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
- 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
Founded in 2015, LMFX is a forex and CFD broker that provides online trading services globally. It offers around 100 trading instruments through the MetaTrader 4 (MT4) platform. LMFX provides low spreads and fast execution speeds as an ECN/STP broker. The broker offers three account types: Premium, Fixed, and Zero. The broker offers a demo account for practice. The broker provides trading tools, including multiple calculators, an economic calendar, and a blog featuring market news and trading insights.
LMFX runs a monthly demo contest with a total prize pool of $1,750, awarded as live trading funds. It offers a 100% deposit match bonus for deposits of at least $100 and a Phoenix bonus for first-time deposits. The broker provides a free VPS service for traders who meet specific criteria. LMFX operates without regulation from any major financial authority. It accepts clients from various countries, except the USA and Canada.
LMFX Overview
- 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
FXTM vs LMFX: Features
FXTM
- 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
LMFX
- Trading Instruments: Forex, Metals, Oil, Indices, Commodities, Shares
- Trading Platforms: Mt4, Web Trading, Mobile
- Minimum Deposit: $5
- Maximum Leverage: 1:1000
- Trading Fees: Spreads starting from 1 pips. LMFX charges a fixed commission for every lot traded. A lot is equal to 100,000 units of currency. If you have a zero account, the commission is $4 per lot which means $8 for a round lot.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 50 Lots
- Funding Currencies: USD/EUR
- Trading Style Allowed: Almost all trading styles including Scalping, hedging, copy trading, and EA Trading.
- Stop Out Level (retail): 20%
- Margin Call Level: 50%
- Negative balance Protection: Yes
- Investor Protection: No
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes.
- KYC Verification: Required
FXTM vs LMFX: Pros and Cons
FXTM Pros & Cons
- 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
- 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
- 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
FXTM vs LMFX: Side-by-Side Comparison
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 :
LMFX
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.
