LegacyFX Comprehensive Review
LegacyFX is a multi-asset forex and CFD broker that has been operating since 2015. Since then, it has established itself as a leader in financial services, products, and trading.
Established in Larnaca, Cyprus, LegacyFX has additional operations across several jurisdictions to better serve its growing global clientele base.
LegacyFX prides itself on transparency by openly divulging all aspects of its offerings while maintaining a high level of service and satisfaction. Overall, the company provides traders with access to competitive spreads and an extensive range of over 2,000 assets including forex, shares, commodities, cryptos, and indices.
Regulations
LegacyFX is registered and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 344/17. In addition, LegacyFX holds other licenses to serve its client body from different jurisdictions. This includes registrations from the financial services regulators in areas such as Vanuatu (VFSC), Germany (BaFIN), the United Kingdom (FCA), and Belarus (NBRB).
This multi-regulation ensures that customer assets are protected and obliges the brokerage to comply with risk management, training, accounting, and audit requirements. Overall, they ensure that LegacyFX upholds the highest possible standards in relation to its customers and services.
Trading Platform
LegacyFX offers its traders the best possible method to access financial markets, through the advanced Meta Trader 5 trading platform. This platform is conveniently provided to customers through mobile, web-based, and PC portals.
This allows for diversification of its numerous offerings and features such as:
- Real-time signals
- Interactive charts, e-books, videos, and educational materials
- Live chat & support references
- Full trading & transactions review
- Numerous deposit and withdraw options
- Automated account creation and KYC verification
Additionally, LegacyFX provides access to third-party applications and add-ons, such as Autochartist and Trading Central.
Instruments
LegacyFX provides an extensive portfolio of tradable assets, which includes +2,000 instruments spanning forex, stocks, commodities, indices, cryptocurrencies, and metals. Overall, this expansive range of available product classes allows clients greater portfolio diversification.
Account Types
From the very beginning, clients can register for a demo account. These accounts let inexperienced traders test out LegacyFX’s trading system, offerings, and platform without risking their own capital. However, limitations arise in terms of withdrawing and additional features available on these accounts
To truly benefit from all the resources LegacyFX has to offer, real accounts must be opened by depositing funds into a real or live trading account. Based on the amount deposited, one’s account is then classified under one of seven account types.
Each account type offers increasing resources ranging from charting tools, mentoring, direct access lines, analysis tools, and more. Finally, clients with high trading volumes and deposits are eligible for premium services through LegacyFX’s VIP Account.
Additionally, LegacyFX provides novice clients with the opportunity to invest with experienced traders through its PAMM Account system. This trading system allows one to invest with an established trader and obtain earnings based on their documented results.
Education
Novice traders are very much welcomed at LegacyFX. This is namely shown through the company’s education tools, allowing even the most inexperienced to learn through various resources and industry professionals.
Whether it be insights on current market trends via Telegram, educational reading material through interactive e-books, webinars, or YouTube video series, the company strives to provide its clientele a thorough understanding of the world of forex and CFDs.
Support
LegacyFX provides multilingual customer support through numerous contact methods. In case the need arises, LegacyFX ensures easy access to live chat, E-mail, and a toll-free phone line in addition to its FAQ centre and Glossary sections on its website.
Additionally, the company does not shy away from providing its clientele with outside resources, articles, and tools to help advise and aid in whatever needs its clients may face.
Promotions
Where available (based on the jurisdiction), LegacyFX presents traders with referral, affiliate, IB, partnership and loyalty promotions if eligibility criteria are met.
Opening an Account
Opening a trading account at LegacyFX is straightforward, requiring only the submission of some personal information and a valid email address. Following required account verification, to comply with AML/KYC regulations, one is easily able to start depositing and trading on the platform.
Deposits and Withdrawals
LegacyFX supports numerous payment options depending on one’s jurisdiction and payment method, with little to no fees, ranging from credit cards, e-wallets, and bank transfers.
LegacyFX also offers an easy withdrawal system, directly through its platform or website.
Conclusion
With extensive educational resources, an instrument catalogue that spans a multitude of asset classes, a plethora of analytical and market insights, and an emphasis on service, LegacyFX offers an excellent range of options for all types of traders.
