Position in Rating | Overall Rating | Trading Terminals |
100th  | 3.3 Overall Rating |  |
Land Prime Review
The world is changing and so does trade. Back in the 1800s and 1900s people had to travel for miles to carry out trade. In most cases the trade was all about exchange of good for goods. In today’s digital world, things have been made easier, you can carry out trade with the help of a broker in the comfort of your home. A broker is a person or company that acts as a middleman between two parties (the buyer and seller) and facilitates transactions between them in exchange for a fee or commission. An example of such a broker is the Land Prime.
Land Prime is a licensed and regulated CDF and forex broker. It commenced its operations in 2013 where it mainly majored in forex trading. The broker is rapidly growing and as of now it has established branches in over 200 countries. Some of the branches include Land-FX UK Ltd for European Economic Area and UK based residents, LandPrime Ltd and Land-FX Ltd which has a number of offices across Asia, Europe, and North America. This post aims to give traders an overview of Land Prime trading instruments, customer support, fees and trading platforms. We will also compare it with other brokers and see how it is rated among other brokers offering online trading. Read on!
What is Land Prime?
Land Prime, an online broker was established in 2013 by a team of experts that are well knowledgeable and has hand-on experience in the financial market field. According to its mission and vision, Land Prime main goal is to provide good trading services and creative solutions to its traders and aid in their growth in the global markets. It started as a forex trading platform only but over the years it has expanded and added new trading instruments to its platforms.
Land Prime is a trusted and safe broker. This is because it is regulated and licensed by various bodies such as the Financial Services Authority (FSA) in the Grenadines and St Vincent. The Financial Services Authority ensures that the traders are enlightened on the risks involved in trading. Another body that regulates Land Prime is the UK Financial Conduct Authority and caters for traders in the EEA and the UK.
Land Prime allows traders to diversify their portfolio my offering a variety of assets they can choose to trade in. With Land Prime you can trade in 67+ forex pairs, indices, metals, and energies just to mention a few. Also Land Prime offers trading podiums such as the MT4 and MT5. These trading platforms come with over 30 analytics tools that help new traders to navigate the financial markets. They also come with technical indicators, timeframe options and customizable indicators.
Advantages and Disadvantages of Trading with Land Prime
Advantages
DisadvantagesBenefits of Trading with Land Prime
Whether you’re new to trading or have been an expert in the field, Land Prime has tons of benefits for all types of traders. To start with, Land Prime provides novice traders with a demo account that is characterized by various tradeable assets, varying leverage and rapid execution. The demo account helps traders navigate the financial markets, familiarize themselves with the trading strategies and economic calendar, and helps them get a better understanding of how Land Prime analyzing tools work.
Land Prime provides its traders with a variety of trading platforms, which include the MT4, MT5, Mobile and MultiTerminal. The MT4 platform provides traders with 30+ analyzing tools, 50+ customisable indicators, supports 30+ languages and algorithmic trading. It also supports copy trading for those with an activated ZuluTrade account. The MT5 platform is known for its advanced algorithmic and multi-threaded trading capabilities. Land Prime has additional features such as the Fix API which helps improve execution times and latency.
Another benefit of trading with Land Prime is that it’s a regulated and licensed brokerage platform. The Grenadines and St Vincent branch is regulated by the Finance Service Authority. The UK Finacial Conduct Authority regulates the UK and EU branch. It allows Land Prime to offer its services within the EEA. The UK branch is part of the Financial Services Compensation Scheme which compensate traders up to a maximum amount of $50,000. Land Prime UK is also part of the Financial Ombudsman Service which solves disputes between the broker and the trader.
Land Prime Pros and Cons
Pros
- It has a free demo account
- It has a PAMM trading system
- It supports copy trading
- Supports social trading
Cons
- Does not offer enough educational materials to traders
- Does not allow access to traders in the United States, Cuba, Sudan, Korea and Syria
Land Prime Customer Reviews
Customer reviews are helpful in that if one doesn’t have time to go through a broker’s trading platform, they can check on how pleased other customers are from their reviews. From the top customer reviews, one trader is pleased and says Land Prime has an outstanding customer care system. They had experienced some technical challenges and the Land Prime’s customer care immediately responded and solved the issue. The customer care personnel was patient and courteous through the entire process which was successful.
The 2nd trader is happy they have been trading with Land Prime for over two months and have not experienced any issues in terms of money transfer and client management. He gives Land Prime a five star for their good services. The last review was on a client that was not pleased on how the broker conducted its services. He says the broker did not provide research materials that could have given him a better understanding of the broker’s partner.
Is Land Prime a good forex broker? According to most customer reviews, the broker has the good and bad side. It is up to the traders to test its platforms, features and tools to check whether it meets their desired qualities. From such an analysis they can decide whether Land Prime is good or not.
Land Prime Spreads, Fees, and Commissions
When trading with Land Prime, I’ve noticed their spreads, fees, and commissions are quite competitive. For standard accounts, spreads start from 0.9 pips on major currency pairs. This is great for minimizing trading costs, especially for high-volume traders. The ECN accounts offer even lower spreads, starting from 0.0 pips, but they come with a commission of 0.35 pips per lot, which is fairly reasonable for those needing tighter spreads.
Regarding fees and commissions, there are no deposit or withdrawal fees, which is a significant advantage. This feature simplifies managing funds and reduces overall trading costs. However, there is a catch with the ECN account that requires a minimum deposit of $2,000, which might be a barrier for some traders. For those adhering to Islamic finance principles, Land Prime offers a swap-free account option, although it carries a commission of 0.3 pip per lot.
The trading platforms provided, MT4 and MT5, are robust and user-friendly. This ensures a seamless trading experience across various devices, including mobile and web-based platforms. Additionally, Land Prime’s customer support is available 24/7 via email and phone, responding promptly to inquiries.
Account Types
There are three types of managed accounts offered by Land Prime. Below is an overview of each account.
Standard Account
- Minimum Deposit: $10
- Spreads: From 0.9 pips (EUR/USD)
- Leverage: Up to 2000:1
- Commission: $0
- Features:
- Ideal for normal traders
- No commission fees
ECN Account
- Minimum Deposit: $1000
- Spreads: From 0 pips (EUR/USD)
- Leverage: Up to 1000:1
- Commission: 0.3 pips/lot
- Features:
- Suitable for professional traders
- Lowest real-time spreads and low fixed fees
Copy Trading Account
- Minimum Deposit: $10
- Spreads: From 0.9 pips (EUR/USD)
- Leverage: Up to 500:1
- Commission: $0
- Features:
- Abundant liquidity
- Optimal environment for leaders and followers
How To Open Your Account?
For those ready to take their trading to Land Prime platform opening an account on this platform is a straightforward process. Note that, you must be 18+ years to be considered and from an authorized country. For the process to commence you’ll be asked to provide your personal details such as your name, identification number, email address and phone number.
Whether you’re opening a standard, ZuluTrade, demo or an ECN account the opening process is the same. Here’s a detailed procedure on how to go about it.
- Visit Land Prime official website
- Select your preferred trading account
- Choose your currency
- Provide personal information
- Go through the terms and conditions and agree
If you encounter any challenges while in the process contact the Land Prime customer support and ask questions based on the queries you have. Once your issue has be rectified make a deposit, choose your preferred asset and start trading.
What Can You Trade on Land Prime
When choosing a broker, one of the most important factor to consider is what you can trade on. The goal is to choose one that allows you to expand your portfolio to a level greater than no other. Land Prime is an excellent choice! The broker provides a wide range of complex instruments to trade on, including forex, stock indices, commodities, CDFs, and futures.
Regarding forex trading, one can trade on over 67 forex pairs on the MT4 platform that include exotic, major and minor currency pairs. The major pairs are the mostly traded with a high liquidity level in the forex market. Examples include EUR/GBP, GBP/JPY, and EUR/JPY. Due to their high numbers of sellers and buyers, major pairs are known to have tight spreads. For minor pairs the currencies include GBP, JPY, AUD, CHF, CAD, NZD and the USD. Exotic pairs have a lower liquidity level and hence the high spreads as compared to other pairs.
Land Prime has a variety of CDFs including metals, oil and indices. For metals, one can trade on gold and silver which are known to have very high competitive spreads. In the oil sector you can trade on brent and crude oil only. For the indices some examples include the German 30, CAC 40, Wall Street 30, UK 100, Nikkei 225, and US Tech 100. Note that Land Prime does not charge commissions on indices.
Land Prime Customer Support
Majority of customers have testified that Land Prime has an excellent customer support system. In case of any queries you can contact them via email, phone or live chat. The phone line are available from 9:00 Am to 5:00 PM (Monday to Friday) depending on your time zone.
The live chart system is available 24/7 even during the weekends. For clients who want to reach the EU and UK branch the contacts are:
- Telephone – +44 203 735 9155
- Email – [email protected]
The contacts for the global branch are:
- Telephone – +63 2 776 7086
- Email – [email protected]
The Land Prime customer support has a tech team that is ready to help in solving technical issues for example if you’re having issues logging into your account or have questions regarding the trading platforms.
Advantages and Disadvantages of Land Prime Customer Support
Security for Investors
Withdrawal Options and Fees
Profit withdrawal methods at Land Prime are reliable, safe and straightforward. The broker has various withdrawal options where one can choose the best that meets their needs. Some of the withdrawal options include back transfers, credit cards, Neteller, Sticpay, Skrill and debit cards.
Please note that the transaction process may differ from one payment agent to another. For example, withdrawals made through debit and credit cards are instantly processed while those made via payment agents may take several business days. On average, the processing period may be done instantly done or take up 2 to 3 business days. Note that Land Prime payment options may differ depending on a trader’s country.
It is important to note that Land Prime does not charge any withdrawal fees. The fees and commissions are incurred depending on your preferred payment agent. Different payment options have different withdrawal fees and also have a designated minimum and maximum withdrawal request that one can transact.
Land Prime Vs Other Brokers
#1. Land Prime vs Avatrade
Comparing brokers gives an insight of their platforms, features and tools and with a better understanding of both, one can choose one with desirable trading standards and styles. Comparing Land Prime with Avatrade in terms of instruments they offer, Avatrade outdoes Land Prime. Avatrade offers its clients instruments such as CDFs, forex, stock, volatility index, crypto and options while those of Land Prime include commodities, forex, indices and CDFs only.
Avatrade has a wide range of payment methods compared to Land Prime. Examples of payment methods offered by Avatrade include bank wire transfer, Skrill, Switf, Western Union, Boleto, MoneyGram, WebMoney, Fasapay, etc. Land Prime payment methods include Mastercard, Neteller, Skrill, Sticpay and Perfect Money.
Avatrade have proven to take their forex trading to higher levels by introducing forex mobile apps. The have a mobile trading app (AvaTradeGo) which offers clients with over 1000 markets to trade on. Land Prime offers forex trading but it does not have forex apps. Clearly, Avatrade outperforms Land Prime in many sectors even it terms of customer ratings. Avatrade has a rating of 4.9 while that of Land Prime is 3.6.
#2. Land Prime vs Roboforex
Roboforex is an online broker offering its clients a variety of tradeable assets to diversify their portfolios. At Roboforex you can trade on cryptocurrencies, shares, commodities, forex, cryptoindices, ETFs, CDFs and indices. At Land Prime you cannot trade on shares, cryptocurrencies, cryptoindices and ETFs.
Both brokers have received awards but Roboforex has many awards compared to Land Prime. Example of Roboforex awards include Best Global Mobile Trading App 2020 – Global Forex Awards B2B, Best Stock Broker Asia 2019 – International Business Magazine Awards, Best Broker of the CIS 2019 – IAFT Awards, Best Investment Platform 2019 – IAFT Awards, Best Investment Products 2019 – Global Brands Magazine, etc. Land Prime main awards include Best CFD Broker Europe 2019 – IBM, Most Trustworthy Forex Broker 2017 – IIFE, Best Trading Broker 2018 – GFDC, Best Retail FX Broker 2015 – FXIS and Best Forex Broker in Asia 2016 – CGIIF.
Roboforex outdoes Land Prime in sectors such as the instruments offered, number of trading platforms, leverage rate, minimum deposit and overall customer rating.
#3. Land Prime vs Alpari
Land Prime is regulated by the Financial Services Authority (FSA) in St. Vincent and the Grenadines, while Alpari is regulated by multiple financial authorities including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
Land Prime offers five types of trading accounts with varying minimum deposits, spreads, and leverage options. Alpari offers six account types, including a demo account, a standard account, and different types of premium accounts with varying features and benefits.
Land Prime offers 24/5 customer support through live chat, email, and phone, while Alpari offers 24/7 support through multiple channels including live chat, email, phone, and social media. Overall, both are good brokers but Alpari outperforms Land Prime in all the services including spread betting.
Conclusion: Land Prime Review
This Land Prime review has shown that Land Prime is a reputable online forex broker that offers competitive trading conditions, a range of account types, and a variety of trading platforms. With its strong regulatory framework, traders can have confidence in the security and transparency of their trading activities.
The broker also offers excellent customer support and analysis tools/resources to help traders improve their skills and knowledge. While there are some areas for improvement, such as expanding the range of trading instruments and account types, overall, Land Prime is a solid choice for traders looking for a reliable and trustworthy broker in the highly competitive forex market.
Land Prime Review FAQs
Is Land Prime regulated?
Yes. The broker is a trusted global fx regulated by various international bodies such as the Finance Service Authority, the UK Finacial Conduct Authority, the Financial Services Compensation Scheme and the Financial Ombudsman Service.
What is Land Prime minimum deposit?
On average the minimum deposit is $300 but it may vary depending on your account type. For example the minimum deposit of an ECN global account is $2000 and that of the UK & EU ENC account is $5000.
Does Land Prime charge withdrawal fees?
No. Land Prime does not charge any withdrawal fees. Withdrawal fees are only incurred depending on your transaction agent. Remember, each agent has a different withdrawal fee from the other.
