One of the most unique features about LegacyFX is the fact that it offers seven different types of accounts. The Vanuatu-registered broker cares a lot about its clients’ access to diverse options, and its multi-account range is one of its highlights. If you’re tired of the same old standard accounts, LegacyFX’s wide range of options is one reason you might want to take a look at this broker.
LegacyFX has been providing products and services to traders since 2017, allowing them to trade with more than two-hundred instruments. The trader believes that “knowledge is power,” and it offers a lot of education tools, webinars, and courses to its clients. Though the minimum deposit fee is steep and there are some country restrictions, LegacyFX has far more to offer its clients than many other brokers out in the industry today.
Pros and Cons
Pros
- Swap-Free Accounts Available to All
- MT5 Offered
- Negative Balance Protection on Accounts
Cons
- No Canadian/US Clients
- High Minimum Deposit
Recommended For
Judging from the wide range of educational tools offered, LegacyFX is great for beginning traders. The e-books and webinars will talk you through the basics of trading. Novices will find a lot with which to educate themselves with this broker. At the same time, old pros will be thrilled to know that LegacyFX uses MT5, and there is more advanced information for traders who have been in the industry for a while. So, overall, this broker is suitable for all skill levels.
Top Features
- MetaTrader 5. LegacyFX offers the MetaTrader 5 platform, allowing clients to tap into one of the most popular trading platforms on the market. MetaTrader 5 supports over 200 financial instruments.
- Free Webinars. As an essential part of its comprehensive educational program, LegacyFX offers free webinars, which are presented by highly-skilled forex experts. The webinars cover trading strategies and tips, technical analysis, key economic developments around the world, and previews of the week ahead.
- Free Trading Tools. Unlike other brokers who charge for these services, LegacyFX provides free trading tools such as TradingView charts, MTE videos, and market research. Clients also have access to the Auto-Chartist premium analytical tool.
- Negative Balance Protection and Segregation. Accounts have negative balance protection and are segregated from company assets.
- Helpful to Beginning Traders. Beginning traders can take advantage of introductory educational resources, which cover topics for a wide range of skill levels, from beginner to advanced.
- Language Fluidity. International traders benefit from LegacyFX’s platforms because they can access the interface in English, Spanish, Arabic, German, and Russian.
- Client Area. LegacyFX has a unique “Client Area,” which is a dashboard that displays client activity. It is designed to give the client all the tools they need, as well as a report on the status of their account.
Overview
- Regulation & Licensing Vanuatu Financial Services Commission – 14579, CySec, NBRB
- Clients Accepted from LegacyFX does not provide services for residents of certain regions, such as the United States of America and Iran
- Assets Offered Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency
- Platforms Available Web, Download, Mobile
- Mobile Compatibility iOS, Android
- Payment Types Accepted Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, VLoad, Cryptocurrency, Perfect Money
Account Types
| Standard | Bronze | |
| Features | No fees, Daily Signals, Live support, Trading Academy, Swap-free account, Private channel, Tips and updates, Commodities. | No fees, Daily Signals, Live support, Trading Academy, Swap-free account, Private channel, Tips and updates, Commodities, Auto-charting tool, 3 protected trades. |
| Account Currencies | USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZAR | USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZAR |
| Available Leverage | 1:200 | 1:200 |
| Minimum Deposit | $500 | $1,000 |
| Starting Spreads | Varies | Varies |
| Commission Per Trade | $0 (Non-Stock) | $0 (Non-Stock) |
| Decimal Pricing | Up to 5 | Up to 5 |
| Trading Instruments | Available FX Pairs – 50, Available stocks – 160, Available indices – 12, Available commodities – 13, Available EFTs – 13, Available cryprocurrency pairs- 4. | Available FX Pairs – 50, Available stocks – 160, Available indices – 12, Available commodities – 13, Available EFTs – 13, Available cryprocurrency pairs- 4. |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 500-1,000 | 500-1,000 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
| Copy Trading Support | Yes (MT5) | Yes (MT5) |
| Silver | Gold | |
| Features | No fees, Daily Signals, Live support, Trading Academy, Swap-free account, Private channel, Tips and updates, Commodities, Auto-charting tool, 3 protected trades, Trading Psychology, Stocks, Basic analysis, Basic mentoring. | No fees, Daily Signals, Live support, Trading Academy, Swap-free account, Private channel, Tips and updates, Commodities, Auto-charting tool, 3 protected trades, Trading Psychology, Stocks, Basic analysis, Basic mentoring, Premium ideas, Personal success goal, VIP EU MASTERCAR, Direct Dealing Desk. |
| Account Currencies | USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZAR | USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZAR |
| Available Leverage | 1:200 | 1:200 |
| Minimum Deposit | $3,000 | $5,000 |
| Starting Spreads | 1.6 pips |
Varies |
| Commission Per Trade | $0 (Non-Stock) | $0 (Non-Stock) |
| Decimal Pricing | Up to 5 | Up to 5 |
| Trading Instruments | Available FX Pairs – 50, Available stocks – 160, Available indices – 12, Available commodities – 13, Available EFTs – 13, Available cryprocurrency pairs- 4. | Available FX Pairs – 50, Available stocks – 160, Available indices – 12, Available commodities – 13, Available EFTs – 13, Available cryprocurrency pairs- 4. |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 500-1,000 | 500-1,000 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
| Copy Trading Support | Yes (MT5) | Yes (MT5) |
| Platinum | Premium | |
| Features | No fees, Daily Signals, Live support, Trading Academy, Swap-free account, Private channel, Tips and updates, Commodities, Auto-charting tool, 3 protected trades, Trading Psychology, Stocks, Basic analysis, Basic mentoring, Premium ideas, Personal success goal, VIP EU MASTERCAR, Direct Dealing Desk, Trading plan, Dealing Room Direct Line. | ALL of LegacyFX features: No fees, Daily Signals, Live support, Trading Academy, Swap-free account, Private channel, Tips and updates, Commodities, Auto-charting tool, 3 protected trades, Trading Psychology, Stocks, Basic analysis, Basic mentoring, Premium ideas, Personal success goal, VIP EU MASTERCAR, Direct Dealing Desk, Trading plan, Dealing Room Direct Line, Platinum opportunities, Platinum sessions, Advanced mentoring. |
| Account Currencies | USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZAR | USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZAR |
| Available Leverage | 1:200 | 1:200 |
| Minimum Deposit | $10,000 | $25,000 |
| Starting Spreads | Varies | Varies |
| Commission Per Trade | $0 (Non-Stock) | $0 (Non-Stock) |
| Decimal Pricing | Up to 5 | Up to 5 |
| Trading Instruments | Available FX Pairs – 50, Available stocks – 160, Available indices – 12, Available commodities – 13, Available EFTs – 13, Available cryprocurrency pairs- 4. | Available FX Pairs – 50, Available stocks – 160, Available indices – 12, Available commodities – 13, Available EFTs – 13, Available cryprocurrency pairs- 4. |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 500-1,000 | 500-1,000 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
| Copy Trading Support | Yes (MT5) | Yes (MT5) |
Compliance & Regulation
LegacyFX is a global brand, and it is registered under ALL NEW INVESTMENTS. ANI is regulated by the Vanuatu Financial Services Commission (VFSC). Its license number is 14579.
Reliability & Security
Reliability-wise, LegacyFX uses MetaTrader 5. MT5 is one of the best applications for traders, and it has all the bells and whistles for navigating the markets. The software system is free, and it allows traders to perform orders, analysis, and charting functions, all without skipping a beat.
The use of MT5 is a huge point in LegacyFX’s favor, as not many other brokers use this software, preferring, instead, to stick to MT5’s predecessor, MetaTrader 4. The fact that MetaTrader 5 is a mainstay of this broker makes it unique—in a good way.
User Experience
The customer support at LegacyFX is top-quality, which will come in handy, especially if you’re a new trader who needs help getting adjusted to the markets. The user-friendly features, high-end software, and educational tools prove this is a broker who is concerned with the quality of its users’ experience.
Additionally, LegacyFX is focused on making the client compliance system work better. The advanced, automated system approves clients within a few hours (maximum 24). The broker also has dedicated customer support and quality assessment teams, which review all communication channels with clients. The broker’s TrustPilot score is a 3.4/5.
Final Thoughts
LegacyFX is a feature-heavy broker. One of its highlights is that it offers MetaTrader 5, which is a customer-favorite that not many other brokers can say they provide to their clients. The variety of account types and wide range of educational tools and course are some of the main highlights when it comes to this broker.
Contact Info
Govant Building, Kumul Highway, P.O.Box 1276, Port Vila, Vanuatu
FAQs
Q: What are the trading conditions?
A: There are no commissions except on stock. Legacy FX earns from the mark-up. Also, LegacyFX offers fractional pips, swap-free accounts, and a level of margin call at 80%.
Q: What is the level of stop out?
A: The stop-out level is 30%.
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