LegacyFX Commission or Brokerage Charges – Review, Plans, FAQs & more

LegacyFX was established in 2017 and is registered and regulated by the Vanuatu Financial Services Commission VFSC, the Cyprus CySEC, and NBRB. Being a global forex broker, LegacyFX is regulated by FCA, UK, and BaFin, Germany.

Whenever you are trading with the broker you are offered to use over 200 financial trading instruments that include everything like FX, cryptos, stocks, indices, and commodities.

The registered customers are allowed to use the globally recognized meta trader food and meta trader 5 trading platforms that are available for desktop, web, and mobile devices.

The users can also use additional and premium trading tools like AutoChartist, various online calculators, and an updated economic calendar.

The company has developed various types of trading accounts and provides exclusive and one of the most competitive commission charges.

In this review, we will be discussing the various LegacyFX brokerage charges or fees.

LegacyFX Commission or Brokerage Charges

LegacyFX has developed various types of commission-free and swap-free trading services with the payable spread charges and various other administrative LegacyFX fees in specific cases.

The customers can also benefit from the fixed spread and the accounts that have variable spread charges.

Leverage

This is another word for the amount or the loan given by the broker to its customer that enables them to trade on various assets in multiple volumes that will help the customers increase their potential gains.

According to the standards of the ESMA, LegacyFX only provides leverage for all retail traders.

The maximum leverage is 1:30 for all the major currency pairs, however, for all the global leaders it may range up to 1:200.

• Stocks – 1:5
• Phoenix – 1:200
• Metals – 1:100
• Indices – 1:100
• Commodities – 1:100
• Cryptocurrencies – 1:5

Variable spread charges for all the major forex pairs such as EUR or USD begin at 1.6 pips and the spread LegacyFX charges get tighter with the higher types of accounts up to 0.6 pips.

The fixed spread charges are about three pips for the EUR or USD.

All the other assets are mostly LegacyFX commission-free. Only if the trader decides to trade in stocks, the commission charges range from 0.15% to 0.45% depending on the type of trading account or commission plan.

Additional LegacyFX fee

The positions that are held at the end of a trading week will be kept open and re-adjusted into the global forex market at the beginning of the next trading week.

The traders must know that the rollover fee or the swipe fee would be debited the next Wednesday. LegacyFX promises no swap fee or overnight fee on any of the trading accounts that they provide.

Bonus and Promotion

Safe mode program:

The Traders will have the ability to undo any losing trade, as long as they follow the rules and restrictions listed on the company website.

Refer a friend

All affiliates would be receiving a 10% bonus of deposit whenever they refer a friend to the company.

Zero Fees:

No LegacyFX fee on the deposits or withdrawals (The wire transfer has to be above $200)

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Types of LegacyFX Commission Plans

LegacyFX has designed and developed three types of trading accounts or LegacyFX commission plans which are the Silver trading account, Gold trading account, and platinum trading account.

So, what is a trading account?

A trading account is quite similar to your regular bank account.

However, with the trading account, you can use funds to buy shares or stocks or invest in various assets and thereby earn a profit after the assets have reached an estimated value.

A trading account is also known as a LegacyFX commission plan, and in this section, we would be discussing the various LegacyFX Commission plans.

Silver Account

• The initial deposit on minimum deposit amount is $500
• Spread charges start from 1.6 pips
• Specific commission charges are also available
• The leverage charged is 200:1

Gold Account

• The initial deposit on minimum deposit amount is $5,000
• spread charges are 1 pip
• The commission charges are also available for this account
• The leverage charged is 200:1

Platinum Account

• The minimum deposit or initial deposit is $25,000
• The spread charges start from 0.6 pips
• A specific commission charge is available
• Leverage charged is 200:1
• You will have access to the mobile trading application only for the account

VIP Account

• Minimum deposit initial deposit is $50,000
• For this account, you will have fixed spread charges
• Commission charges are fixed
• The leverage charge is about 200:1

Islamic Account

LegacyFX also provides an Islamic account that follows the strict principles of Islamic Sharia law.

According to religious beliefs, there is a law regarding banking activity and interest, and no customers following the law are allowed to trade on interest or swap charges from their trading account.

However, all the Islamic account holders will enjoy all the exclusive benefits and offers of the main trading account, will enjoy the same spread charges, and face the same trading conditions.

Demo Account

LegacyFX has also developed a virtual account which is also known as a demo account.

This is a trading simulation which is also a risk-free environment where all the traders can benefit by learning about the various trading processes, trading instruments, trading tools and learning more about the company and its trading process.

The virtual funds or the dummy money can also be used to buy or sell video assets thus helping the traders learn everything before stepping out into the real market.

LegacyFX Account Opening Process

The broker has developed three types of trading accounts and you need to open a trading account if you want to trade with LegacyFX.

The steps involving the account opening process have been mentioned in this section

• You can visit the official website, https://int.LegacyFX.com/LegacyFX of LegacyFX and navigate to the account opening page
• On this page, some necessary information like name, address, phone number, email address, business address, and some other details have to be correctly filled out
• An authorized identity card has to be submitted for the EKYC
• Once the process is completed the trading account of your preference will be activated
• The credentials would be available within 24 hours at your email address
• Now you can log in to the metadata 5 trading platform and the LegacyFX mobile training application to login into your trading account
• You can use the various deposit and withdrawal methods to add money to your account and you can now enjoy trading

LegacyFX Payment or Withdrawal Methods

One of the most important pieces of information that you must know about LegacyFX is how to transfer money from your main account to the trading account and how to withdraw money from your trading account.

All the account transaction processes and management processes work in an online field where LegacyFX allows various types of payment methods and withdrawal methods.

The payment methods available in your country depending on your area of jurisdiction, area of residence, and the entity on which you are trading.

The best part of LegacyFX payment methods is that there is no deposit or withdrawal fee.

The payment methods are:

Deposit Methods

Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer

Withdrawal Methods:

Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer

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LegacyFX Investment Assets

The basic principle behind investment or any kind of trade is to open a trading account, buy or invest in asset classes and then gain profit.

LegacyFX allows all its customers and traders to invest in multiple asset classes that include:

• LegacyFX registered traders are allowed to invest in currency trading, commodity setting, indices
• trading, stock trading, and cryptocurrency trading
• The supported crypto coins include Bitcoin, Ethereum and Litecoin
• Total number of tradable assets at 203
• Currency pairs is 41
• Number of supported cryptocurrencies is 4
• Total number of communities that can be invested in is 11
• Number of stocks that can be invested in is 137
• Number of indices that are available to invest in is 10

LegacyFX Commission – Conclusion

In this review, we have discussed everything that is known about LegacyFX commission, LegacyFX fee, and LegacyFX charges.

LegacyFX is a regulated European broker that is regulated and operated by various governing bodies like VFSC, FCA, BaFin, thus you can rest assured that all the funds and your data are safe.

The competitive LegacyFX commission charges make it one of the best options both among expert and new traders.

Check Articles on Forex Commission & Plans

LegacyFX Charges or Fees – FAQs

Here is the list of FAQs related to the LegacyFX commission charges:

Do LegacyFX charge commission?

LegacyFX has set certain commission charges and certain LegacyFX fees which vary depending upon the trading account of your preference or the asset in which you are trading.

How much does LegacyFX charge brokerage?

LegacyFX brokerage charge varies upon the commission plan and the entity in which you are trading. LegacyFX brokerage also varies depending upon the trading preference and the trading platform preference of the various users.

What is the Minimum Deposit required in LegacyFX?

The minimum deposit required to open a trading account or to perform any trade with LegacyFX is $500, and this option is only available for the silver trading account.

The minimum deposit amount varies depending upon the commission plan.

How much leverage does LegacyFX provide?

The maximum leverage available for the trading accounts provided by LegacyFX are:

The maximum leverage is 1:30 for all the major currency pairs, however, for all the global leaders it may range up to 1:200

• Stocks – 1:5
• Phoenix – 1:200
• Metals – 1:100
• Indices – 1:100
• Commodities – 1:100
• Cryptocurrencies – 1:5

How much is Spread at LegacyFX?

The spread charges are also variable and also depend upon the asset class, commission plan, and the type of entity that you have selected.

What type of Commission Plans are available in LegacyFX?

The LegacyFX commission plans provided by the broker for its users are:

• Silver trading account
• Platinum trading account
• Platinum trading account
• VIP account

Does LegacyFX provide Cryptocurrency for Investment?

Yes, LegacyFX also allows its users to trade on cryptocurrency and cryptocurrency pairs.

The supported cryptocurrencies are Bitcoin, Ethereum, and Litecoin.

Is LegacyFX a legit Forex Broker?

LegacyFX is a regulated broker and works under the principles of various governing bodies like the VFSC, FCA, and BA fin.

Thus it is considered to be a legit broker and all your funds and data is safe

Can I invest in LegacyFX for $5?

The minimum deposit required to invest or trade in LegacyFX is $500, thus with $5 you cannot invest in LegacyFX.

Are there any hidden charges available with LegacyFX?

LegacyFX has mentioned all their charges on their official page and all the other charges have been mentioned in this review.

LegacyFX Commission, LegacyFX free and LegacyFX charges have been vividly discussed in this entire article.

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