LegacyFX is a Multi-Assets Trading Platform with over 200+ Assets
LegacyFX is a multi asset platform with 200+ tradable Assets. Assets available on LegacyFX include Forex trading, CFD Commodities Trading, CFD Indices trading, CFD Stocks Trading, Cryptocurrency trading, CFD Trading.
LegacyFX trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, CFD Commodities Trading, CFD Indices trading, CFD Stocks Trading, Cryptocurrency trading, CFD Trading are considered financial assets.
Features of LegacyFX
- Virtual Portfolio, or what is commonly known as a Demo Account
- LegacyFX offers Advanced Financial Chart comparison tools
- LegacyFX offers Research-backed analysis on financial markets and investments from top analysts
- The LegacyFX platform is available to use on multiple devices including Apple Mac computers, and online through a Web Browser.
- LegacyFX offers a trading platform with tools for both New Traders and Seasoned Experts
- LegacyFX users benefit from using the LegacyFX platform in over 15 different languages
What you should know
LegacyFX offer six ways to trade: Forex trading, CFD Commodities Trading, CFD Indices trading, CFD Stocks Trading, Cryptocurrency trading, CFD Trading. The assets and products available to you on the LegacyFX trading platform depends on the region of the world, you are in and the LegacyFX entity you have an account.
LegacyFX are able to accommodate various levels of traders whether you are experienced or a beginner.
Are LegacyFX safe?
When considering LegacyFX for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as LegacyFX, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.
Established in 2012, and in operation for 12 years LegacyFX have a head office in Cyprus.
LegacyFX is regulated. This means LegacyFX are supervised by and is checked for conduct by the Vanuatu Financial Services Commission (VFSC) license number 14579 regulatory bodies.
LegacyFX withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like LegacyFX are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. LegacyFX are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of LegacyFX and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. LegacyFX has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, LegacyFX will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like LegacyFX, you can enjoy peace of mind and focus on your trading activities. If LegacyFX violate any regulatory rules their regulated status could be stripped.
Your capital is at risk
Is my money safe with LegacyFX?
All payments made to LegacyFX by traders are securely held in a segregated bank account.
LegacyFX uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.
What are Tier 1 banks and why should LegacyFX use them?
LegacyFX partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their LegacyFX clients' funds.
LegacyFX clients can have greater confidence in their financial security when working with a Tier 1 bank because LegacyFX are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.
What does it mean to have your funds in LegacyFX deposited in a Tier 1 bank?
Depositing funds with LegacyFX ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if LegacyFX were to go out of business unexpectedly.
Based on the information presented, it is safe to conclude that LegacyFX is a secure and safe platform.
Please be aware that trading in financial assets with LegacyFX carries a risk of loss. LegacyFX trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, CFD Commodities Trading, CFD Indices trading, CFD Stocks Trading, Cryptocurrency trading, CFD Trading due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.
LegacyFX emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about LegacyFX, let's closely examine its features.
To better understand the LegacyFX trading platform, you can create two separate accounts - one with real money and the other a LegacyFX demo account. A LegacyFX demo account provides a risk-free environment for experimenting with the LegacyFX platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in LegacyFX trading decisions.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
How LegacyFX as a Company Compare Against Other Brokers
|Vanuatu Financial Services Commission (VFSC) license number 14579
|Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
|RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund
|FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
|1,000+ LegacyFX users
|180,000+ IC Markets users
|1,000,000+ Roboforex users
|30,000,000+ eToro users
|Negative balance protection
|Guaranteed Stop Loss
|Visit IC Markets
|Your capital is at risk
|Losses can exceed deposits
|Losses can exceed deposits
|76% of retail investor accounts lose money when trading CFDs with this provider.
LegacyFX Pros and Cons
What we like about LegacyFX
- Used by over 1,000 LegacyFX users and traders
- Established in 2012
- Regulated by Vanuatu Financial Services Commission (VFSC) license number 14579
- Min. deposit from $500
LegacyFX Regulation and Licensing in more detail
LegacyFX is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of LegacyFX going into insolvency. LegacyFX compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like LegacyFX to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for LegacyFX traders.
- Vanuatu Financial Services Commission (VFSC) license number 14579
LegacyFX is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like LegacyFX you should be sure they're legitimate online agent.
Is LegacyFX Global?
No, LegacyFX is not global, LegacyFX is not available globally as LegacyFX is not available in some major trading countries.
LegacyFX is restricted in some major geo regions.
LegacyFX Fees Explained
- LegacyFX withdrawal fees varies on payment method
- LegacyFX does not charge a fee for inactive accounts.
- LegacyFX doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from LegacyFX are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.
LegacyFX Costs To Check
Modern brokers like LegacyFX provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, LegacyFX may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall LegacyFX trading profitability.
How LegacyFX Fees Compare Against Other Brokers
|CFD Commission Fees
LegacyFX Minimum Deposit
LegacyFX requires a minimum deposit of 500 GBP/USD/EUR when opening an LegacyFX trading account.
A minimum deposit is the minimum amount of money required by LegacyFX to open a new online brokerage account with them.
Don't be scared off by brokers like LegacyFX charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.
In the trading world, brokers like LegacyFX, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.
Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.
LegacyFX Withdrawal Fees
The fees for withdrawing funds from your LegacyFX account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your LegacyFX withdrawal request is important.
LegacyFX Withdrawal rules may vary across different brokers when it comes to transferring funds from your LegacyFX or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with LegacyFX may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.
In addition, currency conversion fees may apply if the LegacyFX withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from LegacyFX. Researching and comparing LegacyFX withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing LegacyFX funds frequently or dealing with large sums of money. Awareness of these LegacyFX fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your LegacyFX funds.
For example, LegacyFX allows you to withdraw your funds to Bank Wire transfer, Debit cards, Visa, MasterCard, Neteller, Skrill, Cryptocurrency.
LegacyFX Inactivity Fees
LegacyFX does not charge a fee for inactive accounts.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by LegacyFX terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.
Make sure you're fully aware of all LegacyFX fees and services. It's recommended that you check the LegacyFX website before signing up. If you decide to close your LegacyFX account, it's important to do so with the LegacyFX broker customer support and obtain confirmation that no remaining LegacyFX fees are due.
Brokers like LegacyFX must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.
LegacyFX Deposit Fees
LegacyFX does not charge deposit fees. Although bank / 3rd party merchant fees may apply.
Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.
Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.
LegacyFX Commission Fees
LegacyFX does charge commission on CFD instruments.
Brokerage firms like LegacyFX may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the LegacyFX trading account level held by the trader.
LegacyFX may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing LegacyFX terms and conditions to understand the commission fees and any other charges that may apply is essential.
What can you trade with LegacyFX?
It's essential to note that the trading instruments offered under the LegacyFX brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the LegacyFX trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can trade a wide variety of instruments with LegacyFX over 200 instruments in fact.
If you want to trade currency pairs on global Forex markets, LegacyFX offer over 60 currency pairs.
LegacyFX Compared To Other Brokers
How LegacyFX Trading Options Compare Against Other Brokers
|MT5, Desktop platform, Web platform, Tablet & Mobile apps
|MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android
|MT4, MT5, Mac, Web Trader, Tablet & Mobile apps
|Web Trader, Tablet & Mobile apps
|FX / Currencies
|Forex pairs offered
|Major Forex pairs
|Minor Forex pairs
|Exotic Forex pairs
|Cryptocurrencies (availability subject to regulation)
|Indiced & Stock CFDs
Your capital is at risk
Visit IC Markets
Losses can exceed deposits
Losses can exceed deposits
76% of retail investor accounts lose money when trading CFDs with this provider.
Trading on LegacyFX web platforms and other applications
LegacyFX provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.
LegacyFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.
LegacyFX is one of a handful of brokers that offer the cTrader platform developed for traders. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.
A LegacyFX iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.
LegacyFX also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.See LegacyFX's platforms
Is the LegacyFX Trading Platform Secure?
You should take the security of your personal information seriously and check SSL encryption is enabled on the LegacyFX trading platform to protect you on PC and mobile LegacyFX platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using LegacyFX web trading platforms.
LegacyFX Trading Platform Options
After logging into your LegacyFX account, you'll find a range of trading platform options available below.
- MetaTrader 5 (MT5)
Please note that LegacyFX does not support the popular MetaTrader 4 (MT4) trading platform. However, if you're looking for a broker offering MT4, you can explore other options available through various online platforms here.
Let's explore each of these trading platforms in detail and what options LegacyFX gives you.
LegacyFX & MetaTrader 5 AutoChartist
Autochartist on the LegacyFX platform is a powerful tool designed to help traders find trading opportunities quickly and easily.
Available for LegacyFX MetaTrader 4 and MetaTrader 5 Autochartist can scan the market using an expert advisor script.
With Autochartist, LegacyFX traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save LegacyFX users time and makes the trading process more efficient.
The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. LegacyFX traders can navigate the platform and find the information they need to make informed trading decisions.
LegacyFX Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for LegacyFX traders of all experience levels.
LegacyFX MetaTrader 5 (MT5)
LegacyFX MetaTrader 5 (MT5) In Detail
LegacyFX MetaTrader 5 (MT5) is a multi-asset trading platform with an extensive range of trading features and financial research tools. Besides the ability to trade Forex and CFDs, LegacyFX MT5 offers access to trade Futures, Stocks, Algorithmic Trading, ETFs, and Indices. MT5 was launched in 2010 and came with advanced charting tools, additional timeframes, and an updated version of MetaTrader 4.
MT5 on LegacyFX provides the convenience of using automated trading systems and copy trading, giving LegacyFX traders competitive research tools in the financial markets.
You can learn more about the MT5 Platform here. You can also learn more about the differences between MT5 and MT4 here.
Trade LegacyFX MetaTrader 5 WebTrader
Access your LegacyFX MetaTrader 5 accounts from any web browser. MT5 on LegacyFX features a massive range of tools like additional timeframes and the most up-to-date technical indicators to give you all the trading resources you need to trade on and analyze the financial markets.
LegacyFX MT5 Buying and Selling
LegacyFX MetaTrader 5 on iOS Devices
LegacyFX MetaTrader 5 Can Operate on newer iOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. You should upgrade the iOS MetaTrader 5 app regularly. New versions provide improved functionality and increased stability. LegacyFX MetaTrader 5 allows traders to look at market statistics of financial instruments traded in the market execution mode.
LegacyFX MetaTrader 5 on Android Devices
The LegacyFX MetaTrader 5 trading platform is available on Android smartphones or tablets powered by the Android 5.0 or higher operating system. Additionally, to connect to the LegacyFX trading server. Take the time to understand all of the LegacyFX Android MetaTrader 5 features. With LegacyFX MetaTrader 5 for Android, you can trade various financial instruments anytime, anywhere.
LegacyFX Metatrader Mobile Application Features
MetaQuotes, the developers of Metatrader, have listened to the feedback of their millions of users and have built what has become one of the most popular mobile trading platforms in the world. MetaTrader features include :
- LegacyFX Financial instrument quotes
- View in-depth price charts of financial instruments with LegacyFX MetaTrader
- Manage trades and open positions on LegacyFX MT4 & MT5
- View your LegacyFX trading history
- View market news
- MetaTrader internal messaging on LegacyFX
- View and research market statics of LegacyFX financial instruments
- LegacyFX Position opening and closing
- Lookup symbols in the LegacyFX MetaTrader quotes section
- Display of deals on LegacyFX graphs
- LegacyFX Timeframe selection for graphs and charts
- Additional vertical scaling of LegacyFX graphs
- Capability to transfer LegacyFX accounts to other devices using QR codes
- Information is available only if it's supplied by LegacyFX
- Access the OTP generator through FaceID or fingerprint with LegacyFX
LegacyFX MetaTrader 5 Advanced Trading Tools
LegacyFX MetaTrader 5 has many advanced trading tools for more advanced users. Understanding these tools can give you a competitive edge.
- LegacyFX MT5 Depth of market bids and asks
- Financial Price Data on LegacyFX
- Margin Calculation, Futures, Forex on LegacyFX
- Advanced Techincal Analysis on LegacyFX MT5
- One click trading on LegacyFX MT5
- LegacyFX Spreads
- LegacyFX Futures
- LegacyFX Trading Reports
LegacyFX cTrader In Detail
LegacyFX cTrader is a versatile trading platform supporting Forex and CFD brokerages. With various features, it caters to every investment taste.
LegacyFX offers cTrader Premium Charting and Manual Trading Platform
LegacyFX cTrader is a top-of-the-line multi-asset trading platform that provides advanced order types, charting tools, LegacyFX level II pricing, and fast execution. The LegacyFX cTrader platform's intuitive dashboard is accessible from various devices, making it a state-of-the-art infrastructure for LegacyFX traders.
cTrader Copy available on LegacyFX
LegacyFX cTrader Copy empowers everyone on the LegacyFX platform to share their investment and trading strategies for a fee or commission. LegacyFX cTrader users can search and replicate the approaches available when investing. Furthermore, LegacyFX traders can use their risk management configurations.
cTrader Automate available on LegacyFX
cTrader Automate allows LegacyFX traders to create algorithmic trading robots to automate financial trading plans. Dealers can use cTrader's contemporary C# API to write code within the LegacyFX cTrader IDE, which allows developers to optimize and test their financial robots.
cTrader Open API available on LegacyFX
Build your LegacyFX trading software using cTraders Open API. It is a free, secure and publicly available API for all. LegacyFX developers can use cTrader's mature infrastructure to construct desktop, mobile and online software. The open API allows LegacyFX trading developers to interact and interface with any LegacyFX cTrader account.
LegacyFX Trading benefits
- LegacyFX Allows scalping
- LegacyFX Offers STP
LegacyFX Trading Accounts Offered
Below we give an overview of the account types that LegacyFX offer. Whatever you are looking to trade, the varying LegacyFX account types will be able to provide you with what you need.
- LegacyFX Demo account
- LegacyFX Standard account
- LegacyFX STP account
- LegacyFX Islamic account
Can I try LegacyFX?
LegacyFX provides a demo account that enables individuals to explore trading before investing their funds. By creating a LegacyFX practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the LegacyFX demo account can help individuals to make informed decisions before investing their money.
Your capital is at risk
LegacyFX withdrawal and funding methods
It's essential to remember that the payment methods provided by LegacyFX vary based on the LegacyFX entity and the LegacyFX client's country of residence. To view the LegacyFX payment options available, you can log into your LegacyFX member's area.
LegacyFX offers various funding payment methods listed in your LegacyFX dashboard if available in your region. To learn more about the LegacyFX funding and withdrawal options available in your area, you can explore the LegacyFX website.LegacyFX provides several payment methods for funding your LegacyFX account. You may utilize any of these deposit options if they are available in your region. LegacyFX ensures that users have multiple payment methods to choose from, making it more convenient for verified LegacyFX account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the LegacyFX user's location. learn more about LegacyFX funding and withdrawal methods.
LegacyFX Payment MethodsSome LegacyFX payment methods are local and are available only to specific regions. LegacyFX account holders should check which payment methods are provided in your region.
- LegacyFX accepts Bank Wire transfer
- LegacyFX accepts Debit cards
- LegacyFX accepts Visa
- LegacyFX accepts MasterCard
- LegacyFX accepts Neteller
- LegacyFX accepts Skrill
- LegacyFX accepts Cryptocurrency
*please note available LegacyFX and other broker payment methods depend on the clients country of residence.
How can I start trading with LegacyFX?
To open a trading account with LegacyFX, individuals can sign up on the LegacyFX website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.
The next step involves submitting identification documents for LegacyFX account validation and making a deposit. Once completed, LegacyFX users can download the trading platform of their choice.
It's important to note that LegacyFX requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps LegacyFX maintain a trustworthy financial environment for its 1,000 users. Detailed information on the LegacyFX trading platforms is available on their website.
Your capital is at risk
Performing trades with LegacyFX
When using LegacyFX, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. LegacyFX have a max trade of varies. With STP execution on the LegacyFX platform, traders can anticipate tighter spreads and greater transparency when it comes to trade pricing.
Like other brokers, LegacyFX margin requirements can differ depending on the traded instrument.
CFD Trading on LegacyFX
We will show you an example of the basics of using LegacyFX leverage.
CFD trading on LegacyFX allows traders to speculate on the price movements of various financial instruments against the broker LegacyFX, without actually owning real assets. With CFDs, LegacyFX traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.
LegacyFX provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.
The effect of leverage on profits and losses magnifies them in both directions. In other words, LegacyFX leverage profits and losses are magnified when trading. For instance, using CFDs, you use the LegacyFX trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.
On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, LegacyFX leverage magnifies both profits and losses in trading.
Trading CFD trades on the LegacyFX platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.
Experienced LegacyFX traders can trade high risk CFD trades to hedge items in their portfolio.
Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk
Education Resources at LegacyFX
To trade effectively with LegacyFX, it's important to have a good understanding of the LegacyFX trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with LegacyFX and externally.
LegacyFX . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with LegacyFX. Familiarizing yourself with the LegacyFX trading platform is crucial to use it effectively.
While learning, you can also use global trading times to practice making live buy or sell trades using LegacyFX. This hands-on experience can help you gain confidence and become more comfortable with trading.
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with LegacyFX involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
Learning about the financial markets, trading platforms like LegacyFX, and risk management techniques can help you become a more confident and successful trader.
While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with LegacyFX, before live trading.
Customer Support at LegacyFX
As part of our LegacyFX review, we review customer service options, response times and problem resolution effectiveness on the LegacyFX trading platform. The LegacyFX trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
LegacyFX Available Support Types
Based on our experience, we have given LegacyFX a D grade for customer support. We encountered some slow response times or LegacyFX queries that were left unanswered.
Compared to other brokers, LegacyFX offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.
Livechat Support at LegacyFX
Our team tested the live chat support of LegacyFX and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.
In addition, we tested LegacyFX support services in various countries and languages and found that LegacyFX were able to effectively resolve our customer issues.
Email Support at LegacyFX
We tested the email support of LegacyFX by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any LegacyFX response.
The LegacyFX team did resolve and answer our queries, but the email support from LegacyFX was overall average compared to other brokers we have tested.
Phone Support at LegacyFX
We contacted LegacyFX via phone and received quick assistance within 10 minutes of our call.
The LegacyFX phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by LegacyFX and found that they could assist us in various languages.
While we found the LegacyFX phone support satisfactory, there is room for improvement in response time.
See how LegacyFX Support Compares Against Other Brokers
|English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian
|English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
|English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian
|English, German, Spanish, French, Italian
|Visit IC Markets
|Your capital is at risk
|Losses can exceed deposits
|Losses can exceed deposits
|76% of retail investor accounts lose money when trading CFDs with this provider.
What you will need to open an account with LegacyFX
As LegacyFX is regulated by Vanuatu Financial Services Commission (VFSC) license number 14579.
As a new client of LegacyFX, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with LegacyFX in your region. During the LegacyFX account opening process, you will be asked to provide LegacyFX with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.
When registering with LegacyFX have the following documents available.
- LegacyFX require a scanned colour copy of your passport, driver's license or national ID card.
- A recent utility bill or bank statement that confirms your residential address for LegacyFX compliance. This must be dated within the last six months.
- If you plan to fund your LegacyFX account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the LegacyFX platform.
It's worth noting that the expiration date of the proof of address document may differ for different entities under LegacyFX Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring LegacyFX's platform.
However, remember that you won't be able to make trades on LegacyFX until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the LegacyFX KYC compliance process as soon as possible to avoid any delays in accessing the LegacyFX platform's features.
It is important to note that LegacyFX may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the LegacyFX platform and features immediately. However, you must pass the verification process to start live trading with LegacyFX, which can take up to a few business days.
To start the process of opening an account with LegacyFX you can visit the LegacyFX trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.
CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.legacyfx.com/ on March 01, 2024.
Watch this LegacyFX Explainer Video
Is LegacyFX A Good Broker?
We have spent over 5 years examining LegacyFX in depth. Although we found some very useful aspects of the LegacyFX platform that would be useful to some traders. We feel that a alternative to LegacyFX may better suit you.
- LegacyFX have a good track record of offering Forex trading, CFD Commodities Trading, CFD Indices trading, CFD Stocks Trading, Cryptocurrency trading, CFD Trading.
- LegacyFX has a history of over 12 years.
- LegacyFX has a reasonable sized customer support of at least 10.
- LegacyFX are regulated by the Vanuatu Financial Services Commission (VFSC) license number 14579. LegacyFX is subject to strict regulatory oversight from its respective jurisdiction, which holds LegacyFX (the broker) accountable for misconduct. This regulatory framework helps ensure that LegacyFX operates fairly and transparently and provides LegacyFX customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and LegacyFX.
- LegacyFX have regulation from reputable regulators.
- One of the advantages of using LegacyFX is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from LegacyFX are particularly important as LegacyFX traders want to receive their money quickly. With the efficient LegacyFX payment processing system, traders can enjoy faster access to their LegacyFX funds.
- LegacyFX have an international presence in multiple countries. Including local LegacyFX seminars and training.
- LegacyFX can hire people from various locations in the world who can better communicate in your local language.
LegacyFX Risk Disclosure
Your capital is at risk
Trading Risk Disclaimer
Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.
You will be exposed to a high risk of loss regarding leverage and margin-based trading.
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.
LegacyFX not quite right?
If after reading this LegacyFX review, LegacyFX does not fulfill your needs check out these LegacyFX Alternatives.
We have spent years researching the best alternatives to LegacyFX. Click the links below to learn more.
After extensive research over several years, we have compiled a list of the most effective LegacyFX alternatives available today. If you are unsatisfied with LegacyFX or want to explore other options, we recommend checking out our carefully curated list of highly-rated LegacyFX alternatives. Follow the links below to learn more about these LegacyFX broker alternatives and choose the one that best suits your trading needs.
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Related LegacyFX Vs Comparisons
Throughout our comprehensive LegacyFX review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.
If you're interested in comparing LegacyFX against other popular brokers in the industry, check out our LegacyFX Vs pages. Our team has compiled a series of detailed LegacyFX comparison articles, pitting the LegacyFX platform against some of the best-rated LegacyFX competitors in the market. Dive into our informative LegacyFX Vs pages below to find out how LegacyFX stacks up against other leading brokers.
- LegacyFX vs ICMarkets
- LegacyFX vs Roboforex
- LegacyFX vs eToro
- LegacyFX vs XTB
- LegacyFX vs XM
- LegacyFX vs Pepperstone
- LegacyFX vs AvaTrade
- LegacyFX vs FPMarkets
- LegacyFX vs NordFX
- LegacyFX vs easyMarkets
- LegacyFX vs SpreadEx
- LegacyFX vs FxPro
- LegacyFX vs Plus500
- LegacyFX vs AdmiralMarkets
- LegacyFX vs ThinkMarkets
- LegacyFX vs FXPrimus
- LegacyFX vs Trading212
- LegacyFX vs ForexMart
- LegacyFX vs Eightcap
- LegacyFX vs ForTrade
- LegacyFX vs InteractiveBrokers
- LegacyFX vs Forex.com
- LegacyFX vs IG
- LegacyFX vs Robinhood
- LegacyFX vs Coinbase
- LegacyFX vs Binance
- LegacyFX vs ETXCapital
- LegacyFX vs CoreSpreads
LEGACYFX Frequently Asked Questions
Read our detailed LegacyFX FAQ Section updated for 2024.
Can I try LegacyFX?
What funding methods do LegacyFX accept?
Please note that the list of payment methods below depends on the LegacyFX Entity and the client's Country of Residence.
LegacyFX offer the following funding payment methods Bank Wire transfer, Debit cards, Visa, MasterCard, Neteller, Skrill, Cryptocurrency, among other payment methods.
Learn more here
Is LegacyFX safe?
LegacyFX have over 1,000 users. LegacyFX are considered reliable as they are regulated by and checked for conduct by the Vanuatu Financial Services Commission (VFSC) license number 14579. Any payments funded to LegacyFX accounts by traders are held in a segregated bank account. For added security,LegacyFX use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with LegacyFX is risky, and because the market is so volatile, losses could happen at any time. Do not invest with LegacyFX unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Your capital is at risk
Is LegacyFX trading good?
LegacyFX is considered good and reputable to trade with LegacyFX. LegacyFX is used by over 1,000 traders and LegacyFX users. LegacyFX offers Forex trading, CFD Commodities trading, CFD Indices trading, CFD Stocks trading, Cryptocurrency trading, and CFD trading. Minimum deposit with LegacyFX is 500.
Is LegacyFX trading Legit?
LegacyFX was founded in Cyprus in 2012. LegacyFX has been facilitating trade on the financial markets for over 12 years. LegacyFX offers clients Forex trading, CFD Commodities trading, CFD Indices trading, CFD Stocks trading, Cryptocurrency trading, and CFD trading. All funds deposited to LegacyFX are held in segregated bank accounts for security. LegacyFX is regulated by Vanuatu Financial Services Commission (VFSC) license number 14579 so can be considered legit.
Is LegacyFX a good broker?
LegacyFX allows Forex trading, CFD Commodities trading, CFD Indices trading, CFD Stocks trading, Cryptocurrency trading, and CFD trading. LegacyFX is overseen by the top tier financial regulators Vanuatu Financial Services Commission (VFSC) license number 14579 so can be considered a good broker.
Is LegacyFX trustworthy broker?
LegacyFX is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to LegacyFX, money is in a segregated bank account that is separate from LegacyFX company's funds. As a regulated broker, LegacyFX cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by LegacyFX. Instead, your LegacyFX funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with LegacyFX. Also LegacyFX is regulated in its local jurisdictions including major financial regulators like Vanuatu Financial Services Commission (VFSC) license number 14579.
What is the minimum deposit for LegacyFX?
The minimum deposit to trade with LegacyFX is 500.
How long do LegacyFX withdrawals take?
Withdrawing money from LegacyFX processing time varies depending on the method but averages 1-5 days.
Is LegacyFX regulated?
LegacyFX is regulated by the Vanuatu Financial Services Commission (VFSC) license number 14579. Regulatory bodies conduct regular reviews and audits as part of LegacyFX maintaining their regulatory status. You can learn more about these reviews on the regulator websites.
Is LegacyFX a market maker?
LegacyFX is a market maker. Stocks, currency and other commodities and instruments will be brought or sold by LegacyFX even if no buyer or seller is lined up.
How can I start trading with LegacyFX?
When opening a trading account with LegacyFX, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on LegacyFX trading platforms, you can follow the link provided below: Learn more about signing up with the LegacyFX trading platform here. This will provide useful information and insights into the various trading platforms offered by LegacyFX, enabling you to make an informed decision about which platform to choose for your trading needs.
Is my money safe with LegacyFX?
Yes your money is safe with LegacyFX.
Overall, strict financial regulation is essential for ensuring that trading platforms like LegacyFX operate fairly, transparently, and responsibly, which ultimately benefits all LegacyFX stakeholders involved.
Trading platforms like LegacyFX must have strict financial regulation for several reasons:
- Protecting LegacyFX Investors: Strict financial regulation ensures that investors who use the LegacyFX trading platform are protected against fraudulent or unethical behavior by the LegacyFX platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the LegacyFX platform.
- Maintaining LegacyFX Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the LegacyFX trading platform. Regulatory procedures reduce the likelihood of the LegacyFX platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
- Enhancing LegacyFX Transparency: Regulations require trading platforms like LegacyFX to maintain detailed records and disclose LegacyFX client information. Financial regulatory requirements enhances transparency and helps to build trust between the LegacyFX platform and its investors.
LegacyFX is regulated by the Vanuatu Financial Services Commission (VFSC) license number 14579. 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. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, LegacyFX ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like LegacyFX.
Is LegacyFX a con?
LegacyFX is regulated and well established, having been in business for over 12 years. LegacyFX is not a con.
Can you make money with LegacyFX?
Although traders have had great success with LegacyFX, trading on the financial markets with LegacyFX is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.
Does LegacyFX have fees?
LegacyFX withdrawal fees vary on payment method.LegacyFX doesn't charge inactivity fees. LegacyFX doesn't charge deposit fees.
When was LegacyFX founded?
LegacyFX was founded in 2012.
How many people use LegacyFX?
LegacyFX is used by over 1,000 registered LegacyFX users.
What is LegacyFX Headquarters country?
LegacyFX has its head quarters office in Cyprus .
Does LegacyFX offer negative balance protection?
LegacyFX does not offer negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.
Does LegacyFX offer guaranteed stop loss?
LegacyFX does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.
Does LegacyFX allow scalping?
LegacyFX offers scalping.
Does LegacyFX allow hedging?
LegacyFX does not offer hedging.
Does LegacyFX offer CFD trading?
LegacyFX offers CFD trading.
Does LegacyFX offer STP?
LegacyFX offers STP trading.
How many people use LegacyFX?
LegacyFX is used by over 1000 LegacyFX users and traders.
Is LegacyFX an ECN broker?
LegacyFX does not offer ECN trading.
Does LegacyFX offer a demo account?
LegacyFX offers a demo account.
Does LegacyFX offer an Islamic account?
LegacyFX offers an Islamic account.
What are the funding methods for LegacyFX?
Please note that funding methods and options available with LegacyFX can be found in the LegacyFX Members area and depend on the LegacyFX client’s country of residence. Please check your specific available payment methods on the LegacyFX website. LegacyFX accept the following funding methods : Bank Wire transfer, Debit cards, Visa, MasterCard, Neteller, Skrill, Cryptocurrency.