#IS MAC OF ALL TRADES LEGIT LICENSE#

The spreads on all assets, and the commissions for equity CFDs, are very high, making LegacyFX an expensive broker for scalpers and short-term traders unless they have a minimum of $25,000 to deposit. When it comes to trading fees, things get a bit complicated at LegacyFX. The messenger app WhatsApp shows a UK-based landline, available via the WhatsApp business app. The company's listed phone number is in Switzerland.

The contact information for LegacyFX is a testament to the broker's internationality. Traders must also submit their Tax Payer Identification Number (TIN), which other offshore brokers do not require. Traders must also sign a Transaction Authorization / Declaration of Deposit (DOD) Form, countering the AML violation. LegacyFX requires proof of payment for deposits made via credit/debit card and allows third parties to make such deposits, which is a divergence from accepted AML stipulations. It should be said, however, that many of today's top brokers don't provide these assurances, but it is a nice-to-have for brokers that offer it. Another option would be a third-party insurance policy, which LegacyFX does not provide. Regrettably, there is no investor compensation fund, for example, via the Hong-Kong-based Financial Commission, the primary authority for brokers regulated in smaller jurisdictions. LegacyFX has a clean regulatory track record.Р В РІР‚СњР вЂ™Р’В¬lient deposits remain segregated from corporate funds at LegacyFX, and traders get negative balance protection, which I believe is an absolute necessity for leveraged trading. LegacyFX presents clients with one regulated entity.

#IS MAC OF ALL TRADES LEGIT LICENSE#

I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. Trading with a regulated broker will limit the potential for fraud and malpractice.

This makes LegacyFX more expensive to get started with, but the lack of swap rates makes it a broker worth considering for traders who can afford the required minimum deposit. While it remains within a reasonable range, traders must deposit $3,000 for access to stock trading. I appreciate that LegacyFX offers traders the very useful Autochartist plugin, though a minimum requirement of $1,000 is necessary (still, some brokers charge an even higher minimum). LegacyFX Overview - Swap-free trading from the MT5 trading platform Р РЋР вЂљР РЋРЎСџР Р†Р вЂљРІР‚СњР РЋРІР‚СњР В РЎвЂ”Р РЋРІР‚ВР В Р РЏ Headquarter Vanuatu Р В Р вЂ Р РЋРІвЂћСћР Р†Р вЂљРІР‚СљР В РЎвЂ”Р РЋРІР‚ВР В Р РЏ Regulations VFSC Р РЋР вЂљР РЋРЎСџР Р†Р вЂљРІвЂћСћР вЂ™Р’В° Execution Type Market Maker Р РЋР вЂљР РЋРЎСџР Р†Р вЂљРІвЂћСћР вЂ™Р’В° Minimum Deposit $500 Р РЋР вЂљР РЋРЎСџР Р†Р вЂљРІвЂћСћР вЂ™Р’В° Maximum Leverage 1:200 Р РЋР вЂљР РЋРЎСџР Р†Р вЂљРЎС™Р В РІР‚В° Type of platform MetaTrader 5 Р РЋР вЂљР РЋРЎСџР Р†Р вЂљРІР‚СњР РЋРІР‚СњР В РЎвЂ”Р РЋРІР‚ВР В Р РЏ Established 2012 Not all account types have access to core features

Is mac of all trades legit