Land-FX is a global forex brand that offers online trading in currency pairs, commodities and indices on the MT4 and MT5 trading platforms. The broker offers low spreads, reliable trade executions, market news, research and investor options such as social trading and managed accounts.
Land-FX Review, Pros & Cons
- Regulated brokerage
- Access to trade on the popular MetaTrader platforms; MT4 & MT5
- PAMM accounts
- Social trading via ZuluTrade
- Multiple payment options
- Limited trading instruments
- No cryptocurrency trading
- No individual stock trading
- Lack of educational resources on website
- No US clients
- Minimum $300 deposit
In this detailed Land-FX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Land-FX was set up in 2008 by financial market experts with many years of practical experience. The brokerage aims to provide the best services and solutions to its clientele with the aim of helping them grow in the technologically driven financial markets of today.
Land-FX has its head office in London and offices in other locations namely; Moscow, Jakarta, Singapore and Selangor (Malaysia), China and the Philippines. The broker currently boasts of around 10,000 clients from all over the world.
Land-FX operates the STP/ECN brokerage model. To ensure competitive trading conditions, Land FX is provided liquidity by top banks including JP Morgan, UBS, Bank of America, Citibank, Morgan Stanley, Deutsche bank, BNP Paribas, etc. This has enabled the broker to offer its clients tight spreads and rapid trade executions with an average time of 0.035 seconds.
Land-FX offers its clients the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms which are amongst the best trading platforms used for forex and CFD trading by millions of users all over the globe.
In recognition of its good work over the last 12 years, Land-FX has been honoured with several industry awards for its broker services. These awards include the following:
- 2013 broker of the year at the CIOT Global expo
- 2014 Best Retail forex provider at China Forex Expo
- 2015 Best Retail FX broker at the Forex innovation and investment summit
- 2016 Best Forex Broker in Asia by CGIIF
- 2017 Most Trustworthy Forex Broker at the Investment and Financing Expo
- 2018 Best Trading Environment Broker at the Global Financial Derivative Conference
- 2019 Best CFD broker Europe by the International Business Magazine
The global arm of Land-FX is operated by regulated in Saint Vincent and Grenadines by the Financial Services Authority (FSA) with the license number 23627 IBC 2016.
The broker is also regulated by the Financial Conduct Authority (FCA) of the UK through its British arm, Land-FX UK Limited with the license number FRN: 709866 as well as the Financial Markets Authority (FMA) of New Zealand with the license number FSP264385. This arm operates the website www.land-fx.co.uk.
Being under these regulators obliges Land-FX to ensure the safety of their clients’ funds which should be held in top tier 1 banks. These funds must be completely segregated from the broker’s own funds and should not be used by Land-FX under any circumstances.
Clients’ funds are further insured by the Financial Services Compensation Scheme (FSCS) of the FCA where each eligible customer can make a claim for a maximum sum of £85,000 in the event of the broker’s bankruptcy.
Land-FX is also a part of the Financial Services Complaints Limited, an independent dispute resolution body aligned with the FMA of New Zealand where eligible customers can be eligible to a maximum of $200,000 in compensation in the event of a dispute.
The brokerage services of Land-FX are not available to citizens and residents of the United States of America, Cuba, Sudan, Syria and North Korea as well as territories that are on the United Nations Security Council sanctions list.
Some Land-FX broker features and products mentioned within this Land-FX review may not be available to traders from specific countries due to legal restrictions.
Land-FX provides the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms to its clients for all trading activities. MT4 is one of the most widely used trading platforms in the world of forex and CFD trading. It was developed by MetaQuotes Soft Corp. in 2005. Then in 2010, the company developed the more powerful MT5 platform with some additional features.
Due to compatibility issues, software applications developed for MT4 will not run on MT5 and an MT4 installation cannot be upgraded to MT5. Thus, brokers like Land-FX offer both platforms side by side to its clients.
MT4 and the MT5 have a similar physical appearance, interface and capabilities. Both platforms have powerful tools for trading and market analysis as well as versatility. They support expansion via plug in apps and automated trading through the scripting and installation of Expert Advisors (EAs).
The major differences between the platforms are in the features and functions. Applications for the MT4 platform are developed with the MQL4 language while that of MT5 is the updated version; MQL5. MT4 charts can be displayed on 9 timeframes while that of MT5 is 21 timeframes. MT4 comes preloaded with 30 technical indicators while the MT5 comes with 38 though both can be increased to thousands through plugin apps. Around 24 analytical tools come with MT4 while MT5 comes with 44 analytical tools. Both platforms offers complete order management tools including 4 pending orders on the MT4 while MT5 has 6 pending order types. The economic calendar is embedded in the MT5 while it is absent in the MT4.
Land-FX offers the MT4 and MT5 platforms for desktop, web and mobile devices running on Android/iOS. The mobile trading apps are useful for those who need to access their account and trade whilst on the go.
Land-FX Trading Tools
There is a real-time economic calendar on the Land-FX website known as the e-calendar. It provides the time of important events that can have an impact on the markets. It also shows the analysts’ consensus and previous figures expressed as percentages. The economic calendar is also found built-in the MT5 trading platform.
Land-FX offers its clients social trading through its partnership with ZuluTrade; on of the leading social trading platforms. Clients can create a ZuluTrade account, search and follow the trades of other users (signal providers) through ZuluTrade. The signal providers are ranked by their performances and trading history through the ZuluRank system which is readily available to all. After settling for a signal provider, the client can follow trades automatically and replicate trading strategies. Clients who want to offer their trades to followers can make use of this tool and be compensated for their efforts. A minimum deposit of $300 is required to access the social trading feature.
It should be noted that there are no guarantees of the performance of trading signals and historical results should not be an indication of future performance. You should have a clear understanding of all the significant risks involved with trading online.
Market Research Info
This section focuses on market news, charts and expert analysis provided by analysts from Land-FX. It comes up periodically on the website. It provides trading insights and in-depth technical analysis on selected trading instruments especially the major forex pairs and Gold.
Investors who want traders to manage their funds and trade on their behalf can subscribe to the Land-FX PAMM system. Clients can choose a fund manager from the ‘Leader Board’ list based on their performance and other metrics. The fund manager then trades with their funds after agreeing to a predetermined weekly or monthly profit sharing formula which is distributed automatically by the system. There is also a management fee which is optional depending on the manager. The PAMM investor can follow his fund manager’s performance in real time. Traders interested in being fund managers can also subscribe to the PAMM system on Land-FX. Again, there are no guarantees on performance and significant risks involved.
Land-FX presently does not have any defined educational resources on its website. This is disappointing as educational materials such as tutorial videos and trading guides can help beginner traders improve their trading skills and knowledge whilst they also encourage informed trading.
Land-FX currently offers 67 forex currency pairs, 11 indices and 7 commodities on its platform.
Land-FX Accounts & Fees
Land-FX offers two types of live accounts for its clients.
This is Land-FX’s entrance level account. One can open an account with the minimum of $300. There is no commission on this account. The spreads on this account start from 0.8 pips on the major currency pairs. These are not the lowest spreads that the trading brokers review team have seen. The maximum leverage allowed is 1:500. The smallest lot tradable is 0.01 while the largest is 100 lots. All trading instruments are allowed on this account including commodities and indices. Swap free Islamic account options that comply with Sharia law are available upon request. The standard account is available on both the MT4 and MT5 trading platforms.
This is the flagship account that utilizes the power of ECN technology. It features rapid trade execution speeds and more competitive spreads as well as direct access to the markets. Spreads on instruments like EURUSD and GBPUSD start from 0 pips and there is also an additional trade commission of 0.3 pips per trade per side (0.6 round trip). Only MT4 is available for trading on this account type whilst the minimum deposit required is $2,000. The maximum leverage is 1:200 and the minimum position size on this account is 0.1 lots whilst the maximum is 100 lots. Only 25 currency pairs are offered and there are no Islamic options for this account.
It should be noted that European residents have to abide by the ESMA restrictions which limit them to a leverage of 1:30 on forex and 1:10 on commodities.
Demo accounts are available for clients who would like to test their trading strategies or learn more about trading online before going live. Demo accounts are available on both the MT4 and MT5 platforms. The demo account is preloaded with virtual funds up to $100,000.
Land-FX has its customer agents available for 24 hours from Monday to Friday. They can be reached at their call centres through phone, email, contact us form or live web chat on their websites www.land-FX.com and www.land-fx.co.uk. There is also a Facebook page where clients can get real time assistance. Customer representatives can communicate in several languages.
Land-FX Deposit & Withdrawal
Customers can make deposits into their Land-FX accounts using debit/credit cards. They can deposit as low as $5 using this method while the maximum amount is $10,000. Processing time for this method is under an hour for deposits while withdrawals take 4-7 business days. Visa, MasterCard and UnionPay are the acceptable cards on Land-FX. There are no fees on deposit and withdrawal.
In addition, there is a special Land-FX prepaid MasterCard for its customers. It is acceptable in over 200 countries and can be used on most ATMs worldwide as well as online and offline merchants that accept MasterCard. Withdrawal with this Land-FX prepaid MasterCard from one’s account is instant. HK$500 is the minimum required to activate it. Daily transactions are limited to $2,000 while monthly transactions have a maximum limit of $9,000.
Deposits can be made through international bank transfers. This method requires a minimum of $300 while there is no maximum limit. Deposits take 1-2 business days while withdrawals take 2-5 business days. US dollars, Yen, Euros and Swiss Francs are acceptable through this method. Apart from bank charges, Land-FX does not charge any fees on this method.
Land-FX allows for the use of online payment solutions. These include e-wallet payments like Neteller, Skrill, SticPay, FasaPay, WebMoney and Perfect Money. The minimum deposit is $5 while there is a maximum of $10,000. The processing time for deposits is instant while withdrawals take 1-2 business days. There are no fees for deposits but there are fees for withdrawals. This is dependent on the particular e-wallet option. The withdrawal fees are as follows:
SticPay: $0.3 + 2.5%, Neteller: 2%, Skrill: 1%, Perfect Money: 1.99%, WebMoney: 0.8% while FasaPay is free.
Land-FX usually waives away fees for deposits above $100. The same method used for deposits must be used for withdrawals. The amount of withdrawals on credit/debit cards and e-wallets cannot exceed the original amount deposited with these methods.
As broker fees can vary and change, there may be additional fees that are not listed in this Land-FX review. Third party payment providers may charge fees. It is imperative to ensure that you check and understand all of the latest information before you open a Land-FX broker account for online trading.
Land-FX: Account Opening
Opening an account on Land-FX entails clicking on the ‘open account’ tab on the broker website. You are given the choice of opening a demo or live account. If you choose a live account you will be given the choice of choosing between the standard account and the ECN account. Once you click on your choice, you can fill a form with your account type, personal details and contact information.
You will be prompted to click on a tab under your phone details. This will trigger a verification SMS to be sent to your number with your verification code. Once you fill in the code and click the ‘next step’ button, you will be taken to the second page where you have to fill in the customer agreement form.
This involves filling in details of your financial net worth and employment status and trading experience. You will also have to verify your identity and residence by uploading KYC documents. Once that is done, you will go through an optional additional risk disclosure form. Afterwards, you can fund your account and start trading online once you feel ready to do so.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Land-FX is regulated by the UK’s FCA and New Zealand’s FMA which ensures that they must follow strict rules and regulations that are put in place to try and protect investors. The broker also has an offshore regulation via the FSA SVG which takes care of international clients.
The ECN model can provide competitive trading conditions whilst the choice of MetaTrader platforms are suitable for a variety of trading styles and experience levels. The social trading partnership with ZuluTrade may also appeal to investors who do not have no time or expertise to analyze and trade by themselves. Other investors who prefer managed accounts may be interested in the PAMM system.
Despite the positive, there is a distinct lack of educational resources on the brokers website and limited instruments outside of currency trading. The brokers minimum deposit requirement of $300 for opening an account can also deter some potential customers and the spreads are no the tightest we have seen. Furthermore, the market research and expert analysis could also be updated more frequently.
Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.