LCM broker

LCM FX is a forex and CFD broker. This review details their service, including account types, the trading app, the demo account and of course the trading platform, including MT5. We also list any current bonus offers and key comparison data such as min deposit and min trade amounts.

Trading Platform

LCM FX offers a range of trading platforms. Desktop or laptop users can choose from Metatrader 5. These are the go-to platforms for trading, with an excellent reputation.

Metatrader 5 is available for download use on laptops or desktops and easy to navigate and include shortcuts which make opening and/or closing trades fast and straight-forward.

Products

Instruments offered will vary based on country of residence of the Trader.

LCM FX offers opportunities to trade in the following markets:

• Forex (over 25 forex currency pairs)

• CFDs for Indices and Commodities (FTSE, DAX, Nasdaq etc)

• Spot metals (Gold, Silver)

• Shares CFDs (Apple, BP, Google etc)

Spreads & Commission

Commission percentages are relatively low for Forex traders and around the industry average for CFD trades. With ECN account options, spreads can be as low as 0.1 points. With the Standard Account, spreads start a little higher, but remain very competitive.

In this respect, LCM FX is a good provider to trade with.

Fees

The company does introduce a number of additional charges that, if they are applied, can make them an expensive choice. For example, there is an inactivity fee, which means that if your account isnt used for a period of time, a charge is levied.

Payment Methods

FXTM offers multiple deposits and withdrawals methods, all geared towards inclusive trading.

Deposits

Deposits can be completed through the following methods:

• Visa

• Mastercard

• Neteller

• Skrill

Some deposit methods have a two-hour processing time, while others are instant. All deposit methods are commission-free.

Withdrawals

Withdrawals are available using the following methods:Help 2 pay, Betapay, Paytrust

Similarly, Skrill withdrawals attract no commission and are processed the same working day

Leverage

Leverage rates vary depending on the trade being considered.

For the majority of the major Forex pairs, leverage is set at 1:500.

Commodities: leverage of 1:100.

Leverage of 1:50 is offered on CFD US shares.

Deals And Promotions

Several bonuses and promotions are available. These include, among others, the 50% Bonus and 100% Bonus and the another program.

Education

One of the areas in which LCM FX is extremely strong is the amount and calibre of the educational material that is available. Resources include webinars, tutorials, articles and a glossary of terms. Topics covered include:

• Ebooks

• Forex trading seminars

• Forex trading webinars

• Forex glossary

• What is Forex？

• Beginners guide to Forex trading

• Forex trading strategies

• Educational videos

• Articles

The materials are well-written and easy to follow. The variety of formats mean that there is something suitable for learners with different styles.

In addition, the customer support team are also available to answer trading queries, providing additional support for traders. Particularly when new traders take advantage of the demo account to try out their techniques and strategies before trading live, there is the potential to obtain a good, solid grounding in how trading operates and how best to take advantage of the market.

Regulation And Licensing

As indicated earlier, the LCM FX brand is regulated FCA (the financial regulatory body for the UK) and the FSC (the regulatory body in Mauritius).

LCM FX has to demonstrate a high level of financial accountability and fair, transparent and honest trading

Account Types

LCM FX offers the following accounts:

• Standard Account

• Zero Account

• VIP Account

• Fixed Account

Benefits

• LCM FX is well-known for having excellent customer care, providing a prompt, helpful and accessible service.

• They are tightly regulated, enabling traders to deposit with confidence.

• The selection of educational tools available is exceptionally good.

• Many commentators feel that their Forex fees are highly competitive.