Here are the 9 pros and cons:

Land-FX Fact sheet

Every trader needs to fully trust his or her broker. The best way of determining whether your broker can be trusted or not is through regulations. 

Land-FX is registered at the Finance Services Authority (FSA) of Seychelles, with the registration number 23627 IBC 2016. It should be mentioned that the regulator is not strict and therefore the level of safety and security with this broker is not great. 

Land-FX gives traders access to a large number of trading accounts and all of them have many commonalities. They all support the MetaTrader 4 and MetaTrader 5 platforms and enable traders to open accounts in 4 base currencies (USD, EUR, JPY, GBP). However, there are also many differences. Each account type has its own unique features, allowing different trader types to easily find the account type that best suits their needs. Let’s learn more about each account to find out which might be the best for you. 

Standard account

The Standard account is best suited for novice traders and swing traders. Spreads on EUR/USD start from as low as 0.9 pips and there are no commissions. The available trading markets are Forex, CFDs, metals (gold, silver), oil, and futures. Auto Stop Out is at 0% and Margin call emails are sent at 30%. It’s important to note that the maximum volume per trade is 30 lots and the maximum volume of orders is 100 lots. Traders need to deposit at least 10 USD as their first initial deposit to be able to open this account type. Leverage is unlimited. 

Prime account

The Prime account offers better trading fees as spreads on EUR/USD start from just 0.5 pips and there are no commissions. It should be mentioned that traders need at least 300 USD to open Prime accounts. The maximum volume per trade with this account is 10 lots and the maximum volume of orders is 100 lots. Traders can also enjoy unlimited leverage on this account.

ECN account

The ECN account is for more active traders. This account offers the lowest real-time spreads and low fixed fees aimed at professional traders. There are no spread markups. On the other hand, traders are charged with a 0.3 pip per traded lot commission. The minimum initial deposit required to open the ECN account is 1,000 USD. Available markets for trading are Forex and metals (gold, silver). There are no indices on this account. The auto Stop Out level is at 30% and the margin call level is at 50%. The maximum volume per trade is 30 lots and the maximum volume of orders is 100 lots.

Swap Free (Islamic account)

The swap-free account, also known as an Islamic account, enables traders of the Muslim faith to trade without going against their religious beliefs. Traders should be informed that it’s called a swap-free account, but if you keep the open position for more than a week, the swap will be automatically charged. Available products for trading are Forex and metals (gold). The minimum initial deposit required to open the account is 10 USD and leverage is unlimited. The maximum volume per trade is 30 lots and the maximum volume of orders is 100 lots.

Fees and commissions with Land-FX are low compared to competitors. What’s more, there are no inactivity fees or fees on deposits, and withdrawals from the broker’s end are also free. While most funding options are free, when using the bank transfer method, intermediary financial institutions might charge traders for transferring funds. 

Comparing Land-FX fees with other brokers

Let’s compare Land-FX trading fees with other brokers to better understand how cheap the fees of Land-FX truly are. For the comparison, we picked fees of the Standard account type. The standard account doesn’t have any commissions but spreads on EUR/USD start from 0.9 pips. 

Land-FX fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Land-FX fees compared to CM Trading fees

Land-FX fees compared to plus500 fees

Land-FX fees compared to XM fees

Land-FX fees compared to AvaTrade fees

Land-FX fees compared to Capital.com fees

Land-FX offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) to its clients. Both platforms are very popular and have been in the market for a long time. MT4 was released in 2005 and MT5 in 2010. While the back end is updated regularly, both platforms look and feel pretty much the same as they did at their first release. Some might find the looks of these platforms outdated but they are extremely reliable. Both MT4 and MT5 can run on even old and low-end computers easily. MT5 has more time frames, pre-installed indicators, and features, but MT4 is simpler and better suited for solely trading currency pairs. 

In addition, the broker offers a mobile version of MetaTrader which enables traders to view live price charts and place different types of orders. 

Educational material and tools for research are available under the following tabs on the broker’s webpage:

• Company News
• Market Research & Info
• Weekly Tip
• E-Calendar
• Forex Webinar

While it’s great that traders have access to economic calendars, webinars, and market analysis, it should be mentioned that a trading glossary, seminars and one on one training with professionals are not available for beginners. Overall, the educational material with this broker is average. 

Land-FX provides its clients with 24/5 customer support. The customer support team is accessible via live chat, email, or over the phone. It should be mentioned that the customer service experience we had with live chat was not satisfactory, as the customer support agent was not able to answer our inquiries about regulations. Overall, we give the customer service of Land-FX a low rating. 

To sum everything up, Land-FX has good trading fees and unlimited leverage, giving its clients access to trading 86 instruments, including energies, Forex, indices, and metals. The broker offers a wide range of account types and the most popular MetaTrader platforms on computer and mobile. On the downside, the broker is not well-regulated, customer service is not great, and the number of tradable instruments is limited. Overall, we can say that Land-FX is an average broker.