General Information & Regulation
LatAm FX is an offshore broker owned and operated by Latam Global Markets Inc, a company registered in Saint Vincent and the Grenadine. Like most St.Vincent and the Grenadines registered and based broker, LatAm FX does not fall under any regulation either, so it is unsafe to trade with this broker.
Markets Instruments
Although LatAm FX claims that it offer rich financial instruments, only forex currency pairs and gold are available for trading on its demo account trading station.
Minimum Deposit
The minimum initial deposit for starting a basic account is $200. Although this is reasonable for most regular traders, given the fact that LatAm FX is unregulated, traders are not advised to register real trading accounts here.
Leverage
The maximum trading leverage offered by LatAm FX is 1:200. Such leverage ratios are not dangerously high, but will suit almost all trading styles.
Spreads & Commissions
According to the information on its website, LatAm FX‘s typcal spreads on Mini accounts are 2.2 – 2.4 pips on EUR/USD, which is not a competitive pricing. When we tested the broker’s Trading Station in demo mode, we found the spreads even higher, floating around 2.9 – 3.0 pips on the EUR/USD pair.
Trading Platform Available
When it comes to trading platforms available, what LatAm FX offers is not the MT4 or MT5 trading platform, a proprietary platform instead.
Deposit& Withdrawal
LatAm FX accepts various payment methods, including major credit or debit cards like VISA and MasterCard, e-wallets like Neteller, GiroPay, iDeal, Poli and Ukash, the online banking payment system SOFORT, as well as bank wire. The minimum deposit requirement vary between 200 USD and 25 000 USD depending on the account type.
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