LegacyFx group includes 2 related companies.
LegacyFx CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
LegacyFx VU - located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, VU company accepts European traders, so one can open a trading account there.
LegacyFx group accepts clients from all over the world, excluding USA, Belgium, France, Israel, Iran, Syria, Afghanistan, Myanmar, North Korea, Somalia, Yemen, Iraq, Sudan, South Sudan, British Columbia, Ontario and Manito.
Forex broker offers the following underlying assets for trading.
|45+ Currency Pairs||Based on major and minor world currencies.|
|10 Crypto Pairs||Based on Bitcoin, Ethereum, Litecoin, Ripple, BNB, Solana.|
|9 Indice CFDs||Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.|
|10 Metal CFDs||Based on Gold, Silver, Platinum, Palladium, Copper, Aluminium, Nickel and Zinc.|
|5 Energy CFDs||Based on Crude Oil (WTI, Brent), Natural Gas, Gasoline and Carbon Emissions.|
|7 Soft CFDs||Based on Cocoa, Coffee, Corn, Cotton, Soybean, Sugar, Wheat.|
|300+ Stock CFDs||Based on shares of US, UK and EU companies.|
LegacyFx is a forex & CFD broker headquartered in Cyprus, where it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the European Securities and Markets Authority (ESMA). In addition to this main office, the broker also has one offshore entity registered in Vanuatu.
As usual, the entity registered in Europe is meant for European traders, and follows all EU regulations. Among other things, this means that trading leverage here is limited to just 1:30. Still, it is known that LegacyFx’s offshore branch also accepts European clients, which means that it is possible even for these users to get high trading leverage of up to 1:200.
A nice thing that stands out with LegacyFx is the strong focus on education, tailored both for beginners and more experienced traders. Among other things, traders can find videos, e-books and entire courses that cover pretty much everything that is needed to trade forex successfully.
In terms of assets that can be traded, LegacyFx offers a large selection of stock CFDs, with more than 300 stocks listed in the US, UK and EU countries to choose from. The broker also has more than 45 forex pairs, a handful of crypto pairs, and the most popular stock indices and commodities available for trading in the form of CFDs.
All of these assets can be traded on the MetaTrader 5 (MT5), which is offered in the standard downloadable version for Windows computers, as well as in a web version for use on all types of computers, and as a mobile app. MT5 remains one of the most popular forex trading platforms in the market, despite it having launched all the way back in 2010. Among the reasons for this is the fact that it contains one of the largest marketplaces for custom technical indicators and trading strategies of any platform.
During the sign-up process with LegacyFx, new clients are asked to choose one of several account types to trade with. As with most brokers, the account type a trader can use depends on how much capital is committed, with better terms offered to those who deposit larger amounts.
With LegacyFx’s EU-based branch, the account types are:
– Silver account, available for a minimum deposit of USD 500 and with spreads from 1.6 pips
– Gold account, available for a minimum deposit of USD 5,000 and with spreads from 1 pip
– Platinum account, available for a minimum deposit of USD 25,000 and with spreads from 0.6 pips
For clients trading with LegacyFx’s offshore-based branch, however, the list of account types is a bit different:
– Standard account, available for a minimum deposit of USD 500
– Bronze account, available for a minimum deposit of USD 1,000
– Silver account, available for a minimum deposit of USD 3,000
– Gold account, available for a minimum deposit of USD 5,000
– Platinum account, available for a minimum deposit of USD 10,000
– Premium account, available for a minimum deposit of USD 25,000
– VIP account, available for a minimum deposit of USD 50,000
All of the trading accounts are STP-style accounts with commission-free trading and instead slightly wider spreads.
To fund a trading account, clients of the EU-based branch are limited to use either Visa, MasterCard or a bank wire transfer. International clients, on the other hand, have many more choices when it comes to funding methods, including e-wallets such as Skrill, Neteller, PerfectMoney, and PayRedeem, to name just a few. In addition, the offshore branch also accepts crypto deposits and withdrawals with Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), or XRP.
All in all, it’s clear to us that LegacyFx is a forex and CFD broker that is working to stay up to date on what is happening in the trading world. We believe the choice to accept crypto deposits, as well as the large selection of crypto pairs for trading, is evidence of this.
However, for the broker to become even more attractive, we think there should be an option to trade with ECN-style accounts where more experienced traders can pay a commission fee on their trades instead of the relatively wide spreads. Until this is in place, LegacyFx may not be the best place to trade for larger and professional forex traders.