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LegacyFX provides access to commodity CFDs, enabling traders to speculate on price movements in popular markets like energy and precious metals. LegacyFX’s cryptocurrency trading offers traders flexibility and convenience, allowing them to profit from market volatility with lower capital requirements. LegacyFX also provides account managers with PAMM accounts, enabling a complete portfolio management solution. This allows smaller account management firms and skilled traders to build their asset management business with control over parameters. LegacyFX only lists 41 currency pairs and eight cryptocurrency pairs, which is certainly enough for new and intermediate traders, especially in conjunction with the other assets it offers. The bulk of assets consist of 246 equity CFDs listed in nine countries, complemented by 13 ETFs.

What can you trade with LegacyFX?

Signing up to any account type legacy fx review is completely free, and there are no additional fees. The MT5 is, without doubt, the world’s most cutting-edge trading platform and it represents a significant upgrade on the MT4 platform. It also offers features that cannot be contested that most of its competitors. The platform provided to Legacy FX clients is the ever-popular MetaTrader MT5.

Opening an Account

Most of the time, forex investors buy into a currency pair like Japanese Yen and Pound Sterling. The foreign exchange market has you compare the movement of these two assets, and your speculation will determine if the prices are converging or diverging. LegacyFX customer support staff can be reached Monday through Friday from 8 a.m.

LegacyFX Minimum Deposit

For all other instruments, including Forex, indices, and commodities, LegacyFX earns through the spread rather than a commission. Since LegacyFX is fully licensed, it adheres to strict regulatory requirements, ensuring that traders’ investments are safe. The broker completely segregates client funds from its operational funds, keeping them in leading, reputable EU banks.

LegacyFX is a broker catering to international traders as a duly registered and regulated broker from Vanuatu. Customer support is available Monday through Friday between 0800 and 2400 (GMT+3). LegacyFX provides its registered office address in Vanuatu, an official phone number in Switzerland, a messenger with a UK landline, e-mail addresses, a web form, and live chat. An FAQ section answers some questions, and I recommend live chat or phone support as the most convenient contact method if traders require assistance.

The great thing about the MT5 is that it supports trading cryptocurrency, and it comes with new features that cater to this asset. It covers a vast range of chart types, technical indicators and time frames. It comes with 50+ technical indicators that come pre-installed with the downloadable platform. Plus, traders can freely install their technical indicators, acquired from other third-party creators. Much more, traders can even generate their own technical indicators via the platform. During our testing of Live Chat, we found the service to be high quality.

Response times were immediate, staff were well informed and professional, and there was no first stage of interaction with a bot. If you prefer to discuss queries over the phone, then it’s possible to contact customer support or the broker’s dealing desk to speak to staff equipped to help you book trades. Processing times for withdrawals range between 1-3 days, which is in line with standard market practice. Legacy FX don’t charge any withdrawal fees, but all the paperwork relating to your account must be completed before the broker is allowed to release funds. LegacyFX provides an extensive education and research section to help traders improve their skills. The education materials cater to all levels, from beginners to more advanced traders.

• LegacyFX WebTrader is continuously updated to incorporate the latest technological advancements, ensuring that traders have access to cutting-edge tools and features that enhance their trading performance.
• However, LegacyFX is a platform that does not have a bank but still manages to provide great security.
• However, if a market order is not fulfilled, no commission fee is usually charged.
• Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
• The user-friendly features, high-end software, and educational tools prove this is a broker who is concerned with the quality of its users’ experience.

LegacyFX offers tight spreads and high liquidity, making the platform particularly suitable for strategies like scalping and high-frequency trading. These conditions allow traders to execute trades quickly and at desired price points, minimizing costs and maximizing potential returns. This comprehensive forex trading environment, combined with the broker’s robust trading infrastructure, caters effectively to both new and experienced traders looking to engage actively in the forex market. With seven account types ranging from Standard to VIP, LegacyFX caters to traders of all experience levels and financial capacities. Each account offers tailored features, such as premium trading tools and swap-free options.

Recommended Brokers:

Unfortunately I don’t have the time to sit in from the of charts and analyse them consistently on a daily basis which is why I went looking for professionals that do. Their trades were good and had a good success rate so I opened an account. I then got mucked around with a bad account manager then sent a ton of loosing trades and despite asking repeatedly for a new account manager I got no-where so I stopped trading.

• With cryptocurrency trading features and clear segregation between orders, positions, and transactions, LegacyFX’s MT5 Web Platform ensures flexibility and efficiency for traders of all levels.
• These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices.
• That will result in opening an account with the EU-based entity regulated by CySEC or the global arm of the broking group overseen by the Vanuatu Financial Services Commission (VFSC).
• Bringing convenience for users is the only way you can make users satisfied with your platform.
• LegacyFX offers a range of account types to suit different trading needs, including Standard, Bronze, Silver, Gold, Platinum, Premium, and VIP accounts.

The premium account type offers platinum sessions and advanced mentoring, while the platinum account provides a dealing room direct line and trading plan assistance. The gold account gives you access to the direct dealing desk, personal success goals and basic mentoring counseling, as well as a VIP EU Mastercard credit card. LegacyFX accepts deposits via bank wire transfer, Mastercard and Visa credit card, Neteller, Skrill, VLoad, and Bitcoin. This broker won’t charge you any fees for deposits, but the minimum deposit is 500 USD.

As this software is offered under license by a third-party (MetaTrader), it’s necessary to complete some additional online paperwork and accept a Terms of Service agreement. Legacy FX do well to provide a helpful breakdown of what is needed in the FAQ section of their site. Generally, most traders that have used their services have had positive things to say about them, and the broker has a good overall reputation. There have only been a few miscommunications along the line with the brokers and traders.

All of the account types include the trading academy, live support, daily signals, tips and updates, a private channel and access to commodity trading and a swap-free account. The Silver account provides access to all trading platforms of the broker. Technical analysis and educational bonuses are also included in the Silver category. A key component of LegacyFX’s commitment to security is the segregation of client funds.

Traders also have access to a variety of research tools, including economic calendars, market news, and in-depth charting tools, all of which are available through the broker’s platform. For those interested in diversifying their portfolio, LegacyFX offers an array of trading pairs in forex and CFDs, making it a well-rounded broker for global markets. The multi-jurisdictional regulation of LegacyFX means that traders from different regions can choose the regulatory body that best aligns with their preferences and requirements. This flexibility enhances LegacyFX’s global appeal, making it a preferred option for traders seeking a broker with comprehensive regulatory oversight.

This level of regulation is crucial as it not only assures traders of the broker’s dedication to fair and transparent practices but also helps safeguard their investments. LegacyFX is regulated by the Cyprus Securities and Exchange Commission (CySEC)(344/17), Bafin (Federal Financial Supervisory Authority). When selecting a broker such as LegacyFX, one of the most critical factors to consider is the broker’s regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client’s funds, as they operate without any oversight or regulation.

Accounts can be set up in one of three base currencies, USD, EUR, or GBP, and funding transfers can be made using wire transfers and credit and debit cards. If you’re using the wire transfer process, you should allow up to three days for funds to clear, but card payments are processed immediately. With these, traders can carry out automated trading to a level where their involvement is only essential when the trading tactics fed into the EAs fail for some reason. The EAs can be tailored and bought from other originators or formed from scratch.

With that being said, most traders count the few losses with the signal service as negligible. LegacyFX is a forex broker with seven years of experience that also offers signal services on the side. The broker supports multiple languages, ensuring that traders from different regions can easily communicate with the support team. In addition to MT4, LegacyFX also provides a WebTrader platform, which allows traders to access their accounts directly from their browsers without needing to download any software. LegacyFX provides access to the popular MetaTrader 5 (MT5) platform, known for its advanced trading tools and features. Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.