LegacyFX Broker Review
LegacyFX is an online financial services provider that offers clients a wide variety of assets to choose from. This broker has established a name for itself in the industry, and boasts transparency and effectiveness over years of service.
LegacyFX Security and Licenses
Transparency is one of LegacyFX’s core values, which is why it employs a variety of security measures and adheres to the highest safety standards. Since its inception in 2017, LegacyFX has been licensed and supervised by the VFSC. Aside from that, this broker is certified by another respectable regulatory body, which is CySEC.
LegacyFX is a trading brand of a European company that has received approval from a number of European regulators, which includes the FCA. It is also authorised and registered in Germany by the BaFIN and it adheres to the regulatory standards of CySEC.
LegacyFX has received several awards and accolades over the course of its life. For the year 2020, it won the awards for BEST FOREX BROKER and BEST EDUCATION & TRAINING in the Middle East. The globalbrandsmagazine.com also called it the BEST NEW FOREX BRAND OF 2020. It has also received other awards in its early years of operation, in addition to these recent ones.
LegacyFX Platform Services
LegacyFX provides high-quality network services, including a secure platform, competitive spreads and leverage, and a diverse portfolio of products and properties. The following are some of this broker’s excellent trading platform facilities.
MetaTrader5
LegacyFX offers MT5 in two versions: desktop and web, which allows clients to select which is better for them. There are over 80 indicators and graphical tools, as well as a customization tool. Furthermore, clients also benefit from rapid execution speed, an EA strategy tester, and a historical data center. MT5, unlike MT4, is a multi-asset platform that allows you to trade in up to five financial markets, making it suitable for long-term and short-term trading.
LegacyFX Trading Conditions
Spreads
The spreads provided by LegacyFX are normally dependent on the account form selected by the trader. Each account type has a different spread spectrum than a fixed or variable account. The spread for major currency pairs, for example, begins at 1.6 pips under the Silver account. For the others, you can get spreads as low as 0.6 pips.
Leverage
LegacyFX provides leverage ranging from a minimum of 1:5 to a maximum of 1:200, depending on the commodity being traded. The standard spread for stocks is 1:5, for currencies it’s 1:200, and for precious metals 1:100. All these are pretty much industry standard. On the other hand, cryptocurrencies offer a 1:5 leverage, while commodities use 1:100.
Assets
LegacyFX has a total of 200 instruments across six asset groups. There are more than 40 currency pairs, ranging from majors to minors to exotics. This broker offers 12 global indices, both major and small, for trading. There are seven precious metals, including gold and silver, as well as the most commonly traded cryptocurrencies. LegacyFX provides 11 commodities in the oil and agriculture sectors, as well as global equity stocks such as the FTSE 100 and DAX 30.
LegacyFX Tools and Analytics
LegacyFX provides their clients with three simple, but equally important, tools and analytical materials. Market News, Technical Research Software, and Forex Signals are the three groups.
Daily News
This tool brings all traders up to date on the most recent market developments, as well as political, economic, and financial events that have a direct impact on markets. These daily updates are necessary in informing traders all around the world about the state of various assets they trade, as well as any event that may impact their trades. Topics on this tool range from the dollar’s movement, to Fed rates, to central bank policies, to oil prices, and to IPOs.
Technical Analysis
In the day-to-day trades of investors, technical analysis tools are critical. They will help you spot business opportunities by recognizing trends, calculating support and resistance, and more. Traders use technical indicators as analytical instruments to evaluate each trade all over the world.
Forex Trading Signals
LegacyFX also offers a range of live forex signals to assist traders in identifying market opportunities. It displays major price fluctuations in different currency pairs in order to help traders make profitable trades.
LegacyFX Conclusion
LegacyFX has established itself as a dependable and trustworthy online brokerage company that provides a comprehensive range of services. It has a high level of client trust and is highly regarded by broker reviewers. It has also gained a number of prizes, proving that it is worthwhile to trade with.
