LegacyFX Forex Broker

LegacyFX Forex Broker - Complete Information Guide

1. Broker Overview

　　LegacyFX, founded in 2012, is an international brokerage firm that provides a wide range of trading services in the financial markets. The company is headquartered in Larnaca, Cyprus, and operates under the parent company A.N. All New Investments Ltd. LegacyFX is a private entity, not publicly traded, which allows for a more personalized approach to client services.

　　Since its inception, LegacyFX has aimed to cater to both retail and institutional clients, focusing on providing a comprehensive trading experience. The broker has made significant strides in the industry, achieving various milestones, including multiple awards for its services, such as "Best STP/ECN Forex Broker" and "Fastest Growing Broker."

　　LegacyFX primarily serves individual traders and investors looking for access to forex, CFDs, commodities, and cryptocurrencies. The firm's business model focuses on retail forex trading and CFD trading, providing clients with the tools and resources necessary to navigate the financial markets effectively.

2. Regulation and Compliance Information

　　LegacyFX operates under several regulatory authorities to ensure compliance and protect its clients. The broker is regulated by the following entities:

• Cyprus Securities and Exchange Commission (CySEC) – License No. 344/17
• Vanuatu Financial Services Commission (VFSC) – License No. 14579
• National Bank of the Republic of Belarus (NBRB) – License No. 193180778
• Financial Conduct Authority (FCA) in the UK – License No. 797343

　　The regulatory licenses cover a broad range of services, allowing LegacyFX to operate within Europe and other regions. The company implements a segregation of client funds policy, ensuring that client funds are kept separate from the company's operational funds, which adds an extra layer of security.

　　LegacyFX adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring clients to verify their identity and provide necessary documentation during the account opening process. This compliance helps to mitigate risks associated with financial fraud and ensures that the broker operates within legal frameworks.

3. Trading Products and Services

　　LegacyFX offers a diverse range of trading products, catering to various investor interests. The broker provides access to:

• Forex: Over 41 currency pairs, including major, minor, and exotic currencies.
• CFDs: A wide array of CFDs on indices, commodities, and stocks, allowing traders to speculate on price movements without owning the underlying assets.
• Cryptocurrencies: Trading options on popular cryptocurrencies, although this service may be subject to regional regulations.

　　The broker continuously updates its product offerings, aiming to include new and trending assets to meet market demand. Retail clients benefit from comprehensive trading services, while institutional clients can explore tailored solutions that suit their trading strategies.

4. Trading Platforms and Technology

　　LegacyFX exclusively utilizes the MetaTrader 5 (MT5) platform, which is recognized for its advanced trading capabilities and user-friendly interface. The platform supports:

• Comprehensive trading tools, including over 80 technical indicators and graphical tools.
• Multiple order types and execution modes, ensuring flexibility for traders.
• Automated trading capabilities through Expert Advisors (EAs), allowing for algorithmic trading strategies.

　　The MT5 platform is available in various formats, including desktop applications for Windows and Mac, a web-based platform, and mobile applications for iOS and Android devices. This flexibility ensures that traders can access their accounts and execute trades regardless of their location.

　　LegacyFX employs a Market Making execution model, which allows for quick order execution and competitive spreads. The broker's technical infrastructure is designed to support high-speed trading and minimize latency, enhancing the overall trading experience for its clients.

5. Account Types and Trading Conditions

　　LegacyFX provides a variety of account types to cater to different trading needs:

• Standard Account: Minimum deposit of $500, offering competitive spreads starting from 1.6 pips.
• Bronze Account: Requires a minimum deposit of $1,000 and includes additional features such as three protected trades.
• Silver Account: Minimum deposit of $3,000, providing access to stock trading and basic analytics.
• Gold Account: Requires a deposit of $5,000, offering premium trading ideas and access to a direct dealing desk.
• Platinum Account: Minimum deposit of $10,000, with tighter spreads and additional personalized services.
• Premium Account: Requires $25,000 to open, providing advanced mentoring and access to exclusive opportunities.
• VIP Account: Customizable account with a minimum deposit of $50,000, tailored to individual client needs.

　　All account types feature swap-free trading options, allowing clients to hold positions overnight without incurring additional fees. The broker offers leverage of up to 1:200, depending on the asset class, and a minimum trade size of 0.01 lots.

6. Fund Management

　　LegacyFX supports various deposit and withdrawal methods to facilitate client transactions:

• Deposit Methods: Clients can fund their accounts through credit cards (Visa and Mastercard), electronic wallets (Neteller, Skrill), and bank wire transfers. The minimum deposit requirement varies by account type, starting from $500.
• Withdrawal Methods: Withdrawals can be made using the same methods as deposits. The broker does not charge any fees for deposits or withdrawals, although a $50 fee may apply for bank wire withdrawals.
• Processing Times: Deposits are generally processed instantly or within a few hours, while withdrawals can take between 3 to 5 business days to process.

　　LegacyFX emphasizes transparency in its fee structure, with no hidden costs for deposits or withdrawals. The broker ensures that clients are informed about any potential fees associated with third-party payment processors.

7. Customer Support and Educational Resources

　　LegacyFX provides robust customer support to assist clients with their trading needs. Support channels include:

• Live Chat: Available on the website for immediate assistance.
• Email Support: Clients can reach out via support@legacyfx.com for inquiries.
• Phone Support: The broker offers telephone support at +41-315087455.

　　Customer support is available from Monday to Friday, ensuring that traders can receive help during key trading hours. The support team is fluent in multiple languages, including English, Arabic, and Russian.

　　In terms of educational resources, LegacyFX offers a comprehensive array of materials, including:

• Webinars: Covering various trading strategies and market analysis.
• Video Tutorials: A library of instructional videos designed for traders of all experience levels.
• E-books: Covering essential trading concepts and advanced techniques.
• Market Analysis: Daily and weekly insights to help traders make informed decisions.

8. Regional Coverage and Restrictions

　　LegacyFX serves clients from various regions, including countries such as:

• Australia
• Canada
• United Kingdom
• South Africa
• Singapore

　　However, the broker does not accept clients from specific countries, including the United States, North Korea, Yemen, and Iran. This restriction is due to regulatory compliance and the broker's operational policies.

　　Overall, LegacyFX aims to provide a secure and reliable trading environment for its clients, with a focus on transparency and customer satisfaction. The broker's commitment to regulatory compliance and client protection makes it a suitable option for traders looking for a trustworthy trading partner.