Compare FxGlory vs LMFX
What is FxGlory? What is LMFX?
FxGlory is an online forex broker that was founded in 2011 and is regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. It offers trading on various instruments, such as forex, commodities, shares, metals and more. It claims to be the first and only broker in the world with the leverage of 1:3000.
LMFX is an online forex broker that was established in 2015 and is not regulated by any authority. It offers trading on over 250 financial instruments, including forex, metals, oil, indices and shares. It provides a variety of tools, education materials, contests and bonuses to meet traders’ needs.
FxGlory vs LMFX Regulation Comparison
FxGlory is regulated by the FSA of Saint Vincent and the Grenadines, which is a low-tier offshore regulator that does not have strict rules or supervision for forex brokers. This means that FxGlory does not have to comply with high standards of security, transparency and customer protection that are required by more reputable regulators, such as the FCA or ASIC.
LMFX is not regulated by any authority, which means that it operates without any oversight or accountability from any official body. This poses a high risk for traders who deposit their funds with LMFX, as they have no guarantee of safety, fairness or compensation in case of any issues or disputes with the broker.
FxGlory vs LMFX Trading Assets Comparison
FxGlory offers trading on 34 currency pairs, 4 metals, 2 energies and 10 shares. It does not offer trading on indices or cryptocurrencies.
LMFX offers trading on 48 currency pairs, 4 metals, 2 energies, 11 indices and 14 shares. It also offers trading on 5 cryptocurrencies, namely Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.
FxGlory vs LMFX Trading Fees Comparison
FxGlory charges fixed spreads on its trading instruments, which range from 2 pips to 14 pips depending on the account type and the instrument. It does not charge any commissions or hidden fees on its trades.
LMFX charges variable spreads on its trading instruments, which start from 0.2 pips to 3 pips depending on the account type and the market conditions. It also charges commissions of $8 per lot on its Zero account type.
FxGlory vs LMFX Account Types Comparison
FxGlory offers three types of accounts: Standard, Premium and VIP. The minimum deposit for each account type is $1, $1,000 and $5,000 respectively. The maximum leverage for each account type is 1:3000, 1:2000 and 1:1000 respectively. The minimum lot size for each account type is 0.01 lot.
LMFX offers three types of accounts: Premium, Fixed and Zero. The minimum deposit for each account type is $50 for all of them. The maximum leverage for each account type is 1:1000 for all of them. The minimum lot size for each account type is 0.01 lot for Premium and Fixed accounts and 0.1 lot for Zero account.
FxGlory vs LMFX Deposit Options Comparison
FxGlory offers a variety of methods to deposit and withdraw funds, such as credit/debit cards, bank wire transfer, Skrill, Neteller, Perfect Money, WebMoney, Payza and Bitcoin. It does not charge any fees on deposits or withdrawals.
LMFX offers a limited number of methods to deposit and withdraw funds, such as credit/debit cards, bank wire transfer, Skrill, Neteller and fasapay. It does not charge any fees on deposits or withdrawals either.
FxGlory vs LMFX Trading Platforms Comparison
FxGlory provides its clients with the MetaTrader 4 (MT4) platform as its main trading platform. It also offers a web-based platform that allows traders to access their accounts from any browser without downloading any software.
LMFX also provides its clients with the MT4 platform as its main trading platform. It does not offer any web-based platform or any other alternative platforms.
FxGlory vs LMFX Analytical Tools Comparison
FxGlory does not offer any analytical tools or features to its clients, such as economic calendar, trading signals, market analysis or educational materials. It only provides a swap calculator and a margin calculator on its website.
LMFX offers a variety of tools and features to its clients, such as economic calendar, trading calculators, VPS hosting, daily market analysis and educational materials. It also provides trading signals through its partnership with Trading Central.
FxGlory vs LMFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, goals, preferences and risk appetite. However, here are some general guidelines to help you make an informed choice.
- If you are looking for a regulated broker that offers high leverage, fixed spreads, no commissions and a variety of deposit and withdrawal methods, then FxGlory might be a better option for you. However, you should be aware of the risks involved in trading with an offshore broker that does not have strong supervision or protection for its clients.
- If you are looking for a broker that offers more trading instruments, including cryptocurrencies, variable spreads, low commissions, VPS hosting, trading signals and educational materials, then LMFX might be a better option for you. However, you should be aware of the risks involved in trading with an unregulated broker that operates without any oversight or accountability from any authority.
Ultimately, the best forex broker for you is the one that meets your needs and expectations. You should always do your own research and due diligence before opening an account with any broker. You should also test their services and platforms with a demo account or a small deposit before committing to a larger investment.
