Today we will review one of the Russian home-brewed brokers, by the name of Larson & Holz. Given that the Russian and CIS market has traditionally been one that was historically plentiful in scam and market makers, we were very cautious when approaching this company. Let have a more detailed look.
Country of residence, physical address: Saint Vincent And The Grenadines, The Fnancial Services Centre Stoney Ground, Kingstown, VC P.O.BOX 1823
Broker Dealing Type: NDD/ECN
Forex Peace Army Rating: n/a
Average Spreads: Floating spreads and commissions
Supported Trading Platforms: MetaTrader 4, MetaTrader 4 Mobile.
VPS service: No
Deposit options: All major credit/debit cards, Wire Transfer, Skrill, Neteller, Webmoney, Paypal, Yandex.Money and several others.
Withdrawal Options: Wire Transfer, credit/debit cards, Skrill, Webmoney, Neteller
Larson & Holz IT Ltd declares to having operated in the FX market since 2004 (we weren’t able to verify this information, as while the number does sound impressive, we haven’t heard of this broker before). They do seem to have a FSC BVI (Financial Services Commission) license, and incorporation in Saint Vincent and Grenadines, which does sound better than nothing.
While we’ve found that this broker tries to offer a lot of instruments (and even several markets, such as binaries), the platform choice is somewhat limited, offering only Meta Trader 4 and its mobile version.
Here are the core account types:
Start – a choice tailored for customers that want an easy, low deposit start in trading, mostly new to the venue. Also good for testing the brokers execution and withdrawal policies. 😉
- Minimum deposit: 250$
- Minimum lot size and increment: 0.01 lots
Standard – Good for more aggressive trading.
- Minimum deposit: 1 000$
- Commission: 1$ per 100 000
- Deposit interest: up to 5% yearly
Safe – The choice of swing traders.
- Minimum deposit: 10 000$
- Commission: 1$ per 100 000
- SWAP: none
- Deposit interest: up to 10% yearly
Non Deposit – an account type with no minimum deposit limitation.
The average spread for majors is 1,4 -1,8 pips and the maximum is 5,0 – 7,0 pips, which is quite steep.
Overall, the various account types are solid, but we highly recommend you to make sure to read the fine print – while interest rates on account deposits are something that we have seldom seen before, they, and any accompanying bonuses can easily be bound with a condition that will limit your ability to withdraw later.
There’s also an institutional (VIP) account type, for customers with deposits above 50 000 USD, which entails access to a personal manager to take care of you support and other questions.
What seems to be very well developed with Larson & Holz though, are deposit and withdrawal options. Those are plenty and good, and the company is obviously happy to take care of your deposit through any funding option imaginable. As usual with brokerages of this type, we highly advise caution – while some of their offerings may seem very enticing, make sure to do your homework, and make the decision with responsibility.