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LMFX
Unregulated
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LMFX

United Kingdom
2005-03-18
2
2.45
Rating Index
Software
7.71
Licensed
0
Risk Control
2.5
Experience
7.89
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT4

Basic Information

  • Registered Region
    United Kingdom
  • Operation Status
    Abnormal
  • Operating Period
    2005-03-18
  • Deposit Methods
    Bank Transfer, Credit Card, Skrill, Neteller
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    Forex, indices, commodities, metals, energy, shares
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Premium
  • Trading Platforms
    MT4
  • Withdraw Methods
    Bank Transfer, Credit Card, Crypto, E-wallets (Skrill, Neteller)
  • Auto Trading
    EA supported

Pros and Cons

Pros: Low minimum deposit of $5; diverse range of tradable assets; multiple account types; popular MT4 platform; competitive spreads. Cons: Unregulated; limited educational resources; no MT5 platform available.

Company Background

Founded in 2005 and registered in the UK, LMFX is operated by Global Trade Partners Ltd. Although it has been in service for several years, it operates without regulation, raising concerns regarding oversight and compliance standards. The broker focuses on providing a user-friendly trading experience, particularly through its MT4 platform.

Fund Security

LMFX does not provide comprehensive security measures typically associated with regulated brokers. There are no details on client fund protection, compensation schemes, or industry-standard asset segregation practices. As such, traders should be cautious regarding fund security given the unregulated status of LMFX.

Account Opening

LMFX provides four account types: Premium (min deposit $5), Micro (min deposit not disclosed), Fixed (min deposit $25), and Zero (min deposit $15). The accounts are designed to cater to various trading styles, with considerations for Islamic traders. The account opening process is straightforward but may include verification steps typical of financial services.

Trading Fees

Trading fees vary by account type; Premium accounts have spreads from 1 pip, while Zero accounts offer spreads from 0 pips but incur a commission of $4 per lot per side. Thus, traders may incur costs totaling $8 for a round-turn trade on the Zero account.

Trading Instruments

LMFX offers a wide selection of trading instruments: Forex, indices, commodities, metals, energy, and shares. Specific asset classes available enhance traders' options but exclude cryptocurrencies, bonds, options, and ETFs.

Trading Technology

The broker utilizes the well-known MT4 trading platform, renowned for its reliability and comprehensive feature set, such as automated trading capabilities and extensive charting tools. However, advanced traders seeking MT5 functionalities may find this lacking.

Research and Education

Educational resources appear limited, with no substantive materials like webinars or advanced tutorials. The broker's focus seems to be more on trading capabilities rather than offering substantial market analysis or research tools.

Customer Support

LMFX offers customer support through email and phone with limited availability. While the support response appears timely based on user reviews, the lack of a dedicated live chat feature raises concerns regarding accessibility.
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Rating Instructions
Rating Index
LMFX
LMFX
Unregulated
Legal Environment
7.71
License Value
0
Risk Management
2.5
Investor Protection
7.89
Regulatory Policy
0
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

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  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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