LegacyFX Spreads, leverage, minimum deposit Revealed

　　General Information & Regulation

　　The Brand LegacyFX is an established broker providing a wide range of products and services for traders worldwide since 2017. The company “AN All New Investments BY LLC” (operating under the LegacyFX brand) was registered on 12/14/2018 (UNP 193180778) with Company Registration number 193180778 (Certificate of the National Bank of the Republic of Belarus No. 17). The activities of AN All New Investments BY LLC are regulated by Decree of the President of the Republic of Belarus No. 231 dated June 4, 2015 “On the implementation of activities in the OTC Forex market”.

　　Market Instruments

　　Besides a good selection of currency pairs, traders can diversify their portfolio with indices, commodity CFDs, metals, cryptocurrency pairs, and stocks on LegacyFX platform.

　　Minimum Deposit

　　There are four account options on offer: Silver, Gold, Platinum, and VIP. The Silver account is available from a minimum deposit of $500, the Gold account for a deposit of $5,000, $25,000 for the Platinum account, and the VIP account is yielded for deposits exceeding $50,000. Swap-free Accounts are available, but swap-free accounts are granted to all traders.

　　LegacyFX Leverage

　　Leverage varies from 1:5 to 1:200 depending on the asset traded: Stocks – 1:5, Forex – 1:200, Metals – 1:100

　　Indices – 1:100, Commodities – 1:100, Cryptocurrencies – 1:5.

　　Spreads & Commissions

　　Traders can choose between fixed or variable spread accounts. Variable spreads for major forex pairs such as EUR/USD start at 1.6 pips with the Silver account. Spreads get tighter with the Gold and Platinum accounts, going down to 0.6 pips. Fixed spreads are around 3 pips for EUR/USD with the Silver account. All assets are commission-free, except for stocks where charges range from 0.15% to 0.45% depending on the account.

　　LegacyFX Trading Platform

　　LegacyFX offers both the web-based and downloadable desktop versions of MT5, the successor to the popular MT4. The software complements all levels of experience but is a particular favourite among advanced traders.

　　Deposit & Withdrawal

　　The minimum deposit for a LegacyFX account is $500, while there is a maximum deposit of $10,000 with credit/debit cards. LegacyFX‘s website clearly states that withdrawals to credit cards can only be in the amount of the deposit from that particular card; the remainder will be wired to the client’s bank account. Clicking on Bank Wire Transfers returns the bank wire information, while all other buttons lead to a log-in screen. Legacy FX covers all deposit and withdrawal fees for transactions via major credit/debit cards, Skrill, Neteller, and bank wires above $200.

　　Customer Support

　　Support is available 24/5, and clients can either send an e-mail, call support, or engage with customer support via a live chat feature. The support staff is fluent in English, Arabic, and Russian. LegacyFX is reachable if needed, but most traders should never require this service.