LMFX is very transparent about their
funding methods. They also have quite a few methods for their clients so
that they can choose anyone that they see fit.
Today, I’m going to talk about these funding sources.
Wire Transfer
Wire Transfer, also known as Credit
Transfer or Bank Transfer is one of the easiest ways to add funds to
your LMFX trading account.
This is a popular method for electronic
funds transfer. Wire transfers are usually used for sending funds from
one person or entity to another person or entity. This transaction can
be made from one account to another account or even a cash transfer from
a cash office.
Although it is a secure method of adding
funds to your LMFX trading account, it can take up to 15 days to reach
your account. However, most transactions are completed between 2-3 days.
Still, it is way too long than other funding methods that LMFX offers.
Another drawback to this funding method
is its minimum limit for each transaction. You cannot add funds less
than 250 USD or the equivalent EUR. The minimum amount for each
transaction is 250 USD however, there is no fee for the deposit, whether
it is 250 or 2,500 USD.
Visa Card
Visa Inc. or Visa is an American
Multi-National Financial Services Corporation that facilitates transfers
of electronic funds. My bet is you’ll find a Visa powered debit card,
credit card or gift card in your wallet.
LMFX allows you to add funds through Visa
enabled cards. This is secure and much faster than wire transfers. It
doesn’t take days to reach, only minutes. Visa fund transfers usually
get transferred to your LMFX trading account within 30 minutes.
Besides, minimum limit for each
transaction is not at high as wire transfers. A trader can add funds to
his/her account, starting from as low as 50 USD. Besides, you don’t need
to go to a bank or cash office physically. Every transaction from your
Visa cards can be processed from your home. And like any other funding
method, it won’t cost you a dime for depositing funds into your LMFX
trading account.
MasterCard
Like Visa, MasterCard is another American
Multi-National Financial Services Corporation, which processes payments
between the bank of merchant and the card issuing bank or the credit
union of a buyer.
MasterCard also allows you to add
transfers to your trading account within a matter of minutes. The
minimum funding amount is 50 USD or its equivalent EUR. It takes maximum
30 minutes to reach your account.
Skrill, Neteller, FastPay, and VLoad
Skrill, formerly known as Money bookers,
Neteller, FastPay, and VLoad are all online payment processors. These
processors work from any place in the world and the transactions are
almost instantaneous.
You get the funds in your account as soon
as the payment is made. The minimum amount of deposit is 50 USD or
equivalent EUR and it won’t charge any you any fees upon the
transaction.
This is perhaps the best funding method
offered by LMFX. It is instant and you can add the funding from any
place in the world, without paying a single penny.
For more info, please visit : LMFX broker review