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LegacyFX Minimum Deposit

LegacyFX Minimum Deposit

Overall Rating

4.7/5

Rated #250 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

CySEC, FCA, VFSC, NBRB

📱 Trading Desk

Meta Trader 5

Crypto

Yes

📈 Total Pairs

104

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The LegacyFX Minimum Deposit amount to open a real trading account is 500 (five hundred) US Dollar.  The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours

They have a minimum deposit amount of $500. While this is not the highest deposit requirement in the industry, it is higher than that of many other brokers, which generally start between $1 and $100.

 

Deposit fees and deposit methods

Unfortunately, They have a very limited selection of funding methods available. Traders can choose to deposit securely with one of the funding methods below:

  • Visa
  • Mastercard
  • Wire Transfer
  • Neteller
  • Skrill
  • Bitcoin
  • Myfatoorah

 

Deposit currencies accepted by the broker are also relatively limited, and consist of the following:

  • EUR
  • USD
  • GBP

 

The broker does not accept a more diverse range of deposit currencies, such as ZAR (Rand), which means that traders from these countries will likely incur conversion fees.

They do not charge any deposit or withdrawal fees. Once an account has been opened, using a specific currency you may not change your account’s base currency.

A transaction cannot be cancelled; you can, however, immediately request a withdrawal for the full amount of your deposit. This will be processed almost immediately upon being credited to your account.

They take all necessary measures to secure client funds and ensure a safe trading environment. Client funds are insured and held in company-managed, segregated fiduciary bank accounts, which cannot be used for internal company purposes.

Transactions are executed by Level-1 PCI-Certified international service providers, and servers are all located in data centres that are SAS-70 certified.

Investor activities are secured by 256-bit RapidSSL encryption and our entire trading system is meticulously fire-walled.

The broker’s regulatory requirements include constant comptroller supervision and monthly submission of financial reports to an external accounting firm.

The broker is required by law to maintain sufficient liquid capital to cover all client deposits and expenses. They continuously re-evaluate policies, standards and procedures, and continuously updates its techniques and technologies.

 

Step by step guide to deposit the minimum amount

You may deposit funds into your account by clicking on the payment button at the top of the WebTrader platform or the Trader Toolbar sidebar on their web page. You may also click on Deposit on your Personal Account main page menu.

 

Overall Rating

4.7/5

Rated #250 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

CySEC, FCA, VFSC, NBRB

📱 Trading Desk

Meta Trader 5

Crypto

Yes

📈 Total Pairs

104

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Pros and Cons

✔️PROS ❌CONS
Easy deposit process

No deposit fees

Relatively high minimum deposit

Limited deposit methods

Limited deposit currencies

 

You might also like: LegacyFX Sign up bonus

You might also like: LegacyFX Demo account

You might also like: LegacyFX Fees and Spreads

You might also like: LegacyFX Account Types

You might also like: LegacyFX Islamic Account

 

FAQ

What is the minimum deposit for LegacyFX?

They have a minimum deposit of $500 depending on the broker account.

As such, the minimum first deposit depends on your account type – the equivalent of $500 for a Silver Account, $5,000 for a Gold and $25,000 for a Platinum Account.

How do I make a deposit and withdrawal with LegacyFX?

  • Visa
  • Mastercard
  • Wire Transfer
  • Neteller
  • Skrill
  • Bitcoin
  • Myfatoorah

Does LegacyFX charge withdrawal fees?

No, They do not charge deposit or withdrawal fees

How long does it take to make a withdrawal?

Withdrawals take a minimum of 3-5 business days upon completion of compliance requirements. For wire transfers, please allow for extra time, which is subject to the conditions governing banking services in your particular location.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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