LegacyFX Trading Account – Review, Types, Process, Benefits, Charges & more
Eu entity, A. N. Allnew Investments Ltd. owns a regulated Forex broker called LegacyFX.
The broker offers trading services on Forex, CFDs on many commodities including gold, cryptocurrencies, stocks, oil.
The broker was established in 2017 and follows all the regulations transcribed by CySEC, Financial Conduct Authority, Vanuatu Financial Services Commission, and NBRB.
Some of the software solutions offered by LegacyFX to assist the customers are metrical on the metadata 5, web platform, and desktop platform.
The mobile trading application can also be used free of cost where all the necessary trading tools are available.
The company also provides LegacyFX Trading Accounts that are unique and are developed for different types of users.
LegacyFX Trading Account and Benefits
When you start trading with the broker you get to use 1000 plus trading instruments and trade in 200 tradable assets.
Some of these assets include CFDs, cryptocurrencies, products, indices, and commodities.
So, if you want to use all these trading tools you must register yourself as a user with the company.
So, to use the trading services provided by the company you must open a LegacyFX Trading Account.
The trading account would help you trade using the various instruments in all the asset classes. However, you need to select the account which is suitable for you.
So in this article, we would be discussing the four trading accounts that LegacyFX provides for all its customers.
Once you learn about each of these accounts, the decision-making process will become easy.
The 4 LegacyFX Trading Accounts provided by the company are unique and are different from one another.
The selection of the accounts would depend on your skillset, the amount of investment, your time in the trading market, and your experience level.
At the time of registration, you can opt for the preferred trading account or you can wait for your account manager.
The benefits of the LegacyFX Online Trading accounts include:
- You can opt for STP desktop or ECN desk type
- The minimum deposit is about $500
- The maximum leverage amount is 1:200
- Mini account is available
- Premium account access is available
- A demo account or virtual account is available
- Islamic account is available
- The segregated bank account is available
- You can also opt for managed account
- Trading services are completely suitable for various types of users
- You can opt for daily trading
- Weekly trading can be accessed
Fill up the Form – Open Forex Trading Account Now!
Find Trading Account Services of other Forex Brokers
|Admiral Markets Trading Account||Avatrade Trading Account||Binary.com Trading Account|
|Alpari Trading Account||AXI Trading Account||Binarycent Trading Account|
|ATFX Trading Account||Ayondo Trading Account|
LegacyFX Trading Account Charges
|Trading Account Charges|
|Account Type||Silver Account||Gold Account||Platinum Account||VIP Account|
|Spread||1.6 pips||1 pips||0.6 pips||Fixed|
The users will receive four types of LegacyFX Trading Account that are unique: the silver account, platinum account, gold account, and VIP account.
You will also receive Islamic account and demo account features.
In this section, we would be discussing the account charges.
The account charges involved minimum deposit amount, spread charges, leverage, and commission charges.
The LegacyFX Online Trading account charges vary for each of the accounts.
- The account charges have been mentioned below
- The minimum deposit on the initial deposit amount is $500 and it increases with your experience and the types of account
- Spread charges start from 0.6 pips to 1.6 pips
- The company charges a specific commission for each of the accounts
- The maximum average amount is about 200:1
- The Islamic account and demo account features can be availed free of cost
Types of LegacyFX Trading Account
|Types of Trading Account|
|Trading Desk Type||ECN, STP|
|Suitable for beginners||No|
|Suitable for professionals||Yes|
|Suitable for scalping||No|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||No|
A trading account is a mechanism by which the customers can invest in the forex market with their funds and then earn profit.
No extra charge as the commission is required. However, whenever you are dealing in stocks the company might charge a specific Commission.
Silver Trading Account
- Exclusively made for the beginners
- The minimum deposit amount is $500
- The leverage amount is about 1:30
- Spread charges start from 1.6 pips
- You can trade in most of the assets
- All the trading instruments can be used
Gold Trading Account
- Exclusively available for all the day traders
- The minimum deposit amount is $5,000
- Spread charges start from one pip
- Commission charges are available
- 1:30 is the leverage amount
- All the traders interested in commodities especially gold can use this account
- MetaTrader 4, MetaTrader 5, and mobile dating application is available
Platinum Trading Account
- Exclusively available for the traders who want to earn better profit
- $25,000 is the minimum deposit amount
- Leverage amount starts from 1:30
- Spread charges range from 0.6 pips
- Exclusively made available for all the experienced traders
VIP Trading Account
- Only available for the top-level and priority clients
- The minimum deposit amount is $50,000
- The spread charges are fixed
- The leverage amount is about 200:1
- All the expert level Traders can use this account for trading
- Premium tools, premium customer service, and premium applications can be used whenever you use the VIP account.
Whenever a customer uses the Islamic account provided by LegacyFX all the commission charges, late-night charges, swap charges, and position holding charges are removed.
The Islamic account is only available for the Muslim traders who followed the stick principles of Sharia law.
To avail of Islamic account features, you need to show identity proof to verify that you are a Muslim.
This account is made available for all users for a specific period. Virtual currencies are also available.
In this demo account, the customers get to learn about the market, the company, the various
LegacyFX Trading Account, the various trading instruments and also developed trading skills.
LegacyFX Account Opening and Trading Process
To avail all the features and tools provided by the company you need to open a trading account.
The trading account can be directly opened from the official website of the company or you can contact the representative at LegacyFX.
- Visit the official website and navigate to the trading account page.
- Carefully complete the registration process with all the necessary details
- After submission, the KYC portal would be opened where you have to verify your identity with an authorized identity card. This will take some time.
- Now your trading account will be and the login details would be available at your email address.
- You can use various trading software like trading platforms and mobile applications to log into your account.
- Funds can be added directly via mobile applications or trading platforms.
- All the exclusive trading instruments can be used now.
- Remember to avail demo account features to learn about the trading process.
Find Different Trading Account Types of Forex Brokers
|Bitmex Trading Account||Dukascopy Trading Account||Binomo Trading Account|
|Degiro Trading Account||Easymarkets Trading Account||Finq.com Trading Account|
|Deriv.com Trading Account||eToro Trading Account||Forex.com Trading Account|
LegacyFX Trading Account – Features
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
The trading features that you will receive from the company are:
- Educational lessons, video services, and one-on-one doubt clearing sessions
- Trading signal subscription
- Email notification
- Guaranteed stop loss
- Guaranteed limit orders
- Automated trading via expert advisors
- One-click trading feature
- Demo account
- Dummy money or virtual currency
Check out Online Trading Services of FOREX Brokers
|FP Markets Trading Account||FXPro Trading Account||HYCM Trading Account|
|Fusion Markets Trading Account||FXTM Trading Account||IC Markets Trading Account|
|FXOpen Trading Account||Go Markets Trading Account||iForex Trading Account|
LegacyFX Trading Account – Conclusion
LegacyFX is one of the most popular forex trading companies in the market.
The company is completely safe as it is controlled and authorized by a total of four governing bodies that include CySEC, FCA, VFSC, and some other strong governing bodies.
The company promises one of the most competitive trading conditions and fees that include no rollover fees on long-time holding positions, negative balance protection for all the customers, and segregated and separate client funds.
The customer support provided is available 24×7 and is available via phone, email, chat, and direct help links.
LegacyFX also provides a lot of payment and deposit options that also include the latest e-wallet options.
The payment options will depend on the area of residence of the user. Whenever you decide to trade with the company, you can avail exclusive and premium features of 200 plus financial trading instruments along with FX, commodities, indices, stocks, and cryptocurrencies.
The beginner-level traders will also benefit from the wide range of trading tools and equipment along with educational videos.
LegacyFX Online Trading – FAQs
Here is the list of FAQs related to the LegacyFX trading account:
Does LegacyFX provide Online Trading?
You will receive some of the exclusive features like one-click reading, email alerts, notifications, market reports whenever you are trading with the broker.
One of the exclusive features of the broker is that you will receive online trading features without any extra cost.
What are the Commission Charges in LegacyFX?
The amount charged by a broker from its customers to avail trading services and trading instruments is called commission charges.
The commission charges are fixed whenever you’re trading with the broker and it depends on the trading account or the live account which you are using.
Does LegacyFX provide Demo account Trading?
The broker has developed a demo account which is also called a virtual account for all its new traders who want to learn more about the market.
You will find virtual currencies or dummy money in this demo account and you can use it to practice trading.
Your trading skills can be sharpened in the demo account without any risk.
Is trading Free at LegacyFX?
Trading with LegacyFX is not free as there are some charges involved with each of the accounts, the trading instruments, and the asset class. The charges include leverage, commission, spread charges, and initial deposit charges.
Does LegacyFX provide Spot Metals Trading?
The customers are allowed to trade in multiple assets like forex, CFD, oil, and various other assets.
However, from the gold trading account, you are also allowed to trade in spot metals like gold, platinum, and various other metals at a certain cost.
What are Spot Metals Trading Charges at LegacyFX?
Spot metal can be directly traded from the gold trading account. Spot metals include gold, platinum, and silver.
There are some trading charges associated whenever you are treating spot metals and for more details, you can contact the authorities at the company.
Does LegacyFX provide Stock Trading?
Whenever you open a trading account with the broker you are allowed to trade in various classes that include CFD, forex, commodities, platinum, and oil.
You are also allowed to trade in stocks via all the trading accounts provided by the company.
What is Spread at LegacyFX?
Their spread charges are variable and it depends on the trading account or the instrument that the customer is using. The spec charger starts from 0.6pips 1.6pips.
Is LegacyFX safe for trading?
LegacyFX is monitored and authorized by some of the top-tier governing bodies like CySEC, VFSC, and some other popular governing bodies.
The company promises negative balance protection, client funds aggregation and also protects all the user data and information.
Does LegacyFX provide Trading Tips?
Along with education materials, videos, and one-on-one sessions, LegacyFX also provides trading tips to all its users.
Fill up the Form – Open Forex Trading Account Now!
Most Read Articles
|Forex Trading – Know Everything|
|Forex Broker – Know Everything|
|Why Trade in Forex?|
|How to Trade Forex?|
|Forex Trading Strategies|
|Forex Trading Tips|
|Become a Successful Forex Trader|
|Best Forex App|
|Top Forex Broker|
|Best Forex Trading Books|