According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $250
- Mobile Apps
- LegacyFX MT5
- Web Trader MT5
- CySEC
- VFSC
- 2017
Our Evaluation of LegacyFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
LegacyFX is a moderate-risk broker with the TU Overall Score of 6.39 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by LegacyFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
LegacyFX is a broker for professional market participants and novice traders. The company also offers ways of passive earning and investing.
Brief Look at LegacyFX
LegacyFX is an international broker that has been providing financial services since 2017. LegacyFX cooperates with both beginners and professional traders, and the company's clients can trade currencies, metals, indices, and many other assets. LegacyFX offers both independent trading and opportunities to invest, trading signals, and automated trading programs. LegacyFX has received 19 awards since its inception, including “Best STP/ECN Forex Broker” (by AtoZ Markets magazine, 2020), “Best Education & Training Modules” (by the Middle East magazine, 2020), and “Fastest Growing Broker” (by Europe magazine, 2021).
We've identified your country as
US
We have thoroughly analyzed all companies legally providing trading services in your country and created a ranking of the best ones. Our analysis highlights companies that offer optimal working conditions, uphold a strong reputation, and consistently receive the highest number of positive reviews from traders on our website.
Explore the 5 top-rated companies in
US :
- The commission for the account replenishment and withdrawal of funds is paid by the broker.
- A wide range of educational materials of varying difficulty levels.
- Convenient ways to conduct financial transactions.
- Availability of investment programs, trading signals, and other auxiliary tools.
- The broker uses segregated accounts to store clients' money.
- There are several ways to contact support.
- The broker protects against a negative balance.
- High level of minimum deposit.
- Customer support is closed at night and on weekends.
- Stock trading is not available to Standard and Bronze account holders.LegacyFX is a broker for professional market participants and novice traders. The company also offers ways of passive earning and investing.
TU Expert Advice
Author, Financial Expert at Traders Union
LegacyFX offers a comprehensive suite of services with seven account types, starting with a $250 minimum deposit. Trading instruments available include Forex, cryptocurrencies, stocks, indices, and commodities, with leverage up to 1:200. Traders can access mobile apps, LegacyFX MT5, and Web Trader MT5 platforms. The broker provides educational resources, trading signals, and PAMM accounts for passive income, along with negative balance protection and zero fees on deposits and withdrawals.
Despite these advantages, LegacyFX has notable drawbacks, such as higher minimum deposits and client support unavailable on weekends. Additionally, the platform is only regulated by CySEC and VFSC, not Tier-1 regulators. The broker may not be desirable for traders prioritizing low minimum deposits or constant client support but could suit those seeking diverse account types and trading tools.
LegacyFX Trading Conditions
71% of retail investor accounts lose money with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | LegacyFX MT5 trading platform, Web Trader MT5, mobile app |
|---|---|
| 📊 Accounts: | Real accounts: Standard, Bronze, Silver, Gold, Platinum, Premium, and VIP; Demo account, PAMM account |
| 💰 Account currency: | USD, EUR, GBP |
| 💵 Deposit / Withdrawal: | Bank cards: Visa and MasterCard; Neteller, Skrill, Load, Bitcoin, Perfect Money, Wire Transfers, cryptocurrency |
| 🚀 Minimum deposit: | $250 |
| ⚖️ Leverage: | From 1:5 up to 1:200 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.1 |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, stocks, indices, CFDs, precious metals, and commodities |
| 💹 Margin Call / Stop Out: | 80% / 30% |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Dealing Desk, ECN |
| ⭐ Trading features: | Stock trading is not available for Standard and Bronze account holders |
| 🎁 Contests and bonuses: | Loyalty member program; Traders Union |
LegacyFX users can open one of 7 types of trading accounts, as well as test the conditions of each on a free demo account. The company provides more than 200 assets as working instruments, including currency pairs, cryptocurrencies, commodities, stocks, CFDs, indices, and metals. The maximum size of the trading leverage reaches 1:200, this indicator may vary depending on the instrument. The spread is available in two variations: fixed and floating, and its size also depends on the asset and the type of trading account. Also, clients can invest in a PAMM account and receive income without actively participating in trading.
LegacyFX Key Parameters Evaluation
Video Review of LegacyFX
Share your experience
- Best
- Last
- Oldest
Trading Account Opening
Cooperation with LegacyFX begins with opening a real or virtual account with the company. To do that, use the following step-by-step instructions:
Visit the official LegacyFX website. To open a new trading account, on the main page, click on the menu button (three horizontal stripes in the upper right corner).
In the list that opens, select "Open Account" to open a live trading account, or "Open Demo Account" to open a demo account.
Choose the type of account that suits you: personal or corporate. Fill out a short form with the following data: your name, surname, email, phone number. Come up with a password to enter your personal account, confirm the password. Select the currency of the account. Enter captcha and electronic signature.
Personal account. To get started, you need to upload your identity documents and credit/debit card details.
Functions of the LegacyFX personal account:
Also in the personal account, the trader can:
-
Change password. A window in which a trader, if desired or necessary, can change the password for logging into the account.
-
Deposit funds. You can replenish your trading account through this section.
-
Trading history. In this window, users have access to the history of completed trades.
-
Upload documents. Here you need to upload documents to verify your account. Without uploading documents, LegacyFX will not grant you access to trading.
-
Market analysis. This section contains reports and analyses of the market situation for various trading instruments.
Regulation and safety
LegacyFX has a safety score of 4.2/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Track record over 8 years
- Not tier-1 regulated
LegacyFX Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 VFSC |
Vanuatu Financial Services Commission | Vanuatu | No specific fund | Tier-3 |
LegacyFX Security Factors
| Foundation date | 2017 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker LegacyFX have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of LegacyFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, LegacyFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
LegacyFX Standard spreads
| LegacyFX | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,4 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,6 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,4 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,8 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
LegacyFX RAW/ECN spreads
| LegacyFX | Pepperstone | OANDA | |
| Commission ($ per lot) | 5 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,1 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with LegacyFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
LegacyFX Non-Trading Fees
| LegacyFX | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
LegacyFX cooperates with traders from different countries and offers several types of accounts. Depending on the type of account, traders have access to different additional functions, as well as different levels of spread.
Account types:
Before opening a live trading account, traders can open a free demo account to check the trading conditions of the LegacyFX broker and their trading skills.
LegacyFX also has PAMM accounts for passive investing, available to all clients of the broker.
Deposit and withdrawal
LegacyFX received a High score for the efficiency and convenience of its deposit and withdrawal processes.
LegacyFX excels by providing a broad selection of payment methods, ensuring minimal costs and a seamless experience for users seeking efficient fund management.
- No withdrawal fee
- BTC available as a base account currency
- Bitcoin (BTC) accepted
- Supports 5+ base account currencies
- Minimum deposit above industry average
- High minimum withdrawal requirement
- Wise not supported
What are LegacyFX deposit and withdrawal options?
LegacyFX stands out with an excellent selection of deposit and withdrawal methods, a variety of base currencies, and zero broker fees, making it an excellent choice for traders seeking low costs and maximum flexibility. Available methods include Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
LegacyFX Deposit and Withdrawal Methods vs Competitors
| LegacyFX | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are LegacyFX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. LegacyFX supports the following base account currencies:
What are LegacyFX's minimum deposit and withdrawal amounts?
The minimum deposit on LegacyFX is $250, while the minimum withdrawal amount is $150. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact LegacyFX’s support team.
Markets and tradable assets
LegacyFX offers a wider selection of trading assets than the market average, with over 75000 tradable assets available, including 50 currency pairs.
- Indices trading
- Crypto trading
- 75000 assets for trading
- Futures not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by LegacyFX with its competitors, making it easier for you to find the perfect fit.
| LegacyFX | Plus500 | Pepperstone | |
| Currency pairs | 50 | 60 | 90 |
| Total tradable assets | 75000 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products LegacyFX offers for beginner traders and investors who prefer not to engage in active trading.
| LegacyFX | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | Yes | No | Yes |
| Managed accounts | No | No | No |
Customer support
The broker provides traders with a customer support service, which, if necessary, will help users to solve problems with transactions and answer questions about trading and non-trading operations. Support is active from Monday to Friday and does not work on Saturday and Sunday.
Advantages
- The company has many ways to contact support
- Traders can order a callback
Disadvantages
- Support is unavailable on weekends
This broker provides the following communication channels for its clients, where you can:
-
write a message to the online chat on the site;
-
fill out the feedback form;
-
call a number specified on the website;
-
send an email (depending on the department: the broker provides different mailing addresses for clients with different requests);
-
visit the broker's physical office.
LegacyFX is also available on social networks such as Twitter, Facebook, LinkedIn, YouTube, and Instagram.
Contacts
| Foundation date | 2017 |
|---|---|
| Registration address | Q Tower, 5th floor, Ioanni Kondylaki 47, 6042, Larnaca, Cyprus |
| Regulation | CySEC, VFSC |
| Official site | https://int.legacyfx.com/ |
| Contacts |
+35725030673
|
Education
Both professionals and novice traders can trade with LegacyFX. To support the development of its clients, the broker provides a section with free training materials, among which there are courses for beginners and advanced users.
The company has a demo account where clients can practice trading and test new trading strategies without putting their capital at risk.
Comparison of LegacyFX with other Brokers
| LegacyFX | Eightcap | XM Group | RoboForex | IC Markets | |
| Trading platform |
LegacyFX MT5, Web Trader MT5, Mobile Apps | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, cTrader, MT5, TradingView |
| Min deposit | $250 | $100 | $5 | $10 | $200 |
| Leverage |
From 1:5 to 1:200 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | No |
| Spread | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0 points |
| Level of margin call / stop out |
80% / 30% | 80% / 50% | 100% / 50% | 60% / 40% | 100% / 50% |
| Order Execution | ECN, Dealing Desk | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | No |
Detailed Review of LegacyFX
LegacyFX is an international Forex broker, whose task is to provide its clients with optimal working conditions. The company started was founded in 2017 and has repeatedly received awards in the "Fastest Growing Broker" category. LegacyFX offers a convenient trading terminal with advanced functionality, a sufficient number of liquid instruments, and traders can use trading robots for their work. The broker also provides trading signals, thanks to which traders can improve the results of trading sessions. The advantage is also the availability of programs: investment, affiliate, and loyalty programs. Owing to them, users have access to passive income and financial bonuses.
LegacyFX by the numbers:
-
The company offers over 200 trading instruments in different groups.
-
There are 7 types of trading accounts available to traders.
-
The maximum leverage is 1:200.
-
The support service works 5 days a week.
-
Zero commissions for account replenishment and withdrawal of funds.
-
The average commission for trading currency pairs is from 1 pip.
LegacyFX is a broker for active trading and passive income
Users who open an account with LegacyFX gain access to a variety of instrument groups, including currency pairs and cryptocurrencies, precious metals, indices, CFDs, stocks, and commodities. In total, the company has over 200 assets. The broker offers a choice of 7 types of real trading accounts, and before starting work, clients can always use a demo account. Also at LegacyFX, there are accounts for people of the Islamic faith. In addition to tools for self-trading, the broker provides PAMM investment accounts, through which traders can receive passive income. At the same time, LegacyFX works both with investors who invest in a PAMM account and with professional market participants who are ready to manage a PAMM account.
LegacyFX trading methods will suit traders no matter what trading device they prefer to employ. The company has a MetaTrader 5 desktop application for trading from a laptop or PC, a web version for tablets, and a mobile application for trading from a smartphone.
Useful services of the LegacyFX broker:
-
Economic calendar. This section presents events of international economic significance that may affect the Forex market. Events are categorized by importance and day of the week.
-
Signals. Here you can find information on which instruments will potentially bring profit.
-
Calculators. There are 3 calculators available: Fibonacci, Pivot, and one for calculating trade sizes and estimating potential risks.
-
Market news. Here traders can learn the latest news from the world of Forex and the international economy.
-
Trading Hours. In this section, you can find the timetable of the market for different trading instruments.
-
AutoChartist. This program allows you to get a detailed and accurate analysis of the market situation so that traders can plan the execution of certain trades.
Advantages:
The broker's website is presented in several languages.
PAMM accounts are available for investment.
The broker provides a section containing extensive educational materials.
The company has Islamic accounts that do not charge for swaps.
LegacyFX is regulated by VFSC (Vanuatu Financial Services Commission).
A wide range of tools to improve the efficiency of trading is present.
Customer accounts are protected from negative balances.
Users' money is kept in separate accounts, to which the broker does not have access.
You can contact support for help in different ways: from a call to an email or chat.
Articles that may help you
Check out our reviews of other companies as well
User Satisfaction i