LMFX Review

Minimum Deposit: $50 VISIT BROKER
Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

LMFX offers good options of trading instruments across several markets and a variety of account types to accommodate different trading styles. In addition, they provide easy-to-use trading platforms with minimal spreads, no commissions, and swift executions. Customers also have access to various handy payment alternatives, trading tools, and 24/5 customer service.

LMFX Review


LMFX is a retail forex and CFD broker. The broker was founded in 2008 and has its headquarters in Macedonia. Although any country’s regulatory authority does not regulate LMFX, this is not the only reason to jump right to conclusions. The broker has a good trading environment with a decent financial products portfolio and a well-known trading platform. They offer spreads from zero pips and fixed spread accounts. In addition, the broker has decent trading fees when compared to its competitors. You will find they have some average educational resources along with some trading tools to assist with your market analysis.

7Expert Score
LMFX Rating

LMFX offers trading online via an easy to use platform with a variety of tools so that you can analyse the markets for trading signals. You can trade CFDs conveniently via desktop and mobile with low commissions and tight spreads from zero pips.

Trading Products
Commissions and Fees
Platforms and Tools
Research and Education
Deposit and Withdrawal

LMFX Review

Pros and Cons

LMFX has no deposit or withdrawal fee and has a small minimum deposit requirement for a premium account. The broker has a variety of trading instruments with very tight spreads and low commissions. In addition, the broker offers super-fast order executions on its trading platform with a free VPS service. Moreover, LMFX has a handy economic calendar so that you can keep track of the latest market news.

On the other hand, LMFX requires a minimum deposit of $50 to trade on a premium account. In addition, the broker is not regulated by any government body around the world and does not disclose its financial statements in public. Finally, the broker only provides trading online via the MetaTrader 4 platform on desktop, web, and mobile devices.

  • No deposit or withdrawal fees
  • Numerous supported payment methods
  • Instant deposit times
  • Tight spreads
  • 3 different account types
  • Zero spread account
  • Access to 48 forex pairs
  • Stock CFDs
  • MetaTrader 4 trading terminal
  • Demo account
  • Wide range of forex trading tools
  • Economic calendar with macroeconomic indicators
  • Low Minimum deposit
  • Good variety of tradable assets
  • Free VPS for qualifying traders
  • No inactivity fees
  • Responsive customer support
  • MT4 only
  • $250 minimum deposit from bank wire transfers
  • Unregulated
  • No Islamic swap-free accounts
  • Limited market analysis
  • No trading courses, webinars, or podcasts

LMFX Review

Trading Products

LMFX has a limited choice of over 150 financial instruments in a variety of markets, including Forex, Indices, Commodities, Stocks, Metals, and Oil. In addition, you can trade stock CFDs with leverage with LMFX. The LMFX single stock CFDs track the prices of the underlying stocks without needing to actually take physical ownership of the stock in question. However, LMFX lags in providing access to cryptocurrency, options, bonds, and ETFs markets. I think they will do the job if you are just looking to trade forex but for a better selection of instruments you might want to take a look at RoboForex as they have over 12,000 in comparison.

LMFX Instruments Summary

Instruments LMFX
LMFX Instruments

LMFX Review

Commission and Fees

Commission and Spread Fees

LMFX provides a trading account to meet each trader’s trading needs, risk, and accessible investment. You can trade with zero commissions and reasonable spreads starting from 1.0 pip on a premium account with a minimal deposit. You can also choose to trade on a fixed account and enjoy fixed spreads as low as 1.2 pip with zero commissions. However, the minimum deposit for a fixed account is $250. You can get access to better conditions with a regulated broker and a $5 deposit in XM Group. On the other hand, if you are a day trader or short-term trader, you can enjoy spreads starting from 0.0 pip and a commission of $4 per standard lot on a zero account. While trading Shares CFDs, LMFX charges a fixed 0.10% commission. The broker has no swap-free account to offer at this time.

Fee Premium Account Fixed Account Zero Account
Commission (per standard lot per side)$0$0$4
Spreads from1.01.20.0

Deposit and Withdrawal Fees

LMFX does not charge any deposit or withdrawal fee from its clients, no matter what payment method they use while making a transaction.

Inactivity Fees

LMFX does not charge an inactivity fee from the customers who have not conducted any trading activity on their accounts in a while.

LMFX Review

Platforms and Tools

LMFX only provides the most common trading platform used by almost every retail broker, which is MetaTrader 4 from MetaQuotes. The broker provides access to its MT4 desktop, web, and mobile applications on every account. LMFX has no proprietary trading platform and does not offer social trading services as well. I think they could improve by adding support for MT5 and cTrader. You can get both MetaTrader platforms and cTrader through other brokers including Axiory and Pepperstone.

MetaTrader 4 (MT4)

Day traders rely on MT4 as a steadfast trading platform. It is suitable for traders of all levels of capability since it combines a handy interface with a data-rich environment and historical data across various markets. You can use MT4 to trade manually or use expert advisors (EAs) to automate your trading strategies on the platform. Moreover, MT4 has over 50 technical indicators, 30 charting tools, and 9 timeframes. This gives you lots of options when it comes to analysing the charts for potential setups. The platform may be used to create and custom indicators, and it is accessible in over 31 languages.

MT4 Platforms
MT4 Platforms

WebTrader (MT4)

LMFX provides access to the MT4 WebTrader. This is MetaTrader 4’s browser based version which provides you with convenient access to the platform from any device with a web browser. WebTrader is a trading platform that provides much of the functionality of the desktop version whilst ensuring that you always have the latest version running without needing to install any software. However, the ability to customise strategy and indicators on the desktop platform is not available on LMFX’s MT4 WebTrader.

LMFX MT4 Web Trader
LMFX MT4 Web Trader

Mobile Trading (MT4)

LMFX makes mobile trading easy with access to the MT4 mobile trading app. This MT4 mobile platform is compatible with both Android and iOS devices. MT4 is beneficial to people who trade on the go and require access to their trading account from any location with an internet connection. The trading app has many functions as the other platforms, such as placing, managing, closing trades, and chart analysis. It’s also possible to set up push notifications to send you alerts when your target price is reached. This can save you from hours of chart watching.

LMFX MT4 Mobile App
LMFX MT4 Mobile App

LMFX Platforms Summary

Platform LMFX
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
Social Tradingx
Other x
LMFX Platforms

LMFX Review

Research and Education

LMFX lags a bit from its competitors when it comes to educational and research resources. The broker does not offer much in the education section on its website. You will only find some standard trading tools and an economic calendar with fundamental macroeconomic data of countries. Furthermore, the broker provides a series of video tutorials for its MT4 trading platform. In addition, LMFX has a blog where they share market news and some fundamental analysis regularly. I could not find any trading courses, guides, webinars, or podcasts on their website. If you are a beginner and looking for a broker with lots of content to help you along your way, FXTM have a generous selection.

However, the broker offers many trading calculators such as:

  • Fibonacci calculator
  • Pivot Points Calculator
  • Position Size Calculator
  • PIP Value Calculator
  • Risk & Reward Calculator
  • Risk Percentage Calculator
LMFX Video Tutorials
LMFX Video Tutorials


There is an option of a virtual private server (VPS) that already has the LMFX MT4 platform installed so that you can start trading instantly. It costs $20 per month or is free to clients of the broker who make a deposit into an LMFX trading account of at least $5,000. I think a VPS is great if you want to remotely run your platforms. I do this for my expert advisors (automated systems) that I need running around the clock. It is worth noting that you can get a free VPS from other forex brokers including Switch Markets.

LMFX Research and Education Summary

Resources LMFX
Market Analysis
Trading Centralx
Economic Calendar
Other (Trading Calculators, VPS)
LMFX Resources

LMFX Review

Deposit and Withdrawal

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. Some methods, such as debit/credit card payments, can be instant, while others, such as bank transfers, might take a few business days to clear. Please keep in mind that certain payment options are only available in certain countries. You can deposit a minimum of $50 using debit/credit cards or any electronic wallet, but the minimum deposit for bank wire transfer is $250, which is comparatively higher. You can withdraw a minimum of $10 on debit/credit cards or any electronic wallet, but the minimum withdrawal for bank wire transfer is $100. The broker does currently not accept payments in cryptocurrencies or from cryptocurrency wallets. If that is something you are looking for in a broker, then Trader’s Way do accept crypto funding.

LMFX Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
LMFX Funding Options

LMFX Review

Regulation and Safety

Any known regulatory authority does not regulate LMFX, yet it is run by Global Trade Partners Ltd, a company based in Macedonia. 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.

LMFX Regulation Summary

Regulator LMFX
ASIC (Australia)x
IIROC (Canada)x
CySEC (Cyprus)x
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
LMFX Regulators

LMFX Safety

Although the broker has a history of years in the industry, it has failed to get a license from any government regulatory body worldwide. However, they have all the necessary legal documentation available on their website. The lack of regulation does mean that they can offer some trading products and services that a regulated broker cannot. In addition, the broker does not hold a banking license and is not traded on any stock exchange in the world. Moreover, the financial information of the LMFX is not publicly available as well.

LMFX Review

Client Support

Customer support can be reached by email, phone, and live chat 24/5. If the broker could provide 24/7 support like competitors such as Hugo’s Way, that would be great. Although the live chat assistance is quick to reply, it is ineffective. As they answer with links to the website for most of the questions. Email assistance is more useful, and responses might take anywhere from a few hours to a week. When it comes to answering queries, phone assistance is more prompt and helpful. Unfortunately, there is no FAQs section on the website, making finding all the necessary information difficult. I think there is room for improvement in this area overall.

LMFX Review


Overall, LMFX has potential but I feel like they are let down simply due to a lack of regulation which may deter some clients. They do provide a limited selection of financial instruments with CFDs on forex, stocks, metals, and oil among the tradable assets offered. The broker also performs a good job of providing you with various account types to suit your different strategies and offering a nice selection of flexible funding options. You can open an account from as little as $50 to start trading online with easy to use trading platforms for all of your desktop and mobile devices. I found them to have very competitive trading conditions which includes low spreads, fees and reliable execution speeds. Overall, the broker’s service is decent although they could consider adding some more educational resources to help educate beginners and no regulation could be a big concern. That being said, free demo accounts are available if you are curious and want to get a feel for what they have to offer.

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LMFX Review


When was LMFX founded?

LMFX was founded in 2008.

Where is LMFX located?

LMFX is located in Macedonia.

Is LMFX regulated?

LMFX is not a regulated broker.

What trading instruments does LMFX offer?

LMFX offers over 150 financial instruments in various asset classes such as forex, CFDs, commodities, metals, energies, indices and shares.

What is LMFX’s minimum deposit?

LMFX requires a minimum deposit of $50 for its premium account.

What trading platforms does LMFX offer?

LMFX offers MetaTrader 4 on desktop, web, and mobile devices.

What is LMFX’s commission fee?

LMFX charges a $4 commission per standard lot per side on a zero account. For shares CFDs trading, the broker charges a fixed 0.10% commission.

Does LMFX charge an inactivity fee?

LMFX does not charge an inactivity fee.

What are LMFX’s spreads?

LMFX offers variable spreads starting from 0.0 pips.

What funding options does LMFX offer?

LMFX offers various funding methods such as wire transfers, debit/credit cards, and electronic wallets.

Does LMFX offer demo trading?

Yes, LMFX offers demo trading.

Does LMFX offer Islamic accounts?

No, LMFX does not offer Islamic accounts or swap-free accounts.

How do I contact LMFX customer support?

You can contact LMFX’s customer support via live chat, phone, or email 24/5.
LMFX Review
LMFX Review
Minimum Deposit: $50
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