Question: How much do I need to trade FX with LMFX? What deposit and withdrawal methods are available?
How much is the required minimum deposit amount to start trading FX with LMFX?
- Required Minimum Deposit Amount by LMFX
- Required Deposit for each account type
- Available Deposit methods for LMFX MT4
- Withdrawal methods from LMFX MT4
Required Minimum Deposit Amount by LMFX
You can trade from 50 USD or the equivalent amount in EUR with LMFX.
LMFX offers up to 1:1000 leverage.
So even if you deposit only 50 USD, so you can consider that you will have 50,000 USD available as a margin for trading in your account.
For example, for the premium account you can deposit 50 USD and start trading with the maximum leverage 1:1000 in your account.
For the list and conditions of all deposit and withdrawal methods for LMFX MT4 accounts, visit the page here.
Required Deposit for each account type
The required deposit amount is different for each account.
Please refer to the below table.
Premium account | Fixed account | Zero account | |
---|---|---|---|
Maximum Leverage | 1:1000 | 1:400 | 1:250 |
Minimum Deposit Required | 50 USD | 250 USD | 100 USD |
Minimum Reload Deposit | 25 USD | 50 USD | 50 USD |
You will be required an equivalent amount for other currencies.
Available Deposit methods for LMFX MT4
There are 5 different deposit methods for LMFX traders.
All deposit methods are charge free from LMFX side but only the charge from payment providers.
1. Credit and Debit Card
Card deposit would be reflected into your account instantly when the operational hours of fund management team in LMFX.
There is no fees charged from LMFX nor the payment provider(normally).
The deposit amount is limited from 50 to 2500 USD per one time.
2. Neteller
Neteller may be the most convenient and popular online payment service in the world now.
You can transfer money all over the world instantly with low-cost.
The commissions would be 1%(up to 10 USD) from Neteller side and the Neteller deposit amount is limited to 50 to 50,000 USD.
The deposit will be reflected into your account instantly 24/7.
3. Skrill
There was an acquisition of Neteller and Skrill in 2015 though, you can still use the Skrill service itself managed by the company of Neteller.
The cost would be same as Neteller, 1%(up to 10 USD) from Skrill side and the Skrill deposit amount is limited to 50 to 10,000 USD.
The deposit will be reflected into your account instantly 24/7.
4. Fasapay
Fasapay is another online payment service which the company is based in Indonesia.
Just like Neteller and Skrill, you can deposit instantly 24/7 and the deposit amount is limited to 50 to 5,000 USD.
There is no fees from LMFX, but Fasapay may charge you 0.5% for each transfer.
5. Bank transfer
Bank transfer is the most standard deposit method for anyone in the world.
Although the deposit method itself may cost and takes more time/days to be processed, but may be the most secured one.
Unless you don’t have a bank account in Macedonia, you will need to do an international transfer in this case.
An international transfer may cost more than 20 USD and takes about 5 days to be processed.
Withdrawal methods from LMFX MT4
You can withdraw your funds in the same method as deposit.
There is no cost from LMFX regarding withdrawal either.
When you request for a withdrawal, LMFX will process it within 48 hours and the fund will arrive to your side accordingly.