LMFX Review, Forex Broker & Trading Markets
LMFX has always been at the top of my list as the best FX broker out there. Being in the USA I appreciate their kind and friendly service but especially their high-leverage account. I’ve been a customer of LMFX for about 7 years so I know of which I speak. LMFX Review is a good broker that has high leverage, a multitude of assets you can trade, and access to the well-known MT4 platform.
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. As such, traders will either have to accept a sub-standard trading platform or invest their own capital to gain a competitive edge. The limited asset selection and above-average trading costs at LMFX do not warrant an upgrade, but traders can use any MT4 plug-in at all MT4 brokers. ECN accounts are available to trade over 45 currency pairs, as well as precious metals, stocks and stock indexes and commodities as CFDs.
This broker offers the popular MT4 platform, but it is not regulated and its entity is located in a politically unstable jurisdiction. LMFX lists GTP Global Solutions Ltd as a payment services provider which is based in St. Vincent and the Grenadines. I’ve been using them for 3 months and their customer service is great.
The Phoenix and Deposit Match are two of the bonus offerings available. Messaging services like LMFX messages, MT4 desktop messages, and MQL5 notifications are available. Access to the toolbox window to view full trading history, customizable price charts, recent news, etc. However, the broker also claims that they follow the general trading laws and regulations of The Republic of Macedonia, where it is located.
Similarly, there is also another white tab, “Open Demo Account” for users who wish to try the demo account version first before trading with real money. LMFX’s customer support is available via phone, email, or by filling in the short contact form on their website. They claim to be a multilingual broker, but do not specify which languages specifically they have in customer support. As the name suggests, the LMFX WebTrader is a web-based trading platform, so it requires no downloads or installations. The firm provides no learning material or content to the clients for their knowledge enhancement. It can come as a massive obstacle for the beginners as they are in the most need of the education section.
They are prompt and efficient with their responses using the live online chat feature. I have always managed to get answers to my questions in a timely manner. LMFX indices provides a diversified point of access to various countries individual stock exchanges.
