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.
Review info: Lembex
Review Date: 2012-04-19
Rating : 3.5
Reviewed By : Sara Patterson (Google+)
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