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
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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?

Quote:
$4 commisions it is not so special i think, many brokers offer that rates
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Old Nov 25, 2015, 2:25pm   #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, 9:19am   #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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Old Nov 26, 2015, 9:39am   #9
 
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Quote:
Originally Posted by bigmistake View Post
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?
Hello,

The Phoenix Bonus is a unique type of bonus which LMFX offers to its clients. I will write part of the conditions of the Phoenix Bonus below to make the answer to your question as clear as possible.

Conditions of the Phoenix Bonus:
1. The bonus is applied on the first time deposit (FTD).
2. The FTD is defined as being the first deposit or sum of all deposits prior to one (1) trade being placed into
the account.
Therefore you have the following scenarios;
a) 1st Time Period: Client places funds into account. Client will see that in addition to the physical funds
placed in the trading account they have 15% held pending the Phoenix Bonus criteria being met.
2nd Time period: Client places a trade thereby locking the Phoenix Bonus at the levels set.
b) 1st Time Period: Client places funds into account. Client will see that in addition to the physical funds
placed in the trading account they have 15% held pending the Phoenix Bonus criteria being met.
2nd Time Period: Client places a second deposit without placing a trade. This deposit will also be calculated towards the Phoenix Bonus.
3rd Time period: Client places a trade thereby locking the Phoenix Bonus at the levels set.
3. Subsequent deposits being made after the first trade will not receive or be calculated towards the 'Phoenix
Bonus'.
4. The percentage attributed to the Phoenix Bonus is set at the time of the account opening and funding.

In the event that you lose all your trading capital, the Phoenix Bonus will be placed into your trading account on the next deposit (however small) thereby helping you rise again.

So the answer to your question is yes, but prior to that the bonus terms and conditions must be met.

If you have any other questions feel free to ask us here, or contact our customer support.
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Old Jan 4, 2016, 8:23am   #10
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its nice to see an official rep, this broker has a certain positive vibe about them, lets see how it goes.
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Old Jan 4, 2016, 11:37am   #11
 
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Happy New Year to all forums members! Thanks for the kind words ph_trader. We are doing our best to provide high quality services to our clients.
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Old Jan 11, 2016, 8:24am   #12
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you are most welcome. btw i was wondering will lmfx be offering the mt5 terminal?
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Old Jan 11, 2016, 9:41am   #13
 
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Quote:
Originally Posted by ph_trader View Post
you are most welcome. btw i was wondering will lmfx be offering the mt5 terminal?
Dear ph_trader,

At some point we will surely add Metatrader 5 to the trading platforms offered by our company. It will be officially announced when the time comes.
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Old Jan 27, 2016, 7:07am   #14
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will be looking forward to it, btw the way will the services be offered to US traders as well?
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Old Jan 27, 2016, 12:19pm   #15
 
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Dear ph_trader,

The services of LMFX are available with no limitations to US traders.
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