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LMFX4 min read
Broker Review
LMFX states that it allows customers to «trade everything everywhere» offering Equity CFDs and Forex markets on its site across 7 platforms. This site is secure and with client segregated accounts they emphasise this aspect of the site, although the absence of a license is something of a concern. Trading with tight spreads is another positive feature, while the range of bonuses and promotions on offer will be certain to attract interest. Let’s dive deeper and see whether LMFX really is a legitimate venue for Forex trading.
Users rating14 Votes
Pros Broker
Choice of trading accounts
Availability of bonus programs
Free Forex VPS feature
Multiple account types
Cons Broker
Dangerously high leverage
The site is in English only
No cryptocurrencies
No VIP account
Overall Broker Rating
Visit Broker

Review of the company

LMFX is a broker from Northern Macedonia. The place of registration of the LMFX broker is Saint Vincent and the Grenadines, a state located on the Antilles. As a Macedonian Forex broker, LMFX has been operating since 2015. In 2000, LMFX received registration in the state of Saint Vincent and the Grenadines.

LMFX is managed by Global Trade Partners Incorporated and GTP Global Solutions Ltd. Global Trade Partners Incorporated and a subsidiary of GTP Global Solutions Ltd. are private independent enterprises and are engaged in the provision of logistics services worldwide.

Logistics Headquarters is located in Toronto, Canada. Global Trade Partners Incorporated provides land, water, and air transportation.

Advantages of forex trading

LMFX broker provides clients with the opportunity to trade by opening three types of accounts, each of which will correspond to the interests of the forex trader. The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling. Thanks to the LMFX broker, purchase and sale transactions are possible using traditional currency pairs and exotic ones. LMFX offers Contract for Difference (CFD) on indices, commodities, stocks and non-ferrous precious metals.

To start Forex trading, you need to register a broker’s personal account and open an account, replenishing it with a minimum amount of $50, or equivalent. In the arsenal of the LMFX Forex broker there is a classic spread of 1.2 pip on the main euro-dollar pair. Such a spread is considered beneficial for the Forex broker.

The amount of leverage depends on the type of trading account. Premium trading account allows you to trade with a leverage of 1:1000. As you know, due to the large size of leverage, surprisingly profitable Forex trading is possible. However, cash losses in the event of a loss also become significant.

A forex broker from Macedonia offers to make purchase and sale transactions using the MetaTrader 4 trading platform. This popular trading platform is intuitively understandable. MetaTrader 4 has been tested for a long time and is considered reliable.

Forex trading features

Thanks to various variations of the charts and other indicators, the trader has a clear and clear idea of ​​all the changes in the international currency market. Automatic sales transactions using trading advisor programs make trading very easy. Each broker can use its own indicators, which determine the waves of the Forex trading trend. In addition to individual indicators for trading, a Forex broker can run simulations using well-known historical data.

At the services of Forex brokers with a different level of trading skill, LMFX offers educational programs, lessons, master classes, webinars, seminars. The curriculum is developed by Forex specialists with extensive experience in the market.

Analytics and training in trading skills

Forex trading analytics is extremely important. On the website of the Forex-enterprise LMFX, each ordinary trader uses analytical information from LMFX. At the LMFX site, you can use the Fibonacci calculator to make purchase and sale transactions, calculate the pivot of points, the size of a position, the value of a point. An economic news calendar will help determine the future value of assets of interest.

Especially for Forex brokers, from Monday to Friday, round-the-clock online support is available. You can contact your LMFX representative by phone or email.

It is possible to replenish an account using a bank transfer, using debit and credit cards, through an online transfer of Neteller, Skrill, FastPay systems. On the trading platform, the smallest deposit of $50 or its equivalent is possible. Withdraw a minimum of $10 from the account.

Additional Information

Forex analysts believe that trading on the international Forex currency market together with the LMFX broker will be preferable for more experienced brokers. On the LMFX trading platform, there is no training demo account on which newcomers learn to trade. Sufficiently risky terms of cooperation are more suitable for traders with a solid amount of trading capital.

A feature of cooperation with the LMFX broker is that all possible legal disputes and discussions between the trader and the LMFX company are submitted to the offshore zone, the place of registration of the LMFX company. Namely, the territory of the island state of Saint Vincent and the Grenadines.

It is important for an investor to evaluate all the risks associated with trading in the international currency market together with the LMFX broker. The ability to protect the investor from illegal actions of the broker is more powerful if the trading of the trading platform is regulated by the official regulatory authorities.

In opposite cases, the finances of an ordinary investor are completely dependent on the degree of legality of the Forex enterprise.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.