LegacyFX Review – What to expect from the broker

LegacyFX is a CFD broker founded in 2012. The company is licensed in Europe by the CySEC and is in the register of several European financial institutions including the tier no 1 regulatory body – the UK’s FCA. LegacyFX features CFD trading on forex, stocks, indices, commodities and cryptocurrencies. The minimum spread is for EUR/USD 2.4 pips*, the minimum deposit is set at $250.

What do we cover in our LegacyFX Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.LegacyFX.eu
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex, commodities, stocks, indices, cryptocurrencies
  • Minimum deposit: $500
  • Demo account: Yes, free of charge (30-day expiry)
  • Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, Trustly Credit and debit cards (Visa/MasterCard)

LegacyFX Trading Platform

For FX and CFD trading, LegacyFX offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application.

LegacyFX Spreads

As any other CFD broker, LegacyFX charges a spread fee. For the most current spread charges, please visit the LegacyFX.eu website. Here is a spread comparison table that contrasts LegacyFX spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
LegacyFX* 2.4 2.7 2.8 3.1
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Spreads recorded on 30.05.2019 at 20:10 GMT taken from the website of the broker for the silver variable account. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

To sum up the LegacyFX Review

LegacyFX adheres to strict regulatory guidelines of the CySEC (No. 344/17) and FCA. The broker offers decent spreads on most assets and features a free demo account for practice trading (limited to 30 days). The amount of available CFDs is not particularly attractive, especially when we look at the number of tradable cryptocurrencies.

Your review can make a difference to other traders, please leave a comment if you have any personal experience with LegacyFX.



Michael
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