LegacyFX Demo Account – Opening Process, Charges, Features, Benefits & moreLast Updated Date: Apr 25, 2022
Check out everything about LegacyFX Demo Account or Virtual Trading Platform here.
LegacyFX is an international CFD trader and a forex broker that works on free-market signals.
The broker is registered to the EU entity, AN All-New Investments Ltd, and operates under the guidelines and principles of various regulatory bodies. Some of the regulatory bodies include –
- Vanuatu Financial Services Commission VFSC
- CySEC, Cyprus
Whenever a customer decides to trade with LegacyFX, they are offered over 200 plus financial instruments that include multiple asset classes like indices, stocks, commodities, cryptos, and FX.
The broker provides services to both new and experienced traders as they provide a list of free trading tools along with various educational resources.
LegacyFX was established as a South African brokerage firm in 2012 and later in 2017 they rebranded and relaunched all their operations and services under the new management. The company is based in Cyprus.
In this review, we will be discussing the LegacyFX demo account.
LegacyFX Demo Account
Yes, along with various other attractive features, LegacyFX has also developed a free demo account for all the beginner and new traders to trade on.
LegacyFX demo account in the face is best for all the traders who want to learn about the basics of trade, the process of trade, the multiple trading assets, trading instruments, trading tools, trading charts without risking any loss in funds.
This demo account is a 100% risk-free simulation environment where the traders get complete freedom to perform any type of trading activity.
LegacyFX demo account is provided as an empty demo trading account which is available for all the beginner traders and the probable traders who wish to access the broker’s trading platforms, trading tools, browser trading platform and get accustomed to the techniques and types of equipment.
A certain amount of virtual currencies but also be provided that the traders can use to try out various trading strategies.
This demo account can be used by anyone who eats a new user or an experienced trader.
The professionals can use the LegacyFX virtual trading account to try out strategies in real market life conditions and then copy-paste it into the real market to earn better money.
Open Demo Account Now! – Zero Commission on Trades
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LegacyFX Demo Account Features
LegacyFX virtual training account comes with a balance of $10,000 to $50,000 virtual currencies and total access to the various trading platforms.
The traders will also get the opportunity to trade with these virtual currencies in real market conditions.
It allows all its traders and to use the LegacyFX virtual trading Platforms and understand the following features:
- A variety of pending order types: All the customers are allowed to place eight different types of pending orders to get more, better, and precise control over the various open positions
- Trading with cryptocurrencies: LegacyFX virtual Trading Platform, MetaTrader 5 supports various types of cryptocurrencies with the white set of new and unique cryptocurrency functionalities and features
- Access to one-click trading feature: LegacyFX virtual trading platform, MT5 makes the trading process easier and also helps the traders easily open a new position with a single click
- Multiple technical analysis tools: Mt5 trading card form has various additional technical tools, indicators, instruments that provide the users with a lot of options.
- Users are allowed to choose from over 21-time frames for various charting features
- Traders will also enjoy nine additional techniques for chart restructuring
- This demo account is available for 30 days and can be increased upon request to the broker
- LegacyFX demo account can also be used with the MetaTrader 4 platform but your advice is to use the new MT5 platform
- A certain amount of virtual currencies based on your local currency between 10,000 to 50,000 will be provided in the demo account to help you with the trading needs.
LegacyFX Demo Account Charges
|Demo Account Details|
|Virtual Money||$10,000 – $50,000|
Along with various features that LegacyFX provides, the company promises to provide LegacyFX virtual trading account free of cost for all the new traders and inexperienced traders.
So, you get to enjoy all the premium tools, charting tools, communicators, and various trading instruments free of cost in this demo account.
These tools are available in the live trading account and with the help of demo account, you learn about the trading environment, global market, forex market, and more about the company.
How to open LegacyFX Demo Account?
Whenever a new customer opts for a LegacyFX demo account, they need to submit some necessary information like personal data for business purposes.
This data collection is required according to the principles of the governing bodies for regulation as well as to safeguard against fraud and anti-money laundering purposes.
However, opening the LegacyFX demo account with the broker is quite simple, fast, and convenient and you must follow the steps given below for easier access:
- Firstly, you have to visit the official website
- Now find the demo account opening portal which is available on the homepage
- On the application of the registration page, you have to provide simple details like name, email, phone number and create a strong password for your demo account
- No, you have to select the desired currency or your local currency on which you want to trade. This is the exact currency that you must choose whenever you open a live trading account with the company
- Read the terms and conditions and accept it
- Now you can submit the details and the registration process will be completed.
- The next step is email verification where you have to verify a link in your email address
- Upon successful verification, your user ID will be generated and the demo account will be activated.
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Advantages of LegacyFX Virtual Trading Platform
Benefits of the LegacyFX Virtual Trading Platform are:
- You get to learn and understand the mechanism of trading forex in the various global markets
- You understand the speed and the feel of a live trading feed and get accustomed to the real trading environment
- Completely risk-free as there’s no chance of losing any funds
- You can develop and reconstruct your forex strategies
- The demo account will hold a virtual currency of 10,000 US dollars to $50,000
- Default LegacyFX demo account is active for 30 days and to increase you have to visit the broker
- Account opening and registration process is quite easy
- It also provides full access to MT5 and MT4 trading platforms
- All the additional features like ebooks, video tutorials, market news, economic calendar, autochartist, expert advisor, automated Trading and AutoChartist is also available in the LegacyFX demo account.
LegacyFX Demo Account – Conclusion
LegacyFX is a regulated and well-known South African forex and CFD provider that has clients from different parts of the globe.
The trading firm has developed the LegacyFX virtual account for all the beginner and new traders who want to learn about the trading market, the company, the various trading instruments and earn money from them.
LegacyFX demo account is considered to be one of the finest in the market due to its user-friendly interface and the thousands of features that are available.
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LegacyFX Virtual Trading Account – FAQs
Here is the list of FAQs related to the LegacyFX demo account:
Does LegacyFX provide Demo a/c?
Along with the additional features, The broker has also developed the LegacyFX demo account.
This account is available for all the new traders and all existing traders and can be used both by beginners and expert traders.
How to Set up a LegacyFX Demo Account?
The process of setting up the LegacyFX demo account is simple
All you need to do is visit the official website, click on open a demo account, fill out necessary details, click on terms and conditions and submit.
Then you will find the user ID in your email address and you can log in via any virtual trading platform.
Is LegacyFX Virtual Trading Platform Free?
LegacyFX virtual Trading platforms can be used free of course as the company does not charge any amount for using any of their features.
All you need to do is have a trading account with the company that can also be a demo account.
What are the Fees of the LegacyFX Demo Account?
LegacyFX promises no charges or no fee whenever you are using its demo account.
All the premium tools, features, and instruments that are available in the live trading platform can be used without any cost.
Is AMC levied on LegacyFX Virtual Trading Platform?
No kind of account maintenance charge or AMC is required while using the LegacyFX virtual trading platform and the LegacyFX demo account.
Thus, you can easily use all the instruments and features without paying any amount.
Is LegacyFX Demo Account best?
LegacyFX demo account is one of the finest and advanced demo accounts in the trading market and the forex market.
It is available free of charge for all its traders and the new traders.
What Documents are required for LegacyFX Demo Account?
You do not need to provide any kind of verification whenever you are registering for the LegacyFX demo account. Documents are not necessary during the registration process.
Is PAN required for Opening LegacyFX Account?
No kind of identity proof or verification ID is required for opening the LegacyFX demo account. Thus PAN information is also not required.
Does LegacyFX charge a Demo Account opening Fee?
LegacyFX virtual trading account is free as the company offers demo account services free of charge for all the new traders and interested traders.
How much Virtual Money do you get in LegacyFX Demo Account?
The amount of virtual currencies or dummy money present in the LegacyFX demo account is $10,000 to $50,000 and the currency type is based on the local currency or your preferred currency.
Open Demo Account Now! – Zero Commission on Trades
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