Our Legacy FX Review
Legacy FX Review-How Safe is it to Trade with the Broker?
Based in the Republic of Vanuatu, LegacyFX was established in the year 2012. However, in 2017 the broker rebranded as well as re-launched its trading services under its new management team. At present, the brokerage firm is run and managed by A.N. All New Investments Ltd, which is focused on Financial Investment and is based in Cyprus. LegacyFX allows traders to trade a wide variety of financial instruments including commodities, currency pairs, indices, and stocks.
Here, find a comprehensive LegacyFX review and also learn whether it is safe to trade with the broker or not.
LegacyFX The trading platforms
LegacyFX offers the MT4 as well as the MT5 platform for trading. In addition to this, the broker also has the Sirix platform that allows traders to engage in social as well as forex trading. We found both the platforms to be user-friendly and rich in essential trading tools & features. They also allow traders to access their accounts through mobile devices, which is a much-needed feature for traders who wish to trade while on the go.
Trading Accounts
At LegacyFX, traders have the option of setting up 3 distinct types of accounts, including Silver, Gold, and Platinum account. For the Silver trading account, the minimum deposit is $500, whereas the spread is 2.4 pips. On the other hand, the Gold account requires traders to make a minimum deposit of $5,000 with spreads at 1.5 pips. Similarly, the minimum deposit for a Platinum account is $25,000, and the fixed spreads begin from 0.8 pips. Apart from the above, traders of Islamic origin can create an Islamic account, and those new to trading can set up a demo account to practice trading before entering the live market.
It is important to note that the broker does not allow trades from certain countries such as Israel, USA, Syria, Iran, North Korea, Afghanistan, Somalia, Myanmar, Iraq, Yemen, South Sudan, and others.
Deposit & Withdrawals
To deposit funds with LegacyFX, you can choose any payment method including Klarna, Qiwi, Paysafe, Przelewy24, GiroPay, ePay. Bg, Rapid Transfer, eps, and Nordea Solo. Apart from this, LegacyFX also accepts payment via Debit/Credit card and bank wire transfer. The broker doesnโt accept cheque or cash deposits. Withdrawals are processed through PerfectMoney, Neteller, WebMoney, and Skrill as well as through Bank Wire Transfer. Also, the minimum withdrawal amount is $200, and the broker charges a withdrawal fee to the tune of โฌ50. Withdrawals processed through wire transfer may take anywhere between 2-5 days to be credited to the traderโs account.
Regulations & Security
One of the biggest advantages of trading with LegacyFX is that the broker offers segregation and security of funds deposited with the firm. LegacyFX not only ensures clientโs funds but also maintains the same in a separate bank account at Astrobank Limited. This implies that clientsโ funds are never used for making any sort of payments or even managing the companyโs running expenses.
As far as regulations are concerned, the broker is regulated by the CySEC.
Conclusion
In a nutshell, LegacyFX is a highly regulated broker that offers excellent trading platforms and features with no commissions charged to the traders. The only drawback is that the broker’s spreads are very high, especially for the EUR/USD pair which stands at 3.5pips.
They give a beautiful picture of profit (every month 15-25% profit) and try to suck all your money. Please don’t ever think to deposit 1$ to this scam broker. I lost 25k$ because of this scam broker. If you want please contact me.
I agree stay away from these scammers. They will suck you dry and leave the account with a big fat $0 balance in no time and take off with your money.
I was thinking of doing so
my personal experience with this company is very good a i got market analysis every day (i made my own research as well) but from what i saw so far they pretty good made first profit withdrawal and got may debit card
Reliable broker with good spreads.
be careful josh pharell is big scammer he will disappointed you
Are you sure
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Most investment platform is an utter scam! Beware of their deceptive promises and flashy facade. Once lured in, they trap and leave you devastated with no chance of making Withdrawals? Their support is non-existent, conveniently ignoring your cries for help. Hidden fees bleed your hard-earned money dry, I file a recovery case to globalscamhunt net and they gave an aid to my withdrawal problems.