WikiFX

Sagot

LMFX’s fee structure is relatively straightforward but has a few aspects that I find concerning. On the Premium account, there is no commission, but the spread starts from 1 pip. This is relatively low compared to some other brokers that have higher spreads. However, the Zero account offers spreads starting from 0 pips but charges a commission of $4 per lot per side, which could be a better option for traders who prioritize low spreads. I prefer an account type with low spreads and a reasonable commission, so I would likely go for the Zero account. What’s important for me is that LMFX does not charge deposit fees for most payment methods, which is a significant plus as it lowers my overall trading costs. However, the withdrawal process comes with its own set of fees, especially for certain methods like e-wallets and card payments, which can range from 2% to 5%. These withdrawal fees are a major downside for me, especially when compared to brokers that offer free withdrawals. I would consider the total cost of trading with LMFX, including the spreads, commissions, and withdrawal fees, before committing to them as my primary broker.