LegacyFx: Forex Broker Review, May 2025

Both the website and the various versions of the MT5 platform are highly user-friendly and easy to navigate. The website clearly displays all the important information you might need, and it is easy to find your way around. The broker offers a transparent trading model with no hidden commissions and no swap fees on positions held overnight. This means, of course, that the broker’s profit is coming primarily from the spreads, so your trading costs will be dependent on these.

The MiFID and FCA-compliant broker is regulated by CySEC, VFSC, NBRB, and others. In general, this broker has a clean regulatory record and its transparency is acceptable. LegacyFX provides traders with MetaTrader5, and its clients can trade over 200 financial instruments using the desktop and mobile platforms. PREMIUM account holders pay low trading fees as spread markups on EUR/USD start from 0.6 pips. There are 7 protected trades offered and traders get additional benefits such as advanced mentoring. The minimum deposit requirements are high though and traders will need to deposit 25,000 USD or more to get access to this account.

LegacyFx plays the support game well, offering help through phone, email, and live chat. They’re like that reliable friend who’s always there, whether you need a shoulder to cry on at 3 AM or just some quick advice. Their support team is known for being both responsive and helpful, a rare breed in the wild world of customer service. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries.

The mobile apps offer a reasonable amount of customisation and are definitely a convenient way of trading on the go. However, there is also a web-based version of the platform, which can be accessed from any device, via any compatible cmc markets review browser, so mobile trading without the app is also possible. For those looking for an affordable trading experience with minimal costs, LegacyFX may be a good fit for them.

• The Bronze Account is ideal for traders looking to develop their skills with enhanced resources and additional analytical tools.
• This allows them to take advantage of various trading opportunities without having to worry about delays in processing payments or high fees charged by intermediaries.
• It is not ideal if there is some market news that I want to try and quickly capitalise on.
• LegacyFX is one of the most trusted and transparent brokers in the industry.

Its competitive spreads, swap-free accounts, and flexible trading conditions make it a good fit for traders seeking cost-effective solutions and diverse account options. Features like negative balance protection and segregated client funds also ensure added security, appealing to risk-conscious investors. Multi-asset trading specialist, LegacyFX, is one of the industry’s most promising brokers. But, in 2017, the company rebranded and relaunched its services under new management, established itself as a leader in the industry.

In order to be able to open the GOLD account, traders need to deposit at least 5,000 USD. Traders get 5 protected trades, direct dealing desk trading, access to stock trading, and several other benefits. LegacyFX’s mobile trading apps are below average, offering basic functionality but lacking the robust features seen in higher-rated brokers. You can reach LegacyFX’s responsive customer support team through various channels, including live chat, email, and phone. LegacyFX offers features like stop-loss orders and price alerts to help traders manage risk effectively.

Limited Research Tools for Advanced Traders

Please ensure that you have provided accurate responses before submitting your application. Based on the response provided, your investment profile does not meet our internal criteria for opening a trading account with us. Best experience of my life since i joined hands to forex, there signals free support and analysis are top notch at power. Tackle the cryptocurrency market with superior functionalities and trading tools. Selecting a safe and reliable broker is critical for successful currency and CFD trading. Rules and guidelines are set in place by regulators to protect investors from fraudulent behavior from brokers.

• This broker does offer both a fixed spread option and a variable spread option.
• All deposits are held in segregated accounts, ensuring that trader funds are not mixed with the broker’s operational accounts.
• The spreads of the LegacyFX are quite competitive when compared to other brokers in the industry.
• LegacyFX customers will find that user experience is a high priority at this brokerage.

Wide Range of Tradable Assets

International Deposit options include Visa, Neteller, Skrill, and Wire Transfer. All Legacy FX withdrawal requests submitted – regardless of the withdrawal method chosen – will be processed within 3-5 business days. Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.

Does LegacyFx provide educational and research resources for traders?

LegacyFX offer technical analysis videos from their in-house experts who analyse the market trends. I found the analysis to be very useful and was actually made aware of some possible trade setups that I may have otherwise overlooked. I would just be sure to confirm any analysis with my own trading strategy.

Social Trading

Overall, such tools can greatly aid in enriching your own personal knowledge of not just our platforms and systems but on trading in these markets as a whole. LegacyFX provide dedicated 24-hours customer support via phone, chat and email. The broker values customers and are happy to answer all general, technical and account related questions that you may have. They also appreciate hearing how they can improve the support available to traders. I have always been pleased with the support and like how they have taken the time to respond to both positive and negative feedback online. The brokers website has a section with tutorial videos on demand that cover a variety coinberry review of trading topics including an introduction to forex trading and social trading.

In this review, you will find information about the products and services they offer. We will also be talking about the pros and cons of this particular broker to help you deduce whether this broker is right for you. LegacyFX also does not offer a welcome bonus or deposit bonus or the advantage of a no-deposit bonus when traders register a real account for the first time.

Furthermore, traders should adopt prudent risk management practices, including the strategic use of stop-loss orders and meticulous position sizing when engaging in margin trading. By doing so, they can harness the benefits of low margins while mitigating potential downsides, ensuring a more controlled and informed approach to trading. While the Standard Account starts at $500, higher-tier accounts require substantial minimum deposits, such as $25,000 bitmex review for the Premium Account and $50,000 for the VIP Account.

When withdrawing funds, using cards and wire transfers can involve a delay of up to three days. Those looking to double-check what fees might be applied can take advantage of the easy-to-read T&Cs section of the broker’s site. The area of the site where you can complete the application is found by clicking on the ‘Trade Now’ button on the broker’s homepage. The account opening process at LegacyFX follows a similar format to other regulated brokers. The first step is determining which of the two entities of the firm you want to sign up with and clicking the appropriate button when prompted. 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).

Legacy FX Review: A broker with a wide range of commission-free account types

They have a decent selection of account types, funding options, trading instruments, educational materials and robust trading tools to asset with your market analysis. The broker has a good selection of educational resources and additional trading tools to assist traders with their daily trading activities. The LegacyFX trading conditions are very competitive, with reasonable spreads from 0.6 pips, low fees and rapid trade execution speeds at the best available prices. I think they can be a decent choice of broker for anyone looking to trade online with minimal fuss in a regulated environment.

However, account holders will still enjoy all of the benefits of all the account types offered by LegacyFX, their same spreads and same trading conditions. To apply for an Islamic account, you can open the account type you wish according to your deposit and contact your account manager to activate it. MT5 supports the trading of various asset classes, including currencies, stocks, futures, bonds, and options. It provides traders with many charting capabilities and necessary tools for technical analysis.

Each account offers tailored features, such as premium trading tools and swap-free options. They welcome clients from all back grounds and have a very helpful support team on hand 24 hours a day to assist with any questions that you may have. LegacyFX has a wide range of tutorials and courses covering all levels, from beginners to experienced traders. There are live webinars examining main events in the market and analysing different approaches.

There is also a variety of convenient deposit and withdrawal methods to choose from, including popular e-Wallets for quick and easy account funding. Spreads are competitive, starting at 0.5 pips on some instruments, and execution is instant, with no requotes. LegacyFX uses segregated accounts for client funds and offers negative balance protection. This broker uses the widely respected, award-winning MT5 trading platform, which is considered to be the world’s leading platform for retail forex traders.