It’s easy to pick up and at the same time offers all the sophisticated… Switching over to trading platforms, LMFX is a MetaTrader-only broker which relies on the still-trusted MT4 platform, the classic retail trading platform developed by MetaQuotes Software Corporation. The platform is available both in its classic downloadable version, as well as the new web-based version that can run in the Internet browser of any computer. Mobile apps for iPhone, iPad, and Android devices are also available. In addition, the broker offers a “Deposit Match Bonus” which is a 100% credit bonus that essentially increases the leverage a trader has available.
The governing bodies make sure that no broker does fraud activities with any customer. The broker offers only three account types, namely premium, fixed, and zero. All three account fail to provide high-end services and charge more than the industry average. I was impressed with the excellent variety of methods for convenient deposit and withdrawal including bank transfer, card and online payment processors.
The platform is extremely simple, frankly there isn’t too much you can do with it, beyond the basic charting and basic order types – but for the large majority of traders, that is all that’s needed. Due to MT4being accessible on all platforms and so easy to use, this is a great platform for beginners! VPS hosting is available, which supports automated trading solutions.
LMFX Review has two commission-free account types where it earns revenues from above-average mark-ups. The EUR/USD commences from 1.4 pips and 1.9 pips in the floating and fixed accounts, respectively. The commission-based alternative provides clients with access to a minimum spread of 0.2 pips for the EUR/USD and an acceptable commission of $8 per round lot, just above the top range of a competitive one.
The broker platform has been appreciated for providing quality service. However, LMFX is not regulated, which limits the legal protection increasing the overall risk of the traders. Therefore, before creating an account with LMFX, traders are advised to do their own research and analysis. In summary, LMFX is a good forex and CFD broker for both long-term and regular traders looking to trade with fixed and variable spreads.
Additionally, you are allowed to copy up to 100 different traders at one time. Traders who add at least $100 as an initial deposit into their trading accounts are eligible for the Deposit Match Bonus. Indices are a measurement of the price performance of a basket of shares.
This broker commits to provide the full spectrum of cutting-edge trading tools and services, which are needed to support trading activity at the world’s most liquid market. LMFX also provides an unparalleled trading experience that offers the most competitive trading conditions to clients, by allowing them to trade Forex and CFDs on Commodities, Indices, and Shares. LMFX offers users three different account types to choose from, based on the available capital, appetite for risk and overall trading experience investors prefer. It is always advisable that brokers offer different types of accounts to cater to every trader’s needs and level of experience.
This broker is also a market maker and profits directly from client trading losses where it acts as the counter-party. Traders will pay swap rates on leveraged overnight positions, and third-party transaction costs apply. The overall pricing environment is not very competitive but neither is it excessive, placing this broker in the middle of the pack compared to all online brokers. They offer useful tools including trading calculators and a free forex VPS for qualifying clients, whilst their customer support team is approachable and available 24 hours day, 5 days a week.