Direct FX
lmfx
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Overview
Direct FX was founded in 2006 and is headquartered in New Zealand, while lmfx was established in 2016 and is based in Anguilla. Direct FX holds licences including Unregulated, while lmfx is regulated by Financial Conduct Authority (FCA) among others. Direct FX serves 10,000+ clients worldwide; lmfx has 10,000+. The minimum deposit is $1 at Direct FX and $250 at lmfx.
| Feature | Direct FX | lmfx |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Unregulated | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271 |
| Founded | 2006 | 2016 |
| Country | New Zealand | Anguilla |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Direct FX and lmfx, directly affecting your bottom line as a trader. Direct FX has a lower barrier to entry with a minimum deposit of $1 (vs $250 at lmfx). Neither broker charges withdrawal fees. Direct FX charges deposit fees; lmfx does not. Overall, Direct FX scores higher on fees in our assessment.
| Feature | Direct FX | lmfx |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Direct FX offers MT4, MT5, cTrader, while lmfx supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Direct FX supports social and copy trading features, which lmfx does not offer. Direct FX edges ahead on platform breadth and functionality in our scoring.
| Feature | Direct FX | lmfx |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Not available | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Direct FX and lmfx compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Direct FX | lmfx |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Direct FX accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while lmfx supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). lmfx uniquely supports PayPal and Skrill and Neteller among the two brokers. lmfx scores higher on deposit and withdrawal flexibility.
| Feature | Direct FX | lmfx |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Direct FX and lmfx offer live chat support. Both provide phone support. Email support is available at both brokers. Direct FX supports 2 languages and lmfx supports 8, giving lmfx broader global reach. Both brokers are comparable on support quality.
| Feature | Direct FX | lmfx |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |