LMFX Review

LMFX provide clients with the easy to use MetaTrader 4 platform to trade a wide variety of Forex and CFD trading instruments with low spreads, rapid execution speeds and no commission fees. They offer flexible account types, various funding options, powerful trading tools and around the clock support.

Pros / Cons
  • Easy to use trading platforms
  • Commission free trading
  • Good variety of trading instruments
  • Low spreads & rapid execution speeds
  • Fixed & variable spread accounts
  • Range of convenient deposit/withdrawal methods
  • No deposit/withdrawal fees
  • Trading calculators & other useful tools
  • Free VPS
  • 24/5 customer support
  • Not regulated
  • No MetaTrader 5 platform
  • No Islamic swap-free accounts

In this detailed LMFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

LMFX Overview

LMFX is an online broker providing trading services for retail and institutional clients across the globe. They offer trading instruments in various markets including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs.

LMFX Key Features

LMFX Key Features

LMFX have a range of useful trading calculators for clients to use and offer the MetaTrader 4 (MT4) platforms for desktop, web and mobile trading. They also have a selection of educational video courses in the LMFX Education Centre to help clients increase their trading knowledge.

LMFX Overview

LMFX Overview

LMFX aim to deliver fast execution speeds and deep liquidity. There are multiple convenient methods of funding and flexible leverage of up to 1:1000 is available. The friendly multilingual support team is on hand 24/5 to answer general or technical questions.

LMFX Regulation

LMFX is not regulated by any government agencies but it is operated by Global Trade Partners Ltd, registered in the Republic of Macedonia.

LMFX state that they hold client funds in several pooled accounts across different organisations and countries, separate from the company accounts. They state that in the event LMFX go into liquidation, all client funds held in these segregated accounts will be returned to clients minus any costs for the administration and distribution of these funds.

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LMFX Countries

According to their live chat support, LMFX accept clients from all over the world except for some countries. Some LMFX broker features and products mentioned within this LMFX review may not be available to traders from specific countries due to legal restrictions.

LMFX Platforms

LMFX have the popular MetaTrader 4 (MT4) trading platform that was developed by the Russian MetaQuotes Software Corporation and is provided in multiple languages. MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

LMFX Platforms

LMFX Platforms

MT4 Platform

The MT4 platform has an intuitive user interface with a wide range of features making it the preferred platform of choice for many new and experienced traders.

In MT4 you can view trading instruments real price quotes from the market watch window and load charts in 9 time frames. There is over 50+ technical indicators built in for analysing charts and the ability to create/add custom indicators to the platform. Multiple order types are supported and you can set alerts based on specific events via pop-up, email and SMS.

There is an economic calendar to stay up to date with the latest market news and automated trading is possible through expert advisors (EAs). These can be coded within the MetaEditor interface in the MQL4 programming language and tested in the MT4 strategy tester over historical data.

LMFX MT4 Platform

LMFX MT4 Platform

MT4 Web Platform

The MT4 web platform offers the same functionality as the desktop version with the benefit of not needing to download and install any additional software. It runs directly in most modern web browsers.

LMFX MT4 Web Platform

LMFX MT4 Web Platform

MT4 Mobile Platform

The MT4 mobile platform is available for use on both Android and iOS. This platform is useful for those who trade on the go and need to access their trading account from anywhere in the world where there is an internet connection. The app contains most of the same features as the other platforms including placing/managing/closing positions and chart analysis. Push notifications can also be set.

LMFX MT4 Mobile Platform

LMFX MT4 Mobile Platform

LMFX Trading Tools

LMFX have a selection of calculators that can be used for planning trades and a free VPS for eligible clients. There is also an economic calendar to keep up to date with the latest market news releases.

Fibonacci Calculator

You enter the high and low to quickly calculate four basic Fibonacci support and resistance retracement values at 23.8%, 38.2%, 50% and 61.8%.

LMFX Fibonacci Calculator

LMFX Fibonacci Calculator

Pivot Points Calculator

Enter the high, low, close and current open price to calculate Floor, Woodie’s, Camarilla and DeMark’s pivot points and to predict potential support and resistance levels.

LMFX Pivot Points Calculator

LMFX Pivot Points Calculator

Position Size Calculator

This calculates position size on currency pairs to help manage your risks.

LMFX Position Size Calculator

LMFX Position Size Calculator

Pip Value Calculator

This calculates pip value depending on account currency, currency pair and position size.

LMFX Pip Value Calculator

LMFX Pip Value Calculator

Risk & Reward Calculator

This calculator can help to calculate a position’s targets and the respective risk to reward ratios based on the Fibonacci retracements from the top and bottom.

LMFX Risk & Reward Calculator

LMFX Risk & Reward Calculator

Risk Percentage Calculator

This calculator helps to determine your lot size based on your account currency, currency pair, account balance and the percentage that you are willing to risk, open price, and stop loss price.

LMFX Risk Percentage Calculator

LMFX Risk Percentage Calculator

Multitarget Calculator

This calculator helps with planning what levels a portion of positions can be closed at to try and get the best risk to reward ratio from a trade that is possible.

LMFX Multitarget Calculator

LMFX Multitarget Calculator

Economic Calendar

The economic calendar can be used as part of a fundamental analysis. It displays economic events, the currency affected and the level of expected impact. Users can view the previous, forecast and actual results of events on the calendar.

LMFX Economic Calendar

LMFX Economic Calendar

Virtual Private Server (VPS)

A VPS allows you to remotely run your trading platform 24/7 without needing your own computer switched on. This is useful for those who wish to keep an automated expert advisor running or those who do not have a reliable internet connection.

The VPS comes with the LMFX MT4 trading platform already installed so that you can start trading instantly. It costs $20 per month or is free to clients who deposit into an LMFX trading account with at least $5,000.

LMFX Virtual Private Server (VPS)

LMFX Virtual Private Server (VPS)

LMFX Education

LMFX have some video tutorials available on their website. There is a beginners trading course and a MetaTrader 4 platform course. Each course contains a series of easy to follow videos that are followed with some questions to make sure you understood the content.

LMFX Video Tutorials

LMFX Video Tutorials

LMFX Instruments

LMFX offer a range of trading instruments in multiple markets including Forex, Indices, Commodities, Shares, Metals & Oil.

Forex Trading

The foreign exchange (forex) market is a global decentralised or over-the-counter market for the trading of currencies. is the largest in terms of volume. The forex market is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors.

LMFX offer trading on major, minor and exotic FX currency pairs with variable or fixed spreads and competitive commissions.

Indices Trading

LMFX indices provides a diversified point of access to various countries individual stock exchanges. Rather than trading one single stock, indices allow you to trade in a basket of stocks including the U.K.’s FTSE or the German DAX.

As you can with the LMFX single stock CFDs, you are able to trade the price of the underlying asset without actually owning it for a competitive commission fee.

Commodities Trading

Through LMFX you can trade commodities including softs; wheat, sugar, coffee, corn and metals; palladium, copper and platinum. LMFX contract for differences (CFDs) on commodities allows traders to speculate on the fluctuating prices of the commodity without needing to physically own it.

Metals & Oil Trading

LMFX offer precious metals trading 24/5 with gold and silver prices being quoted in the EUR and USD base currencies. Oil spreads are competitive and both are again traded as CFDs.

Shares Trading

LMFX also offer single stock CFDs on global stock markets including the NYSE, NASDAQ, LSE. Clients can buy and sell stocks CFDs of large companies such as Amazon, Google and Facebook with leverage and competitive commissions.

LMFX Accounts & Fees

LMFX have a range of flexible account types to suit different trader needs. There is the premium, fixed and zero accounts to choose from. The main differences between them is in the spreads and commissions. All accounts come with you very own personal account manager. Demo accounts are available to test the different trading platforms and conditions before opening a real account.

As broker fees can vary and change, there may be additional fees that are not listed in this LMFX review. It is imperative to ensure that you check and understand all of the latest information before you open a LMFX broker account for online trading.

Premium Account

The premium account requires a minimum deposit of $50 with variable spreads starting from 1 pip and no commission charged. The minimum lot size is 0.01 and maximum total trade size 60. Leverage of up to 1:1000 is available on this account type.

Zero Account

The zero account is the LMFX low cost trading account with no mark ups and raw interbank spreads. It requires a minimum deposit of $100 with variable spreads starting from 0 pips and commission starting from $4 per standard lot. The minimum lot size is 0.01 and maximum total trade size 100. Leverage of up to 1:250 is available on this account type. This account type is geared towards scalping and high-volume trading.

Fixed Account

The fixed account requires a minimum deposit of $250 and has fixed spreads from 1.8 pips (USDJPY) with no commission charged. The minimum lot size is 0.01 and maximum total trade size 75. Leverage of up to 1:400 is available on this account type. The fixed account can be useful for Expert Advisors (EAs) that operate with fixed spreads.

LMFX Customer Service

LMFX offer multilingual customer support 24/5 via online chat, telephone and email. They are prompt and efficient with their responses using the live online chat feature.

LMFX Deposit & Withdrawal

LMFX offer a variety of methods for convenient deposit and withdrawal including bank transfer, card and online payment processors. You can fund and withdraw from your account within the client area using a payment option of your choice.

The method that you choose to use may depend on how long it takes to process. If you want something quick then you may consider an online payment processor such as Skrill or Neteller. Withdrawals submitted before 10:00 AM server time are processed on the same business day.

Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods such as card payments can be instant. Please note that some methods may only be available to specific countries.

Accounts can be opened in EUR & USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

LMFX Deposit & Withdrawal

LMFX Deposit & Withdrawal

LMFX Account Opening

Opening an LMFX account is a quick and easy process. You simply complete the short online registration form and verify your email address. You then need to upload proof of identification such as a passport and proof of address such as a utility bill no older than 3 months. Once the accounts team have verified your account, you can add funds and being trading.

LMFX Account Opening

LMFX Account Opening

It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.


What is the LMFX minimum deposit?

The LMFX minimum deposit is $50 or the equivalent amount in your base currency. In order to start trading online with LMFX, you will need to at least transfer the minimum deposit amount into your trading account. This is normal practice for any broker as it covers the cost for them to setup the account and ensures that traders will be encouraged to make use of it.

The LMFX minimum deposit is very low when compared to brokers who require a deposit of $500 or even into the thousands to open a trading account. A smaller deposit amount enables you to try out the brokers platforms and trading environment with minimal risk to see if they are suitable for your individual trading needs. Once you feel confident enough, you may then consider a larger deposit.

How do I deposit money into LMFX?

LMFX provide a variety of simple and convenient methods for depositing funds into your trading account. You can choose between bank wire transfer, credit/debit card or e-Wallets such as Neteller and Skrill. The minimum deposit via bank transfer is $250 whereas all other methods have a $50 minimum.

Simply login to your LMFX client account, choose your preferred deposit method and desired amount, then submit. The time taken for funds to appear in your trading account will depend on the method being used. Bank transfers may take 2-15 working days, credit/debit cards up to 30 minutes, e-Wallet payment can be instantaneous.

What are the LMFX deposit fees?

LMFX do not charge any deposit fees. Keep in mind that your bank/card processor or e-Wallet provider may charge you a fee. If you are making a deposit in a currency different to that of your account base currency, there may be a conversion fee involved.

How do I withdraw money from LMFX?

You can withdraw funds from your LMFX account using the same methods as you can to make a deposit. This includes bank wire transfer, credit/debit card and e-Wallets. The minimum withdrawal amount via bank transfer is $100 whereas all other methods have a $10 minimum.

To make a withdrawal, you can login to your LMFX client account, choose your preferred withdrawal method and desired amount, then submit. The time taken for funds to be returned will depend on the method being used. Bank transfers and credit/debit card withdrawals may take 2-15 working days, e-Wallet payment can be received on the same business day.

What are the LMFX withdrawal fees?

LMFX do not charge any withdrawal fees. However, you may want to check with your bank/card processor or e-Wallet provider to see if they have any applicable fees.

What is the LMFX commission fee?

LMFX have accounts with and without a commission fee. The premium and fixed accounts have the commission included within the spread via a spread mark-up. The zero account has the lowest spreads (from 0 pips) with a small commission fee of $4 per side or $8 per round turn. This is a very reasonable charge compared to the many brokers that we have reviewed who do charge a commission.

Are there any LMFX inactivity fees?

No, unlike many other brokers, LMFX do not charge an inactivity fee if you do not access or use your account for a sustained period of time. This means that you won’t get any nasty surprises in terms of dormant account fees when logging back into your account.

What are the LMFX account types?

There are 3 LMFX account types to choose from, the premium, fixed and zero account. Each LMFX trading account offers a different approach in terms of spreads, minimum deposit, leverage and the individual products offered.

  • Premium account: Minimum deposit $50, variable spreads from 1, no commission fee, 1:1000 leverage
  • Fixed account: Minimum deposit $250, fixed spreads from 1.8, no commission fee, 1:400 leverage
  • Zero account: Minimum deposit $100, variable spreads from 0, $4 commission fee per side ($8 per round trip), 1:250 leverage

The account type that you choose is likely to depend on your trading strategy and investment size. Those of you who are using scalping strategies and trading more frequently, may need the tight spreads on the zero account.

However, those who are swing trading and holding positions for days, weeks or even months, may not be too concerned about the spreads and would rather save on the commission.

Is there an LMFX demo account?

Yes, anyone can open an LMFX demo account completely free of charge. Demo accounts provide a great way to get an introduction into the online trading markets and allow you to experience – as closely as possible – the actual market conditions you will experience when trading live.

You get unlimited demo account usage on any LMFX platform of your choice. This wat you can familiarise yourself which each platform and practice trading until you build the skills, knowledge and confidence to trade with real money.

For those of you that already have some experience with online trading, the demo account lets you test your strategies and experience the LMFX trading platform with zero cost.

New clients must first register with the broker in order to open a demo trading account whilst existing clients may login to their LMFX account and open the demo trading account directly from there.

It is important to keep in mind that trading on a demo account does not involve the same emotions such as fear, anger and greed, all of which can have an impact when trading for real.

What are the LMFX spreads?

The spread is the difference between a broker’s sell rate and buy rate when exchanging or trading currencies. Spreads can be narrower or wider, depending on the currency involved, the time of day a trade is initiated, and economic conditions.

As the spread is a fee you pay to place trades on a broker, you can save more in trading costs with lower spreads. All of the LMFX accounts have low spreads, especially the Zero Account which has spreads starting from just 0 pips. The Premium Account offers you the traditional variable spread from 1 pip whereas the Fixed Spread account predefines the spread from 1.8 pips.

What is the LMFX leverage?

The LMFX leverage varies depending on the account type that you choose and trading instrument. The highest leverage is 1:1000 on the Premium Account. The fixed spread account has 1:400 leverage whereas the Zero Account has 1:250 leverage respectively.

Essentially, leverage enables you to trade a larger position size than you would be able to without it. Whilst this may seem appealing at first, not only does leverage increase the potential profit of a trade, it also significantly increases the risk. Therefore, it is of the upmost importance that you have a clear understanding of leverage before trading with leveraged positions.

For example, if you have $1,000 and 1:400 leverage, you can leverage your trading position up to 400 times or more. So, if you used the maximum leverage in this example, you would be exposing yourself to managing a position of $400,000 in the market.

What are the LMFX margin & stop-out levels?

The margin call is 50% for the Premium account, and 30% for the Fixed and Zero account. A margin call notification is sent to you through the trading platform (MT4) when the margin level % is low in your account.

The margin level is the amount of equity a trader needs to maintain in order to keep a position open. Should your equity fall below the maintenance margin amount, LMFX will make a Margin Call and close any/all open positions.

LMFX has set the Stop Out % to 20% for Premium account, and 15% for Fixed and Zero account. A stop out is an action of liquidation to avoid further losses in your account. The stop out triggers automatically by the system and will close all open positions.

It is your responsibility to monitor your open position(s) at all times and ensure that you have sufficient funds on your account or take a decision to close any or all of your open position(s).

Do LMFX allow hedging, scalping & expert advisors?

Yes, LMFX allow hedging and scalping strategies along with automated trading via the use of expert advisors (EAs). Arbitrage trading is not allowed. LMFX has the right to cancel profits if the broker confirms that a trader has abused its trading platform and earned profited without risking his own funds.

Is there an LMFX Islamic account?

Unfortunately, LMFX do not offer Islamic accounts that are swap-free at this time.

What are the LMFX trading instruments?

LMFX have hundreds of trading instruments to choose from, ensuring there is something for everyone to trade. Markets offered include CFDs on Forex, Indices, Commodities, Shares, Metals & Oil.

How do I open a LMFX live account?

It is quick and easy to open a live LMFX account. Simply click on the “Open live account” button on the brokers website and complete the short application form. You can then confirm your registration via a link in an email the broker will send you. From there you can login to the LMFXconnect where you can download the LMFX platform, make deposit/withdrawals and manage your accounts.

How do I verify my LMFX account?

To comply with anti-money laundering (AML) rules, new clients will need to verify their identity and proof of address. This is a normal part of a brokers know your customer (KYC) procedures. Documents that you can upload to verify your account include a passport, driver’s license, utility bill and bank statement no more than 3 months old.

What is the LMFX trading platform?

Each LMFX account type gives you full access to the user-friendly MetaTrader 4 (MT4) trading platform which is used by millions of Forex & CFD traders all over the globe. The platform has an abundance of features to ensure an enjoyable trading experience for traders of all experience levels. This includes multiple chart types and timeframes, technical indicators for in-depth market analysis, various order types and automated trading via expert advisors (EAs). The MT4 platform is available for desktop, web and as a mobile app.

Where can I download the LMFX platform?

You can download the LMFX MetaTrader 4 platform for free directly from the brokers website or from the relevant app store on your mobile devices. The LMFX web platform can be launched directly from the brokers website without needing to download or install any additional software.

Where is LMFX located?

LMFX is owned/operated by Global Trade Partners Ltd, a company incorporated and governed by the laws of the Republic of Macedonia. They have registered head offices in Macedonia and their support services are located from offices in Bulgaria.

Is LMFX regulated?

No, LMFX is not currently regulated. Whilst this means that they can offer things that some regulated brokers cannot such as higher leverage, it does also mean that you do not have the same protection should something go wrong. Traders should be aware of the risks when using any broker.

What countries do LMFX accept?

Whilst the broker accepts clients from all over the globe, LMFX services are not directed toward soliciting citizens or residents of any jurisdiction that would be contrary to local law or regulation.

Is LMFX a scam?

No, we do not believe that LMFX is a scam. They offer competitive trading conditions to suit the needs of different traders around the globe and have been in business since 2015.

How can I contact LMFX support?

You can contact LMFX support team via email, telephone or live chat. They offer 24/5 customer support and we found them to be very quick to respond to the various questions that we asked them.

LMFX Summary

LMFX have a very good range of trading instruments across multiple markets and flexible account types for different trading styles. They provide user-friendly trading platforms with low spreads, no commission and rapid trade execution speeds. Clients also get access to a range of convenient payment options, trading tools and 24/5 customer support.

Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience.


Min $50 Deposit

LMFX have a wide selection of instruments for trading Forex & CFDs. They offer flexible account types & competitive trading conditions for traders of all levels.