Compare TradersWay vs LMFX
What is TradersWay? What is LMFX?
TradersWay is an online broker that offers trading services for forex, metals, cryptocurrencies, and CFDs on various platforms such as MetaTrader 4, MetaTrader 5, cTrader, and MT Mobile.
LMFX is an online broker that offers trading services for forex, commodities, shares, metals, and more. It also provides spread betting, social trading, and various educational materials. LMFX uses MetaTrader 4 as its main trading platform.
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$ |
TradersWay vs LMFX Regulation Comparison
TradersWay is not regulated by any official authority or jurisdiction. It operates under the laws of the Commonwealth of Dominica.
LMFX is also not regulated by any official authority or jurisdiction. It operates under the laws of the Republic of Macedonia.
TradersWay vs LMFX Trading Assets Comparison
TradersWay offers over 40 currency pairs, 4 metals, 2 energies, 10 indices, and 7 cryptocurrencies for trading.
LMFX offers over 40 currency pairs, 4 metals, 4 energies, 11 indices, and no cryptocurrencies for trading.
TradersWay vs LMFX Trading Fees Comparison
TradersWay charges variable spreads depending on the account type and the trading platform. The average spread for EUR/USD is 0.5 pips on MT4.ECN., 1.3 pips on MT4.VAR., and 0 pips on cTrader.ECN. accounts. TradersWay also charges a commission of $3 per lot per side on cTrader.ECN. accounts and $2.5 per lot per side on MT4.ECN. accounts.
LMFX charges variable spreads depending on the account type and the trading platform. The average spread for EUR/USD is 0.2 pips on Premium accounts, 1 pips on Fixed accounts, and 0 pips on Zero accounts. LMFX also charges a commission of $8 per lot per round turn on Zero accounts.
TradersWay vs LMFX Account Types Comparison
TradersWay offers four types of accounts: MT4.VAR., MT4.ECN., MT5.ECN., and CT.ECN. The minimum deposit for all accounts is $10. The maximum leverage for all accounts is 1:1000.
LMFX offers three types of accounts: Premium, Fixed, and Zero. The minimum deposit for Premium and Fixed accounts is $50, while for Zero accounts it is $100. The maximum leverage for all accounts is 1:1000.
TradersWay vs LMFX Deposit Options Comparison
TradersWay accepts various deposit and withdrawal methods such as credit cards, bank transfers, Neteller, Skrill, Bitcoin, Litecoin, Ethereum, Ripple, USDTether, and Perfect Money. The processing time and fees vary depending on the method.
LMFX accepts various deposit and withdrawal methods such as credit cards, bank transfers, Neteller, Skrill, FasaPay, VLoad eVoucher, Bitcoin by BitPay, Bitcoin by Skrill/Neteller/FasaPay/VLoad eVoucher. The processing time and fees vary depending on the method.
TradersWay vs LMFX Trading Platforms Comparison
TradersWay offers several trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader (CT), and MT Mobile Apps. MT4 and MT5 are popular and widely used platforms that support multiple charting tools, indicators, expert advisors (EAs), and automated trading. CT is a newer platform that offers direct market access (DMA), level II pricing, one-click trading, and advanced order types. MT Mobile Apps are available for iOS and Android devices that allow traders to access their accounts from anywhere.
LMFX offers only one trading platform: MetaTrader 4 (MT4). MT4 is a popular and widely used platform that supports multiple charting tools, indicators, expert advisors (EAs), and automated trading. LMFX also provides a web terminal that allows traders to access their accounts from any browser without downloading any software. LMFX also offers MT Mobile Apps for iOS and Android devices that allow traders to access their accounts from anywhere.
TradersWay vs LMFX Analytical Tools Comparison
TradersWay provides various analytical tools such as economic calendar, market news feed (FxWire Pro), market sentiment analysis (FxPulse), technical analysis (Autochartist), social trading (Myfxbook AutoTrade), VPS hosting service (ForexVPS.net), and trading calculators.
LMFX provides various analytical tools such as economic calendar, market news feed, market outlook, trading signals (ZuluTrade), social trading (HokoCloud), VPS hosting service, and trading calculators.
TradersWay vs LMFX. 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. 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 consider:
- Regulation: Both TradersWay and LMFX are not regulated by any official authority or jurisdiction. This means that they may not be subject to the same standards and rules as regulated brokers, and that your funds may not be protected in case of insolvency or fraud. If you value security and trustworthiness, you may want to look for a broker that is regulated by a reputable regulator such as the FCA, ASIC, CySEC, or NFA.
- Trading Assets: TradersWay offers more trading assets than LMFX, especially in terms of cryptocurrencies. If you are interested in trading a variety of instruments, including digital currencies, you may prefer TradersWay. However, if you are mainly focused on forex trading, LMFX may offer enough options for you.
- Trading Fees: TradersWay and LMFX have different fee structures depending on the account type and the trading platform. Generally speaking, TradersWay has lower spreads but higher commissions than LMFX. If you trade frequently and in large volumes, you may benefit from lower spreads and save on costs. However, if you trade less often and in smaller amounts, you may prefer lower commissions and fixed spreads.
- Account Types: TradersWay and LMFX offer different account types that cater to different types of traders. TradersWay has four account types: MT4.VAR., MT4.ECN., MT5.ECN., and CT.ECN. LMFX has three account types: Premium, Fixed, and Zero. The main differences are in the minimum deposit, the trading platform, the spread type, and the commission rate. You may choose an account type that suits your budget, your preferred platform, and your risk appetite.
- Deposit and Withdrawal Options: TradersWay and LMFX accept various deposit and withdrawal methods such as credit cards, bank transfers, e-wallets, cryptocurrencies, and e-vouchers. The processing time and fees vary depending on the method. You may choose a broker that offers the most convenient and cost-effective method for you.
- Trading Platforms: TradersWay offers several trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader (CT), and MT Mobile Apps. LMFX offers only one trading platform: MetaTrader 4 (MT4). MT4 is a popular and widely used platform that supports multiple charting tools, indicators, expert advisors (EAs), and automated trading. MT5 is an upgraded version of MT4 that offers more features and functionalities. CT is a newer platform that offers direct market access (DMA), level II pricing, one-click trading, and advanced order types. MT Mobile Apps are available for iOS and Android devices that allow traders to access their accounts from anywhere. You may choose a broker that offers the platform that best fits your trading needs and preferences.
- Analytical Tools: TradersWay and LMFX provide various analytical tools such as economic calendar, market news feed, market sentiment analysis, technical analysis, social trading, VPS hosting service, and trading calculators. These tools can help you stay updated with the market movements, identify trading opportunities, execute trades efficiently, and manage your risks effectively. You may choose a broker that offers the tools that are most useful and relevant for you.
