In this section we will analyze the LMFX broker (also called lmfx.com), is a Forex and CFD broker. Is LMFX really recommended to make an investment? Or is it better not to invest with this company? Is it a safe broker? Is a gotcha? We will help you determine it.
You might be wondering why we review LMFX. It is because we have received some messages from clients asking about the company, and we like to think that our reviews page helps investors, providing key information about the company, we disclose information that every investor should know before leaning or not, for Invest with an investment company.
We carry out this review and assessment, due to the fact that we receive different messages and comments asking about the reliability of the company in question.Are you a representative of this company? Leave a comment responding to customer concerns.
Essential information: Who does it belong to? Where is located? Is it a regulated broker?
The broker mentions being part of: Global Trade Partners Ltd.
As to its location, the broker mentions being based in: Macedonia.
If we analyze the regulation of the broker: they do not mention anything about being a regulated broker, which makes us think that it is an unregulated broker.
Remember that to make a safe investment, the best option (and the safest) are the regulated brokersas they must meet very strict requirements. Instead, when working with a unregulated broker, there is a much higher risk of losing the capital invested, in the event that the company goes bankrupt or is reluctant to return the money as it usually happens.
To learn more about regulations, we invite you to access the following link.
If now we go on to analyze account types offered by LMFX, we note that it offers 3 different types of account / plans: Premium Account, Fixa Account and Zero Account. We leave an image with a little information about each type of account.
Premium account: minimum initial deposit of $ 50, leverage up to 1: 1000, spread of 1 pips, maximum trade size 60 lots, maximum number of open trades 100, mobile trading, fifth decimal place, margin call / stop out: 50% / 20 %.
Fixa account- Minimum initial deposit of $ 250, leverage up to 1: 400, fixed spread, maximum trade size 75 lots, maximum number of open trades 150, mobile trading, fifth decimal place, margin call / stop out: 30% / 15%.
Zero Account: minimum initial deposit of $ 100, leverage up to 1: 250, spread of 0 pips, commission of $ 4 per lot, maximum trade size 100 lots, maximum number of open trades 200, mobile trading, fifth decimal place, margin call / stop out: 30% / 15%.
In the following image you can have more information about the types of account. Click here to see image 1 in full size, Click here to see image 2 in full size y Click here to see image 3 in full size.
Las platforms to operate that LMFX offers are: the MT4 platform.
We will now analyze the different resources and aids for traders that LMFX provides on its website. We believe that the resources and help provided on the website can be a point in favor of the broker.
LMFX provides the following aids or resources to traders or stakeholders: economic calendar, calculators, really not much more than this.
| Other information about LMFX |
Some more information in case you want to contact the company, or see its website for yourself.
Phone number+ 44 2035192105
>>> Assessment on LMFX <<
Ending with this section, in our opinion Do we believe that the LMFX company is reliable? Should you invest your money with the company?
Seeing all this, we recommend taking caution, because: it is an unregulated broker and its base is located in a very unsafe country to invest (Macedonia). We suggest using caution.
⛔ Attention ⛔ : in October 2020 CNMV added LMFX to your list of fraudulent financial companies, for acting without authorization. ⛔ WE SUGGEST EXTREME CAUTION ⛔
We always recommend working only with properly regulated companies, isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest?
You have to understand that one of the few measures that really ensure the clients' money is the regulation of the broker, that is, it is probably the most important thing in any broker; THAT IT HAS A GOOD REGULATION, DO NOT BE FOOLED. Good regulation means that there is an authority to which, in case of misunderstandings or problems, customers can complain.
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, you can also leave a comment on our website with your experience if you are a client of the broker.
We leave a vote open so that traders, clients and users of the broker can vote.