Forex traders always look for trading with brokers that suit their trading needs and preferences. Exness and LMFX are online forex brokers that offer their trading services to traders and investors. Exness is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions, one tier-2 jurisdictions, and four 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 Exness 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.
Exness vs LMFX: In a Nutshell
Exness
Established in 2008, Exness is a regulated forex and CFD broker. It is regulated by multiple jurisdictions. The broker gives access to trade more than 230 tradable instruments on its MT4 and MT5 Trading platforms. The broker allows copy trading, news trading, and EA Trading. You can start trading with as low as 0.01 lot in Exness. The broker also offers a very tight spread starting from 0.3 pips. The broker is regulated by FCA, CySEC, CMA, CBCS, FSCA, (FSC) in BVI, (FSC) in BVI Mauritius, and FSA in Seychelles. However, Exness does not have ASIC regulation. To learn more, you can read our review on Exness.
Exness Overview
- Founded In: 2008
- Founder: Petr Valov, Igor Lychagov
- Headquarters: Limassol, Cyprus
- Trading Instruments: 200+ Trading Instruments including Forex, CFDs, Cryptocurrencies, Stocks CFDs, Commodity CFDs
- Minimum Deposit: as low as $1 for standard accounts, $200 for Pro, Raw Spread, and Zero accounts.
- Maximum Leverage: 1:Unlimited (condition apply) or 1:2000 for FCS, CFCS, 1:30 for ASIC, CySEC jurisdiction, 1:400 for CMA Jurisdiction
- Regulations: FCA, CySEC, CMA, CBCS, FSCA, (FSC) in BVI, (FSC) in BVI Mauritius, FSA in Seychelles
- Trading platform: MT4, MT5, MetaTrader WebTerminal, MetaTrader Mobile, Exness Trade App, Exness Terminal
- Account Types: Standard, Pro, Raw Spread, Zero
- Payment Options: VISA, MasterCard, AstroPay, Bitcoin, Boleto, CASHU, FasaPay, Local Bank Deposits, Local Bank Transfers, Neosurf, Neteller, Oxxo, PerfectMoney, Skrill, Tether (USDT), WebMoney
- Funding Currencies : AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR,
- 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.
- Founded In: 2015
- Trading Instruments: 100+ trading instruments including Forex, CFDs (Indices, Commodities, Metals, Shares)
- Minimum Deposit: $50
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform: MT4 on desktop, web, mobile
- Bonus: Available
- Account Types: Premium, Fixed, Zero, Micor, Islamic
- Payment Options: Crypto, Credit Card,
- Trading Styles: Scalping, hedging, EA Trading, News trading are allowed.
- Trading Tools:Economic calendar, Free VPS, trading calculators
- US Traders: Accepted
Exness vs : LMFX Features
Exness:
- Trading Instruments: 200+ trading instruments including Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs,
- Maximum leverage: up to Unlimited :1
- Minimum Deposit: $1
- Account Types: Exness offers 5 different types of accounts including Standard, Standard Cent account, Pro, Raw Spread, Zero accounts
- Fees: starting from 0.2 pips for a standard account, 0.3 pips for a standard cent account, 0.1pip for a pro account, up to 3.50 per Lot per one side for a raw spread account, 0.05/lot per side for a zero account,
- PAMM/ MAM: Not Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
LMFX
- Trading Instruments: Forex, CFDs (Indices, Commodities, Metals, Shares) Â
- Maximum leverage: 1000:1
- Minimum Deposit: $5
- Account Types: Four ( Premium, Micro, Fixed, Zero Account)Â
- Trading Fees: Spread starting from 1 pips or commission $4Â
- PAMM/ MAM:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Exness vs LMFX: Pros and Cons
Exness Pros & Cons
- Top tire regulations ( FCA, CySEC, FSC, FSA-S SBCS, FSCA, BVI FSC, and so on.
- The maximum leverage is as high as 1:unlimited or 1:2000
- The minimum deposit is as low as $1 or depends on payment methods
- Free VPS hosting; to qualify, you need to trade for a minimum of 14 days and lifetime deposits of $500;
- Competitive spreads starting from 0.2 pips on standard accounts
- Swap-Free/Islamic Account Provided
- Scalping, EA Trading, and Copy Trading are allowed
- Instant Withdrawal of Money 24/7
- No Passive investment programme ( PAMM, MAM Accounts)
- No Ctrader, Tradingview, zulutrade offered
- US Traders are not accepted
- Only MT4 and MT5 Trading Platforms
- Limited educational resources
LMFX Pros & Cons
- 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.
- 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
Exness vs LMFX: Side-by-Side Comparison
Exness Vs LMFX: Our Scores and Ratings
We rated both brokers, Exness 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.
Exness :
LMFX
Final Verdict :
Both Exness and LMFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Exness is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FSA-S , CBCS , FSC Mauritius, FSCA , CySEC , FCA ,BVI FSC. On the other hand, LMFX is an unregulated offshore forex broker. Exness provides Multiple trading platforms including MT4, MT5. On the other hand, LMFX offers MT4, Webtrader, Mobile Trader.
As Exness 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 Exness, while US traders looking for offshore forex brokers may consider LMFX. Trading with offshore forex brokers is risky and not recommended.
