FXTM vs LMFX Compared in 2024

Published :
Updated :
Written by

Forex traders always look for trading with brokers that suit their trading needs and preferences. FXTM and LMFX are online forex brokers that offer their trading services to traders and investors. FXTM is a highly regulated and trusted forex broker. It is regulated in one tier-1 jurisdictions, one tier-2 jurisdictions, and two 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 FXTM 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.

FXTM vs LMFX: In a Nutshell

FXTM

Founded in 2011, FXTM is a forex and CFD broker that offers online trading services globally. The broker is regulated by multiple regulatory authorities including ASIC, IIROC, FFAJ, MFSA, MAS,  FCA, CFTC, NFA, BVI FSC. The broker has 10000+ trading instruments including forex, CFDs, Stocks, Commodities like gold, silver, and oil, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The broker offers most popular trading platforms like MT4 and MT5. FXTM serves clients from over 150 countries and has over 45 industry awards for excellent services.

FXTM Overview

FXTM Overview
  • Founded In: 2011
  • Founder: Andre Dashin
  • Headquarters: Mauritius
  • Minimum Deposit: $10
  • Maximum Leverage: 1:2000
  • Regulations: FSC (Mauritius)
  • Trading platform:MT4, MT5 and Mobile Trading
  • Account Types: Micro, Advantage, Advantage Plus
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
  • US Traders: Not Accept

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. 

FXTM vs : LMFX Features

  • Trading Instruments:  FX, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5)
  • Maximum leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
  • Minimum Deposit. 100 Euros, US dollars or British pounds 
  • Account Types: Two (Advantage and Advantage Plus
  • Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($35 per million per side) for the Advantage account and 1.5 pips (No commission) for the Advantage plus account.  
  • PAMM/ MAM:  Allowed
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

FXTM vs LMFX: Pros and Cons

FXTM Pros & Cons

Pros
  • FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA) 
  • Minimum deposit is $10
  • The Maximum leverage is as high as 1:2000
  • Ultra-low spreads starting from as low as 0 pips 
  • Offers Copy Trading & MAM Accounts
  • A wide range of trading instruments 
  • Negative balance protection for EU Clients 
  • Over 30 Payment Methods 
Cons
  • Inactivity and withdrawal fees
  • Does not support Myfxbook or ZuluTrader options for social trading
  • No futures or options trading
  • No negative balance protection for Non-EU Clients 
  • Most withdrawal options have a fee
  • Large spread on standard Account 

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

FXTM vs LMFX: Side-by-Side Comparison

FXTM
LMFX
Product
Product
Founded In
Founded In
2011
2015
Founded By
Founded By
Andre Dashin
Carter Anthony Smith
Headquarters
Headquarters
Limassol, Cyprus
Skopje, North Macedonia
Regulations
Regulations
FSC (Mauritius), CySEC, FSCA, FSP, FCA
None
Min Deposit
Min Deposit
$10
$50
Max Leverage
Max Leverage
2000:1
1:1000
Tradable Assets
Tradable Assets
Currencies, Stocks, Indices and Commodities
Forex, stocks, indices, and commodities.
Fees
Fees
Spread from 0.0 pips , 0.4¢ - $2 COMMISSIONS ON FX AND CFDS
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5 and Mobile Trading
MT4
US Traders
US Traders
Not Allowed
Allowed

FXTM Vs LMFX: Our Scores and Ratings

We rated both brokers, FXTM 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.

FXTM :

8.6
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)8
Trading (15%)7.8
Trading tools (10%)7
Customer Support (10%)9
Trading Education (5%)9

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 FXTM and LMFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. FXTM is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FSC (Mauritius), CySEC , FSA-S, FSCA. On the other hand, LMFX is an unregulated offshore forex broker. FXTM provides Multiple trading platforms including MT4, MT5. On the other hand, LMFX offers MT4, Webtrader, Mobile Trader. 

As FXTM 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 FXTM, 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.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

Leave a Comment