Funding Methods at LMFX

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

Learn and Earn Contest at LMFX

Trading has risks. You can’t deny that. But for the return you get, the risk seems legit. But what if I tell you that you can trade without any risks and the return will be solid? Hard to believe, right?

If someone said to me that I could trade without any risks and get a genuine return, I wouldn’t believe him.

But LMFX is giving you this opportunity for real. And if you are wondering why there is no risk, it’s because you’ll be trading with your demo account. But the return you get from trading with your demo account is genuine. So, if you are new to trading and want to sharpen your trading skills, LMFX’s Learn and Earn Contest is for you.

How “Learn & Earn Contest” works? 

After you register at LMFX, you will be delivered a 100,000 USD deposit to your demo account for trading. Each round will start from the company’s first working day of that month at 00:5:00 server time. The round will end the last day of that month. If the day is by chance the company’s working day, then the calculations will be done by taking the prices displayed exactly at 23:59:59 server time. But if the last day of the month is a weekend, the closing price will be the prices of Friday 23:59:59 server time.

All the registered traders will trade via their Demo trading account using the virtual deposit till the round ends.

Winners

After the round closes, all the traders’ performance will be evaluated. Then the top 10 traders will be announced on the contest homepage. Among them, the best three traders will be rewarded with the following amount. First trader and the winner of the contest will get 1,000 USD as reward. The first runner-up or the second placeholder will get 500 USD as rewards. Third reward will be awarded to the second runner-up. He will get 250 USD.

If you are a winner, how will you know? 

The traders or participants who won the contest, the first, second and third placeholders will be notified by the LMFX Connect Account.

How and When will the reward be available? 

Winning amount will be distributed in USD and the funds will be available as the winner’s trading funds within 2 days from the moment you get the winner’s notification. The amount will be applied to the no-bonus type trading accounts only.

But if the winner doesn’t have a no-bonus type trading account, he will be given a chance to create one. 

How can I use the reward funds? 

The prize fund is trad able. Traders cannot withdraw the amount. They can only use this amount to trade. But if any trader at LMFX tries to withdraw any profit from his/her no-bonus type trading account that has had any contest, prize money or any non-with draw able amounts, the entire balance (or value) of such funds would be removed.

So if the trader wishes to withdraw funds from the no-bonus trading account, he/she will have to close all the trades. Only then can the trader withdraw without losing the bonus or prize funds.

For more info, please visit : LMFX broker review