It is crucial to read the broker review before trading with the broker. You can find the LegacyFx review in detail below. LegacyFX is rated as a medium-risk broker, with a fairly good trust score (74/99). LegacyFX isn’t traded publicly and doesn’t operate a bank. The broker is approved by a top-tier (FCA), and a tier-2 regulator.
Investment Options
Contents
LegacyFX provides 425 CFDs over a wide range of major asset classes, including stocks, ETFs, commodities, metals, forex, as well as crypto.
Cryptocurrency trading: Crypto CFDs aren’t accessible to retail traders or United Kingdom residents from whatever broker’s United Kingdom business.
- Cryptocurrency (CFD)
- Copy Trading
- Forex
- CFD
- 425 Tradeable Symbols
- 41 Forex Pairings
LegacyFx Review – Pricing
LegacyFX offers a variety of accounts options based on if users pick its European corporation governed by CySEC or its global entity in Vanuatu. However, no typical spreads are given to determine the real cost of trading using LegacyFX, which is expected from the finest brokers in this area.
LegacyFX provides 3 account options for European residents: Silver with a minimum deposit of $500, Gold with a minimum deposit of $5,000, & Platinum, with a minimum deposit of $25,000.
Spreads are marketed to be the cheapest on the Platinum account and somewhat increased on the Gold one. The Silver has much greater trading fees, with the least spread available on the EUR-USD currency pair as high as 1.6 pips.
LegacyFX, a Vanuatu company, provides global clients with 7 account options: Standard, Bronze, Silver, Gold, Platinum, Premium, and VIP. The type of account the client chooses defines their degree of client assistance – like coaching and the opportunity to communicate with the trading desk – and also the variety of trading instruments available to them.
LegacyFx Review – Mobile
The broker trails behind leaders like IG & Saxo Bank since it does not have its in-house application.
Apps summary: Because LegacyFX is a solely MT broker, Android & IOS variants of the MetaTrader5 app are included and traders can download it from the Apple Store and Play Store. MT4 is not accessible for the time being.
- Android
- iOS App
- Alerts
- Watchlist
- Charting (Several Time Frames)
- Charting (Drawings Autosave)
- 30 Charting Indicators
- Charting – Draw Trendlines
LegacyFx Review – Platforms
LegacyFX provides the fundamental, out-of-the-box MetaTrader5 experience. The broker does include the Autochartist plugin, but there aren’t any remarkable add-ons that assist the broker to shine among the top MT brokers.
Summary of platforms: The broker offers the whole MT suite — both for desktop and online. The first is available for both macOS & Windows, while the latter is simply accessible through any current browser.
Charting: The MT platform suite is well-known for its powerful and easy-to-use charting. Charting on MetaTrader5 is a joy because of the flexibility to drag and drop almost 50 indicators, reorganize numerous windows & tabs, and zoom features.
- Desktop Platform (Windows)
- Web Platform
- Copy Trading
- MetaTrader 5 (MT5)
- Virtual Trade
- 30 Charting – Indicators
- 15 Drawing Instruments (Charting)
- Trade via Chart
Market Analysis & Research
The broker’s research offerings are comparable to the industry standard. It has a strong video content collection – although the style is old – it misses a strong supply of textual articles. The broker has built a foundation on which to expand, however it is currently well behind top brokers in the industry.
Summary of research: The broker’s research service is located in the Trading Tools area of its site. Here, traders will discover an economic calendar, Autochartist trading alerts, and regular analysis videos where every one of them concentrates on one or two currency pairings.
Market updates & analysis: The broker’s website’s market news area offers content in headline form, that might be extended to disclose further information in bulleted style.
- Daily Market Commentary
- Autochartist
- Economic Calendar
LegacyFx Review – Learning
LegacyFX’s instructional products are in line with industry-standard, at least in terms of video material. Their Academy portion is well-structured, featuring video lectures and classes sorted by level of expertise.
The broker’s written resources, on the other hand, are restricted to perhaps a few e-books, all of which are extremely rudimentary. LegacyFX clearly lags behind the top brokers in this area.
Learning center: As a component of the broker’s Academy, there are at least 10 basic videos and more sophisticated recordings. More videos may be seen on LegacyFx’s YouTube page.
Additional written content will further enhance LegacyFX’s instructional offering. Apart from their e-books, there are almost zero articles.
- Has Education – Forex or CFDs
- Client Webinars
- Client Webinars (Archived)
- Videos – Beginner Trading Videos
- Videos – Advanced Trading Videos
- Investor Dictionary (Glossary)
LegacyFx Review – Verdict
LegacyFX, being an MT-only broker, provides a good selection of products, with more than 420 symbols and 41 forex pairings – all of which are accessible on MetaTrader5.
LegacyFX, on the other hand, fails to compare to the top MT brokers. Releasing its standard spread statistics every month, and also enhancing its education and research programs, can assist LegacyFX to get to the top of the market.
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