Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

tradeforever

LMFX Broker Discussion

Recommended Posts

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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..!

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.