Founded in 2014, LegacyFX is an online forex and CFD broker that currently owned and managed by a Cyprus Investment Firm called A.N. Operated in accordance to the strict regulatory guidelines imposed by CySEC, LegacyFX offers its clients the assurance that their money will be safe with the broker and it will be handled professionally.
The minimum spread of as low as 0.6 pips is available to Platinum account traders only. To get the spread, traders should invest a minimum of $25,000 deposit. LegacyFX offers MT5 platforms for trading that allows traders to engage in AI trading. This platform is user-friendly and rich with trading tools & features. We have carried out an extensive review of this company and found it legit and recommendable.
It is obviously a no-download solution, and it offers integrated charting, news feeds, live support and technical indicators. The broker features a full range of trading platforms, meaning that its platform selection covers every OS and device type a trader may decide to use. Most importantly, the broker is regulated by five top regulatory bodies that cover most European countries, Middle East Asia, and Sub-Saharan Africa. That fact alone is an excellent reason to trade forex with this broker.
While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice. LegacyFX claims to be a trusted broker, providing a wide range of products and services for traders worldwide since 2017. Their trading conditions are among the tightest spreads in the market, starting from only 0.5 pips. Legacy FX gives the keys to access the forex market 24 hours a day, 5 days a week, allowing users to trade the most popular major, minor and exotic currency pairs. LegacyFX provides traders with MetaTrader5, and its clients can trade over 200 financial instruments using the desktop and mobile platforms.
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Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions. LegacyFX offers several trading accounts, depending on the initial deposit amount.
Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. The MetaTrader 5 mobile trading app provided by LegacyFX is covered in more detail in the video review. LegacyFX offers users the ability to trade on the MetaTrader 5 mobile app for Android and iOS users. These can be downloaded directly from the Apple App Store or Google Playstore.
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- Traders can instantly react to trading signals and alerts thanks to its remarkable platform.
- 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.
- However, it’s essential to know that the broker doesn’t accept traders from the US and Canada.
- Another strength of the MT5 platform is its chart-based trading along with its position keeping.
The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite.
It is also stated that completion timescales for banking transactions can vary depending upon your banking provider, so it is good to check individually with your provider before you begin the withdrawal process. There is no specific mention of Skrill and Neteller timescales although typically speaking, these are usually the faster options. You may withdraw your funds and profits from LegacyFX via Card, Wire Transfer, Neteller or Skrill. Withdrawal fees are not charged by LegacyFX but be sure to check with your banking provider before requesting any withdrawals, as they may apply their own charges.
Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty. Often, the number and type of accounts that a trader can open with a broker company differs depending on the country in which it operates and the regulation authorities under whose jurisdiction it falls. Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss. LegacyFX is a regulated broker, mainly under the CySEC body, with a licence number of 344/17.
The LegacyFX provides Sharia-biddable accounts for traders of the Islamic faith. These accounts have specific rules concerning Riba, and they are swap-free. The broker seems to be very transparent in its dealings, and it circulates regular market discipline and its annual reports for traders to see.
Another bonus is that these mentorships are free of charge, and all in one place. These minimum deposit requirements first and foremost indicate quite strongly the ideal level of experience a trader must have before opening the account. The FAQ page shed some light on trading fees or lack thereof; https://broker-review.org/ offers the luxury of trading without being charged any commission fees or even swap fees.
—- /r/Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you’ll find available in chat.
This means that the operator is compliant with MiFID, which gives it the theoretical right to sell financial services all through the EEA. The broker has a selection LegacyFX of trading calculators to assist traders with money management and planning of trades. There is a Pivot Calculator, Fibonacci Calculator and Deal Size Calculator.
The software enjoys increasing popularity among both brokers and traders in recent years for a number of reasons. The MT5 has kept most of MetaTrader 4’s valued tools and features – the charting is almost the same as that of its predecessor, and it also provides Expert Advisors for automated trading. On top of that the MT5 allows trading in exchange-traded stocks and derivatives from one and the same account. The BrokerTribunal project appeared on the Internet in the summer of 2018 and is a platform for posting traders’ feedbacks and opinions about forex brokers. The aim of the project is to shed light on the activities of investment companies that fail to comply with their earlier obligations to their clients and misleading them.
Legacyfx Review: Deposit & Withdrawal
The names, products, services, branding/logos, and other trademarks or images featured or cited within this website are the property of their respective owners and the owners retain all legal rights therein. 81% of retail investor accounts lose money when trading CFDs with this provider. 73% of retail investor accounts lose money when trading CFDs with this provider. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider.