There is no doubt that trading in the financial markets is very rewarding, but you first need to find a reliable broker to get started. This is easier said than done, primarily because you have thousands of options to choose from. So, how do you go about picking one? This is where you do your research and find out what a broker can offer to you before you pick one. In this way, you will be able to choose the one that can offer you everything you are after. Reading this LegacyFX review can help you in finding out what this broker has to offer.
You will come across this multi-asset broker that offers forex and CFD trading services globally when you begin your search. LegacyFX was founded in 2017 and its headquarters can be found in Cyprus. Even though it hasn’t been around for as long as some other brokers, the reputation that LegacyFX has developed is quite impressive. It will draw your attention, but you should check out what it offers before you open an account. Let’s begin:
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A.N All-New Investment Limited established LegacyFX in Cyprus and it is under the regulation of the Cyprus Securities and Exchange Commission (CySEC). This gives the brokerage the ability to offer its services throughout the EEA zone. It also complies with the European MiFID (Markets in Financial Instruments Directive). It is also regulated by the FCA in the UK, BaFin in Germany, NBRB in Belarus, and VFSC in Vanuatu.
Due to its regulatory status, all client funds are kept in segregated accounts by LegacyFX and they are deposited with reputable and leading banks. Likewise, the brokerage is also a part of the Investor Compensation Fund, which means traders can get compensated in case something goes wrong.
It is understood that you cannot choose a brokerage without knowing the instruments it offers and LegacyFX has put together more than 200 instruments for its clients to choose from. You will have access to the leading indices, shares, forex currency pairs, commodities, cryptocurrencies as well as CFDs. This gives you the opportunity to diversify your trading portfolio, which can be extremely helpful in minimizing risks and maximizing profits.
As this is the feature you use the most when you open an account with a broker, it is something you need to take into consideration. You will definitely be pleased with LegacyFX in this area because they offer you the most renowned trading solution in the market i.e. the MetaTrader 5. The MT5 is a favorite of all professional traders because of its comprehensive trading features and functionalities. This intuitive platform can give traders access to advanced charting tools as well as trading indicators.
One of the most important things you will come to know is that LegacyFX offers you access to the desktop, web as well as mobile versions of the MT5. This gives you flexibility because you can choose the trading platform you are most comfortable with. It also supports multiple languages and this is another advantage.
As you have to open an account with the broker, it is best to know what your options are and LegacyFX has come up with three of them, which are Silver, Gold, and Platinum. The minimum deposit for the Silver account is $500 and the Gold account comes with a minimum deposit of $5,000. Platinum needs a minimum deposit of $25,000. Other than these account options, you will also find an Islamic account available, as well as a demo account for practice. You can choose an account option, depending on whether you are a beginner, intermediate trader, or professional.
One important thing to know about a broker is the support they offer and LegacyFX has ensured that its clients can enjoy 24/7 assistance. Their support staff is available in English, Russian and Arabic and can be contacted via call, email, or live chat.
This combination of offerings makes LegacyFX a well-rounded platform for every trader and can help them achieve their goals.
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