Compare LMFX vs Orbex
What is LMFX? What is Orbex?
LMFX is an online broker that allows institutions and individuals to trade forex, commodities, shares, metals and more. LMFX claims to offer a worldwide reputable broker service with no commissions or hidden fees.
Orbex is another online broker that provides forex and CFD trading on various assets, such as currencies, metals, energies, indices and stocks. Orbex boasts of competitive trading conditions, ultra-fast execution, award-winning research and top tier security.
LMFX vs Orbex Regulation Comparison
LMFX is not regulated by any official authority, which may raise some concerns about its credibility and safety. However, LMFX states that it follows strict policies and procedures to ensure a high level of fund security and customer satisfaction.
Orbex is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Commission (FSC) of Mauritius. Orbex also complies with the Markets in Financial Instruments Directive (MiFID) and the Investor Compensation Fund (ICF) schemes.
LMFX vs Orbex Trading Assets Comparison
LMFX offers over 250 financial instruments to trade on, including 47 currency pairs, 8 commodities, 4 metals, 14 indices and 81 stocks.
Orbex provides access to more than 200 trading instruments, such as 36 currency pairs, 5 commodities, 2 metals, 14 indices and 150 stocks.
LMFX vs Orbex Trading Fees Comparison
LMFX charges variable spreads starting from 0.2 pips on EUR/USD, plus a commission of $1 per side on its Zero account. LMFX also offers two other account types with no commission but higher spreads: Premium (from 1 pip) and Fixed (from 1.8 pips).
Orbex offers zero spread account with a commission of $1 per side on EUR/USD, plus two other account types with no commission but variable spreads: Standard (from 1.5 pips) and Premium (from 0.8 pips). Orbex also has a swap-free Islamic account option for all account types.
LMFX vs Orbex Account Types Comparison
LMFX has three main account types: Premium, Fixed and Zero. The minimum deposit for each account is $50, $250 and $100 respectively. The maximum leverage for all accounts is 1:1000. LMFX also offers a demo account and a PAMM account for money managers.
Orbex has four main account types: Standard, Premium, Zero Spread and Islamic. The minimum deposit for each account is $200, $5000, $500 and $200 respectively. The maximum leverage for all accounts is 1:500. Orbex also offers a demo account and a copy trading service.
LMFX vs Orbex Deposit Options Comparison
LMFX accepts various payment methods for depositing and withdrawing funds, such as credit/debit cards, wire transfer, Skrill, Neteller, FasaPay and VLoad. LMFX does not charge any fees on deposits or withdrawals.
Orbex supports several payment options for funding and withdrawing from your account, such as credit/debit cards, wire transfer, Skrill, Neteller, WebMoney and FasaPay. Orbex does not charge any fees on deposits or withdrawals.
LMFX vs Orbex Trading Platforms Comparison
LMFX uses the MetaTrader 4 (MT4) platform as its main trading platform. MT4 is a popular and user-friendly platform that offers various features and tools for traders of all levels. MT4 is available on desktop (Windows and Mac OS), web and mobile (Android and iOS).
Orbex also uses the MT4 platform as its primary trading platform. In addition, Orbex offers the MetaTrader 5 (MT5) platform, which is an upgraded version of MT4 with more advanced functionalities and capabilities. MT5 is available on desktop (Windows and Mac OS), web and mobile (Android and iOS).
LMFX vs Orbex Analytical Tools Comparison
LMFX provides several analytical tools for its clients, such as economic calendar, trading calculators, VPS hosting and daily market analysis. LMFX also has a partnership program for affiliates and introducing brokers.
Orbex offers a range of analytical tools for its clients as well, such as economic calendar, trading calculators, VPS hosting and daily market analysis. Moreover, Orbex gives access to the Trading Central research portal, which is a comprehensive suite of market-scanning tools and indicators. Orbex also has a partnership program for affiliates and introducing brokers.
LMFX vs Orbex. 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 points to consider when comparing LMFX and Orbex.
- Regulation: Orbex has a clear advantage over LMFX in terms of regulation, as Orbex is regulated by two reputable authorities (CySEC and FSC) and follows the MiFID and ICF schemes. LMFX is not regulated by any official body, which may pose some risks for your funds and data security.
- Trading Assets: LMFX and Orbex offer a similar range of trading instruments, with LMFX having slightly more options (250 vs 200). However, the difference may not be significant if you are only interested in trading the major currency pairs or the most popular assets.
- Trading Fees: LMFX and Orbex have comparable trading fees, with both brokers offering zero spread accounts with a commission of $1 per side on EUR/USD. The other account types have variable spreads that depend on the market conditions and the account size. You may want to check the live spreads on both brokers’ websites to see which one suits your trading strategy better.
- Account Types: LMFX and Orbex have different minimum deposit requirements for their account types, with LMFX having lower thresholds ($50, $250 and $100) than Orbex ($200, $5000, $500 and $200). Both brokers offer swap-free Islamic accounts for Muslim traders. LMFX also has a PAMM account option for money managers, while Orbex has a copy trading service for social traders.
- Deposit and Withdrawal Options: LMFX and Orbex support various payment methods for depositing and withdrawing funds, such as credit/debit cards, wire transfer, Skrill, Neteller, FasaPay and VLoad. Both brokers do not charge any fees on deposits or withdrawals, which is a plus point for both of them.
- Trading Platforms: LMFX and Orbex use the MetaTrader 4 (MT4) platform as their main trading platform, which is a widely used and reliable platform that offers many features and tools for traders. Orbex also offers the MetaTrader 5 (MT5) platform, which is an upgraded version of MT4 with more advanced functionalities and capabilities. You may want to try both platforms on demo accounts to see which one you prefer.
- Analytical Tools: LMFX and Orbex provide several analytical tools for their clients, such as economic calendar, trading calculators, VPS hosting and daily market analysis. Orbex also gives access to the Trading Central research portal, which is a comprehensive suite of market-scanning tools and indicators. Both brokers also have partnership programs for affiliates and introducing brokers.
