks Spread Variable
Leverage 1:1000
Forex

FX trading is available on a range of currencies with tight spreads.

 

GBPUSD Spread 2.6
EURUSD Spread 1.1
EURGBP Spread 2.1
Assets 48
Risk Warning – Your capital is at risk

In this piece, you will get the chance to read the most authentic LMFX review from industry specialists about trading. LMFX is a stock and forex broker contribution MT4 trading with high leverage rates. This survey investigates LMFX’s forex sets, deposit and withdrawal choices, guideline status, rewards, and records.

LMFX Company Details 

LMFX is a trading brand registered in the Republic of North Macedonia. The organization has been running since 2017 and has taken on customers in areas all through the world, from Europe to Canada and Australia.

LMFX isolates itself through its profoundly leveraged forex trading administrations.

MetaTrader 4 

MT4 is a dependable trading stage broadly utilized by informal investors. It’s anything but a natural interface with an information-rich climate and profound market histories, making it robust for dealers of all experience levels.

The stage upholds mechanized trading through master counsels (EAs) and boasts more than 50 specialized markers, 30 outlining instruments, and nine-time periods. In addition, there is the capacity to create and customize features, and the stage is accessible to more than 30 dialects.

MT4 can be downloaded to the two Windows and Mac PCs from LMFX’s site once account registration is finished.

Read more on forex trading strategies

MT4 WebTrader 

The program-based form of MetaTrader 4 furnishes customers with an all the more promptly open stage. Requiring no download, WebTrader offers most of the usefulness of the work area customer while signing in from any PC with a program.

Note the work area stage’s strategy and pointer customization capacities are not accessible with WebTrader.

LMFX Assets 

LMFX offers a scope of tradeable instruments, including spot costs on cash matches and metals like a few CFD markets.

Forty-eight forex sets can be exchanged, included seven influential groups, 21 minors, and 20 exotics. In addition, there are 5 CFDs on commodities comprised of metals and farming merchandise, three energy CFDs, four valuable metal sets, including gold, and nine worldwide stock indices. Likewise, 36 stock CFDs comprised 15 NYSE shares, 11 NASDAQ stocks, and ten resources from the London Stock Exchange.

Learn more about DAX Robot

Spreads & Commission 

The spreads offered by the broker are not cutthroat, falling somewhat higher than the industry standard. For Premium records, the run-of-the-mill spread for GBP/USD is 2.6 pips, for EUR/GBP it’s 2.1 pips, and for EUR/USD it’s 1.1 pips.

The Fixed record doesn’t have variable spreads. However, their base rates are marginally higher than these ordinary qualities, coming in at 2.6 pips for GBP/USD, 2.2 pips for EUR/GBP, and 1.1 pips for EUR/USD.

Know what is pip?

The Zero record offers crude spreads with no increase from the broker. As a result, these spreads are lower at 0.8 pips for GBP/USD, 0.5 pips for EUR/GBP, and 0.2 pips for EUR/USD.

There are no commissions charged for Premium and Fixed record-holders, yet Zero records accompany a $4 per parcel commission. The broker likewise charges trades for standing firm on footings open for the time being.

Also, read how to calculate forex pip?

 Leverage 

LMFX offers severe leverage rates with their Premium record, moving to 1:1000, which is much higher than contenders like Forex.com and Hugosway. The Fixed record has lower leverage rates, at 1:400, while their Zero record offers leverage up to 1:250.

Subtleties of edge necessities are accessible on the site.

MT4 Mobile

Customers of the broker can likewise exchange in a hurry with the LMFX portable application. The application upholds all the request types accessible on the PC-based worker, including stop misfortunes, just as enduring value cites, one-tap trading, and entire market history. Be that as it may, there are fewer graphing alternatives and specialized markers accessible.

Funding & Withdrawal Options 

Deposits can be made using Visa or Mastercard installment cards, bank wire transfers, Skrill, Neteller, FasaPay, and Load e-wallets. LMFX’s minimum deposit is $50 for all strategies, except wire transfers, for which it is $250.

Deposits are free and instant for e-wallets. However, they can require 30 minutes for installment cards and 2-15 days for wire transfers. 

Withdrawals can be made by generally similar strategies, aside from the Load e-wallet. Minimum withdrawals are $10. However, wire transfers require $100. There are no withdrawal charges, and installments are prepared a similar workday for e-wallets yet can take 2-15 workdays for installment cards and wire transfers.

Demo Account 

Demo accounts are an excellent method to investigate a broker’s administrations, resources, and trading stages. LMFX offers a demo account with limitless utilization, permitting brokers to preliminary new strategies and test recent calculations and EAs. Then, whenever you’ve registered your subtleties, you’ll accept your login qualifications and can start trading.

Learn how to open a demo account?

LMFX Bonuses 

This audit was dazzled with the rewards and advancements offered to customers. For example, a 100% credit reward is accessible on deposits somewhere in the range of $100 and $30,000. Notwithstanding, 100 parts must be exchanged before the match reward can be removed. 

Likewise, the broker offers a 15% recuperation reward should you lose a portion of your underlying capital. This reward is both tradeable and withdrawable. There are additionally reference tips accessible, the subtleties of which are on the site. 

At long last, there is the ‘Learn and Earn Contest, a rivalry held amongst brokers utilizing demo accounts. There are genuine monetary rewards offered every month, and there is no danger to actual money implied.

Regulation & Safety 

LMFX is an unregulated broker by decision, selecting the high-hazard, high-reward benefits restricted by administrative bodies. For instance, UK and EU organizations limit retail dealers to leverage paces of 1:30 for forex trading. However, LMFX offers rates as high as 1:1000, expanding market openness and benefit potential. 

Although there is no office supervising the broker, legal documentation and data are given on the site. However, while this straightforwardness is generally characteristic of a trustworthy broker, we don’t prescribe joining to unlicensed suppliers. In addition to the fact that it raises the dangers of tricks, customers who experience deposit and withdrawal issues or different issues will have restricted legitimate alternatives. 

Luckily, customer surveys on LMFX’s standing are mostly sure by and large.

Additional Features 

The broker has a restricted scope of different administrations and instruments for customers. There are no instructive assets offered to clarify key terms and mentor new customers through the rudiments of trading, something that numerous different suppliers provide. 

LMFX gives a monetary schedule and seven diverse trading number crunchers, including Fibonacci, turn focuses, and hazard adding machines. The broker likewise offers a VPS administration and everyday market examination.

LMFX Accounts 

LMFX gives three record types focused on dealers with various methodologies and capital prerequisites. The Premium record is the best fit for standard trading strategies and less-experienced dealers. The Fixed record is helpful for automated trading utilizing master guides, and the Zero record is best for scalping and high-volume trading. 

Every one of the records offers fifth decimal valuing, admittance to MT4, and versatile trading, just as an individual record supervisor. Unfortunately, there are no Islamic trade-free records submitted at LMFX.

Premium Account 

  • Individual record supervisor 
  • Minimum deposit $50 
  • Spreads from 1 pip 
  • 1:1000 leverage 
  • Adaptable rewards 
  • No commission

Fixed Account

  • Individual record administrator 
  • Minimum deposit $250 
  • Adaptable rewards 
  • No commission 
  • 1:400 leverage 
  • Fixed spreads

Zero Account

  • Personal account manager
  • Minimum deposit $100
  • $4 commission per lot
  • Flexible bonuses
  • 1:250 leverage
  • Raw spreads 

Benefits 

A portion of the things we like best in this broker audit are: 

  • Demo contest with monetary rewards 
  • Automated trading upheld 
  • Negative equilibrium assurance 
  • High leverage rates 
  • Rewards and arrangements

Drawbacks

LMFX could work on in the accompanying regions: 

  • No digital currency and Bitcoin trading 
  • Restricted instructive assets 
  • Unregulated

Trading Hours 

The LMFX trading stage is accessible from 00:05 GMT+2 on Monday until 23:59 GMT+2 on Friday every week. Forex trading is open all through these occasions, though different instruments have more explicit events. 

Valuable metals and energy CFDs can be exchanged from 01:00 GMT+2 on Mondays to 23:45 GMT+2 on Fridays. In addition, other CFDs are accessible on various occasions given their nearby business sectors.

Customer Support 

You can associate with LMFX’s customer support group utilizing the live visit window situated in the lower right corner of their site. On the other hand, you can reach them using the telephone number or email address beneath. 

  • Phone – +44 2035192105 
  • Email – sales@lmfx.com 

We were dazzled by the brief and accommodating help we got from the customer support group when composing this survey.

Security 

LMFX utilizes respectable installment suppliers to lessen the danger of installments not being prepared. Moreover, the broker uses single attachments layer (SSL) encryptions on all site traffic and holds all customer capital in isolated financial balances.

LMFX Verdict 

LMFX is a cutthroat broker with a decent scope of tradeable instruments in addition to the all-around respected MT4 stage. The broker likewise offers incredible leverage rates and a few rewards while supporting automated trading and scalping. Be that as it may, LMFX is unregulated, which restricts your lawful assurance and may build by and may increase overall risk.

Accepted Countries

LMFX acknowledges merchants from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most different nations. 

Dealers can not utilize LMFX from the United States, United Kingdom, Japan.

Alternatives to LMFX 

On the off chance that you are searching for options in contrast to LMFX, we have ordered a list of the leading five brokers that are like LMFX beneath. This list of brokers like LMFX is arranged by closeness and incorporates organizations that acknowledge dealers from your area. 

  1. LQDFX – LQDFX offers internet trading with different STP records and MT4 examination devices. 
  2. Infinox – Infinox is a UK-based broker contribution MT4 trading with tight spreads. 
  3. HYCM – Trade on the monetary business sectors with minimal expense, leveraged items at HYCM. 
  4. Fortrade – Fortrade is a multi-resource broker contributing an essential live record with cutting-edge devices. 
  5. Hantec Markets – Hantec Markets is a multi-controlled online FX broker contribution MT4, and custom-fitted help gives tremendous adaptability to suit any dealer.

FAQ: LMFX Review

Would You Be Able to Win Genuine Money in the LMFX Demo Contest?

Answer: Even though the LMFX contest utilizes virtual money with their demo accounts, the prizes every month are genuine money that would then be used for exchange on live records. 

Does LMFX Offer the MT5 Stage?

Answer: The broker doesn’t offer MetaTrader 5 to its customers. In any case, its forerunner, MetaTrader 4, is given in each structure (work area customer, WebTrader, versatile application) and is one of the industry’s top stages. 

Are There Any Withdrawal Expenses at LMFX?

Answer: The broker doesn’t charge any withdrawal expenses and places no minimum and most outstanding cutoff points. In any case, the broker won’t cover any accuses related to the bank or installment strategy you are utilizing. 

What Deposit Alternatives Does LMFX Offer?

Answer: There is a decent scope of installment strategies upheld by the broker. Records can be financed or purged utilizing bank wire transfers, installment cards (Visa and Mastercard), in addition to Skrill, Neteller, FasaPay, and Load.

Is LMFX a Controlled Broker?

Answer: No, the broker doesn’t hold any licenses and doesn’t fall under guidelines by a monetary office. Instead, LMFX gives high leverage rates and fewer restrictions as a trade-off for a more hazardous trading climate.

Does LMFX Acknowledge US Customers?

Answer: No, LMFX doesn’t acknowledge brokers from the US. Merchants from the UK and Japan are additionally unfit to open a record.

Does LMFX Exchange Digital Money?

Answer: No, trading on cryptocurrencies, like Bitcoin, isn’t accessible at LMFX. To know more about LMFX, please read the LMFX review carefully. You will get everything you need to know.

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