LegacyFX Review – Online Platforms, Commission, Leverage, Account Types, Features & more

LegacyFX is a popular regulated CFD broker that offers a stator trading in Forex, CFD, and various other commodities along with free-market signals.

This multi-asset trading specialist allows its traders to invest in other items like gold, oil, and dices, cryptocurrencies, and major stocks internationally since 2017.

The company is GDPR compiled and is regulated and monitored by FCA, BaFin, and CySEC.

The main object of the trading company is to enhance financial transparency and also offer negative balance protection for all its clients.

The company provides one of the tightest spread amounts which starts from 0.6 pips.

Whenever a trader decides to use LegacyFX, they are offered over 200 trading instruments. Your company provides its clients access to various trading platforms that include MetaTrader 4, MetaTrader 5, and an advanced mobile trading application.

In this LegacyFX Review, we will be discussing all the necessary information about LegacyFX and this will help you decide whether you want to trade with the company or not.

About LegacyFX & Accepted Countries

Founded in 2017, LegacyFX is registered in Vanuatu and is regulated by the Vanuatu Financial Services Commission (VFSC).

The broker is also regulated by CySEC and NBRB. It is owned by its parent company, A. N. Allnew Investments ltd, which also follows the CySEC (Cyprus), FCA (UK), and Ba FIN (Germany).

The traders have 200 financial instruments that include FX commodities, cryptos, stocks, and indices to trade with. All beginner-level traders will also be benefiting from the wide range of free trading tools and educational resources.

Some of the accepted countries include Australia, Thailand, Canada, the United Kingdom, South Africa, Singapore, Hong Kong, India, Germany, Norway, Sweden, and various other countries. The company does not accept clients from the United States, Korea, Yemen, and Iran.

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LegacyFX Trading Platforms

The broker provides the advanced and updated MetaTrader 5 trading platform for its traders. The MT5 trading platform is also the successor of the MT4 trading platform.

A trading platform compliments all its levels of experience that is widely favoured by advanced traders.

MT5

Some of the exclusive features of the MT5 trading platform are:

• 80 plus technical indicators and graphical tools
• You earn Depth of market view
• Economic feed
• One-click trading function along with rapid execution
• Historical data center
• Faster expert advisor strategy tester
• You can download the software from the official website of the broker.

Web platform

You can trade Forex and CFD directly on the MT5 trading platform without downloading any software. You can trade on any global market directly from any browser via the web platform.

Desktop Platform

The MT5 trading platform for desktop has been designed to monitor and optimize the entire trading process and also by offering broad functionality.

The traders can also enjoy all the latest versions of the most popular trading platform along with cutting-edge features, advanced functionalities, and benefits brought by the company.

LegacyFX Mobile App

The broker offers a cross-platform trading experience with the user-friendly MT5 LegacyFX App. The traders who want to trade on the go will love that mobile trading application.

The traders are given the option to manage open positions and also access interactive chatting tools, view trading history on the go.

The users can stay informed with the latest market news, the economic calendar and take advantage of the entire optimized strategy via Expert Advisors.

The LegacyFX App can be accessed both from Android and iOS devices and has received positive 5-star reviews for its friendly interface.

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LegacyFX Commission or Brokerage or Fees

The traders can be allowed to select between fixed and variable spread amounts.

A variable spread is available for the major forex pairs that include EUR or USD and starts at 1.6 pips for the silver trading account.

The spread amount gets tighter with the gold and the platinum accounts going down to us 0.6 pips.

All the asset classes are LegacyFX Commission free except for the stocks where the charges may ring from 0.15% to 0.45% depending on the accounts.

No rollover or long-term fee on the long-term positions, no variable LegacyFX Commission, the company promises negative balance protection, and the client funds are segregated from the company funds.

LegacyFX Exposure or Leverage

The leverage amount values from 1:5 to 1:200 and it depends on the asset that is being traded:

• Stocks 1:5
• Forex 1:200
• Metals 1:100
• indices 1:100
• commodity 1:100
• cryptocurrencies 1:5
• For major currency pairs, the leverage is 1:30

Payment Methods provided by LegacyFX

Another important part that the trader must consider before opening an account with LegacyFX is the payment method.

The payment methods include the deposit method and the withdrawal method.

All of these processes happen through an online field while the company makes it possible to provide various payment methods.

The payment method also varies depending on the type of asset you are trading.

Deposit Method:

Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer

Withdrawal Methods:

Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer

Withdrawal usually takes two to three days to process.

The company does not charge any transfer or commission charge for withdrawals via bank accounts or bank cards but a $50 fee is charged for wire transfer withdrawals.

Find out Payment Methods provided by other Forex Brokers

Investment in Asset Classes or Markets by LegacyFX

The registered traders are given access to trade in hundreds of asset classes on thousands of some of the asset classes on markets offered by LegacyFX are:

• The firm allows to invest in currency trading, commodity trading, and Indices training, stocks trading, and cryptocurrency trading
• The supported Bitcoins include Bitcoin, Ethereum, Litecoin
• The total number of tradable assets is 203
• The number of currency pairs is 41
• The number of cryptocurrencies in which the users can trade-in is 4.
• The number of stocks in which the users can trade-in is 137, the number of indices is 10
• The number of commodities in which you can trade is about 11.

LegacyFX Virtual Trading or Demo Account

LegacyFX has developed an MT5 demo account or virtual account.

This virtual account is available for all the traders who are to browse through the various platforms and get accustomed to the trading tools, environment, and techniques.

$10,000 worth of virtual currencies is dummy money that has been added to the account and is available for one month.

The company does not charge any extra amount for providing this demo account. The simply means that all the premium features are available free of cost to all the users.

LegacyFX Offers or Deals

The broker provides a certain types of offers and deals for all its users. Some of the offers include:

Free learning and educational courses to know about the trading environment and gain knowledge about the trading activities.

• A free demo account is available for all the traders
• Specific discount on brokerage
• Flexible and variable brokerage plans
• Referral offer for all the affiliates or partners

LegacyFX Regulation or Licensing

The broker is regulated by the Vanuatu Financial Services Commission (VFSC).

The broker is owned by the parent company, A.N. Allnew Investments Ltd which is regulated and monitored by the Cyprus Securities and Exchange Commission (CySEC).

The broker also holds a license with the Financial Conduct Authority (FCA) in the UK and the Federal Financial Supervisory Authority of Germany(BaFin).

According to the strict rules and regulations of the governing body, the company has to file monthly reports to an anonymous external firm.

The company also offers negative balance protection and also ensures that the client fund is kept segregated at renowned tier 1 bank accounts.

Find out Regulations & Licensing of more Forex Brokers

LegacyFX Features

Some of the trading features offered by the company are:

• Educational services, trading signals, and email alerts are available
• Guaranteed stop-loss and guaranteed limit orders are available.
• Automated trading with expert advisors is available
• A one-click reading feature is also available
• Additional features include an economic calendar, FX calculator, AutoChartist plugin, TradingView Portal, real-time charts, fundamental data, and crypto market widgets.
• The beginner clients can also benefit from the broker’s Safe Mode Program that allows them to undo losing trades.

LegacyFX Account Types

Take a look at the types of accounts that the company is offering:

That trading company provides four types of trading accounts: silver account, gold account, Platinum account, and VIP account.

With the increase in the minimum deposit, the spread charges will get tighter.

All these accounts provide the same basic features, including scrap-free trading which is a highlighting point.

The Silver Account

• The minimum deposit amount is $500
• Spread charges start from 1.6 pips
• A certain amount of commission is charged
• The leverage amount is 200:1

The Gold Account

• The minimum deposit is $5,000
• Spread charges are one pips
• Some commission charges are there
• The leverage amount is 200:1

The Platinum Account

• The minimum deposit is $25,000
• Spread charges are 0.6 pips
• Commission charges as present
• Leverage is 200;1.

The VIP Account

• The minimum deposit is $50,000
• Spread charges are fixed
• Some commission charges
• Leverage is 200:1.

LegacyFX Trading Account Features

Check below all the trading account features under various account types:

LegacyFX – Research & Advisory

Find below all the different reports and support provided by its Research & Advisory team:

LegacyFX Benefits

Some of the positive points are the benefits of the broker are:

• No swap fee
• Commission-free trading
• Variety of asset classes
• Free signals and analytics
• The company is regulated
• A VIP card is available.
• The good record under European laws
• MT 5 trading platforms
• Swap-free account available for all trader
• Negative balance protection

LegacyFX Cons or Drawbacks

The exclusive disadvantages include:

• The condition changes according to the brokers regulation
• The minimum deposit is quite higher
• Does not accept clients from the US or Canada
• Withdrawal wire transfer fee
• Only MT 5 is available
• The starter account at the beginning account is not competitive
• The mobile trading application is only available for VIP customers.

LegacyFX Trading Hours

The international or the global Forex market is available 24 hours a day but the trading sessions vary based on the time zone

• Tokyo – 7:00 p.m. to 4:00 a.m. EST
• London – 3:00 a.m. to 12:00 EST
• New York – 8:00 a.m. to 5:00 p.m. EST

LegacyFX Customer Care or Contact Details

The customer support is available Monday to Friday 8:00 A.M. TO 12:00 midnight.

The live chat is available on the website, mobile trading application, and trading platform.

• The customer support can be reached via:
• Telephone – + 41315087455
• Email – support@LegacyFX.comOnline call back feature is also available

LegacyFX Safety & Security

The company is known to execute all the transactions via level 1 PCI-certified service providers and all the servers are located in SAS – 70 certified data centers.

The trading activities on the trading platform are also secured with Rapid SSL encryption and are firewalled.

LegacyFX Rating & Reviews by Top10StockBroker

Based on different users and their experiences below are the company rating and reviews:

LegacyFX Forex Trading – Conclusion or Verdict

After going to the LegacyFX Review, we learn that LegacyFX presents a global brokerage company with a proper customer-oriented operation and also provides a secure and well-regulated trading environment that is suitable for all types of users.

It is considered to be one of the most promising brokers in the industry and has established itself as a leader in the retail sector.

As it is authorized and monitored by three governing bodies, you can be completely assured about the security of your funds and your data.

LegacyFX Forex Trading FAQs

Here is the list of FAQs related to the LegacyFX:

Is LegacyFX Safe for Trading?

Yes, LegacyFX is completely safe for trading as the company is regulated and monitored by CySEC, FCA, and BaFin.

So all your funds and all your data are secure with the company.

What is the Commission for LegacyFX?

The condition charges vary depending on the type of trading account or the asset in which you are trading. For most of the accounts, a specific commission charge has to be paid.

How to Open a Trading Account with LegacyFX?

To open a trading account,

1. you have to visit the official website
2. click on open a trading account
3. complete the application form
4. complete the identity verification process
5. now the account will be opened

Can I invest in Cryptocurrency with LegacyFX?

Yes, all the traders are allowed to invest in cryptocurrencies whenever they are trading with LegacyFX. The supported cryptocurrencies include bitcoin, ethereum, litecoin.

What leverage does LegacyFX provide?

The leverage amount also varies depending on the trading instrument or the asset plus or the trading account the trader is using.

The leverage amount values from 1:5 to 1:200.

Does LegacyFX have a trading app?

Yes, the company has developed a mobile trading application that can be downloaded both for Android and iPhone users.

This application has all the exclusive features of a live trading account and the trading platform but is only available for VIP users.

How to contact LegacyFX customer care?

To contact the customer care authority you can:

• Telephone – + 41315087455
• Email – support@legacyfx.com
• Online call back feature is also available

Is LegacyFX Regulated?

Yes, LegacyFX is regulated and monitored by three governing bodies that include the FCA, CYSEC, and BaFin.

Is LegacyFX good for Beginners?

Yes, the company has a user-friendly interface, simple programs, and simple tools which is beneficial for beginners.

The demo account has been exclusively developed for beginners.

Who founded LegacyFX?

LegacyFX was founded by Jad Abdelrahman and was established in 2012.

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