LMFX Broker Review

By: DayFunded

Today we will be reviewing the LMFX broker, a firm managed by Global Trade Partners Ltd., which has been providing its services since 2015. This review aims to provide an in-depth and unbiased insight into the features, benefits, and potential limitations of trading with LMFX. Our primary goal is assisting traders in making an informed decision about selecting a suitable broker for their trading needs. Let's get started.

Overview

LMFX is a highly regulated broker, providing a sustainably safe environment for traders to execute their trading strategies. The broker carries a solid average rating of 8.3, which signifies the level of trust and satisfaction among its users. The minimum account size is reasonably priced at $50, making it affordable for new or budget traders to start their trading journeys without significant economic stress.

Trading Aspects

One of the major advantages of LMFX is its low spread, which means the cost of trading is minimized, very appealing for high-frequency traders. Macro position traders will also appreciate the minimum position size feature that is set at 0.01. This allows traders to manage risk more effectively through position sizing.

Happy news for US traders is that the LMFX caters to their trading needs as well - US traders are fully allowed. So whether you are trading from within the states or internationally, LMFX has got you covered.

The maximum leverage provided by LMFX hasn’t been explicitly stated, but it's crucial that traders understand the potential risk associated with trading with high leverage. This understanding and risk management will help sustain account balance in the long run.

Features

One of the unique benefits of trading with LMFX is the multitude of features it provides. Users can trade via phone, giving them the ability to execute trades even when they can't access their trading platforms.

They offer free educational resources to their traders, which is a great advantage for novice traders aiming to enhance their trading knowledge. Even for experienced traders, continuous learning is what keeps them on top of the game.

Segregated accounts are another feature provided by LMFX. This provides an extra layer of security to customer's funds, as they are kept separate from the company's own operating funds.

Additionally, LMFX regularly hosts trading contests, giving traders a competitive platform to showcase their trading skills and win exciting prizes.

Personal manager and PAMM (Percentage Allocation Management Module) are other notable features of this broker. The PAMM accounts make it possible to manage several accounts simultaneously, a significant advantage for fund managers.

Their offering of bonuses to their clients shows that LMFX not just provides effective trading platforms, but also appreciates and rewards their clients' loyalty and activity.

Conclusion

Overall, LMFX is a comprehensive broker that appears committed to providing quality features, security, and convenience to its traders. It's suitable for both beginners and experienced traders with its low minimum account size and education provisions. US traders, high-frequency traders, and fund managers, in particular, might find it very useful.

As with any broker, ensure that you understand all the terms and conditions before beginning your trading journey with LMFX.

Happy trading!