LMFX broker discussion

This is a discussion on LMFX broker discussion within the Brokerages forums, part of the Commercial category; Hello, I prefer trading on zero spread account but not too many broker offer this account type, google for 30 ...

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Old Oct 12, 2015, 11:30am   #1
Joined Nov 2013
LMFX broker discussion

Hello,

I prefer trading on zero spread account but not too many broker offer this account type, google for 30 mins and just luckily found out LMFX, but I don't have too much online info about this broker so if anyone here have tried this broker, please give your comment.

Thanks,
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Old Oct 12, 2015, 11:43am   #2
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Hi trade2bepro,
I can't answer your question as I know nothing about LMFX. However, in your shoes, I'd be asking myself how any broker that offers zero spreads will make money from my custom? A broker that can't explain this to your complete satisfaction is a broker to be wary of, IMO. The lure of zero spreads is attractive for obvious reasons, but it may mask other (less conspicuous) ways of making money from you. Caveat emptor etc.
Tim.
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Old Oct 13, 2015, 9:57am   #3
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trade2bpro started this thread It's new but rare brokers offer account that follow them the spread could be started from 0 at certain pairs, and I just want to open account for testing. So any feedback is really appreciated.
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Old Oct 13, 2015, 4:58pm   #4
 
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I've not heard of either of those brokers but I do know that many advertise spreads 'as low as zero' but in reality the spreads are never that.
Showing very low spreads is an old marketing trick to lure in new customers but those as low spreads may only be displayed for 1 sec per day, the rest of the time it will be a lot higher.
Best way to check is to open a demo and see the spreads for yourself - make sure to ask if the spread settings on your demo are what you would see for the amount of real money you would put into a live account.
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Old Oct 14, 2015, 9:01am   #5
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trade2bpro started this thread Not only the spread, the commissions per lot are only $4, I have checked other brokers and this com is much acceptable. The trading conditions they offering are pretty good but I need to try on my own. I will probably open a zero account with minimum deposit to see how it goes.
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Old Oct 19, 2015, 4:09pm   #6
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trade2bpro started this thread Do you have a link in Tickmill for what you say?

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$4 commisions it is not so special i think, many brokers offer that rates
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Old Nov 25, 2015, 3:25pm   #7
 
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Dear forum members,

Thank you for your interest in LMFX. I am an official representative of LMFX and I will be happy to answer any questions you may have.
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Old Nov 26, 2015, 10:19am   #8
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I have researched about account and bonus and have a question regarding bonus, can I withdraw the Phoenix bonus right after my second deposit without trading? both the fund + bonus?
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