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Does fixed account have fixed spread under all market conditions? Another broker I traded doesn’t guarantee freeze spread in volatile time and I lost too much. If spread is widen in negative way, will broker compensate for me?
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Dear dollace,
The point of the Fixed spread account type at LMFX is to offer fixed spread to the clients of the company. I don’t understand what you mean by freeze spread in volatile time, but I guess you mean keeping the spreads fixed as they are during regular market operations. As stated above - the meaning of the Fixed spread account is to have the spreads fixed during all kinds of market conditions. I hope that answers your question.
The post above was from March of 2016, but in case anyone comes across it I’ll share a partial webmail response to that exact question from me in Nov 2022, written by LMFX “Maggie Mendes”:
“Thank you for your request.
Please note that these spread values are average. They could always be changed from the market conditions.”
Considering that I cannot change my email address without providing photographic proof that the old one is out of commission, it is good that I have not given them any money.
well being strict is good, like imagine if anyone can come and change ur email with all the identity theft going on now a days, as long as the level of being strict is tolerable in a very acceptable way in my opinion. but over all they are good and safe to deal with anyway
It has been my experience that it be wise to exercise caution with the kind of crap people are willing to pull in the name of security. I’ve got to admit that it takes a bit of blind faith to believe that accounts are in safe hands, but going from the possible to impossible is a clue…
Another such case: After verifying with legal documents, I was able to have full access. Over time they changed their protocols by data mining using the verification documents to produce a set of questions like personal information about family members I did not know the answers to, cars I’ve never owned, etc…, and just like that, I no longer had access to that account. Luckily I didn’t have any money in that one either.
nope, i have not made any crypto withdrawals, do they still offer it, its a good option but im sticking with what works for me. skrill is what im using with them and its good.