- Company name: Global Trade Partners Ltd.
- Registration/license: St Vincent and The Grenadine
- Registration/license requirement: USD 2,000
Is LMFX a regulated forex broker or a scam?
no, LMFX broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
LMFX is an online broker which allows institutions as well as individuals to trade forex, commodities, shares, metals and more. The company is operated by the Global Trade Partners Ltd.
based in Kingstown, Saint Vincent and the Grenadines. They also provide the regulation number, so the broker is registered offshore. The SVGFSA (Financial Services Authority of the St Vincent and the Grenadines) is famous for its low capital requirements – you can open a forex broker, by having only USD 2,000 in capital.
As a comparison the United Kingdom’s Financial Services Commission (FCA), demands a minimum of EUR 125,000 for STP license.
The requirements of the FCA are more strict an make the regulate the most reliable and serious in financial industry. Find the list of FCA regulated brokers here.
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