While doing this Larson&Holz broker review, we have researched how their accounts are set up and what they have to offer to their prospective clients.
Binary Options
A Demo Account is completely free and extremely easy to set up and start trading. All you have to do is download the software Rate Streamer, install it on your personal computer and simply register for the Demo on the website.
As per the website’s instructions, the opening of the account goes as follows:
- Clients need to choose the type of service they want
- Fill out the provided registration form
- Clients will receive an activation email
- Activate the account in the company’s system
- Signed client agreement.
- Provide and upload signed documents and passport copy
As can be seen, this broker has invested time into guiding you through the process of opening the account. However, while writing this review, we have had a first-hand experience of how easy and uncomplicated this procedure actually is. With that in mind, we are certain that traders will have no issues in this phase of their trading journey.
It is important to highlight that the documents can be provided later, however, until they are, traders won’t be able to withdraw any funds they have accumulated. The Real Account requires $250 Minimum deposit amount, which is pretty much the standard average deposit amount across the binary options industry. If you choose to deposit to your account via a bank transfer, it will take 2 to 3 days for the payment to be processed. However, if you choose to do it using a credit card or an e-wallet it is usually done immediately with no waiting time.
Forex
In addition to binary options, Larson&Holz focuses also on providing services for clients wanting to direct their trading to Forex, and have done so through enabling several different account types specifically for them.
Forex Classic
This broker has two account types for classic forex trading. One of them is Classical Account which, according to the website information, guarantees execution of the orders that are pending at the time along with a maximum spread limitation, regardless of the changes and conditions the market may be in.
The other account is referred to as NDD – Non-Dealing Desk. This is solely for highly experienced users and is not recommended for average traders.
Non-Deposit Forex Account
Non-Deposit Account enables traders to take advantage of a completely risk-free environment that Larson&Holz offer. This account functions as an already funded account ($100) which users can then use to trade without needing to deposit their own funds.
The process of acquiring and using this account is pretty straightforward:
- Register a Non-Deposit account
- Download MT4 and sign in
- $100 is already located on the account
- You can trade for 3 days or until you double the funds so you can continue trading
- After you have made a profit (minimum trading volume of 3 lots), you are welcome to withdraw it.
