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LMFX Broker Discussion

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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.

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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

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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.

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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.

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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.

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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.

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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.

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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..!

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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    • I traded alot today. 9 trades, 8 losers and BEs, 1 runner that paid for them all. Gotta keep swinging! totaled 240 bps before commission. The first winner on W, I did not count - it was a mistake that led to profit. I felt like a machine, kept pulling the trigger, watch the 1min chart, see it doesn't go anywhere, take my small loss... over and over... then one takes off... Let it run... the whole time I was thinking I hope that the one winner will pay for all the losers. I was tempted to close out the winner early. I had no idea that the payoff distribution for this strategy would be so extreme - 8 tiny losses before hitting a big win. Pays to keep the losses tiny and keep swinging. 
    • Date : 22nd February 2019.

      MACRO EVENTS & NEWS OF 22nd February 2019.



      FX News Today Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively. Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red. News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%. US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel. USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark. Japanese CPI data same as forecasts, pushing the Yen higher. Charts of the Day


      Main Macro Events Today EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January. Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November. Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree. Support and Resistance
       
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      Please note that times displayed based on local time zone and are from time of writing this report.

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      Dr Nektarios Michail
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      HotForex

      Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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    • I forgot to post yesterday. I was down 72 bps.  
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