Forex has been the largest global market for many years now, especially during the last decade. Trillions of dollars are traded every day at the global level. No wonder that such a huge market with millions of participants needs plenty of broker companies to support the large network of participants. Land FX is one of the brokers who stands out from the rest of the Forex crew. This broker is a retail or CDF broker but also offers ECN services. If you want to find out more about this broker, then read the following Land FX review to get the whole picture of this industry forerunner.
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The Background
The Land FX company was established by market experts who have plenty of experience under their belt. The company has been operating successfully for the last three years and freshened up the industry with their professional attitude and business methods. The company operates in numerous countries across Europe, Asia, and Australia. It is registered by some of the strictest financial authorities and Forex regulators like the UK FCA (Financial Conduct Authority), FMA (Financial Markets Authority) in New Zealand. Anyone who is in any way involved in the Forex market, either as a participant, potential participant or observer, must have heard about Forex regulation at the highest level of security. This means that the FCA and FMA registered Land FX has to comply with a set of rules which guarantee consumer and customer protection. Some of the rules include separating clients’ funds, start capital which covers real and potential risk, qualified staff, adequate and responsible financial conduct. The Land FX offers more than sixty currency pairs. As we said, the broker offers CDF services, and among others, you can trade commodities, indices, spot metals and spot oils. This broker is a retail broker for those who want to trade in the regular way, but for the more experienced who are on a hunt to win the big bucks, the broker provides the ECN network. The ECN network links traders directly to the market and to the best quotes coming from different liquidity providers, which increases winning odds. The broker is just the intermediary or linking party and not the liquidity provider as in the case of retail trading. Land FX does not charge any commissions for retail services, but it does for ECN services. Anybody who provides ECN services charges a commission because otherwise, it would not pay off for the broker.
The Land FX Trading Platform
Like many of the best broker companies, the Land FX broker also opted for the smooth MetaTrader 4 platform. This platform includes all features necessary for trading from a free demo account to sophisticated features like auto trading. It can be downloaded for free to your desktop or accessed online without any download. The user-friendly platform is equally convenient for beginners and professionals. Since mobile phones became the main tool for basically everything, it was only a matter of time when trading is going to be accessible via phone. For the Forex world and participants, this additionally changed the market. The Land FX also has a mobile app for traders who prefer phones over desktop computers. You can download the Land FX mobile app to your Android, iPhone, iSO, etc.
Account Types
As every professional broker, the Land FX broker offers also multiple accounts to meet the different needs of traders. If you are a newbie to the market, you can register with the free demo account for starters to gain some routine before you switch to one of the Land FX live accounts. Land FX live accounts include:
- Standard account
- VIP account
- ECN account
Land FX also offers MAM accounts via the MT4 MultiTerminal for investors and financial managers. The users can operate multiple accounts via one account. The required minimum deposit is $300 with Land FX, whereby the maximum leverage reaches 500:1.
Land FX Bonus
Land FX offers a welcome bonus on your first deposit in the amount of 10%. The bonus can go up to $3000. To get $3000 one had to make a significant first deposit. Another Land FX bonus is the 5% recovery bonus which is also connected to the first deposit (under the balance of $30). It is also important to mention that the recovery bonus is not meant to be withdrawn. Before accepting or applying for a bonus, every trader should read the Bonus Terms and Conditions because bonuses usually come with certain requirements.
Payment options
As a global broker who has branch offices across the world, the Land FX broker accepts a variety of payment methods from Credit cards (Visa and MasterCard) and bank wire transfer, to e-wallets like Neteller, Skrill, Perfect Money, AstroPay, WebMoney, FasaPay, China UnionPay, and Qiwi. They also offer the Land-FX Mastercard which is available to traders with a combined total balance of $2,000. The withdrawal process takes a couple of days, whereas credit card transfers take a little bit more (4-7 days).
Customer Support
The Land FX customer support seems to be competent and professional. With a service of 24/7, you can reach the support via e-mail, phone, and the so popular live chat. They also provide an online form on their website for questions with a response time of 24 hours. The broker’s website also features FAQ which usually contains all the information needed for a good start in the market.