Compare FxPrimus vs LMFX
What is FxPrimus? What is LMFX?
FxPrimus is a forex broker that was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) of South Africa, and the Vanuatu Financial Services Commission (VFSC). FxPrimus offers over 120 trading instruments, including forex, metals, indices, commodities, energies, and cryptocurrencies.
LMFX is a forex broker that was established in 2015 and is not regulated by any major authority. LMFX offers over 100 trading instruments, including forex, metals, indices, commodities, oils, and shares.
FxPrimus vs LMFX Regulation Comparison
FxPrimus has a higher level of regulation than LMFX, as it is licensed by three reputable regulators in different jurisdictions. This means that FxPrimus has to comply with strict rules and standards regarding client funds protection, financial reporting, and fair trading practices.
LMFX does not have any official regulation, which means that it operates under its own terms and conditions. This may pose some risks for traders, as there is no guarantee that LMFX will follow the best industry practices or protect client funds in case of insolvency or fraud.
FxPrimus vs LMFX Trading Assets Comparison
FxPrimus offers a wider range of trading assets than LMFX, as it includes cryptocurrencies in its portfolio. FxPrimus allows traders to trade 5 major cryptocurrencies against the US dollar, namely Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash.
LMFX does not offer any cryptocurrency trading, which may limit the opportunities for traders who want to diversify their portfolio or take advantage of the volatility of the crypto market.
FxPrimus vs LMFX Trading Fees Comparison
FxPrimus and LMFX have similar trading fees, as they both charge spreads and commissions on some of their account types. The spreads and commissions vary depending on the account type, the trading instrument, and the market conditions.
FxPrimus offers three account types: Variable, ECN Premium, and VIP. The Variable account has no commission but higher spreads, while the ECN Premium and VIP accounts have lower spreads but charge a commission of $10 per lot round turn.
LMFX offers three account types: Premium, Fixed, and Zero. The Premium account has no commission but higher spreads, while the Fixed account has fixed spreads but charges a commission of $0.08 per 1k lot per side. The Zero account has variable spreads but charges a commission of $8 per lot round turn.
FxPrimus vs LMFX Account Types Comparison
FxPrimus and LMFX have similar account types, as they both offer three options for different trading styles and preferences. However, there are some differences in the minimum deposit, leverage, and execution type between them.
FxPrimus requires a minimum deposit of $100 for all its account types, while LMFX requires $50 for the Premium and Fixed accounts and $100 for the Zero account.
FxPrimus offers a maximum leverage of 1:1000 for all its account types, while LMFX offers a maximum leverage of 1:1000 for the Premium and Fixed accounts and 1:250 for the Zero account.
FxPrimus provides market execution for all its account types, which means that orders are executed at the best available price in the market with no requotes or delays. LMFX provides instant execution for the Premium and Fixed accounts, which means that orders are executed at the requested price or rejected if the price changes significantly. LMFX provides market execution for the Zero account.
FxPrimus vs LMFX Deposit Options Comparison
FxPrimus and LMFX have similar deposit and withdrawal options, as they both accept various methods such as credit/debit cards, bank wire transfers, e-wallets, and cryptocurrencies.
FxPrimus does not charge any fees for deposits or withdrawals, except for bank wire transfers which may incur some charges from the banks involved. LMFX does not charge any fees for deposits but charges some fees for withdrawals depending on the method used.
FxPrimus processes deposits and withdrawals within 24 hours on business days, while LMFX processes deposits within 2-15 minutes and withdrawals within 2-15 business days depending on the method used.
FxPrimus vs LMFX Trading Platforms Comparison
FxPrimus and LMFX both use the MetaTrader 4 (MT4) platform as their main trading platform, which is one of the most popular and widely used platforms in the forex industry. MT4 offers a user-friendly interface, advanced charting tools, technical indicators, automated trading, and customizability.
FxPrimus also offers the WebTrader platform, which is a web-based version of MT4 that can be accessed from any browser without downloading or installing any software. WebTrader has the same features and functions as MT4 but with a more simplified design and layout.
LMFX also offers the LMFXconnect platform, which is a mobile app that allows traders to access their account, manage their funds, and contact customer support from their smartphone or tablet. LMFXconnect has a simple and intuitive interface and is compatible with Android and iOS devices.
FxPrimus vs LMFX Analytical Tools Comparison
FxPrimus and LMFX both offer various analytical tools to help traders with their market research, analysis, and decision making. Some of the common tools they provide are economic calendars, news feeds, market analysis, trading signals, and educational resources.
FxPrimus also offers some unique tools such as the PAMM service, which allows traders to copy the trades of experienced fund managers; the VPS service, which allows traders to run their automated trading systems on a remote server; and the Autochartist service, which provides automated technical analysis and trading alerts.
LMFX also offers some unique tools such as the One Click Trading feature, which allows traders to execute trades with a single click; the Trade Analyzer feature, which allows traders to evaluate their trading performance and identify areas for improvement; and the Contests feature, which allows traders to participate in various trading competitions and win prizes.
FxPrimus vs LMFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals, and risk appetite. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. However, here are some possible factors that you may want to consider:
- Regulation: If you value security and reliability, you may prefer FxPrimus over LMFX, as FxPrimus has a higher level of regulation from three reputable authorities. This means that FxPrimus has to follow strict rules and standards that protect your funds and ensure fair trading practices. LMFX, on the other hand, does not have any official regulation, which may expose you to some risks and uncertainties.
- Trading Assets: If you want to diversify your portfolio and trade different markets, you may prefer FxPrimus over LMFX, as FxPrimus offers a wider range of trading assets than LMFX. FxPrimus allows you to trade cryptocurrencies, which are one of the most volatile and profitable markets in the world. LMFX does not offer any cryptocurrency trading, which may limit your opportunities and potential returns.
- Trading Fees: If you want to minimize your trading costs and maximize your profits, you may want to compare the spreads and commissions of both brokers for the account type and trading instrument that suit your needs. FxPrimus and LMFX have similar trading fees, but they may vary depending on the market conditions and the account type you choose. You may want to check their websites for the latest fee information and use a calculator to estimate your trading expenses.
- Account Types: If you have a specific trading style and preference, you may want to choose the account type that matches your requirements and expectations. FxPrimus and LMFX offer three account types each, but they have different minimum deposits, leverage, and execution types. You may want to compare the features and benefits of each account type and see which one fits your budget, risk tolerance, and trading strategy.
- Deposit and Withdrawal Options: If you want to have a smooth and convenient funding and withdrawal process, you may want to choose the broker that offers the most suitable methods for you. FxPrimus and LMFX accept various deposit and withdrawal options, such as credit/debit cards, bank wire transfers, e-wallets, and cryptocurrencies. However, they have different processing times and fees for each method. You may want to check their websites for the details and choose the method that is fast, cheap, and secure for you.
- Trading Platforms: If you want to have a user-friendly and powerful trading platform that offers advanced features and functions, you may want to choose the broker that uses the MetaTrader 4 (MT4) platform. FxPrimus and LMFX both use MT4 as their main trading platform, which is one of the most popular and widely used platforms in the forex industry. MT4 offers a user-friendly interface, advanced charting tools, technical indicators, automated trading, and customizability. You can also access MT4 from any device, such as desktop, web browser, or mobile app.
- Analytical Tools: If you want to have access to various analytical tools that can help you with your market research, analysis, and decision making, you may want to choose the broker that offers the most useful and relevant tools for you. FxPrimus and LMFX both offer various analytical tools, such as economic calendars, news feeds, market analysis, trading signals, and educational resources. However, they also offer some unique tools that may appeal to different traders. For example, FxPrimus offers the PAMM service, which allows you to copy the trades of experienced fund managers; while LMFX offers the Contests feature, which allows you to participate in various trading competitions and win prizes.
Ultimately, the choice of forex broker is up to you. You may want to do your own research and test both brokers with a demo account before making a final decision.
