Legacy FX MetaTrader 5 Trading | MT5 Forex Broker
First a little bit more about this broker
they have been in business for some years and had a rough start . they picked up the pieces got themselves regulated and have been building a broker that could be used as an example for many others .
Legacy FX Regulation
The company which owns LegacyFX is A.N All New Investments LTD. this company registered in Cyprus, they hold a full License with the Cyprus Securities and Exchange Commission (CySEC).
The regulation does guarantees the clients’ interest. Financial regulators are state institutions which serve to protect clients from shady practices. CySEC is often preferred by Forex brokers, as the country’s licensing system offers access to the entire EU market. That regulation however requires minimum holdings of close to a Million euro, by the company.
A broker who is licensed under CySEC also takes part in the local compensation scheme, meaning the company sets apart a portion of its profits, together with other similar firms, hence forming a pool, which then serves to compensate clients in the event one of the companies goes bankrupt.
This is common practice in many jurisdictions and other financial sectors. A fully licensed broker in Cyprus offers their clients such a guarantee of up to EUR 20,000 of their trading accounts. LegacyFX is not different , they are very transparent on their site about their operation and who is involved.
Legacy FX MT5 trading platform
The MetaTrader 5 is a powerful Desktop and web-based Trading platform that grants you access to the global markets .
MT5 allows you to chart assets at 21 different time frames and gives you the ability to have up to 100 charts open at any given time.
Access the world’s most popular and powerful trading platform. Employ the major indicators and tools in industry.
Multiple Order Execution Types
- Trailing Stops, Stop limit, and Market orders
Chart-Based Trading and Position-Keeping.
- Modify and optimize positions on-chart
Expert Advisors and Custom Indicators
- Download or write your own advisors & indicators
Instant Response to Trading Alerts & Signals
- Download MetaTrader-5 for free.
LegacyFX Account Types
The broker offers a total of 3 different account types
The most accessible trader account is the lowest account called Silver , which features a minimum deposit requirement of just $500.
The Silver account is generous when it comes to features: it covers everything higher-tier accounts do, with the exception of 1-on-1 support, Dealing Room direct line and advanced analysis.
All accounts types are 0-swap ones, ( Islanmic Accounts) . Educational bonuses and technical analysis are also parts of the Silver package.
The maximum available leverage on this account is 1:30.
Those who want to register for the most popular account option of the broker, will have to deposit at least $5,000.
This Account Type takes the trading game to an entirely new and higher level, offering 1-on-1 support, Dealing Room hotline and analysis insights as well, in addition to everything else delivered by the Silver account.
Biggest Advantage to the Gold account over the Silver Account
That’s not where the real difference between the two account-types is made though. While Silver account holders see their spreads starting from 2.4 pips (not at all impressive indeed), for Gold account holders, the spreads start from 1.5 pips.
The maximum available leverage is 1:30 on the Gold account as well.
Those who want to register for the VIP Platinum account of the broker,and get the most attractive trading conditions will have to deposit at least $25,000.
To receive the best the trading conditions, traders can open the Platinum account, which drives spreads as low as 0.8 pips.
The other trading conditions (such as the maximum leverage) remain the same, and it goes without saying that all the possible perks and features are included in this “VIP” package.
Legacy Fx is on its way to become one of the largest brokers with a solid and good reputation, their customer service and overall broker performance is second to none, fully regulated and very innovating we expect great things from this broker and would be worth it for you to take a look