Compare LMFX vs eToro
What is LMFX? What is eToro?
LMFX is an offshore forex and CFD broker that was established in 2015 and is based in the Republic of North Macedonia. LMFX offers trading on various assets, such as forex, stocks, indices, commodities, metals and oil, with high leverage up to 1:1000 and flexible account options.
eToro is a social trading platform that was founded in 2007 and is regulated by multiple authorities, such as the FCA, CySEC and ASIC. eToro offers trading and investing on a wide range of assets, such as stocks, ETFs, crypto, commodities, currencies and indices, with zero commission on stocks and ETFs and low spreads on other instruments. eToro also allows users to copy the trades of other successful traders or invest in diversified portfolios.
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
LMFX vs eToro Regulation Comparison
LMFX is not regulated by any government agency or financial authority, which lowers its safety and credibility score. LMFX claims to follow the rules and regulations of the European MiFID directive, but this is not verified by any official source.
eToro, on the other hand, is regulated by several reputable regulators in different jurisdictions, such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. eToro also complies with the European MiFID II directive and the US FinCEN regulations. eToro’s regulation status gives it a higher level of trustworthiness and protection for its clients.
LMFX vs eToro Trading Assets Comparison
LMFX offers trading on 48 currency pairs, 36 stocks from the NYSE, NASDAQ and LSE, 13 indices, 4 commodities, 4 metals and 2 oil products. The total number of tradable assets on LMFX is 107.
eToro offers trading and investing on over 2,000 assets, including more than 1,000 stocks from 17 markets, over 250 ETFs from various categories, 16 cryptocurrencies and crypto crosses, 47 currency pairs, 13 commodities, 13 indices and 4 bonds. The total number of tradable assets on eToro is over 2,350.
LMFX vs eToro Trading Fees Comparison
LMFX charges different fees depending on the account type chosen by the trader. There are three account types available: Premium, Fixed and Zero. The Premium account has variable spreads starting from 1 pip and no commission. The Fixed account has fixed spreads starting from 1.8 pips and no commission. The Zero account has variable spreads starting from 0 pips and a commission of $8 per lot round turn. LMFX also charges swap fees for holding positions overnight, as well as an inactivity fee of $25 per month after three months of no trading activity.
eToro does not charge any commission on stocks and ETFs trading, but it does charge variable spreads on other instruments. The spreads vary depending on the market conditions and the asset traded, but they are generally low compared to other brokers. For example, the spread for EUR/USD is 1 pip, for Bitcoin is 0.75% and for Apple is 0.09%. eToro also charges overnight fees for holding leveraged positions or shorting stocks or ETFs, as well as a withdrawal fee of $5 per transaction and an inactivity fee of $10 per month after one year of no trading activity.
LMFX vs eToro Account Types Comparison
LMFX offers three account types to suit different trading styles and preferences: Premium, Fixed and Zero. All account types have a minimum deposit requirement of $50 and a maximum leverage of up to 1:1000 for forex trading. The main difference between the account types is the spread type (variable or fixed) and the commission charged (none or $8 per lot). LMFX also offers a demo account with $100,000 in virtual funds for practice purposes.
eToro offers only one account type for all traders, with a minimum deposit requirement of $200 ($50 for US clients) and a maximum leverage of up to 1:30 for forex trading (higher leverage is available for professional clients). eToro’s account type has zero commission on stocks and ETFs trading and low spreads on other instruments. eToro also offers a demo account with $100,000 in virtual funds for practice purposes.
LMFX vs eToro Deposit Options Comparison
LMFX supports various payment methods for deposits and withdrawals, such as wire transfers, credit/debit cards (Visa/Mastercard), e-wallets (Neteller/Skrill/FasaPay) and VLoad vouchers. There are no deposit or withdrawal fees charged by LMFX, but third-party fees may apply depending on the payment method used. The minimum deposit and withdrawal amounts vary depending on the payment method, but they are generally low ($50 for most methods). The processing time for deposits is instant for most methods, except for wire transfers which can take up to 2-15 business days. The processing time for withdrawals is up to 24 hours for e-wallets and VLoad, and up to 2-15 business days for wire transfers and credit/debit cards.
eToro supports various payment methods for deposits and withdrawals, such as wire transfers, credit/debit cards (Visa/Mastercard), e-wallets (PayPal/Neteller/Skrill) and online banking (Sofort/Rapid Transfer/iDEAL/Giropay). There is a withdrawal fee of $5 charged by eToro, but no deposit fee. The minimum deposit and withdrawal amounts are $200 ($50 for US clients) and $30 respectively. The processing time for deposits is instant for most methods, except for wire transfers which can take up to 4-7 business days. The processing time for withdrawals is up to 2 business days for e-wallets and online banking, and up to 8 business days for wire transfers and credit/debit cards.
LMFX vs eToro Trading Platforms Comparison
LMFX offers the MetaTrader 4 (MT4) platform as its main trading platform, which is available in desktop, web and mobile versions. MT4 is a popular and powerful platform that supports advanced charting, technical analysis, automated trading, custom indicators and expert advisors. LMFX also offers a WebTrader platform that is accessible from any browser without downloading any software. The WebTrader platform has a user-friendly interface and basic trading features, such as market watch, charts, orders and history.
eToro offers its own proprietary platform that is available in web and mobile versions. The eToro platform has a simple and intuitive interface that is suitable for beginners and experienced traders alike. The eToro platform supports social trading features, such as copy trading and copy portfolios, which allow users to follow and copy the trades of other successful traders or invest in diversified portfolios of different assets. The eToro platform also supports basic charting, technical analysis, news feed, alerts and notifications.
LMFX vs eToro Analytical Tools Comparison
LMFX provides various analytical tools to help traders with their trading decisions, such as an economic calendar, market analysis, trading calculators, VPS hosting and Fibonacci calculator. LMFX also offers a range of bonuses, contests and awards to reward its clients for their loyalty and performance.
eToro provides various analytical tools to help traders with their trading decisions, such as an economic calendar, market analysis, news feed, alerts and notifications. eToro also offers a range of social trading features, such as copy trading and copy portfolios, which allow users to learn from other successful traders or invest in diversified portfolios of different assets.
LMFX vs eToro. 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, preferences and goals. However, here are some general guidelines to help you make an informed choice.
- If you are looking for a regulated and trustworthy broker that offers zero commission on stocks and ETFs trading, low spreads on other instruments, social trading features, and a simple and intuitive platform, then eToro might be a better option for you.
- If you are looking for an offshore broker that offers high leverage up to 1:1000, flexible account options, the MetaTrader 4 platform, and various bonuses and contests, then LMFX might be a better option for you.
However, you should also be aware of the potential risks and drawbacks of each broker before making a final decision. For example:
- LMFX is not regulated by any government agency or financial authority, which lowers its safety and credibility score. You might face issues with the security of your funds, the quality of customer service, and the resolution of disputes if you trade with LMFX.
- eToro charges a withdrawal fee of $5 per transaction and an inactivity fee of $10 per month after one year of no trading activity. You might also face higher spreads during volatile market conditions or when trading less liquid instruments if you trade with eToro.
