Larson&Holz – independent review of the famous broker
We all know perfectly well how technical support works in brokerage companies. Usually, when we receive a request, we have to wait from several hours to several days. But what about the fact that we need an answer now? Typically, technical support refers to the congestion of the communication line, or limited staff. But we were interested in the request for technical support from Larson&Holz. Surprisingly, the answer came in a few minutes. Think about it, not in a few hours, or days, but minutes. This is one of many advantages that positively characterize the brokerage company. We decided to ask a few questions about the work of Larson&Holz. And they got answers to them. Let’s consider several answers received for the questions asked by us.
The first question concerned the input of funds, and the withdrawal. As it turned out, all the replenishments made through the bank card, electronic payment systems and payment system aggregators are made in automatic mode, and the balance falls within two or three minutes. The same happens when withdrawing funds from the balance sheet, and further withdrawal to the purse or card indicated in the application. As for the bank transfer, the funds are credited to the balance within three days. Well, the withdrawal of funds by the same bank transfer is made within 5-7 days. But usually it takes a maximum of 3 banking working days, not a day. It takes into account the time of the bank. Many are interested in the question of whether it is possible to withdraw funds to other payment systems, if you used a card or an aggregator of payment systems. In principle, the withdrawal to other payment systems is possible, if the details of the system are specified in the settings of the personal cabinet. But according to the rules, it is necessary to take any actions. It’s a trade, or a time limit. If trading is conducted, then you need three lots to withdraw funds. These restrictions do not apply only to bank transfers. They are considered an exceptional moment. Why did the company set such a condition. The rule was established after some clients of the brokerage company Larson&Holz began using the company as an exchange office. That is, money was introduced from one payment system, and then immediately withdrawn to another. They even did not embarrass the commission. After all, it was less than in exchange offices. After that, the temporary restrictions between the entry and withdrawal of funds entered into force. As for the maximum allowable amount for withdrawal, it is equal to 200 dollars. This amount can be withdrawn once a day. It is necessary to remember that the withdrawal of funds is made only after full verification of the personal cabinet. This is either the download of scanned documents, or confirmation of identity at any of the nearest partner centers or offices of Larson&Holz. After that, all restrictions on the withdrawal are removed. Verification of the personal cabinet can be done at the time of registration, or later, when processing an application for withdrawal.
The next question, which is relevant for each client, is the minimum possible deposit. For example, on the start trading plan – Start, the minimum deposit is only $ 250. This is the minimum possible amount. The minimum volume for this plan is 0.01 lot. This means that having only $ 10 on your account, you can already trade. The only question is the seriousness of this approach. After all, 10 dollars exist before the first specific drawdown. And drawdown, in any case will be. In fact, as we explained in the company, trade can begin with any amount. But you will agree, the minimum deposit, together with the minimum lot, is, to put it mildly, not the approach. Therefore, such a trading plan is ideal for testing a trading strategy or system, rather than for a serious trade. Well, traders who decided to work seriously and earn, open trading accounts Standart or Safe. For a standard trading account, the minimum deposit is $ 1,000, and for Safe accounts, $ 10,000. Here you can turn around for serious work. In addition, on these trading plans, a bonus system operates. In full. Again, reduced commissions and many other preferences directed to one or another channel of trade. As for the maximum leverage of 1/500, the deposit range should be from 500 to 1,000 dollars. Up to 10 000 dollars, the trader is guaranteed to use the leverage of 1/200. The leverage is set individually for each trader. You can change it in the settings of your personal cabinet.
The next point about demo accounts. Every trader knows what these accounts are for. Well, who does not know, the demo account opens for a trial period of trading or testing of trading systems. The risk is zero, since the virtual account currency is virtual. That is, trading on this account, the trader does not lose anything, and does not acquire anything. In addition to knowledge, of course.
Well, the last moment, which is one of the important. Transferring money from one trading account to another, and switching from one trading plan to another. To transfer funds between accounts, in any case it is necessary to pass verification. This is a must. In addition, all open trades must be closed. If the conditions are met, there will be no problems. Well and as to transition to other trading plan, except for the above-stated conditions, it is necessary to address in technical support of company Larson&Holz. Only after the approved application, the transition becomes possible.