LMFX broker discussion

[andrewML]

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.

Hello,
I would like to know how much are clients accounts insured and by which institution? Also, i want to ask if you offer Negative Balance Protection?

 

[LMFX]

Dear andrew_miller6,

Thank you for your interest in LMFX!
Please be advised that LMFX is not regulated, because there is no regulation on the Forex brokers in the country where our company is registered. Although we follow strict policies about KYC and fund segregation which are in compliance with all of the international laws.
Please also be advised that LMFX has set Negative Balance Protection for its clients.
Should you have any further questions please feel free to ask us here or contact our Customer Support! Thank you!

 

[andrewML]

Dear andrew_miller6,

Thank you for your interest in LMFX!
Please be advised that LMFX is not regulated, because there is no regulation on the Forex brokers in the country where our company is registered. Although we follow strict policies about KYC and fund segregation which are in compliance with all of the international laws.
Please also be advised that LMFX has set Negative Balance Protection for its clients.
Should you have any further questions please feel free to ask us here or contact our Customer Support! Thank you!

Not regulated ? :-0 :-0 I couldn't find any information about your company.Your website is down.Where are you located?

 

[LMFX]

Not regulated ? :-0 :-0 I couldn't find any information about your company.Your website is down.Where are you located?

Dear andrew_miller6,

LMFX is registered in Macedonia and the Forex market is still not regulated there which is the reason for the lack of regulation.

As of our website being down I suggest using that link http://www.downforeveryoneorjustme.com/lmfx.com to check, because there might be an issue with your ISP. We have over 140 servers worldwide which keep LMFX up and running 24/7/365.

If you have any other questions, please feel free to contact us at any time.

 

[progix]

I like the crystal ball weekly contest however it seems that i am not very good at predicting.. Is the winning amount from crystal ball contest is instantly withdraw-able?

 

[LMFX]

Dear progix,

Thank you for your interest in our Crystal Ball Contest.
Please be advised that the prize from the contest is tradable, but not withdrawable.
Should you have any further questions please feel free to ask us here or contact our Customer Support!

 

[trade2bpro]

Dear progix,

Thank you for your interest in our Crystal Ball Contest.
Please be advised that the prize from the contest is tradable, but not withdrawable.
Should you have any further questions please feel free to ask us here or contact our Customer Support!

If the bonus is only tradeable, assume it's 1000$ and I make profit of 200$. So can I only withdraw 200$ and leave 1000$ forever?

 

[andrewML]

If the bonus is only tradeable, assume it's 1000$ and I make profit of 200$. So can I only withdraw 200$ and leave 1000$ forever?

Yes .I read their conditions and says that the prizes can be used for trading activities only.

 

[ph_trader]

I think andrew is correct though im not much of a bonus trader, but something tells me thats how it works, and as a reminder just be sure to read the terms of use of bonuses first to avoid any mis understanding.

 

[ph_trader]

on the other hand the phone verification bonus is withdrawable if im not mistaken, i think there is something about a 3 lot traded but thats it..

 

[trade2bpro]

on the other hand the phone verification bonus is withdrawable if im not mistaken, i think there is something about a 3 lot traded but thats it..

3 lots to withdraw 30$, sounds good. Most brokers offering 100% bonus and the required volume = the bonus amount. 100 lot for $100 bonus, very difficult

 

[ph_trader]

yeah its a good deal really, good marketing i would say i mean its acceptable. and the broker so far has been consistent in doing well

 

[trade2bpro]

i've just checked the conditions of Phone Bonus, seems you have to deposit an certain amount and trade fully 3 lots to acquire it.

 

[ph_trader]

of course its not a free bonus, its for existing accounts, ill check with support and clarify

 

[progix]

If the bonus is only tradeable, assume it's 1000$ and I make profit of 200$. So can I only withdraw 200$ and leave 1000$ forever?

I think 1000$ will remain in your trading account and whatever you will earn on it as profit can be withdrawn.. IMO! As i haven't won that prize money as yet but quite hopeful every time as it is a weekly contest.

 

[ph_trader]

there is a certain condition i guess to withdraw the 1000.. a certain number of lots of im not mistaken, then it can be withdrawable. but the good thing is though its bonus, it does provide conditions to be able to earn more, like you can do more with a 1000 account rather than simply trade with 200. and so on..

 

[moka2]

Not regulated ? :-0 :-0 I couldn't find any information about your company.Your website is down.Where are you located?

Not regulated and 1:1000 leverage ... h.....m must be good
Market Maker model also? even better :clap:

 

[ph_trader]

as long as we earn and make money, then its good, as traders thats what we aim for right?

 

[moka2]

as long as we earn and make money, then its good, as traders thats what we aim for right?

NO PH

What god is so called winning if
a) There is a risk that your deposit is at risk because there is no "Client Money Protection"
b) The results can't be independently verified ( just the way you can verify on major exchanges)/ Lack of transparency


When there are better regulated exchange traded products why bother with OTC market maker ( hope you know what I mean by these two terms)

 

[Aiman]

NO PH

What god is so called winning if
a) There is a risk that your deposit is at risk because there is no "Client Money Protection"
b) The results can't be independently verified ( just the way you can verify on major exchanges)/ Lack of transparency


When there are better regulated exchange traded products why bother with OTC market maker ( hope you know what I mean by these two terms)

Look at so called Regulated brokers that have ran away with peoples deposits and nothing has happened..