LegacyFX Broker Reviews and Full Information

What is LegacyFX?

LegacyFX is a multi-asset trade specialist that provides brokerage services for CFD and Forex trading in oil, gold and cryptocurrencies, as well as indices, and major stocks, worldwide for traders around the world since 2017. LegacyFX is GDPR-compliant and is fully controlled through CySEC FCA as well as BaFin which has the primary objective to increase transparency in the financial sector and provide greater protection to clients. The trading conditions of LegacyFX are among the most tight spreads on the market that start at 0.6 percent.

The broker provides over 200 instruments for trading. LegacyFX provides its customers with MetaTrader 5. Legacy FX gives the keys to the market for forex all day all week long which allows customers to trade most sought-after major minor and exotic currency pairs. To protect investment assets completely, LegacyFX offers protection against negative balances and the complete separation of funds from clients from the assets of the company.

Pros

Cons

Broker with a good track background and established under European law

Conditions differ based on the regulations of brokers

They are protected against negative balances and are segregated from company assets

High Minimum Deposit

Mainstay of the customer-friendly MT5

We do not accept customers from U.S. or Canada

Free account for swaps available to all customers

 

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10 Points Summary

Headquarters

Cyprus

Regulation

CySEC, FCA, BaFin, VFSC, NBRB

Instruments

Shares, Indices, Forex, Commodities and Cryptocurrencies and CFDs

Platforms

MT5

EUR/USD Spread

0.6 pip

Demo Account

Included

Base currencies

There are a variety of currencies available

Minimum deposit

500$

Education

Videos, Trading platforms guides, courses, eBooks

Customer Support

24/5

 

Is LegacyFX secure or is it a fraud?

In the case of trading online security is the most important aspect to ensure that your money is secure and protected by law-enforcement regulations.

Pros

Cons

Regulated by a variety of Authorities Cyprus CySEC, Financial Conduct Authority FCA

International Proposal executed by an offshore entity

Negative Balance Protection

 

Is LegacyFX legit?

LegacyFX is a trademark associated with A.N All New Investment Limited. A.N All New Investment Ltd. which is licensed and regulated by CySEC an authority for regulation that regulates Investment Services firms in Cyprus as well as licences for cross-border transactions due to its European position, which permits the company to offer investments services in the EEA zone.

In simple terms this means that the broker establishes their business in accordance with the laws that are necessary and operational principles that are ultimately aimed at protecting the clients and to ensure integrity of the market.

Nevertheless, an international proposal running through additional license in Vanuatu, or AN ALL NEW INVESTMENTS (VA) Limited under the domain https://int.legacyfx.com. The terms of trading in this case are different from those in different laws and rules. It's always risky to trade in offshore areas and it is important to mention that trading with an All New INVESTMENTS (VA) Limited subsidiary isn't secure.

But, as always, we advise, make sure to read the regulations attentively and never sign up using an offshore-only authorized broker (read more about the reasons to avoid trading through offshore broker).

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How can you be protected?

Because LegacyFX license signifies conformity to all rigorous regulatory requirements, the trader's investment is considered secure as the broker separated the funds from the operating funds of LegacyFX as they were kept in the top and trusted EU banks.

Additionally, CySEC regulatory standards fully conform to those of the European MiFID directive which allows LegacyFX to offer its services in the EEA zone and even beyond. The primary goal in MiFID is to contribute to creating a more integrated, more efficient and deeper the creation of a growing capital market as well as enhancing the protection of investors. But, this type of regulation doesn't allow LegacyFX provide its services to brokers whose business is not controlled.

 

Leverage

Leverage, also known as a loan granted from the broker's side to the trader allows you to trade using the multiplied volume , which can boost your earnings but in the reverse, it raises the risk. Therefore, you must first know how to use tools effectively, as well as different standards of regulation and restrictions establish a certain maximum amount of leverage considered as safe.

LegacyFX Reviews shows that brokers have their leverage ratios set to a minimum limit for European traders as ESMA severely restricts any leverage use by retail traders. Thus, the maximum limit is set at the level of

  • 11:30 to major currencies
  • A global LegacyFX traders could be eligible to the larger amount that could be up to 1:200.

Also, never forget to learn to utilize leverage wisely to avoid be a victim of inefficient risk.

 

Account Opening

Pros

Cons

Fast digital account opening

The types of accounts and proposals for them may differ depending on the jurisdiction.

Islamic Account

 

Demo Account

 

Types of accounts

The account types include three kinds of account offered by LegacyFXThe three types of accounts are Platinum, Silver and Gold. Each account comes with favorable trading conditions, and are available services. However, a higher grade accounts will come with additional advantages.

Its Gold account can be opened with an lower deposit amount of just $500 with the lowest difference of 1.6 percent. It is decreased to 1.0 pip for the Gold account for an initial deposit of $5,000.

Each type of account provide a specific opportunity to your trading strategy, while also permitting novice investors, traders or professionals to discover their own path to trade.

Islamic Account

LegacyFX is a type of account that LegacyFX Islamic account is a adherence to the rules of Islamic law regarding banking activities in addition to Riba (interest). It is an interest-free or swap-free account for those who due to religious reasons, are not able to trade on accounts that incur interest or swaps. But, account holders can still avail the advantages of all Account Types provided by LegacyFX and their identical spreads and trading conditions.

Demo Account

LegacyFX demo accounts permit clients to experience the platform and services offered by the broker and strategies for trading without risk by using virtual money.

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Instruments

LegacyFX offers seamless trading using the vast variety of base assets, and you can select from top Shares, Indices, Forex, Commodities and Cryptocurrencies and CFDs.

So, having access to the largest and most liquid popular markets , you can pick the most suitable and logical instrument that meets your trading needs and utilize BDSwiss's user-friendly interface to profit from trading.

 

Fees

LegacyFX has one of the lowest spreads offered by dealers beginning at 0.6 pip.

There are no rollover fees on long-term transactions, security against negative balances Client funds are distinct from LegacyFX's fund.

Swap Free on all LegacyFX Account Types (Silver, Gold, Platinum). LegacyFX doesn't charge swaps on positions that are long-term and provides the best conditions for long-term investment and trading. For complete protection of investment LegacyFX provides protection against negative balances and the complete separation of funds from clients from company assets.

Pros

Cons

Flexible fee terms defined by the type of account

Transfer fee for withdrawal

Variable spread

 

Find out more about Forex charges

Naturally, the spreads fees are determined by the type of account you choose to use. Spreads with variable spreads for major currency pairs like EUR/USD begin at 1.6 pip when using accounts that use the silver account. Spreads become more tighter for accounts like the Gold as well as Platinum accounts, and drop to 0.6 percent. Fixed spreads range from 3 pips on EUR/USD when using accounts that use Silver.

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Deposits and Withdrawals

Another important aspect in this LegacyFX review is how you can transfer funds to or from the trading account. All managing your account is handled through an online system. LegacyFX allows you to complete the transaction using major credit or debit cards, Skrill, Neteller and Bank Wire Transfer. The methods of payment vary according to the company you trade with.

Pros

Cons

No deposit fees

Conditions differ based on the organization

Digital deposits that are fast and convenient, such as Neteller as well as Credit Cards

High Minimum Deposit

Is there a minimum deposit amount for LegacyFX?

For the minimum amount to deposit for the Silver account, the Silver one at LegacyFX is required to deposit 500dollars to begin however other accounts have greater amounts of deposits as initial deposits. The good thing lies in the fact that LegacyFX doesn't charge fees for electronic wallets and credit cards also,yet may vary from rules to one another.

Withdrawals

When you make the request to withdraw funds from your account, the account department at LegacyFX usually processes and confirmed withdrawal within three business days.

In regards to transfer charges Be sure to review details with the provider of payment and broker, as different countries may have different rules as per international regulations. In the end, LegacyFX defines no fee for withdrawals using Bank Cards,but charges 50$ for wire transfer withdrawals.

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Trading Platforms

The software offered by LegacyFX is the primarystay of the The MetaTrader5 platform, which offers an extensive trading feature as well as numerous options. This isn't an issue, since MT5 is an industry-wide user-friendly platform that lets you trade anytime and anywhere with the latest instruments for charting, as well as indicators to help manage risk and greater potential to predict the direction of price.

Pros

Cons

Software for users that is user friendly

There is no trading alternative

Mainstay on MT5

 

Versions that are suitable for Web mobile, desktop and trading

 

Multilingual support

 

Web Platforms

Trade Forex CFDs and Forex on CFDs and Forex on the MetaTrader 5 Web platform, without download or installing any program. It is possible to make trades with the Forex market using any operating system and browser that has Internet access.

Desktop Platform

MetaTrader5 Desktop is designed to optimize and monitor the entire process of trading with a variety of features. MetaTrader5 is an institutional multi-asset trading platform with amazing trading options and advanced analysis tools. Investors can take advantage of the most up-to-date edition of the well-known trading platform, with a variety of modern features and benefits offered by LegacyFX.

Mobile Platform

LegacyFX Mobile Platform is accessible on both Android and IOS and lets traders put in eight kinds of pending order types to have more oversight of positions that are open. MetaTrader5 allows trading of crypto with a variety of brand new and distinctive crypto-related features. Mobile MT5 is a simple method to open a brand new trade by a single click. It also offers additional tools to help you with your technical needs that let you choose between more than 21 charting timeframes and nine other techniques to structure charts.

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Customer Support

Support is available 24/7 customers can contact us via email, phone support, or talk to support through live chat. Support personnel are proficient with English, Arabic, and Russian. The broker cares about its clients and is happy to assist with any general, technical and account-related questions you might be able to answer. They also value feedback on how they can improve their support for traders.

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Pros

Cons

Support for customers of the highest quality

Support is not accessible 24/7

Live Chat

 

Multilingual support

 

 

 

Education

LegacyFX traders will discover a range of instructional videos and tutorials on trading platforms and courses. They can download complete ebooks covering a variety of topics and expand their knowledge with webinars taught by experts in the field. Additionally, LegacyFX provides advanced trading tools and analysis, and also offers daily market research.

The broker also offers:

  • a wide array of classes and tutorials that cover all levels, from novice to experienced traders.
  • live webinars that examine the most important market events and exploring different methods;
  • regular analyses and market studies from leading financial experts on currencies stocks, commodities, and much more;
  • Financial trading tools, such as an glossary, economic calendar and calculators that aid in trading.

 

Pros

Cons

Free Demo account

None

Education for the future with videos, webinars, and Webinars. Calendars

 

A wide selection of trading tools

 

Economic Calendar and Market News

 

Conclusion

Overall the LegacyFX review reveals the world's largest brokerage company, with a long-standing customer-focused service that provides a safe and maintained trading conditions that are suitable for virtually every requirement.

It is one of the market's most promising brokers. It has and has been recognized as a pioneer within the retail market during the past few years. LegacyFX is MiFID compliant and is regulated through CySEC, VFSC, and the National Bank of the Republic of Belarus (NBRB). The broker generally has a perfect record in the field of regulation in addition, its disclosure is flawless.

In addition that, the principal instrument and an extremely effective one within the LegacyFX business plan is education which draws new traders and provides the opportunity to both sides. This is in addition to its well-established social responsibility as well as other events they frequently hold.

Summary
Properties Values
Name
LegacyFX
Minimum Diposit
$ 500
Leverage
1:30 | 1:200
Regulation
CySEC, FCA, BaFin, VFSC, NBRB,,,,,,,,
Headquarters
Cyprus
Established
2012
Address
Govant Building, Kumul Highway, P.O.Box 1276 Port Vila, Republic of Vanuatu
Platform
MT5,MT5 Mobile,,,,,,,
Payment Method
Visa,Mastercard,Wire,Western Union,Skrill,Neteller,Maestro,,,,,,,
Overview
Properties Values
Spreads
0.6 pips
Min Position size
0.01
Broker Type
STP (Straight Through Processing),,,,,,
Account Type
Mini account,Scalping,High Leverage,Standard,,,
Brokers by Country
US Forex Brokers,Asian Forex Brokers,,,
Techniques
Scalping Forex Brokers,Spread Betting Brokers,Automated Trading Brokers,Mobile Trading Brokers,,,,,,,
Instruments
Gold Trading Brokers,CFD Trading Brokers,Crypto Trading Brokers,Stock Trading Broke,Oil Trading Brokers,Metal Trading Brokers,Indexes Trading Brokers,,,,,,,
Account currency
USD,EUR,GBP,CAD,XAU,JPY,BTC,,USD,,USD,
Tools
Economic Calendar,Charting Software,Margin Calculator,Profit Calculator,,,
Website Languages
en,,,
Support languages
en,,,
Bonus
Yes
Reviews Rating
4.3
Withdrawal Fee
No
Trading Signals
No
Free Education
Video lessons, Trading platform guiding tutorials, Courses, eBooks
Daily News
No
Demo account
Yes
Swapsr
Free
Pors
1. Regulated by several authorities Cyprus CySEC, Financial Conduct Authority FCA
2. Negative Balance Protection
Cors
1. International proposal performed with offshore entity
Display Analysis
Yes
Serving country
CY,VU,,,
Not Serving country
IN,IR,IL,JP,US,,,
Contests
Yes
Market analysis
Yes
Copy Trading Brokers
Yes
Bitcoin Forex Brokers
Yes
Social trading
No
Web trading
Yes
Forex pairs
No
CFDs
Yes
Crypto
Yes
Hedging
No
PAMM
Myfxbook Auto trade,Mql5 signals,,,
Mobile Trading
Yes
Scalping
Yes
Automated Trading
Yes
Partnership Programs
Yes
Free Phone
+41315087455
Customer Support
24/5
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