Compare FXTM vs LMFX
What is FXTM? What is LMFX?
FXTM is a global leader in online financial trading and investing, offering CFDs in FX, indices, commodities, and more. FXTM is regulated by several authorities, including CySEC, FCA, FSCA, and CMA. LMFX is an innovative online broker that allows institutions as well as individuals to trade forex, commodities, shares, metals and more. LMFX is not regulated by any official body, but claims to have a high level of fund security.
FXTM vs LMFX Regulation Comparison
FXTM has a clear advantage over LMFX in terms of regulation, as it is licensed by multiple reputable regulators in different jurisdictions. This means that FXTM has to comply with strict rules and standards regarding client protection, financial reporting, and anti-money laundering.
LMFX, on the other hand, does not have any official regulation, which may pose some risks for traders who want to ensure the safety and reliability of their broker.
FXTM vs LMFX Trading Assets Comparison
Both FXTM and LMFX offer a wide range of trading assets, including forex, CFDs, indices, commodities, metals, and stocks. However, FXTM also offers futures and cryptocurrencies, which LMFX does not. Additionally, FXTM has more currency pairs (63 vs 47) and more stocks (120 vs 100) than LMFX. Therefore, FXTM may be more suitable for traders who want to diversify their portfolio and access more markets.
FXTM vs LMFX Trading Fees Comparison
Both FXTM and LMFX have variable spreads, which means that they can change depending on market conditions and liquidity. However, the average spreads of FXTM are generally lower than those of LMFX. For example, the average spread for EUR/USD is 0.9 pips for FXTM and 1.2 pips for LMFX. Moreover, FXTM charges lower commissions than LMFX ($2 vs $4 per lot) for some account types. Therefore, FXTM may be more cost-effective for traders who want to save on trading fees.
FXTM vs LMFX Account Types Comparison
Both FXTM and LMFX offer various account types to suit different trading styles and preferences. FXTM has six account types: Standard Account, Cent Account, Shares Account, ECN Account, ECN Zero Account, and Pro Account. LMFX has three account types: Premium Account, Fixed Account, and Zero Account. The main differences between the account types are the minimum deposit, the maximum leverage, the spread type, and the commission structure.
For example, the minimum deposit for FXTM ranges from $10 to $25,000, while for LMFX it is $50 for all account types. The maximum leverage for FXTM ranges from 1:30 to 1:2000 (depending on the regulator), while for LMFX it is 1:1000 for all account types. The spread type for FXTM can be either fixed or variable (depending on the account type), while for LMFX it is always variable. The commission structure for FXTM varies from zero to $2 per lot (depending on the account type), while for LMFX it varies from zero to $4 per lot (depending on the account type).
FXTM vs LMFX Deposit Options Comparison
Both FXTM and LMFX offer a variety of payment methods for depositing and withdrawing funds. However, FXTM has more options than LMFX in terms of e-wallets and local payment systems. For example, FXTM accepts WebMoney, YooMoney, QIWI, Perfect Money, DIXIPAY, Crypto and Google Pay in addition to Skrill, Neteller and FasaPay that are also accepted by LMFX.
Moreover, FXTM supports UnionPay as a payment method for Chinese clients. Both brokers accept wire transfer and credit/debit cards as well. However, LMFX does not charge any fees on deposits or withdrawals, while FXTM may charge some fees depending on the payment method.
FXTM vs LMFX Trading Platforms Comparison
Both FXTM and LMFX use MetaTrader as their trading platform. However, FXTM offers both MetaTrader 4 and MetaTrader 5 (with some limitations), while LMFX only offers MetaTrader 4. MetaTrader 4 is a popular and user-friendly platform that supports various features such as charting tools, indicators, expert advisors (EAs), automated trading strategies, and one-click trading. MetaTrader 5 is a newer and more advanced version of MetaTrader 4 that has some additional features such as more timeframes, more order types, more technical analysis tools, and a built-in economic calendar.
However, MetaTrader 5 is not compatible with some EAs and custom indicators that are designed for MetaTrader 4. Therefore, traders who want to use the latest technology and access more features may prefer FXTM, while traders who want to stick with the classic and proven platform may prefer LMFX.
FXTM vs LMFX Analytical Tools Comparison
Both FXTM and LMFX provide various analytical tools to help traders with their market analysis and trading decisions. For example, both brokers offer economic calendars, trading calculators, VPS hosting, and daily market analysis.
However, FXTM also offers some unique tools that LMFX does not, such as FXTM Pivot Points Strategy, FXTM Trading Signals, FXTM Market Outlook, FXTM Market Sentiment Indicator, and FXTM Trader App. Therefore, FXTM may be more appealing for traders who want to access more sophisticated and exclusive tools.
FXTM vs LMFX. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better, as different brokers may suit different traders depending on their needs and preferences. However, here are some general suggestions on which broker you should choose based on some common criteria:
- If you value regulation and security of your funds, you should choose FXTM, as it is licensed by multiple reputable regulators and has a high level of client protection. LMFX, on the other hand, does not have any official regulation, which may pose some risks for your trading experience.
- If you value diversity and accessibility of trading assets, you should choose FXTM, as it offers more markets and instruments than LMFX, including futures and cryptocurrencies. FXTM also has more currency pairs and stocks than LMFX, which may give you more opportunities to trade.
- If you value cost-effectiveness and efficiency of trading fees, you should choose FXTM, as it has lower spreads and commissions than LMFX for most account types. FXTM also offers some account types with zero commissions, which may help you save on trading costs.
- If you value flexibility and customization of account types, you should choose FXTM, as it has more account types than LMFX with different features and conditions. FXTM also has lower minimum deposits and higher maximum leverage than LMFX for some account types, which may suit your trading style and budget better.
- If you value convenience and variety of payment methods, you should choose FXTM, as it has more options than LMFX in terms of e-wallets and local payment systems. FXTM also supports UnionPay for Chinese clients, which may be useful for you if you are from China or have a Chinese bank account.
- If you value technology and innovation of trading platforms, you should choose FXTM, as it offers both MetaTrader 4 and MetaTrader 5 (with some limitations), while LMFX only offers MetaTrader 4. MetaTrader 5 is a newer and more advanced version of MetaTrader 4 that has some additional features that may enhance your trading experience.
- If you value sophistication and exclusivity of analytical tools, you should choose FXTM, as it offers some unique tools that LMFX does not, such as FXTM Pivot Points Strategy, FXTM Trading Signals, FXTM Market Outlook, FXTM Market Sentiment Indicator, and FXTM Trader App. These tools may help you with your market analysis and trading decisions.
