LMFX Broker Discussion

[tradeforever 10]

Just noticed this broker on FB, anyone tried it? Please share your experience.

[barako 10]

its a fairly new broker with three trading accounts, premium zero and fixed, actually im tradine a test account on premium, the minimum is 50 dollars. its been reacting quite good, stability is excellent, very active support. will keep updates if anything comes up.

[tradeforever 10]

I also chat with their support for my phone validation, they are very dedicated and enthusiasm. But I am looking for a PAMM broker, do you have experience with their PAMM.

[barako 10]

speaking of lmfx the first couple of months have been good and nothing out of the usual, the execution is still fast, made a 2nd withdrawal processd easily. yes i agree they do have a good support

[barako 10]

does anyone here trade gold as well, any insight on xauusd?

[tradeforever 10]

I don't trade gold but I think you should refer trading insights from trading sections. I want to ask if there is any complete a deposit/withdrawal from this broker? Their demo is really fine, nothing to complain, if the funding process works well, I may consider for a new personal account beside my current broker.

[barako 10]

I guess im a step ahead of you, i have to say its a good broker, spreads are very competitive compared to others, and i have no issue with withdrawals what so ever, on a positive note the broker accepts US traders.

[tradeforever 10]

I just know this broker also accepts US trader. There is not too many rare brokers accept U.S trader nowaday.

[barako 10]

yeah if im not mistaken lmfx is one of 5 EU brokers that accept US traders, and thats a good thing, I mean its already hard as it is to trade us based brokers, thats why many move off shore.

[aimhi 10]

I just know this broker also accepts US trader. There is not too many rare brokers accept U.S trader nowaday.

 

I guess US traders have certain limitations to trade with offshore brokers due to US rules and regulations, so many brokers does not accept traders from US. However if this broker accepts traders from US then that is a good initiative for accommodating US traders too.

[tradeforever 10]

My previous broker is also a popular one but they don't accept US trader.

[barako 10]

yes on a positive note, i think lmfx is only one of 5 brokers in the EU region that accepts US traders, the thing might as well aply to Japan and canada, thats some good news for restricted traders bond by silly laws.

[tradeforever 10]

I rarely see a broker outside American could accept U.S trader. I really want to know how could they do it while many popular brokers marked non-US trader.

[barako 10]

lmfx is only one of a handful of EU brokers that accepts US traders. i think there are a dozen or so world wide. and i hope there would be more.

[tradeforever 10]

I don't know any broker accept US trader so far. And this is such a rare one.

[barako 10]

there are a couple, not so sure how good they are i mean, i dont live in the us but i did see a list of broker that accept us trader somewhere.

[aimhi 10]

I don't know any broker accept US trader so far. And this is such a rare one.

 

I think its due to US regulation as they might not want their traders to invest outside US and should invest within US and pay taxes on the earnings.. Perhaps that may be the only reason or whatever, however doesn't it seems to be good that a broker is facilitating US traders too whereas on the other hand many big giants are not accepting US traders. I guess its a plus point for this broker..!

[tradeforever 10]

Nice point of view! I also talk with many Americans and indeed, the govement want only investment from foreign countries and keep their money stay there forever. They don't want leak their money for poor countries. E.G, to get the green card, you must fulfill many of criterias or invest 500k$ with a proper plan to U.S. with each green card, I thought you need to spend approximate 600k$. Every year, U.S issue 5000 green cards years, so they earn around 2.5 millions + good business for their states.

[barako 10]

we can speculate, but in the end we can never say for sure, usually these are restrictions that are really for the government but sold to people in the name of "its for your own good" i dont like it. but ona positive note its good to have brokers that accepts traders from such regions, in the end as long as we make good money then its good. thats all that matters really.

[aimhi 10]

Nice point of view! I also talk with many Americans and indeed, the govement want only investment from foreign countries and keep their money stay there forever. They don't want leak their money for poor countries. E.G, to get the green card, you must fulfill many of criterias or invest 500k$ with a proper plan to U.S. with each green card, I thought you need to spend approximate 600k$. Every year, U.S issue 5000 green cards years, so they earn around 2.5 millions + good business for their states.

 

Yes that is a myth but let hope for the best and i think if any broker is accepting US brokers too then i guess that broker might be doing great and may worth giving it a try.

[tradeforever 10]

If a broker could accept U.S trader, are there any restricted countries else or it could accept all traders type?

[aimhi 10]

I guess there is no restriction for other countries for using online brokers even traders can trade with online forex brokers where forex business is usually banned by the government.

[tradeforever 10]

If we consider forex is kind of online service, we use, generate profit, and withdraw. How could our goverment prevent us from trading?

 

Actually Forex is prohibited in my country but still there are thousands of traders. I think only the broker could prohibit certain traders.

[barako 10]

ok so the gov is trying to deny forex access yet many still trade, like for example, i get my forex earning through transferring funds from skrill to my local bank account or through ATM withdrawals through the skrill ATM, money coming from skrill is not specified and does appear as remittances which is ok, though im pretty sure forex trading is not prohibited around here. the same goes for others, they still manage to trade and get their earnings through third party money processing companies which will appear as remittances, in some cases in countries where online jobs are popular it might as well be considered online salaries. the gov will have a hard time tracking these transactions, especially in third world countries. china trades global forex even if they are that strict.

[aimhi 10]

If we consider forex is kind of online service, we use, generate profit, and withdraw. How could our goverment prevent us from trading?

 

Actually Forex is prohibited in my country but still there are thousands of traders. I think only the broker could prohibit certain traders.

 

Yes if any one is trading online then i think the government does not have any issues or to do with it but they do devise certain policies to restrict outward remittances as these outward remittance might lowers government foreign exchange reserves in my opinion.