What Account Types and Fees Does LegacyFX Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners |
Low minimum deposit, user-friendly interface, educational resources |
Minimum deposit of $500, suitable for new traders |
| Bronze Account |
Entry-level traders |
Enhanced features, trading signals, and mentoring |
Requires a minimum deposit of $1,000 |
| Silver Account |
Intermediate traders |
Better spreads, personalized support, advanced trading tools |
Minimum deposit of $3,000, suitable for developing strategies |
| Gold Account |
Experienced traders |
Low spreads, higher leverage, and exclusive market insights |
Minimum deposit of $5,000, for serious traders |
| Platinum Account |
Professional traders |
Customized trading conditions, dedicated account manager |
Minimum deposit of $10,000, provides advanced features |
| Premium Account |
High-volume traders |
Very low spreads, advanced analytics, and reports |
Minimum deposit of $25,000, suitable for significant trading |
| VIP Account |
Corporate clients |
Tailored services, priority support, and custom features |
Minimum deposit of $50,000, requires corporate documentation |
| Islamic Account |
Muslim traders |
Swap-free trading, adheres to Sharia law |
Available for all account types upon request |
| Demo Account |
All traders |
Practice trading without risk, full access to trading tools |
No time limit, ideal for testing strategies |
Account Opening Process
Opening an account with LegacyFX involves a straightforward process:
1. Choose Account Type: Select the account that matches your trading needs based on deposit requirements and features.
2. Registration: Visit the LegacyFX website and click on the ‘Open Account’ button. Complete the registration form with personal details.
3. Submit Documents: Provide necessary identification documents, including a government-issued ID and proof of address.
4. Identity Verification: LegacyFX will verify your identity, which may take up to 24 hours.
5. Funding Your Account: Deposit funds via various methods like credit/debit cards or bank wire transfers.
6. Start Trading: Once your account is activated, log in and begin trading. You can upgrade to a professional account later if needed.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.6 |
$0 (ECN: $3.5/lot) |
Competitive spreads for major pairs |
| Forex (GBP/USD) |
0.8 |
$0 |
Low trading costs for frequent traders |
| CFDs (Stocks) |
1.6 |
0.45% per trade |
Commission applies only to stocks |
| CFDs (Indices) |
1.0 |
$0 |
No commission on major indices |
| CFDs (Commodities) |
1.5 |
$0 |
Standard commission-free trading |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable fees based on market conditions |
Other Fees
LegacyFX maintains a transparent fee structure:
– Deposit/Withdrawal Fees: No fees for deposits or withdrawals via major methods.
– Inactivity Fees: Applicable after 12 months of inactivity.
– Platform Usage Fees: No fees for using the MetaTrader 5 platform.
– Overnight Interest (Swap Rates): Charged/credited based on account type and market conditions.
– Currency Conversion Fees: May apply for accounts holding multiple currencies.
