Latitude FX

Latitude FX

Latitude FX - Forex Broker

Broker nameLatitude FX
Company nameLatitude FX
Online since2007-01-01
Site urlhttp://www.latitudefx.co.nz
CountryNew Zealand
Minimum account size1000.00
Minimum account size currencyUSD
Minimum position size0.100000
Maximum leverage100
Maximum leverage description1:100
Spread levelmedium
Spread description2 pips on EUR/USD
Is regulatedYES
Regulation descriptionRegulated by the financial laws of New Zealand and audited by PriceWaterhouseCoopers.
Easy registrationYES
Votes count23
Rating4.90
Email

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Advantages

  • Both browser-based and MetaTrader 4 trading platforms are available.
  • Tight regulation in New Zealand.

Disadvantages

  • Only New Zealand citizens may trade through Latitude FX.

Payments

  • Credit cards
  • Wire transfer
  • cash
  • checks

Categories

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2 Reviews

  1. Gary Lay:

    When I was going to open an account with them, they told me that they do not have a dealing desk. However, this is lie. After I lost with a half of my money, I asked them again about whether they had a dealing desk. They told me that I have not proofs that they had a dealing desk and if I had problems with them, I could go to other business. So, this is that I did. They could initiate Stop Loss with no reason. I tried to place some orders but they did not go through. Same problems when tried to close my orders. I would receive a message asking me to try again. Surely, if you cannot close your order on time, you will lose much money. I am very unhappy with this company. I will not trade with them again.

  2. Paul Stevenson:

    I opened my demo account with them at the beginning of December. I cannot recall the exact date, as I have deleted all the information. I am an experience trader with 25 years of experience in trading and 8 years of experience in Forax trading. I have traded with such brokers as IB, Apari, IbFx, MF Global, and Saxobank. The last one was not really honest, so I decided to try out Latitude. I asked them about their spreads and why I could not find them on their website. They told me that that was because spreads tend to change. This was new for me, as all the brokers I used to trade with have them fixed. This is essential as you need to conduct proper calculation. All traders know that during the new times spreads can get wider. I strongly believe that Latitude is not there to support the client’s interests. I have recently moved myself to New Zeeland and have been looking for a reliable local broker here. This is why I wanted to test their demo account.
    I have experienced three quite unpleasant things with them.

    1. One of my stop loss orders on EJ was initiated before trend went down. The situation did not happened to my live IBFX account for the same orders.
    2. There was stop hit of my NZDUSD which was not on my live IBFX account.
    3. CADJPY order was placed without any reasons. I was surprised to find the trade that I had never initiated.

    I have been using their demo account with deposit of $5000 and could make a profit of about 75% (about $7500) during first 10 day. I must say, you could have made more if there was no problem with EJ as well as other issues. The biggest loss that I have experienced was with the trade of
    CADJPY. Because of this I have lost $5200. I was also getting the stop hunt on NZDUSD. I followed how it happened. There was no such stop loss on my live account with IBFX. I cannot get why they apply such stop hunt on their demo account. It must be because they change spreads often.

    So, I had a chance to make sure how it all works and I think that there is something wrong. If you have a live account with this company, I advise you to stay away from them.

    Paul Stevenson

    Pro Trader

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