There are no restrictions when it comes to withdrawing, except if you choose to cash out via wire transfer. It might take a while for your funds to reflect on your account. It’s best to wait up to five to seven business days after your withdrawal request has been approved. Trade more than 6,000 markets without commissions and professional platforms.
LegacyFX charges no swaps on long-term positions, providing ideal conditions for long-term trading and investment. For full protection of investment, LegacyFX operates negative balance protection along with complete segregation of client funds from the company’s assets. Each of the account types brings a particular possibility for your trading strategy while allowing either beginning traders, investors, or professionals to find their own way in trading. Overall our online Legacyfx review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Legacyfx or you find inaccurate details Legacyfx broker review please get in touch with us and the changes will be applied. LegacyFX provide dedicated 24-hours customer support via phone, chat and email.
Overall, there are lots of aspects of this broker that I like and some small areas I think they could improve. I like how LegacyFX is a regulated trading broker with a decent selection of trading instruments for trading on the popular and sophisticated MetaTrader 5 platform across web, desktop and mobile devices. They have a choice of account types to cater to different trader needs, with variable and fixed spreads for all trading strategies. LegacyFX is an intriguing broker as it only offers the MT5 trading platform with a promise of no swap rates on leveraged overnight positions. Retail traders with portfolios below $25,000 must accept higher spreads, but the absence of fees on overnight positions piqued my interest.
It represents a well-balanced collection of trading ideas, but traders should test their accuracy before blindly copying the recommendations. Overall, I can confidently rank the available research at LegacyFX as quality service. I find the seven account types at LegacyFX unnecessarily complex. Equity trading, which I find the best offer at LegacyFX, requires a minimum deposit of $3,000, while access to the direct dealing desk is available from $5,000.
Disclaimer – The Promotion, reviews and other information are written and posted here just for the informational reason only. New clients can benefit from the brokers’ Safe Mode program where you can undo losing trades. I’ve been following your signals before some days .,all his signals were on point and in profit.
Your investment profile does not meet our internal criteria for opening a trading account with us based on the response provided. Please ensure that you have provided accurate responses before submitting your application. They have superb Customer care and support services, am talking trading signals direct to your email, Technical analyses to your inbox, Highly recommendable. To be able to offer trading, you must buy a regulatory license from a country where you want to settle. If you offer trading without licenses, you don’t respect the laws and become a fraudulent broker. Brokers who don’t have regulated licenses like LegacyFX will not give you your money back because they are outlaws.
You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. TopBrokers.com would like to remind you that the data contained in this website is not necessarily real-time nor accurate. A currency trading platform is a software interface provided by currency brokers to their customers to give them access as traders in the Forex markets. This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three. The broker offers more than 200 financial instruments like cryptos, stocks, commodities, FX, and indices.
After conducting some research on various social media platforms , as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with LegacyFx. Based on this user feedback, it appears that LegacyFx is not a trustworthy broker, and hence, extreme caution should be applied before investing through their https://forexbroker-listing.com/ brokerage platform. But I can assure you the bad reviews are not based on nothing. Those guys know how to manipulate facts to get you into wrong trades and/or maybe they are just guessing. Whether you’re just starting out as a trader or you’re a well-seasoned professional, LegacyFX has additional knowledge that can prove to be helpful to you.
LegacyFX extends comparative advantages to all its customers in an effort to provide all traders with additional trading strength and control. You can request a reduction in spreads if you trade enough volume each month. I think this is a nice incentive and appreciate that they advertise this openly. There are many other brokers who will reward you for your loyalty but not all will publicly say this. LegacyFX categorizes its clients into various account types based on their initial deposits. The higher your initial deposit is, the more advantages you can get.
As So Called Account manger makes 10% or more on our deposit. All their trades has commission, they do not care if you lose or win. I am in the process of contacting the Cyprus FCA, and financial ombudsman of Cyprus, to look into my case, and hopefully stop these people from trading, and scamming anyone else. Beware in the U.K.,as they also have a temporary licence to ply their trade in the U.K.,although I have also alerted the FCA in London of their modus operandi.
For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research. As a MetaTrader-only broker, LegacyFX offers a decent variety of instruments with 425 symbols and 41 forex pairs – all available on MT5. LegacyFX’s research offering is close to the industry average. It has a decent library of video content – though the layout feels outdated – but it lacks a solid offering of written articles. LegacyFX has created something it can build on here, but is still far behind the best brokers in this category.
Overall, Legacy actively discourages scalping and short-term trading. It does maintain one of the best trading conditions for traders who intend to hold positions for more than one week. LegacyFX offers traders a choice between variable spreads and fixed spreads, but I cannot recommend the latter, as trading costs remain excessive even without swap rates.
Otherwise, the high spreads and commissions make LegacyFX an expensive broker for scalpers and short-term traders. I appreciate that LegacyFX offers traders the very useful Autochartist plugin, though a minimum requirement of $1,000 is necessary . While it remains within a reasonable range, traders must deposit $3,000 for access to stock trading. This makes LegacyFX more expensive to get started with, but the lack of swap rates makes it a broker worth considering for traders who can afford the required minimum deposit. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
All funds deposited into your trading account must be under the same name as your LegacyFX trading account. This is pretty standard procedure for a regulated brokerage firm. The economic calendar shows the date/time of the latest financial news releases that can have an impact on the various markets around the globe. It displays the previous, expected and actual impact of each release whilst it can also be filtered to only display the news that is relevant to you.
Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.
It you are a beginner and looking for more, IronFX also have a great selection of educational content to help bring you up to speed with the markets. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this legacy fx review site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
The account opening process at LegacyFX is both short and straightforward, and I appreciated the hassle-free process. Traders can complete the application in less than 30 seconds by submitting their name, e-mail, phone number, desired password, and account base currency. It also includes a signature box, which I found interesting. Select one or more of these brokers to compare against LegacyFX. Ebooks lack detail, and the educational user interface is outdated.
I lost my life savings of $260,000.00 STAY AWAY FROM THESE SCUM. I like the trading experience at LegacyFX as this broker does not charge swap rates on leveraged overnight positions. I prefer more client protection in the form of a compensation fund, but overall, LegacyFX presents a secure trading environment.
LegacyFX offer technical analysis videos from their in-house experts who analyse the market trends. These can help inspire trade ideas and assist in decision making. 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.
LegacyFX does not offer deposit bonuses but maintains a Loyalty Program for affiliates. The structure is a mix of minimum equity, executed trades, and referred traders, an intelligent concept I like, but the rewards remain unattractive. The highest of the four tiers grants a gift card with an unspecified amount.
MetaTrader5 platform, which provides a comprehensive trading feature and vast solutions. For full protection of investment LegacyFX operates negative balance protection along with complete segregation of client funds from company’s asset, Mainstay on customer popular MT5. This2022 Forex Broker Reviewhas been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers.