LegacyFX traders can navigate the platform and find the information they need to make informed trading decisions. Autochartist on the LegacyFX platform is a powerful tool designed to help traders find trading opportunities quickly and easily. LegacyFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. When considering LegacyFX for your trading activities, its financial regulatory status in your region is crucial.
So firstly you should learn how to use tools smartly, also various regulatory standards and restrictions set a particular allowed level of leverage that is considered to be safe. I have just started trading using the Legacy platform.It has been a very positive experience for me being a complete newbie . All accolades go to Damian who is an exceptionally wonderful account manager . He has taught me basics and has helped me to make a good start. There is attention to detail and a very personalised approach which is what sets legacy aside from other platforms. The whole process of setting up and making a start has been smooth so far.
MetaTrader 5 Platform
On the other hand, there is no 24/7 support and conditions may vary according to entity rules and conditions vary according to brokers’ regulations. I’ve just funded my account but I haven’t started trading these 5 stars are for Kai Evans, Rose Aubrey and Jason Wolf. They are very patient and they do not give up on their clients. LegacyFX really cares for their clients, am still new I’ve just joined the company and their service is amazing!.
As a MetaTrader-only broker, LegacyFX offers a decent variety of instruments with 425 symbols and 41 forex pairs – all available on MT5. Since joining I have received so much helpful information that I have used to grow my portfolio. I’ve been receiving very good service from Lora Wilson, an account manager at Legaxyfx. I’d also like to express my gratitude to my trading mentor James. Traders with the Silver account have a minimum of 1.6pips, Gold customers are open to a minimum of 1.0 pips, and the 0.6pips is for platinum members.
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Since its launch, it has received plenty of reviews from customers – with positive ones outweighing the bad. We also use different external services like Google legacy fx Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here.
- Traders with the Silver account have a minimum of 1.6pips, Gold customers are open to a minimum of 1.0 pips, and the 0.6pips is for platinum members.
- As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
- However, LegacyFX’s range of written materials is limited to roughly a dozen ebooks – all of which I found to be overly basic.
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. ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.
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As a result, selecting the right trading platform like LegacyFX requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like LegacyFX available, each with unique features, fees, and regulations. I find the third-party deposits available at LegacyFX confusing, as it violates globally accepted AML stipulations. LegacyFX attempts to counter it with a Transaction Authorization / Declaration of Deposit (DOD) Form, which all traders must sign.
Newbie traders, however, are recommended to practice trading on a demo account. This comes equipped with a virtual fund of $10,000, and you can access the MT5 platform for one month. Based on our expertise and research, LegacyFX is a reliable broker with a good reputation, quality service, and good trading conditions suited for both beginners and experts. As one of the good advantages, the broker offers low spreads on almost all trading instruments with the lowest spreads for FX pairs starting from 0.6 pips. I like the trading experience at LegacyFX as this broker does not charge swap rates on leveraged overnight positions.
What we like about LegacyFX
You will need to submit identification documents to register for a live account. Fortunately, the account opening form only takes a few minutes to complete. New clients can also benefit from the broker’s Safe Mode program, where you can undo three losing trades. 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.
First off, the broker provides an easy withdrawal and deposit system for all its clients. Also, you stand a high chance of having access to over 80 trading videos, webinars, and other educational resources—all hosted by LegacyFX academy. Our review of LegacyFX shows, that clients are given the classic MT5 (MetaTrader 5) trading platform. You will find the desktop software, along with their Web Trader and mobile apps.
The MT5 is, without doubt, the world’s most cutting-edge trading platform and it represents a significant upgrade on the MT4 platform. It also offers features that cannot be contested that most of its competitors. The platform provided to Legacy FX clients is the ever-popular MetaTrader MT5. As this software is offered under license by a third-party (MetaTrader), it’s necessary to complete some additional online paperwork and accept a Terms of Service agreement. Legacy FX do well to provide a helpful breakdown of what is needed in the FAQ section of their site. Generally, most traders that have used their services have had positive things to say about them, and the broker has a good overall reputation.
- Additionally, the platform is well-regulated by several authorities in Europe, making it a secure choice for traders who want peace of mind when investing their money.
- Bank transfers may take a few business days to clear whilst some payments can be instant.
- As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
- Overall, LegacyFX provides traders with a reliable and user-friendly trading experience that is suitable for both novice and experienced traders alike.
- You will need to submit identification documents to register for a live account.