Forex traders always look for trading with brokers that suit their trading needs and preferences. JustMarkets and LMFX are online forex brokers that offer their trading services to traders and investors. JustMarkets is a highly regulated and trusted forex broker. It is regulated in one tier-1 jurisdictions, four tier-2 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 JustMarkets 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.
Just Markets vs LMFX: In a Nutshell
Just Markets
Founded in 2012, Just Markets is an online forex broker that offers forex and CFD trading facilities. Regulated by CySEC, FSC (Mauritius), and FSA (Seychelles), Just Markets provides a wide range of trading instruments, including Forex, CFDs, and Cryptocurrencies. The broker allows almost all trading styles, from scalping to EA Trading, Copy Trading, and news trading.
Just Markets offers multiple trading platforms such as MT4, MT5, and a mobile trader platform. For passive investors, Just Markets provides a “copy trading” platform. The broker offers leverage as high as 3000:1. Additionally, with floating spreads starting from 0 pips, Just Markets aims to provide competitive pricing for its clients. To learn more, you can read our review about Just Markets.
JustMarkets Overview
- Founded In: 2012
- Minimum Deposit: $1
- Maximum Leverage: 1:3000
- Regulations: CySEC, FSC- Mauritius, FSA-S, FSCA.
- Trading platform: MT4, MT5
- Account Types: Standard, Raw, Pro
- Payment Options: VISA, MasterCard, Airtm, Binance/Binance Pay, Bitcoin, Bitcoin Cash, Boleto, Dogecoin (DOGE), Ether/Ethereum, FasaPay, Litecoin, Local Bank Transfers, Neteller, PayRetailers, PerfectMoney, PromptPay, Ripple (XRP), Skrill, Tether (USDT)
- 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
Just Markets vs LMFX : Side By Side Comparison
Just Markets vs: LMFX Features
Just Markets
- Trading Instruments: A wide range of trading instruments including forex, commodities, stocks, indices, cryptos
- Maximum leverage: The maximum leverage of Just Markets is 3000:1. However, Leverage may vary from 1:1 to 3000:1 based on tradable assets and jurisdictions.
- Minimum Deposit: The minimum deposit of Justmarkets is $10 for the standard account, and $100 for the Pro and the Accounts
- Account Types: Three ( Standard, Pro, Raw Spread)
- Fees: Spread starts from 0.3 pips for the standard account, 0.1 pips for the pro account, and $3 per lot per side for the Raw Spread account.
- MAM: Not Available
- 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
Just Markets vs LMFX: Pros and Cons
Just Markets Pros & Cons
- Regulated by CySEC, FSC, FSA-S
- The minimum deposit is as low as $1
- Maximum Leverage is 1:3000 (up to 1:30 for retail clients and up to 1:3000 for professional clients on justmarkets.eu )
- All strategies are allowed (Scalping, News trading, EA Trading)
- Negative balance protection;
- Multilingual support 24/7.
- MetaTrader 4/5 Offered
- Spreads from 0 pips
- 170+ trading instruments
- Not regulated by tire regulators like FCA, ASIC
- No passive investment program ( MAM, PAMM Accounts)
- US, UK, or Japan Traders are not accepted
- A small selection of trading instruments;
- Sometimes it takes time to receive a response from technical support;
- 3% withdrawal fees if you do not have any trading activities
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
JustMarkets Vs LMFX: Our Scores and Ratings
We rated both brokers, JustMarkets 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.
JustMarkets:
LMFX
Final Verdict :
Both JustMarkets and LMFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. JustMarkets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including CySEC, FSC, FSA -S, FSCA.On the other hand, LMFX is an unregulated offshore forex broker. JustMarkets provides Multiple trading platforms including MT4, MT5, MetaTrader Webtrader. On the other hand, LMFX offers MT4, Webtrader, Mobile Trader.
As JustMarkets 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 JustMarkets , while US traders looking for offshore forex brokers may consider LMFX. Trading with offshore forex brokers is risky and not recommended.
