LMFX is a trading broker based in Macedonia, Eastern Europe. It was founded back in 2008, and so far it was able to acquire a solid group of trusted clients – around 10.000 daily, to be exact. What makes this broker company stand out? First, we should emphasize that this broker has a pretty admirable selection of tradeable assets. You can trade them under astonishing conditions that are designed to contribute to your better trading experience.
Also, we should note that this company is not regulated. The only information about its origin that we could find is that it is operated by Global Trade Partners Ltd, which is a widely known company for unregulated brokers. The company is based in the Republic of Macedonia. Keep reading this LMFX review to find out more about this trading company and what makes it different than others on the market.
Quality of Service
The first thing we noticed about LMFX is that their trading platform is MT4, which has become an industry-standard in recent years. Also, the platform is easy to scroll through and loads instantly, which is quite important especially during a hectic trading day that happens often. Moreover, the platform only offers around 160 trading instruments, which is not at all impressing. On the other hand, you can trade with both fixed and variable spreads, which means that the spread can go anywhere between 0 and 25 pips.
Despite all of this, the platform is quite intuitive and offers a wide range of features, such as over 50 technical indicators that can assist you on your trading path, as well as help you design your strategy. The web platform is quite functioning and easily adjustable to any device, so you can use it on the go wherever you are. You can use it to check out the performance of all the latest assets available on the platform including indices, stocks, commodities, metals and oil.
Speed of Response
Unfortunately, the LMFX customer support team is not particularly helpful. They are reachable through many different communication channels, including live chat and email. Also, you can seek assistance 24/7 which is great. However, many clients have complained about the lack of knowledge among the agents, as well as slow response time. Surprisingly, we found the telephone option to be most useful for us, since you can try and talk your way through to the agent until you get the answers. Still, it should be easier than this, don’t you think?
LMFX has quite an admirable selection of payment methods that you can use to fund your account or make a withdrawal. We should note that each one of these methods takes different times to be processed, which is quite common. For example, the bank wire transfer takes the longest – up to 15 working days. On the other hand, the majority of e-wallets are able to process your transactions instantly, while the credit cards could take up to 30 minutes.
The great thing about LMFX is that there are no fees and commissions for deposits. No matter which amount or banking method you choose, you won’t have any surprises along the way. However, the withdrawals are a different story. Here, the fees depend on the account type of your choosing – premium, zero or fixed.
LMFX is an unregulated company, but they made sure to include different policies and guidelines to ensure safety on their platform. One of the most important ones is the Anti Money Laundering Policy, which is efficiently combating cybercrime and preventing other dangerous activities online. LMFX is dedicated to making all their business operations transparent, so you can always have an insight into the way they work to ensure extra levels of security.
Variety of Payment Options
LMFX gives you a great selection of banking options on their platform. They include some of the standard ones such as bank wire transfer, but also the more advanced ones among the e-wallets, including Skrill, Neteller and FasaPay. There are a lot of advantages with using each one of them, including fast processing times and no fees for deposits.