Compare InstaForex vs LMFX
What is InstaForex? What is LMFX ?
InstaForex is a forex broker that was established in 2007 and is regulated by the FSA of St. Vincent and the Grenadines. It offers trading on various instruments, such as forex, CFDs, indices, commodities, metals, cryptocurrencies and binary options. It also provides various bonuses, promotions, contests and educational materials for its clients.
LMFX is a forex broker that was established in 2015 and is not regulated by any authority. It offers trading on forex, CFDs, indices, commodities, metals and energies. It also provides a PAMM account service, a demo account, a free VPS and a loyalty program for its clients.
InstaForex vs LMFX Regulation Comparison
InstaForex is regulated by the FSA of St. Vincent and the Grenadines, which is a low-tier offshore regulator that does not have much oversight or enforcement power. InstaForex does not have any other licenses from more reputable regulators, such as the FCA, ASIC or CySEC.
LMFX is not regulated by any authority, which means it operates without any supervision or accountability. LMFX does not provide any information about its legal status, ownership or location on its website. This poses a high risk for the clients as they may not have any recourse or protection in case of any disputes or problems with the broker.
InstaForex vs LMFX Trading Assets Comparison
InstaForex offers over 300 trading assets on its platforms, including:
- 107 currency pairs
- 88 CFDs on US stocks
- 23 CFDs on indices
- 18 CFDs on commodities
- 6 CFDs on metals
- 5 CFDs on cryptocurrencies
- Binary options
LMFX offers over 150 trading assets on its platforms, including:
- 47 currency pairs
- 4 CFDs on indices
- 3 CFDs on commodities
- 3 CFDs on metals
- 2 CFDs on energies
InstaForex vs LMFX Trading Fees Comparison
InstaForex has different types of accounts with different trading fees:
| Account Type | Minimum Deposit | Spread | Commission |
|---|---|---|---|
| Standard | $1 | Fixed | None |
| Eurica | $1 | None | Fixed |
| ECN | $1000 | Variable | From $30 |
LMFX has different types of accounts with different trading fees:
| Account Type | Minimum Deposit | Spread | Commission |
|---|---|---|---|
| Premium | $50 | Variable | None |
| Fixed | $250 | Fixed | None |
| Zero | $100 | Variable | $4 |
InstaForex vs LMFX Account Types Comparison
InstaForex has four main account types:
- Standard: This account has a minimum deposit of $1, a fixed spread from 3 pips, no commission, a maximum leverage of 1:1000 and a minimum lot size of 0.0001.
- Eurica: This account has a minimum deposit of $1, no spread, a fixed commission from 0.03% to 0.07%, a maximum leverage of 1:1000 and a minimum lot size of 0.0001.
- ECN: This account has a minimum deposit of $1000, a variable spread from 0.8 pips, a commission from $30 to $120, a maximum leverage of 1:1000 and a minimum lot size of 0.01.
- Islamic: This account is for Muslim traders who follow the Sharia law. It has the same features as the Standard account, except that it does not charge any swaps or overnight fees.
LMFX has three main account types:
- Premium: This account has a minimum deposit of $50, a variable spread from 1 pips, no commission, a maximum leverage of 1:1000 and a minimum lot size of 0.01.
- Fixed: This account has a minimum deposit of $250, a fixed spread from 1.8 pips, no commission, a maximum leverage of 1:400 and a minimum lot size of 0.01.
- Zero: This account has a minimum deposit of $100, a variable spread from 0 pips, a commission of $4 per lot, a maximum leverage of 1:250 and a minimum lot size of 0.01.
InstaForex vs LMFX Deposit Options Comparison
InstaForex offers various deposit and withdrawal options, such as:
- Bank transfer
- Credit/debit cards
- Skrill
- Neteller
- UnionPay
- AliPay
- SOFORT
- Crypto
- Litecoin
- Dash
- Crypto Cash
- AdvCash
- Ripple
- Tether (USDT)
- Dogecoin
- NEO
- AstroPay
- EOS.IO
LMFX offers various deposit and withdrawal options, such as:
- Bank transfer
- Credit/debit cards
- Skrill
- Neteller
- FasaPay
InstaForex vs LMFX Trading Platforms Comparison
InstaForex offers two trading platforms:
- MetaTrader 4: This is the most popular trading platform in the forex industry. It has a user-friendly interface, advanced charting and analysis tools, automated trading capabilities, custom indicators and scripts, and a large online community.
- MetaTrader 5: This is the newer version of MT4 that has some additional features, such as more timeframes, more order types, more indicators, an economic calendar, a depth of market and a built-in market of trading products.
LMFX offers one trading platform:
- MetaTrader 4: This is the same platform as offered by InstaForex.
InstaForex vs LMFX Analytical Tools Comparison
InstaForex offers various analytical tools, such as:
- News feeds from Reuters, FXStreet and Forex Factory
- Economic calendar from FXStreet
- Trading signals from ZuluTrade and Autochartist
- Webinars from InstaForex TV
- Articles from Forex Analytics
- Videos from InstaForex TV
LMFX offers various analytical tools, such as:
- News feeds from LMFX Connect
- Economic calendar from LMFX Connect
- Trading signals from LMFX Connect
- Webinars from LMFX Connect
InstaForex vs LMFX . Which forex broker is better? Which forex broker should you choose?
Choosing the right forex broker depends on your personal preferences, trading goals, risk appetite and budget. InstaForex and LMFX both have strengths and weaknesses in different aspects. You may need to weigh the pros and cons of each broker according to your own criteria and preferences before making your final decision.
