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Do you want to know which is the better broker between LegacyFX and AM Markets ?
In the table below, you can compare the features of LegacyFX , AM Markets side by side to determine the best fit for your needs.
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XAUUSD:27.14
EURUSD: -5.76 ~ 2.39
XAUUSD: -29.66 ~ 14.46
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of legacyfx, am-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
LegacyFX | Basic Information |
Company Name | LegacyFX |
Headquarters | Belarus |
Regulations | Regulated |
Tradable Assets | Currencies, stocks, indices, commodities, and cryptocurrencies |
Payment Methods | International banks |
Trading Platforms | MT5 trading platform |
Customer Support | Email (info@legacyfx.by)Phone (+375 291788410) |
The Brand LegacyFX is an established broker providing a wide range of products and services for traders worldwide since 2017. It grants traders access to a broad spectrum of tradable assets, encompassing currencies, stocks, indices, commodities, and cryptocurrencies. Through its MT5 trading platform, LegacyFX provides users with a seamless and intuitive interface, known for its robust functionality and ease of use.
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”.
LegacyFX is regulated, operating under the supervision of the National Bank of the Republic of Belarus and licensed under number 193180778. It ensures that brokers operate legally, minimizing the risk of fraudulent activities and fostering a secure trading environment. Regulated brokers adhere to stringent financial reporting standards, offering investors transparent and dependable information to make informed decisions. However, while regulation enhances oversight and accountability, it does not entirely eliminate risks. Therefore, traders should maintain vigilance and exercise caution when participating in online trading activities.
LegacyFX offers a diverse range of trading instruments, providing traders with ample opportunities to diversify their portfolios and explore various markets. The platform utilizes the popular MetaTrader 5 platform, known for its advanced trading tools and user-friendly interface, enhancing the trading experience for users. Additionally, LegacyFX operates with regulatory oversight, providing clients with an added layer of security and peace of mind. However, the platform's website is currently inaccessible, which could pose challenges for users trying to access essential information or execute trades. Furthermore, high account minimums can be a burden to most traders, especially beginners.
Pros | Cons |
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Besides a good selection of currency pairs, traders can diversify their portfolio with indices, commodity CFDs, metals, cryptocurrency pairs, and stocks on LegacyFX platform.
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.
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.
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 offers traders access to the MetaTrader 5 (MT5) trading platform, renowned for its advanced features and versatility. With the MT5 platform, traders can execute trades across various financial markets, including forex, stocks, indices, commodities, and cryptocurrencies.
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.
LegacyFX offers customer support through email at info@legacyfx.by and phone at +375 291788410.
In summary, LegacyFX offers traders a wide array of trading instruments and account types, coupled with the renowned MetaTrader 5 platform, fostering flexible and accessible trading opportunities. The platform operates under regulatory oversight, ensuring adherence to industry standards and bolstering investor confidence. However, the inability to access the website and the lack of clarity regarding account types may hinder the trading experience for some users. Traders are advised to proceed with caution, conduct thorough research, and verify information directly with LegacyFX to mitigate potential risks and ensure a safer trading journey.
Q: Is LegacyFX regulated?
A: Yes, LegacyFX is regulated by the National Bank of the Republic of Belarus and holds license number 193180778.
Q: What trading instruments are available on LegacyFX?
A: LegacyFX offers a diverse range of trading instruments, including currencies, stocks, indices, commodities, and cryptocurrencies.
Q: How can I contact LegacyFX's customer support?
A: You can contact LegacyFX's customer support via email at info@legacyfx.by or by phone at +375 291788410.
Trading online carries inherent risks, and there's a possibility of losing your entire investment capital. It's crucial to acknowledge these risks and understand that the information presented in this review may not always be up-to-date due to changes in the company's services and policies. Therefore, readers are encouraged to verify the information directly with the company before making any decisions. Ultimately, it's the responsibility of the reader to use the information provided in this review wisely and make informed decisions.
AM Markets Review Summary | |
Founded | 2019-10-26 |
Registered Country/Region | Belarus |
Regulation | NBRB |
Market Instruments | Forex/Precious Metals/Energy/Indices/Digital Currencies |
Demo Account | ✅ |
Leverage | Up to 1:500 |
Spread | 0.1 |
Trading Platform | MT4(Windows and Mobile) |
Min Deposit | $100 |
Customer Support | Live chat |
Email:support@ammarkets.com | |
Social Media: Twitter, Facebook, Instagram, and Linkedin |
AM Markets is a broker offering many market instruments: Forex/Precious Metals/Energy/Indices/Digital Currencies. AM Markets also provides spreads as low as 0.1, 0 commission, leverage up to 1:500, and 24/5 customer support.
Pros | Cons |
Regulated | No Islamic account |
ECN/Demo account types available | Hidden withdrawal risks |
Commission free | |
24/5 customer support | |
Various products: forex/index/precious metals, etc. |
AM Markets are regulated by NBRB, which is not an authoritative regulatory agency in the public mind. The license number is 193583860.
Traders can trade multiple assets because of the rich market instruments that AM Markets provides, including Forex, Precious Metals, Energy, Indices, and Digital Currencies.
Tradable Instruments | Supported |
Forex | ✔ |
Precious Metals | ✔ |
Digital Currencies | ✔ |
Indices | ✔ |
Energy | ✔ |
AM Markets offers traders various account types that choose at random. There are three real account types and a demo account: STD, STP, and ECN.
Regarding real account information, STD is suitable for traders who prefer fixed spreads. Such traders are relatively cautious in investing. STP has the characteristics of floating spreads and is favored by experienced traders looking for greater opportunities. Besides, ECNs low spreads often attract traders.
Account Type | STD | STP | ECN |
Maximum Leverage | 1:500 | 1:500 | 1:500 |
Minimum Deposit | $100 | $100 | $100 |
Minimum Spread | 0.1 | 0.1 | 0.1 |
According to the information released by GlcWikiFX about AM Markets, the lowest spread of AM Markets is 0.1 pips. In addition to this, traders enjoy no commission, which will reduce traders trading costs.
AM Markets' leverage is as high as 1:500, which has relatively large opportunities accompanied by a huge risk of loss.
AM Markets supports the MT4 trading platform, which is welcomed by traders for its stable, user-friendly interface and advanced charting capabilities.
Trading Platform | Supported | Available Devices |
MT4 | ✔ | Windows and Mobile |
The minimum deposit of AM Markets is $100, but the withdrawal information is not stated.
AM Markets customer support can be reached 24/5 through online, chat, and email, as well as social media platforms including Twitter, Facebook, Instagram, and Linkedin.
Contact Options | Details |
support@ammarkets.com | |
Online Chat | ✔ |
Social Media | Twitter, Facebook, Instagram, and Linkedin |
Supported Language | English |
Website Language | English |
Physical Address | QUEENS QUAY WEST TORONTO, ON, CANADA |
AM Markets offers a variety of trading account types, including STD, STP, and ECN. It offers spreads up to 0.1 pips and 0 commission. However, traders do not know how to withdraw money from AM Markets, which may cause problems with the safety of traders' funds. In addition, AM Markets are not regulated by authoritative institutions and will carry certain risks.
Are AM Markets safe?
Yes, legally regulated.
What account types does AM Markets provide?
STD, STP, and ECN. If traders do not want to invest real amounts, they can also choose a demo account.
How to withdraw money at AM Markets?
AM Markets does not have withdrawal information. To guarantee the safety of funds, traders need to evaluate platform security.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive legacyfx and am-markets are, we first considered common fees for standard accounts. On legacyfx, the average spread for the EUR/USD currency pair is -- pips, while on am-markets the spread is 0.1.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
legacyfx is regulated by NBRB. am-markets is regulated by NBRB.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
legacyfx provides trading platform including VIP,PREMIUM,PLATINUM,GOLD,SILVER,BRONZE,STANDARD and trading variety including --. am-markets provides trading platform including STD,STP,ECN and trading variety including Forex/precious metals/energy/indices/digital currencies.