Land-FX Review: A Forex broker with decent fees and unlimited leverage

land-fx.com
nika
Written by:
Av
konstantinrabin
Calendar
Written on:
2 April 2023
Date
Last edit:
22 June 2023
Our rating:
5.76

5.76

Land-FX Review: A Forex broker with decent fees and unlimited leverage

land-fx.com
nika
Written by:
Calendar
Written on:
2 April 2023
Date
Last edit:
22 June 2023
Our rating
5.76

5.76

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.
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Main summary

Land-FX is a Forex and CFD broker operating globally and serving more than 210 thousand active clients. 

The broker has low barriers to entry as traders can open accounts with as little as 10 USD. Leverage is unlimited and the broker offers a wide range of trading accounts. The broker is registered with the Finance Services Authority (FSA) of Seychelles.

There are 86 tradable instruments available, including energies, Forex, indices, and metals. The broker allows traders to fund their accounts using various methods. 

In our review of Land-FX, we’ll uncover the safety and security of the broker, learn more about account types, discuss available trading software, compare trading fees with other brokers, and more.

Here are the 9 pros and cons:

  • The broker is licensed in Seychelles
  • Offers access to MetaTrader 4 and MetaTrader 5
  • Fast and digital account opening/verification
  • Offers access to trading Energies, Forex, Indices, and Metals
  • No fees on deposits and withdrawals from the broker’s end
  • No inactivity fees
  • Low barriers to entry. Accounts can be opened from 10 USD
  • Regulator is not strict
  • Number of tradable instruments is low. Traders have access to 86 assets

Land-FX Fact sheet

Main features
Regulations Seychelles
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 0 USD
Minimum deposit 10 USD
Minimum account activation 10 USD
Number of available assets 86
Leverage up to 1:5000
Available trading markets Energies, Forex, Indices, Metals
Account currencies USD, EUR, JPY, GBP
Demo account Yes
Live account types Standard, Prime, ECN
Islamic account Yes
Security
Negative balance protection Yes
Part of compensation fund -
Keeps funds on segregated bank account Yes
Assets
Forex 67
Shares 0
Cryptocurrencies 0
Indices 11
Commodities 8
Total 86
Fees & spread
Forex From 0.9 pips
Shares N/A
Cryptocurrencies N/A
Indices From 1.5 pips
Commodities From 0.9 pips
Software
Platforms MetaTrader 4, MetaTrader 5
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Credit/Debit Card, Fasapay, Neteller, Perfect Money, Skrill, UnionPay
Minimum deposit Bank Transfer, Credit/Debit Card, Fasapay, Neteller, Perfect Money, Skrill, UnionPay
Minimum withdrawal Bank Transfer, Credit/Debit Card, Fasapay, Neteller, Perfect Money, Skrill, UnionPay
Withdrawal processing time instant
Time to open an account -
Show all

Safety & Security of Land-FX

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. 

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Account types available for traders on Land-FX

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 & commissions review of Land-FX

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

Type of FeeLand-FXInteractive Brokers
EUR/USD SpreadFrom 0.9 pipsFrom 0.6 pips
Fees on DepositsNo1%
Inactivity feeNoNo*

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

Land-FX fees compared to CM Trading fees

Type of FeeLand-FXCM Trading
EUR/USD SpreadFrom 0.9 pipsFrom 0.9 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 15 EUR/USD per month after 60 days of inactivity

Land-FX fees compared to plus500 fees

Type of FeeLand-FXplus500
EUR/USD SpreadFrom 0.9 pipsFrom 0.8 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 10 USD per month after 3 months of inactivity

Land-FX fees compared to XM fees

Type of FeeLand-FXXM
EUR/USD SpreadFrom 0.9 pipsFrom 0.6 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 15 USD after 12 months, +5 USD/m

Land-FX fees compared to AvaTrade fees

Type of FeeLand-FXAvaTrade
EUR/USD SpreadFrom 0.9 pipsFrom 0.9 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 50 USD after 3 months, 100 USD administration fee after a year

Land-FX fees compared to Capital.com fees

Type of FeeLand-FXCapital.com
EUR/USD SpreadFrom 0.9 pipsFrom 0.9 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at Land-FX

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. 

Education and research tools offered by Land-FX

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. 

Customer support of Land-FX

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. 

Conclusion

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. 

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FAQs about Land-FX

Is Land-FX a good broker?

Land-FX is an average broker. The broker is registered with the Finance Services Authority of Seychelles, which is not a strict regulator. Offered platforms available are MetaTrader 4 and MetaTrader 5, but most competitors are offering the same trading software, so it is nothing to write home about. The number of tradable instruments is not great and is limited to 86. On the bright side, the broker has good fees. 

Are trading fees low with Land-FX?

Yes. Land-FX offers various account types to its clients and fees are different for each account holder. However, trading fees are low with this broker. Standard account spreads on EUR/USD start from 0.9 pips and there are no commissions. On the Prime account spreads are even lower and start from as little as 0.5 pips. The ECN account has no spread markups, and instead, charges a commission of 0.3 pips per lot.