It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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Pros and Cons of Land Prime
Advantages:
Land Prime offers a variety of account types to suit different trading needs, including swap-free accounts for Islamic traders and ECN accounts for those seeking low spreads.
The company provides a range of deposit and withdrawal methods with no fees, making it easy and convenient for clients to manage their funds.
Land Prime offers a selection of popular trading platforms, including the widely used MT4 and MT5 platforms, as well as a web-based platform and mobile app.
The educational resources provided by Land Prime, such as an economic calendar, news, trading hours, and market research, can be helpful for traders seeking to stay informed and up-to-date on market conditions.
Customer support is available 24/7 via email and phone, with most inquiries being responded to within 24 hours.
Disadvantages:
The maximum leverage offered by Land Prime is quite high, which can increase the risk for traders who may not fully understand the potential consequences of trading on high leverage.
The spreads on the Standard and Swap-free accounts are relatively high compared to other brokers in the industry, which may not be attractive for traders seeking low trading costs.
The ECN account requires a relatively high minimum deposit of $1,000, which may not be accessible for some traders.
The range of base currencies offered for deposits is limited, which may be inconvenient for traders who prefer to operate in currencies other than USD, EUR, and JPY.
The customer support options are somewhat limited, as phone support is only available during weekday business hours.
What Type of Broker is Land Prime？
Land Prime is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, Land Prime acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that Land Prime has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with Land Prime or any other MM broker.
General Information
Land Prime is a global forex and CFD broker with over 10 years of experience in the financial markets. The company offers a range of financial instruments including forex, indices, and commodities through various trading platforms such as MetaTrader 4 and MetaTrader 5. With a focus on providing a high-quality trading experience to its clients, Land Prime offers competitive spreads, low commissions, flexible leverage options, and a variety of account types to choose from. The company also provides educational resources and responsive customer support to help traders make informed decisions and achieve their trading goals.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Regulation
Land Prime hold a license of General Registration under the authorization of the FCA, which means it gain some permission to operate forex-related trading services.
Market Instruments
Land Prime offers a range of trading instruments, including Forex, Commodities, and Indices. This allows traders to access multiple markets and asset classes and diversify their portfolio. The platform also provides 24/5 trading hours, providing traders with more opportunities to capitalize on market movements. However, the company does not offer shares as trading instruments. Additionally, it is important to note that Land Prime is not regulated by a reputable authority, which may be a concern for some traders.
Spreads and Commissions
Land Prime offers a competitive range of spreads and zero commission across their four primary account types: Asia Standard, Pro, ECN and Swap-free account. The lowest spread is available on the ECN account, starting at 0.0 pips, while the Standard and Prime accounts offer spreads starting from 0.9 and 0.5 pips respectively, with zero commission on all accounts. The Swap-free account is available for those who need to adhere to Islamic finance principles, with a commission of 0.3 pip/lot. Overall, the range of account types and costs offered by Land Prime is reasonably competitive and transparent, with detailed information available on their website. However, the limitation of only four account types may not suit all traders' needs, and inactive accounts with no transactions over a month are disabled, which may be inconvenient for some traders.
Account Types
Land Prime provides four types of trading account suiting various trader profiles. The popular Pro account, with a $10 minimum deposit, offers tight spreads from 0.9 pips on EUR/USD, leverage up to 2000:1, and zero commission. The Asian Standard account requires a $50 minimum, provides spreads from 1.7 pips on EUR/USD, and leverage up to 1000:1. Designed for professionals, the ECN account demands a $1000 minimum deposit, delivers zero spreads on EUR/USD, up to 1000:1 leverage, and charges a 0.3 pip per lot commission. For Islamic traders, the Swap Free account mirrors the Pro account's conditions while accommodating swap-free requirements, aside from positions held over a week.
Trading Platforms
Land Prime offers its clients access to the popular MT4 and MT5 trading platforms. These platforms are well-known in the industry and provide traders with access to advanced charting tools, technical analysis features, and automated trading capabilities. Additionally, the MT4 and MT5 platforms are available as mobile apps for Android and iOS devices, allowing traders to stay connected and manage their trades on the go. While these platforms offer a user-friendly interface, they have limited customization options and a limited selection of add-ons and plugins. Moreover, Land Prime does not offer a proprietary trading platform and its social trading features are limited.
Maximum Leverage
Land Prime offers a variety of leverage options across its different account types, with a maximum leverage of 1:2000 on its Pro account and Swap-free accounts, 1000:1 for the Asia Standard and the ECN account. Traders can choose the leverage level that best suits their trading style and goals, and have the ability to adjust it as necessary. While high leverage can increase the potential for profits, it can also lead to higher risks and losses, especially for inexperienced traders. It's important for traders to manage their leverage carefully and consider the potential risks involved. Land Prime has taken regulatory measures to ensure that the leverage limits comply with regulatory requirements. Overall, the maximum leverage dimension provides traders with flexibility and choice, but requires careful consideration and risk management.
Deposit and Withdrawal: Methods and Fees
The dimension of deposits and withdrawals is an important consideration when choosing a forex broker. Land Prime offers multiple deposit and withdrawal methods that cater to different preferences and needs. Visa/Mastercard, Sticpay, Neteller, Skrill, and USDT are the available deposit methods with no deposit fees for any method. Deposits through Sticpay are instant while the other methods take 1-2 hours. The available base currencies for Visa/Mastercard and Neteller are numerous, while Skrill and USDT only support USD. The maximum deposit limit varies depending on the method, with Sticpay having the highest limit of $50,000. Meanwhile, withdrawals can be made through bank wire, Sticpay, Neteller, and Skrill. Withdrawals through bank wire may take longer, and there are fees for Neteller and Skrill. The withdrawal fees for Neteller are 2% (min1usd, max 30usd) per transaction, while Skrill charges a 1% fee per transaction. STICPAY also charges a withdrawal fee of 0.3USD + 2.5% per transaction. Overall, Land Prime offers a good range of deposit and withdrawal methods with minimal fees and fast processing times.
How to Fund your Forex Trading Account with Land Prime？
How to Withdraw Funds？
Educational Resources in Land Prime
Land Prime offers a range of educational resources to help clients make informed trading decisions. These resources include an economic calendar, news, trading hours, and market research. The economic calendar helps clients stay up-to-date on important economic events and announcements that can impact their trades. The market research section provides valuable insights into different trading instruments and strategies. Additionally, the trading hours information helps clients plan their trades according to when the markets are open. Overall, these educational resources can be a valuable tool for clients to improve their trading skills and stay informed about market movements. One potential disadvantage is that the educational resources may not be sufficient for more experienced traders looking for in-depth analysis and advanced trading strategies.
Customer Service
Land Prime provides customer support through email and phone calls, with email support available 24/7 and phone support available 24 hours on weekdays. The response time for inquiries is generally quick, with most inquiries being responded to within 24 hours. However, the company does not provide 24/7 phone support or live chat support, which may be inconvenient for traders who require immediate assistance outside of regular business hours. Nonetheless, the availability of support channels and the promptness of responses can be beneficial for traders seeking help with their trading accounts or inquiries related to the company's services.
Conclusion
Overall, Land Prime is a forex broker that offers extensive trading instruments, account types, and deposit/withdrawal methods. The company strives to provide a transparent and fair trading environment to its clients. The educational resources and customer support services offered by Land Prime are also noteworthy. However, the company does have some limitations, such as limited leverage options and a lack of cryptocurrency trading. Overall,Land Prime could be a suitable choice for traders who prioritize regulation and education, and are looking for a reliable forex broker with a strong reputation in the industry.
Frequently Asked Questions (FAQs)
Q: What types of trading accounts does Land Prime offer？
A: Land Prime offers four types of trading accounts: Pro, Asia Standard, ECN and Swap-free accounts.
Q: What are the maximum leverage ratios offered by Land Prime？
A: The maximum leverage ratios offered by Land Prime is up to 2000:1.
Q: What are the deposit and withdrawal methods available at Land Prime？
A: Land Prime offers a variety of deposit and withdrawal methods, including VISA/MasterCard, Sticpay, Neteller, Skrill, and USDT.
Q: Does Land Prime charge any deposit or withdrawal fees？
A: Land Prime does not charge any deposit fees for any of its payment methods. However, some withdrawal methods, such as Neteller and Skrill, may have associated fees.
Q: What educational resources does Land Prime offer？
A: Land Prime offers a range of educational resources, including an economic calendar, news, trading hours, and market research.
Q: What are Land Prime's customer support hours？
A: Land Prime's customer support team is available 24/7 via email and Monday to Friday via phone calls. Most inquiries are responded to within 24 hours.
Q: Is Land Prime a regulated broker？
A: No, Land Prime is not a regulated broker.
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