Forex broker List

  • LMFX


    • Posted: Sep 07, 2017
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    LMFX Broker is a relatively new international online retail broker founded in 2015 and belongs to the group of ‘Fastest-Growing’ forex brokers. They also accept US traders which is not all that common and traders from all regions including USA can take advantages from this broker.

    LMFX.com is one of the ‘Rising Forex brokers’ with almost no negative reviews at all and has lots of choices, both in regards to account types and trading platforms. This broker is a very typical broker and works as a Market Maker with the variable spreads that go with it. LMFX is one of the industry’s top forex brokers that have chosen to stay “Unregulated” with the confidence that this would be the finest way to provide the best deals, promotions and trading conditions to their beloved traders.

    With the belief in mind “Commitment to Excellence” LMFX belongs to the group of major Forex Brokers. They have had very strong growth since they were founded. In my opinion they cater mostly to Discretionary Traders or so called Position Traders, who trade daily or 4H charts. However, if you are a High Frequency Trader or Scalper this broker offers exclusive trading features for you too. No matter which kind of trader you are, this broker is a great broker since they are pretty straight forward, offer good support and training through their dedicated education center. If you are new to the Forex trading market, then LMFX.com can be a good choice since they will help you with the basics until you can stand on your own legs.


    Trading Conditions
    The trading conditions with LMFX.com are typical for a Market Maker although they offer both fixed and variable spreads. LMFX offers a different approach in terms of spreads of the individual products. In order to make this clear and transparent to all traders, they have listed them up in a table so that at a glance you can compare the structure of each.

    If you are a trader with a strategy that explicitly avoids major market events, then a variable spread is better since your profit will be larger (and losses smaller). For a beginner, fixed spreads can be better due to the problem with keeping track of everything that is happening in the markets, and you can also trade with a Zero Spread account if you prefer to skip the strain of ‘spread terms’ and go with fixed commissions on the major and minors.

    The spreads are at 1.2 for the EUR/USD on ‘Premium Spread’, 1.8 on ‘Fixed Spread’ accounts which are fairly competitive. They also claim as low as 0.2 spread on ‘Zero Spread’ account but since this is a new platform that remains to be seen if it really that good. If it is then the LMFX Trade platform might be one of the better choices for a Position Trader.

    What is more important in order to consider this broker as good is quick execution and as we have been able to check it, the execution is great. LMFX is simple and easy to use and if your trading strategy allows, it is the preferred choice for a newbie trader. To make money trading Forex doesn’t mean it has to be complicated, simplicity is usually the better option and then this broker is a good choice.

    Account Types
    With LMFX.com you can choose between three different platforms:
    Premium account
    • Fixed account, and
    • Zero account

    The premium account has been wisely designed to meet the trading requirements of individual forex traders and with the tiniest trade size starting at 0.01 lots, and comes with Competitive Spreads feature. You can open a premium account with as little as a $50 and be allowed to trade with the MetaTrader, WebTrader and Mobile Trading platforms.

    LMFX fixed account is the ideal solution for traders who wish to trade with fixed spread conditions. Since you are aware of the spreads prior to executing an order, this account lets you have better control over your trading and increase trading accuracy when calculating positions. You can open an account to grab these features with a minimum deposit of only $250.

    LMFX zero account is a low-cost trading account that offers NO hikes but comes with super-tight spreads starting from 0.0 pips! With a minimum deposit of $100 only, you can trade on Interbank spreads with this zero spread account and decrease the cost of your trading. This account type is absolutely suitable for the scalper and high frequency trader.


    Trading Platforms
    LMFX offers two different types of trading platforms for its traders. The most popular and worldwide recognized MT4 (MetaTrader 4) which is the industry standard and the LMFX WebTrader, which is a web based trading interface. Personally, I don’t like MT4 and you would understand it if you have tested and traded with as many trading platforms as I have. The amount of learning involved to use MT4 properly is massive, not including learning to program your own EAs (Expert Advisers). LMFX, on the other hand, might not have all the bells and whistles but offers an ultra-modern web based interface that is intuitive to use. If you are a novice trader go with the WebTrader which is easier to learn and spend more time developing your trading strategy and learning it well. That’s the way to make money, not through some fancy program.

    LMFX.com also offers mobile trading platforms for traders to trade the forex market while on the move. The iPhone Trader, iPad Trader, and Android Trader will let you take full advantage of forex market and make money from anywhere with internet access on your device.

    General Impression
    Since this is an ‘Emerging Forex broker’ with many positive reviews in the industry, it is pretty easy to get an impression of this Forex broker. There are minimal negative reviews of this broker, showing the security and customer service of the broker to be of the highest level. The execution is ‘Top Notch’ and there are no other issues with this broker that will decreases your trading experience.

    There are a number of reasons why this broker became so renowned and successful, but perhaps the most significant one is the fact that your trading experience with LMFX broker will be totally safe and astonishing.

    This has been made possible by the company’s cutting-edge Pro platform with a multitude of trading assets and tools, exclusively tailored account packages, secure deposit and withdrawal options, and dedicated account managers.


    Banking – Deposit and Withdrawals
    LMFX is dedicated to the highest level of security when sending out your payments. In addition, deposits can be done through a wide selection of safe and trusted payment methods, in a selection of different currencies. When you request for a withdrawal, funds are simply transferred to your preferred account in the currency of your preference and through the process most suitable to you. This makes the process safe, simple, and quick.

    Wire Transfer:
    • Deposit: minimum deposit amount for wire transfers is 250 USD/EUR and it takes 2-7 working days to get your funds deposited into your account.
    • Withdrawal: minimum withdrawal amount is 100 USD/EUR and through this process, it takes 2-7 working days
    (depending on your bank) to get your funds deposited into your bank account.

    VISA / MasterCard:
    • Deposit: you can make a minimum deposit of 50 USD/EUR using your card to start trading with LMFX. This takes maximum of 30 minutes to be credited to your account.
    • Withdraw: 10 USD/EUR is the minimum required amount to make a withdrawal from your trading account to your card. Depending on your card provider, this will take 2-10 business days to complete the process.

    Skrill / Neteller / FasaPay:
    • Deposit: Deposits are done instantly with this method and the minimum amount required is 50 USD/EUR.
    • Withdraw: Same business day withdrawals are possible using these methods and minimum withdrawal amount is $10 USD/EUR. Withdrawal requests before 10:00 AM server time, are handled on the same business day, otherwise, you’ll have to wait for the next business day.

    On this part, LMFX.com is good. We can neither fault the training provided or the support. Since training is important, emerging brokers like LMFX.com have the resources to create a complete educational library catering to the needs of their clients. Support is also very good and it is easy to get hold of someone for questions. This broker is a very reliable.

    One of the strong points with this broker is the training and support. The training is extensive and is indicative of a well-established broker. There are video tutorials, trading tools, an economic calendar, and an extensive section of market analysis with in-depth market updates. Support is also top-notch and available in many languages with well-educated personnel. You can have your support in many methods that include; contact through web form, call them from your mobile, direct email to CSR, sales or PAMM department and the US Toll Free Line dedicated for traders from USA. We recommend the phone since they don’t put you on hold for long and if you are a trader from USA; you can easily use the toll-free number.

    Final Verdict
    In the conclusion, we believe LMFX to be a great broker, especially in today’s marketplace, with most new brokers trying to scam traders. LMFX’s features speak for themself. If you are new to Forex trading this could be a great broker to start with since they have exceptional training and support. It’s a straightforward broker and although they do offer an ECN alternative, it’s not viable for most aspiring traders.



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  • XM


    • Posted: Sep 06, 2017
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    • Comments: Comments Off on XM

    XM is a popular name in the world of financial trading. The brokerage was founded in 2009 and is a licensed and regulated by many organizations. Since their foundation, they have earned an outstanding reputation among traders and it is still growing day by day.

    XM is known for having a prompt and very professional support desk with 24/5 availability. The brokerage allows traders to join from around the world except from the US. Support agents are available on; live chat, phone calls, emails, plus all top social networks including; Facebook and Twitter.

    XM offers multilingual customer support in; English, Greek, German, French, Spanish, Russian, Italian, Chinese, Japanese, Bahasa Indonesia, Bahasa Malay, Hungarian, Polish, Hindi, Arabic, Korean, Czech, Slovakian, Portuguese, Bulgarian, Romanian and Dutch.

    What makes our experience with XM so unique and appealing is the fact that even if you do not have any experience with trading the forex market and are in need of training, XM is one of the only few serious brokers in the forex industry that offers training to all traders.

    XM is authorized and regulated by the FCA, UK Financial Conduct Authority (registration number 705428). The broker is also regulated and supervised by the CySec, Cyprus Securities and Exchange Commission with CIF License number 120/10 and ASIC, Australian Securities and Investments Commission (license number 443670).

    As being one of the largest and most reliable brokerage houses in the forex industry, XM is registered with the following regulatory bodies:

    • United Kingdom: FCA ( Financial Conduct Authority )
    • Germany: BaFin ( Bundesanstalt für Finanzdienstleistungsaufsicht )
    • Spain: CNMV ( Comisión Nacional del Mercado de Valores )
    • Hungary: MNB ( Magyar Nemzeti Bank )
    • Italy: CONSOB ( Commissione Nazionale per la Società e la Borsa )
    • France: ACP ( Autorité de Contrôle Prudentiel )
    • Finland: FIN ( Finanssivalvonta Finansinspektionen )
    • Poland: KNF ( Komisja Nadzoru Finansowego )
    • Netherlands: AFM ( Autoriteit Financiële Markten )
    • Sweden: FI ( Finansinspektionen )


    The XM Company offers various types of MT4 for both Windows and Mac. The MT4 is also supported on Android and iPhone operating systems; which means the MT4 application will work with both smartphones and Tablet PCs. This is a web-based platform, so you can access it anytime from anywhere. In fact, with a single trading account, you can access 8 platforms in a row.

    The trading platform is designed for both newbie and experienced traders. The simple design ensures that, no one will experience any difficulty while trading.

    Both real and demo accounts, XM traders can trade on as many as 8 different trading platforms that support; market, stop, limit, and trailing orders; simply accessible from 1 account. This accelerates trading processes and offers traders great flexibility to trade from everywhere and at anytime with no difficulty.

    The available trading software is as follows: XM MT4, XM Web Trader, XM MT4 Multiterminal, XM Mac MT4, XM iPhone Trader, XM Droid Trader, XM iPad Trader, and XM MAM Trader.

    XM is offering three different account types;
    • MICRO Account,
    • STANDARD Account, and
    • Zero Account.

    In a MICRO Account, you will be able to trade with many base currencies. In this account, the contract size is: 1 lot equal to 1000; the leverage is 1:1 to 1:888; as Low as 1 Pip spread on all major pairs, and many more features.

    With the STANDARD account, the contract size is: 1 lot is equal to 100000; the leverage is 1:1 to up to 1:888; as Low as 1 Pip spread on all major pairs, 50 lot restriction per ticket and many other features.

    With the Zero account, you can trade Forex market with as low as 0 Pips spreads. However, you’ll be charged a small commission based on your trading conditions. You need to deposit a minimum amount of $100 with this account, the other features remain the same as a standard account.

    The minimum deposit amount for Micro and Standard accounts are both the same and both accounts can be registered with Islamic guidelines as Optional.

    XM Broker Review | Account Features
    • MICRO, STANDARD, and ZERO accounts with exceptional trading conditions
    • Possibility to trade with micro or standard lots
    • Unlimited access to MetaTrader4 and expert advisor trading
    • Free regular intra-day market updates as well as technical analysis
    • Same spreads conditions and execution quality for all account types
    • Multilingual client support and Private Account Manager


    Payment Methods
    XM supports a huge variety of payment methods. For Deposits, they accept various credit cards including; VISA, VISA ELECTRON, MasterCard, Maestro, Union Pay, XM MasterCard and Diners Club International. All of them support instant deposit except Union Pay (24 hrs). For electronic payments, you can use; SKRILL, NETELLER, WEB Money, SOFRONT Banking, PaySafe card and other options. They also support; Bank Wire Transfer, Local Bank Transfer, Western Union and Money Gram.

    To withdraw, you can use all the credit cards mentioned above. For electronic withdrawal, you can use SKRILL, NETELLER, FasaPay and Web Money. They also support bank transfer. However, there are some restrictions on withdrawing money, but they are offering a huge list of methods.

    Research and Education Facility
    XM provides education facilities to their customers. Their research analysis center always sends updates about the market trends, events and reports. With more than 20 professional traders, XM is dedicated to educating their customers and solving their trading problems.

    All of XM’s accounts have access to XM’s educational center that is considered one of the best features being offered today in the forex industry. The learning center offers many different features including Complete Video Tutorials for both Beginner and Experienced Traders alike, Free Webinars, Forex Seminars, and Forex A-Z Courses.

    With their PRO education center, XM regularly offers Forex Webinars, Video tutorials and seminars for their customers. This can help traders reduce their losses and earn maximum profits from trading. On the research zone, you can get the knowledge of Market reviews, Forex News, and Technical Analysis along with updates of currency market. In addition, if you are looking for some tools that can help you maximize your winning possibility, XM provides FX Signals, MQL5, Economic Calendar, and FX Calculators to its valued customers.

    Security and Customer Services
    XM is a regulated company that is licensed by many organizations. XM ensures the highest security with payment processing, while the entire company operates with SSL technology. Deposits and withdrawals are very fast and secure. The customer support at XM is outstanding. They are dedicated to providing quick solutions to their client’s problems. It provides the best opportunity for traders and that is why they are so popular among traders. They are one of the best brokers in the market.

    Traders will receive all of the necessary information and answers about; how to deposit and withdraw, technical problems and solutions or guidance on how to trade the forex market from the broker’s FAQ section. All of the basic information required for writing this review was obtained from the XM FAQ section.


    XM Broker Review | Spreads
    XM offers all traders, without exception, the same tight spreads for all account types and trade sizes, without charging any extra fees or commissions. They know the fact that tight spreads only make sense if traders can trade on them. That is why they attribute such a great importance to their execution quality. The 888:1 leverage offered by XM is totally unique in the industry.

    • Tight spreads as low as 1 pip on all major currency pairs
    • Over 60 financial instruments
    • NO commissions, NO hidden fees
    • The same spreads for all trading account types
    • Best execution policy
    • Fractional pip pricing

    XM Broker Review | Deposit and Withdrawal
    XM is one of the only brokers in the industry to guarantee same day withdrawals. Their withdrawal policy is detailed in their terms and conditions, which states you just need to verify your trading account and you are able to withdraw your funds and profits as often and as much as you like.

    XM doesn’t force its traders to deposit a minimum balance of $500 or more, like other brokers. The minimum deposit amount is $5 for electronic funding, including; credit cards, Moneybookers, Skrill and Neteller.

    You can deposit using Credit Cards and Electronic Payments, including; VISA, MasterCard, Maestro, UnionPay, Neteller, WebMoney, Skrill, Sofort, CashU and FasaPay. The broker also supports Western Union, and Bank Wire Transfers.


    XM, being an established MT4 broker, is known to be reliable and professional. Their helpful and friendly staff assists online currency traders through their trading activity and the team is available 24 hours, 5 days a week.

    As a fully regulated online Forex broker, XM provides a number of features to their traders, including; numerous assets to be traded, fast withdrawals, professional customer support, secured deposits and user-friendly trading platforms. XM’s trading platform is perfect for both; beginners and experienced traders alike.

    On top of this, XM is consistently developing new ways to better its clients’ experience offering a fast and proficient service to all traders.



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