Each course contains a series of easy to follow videos that are followed with some questions to make sure you understood the content. This is another area in which I think they could improve signficantly. It may not matter much to you if you alreayd have lots of expeirnece. However, if you are new to trading online then you can find some more educaitonal content over at TradeDirect365. 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.

This is a drawback for many newcomers because they will have to look for information in other sources. However, there are several calculators that involve the Fibonacci, Pivot Points, Position Size, and other tools. In addition, there is an economic calendar that can include forecasts and actual results. If you need to know more about spreads and fees for these products, they can be found on the broker’s official website. The number of assets is quite big and you could even say that it is much better than with other companies. Yes, LMFX does keep client’s funds in segregated from the company’s operational bank accounts.

LMFX trading platforms and instruments

This can be considered slightly higher than other brokers of a similar level in the sector. As for the account opening process itself, demo accounts are readily available after confirmation of your email address and some basic personal information. This enables you to download and trade freely with a virtual balance up to $100,000 which can be replenished, on the lmfx broker review MT4 platform. Zero account holders must abide by a minimum deposit amount of $100, and $50 for each deposit thereafter. Fixed account holders should deposit a minimum of $250 to get started, and $50 minimum deposit for each subsequent deposit. She says that her experience with LMFX was positive and she has been trading with the broker for more than 2 years.

• If you are looking for an FX trading platform with high trade volume, offering several assets, with low fees but lacks regulation, LMFX may be for you.
• The broker has a limited range of additional services and tools for clients.
• Please read LMFX Reviews below and share live trading experiences with this broker.
• You can get both of these from GO Markets if you are looking for software that can automatically scan the markets for customised trading signals.
• When it comes to online trading with brokers like LMFX,
  carefully review LMFX as your broker can make or break your success.

One of the primary considerations when evaluating a broker, such as LMFX, is to assess the broker’s regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Through the MT4 platform LMFX offers a VPS to run a trading platform remotely 24 hours a day.

LMFX Education and Training

If you are a beginner then you will be pleased with the free educational content provided. There is also the option of a demo account so you can practice trading online without any risk. If you want to get started with a real account then the minimum deposit is just $50 which is relatively low compared to many other brokers. I have had an account with the broker for a few years now and have yet to run into any problems.

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. Overall, strict financial regulation is essential for ensuring that trading platforms like LMFX operate fairly, transparently, and responsibly, which ultimately benefits all LMFX stakeholders involved. Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

Is LMFX regulated?

For manual traders, LMFX has one click trading tool built-in on MT4 platforms. The STP (Straight Through Processing) broker in Europe has been gaining popularity with its competitive trading conditions such as spread, execution, cost, leverage and promotions. Overall, LMFX presents as would be expected for a relatively new broker trying to establish in the highly competitive industry. They provide an offering which is light on official regulation, but also welcomingly so on elements such as deposit and withdrawal fees.

However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders. If you are looking for an FX trading platform with high trade volume, offering several assets, with low fees but lacks regulation, LMFX may be for you. TradingBeasts helps individual traders learn how to trade forex, cryptocurrencies and other assets as CFDs. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey. Premium account holders work with a variable spread, whilst fixed account holders can receive a fixed spread across the board.

Review Methodology

All accounts offer trading in popular currency pairs, precious metals, oil, equity indices, individual stock CFDs, and commodity CFDs. The selection of currency pairs is fairly good as compared with many other offshore-registered forex brokers, with even most of the more exotic currencies available for trading. One nice benefit of being unregulated is that the broker enjoys unmatched flexibility when it comes to the leverage and other trading conditions it can offer its traders. With EU regulations in particular becoming increasingly restrictive, some traders may feel that their opportunities are limited with the traditional onshore, regulated brokers.

Stocks, currency and other commodities and instruments will be brought or sold by LMFX even if no buyer or seller is lined up. LMFX allows Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. LMFX is overseen by the top tier financial regulators Unregulated so can be considered a good broker. Please note that the list of payment methods below depends on the LMFX Entity and the client’s Country of Residence.

I can recommend this broker if you don’t have any special requirements. LMFX also has a fairly good offering when it comes to bonuses and promotions, with a “Phoenix Recovery Bonus” offered as a sort of emergency relief to a trader who has blown his or her trading account. An amount that equals 15% of his or her initial account balance will be saved up and made available to the trader the next time an amount (no matter how small) is deposited into the trading account. First of all, investor protection mechanisms that are normally in place for regulated brokers will not apply to clients of LMFX in the event of insolvency or any type of disputes with the broker. Secondly, most regulated brokers are required to keep clients’ funds in accounts at only top tier banks, segregated from the broker’s own funds.

LMFX is operated by a registered company called Global Trade Partners Ltd and has been in business since at least 2015. LMFX does not appear to be a scam, based on how long it has been trading and balance of reviews. LMFX offer precious metals trading 24/5 with gold and silver prices being quoted in the EUR and USD base currencies. This calculates position size on currency pairs to help manage your risks. The minimum deposit required to open an account with LMFX is $100. Quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.