LMFX is not regulated by any financial regulations though the company itself, Global Trade Partners Ltd is registered in the Republic of Macedonia.
Having regulated by one or two regulatory authorities is an important thing for traders as they can feel more safe to open accounts and deposit.
But as LMFX has got more than excellent trading systems along with segregated accounts for clients and the broker is currently seeking to acquire licenses from other areas, We, Hercules have decided to recommend LMFX to traders.
LMFX has been providing financial services over a few years.
Forex is not regulated
One thing is that Forex is not part of the financial regulation in Macedonia, LMFX is not yet regulated.
Although you may want to be careful with the regulations written in each broker’s website, as many brokers tend to offer financial services to clients with accounts which is regulated by only one of the regulatory authorities they have registered.
Meaning that even if a broker is regulated by many huge authorities in the world, the broker could just offer accounts which is under different minor regulation.
The regulation categories are always specified in the contract when you open an account. so please make sure that you read them all before opening accounts with any brokers.
Regulation = Safe?
A broker being regulated by a financial regulatory authority is one thing that may reassure clients especially in terms of fund management.
There are more than 100 of regulations in the world, each of them is differently managed.
Being regulated by an authority does not mean that
- The broker does not work on a fraud
- There cannot be profit cancellation when withdraw
- No price manipulation to give advantages to the broker itself
LMFX is not regulated yet, but there is no such negative reviews by users til now, and that is one of the reason we have decided start introducing this broker.
All the funds deposited by clients will be placed into a segregated account of LMFX.
This means that LMFX does not use your free margin to invest or use it for its business. The money you deposit is always yours even when you deposit into LMFX’s bank accounts.
In case of bankruptcy of LMFX or Banks itself, all the clients’ funds in the accounts will be returned to these clients, as LMFX is diversifying any risks not at the organizational level but at the country level.
If you require for more details of this fund management, please contact LMFX customer support.
Systems of LMFX
LMFX has invested a lot of money into the development of the system.
Because of this, LMFX is able to provide PAMM system to any Money Managers and Investors and variety of bonuses as the system of LMFX manage them all brilliantly.
Also the website itself and the client portal are organized perfectly to maximize its efficiency.
Just for the record, we Hercules have never seen a broker which has got this much well programmed website and system before, but only LMFX.
Risk Free Demo Trading Account
LMFX offers MT4 as its trading platform.
You can use the platform with Windows PC, Android & iOS(iPad, iPhone) devices or the Web Version.
You are always welcome to start practicing by using the MT4 Demo account. It is free of charge, risk-free and the same trading conditions.
LMFX even offers DEMO trading contest where you can earn real money by trading virtually.
Trading Demo with LMFX means, you can learn for free and earn for free.