Introduction
LegacyFX is a global provider of online trading services. The company offers its clients a wide range of trading instruments and platforms, as well as access to the latest market news and analysis. LegacyFX is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA). The company provides its clients with a variety of platforms to choose from, including the popular MetaTrader 4 (MT4) platform. LegacyFX also offers mobile trading platforms for Android and iOS devices, as well as a web-based platform. In addition to forex, LegacyFX clients can trade CFDs on indices, commodities, stocks, and cryptocurrencies. The company offers competitive spreads and leverage of up to 1:500.
About LegacyFX
Since its inception in 2014, LegacyFX has strived to provide its clients with the best possible trading experience. To that end, we have always adhered to the highest standards of regulation and platform development. Our commitment to these standards has been recognised by leading industry bodies such as the Financial Commission and Investoo.com.
In terms of regulation, LegacyFX is a member of the Financial Commission, an international organisation that provides dispute resolution services for forex and binary options traders. We are also registered with the Cyprus Securities and Exchange Commission (CySEC) and comply with all applicable EU regulations.
As for our platforms, we offer both the popular MetaTrader 4 (MT4) platform as well as our own proprietary web-based platform, which is designed specifically for advanced charting and analysis. Both platforms are available on desktop, web and mobile devices.
In terms of instruments, we offer a wide range of forex pairs, CFDs on indices, commodities, stocks and cryptocurrencies. We also offer a variety of account types to suit different trading styles and budgets.
Finally, in terms of ratings, we are proud to have been rated 5 stars by Investoo.com and 4 stars by Forex Peace Army. We have also been voted “Best New Broker” by DailyForex.com in 2016 and “Most Trusted Broker” by FX Empire in 2017.
Regulatory Oversight
As a forex and CFD broker, LegacyFX is subject to strict regulation by some of the world’s most reputable financial bodies. These include the Cyprus Securities and Exchange Commission (CySEC), the Markets in Financial Instruments Directive (MiFID), and the Investors Compensation Fund (ICF).
This high level of regulatory oversight ensures that LegacyFX operates in a fair, transparent and ethical manner at all times. It also means that your money is always safe and secure when you trade with LegacyFX.
In addition to being regulated by CySEC, MiFID and the ICF, LegacyFX is also a member of the Investor Compensation Scheme (ICS). This scheme protects investors in the event that a broker becomes insolvent.
LegacyFX is therefore a very safe and secure broker to trade with. You can be confident that your money is always in good hands when you trade with LegacyFX.
LegacyFX Platforms
LegacyFX offers a variety of platforms to its clients, each with its own advantages and disadvantages. Here is a brief overview of the most popular LegacyFX platforms:
MetaTrader 4: MetaTrader 4 (MT4) is the most popular LegacyFX platform and is used by the majority of LegacyFX clients. MT4 is a user-friendly platform with a wide range of features and tools. However, it lacks some advanced features offered by other LegacyFX platforms.
WebTrader: WebTrader is a web-based platform that can be accessed from any internet-connected device. It is simple and easy to use, but lacks some of the advanced features offered by other LegacyFX platforms.
Mobile Trading: Mobile Trading is a mobile application that can be downloaded on iOS and Android devices. It offers all the features and tools of the MetaTrader 4 platform, but is more convenient for mobile users.
ECN Trading: ECN Trading is a more advanced platform that offers direct access to the interbank market. It is suitable for experienced traders who need fast order execution and low spreads.
Financial Instruments
When it comes to trading forex, there are a variety of financial instruments that can be used in order to speculate on the movement of currency pairs. Some of the most popular ones include:
– Spot contracts: These are the most basic type of forex transaction and involve the simultaneous purchase and sale of a currency pair at the current market price.
– Forward contracts: Unlike spot contracts, forward contracts involve the purchase or sale of a currency pair at a future date and price that is agreed upon today. This type of contract can be useful for hedging purposes or if you expect a certain currency to strengthen or weaken over time.
– Swap contracts: Swap contracts are essentially two forward contracts that are combined into one transaction. They involve the exchange of one currency for another at an agreed upon rate, and then back again at a later date. These types of transactions are typically done by large institutions and are not often used by individual investors.
– Options: Options give the holder the right (but not the obligation) to buy or sell a currency pair at a specific price within a certain time period. There are two types of options – call options and put options. Call options give you the right to buy a currency pair while put options give you the right to sell it.
Each of these financial instruments has its own risks and rewards, so it’s important to understand them before deciding which ones to use in your own trading strategy.
Account Types
There are three main types of accounts at LegacyFX: Standard, Premium, and VIP. Standard is the most basic account, while VIP offers the most perks and features. Here is a breakdown of what each account type offers:
Standard Account:
-Minimum deposit of $250
-Leverage up to 1:200
-Fixed or variable spreads
-Standard MetaTrader 4 platform
-Access to market news and analysis
Premium Account:
-Minimum deposit of $5,000
-Leverage up to 1:400
-Variable spreads starting at 0.8 pips
-Premium MetaTrader 4 platform with additional indicators and tools
-Access to market news and analysis
-Dedicated account manager
VIP Account:
-Minimum deposit of $25,000 -Leverage up to 1:500 -Variable spreads starting at 0.6 pips -Premium MetaTrader 4 platform with additional indicators and tools -Access to market news and analysis -Dedicated account manager -Invitations to VIP events
Funding and Withdrawals
When it comes to online trading, one of the most important aspects is choosing a broker that is regulated and offers a safe and secure platform. LegacyFX is a regulated broker that offers a variety of platforms and instruments for traders. In addition, LegacyFX has high marks from major review sites like Trustpilot and Forex Peace Army.
When it comes to funding your account, LegacyFX offers a variety of methods including credit/debit cards, bank wire transfer, and e-wallets like Skrill and Neteller. Withdrawals are processed quickly and securely. Overall, LegacyFX is a great choice for traders looking for a regulated broker with a safe and secure platform.
Customer Support
At LegacyFX, we take customer support seriously. We have a dedicated team of support staff available 24/7 to answer your questions and help you with any problems you may have.
We know that when it comes to trading, time is of the essence. That’s why we offer a range of support options including live chat, email and phone support. We also have an extensive FAQ section on our website where you can find answers to common questions.
If you need help with anything, don’t hesitate to contact us. We’re always happy to help!
Educational Resources
When it comes to forex trading, one of the most important things to consider is the regulation of the broker. There are many regulatory bodies out there, but not all of them are created equal. The most reputable regulatory bodies include the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).
These regulatory bodies have strict rules in place to protect traders from fraud and abuse, and they also require brokers to segregate client funds into separate accounts so that traders can be sure their money is safe.
In addition to regulation, another important consideration when choosing a forex broker is the platform that they offer. The two most popular platforms are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and most brokers will offer both options. MT4 is more popular with experienced traders, while MT5 is newer and includes some additional features that beginners may find helpful.
Finally, it’s also important to consider the Instruments & Ratings offered by a broker before making a decision. Make sure that the broker offers a wide range of currency pairs, as well as other assets such as precious metals, CFDs, and cryptocurrencies. It’s also a good idea to check out online reviews to get an idea of what other traders have experienced with a particular broker.
LegacyFX Ratings
When it comes to online brokerages, there are a lot of things to consider. One important factor is the company’s ratings. Here’s a look at what some of the top rating agencies have to say about LegacyFX:
Investor Protection Score: 4.5/5
Financial Stability Score: 4.0/5
Customer Service Score: 4.0/5
Platforms & Tools Score: 3.5/5
Commissions & Fees Score: 3.0/5
Overall, LegacyFX gets high marks for investor protection and financial stability. However, their platforms and tools could use some improvement, as could their commissions and fees structure. But overall, they’re a solid option for online trading.