LMFX is a broker that provides trading services in forex, metals, commodities, stocks, and indices to investors. The LMFX official website is https://lmfx.com/, and the website supports Simplified Chinese, English, Japanese, Spanish, and Portuguese as languages of use. According to a Whois query, the domain name for the company's official website was registered on March 17, 2005, which is over ten years ago.
Company Background:
Information on the LMFX official website states that the company is registered in Macedonia. However, the Macedonia Central Registry website does not contain any registered information related to this company. Furthermore, according to the Whois query, the domain name for the company's official website was registered on March 17, 2005, which is over ten years ago.
Account Registration:
The LMFX official website provides registration links for both real and demo accounts. By clicking on "Open Live Account" or "Open Demo Account" on the website's homepage and filling in the required information such as name, email, phone number, and password, investors can complete the account registration process. However, it's important to note that the registration links provided on the LMFX website may not work directly, and investors may need to contact the company first to complete the registration for both real and demo accounts.
Account Types:
According to information on the LMFX official website, the company offers three types of trading accounts for investors: Premium Account, Fixed Account, and Zero Account. These three different account types have significant differences in terms of spreads, commissions, margin ratios, minimum deposits, maximum number of positions, opening positions, additional margin ratios, and margin call ratios.
Trading Products:
The LMFX official website states that the company provides trading services for forex, metals, commodities, stocks, and indices. Additionally, the website provides specific details about the forex, metals, energy, stocks, and indices trading products, including information about spreads and overnight swaps.
Margin Ratios:
While the LMFX official website indicates that different account types have different maximum margin ratios, it does not provide information on the margin ratios for specific trading products within the forex, metals, commodities, stocks, and indices categories.
Trading Hours:
LMFX not only displays the trading hours for the company on its official website but also provides information about the trading hours for specific trading products, including forex, metals, commodities, stocks, and indices.
Deposits and Withdrawals:
According to the information on the LMFX official website, the company supports various methods for depositing and withdrawing funds, including Visa, MasterCard, Wire Transfer, PayRedeem, Skrill, Fasapay, Neteller, and more, in both US dollars and euros. Furthermore, the LMFX official website clearly displays the processing times and fees associated with deposits and withdrawals.
Trading Software:
The LMFX official website mentions that the company provides MetaTrader 4 (MT4) trading software for investors, including desktop versions for Windows and MacOS and mobile versions for iOS and Android. However, it notes that the Android versions of MT4 and MT5 may have slow download speeds or installation issues in some regions.
Trading Tools:
The LMFX official website states that the company provides trading tools such as a trading calculator and an economic calendar. These tools can help investors understand past and upcoming financial events and assist in simulating trading processes.
Other Services:
LMFX's official website provides services related to world news and trading summaries. These services enable investors to systematically keep track of hot topics in the financial market and gain knowledge related to analysis and trading.
Summary:
LMFX raises some concerns related to potential fraud. While the domain registration date for the LMFX official website is considerably old, and the website provides specific details about trading products, spreads, and trading costs, it does not offer any regulatory information. Additionally, the company's official website indicates registration with financial regulatory institutions in Macedonia, including the National Bank of Macedonia (NBRM), the Financial Police Office of Macedonia, and the Securities and Exchange Commission of Macedonia, but no regulatory information related to the company is found. Based on these factors, there are suspicions of potential fraudulent activity, and investors should exercise caution when considering this company's services. TraderKnows advises you to be vigilant about your financial security and to avoid falling into potential scams.
Summary:
LMFX raises some concerns related to potential fraud. While the domain registration date for the LMFX official website is considerably old, and the website provides specific details about trading products, spreads, and trading costs, it does not offer any regulatory information. Additionally, the company's official website indicates registration with financial regulatory institutions in Macedonia, including the National Bank of Macedonia (NBRM), the Financial Police Office of Macedonia, and the Securities and Exchange Commission of Macedonia, but no regulatory information related to the company is found. Based on these factors, there are suspicions of potential fraudulent activity, and investors should exercise caution when considering this company's services. TraderKnows advises you to be vigilant about your financial security and to avoid falling into potential scams.
