LegacyFX is a reputable broker in the cryptocurrency market that offers live trading accounts to its clients. When it comes to managing your funds, LegacyFX emphasizes the importance of using the same deposit method for withdrawals from your account. While the withdrawal process may take a few days, you can easily find information about the withdrawal limits on the company’s homepage.
Trading with LegacyFX:
If you are interested in trading cryptocurrency, LegacyFX is a fantastic place to start. This brokerage provides access to a wide variety of currencies and boasts a dedicated customer support team available 24/7. They even offer a live chat service for additional assistance, ensuring that you have the support you need when you need it. Additionally, LegacyFX offers a diverse range of account types to cater to various trading preferences and skill levels, along with a wealth of educational resources.
To help traders get started, the company offers a demo account that grants you access to $10,000 worth of virtual funds for a one-month period. Although there might not be specific bonus offers or promotions, LegacyFX does have a loyalty program where you can earn branded merchandise and access exclusive content.
LegacyFX provides four different account types and a wide array of trading tools. You can select from forex, stock, gold, and commodity CFDs, making it suitable for both novice and experienced traders. Once you’ve signed up for an account, you’ll need to decide on your investment amount, whether it’s a fixed sum or a portion of your capital.
To deposit funds into your LegacyFX account, you’ll be required to provide certain identification materials, such as a utility bill with your full address or a copy of your ID. Additionally, you’ll need to submit a copy of the front and back of your credit card, including the last four digits.
Managing your account with LegacyFX is straightforward through their website. The website offers a range of useful calculators, including pivot calculators, Fibonacci calculators, and real-time charts. You can also review your historical trades and access valuable market analysis, helping you choose the best trading strategy to meet your investment goals.
LegacyFX compared to other brokers:
Established in 2012, LegacyFX has earned numerous accolades for its brokerage services. It offers CFDs on spot commodities and utilizes MetaTrader 5 software for trading. Moreover, it provides extensive resources to assist novice traders in getting started, including a comprehensive trading academy. LegacyFX offers a variety of account types, including fixed and variable spread accounts.
LegacyFX also offers a wealth of market research tools, including various indicators and calculators to aid in market analysis. Their website features a market news page and a glossary of market analysis terms. Additionally, they offer over 80 videos for those looking to expand their knowledge of Forex trading, making LegacyFX an excellent choice for both beginner and advanced traders.
The company behind the LegacyFX brand is registered with the Cyprus Securities and Exchange Commission (CySEC) and holds various financial services regulatory licenses in different countries. It adheres to MiFID guidelines and is a member of the Investor Compensation Scheme. However, it’s worth noting that LegacyFX has a relatively high minimum deposit requirement and restrictions on traders from certain countries. Nevertheless, when compared to other brokers, LegacyFX stands out by offering a more comprehensive range of services.
Selecting a cryptocurrency broker involves considering several critical factors, and the availability of the cryptocurrencies you want to trade is paramount. Both LegacyFX and FP Markets offer a wide range of trading options to cater to their clients’ needs. Regulatory compliance is also an essential consideration when choosing a broker, providing peace of mind to traders.
LegacyFX is a high-quality broker known for its exceptional customer service and transparent market analysis. Their user-friendly software and educational tools are valuable assets for new traders looking to navigate the market successfully. Additionally, LegacyFX employs an automated customer approval system to streamline the onboarding process, ensuring efficiency. They also have dedicated customer support and quality assessment teams in place to assist traders as needed.
LegacyFX is a popular retail broker that has attracted five million traders from 190 countries. Their MT5 platform supports high leverage and offers a wide selection of trading tools. They also provide reasonable minimum deposit requirements, competitive pricing, and valuable investor education content.
Review of LegacyFX Training Materials:
While LegacyFX claims to be a leader in providing knowledge, their training materials and tools leave room for improvement. They offer numerous videos, but the content tends to be brief and mostly introductory, lacking in-depth insights. The website lists 11 e-books and webinars, but there is a noticeable absence of comprehensive training materials.
A typical Platinum account with LegacyFX requires a substantial $25,000 deposit, but it offers commission-free trading on thousands of markets. You can fund your account in USD, EUR, or GBP. If you prefer not to invest such a significant amount, you can opt for a standard account and gradually build your trading skills. However, this approach may require more time and patience, making it advisable to start small and work your way up.
LegacyFX also provides a variety of video tutorials tailored to beginners. These concise lessons offer valuable insights into the fundamentals of trading. The videos are well-presented, animated, and informative. LegacyFX boasts an extensive range of assets, including the option for swap-free trading across over 200 CFD instruments. They offer four types of trading accounts, including fixed spread, variable spread, and free accounts with minimal minimum requirements.
While LegacyFX’s website does not explicitly state its regulatory body, it is associated with the Vanuatu Financial Services Commission (VFSC). The VFSC is the agency responsible for investigating complaints related to broker manipulation. It’s important to note that LegacyFX is not regulated in the United States, and therefore, U.S. clients cannot register with the broker.
As a legitimate online broker, LegacyFX provides a wealth of educational resources. These include market news updates, an economic calendar, currency calculators, and Autochartist plugins for MetaTrader 5. The site also offers a safe mode software, a three-loss trading demo account, analysis tools, and webinars to enhance traders’ skills and knowledge.
In addition to offering educational materials and tools to its members, LegacyFX also stands out by offering commission-free trading to its clients. The trading fees for stocks and options vary depending on the type of account you choose. Overall, LegacyFX offers a comprehensive trading experience for traders looking to explore the cryptocurrency market.