Thinking
of trading with Lembex as your Forex broker? Read this comprehensive
Lembex review, completed by our team of experts, to determine if this
Malta-based brokerage is right for you.
The
first thing we noted is that Lembex is regulated by the MFSA (Malta
Financial Services Association). But aside from this regulation, there
were few redeeming qualities that we found about the brokerage. We’ve
reviewed hundreds of Forex brokers, and we found that most of them
provide much better explanatory and educational material than Lembex.
Additionally, Lembex provides trading of Forex, CFD's, Futures and
Stocks. We would have liked to see more commodities in that list.
Lembex
does provide both demo and regular trading accounts, however in order
to open an account you need to contact them first. You cannot see an
example of an account and there is no information provided unless you
contact them first. There is a 24 hour customer service, which can be
helpful.
When
depositing and withdrawing money into your Lembex account there is a
minimum $200 deposit required and there are withdrawal and wire transfer
fees on all transactions, which of course is not ideal. Lembex also
only accepts Visa and Mastercard credit cards for deposit.
Lembex
is a good company when trading simply with mostly Forex markets,
however we were disappointed overall with their website and the lack of
promotions, bonuses, and other features we have seen with other brokers.
