LMFX realises that in today's economic climate one of the foremost concerns is keeping your funds secure at all times. Whilst this is a simple statement to make we feel that it is necessary to explain how we do this.
Funding into your LMFX account could not be easier. You access your Client area choose the payment gateway/method of choice and fund your account. So how are your funds secure?
When depositing, we only use reputable payment gateway providers from around the globe. This ensures that even when you are not funding directly to an LMFX bank account, your funds are still being held by a reputable institution under the name of LMFX. These institutions range from Neteller to more traditional banking institutions.
When you send funds to LMFX, to facilitate your trading activity these funds are sent to specific accounts designated as 'Client Accounts'. These Client accounts hold all the pooled funds of our Clients and are held separate from those funds held by the Company. This is why it is imperative that you send funds only to those accounts you can see on the Deposit pages of the LMFXconnect area.
In the unlikely event that you have funded an account that is designated a 'Company' account, there is no need to worry as our systems will pick this up and have the funds sent to the correct account.
Yes, it does. Segregated accounts are set-up in order to ensure that there is clear and complete separation of Client funds from those of the Company. This means that in the unlikely event that LMFX is no longer able to offer its services to its Clients, Client funds will be returned to them as they have been correctly accounted for prior to any trading activities being terminated.
In the event that LMFX is forced into liquidation, all funds designated as Client funds and held in the Client Accounts will be returned to the Clients as per the funds held on their behalf by LMFX minus any costs associated with administration and distribution of these funds.
As we highlight above we choose our payment gateways carefully and only work with those that have been operating in the marketplace for several years and have solid reputations. Furthermore, we spread any default risk by holding several accounts across different organizations and countries thereby diversifying any risk not only at the organizational level but also at the country level.