LegacyFX broker Accounts

legacyfx Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: legacyfx Account Types Explained

LegacyFX offers a variety of account types tailored to meet the needs of different traders, from beginners to experienced professionals. Below is an overview of the available account types:

1. Standard Account

• Minimum Deposit: $500
• Spread/Commission Structure: Spreads start from 1.6 pips, no commission.
• Leverage Options: Up to 1:200.
• Key Features: Basic trading tools, access to educational resources.
• Target User Profile: Beginners.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

2. Silver Account

• Minimum Deposit: $500
• Spread/Commission Structure: Fixed and variable spreads of 2.5 pips.
• Leverage Options: 1:50.
• Key Features: Free education, technical analysis reports, and market insights.
• Target User Profile: Beginners looking for additional support.
• Trading Instruments Available: Forex, commodities, indices.

3. Gold Account

• Minimum Deposit: $5,000
• Spread/Commission Structure: Spreads from 1.0 pips.
• Leverage Options: 1:100.
• Key Features: Enhanced trading benefits, priority customer support.
• Target User Profile: Intermediate traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

4. Platinum Account

• Minimum Deposit: $25,000
• Spread/Commission Structure: Spreads from 0.6 pips.
• Leverage Options: 1:200.
• Key Features: Premium features, dedicated account manager, and exclusive market insights.
• Target User Profile: Advanced traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

5. ECN Account

• Minimum Deposit: $5,000
• Spread/Commission Structure: Variable spreads, commissions apply.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Professional traders.
• Trading Instruments Available: Forex, commodities, indices.

6. Islamic Account

• Minimum Deposit: $500
• Spread/Commission Structure: Similar to the Standard Account.
• Leverage Options: Up to 1:200.
• Key Features: Swap-free trading compliant with Islamic finance principles.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities, indices.

7. Demo Account

• Minimum Deposit: N/A (virtual funds).
• Spread/Commission Structure: Similar to live accounts.
• Leverage Options: Up to 1:200.
• Key Features: Practice trading with virtual funds, access to educational resources.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard or Silver Account
• Intermediate Traders: Gold Account
• Advanced Traders: Platinum or ECN Account
• Muslim Traders: Islamic Account
• Testing Strategies: Demo Account

Part 2: Detailed legacyfx Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account: Low minimum deposit, access to educational resources.
• Silver Account: Additional support and analysis for beginners.
• Gold Account: Better spreads and customer support.
• Platinum Account: Premium features and dedicated management.
• ECN Account: Direct market access and lower trading costs.
• Islamic Account: Compliance with Islamic trading principles.
• Demo Account: Risk-free trading experience with virtual funds.

Disadvantages of Each Account Type

• Standard Account: Limited features compared to higher tiers.
• Silver Account: Higher spreads than Gold and Platinum.
• Gold Account: Higher minimum deposit requirement.
• Platinum Account: Significant capital requirement.
• ECN Account: Commission fees may apply.
• Islamic Account: Limited availability of certain features.
• Demo Account: No real profits and limited duration.

Part 3: legacyfx Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries, but specific restrictions may apply.
• Prohibited Countries: Countries under sanctions or restrictions may not be eligible.
• Identity Verification Documents Needed: Government-issued ID (passport or national ID).
• Proof of Residence Requirements: Utility bill or bank statement showing the applicant's name and address.
• Additional Documentation for Professional Accounts: May require proof of trading experience or financial status.

KYC/AML Compliance Procedures

• All clients must undergo Know Your Customer (KYC) verification to comply with Anti-Money Laundering (AML) regulations. This includes submitting identification and proof of residence documents.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the completeness of submitted documents.

Part 4: legacyfx Account Opening Process

Step-by-Step legacyfx Account Opening Guide

1. Visit Website and Click Registration: Navigate to the LegacyFX website and click on the registration button.
2. Personal Information Entry: Fill in personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type from the available options.
4. Set Trading Preferences: Specify trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required identification and proof of residence documents.
6. Account Verification: Wait for the verification team to review and approve your documents.
7. Fund Your Account: Once verified, deposit the minimum required amount to start trading.
8. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, with slight variations in interface layout.

Common Registration Issues and Solutions

• Issue: Document rejection.

  Solution: Ensure documents are clear and meet the requirements.

• Issue: Delays in verification.

  Solution: Contact customer support for updates.

Average Account Approval Time

• The average account approval time is between 1-3 business days.

How to Upgrade/Downgrade Account Types

• Account upgrades or downgrades can typically be requested through the client dashboard or by contacting customer support.

Part 5: legacyfx Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice trading with virtual funds, access to all trading instruments, and educational resources.

How to Open a Demo Account

• A demo account can be opened during the registration process or directly from the LegacyFX website.

Demo Account Limitations

• The demo account is limited to virtual funds and does not provide real trading profits.

Virtual Balance Amount

• The demo account typically comes with a virtual balance of $10,000.

Demo vs Live Account Differences

• The demo account uses virtual funds, while the live account involves real money and trading conditions.

Duration/Expiry of Demo Accounts

• Demo accounts usually remain active for a limited time, often 30 days, after which they may expire unless extended.

Part 6: legacyfx Islamic Account Details

Swap-Free/Islamic Account Availability

• LegacyFX offers an Islamic account that is compliant with Sharia law, allowing for swap-free trading.

Eligibility Requirements

• Traders must provide documentation confirming their eligibility for an Islamic account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

• Traders can apply for an Islamic account during the registration process or by contacting customer support after opening a standard account.

Restrictions or Special Conditions

• Islamic accounts may have specific conditions regarding trading strategies and instruments.

FAQs – legacyfx Account Types & Opening

1. What account types does legacyfx offer？

• LegacyFX offers Standard, Silver, Gold, Platinum, ECN, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Minimum deposits range from $500 for Standard and Silver accounts to $25,000 for Platinum accounts.

1. How long does legacyfx account verification take？

• Account verification typically takes 1-3 business days.

1. Does legacyfx offer demo accounts？

• Yes, legacyfx offers demo accounts for practice trading.

1. Can I have multiple account types with legacyfx？

• Yes, traders can open multiple account types.

1. Does legacyfx offer Islamic/swap-free accounts？

• Yes, legacyfx offers Islamic accounts that are swap-free.

1. What documents do I need to open a legacyfx account？

• Required documents include a government-issued ID and proof of residence.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.