LXFX Information
Founded in 2015 and headquartered in the United Kingdom, LXFX is a non-regulated financial services provider offering products including forex, equities, index CFDS, commodities and cryptocurrencies.
They have standard, ECN professional and analog (risk-free) trading accounts and their cTrader platform is compatible with desktop, mobile and Web.
Pros and Cons
Is LXFX Legit?
LXFX claims to have provided three legal disclosures, including a money laundering policy, a customer agreement, and a privacy policy.
However, according to the report, it is currently in a state of no effective supervision, which means that its activities are not supervised by the government or financial institutions.
What Can I Trade on LXFX?
LXFX offers traders the opportunity totrade Forex (Foreign Exchange), Stock CFDs (Contract for Difference), Global Stock Indices, Commodities, Cryptocurrencies, and Gold & Silver.
Account Types
LXFXoffers two live account types: STND Standard Account and ECN Low Spread Account.
Leverage
LXFX offers different leverage depending on the type of account and financial instrument. Forex trading (STND, ECN account) leverage up to 200:1.
The leverage of spot gold and silver is up to 100:1, which is conducive to small holdings in the precious metals market;
Commodities such as spot oil and global indices are leveraged up to 50:1.
LXFX Fees
Both account types generate commissions of $10 per standard lot for index trading.
STND Standard Account:
- The spreads start from 1.6 pips in EUR/USD and 4.0 pips in AUD/USD.
- No commission on forex, gold, silver or oil transactions.
ECN Low Spread Account:
- The spreads start from 0 pips in Eur/USD, 1.0 pips in XAU/USD.
- CommissionUSD 10 per standard lot of Forex, gold and silver trading.
Trading Platform
LXFX offers three different versions of the cTrader trading platform.
Deposit and Withdrawal
LXFX supports a variety of payment methods for funding trading accounts, including Bank Transfer, VISA and Mastercard, Skrill, Tether (USDT).
For STND standard accounts, the minimum deposit is $300.
For ECN Low Spread accounts, the minimum deposit requirement is $3,000.
Withdrawal fees are not mentioned.
