Investing in the currency market requires a little research on the options available to you. There are a number of different factors that you will need to consider, such as regulations, account types, and trading commodities. It’s important to do your research because some scams can be difficult to spot.
Minimum deposit
Traders interested in opening an account with LegacyFX should be prepared for a steep minimum deposit. The minimum deposit for a live trading account with LegacyFX is $500. This is equivalent to 210 165 NGN. The amount is based on the current exchange rate between the US Dollar and the Nigerian Naira.
If you are interested in opening an account with LegacyFX, you can do so by using your credit card or electronic wallet. Alternatively, you can deposit money by bank wire transfer or Skrill. You can also open a LegacyFX demo account to test the service.
Traders can also invest in a PAMM account, which allows them to receive income without actually trading. There are three types of PAMM accounts: silver, gold, and platinum. Traders who invest in a platinum account are offered educational bonuses and 1-on-1 support. They also have access to professional trading platforms.
Leverage
Whether you are a beginner or an experienced trader, LegacyFX has several trading accounts for you to choose from. Each account has competitive trading conditions. In addition to trading accounts, LegacyFX also offers market analysis, trading signals, and tips.
The brokerage offers a glossary of terms. It also has a deal size calculator, a pivot calculator, and a Fibonacci calculator. They also have a blacklist of scammers. The website is also available in several languages.
LegacyFX also offers a free demo account. They have a few different accounts, including personal, silver, and gold. The account types vary in the minimum deposit required. In order to open an account, you need to provide documents, such as a photocopy of your credit card or government-issued ID.
Account types
Founded in 2012, LegacyFX is an online forex broker that offers trading in CFDs. The broker is based in Larnaca, Cyprus, and is regulated by several authorities. The company also offers trading signals, market analysis, and customer support.
LegacyFX has more than 200 assets available as working instruments. They offer a wide variety of assets including Forex, commodities, CFDs, and indices. These are all available as working instruments on the MetaTrader 5 platform. The MetaTrader 5 platform supports a variety of order types, making it suitable for professional and beginner traders.
LegacyFX offers three types of accounts for European residents. The first type is called a Standard account. In order to open an account, you need to provide a government-issued ID and credit card. You also need to upload documents to verify the account.
Regulations
Traders should be aware of regulations for legacy fx scams. The market can be volatile, and the level of risk involved can be high. Before opening an account with a broker, you should be familiar with the risks and understand how to protect your trading capital.
LegacyFX provides various account types for traders to choose from. They also offer educational materials for beginners. This includes videos and ebooks.
LegacyFX offers a number of payment methods for traders to use, including credit and debit cards, bank wire transfers, and Skrill. They also offer a PAMM account, which is a type of investment account for clients to invest in without having to trade. The funds in this account are segregated from the funds of the broker.
Commodities offered
Several commodity and CFD brokers offer their services. LegacyFX is one of these. It offers a wide variety of trading instruments including equity CFDs, commodities, and indices. The broker is registered in Vanuatu, Cyprus, and is under the supervision of the Cyprus Securities and Exchange Commission (CySEC).
LegacyFX offers multiple types of accounts. It’s possible to choose between seven different trading accounts. Each account offers different features.
LegacyFX allows clients to deposit funds via bank wires, Skrill, Neteller, Perfect Money, or VLoad. The broker requires a minimum deposit of $500. It also requires proof of identity and residency. It has a telephone number and a web form that can be used to set up an account. The broker also has a live chat option.
Islamic trading account
Traders who are of Islamic faith can open an Islamic trading account with LegacyFX. It is a swap-free account that is available to all traders and adheres to the principles of Islamic law.
To open an account with LegacyFX, you will need to first fill out an online application form and submit your personal information. This includes your first and last name, phone number, address, and email. You will also need to provide proof of your identities such as your passport or a utility bill.
Once your application has been approved, you will be able to access your trading account through the client dashboard. You will also need to provide your Taxpayer Identification Number and sign a DOD form. You will then be able to trade a range of commodities and stock CFDs.
