Land FX Review: Regulations, Platforms, Trading Instruments - Pros and Cons Unveiled

Land FX, a licensed forex and CFD broker that extends its services to more than 200 countries, is under the spotlight in this comprehensive review. We'll explore their demo competition, customer support quality, and delve into the merits and demerits of their MT4 and MT5 trading platforms. If you're considering creating a Land FX account, read on for a deeper understanding.

Broker Details: Where Land FX Operates

Land FX operates as an international broker with multiple branches across the globe. Land-FX UK Ltd. is London-based and caters to the UK and European Economic Area (EEA) residents. Meanwhile, LandPrime Ltd. is registered in St. Vincent and the Grenadines, and Land-FX Ltd. operates out of Cyprus, maintaining a strong presence in Europe, Asia, and North America.

Trading Platforms:

Land FX offers several robust trading platforms with advanced features:

MetaTrader 4 (MT4)

MT4 is tailor-made for forex trading, boasting a wealth of data and user-friendly design. It caters to both beginners and experienced traders. You can download MT4 for free on Windows and Mac from Land FX's official website. Moreover, it supports 30 languages and comes equipped with over 30 analysis tools, 9 timeframe options, 50 customizable indicators, and supports algorithmic trading. For those who prefer copy trading, MT4 also integrates with the ZuluTrade platform. However, it's important to note that MT4 is unavailable for clients from the UK and EU.

MetaTrader 5 (MT5)

MT5 takes trading to the next level, designed for CFDs, stocks, and forex. With 21 timeframe options, additional pending order types, 8 extra technical indicators, and 44 chart analysis tools, it offers deeper market insights. MT5 also excels in algorithmic trading and features a multi-threaded strategy testing system. Importantly, MT5 is available to all traders, irrespective of their location.

Trading Instrument

Land FX provides a competitive array of tradable instruments, including 67 forex pairs and two-dozen CFDs covering metals, energies, and stock indices. Notably, cryptocurrencies and shares are missing from their product list.

Spreads & Commissions:

Land FX's primary revenue comes from spreads. They charge commissions only on ECN accounts. Global clients pay 3.5 pips per trade, while UK and EU traders pay 3 pips. ECN accounts offer the most competitive spreads, with average rates of 0.8 pips for EUR/GBP, 0.3 pips for EUR/USD, and 0.9 pips for GBP/USD pairs. Land FX also applies swap fees for positions held overnight, which vary according to the instrument and liquidity.

Leverage:

Leverage rates at Land FX are competitive, reaching up to 1:500 for global forex traders. For metals and energies, leverage extends to 1:200 and 1:100, respectively. However, UK and EU traders face a maximum leverage rate of 1:200 for forex pairs. Note that leverage rates decrease for larger trade volumes.

Mobile Apps:

Both MT4 and MT5 are available as mobile apps for Android and iOS devices. These mobile platforms offer full functionality, including charting options, technical indicators, and complete trading histories. MT5's mobile version is especially comprehensive, featuring all order types, interactive charts, over 80 analysis tools, and one-touch trading.

Payment Methods:

Land FX offers a variety of payment options for deposits and withdrawals. You can deposit via Visa, Mastercard, bank wire transfer, or Neteller. Global traders can also use STICPAY, while UK and EU clients have the option of Skrill. Note that Neteller and Skrill have minimum deposits of $1,000 for UK and EU clients. The processing times for most payment methods typically range from 1 to 2 hours, with the exception of bank transfers, which can take up to 2 days.

Demo Account:

Land FX provides a fully functional demo account, offering a wide range of tradable assets, swift execution, and a choice of leverage rates. Global clients can practice using both MT4 and MT5 platforms, while UK and EU clients can only utilize MT5 for their trials. You'll have access to up to $100,000 in virtual funds to explore various trading strategies, charting types, and analysis tools. Furthermore, Land FX hosts a weekly demo contest for global clients, offering the opportunity to win cash prizes, with the first-place winner receiving $500. Weekly winners are invited to demo championships, with a maximum prize of $3,000. Participation is free, requiring only registration for a Land FX competition demo account and the installation of the MT4 software.

Deals & Promotions:

Land FX extends a 10% bonus on initial deposits, up to $3,000, for global clients who complete a specified number of trades. For instance, a $30 bonus is granted after conducting 6 lots worth of trading with a $300 deposit. The required lot size increases with larger deposits, reaching 600 lots for a $3,000 bonus. Additionally, global clients who experience a margin call of $30 can receive a 5% recovery bonus. It's essential to request these bonuses before registering, by contacting the support team. Please note that UK and EU regulations prevent the broker from offering bonuses in 2023.

Regulation & Licensing:

The global branch of Land FX is regulated in St Vincent and the Grenadines by the Finance Services Authority (FSA). The UK and EU branch operates under the regulation of the UK Financial Conduct Authority (FCA), granting them the authority to serve clients across the EEA. Land FX UK is also a member of the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS), offering added security to clients. The FSCS provides compensation up to £50,000, and the FOS impartially resolves disputes.

Additional Features:

Land FX offers several additional features to enhance the trading experience:

Economic Calendar

The broker's website includes an economic calendar that provides timings, previous results, and volatility ratings, helping traders make informed decisions.

FIX API

The FIX API is a valuable tool to reduce latency and execution times, connecting traders directly to liquidity providers, minimizing slippage during busy periods. UK and EU clients can apply for a FIX API to enjoy enhanced transparency, speed, and customization.

Percent Allocation Management Module (PAMM)

For global clients, Land FX offers a PAMM system, allowing traders to set up or invest in public funds. The system comes with user-friendly visualization and analysis tools, market history reports, and profit distributions, all accessible on the website without the need for downloads or installations.

Account Types:

Land FX offers three account types for global users and three for UK and EU clients each account type caters to different preferences:

Global Standard Account

• Trade a wide range of assets, including forex, metals, commodities, oil, futures, and CFDs.
• Enjoy competitive spreads starting from 0.8 pips on major FX pairs.
• Access deposit and recovery bonuses.
• Islamic account option available.
• Minimum deposit: $300.
• Leverage up to 1:500.
• No commissions.
• Compatible with both MT4 and MT5 platforms.

Global ECN Account

• Designed for trading forex and spot metals exclusively.
• Benefit from razor-thin spreads, starting from 0 pips on major FX pairs.
• No deposit or recovery bonuses are provided.
• Minimum deposit: $2,000.
• Leverage up to 1:200.
• A commission of 0.35 pips per trade.
• Compatible with MT4.

Global ZuluTrade Account

• Ideal for those interested in forex, CFDs, and commodities.
• Experience spreads starting from 2 pips on major FX pairs.
• No deposit or recovery bonuses.
• Minimum deposit: $300.
• Leverage up to 1:500.
• No commissions.
• Compatible with MT4.

UK & EU Standard Account

• Trade a variety of assets, including forex, metals, commodities, oil, futures, and CFDs.
• Competitive spreads, starting from 0.8 pips on major FX pairs.
• Access deposit and recovery bonuses.
• Islamic account option available.
• Minimum deposit: $300.
• Leverage up to 1:200.
• No commissions.
• Compatible with MT5.

UK & EU ECN Account

• Specifically designed for trading forex and spot metals.
• Enjoy minimal spreads, starting from 0 pips on major FX pairs.
• No deposit or recovery bonuses.
• Minimum deposit: £5,000.
• Leverage up to 1:200.
• A commission of 0.3 pips per trade.
• Compatible with MT5.

UK & EU VIP Account

• For trading forex, CFDs, and commodities.
• Spreads start from 2 pips on major FX pairs.
• No deposit or recovery bonuses.
• Minimum deposit: $300.
• Leverage up to 1:200.
• No commissions.
• Compatible with MT5.

Trading Hours:

Forex markets are open 24 hours a day during the week. However, other instruments have different trading hours based on their respective markets. Land FX's trading platforms remain accessible for market analysis and client portal management even on weekends.

Customer Support:

Land FX offers customer support via phone, email, and live chat. The support team is available via phone from 09:00 to 17:00 GMT, Monday through Friday. Additionally, there's a live chat option on the website for immediate assistance.

Contact details for the UK and EU branch are as follows:

• Telephone: +44 203 735 9155
• Email: help@land-fx.co.uk

For the global branch, you can reach them at:

• Telephone: +63 2 776 7086
• Email: help@land-fx.com

The tech support team is knowledgeable and can help with a range of inquiries, from platform system requirements to portal login issues.

Client Security:

Land FX takes client security seriously. All client funds are kept separate from the company's capital. UK and EU client funds are held with Barclays, while global client funds are held with JP Morgan Chase. Additionally, Land FX's MT4 and MT5 platforms offer an extra layer of security through one-time-password (OTP) authentication.

Pros and Cons:

Pros of Trading with Land FX:

• Engaging cash prize demo competitions.
• Regulated and trustworthy.
• Access to social and copy trading.
• Competitive spreads.
• A diverse selection of over 50 forex pairs.
• The PAMM system for enhanced investment options.
• Compatibility with both MT4 and MT5 platforms.

Cons to Consider:

• Withdrawal fees.
• Absence of cryptocurrencies.
• Limited quick-access training webinars and tutorials.
• Higher minimum deposit requirements for some payment methods.

Land FX is a trustworthy broker with multi-jurisdictional regulation and competitive pricing. While their offering includes a variety of forex pairs, it could be further enriched with additional commodities and the inclusion of cryptocurrencies. Overall, Land FX provides a competitive service, complete with enticing bonuses and engaging contests.

Land-FX Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.