BlackBull Markets vs LMFX | Our Analysis & Comparison 2024

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Forex traders always look for trading with brokers that suit their trading needs and preferences. BlackBull Markets  and LMFX are online forex brokers that offer their trading services to traders and investors. BlackBull Markets  is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions, and one tier-4 jurisdictions. On the other hand, LMFX is an offshore forex broker which is not regulated by any regulatory bodies. 

In this article, we will review and compare the brokerage services offered by BlackBull Markets  and LMFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

BlackBull Markets vs LMFX: In a Nutshell

BlackBull Markets

Founded in 2014 in Auckland, New Zealand by Michael Walker and Selwyn Loekman, BlackBull Markets is a forex and CFD broker that enables the trading of over 26,000 instruments, including forex, CFDs, real stocks, and ETFs. The available platforms are MT4, MT5, TradingView, cTrader, BlackBull Shares, and BlackBull Trade. Social trading is facilitated through BlackBull CopyTrader and ZuluTrade. Trading tools such as free VPS and Autochartist are provided.

Blackbull Markets Overview

Blackbull Markets  Overview
  • Founded In: 2014
  • Founder: Michael Walker and Selwyn Loekman
  • Trading Instruments: 26000+ trading instruments including Forex, Equities, Commodities (Energies, agriculture, and Metals), Futures, Indices
  • Minimum Deposit: between $0 and $20,000 ( $0 for Standard, $2000 for Prime, $20,000 for Institutional Accounts) 
  • Maximum Leverage: upto 1:500
  • Regulations: FMA ,FSA
  • Trading platform: MT4,MT5, Ctrader, Tradingview
  • Trading Tools: Trading Tools: VPS, Zulutrade, Myfxbook,  Calculators,
  • Trading Fees: starting from 0.8 pips spreads for Standard account, 0.1 pips spread+$4 per lot for Price account, Spreads 0.0 + $4 per lot for Institutional Account.  
  • Account Types: Standard, Prime, Institutional
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Cryptocurrency, FasaPay, Neteller, Skrill, UnionPay
  • US Traders: Not Accepted

LMFX

Traders who desire high leverage, multiple payment options, or even fixed spreads should consider trading with LMFX. Founded in 2015, the broker has successfully operated without hitches while growing its client base through the delivery of excellent services. Trading fees are low and there is an account type for every broker. 

BlackBull Markets vs : LMFX Features

BlackBull Markets

  • Trading Instruments: 26000+ trading instruments in 80 markets  including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
  • Maximum leverage: up to 1:500 
  • Minimum Deposit: $0 for standard, $2000 for Prime, $20,000 for Institutional account
  • Account Types: Offers 3 account types including ECN standard, ECN Prime, and ECN institutional. 
  • Fees: starting from 0.8 pips for a standard account, (0.1 pips + $6) per lot for an ECN Prime Account, and (0.0 Pips +$4) for an Institutional account.
  • PAMM/ MAM:  Yes, 
  • Zulutrade: Yes 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

LMFX

  • Trading Instruments: Forex, CFDs (Indices, Commodities, Metals, Shares)  
  • Maximum leverage: 1000:1
  • Minimum Deposit: $5
  • Account Types: Four ( Premium, Micro, Fixed, Zero Account) 
  • Trading Fees: Spread starting from 1 pips or commission $4 
  • PAMM/ MAM:  Not Available
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

BlackBull Markets vs LMFX : Side By Side Comparison

BlackBull Markets
LMFX
Product
Product
BlackBull Markets
LMFX
Founded In
Founded In
2014
2015
Founded By
Founded By
Michael Walker and Selwyn Loekman
Carter Anthony Smith
Headquarters
Headquarters
Auckland, New Zealand
Skopje, North Macedonia
Regulations
Regulations
FMA , FSA
None
Min Deposit
Min Deposit
None
$50
Max Leverage
Max Leverage
1:500
1000:1
Tradable Assets
Tradable Assets
Forex, Equities, Commodities (Energies, agriculture, and Metals), Futures, Indices
Forex, stocks, indices, and commodities.
Fees
Fees
Spread starting from 0.1 pips or commission from $4 to $6
Spread from 1.0 pips
Platforms and Tools
Platforms and Tools
MT4,MT5, Ctrader ,Tradingview
MT4, WebTrader
US Traders
US Traders
Not Allowed
Allowed

BlackBull Markets vs LMFX: Pros and Cons

BlackBull Markets Pros & Cons

Pros
  • Regulated by  FMA, FSPR, FSP, FSA-S
  • Founded in New Zealand and operating globally
  • Professional and Retail Trading options 
  • No Minimum Deposit Requirement ($0) 
  • The Maximum Leverage is as  high as 1:500
  • Allow Scalping, News Trading, EA/Robot Trading 
  • Offers Multiple Trading platforms including MT4, MT5, WebTrader, TradingView
  • Supports multiple third-party copy trading platforms, such as ZuluTrade, Duplitrade, and Myfxbook.
Cons
  • BlackBull lacks additional Tier-1 regulatory licenses outside of New Zealand.
  • $2,000 minimum deposit for Prime Account
  • The Ctrader platform is not offered 
  • Withdrawal fees 
  • Limited Research Tools 
  • Not very diverse range of tradable assets

LMFX Pros & Cons

Pros
  • The maximum leverage is as high as 1:1000.
  • Tight Spread Starting from 0  pips 
  • Free VPS for high-volume traders.
  •  Allow Scalping, News Trading, EA Trading
  • Does not have any FIFO Restrictions 
  • Deposit bonus and other bonuses.
  • Due to the absence of regulatory restrictions, the broker is open to clients worldwide
  • Multiple payment options including crypto and e-wallets.
  • 4 Types of accounts available ( Premium, Micro, Fixed Zero)
  • Traders are supported with trading tools like calculators, economic calendars, etc.
Cons
  • Not Regulated by Any Authority 
  • Crypto CFDs are not available to Trade 
  • No Investor Protection Scheme 
  •  No access to MetaTrader 5. Only MT4 and Webtrader are available. 
  • The minimum deposit for bank wire transfers is $250
  • Managed Accounts and Social Trading (MAM, PAMM Accounts) are not Available

BlackBull Markets Vs LMFX: Our Scores and Ratings

We rated both brokers, BlackBull Markets and LMFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

BlackBull Markets:

9
Just Markets Score
Regulation and Security (40%)9
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)9.5
Trading Education (5%)8

LMFX

3.6
LMFX Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)6.5
Trading (15%)6
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)3

Final Verdict :

Both BlackBull Markets  and LMFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. BlackBull Markets  is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FMA, FSA -S, and FSPR. On the other hand, LMFX is an unregulated offshore forex broker. BlackBull Markets  provides Multiple trading platforms including TradingView, cTrader, MetaTrader 5,MetaTrader 4, MetaTrader Web Trader,BlackBull CopyTrader,BlackBull Shares,BlackBull Trade. On the other hand, LMFX offers MT4, Webtrader, Mobile Trader. 

As BlackBull Markets  is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, LMFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for BlackBull Markets , while US traders looking for offshore forex brokers may consider LMFX. Trading with offshore forex brokers is risky and not recommended.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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