Are overseas FX brokers LandPrime and Land-FX refusing withdrawals? This article explains their reputation and whether they are safe. Many traders trade every day. However, if you violate any prohibited items, you will not be able to trade, so be careful. This article summarizes the prohibited items, so I hope you will find it useful.
Are there any prohibitions in Land-FX?
The following prohibitions are imposed on Land-FX. Some people violate the rules because they do not want to incur large losses in trading and want to protect their funds. Some people violate the rules because they value short-term profits. Rules must be followed in the services provided. If you are planning to hold a position by entering a lot, please be aware of the following points before investing. This information is also officially available for free. It is a popular broker with more campaigns than domestic brokers, making it a top-ranked broker.
arbitrage
Arbitrage is prohibited. Arbitrage is a trade in which profits can be made by targeting price differences. Arbitrage is prohibited by most FX brokers. That’s why it’s best not to do it at all. It is also listed on the official website of the company.
Double denominated with other brokers
Double-denomination is prohibited if it is used in conjunction with another broker. Both denominations within the same account are permitted. This is clearly stated in the terms of use, so be sure to check it. In the case of Land-FX, zero cut is also adopted, and there is no margin call, but there are cases where zero cut is not adopted due to violation.
Transactions that put a load on the server
If you intentionally overload the server, such as by making too many trades in a very short period of time, you will also inconvenience other users. Such actions are prohibited. Trading aiming at delayed rate is also no good. Please be careful about trades that cause overload by holding a large number of positions using automated trading (EA) tools.
Abuse of bonuses
The definition of what constitutes abuse is ambiguous, and I feel like it’s left to the official support’s discretion, but if you get it even though you don’t have the right to it, you’ll be subject to penalties. You can make a lot of money by taking advantage of high bonuses, but there are a lot of risks.
Trade aimed at opening windows
Window opening is the price difference that occurs on Mondays. Trading content aimed at opening the Monday window is also prohibited. From experience, this is because the move that fills the window generally occurs, so you have a high probability of winning by doing this. This would be an illegal transaction.
scalping
Scalping is OK. Scalping is a trading method that allows you to make payments in a short amount of time. But this is fine. In fact, scalping targeting economic indicators is also allowed. Since you will be using it for large orders, you will need to be careful about your margin balance. We recommend an ECN account with good specs, but you may lose a lot depending on the market price. The reason is that it moves extremely large.
automatic trading
Normal system trading (automatic trading) is also no problem. However, if there are too many buy or sell orders during automatic trading, it may put a load on the server, which may be considered a prohibited act under the rules, so please be careful. . At the very least, when economic indicators are announced, the market moves a lot, so please stop using MT. If you don’t have the knowledge, you’ll be missing out a lot.
Hedge
Currently, there are restrictions on long and short positions. It is not OK to do anything, so you need to be careful. It is recommended to start with a small amount to ensure risk management. To play safely with LandFX, keep the overall amount and lot size in mind. There are no bad rumors about contracts when using it, so you don’t have to worry. Here is an overview of the restrictions so that even beginners can understand.
Both denominated in the same account
There is no problem with denominating both in the same account.
Comparison between different companies
Land-FX prohibits the use of multiple FX brokers. However, there is a question mark as to how it will be discovered, but it is prohibited.
Double-denominated multiple accounts
Land-FX allows you to create multiple accounts. Under such circumstances, it is prohibited to make full use of multiple accounts to trade in both currencies.
Penalties for violations in FX trading
If you violate the prohibitions and commit a violation, you may be penalized as follows. Try negotiating with the support center. Investors cannot reset their account freezes themselves, and must have someone do the procedure for them. Basically, if you know of any that apply to you, contact them as soon as you know them. You should get a clear answer. If you don’t want to be restricted by currency pairs, etc., play it safe. It is highly reliable even in Japan. Look at the situation and environment and play it safely.
Freeze account
A frozen account means that you cannot even log in to Land-FX in the first place. If you are unable to connect due to an error and cannot use certain functions, that’s the end. Once this happens, there is nothing you can do. You will have to negotiate with the support center and have them process the cancellation.
account freeze
Account freezing will only freeze the specified account. In this case, you will not be able to make deposits or withdrawals, so you will not be able to withdraw money. You will have to negotiate with the support center to have it lifted. If you want to open a new account, you will of course need to submit your ID (passport, driver’s license) and address verification documents (resident registration, statement, etc.) to the operating company again.
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