22 Apr Is LegacyFX Worth It in 2025? A Detailed Review

Is LegacyFX Worth It in 2025? A Detailed Review

The minimum amount required for a deposit for this one is $5,000. Forex traders can gain access to all the features and perks as well as the ones covered by the Silver account for the $5,000. Hence, tons of traders are pleased with the services of the LegacyFX. One remarkable feature of the LegacyFX is the fact that the broker is a regulated and licensed Forex broker.

• By taking a good look at all the cons you can determine how good a platform LegacyFX is for you.
• 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.
• They range from 0.6pips to about 1.6pips, but it all depends on the particular primary currency you select and the exact market condition.
• The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds.
• Traders also have the option of using the LegacyFX Mobile, which is another solution for traders on the go.
• LegacyFX have a section of their website that is dedicated to supplying trading signals on a variety of different assets.

LegacyFX Reviews

LegacyFX offers the MT4 as well as the MT5 platform for trading. In addition to this, the broker also has the Sirix platform that allows traders to engage in social as well as forex trading. We found both the platforms to be user-friendly and rich in essential trading tools & features. They also allow traders to access their accounts through mobile devices, which is a much-needed feature for traders who wish to trade while on the go.

LegacyFX charges zero fees on deposits and withdrawals, and a special “safe-mode” promotion. At LegacyFX, non-trading fees are kept to a minimum to ensure that traders can manage their investments more efficiently without undue financial burden. The broker does not charge any fees for deposits, making it easier for traders to fund their accounts as needed. Most withdrawal methods are also free, though some options might incur a minimal charge depending on the payment service provider or the specific terms of the transaction. Additionally, LegacyFX applies an inactivity fee to accounts that have remained dormant for an extended period, which is a common practice in the industry to encourage active trading or account closure.

Does LegacyFX charge withdrawal fees?

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). The LegacyFX provides Sharia-biddable accounts for traders of the Islamic faith. These accounts have specific rules concerning Riba, and they are swap-free. Also, the support and customer service team of the broker is amazing – they are always around to answer customers for every trading session. LegacyFX is a platform that has a lot of satisfied customers present all over the world. However, at the same time, some are not satisfied with its services at all.

Easy to use and user-friendly user interface

The MT5 platform is already stacked with more tools than most traders will ever need. You will find everything you need for conducting in-depth market analysis with technical indicators, drawing tools and an economic calendar for fun mental analysis. You can also get plenty more tools from the MQL marketplace which is easily accessible directly from within the platform. You will find trading signals, expert advisors, technical indicators, scripts and much more. There is also the MQL programming interface where you can develop your own tools or hire a freelancer to do it for you. Whatever your idea for a trading strategy, you can bring it to life in MT5.

• The features mentioned for the silver, gold, platinum, premium and VIP accounts are not available in the standard or bronze accounts.
• The MiFID and FCA-compliant broker is regulated by CySEC, VFSC, NBRB, and others.
• Fortunately, the broker has made the highly regarded and super-effective MetaTrader MT5 trading dashboard available.
• 77-85% of retail investor accounts lose money when trading CFDs with the providers presented on this site.
• The platform also supports automated trading systems, known as Expert Advisors (EAs), allowing traders to automate their strategies and capitalize on market opportunities efficiently.
• At the touch of a single button, traders can study their account history.

LegacyFX Education

These regulations and safety measures are pivotal in my decision to trade with LegacyFX and should be a key consideration for any trader looking for a secure Forex trading platform. In a nutshell, LegacyFX is a highly regulated broker that offers excellent trading platforms and features with no commissions charged to the traders. The only drawback is that the broker’s spreads are very high, especially for the EUR/USD pair which stands at 3.5pips. LegacyFX offers a robust customer support system that is accessible through multiple channels, including live chat, email, and telephone. This ensures that traders can receive prompt and effective assistance whenever needed, regardless legacy fx review of their location or time zone.

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. There is an option to set up a live trading or a demo account. 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.

Customer Support

Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making. You can also check out the appropriateness of LegacyFX’s services and its supported MT5 platforms for your needs by opening up a demo account before funding a live account. Another very important part of our LegacyFX review is how to transfer money from or to your trading account. Eventually, all account management happens through an online field while LegacyFX makes it possible to process the transaction via major credit/debit cards, Skrill, Neteller, and Bank Wire transfers. Payment methods vary depending on the entity you are trading with.

Does LegacyFX offer a demo account?

This means not every available option may be featured on this page. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. With no proprietary mobile app available, LegacyFX trails behind industry leaders such as IG and Saxo.