Overall, LegacyFX is considered low-risk, with an overall Trust Score of 75% out of 100. LegacyFX offers 7 retail investor accounts as well as a demo and Islamic Account. LegacyFX is currently not regulated by the Central Bank of Kenya (CBK).
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.1/5
Min Deposit
–
Regulators
–
Trading Desk
–
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
LegacyFX Review – 22 key points quick overview:
- ✅ LegacyFX Overview
- ✅ LegacyFX At a Glance
- ✅ LegacyFX Regulation and Safety of Funds
- LegacyFX Awards and Recognition
- LegacyFX Account Types and Features
- How to open an Account with LegacyFX in Kenya
- LegacyFX Vs FBS Vs JustForex – Broker Comparison
- LegacyFX Trading Platforms
- Broker Comparison for Range of Markets
- LegacyFX Trading and Non-Trading Fees
- LegacyFX Deposits and Withdrawals
- How to Deposit Funds with LegacyFX
- LegacyFX Fund Withdrawal Process
- LegacyFX Education and Research
- LegacyFX Bonuses and Promotions
- How to open an Affiliate Account with LegacyFX
- LegacyFX Affiliate Program Features
- LegacyFX Customer Support
- LegacyFX Corporate Social Responsibility
- Our Verdict on LegacyFX
- LegacyFX Pros and Cons
- FAQ
LegacyFX Overview
👉 Overall, LegacyFX is considered average risk, with an overall Trust Score of 75 out of 100. LegacyFX is licensed by one Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and zero Tier-3 Regulators (low trust). LegacyFX offers seven retail trading accounts namely a Standard Account, Bronze Account, Silver Account, Gold Account, Platinum Account, Premium Account, and VIP Account.
👉 LegacyFX, situated in Vanuatu, has been in operation since 2017 and has received many honours for its brokerage services. The broker’s trading platform is the popular MetaTrader5 (MT5) software from MetaQuotes, with all the standard MT5 capabilities, including automated trading.
👉 LegacyFX provides access to contracts for difference (CFDs) on spot gold, oil, cryptocurrencies, indices, and equities, in addition to currency trading. LegacyFX provides substantial tools for novice traders and a choice of account types to meet the demands of traders of all skill levels.
👉 LegacyFX offers its customers a choice between retail trading accounts with negative balance protection, in addition to complimentary trading tools like indicators and trading signals.
👉 LegacyFX accepts Kenyan clients and has an average spread from 0.6 pips with 0.15% commission (stocks only). LegacyFX has a maximum leverage ratio up to 1:200 and there is a demo and Islamic account available.
👉 Only the MetaTrader 5 web, mobile, and desktop platforms are supported. LegacyFX is headquartered in Vanuatu and is regulated by the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC) under A.N ALLNEW INVESTMENTS LTD.
LegacyFX Distribution of Traders
👉 LegacyFX currently has the largest market share in these countries:
➡️ South Africa – 7.8%
➡️ United Arab Emirates – 5.9%
➡️ Canada – 5.2%
➡️ United Kingdom – 5.1%
➡️ Israel – 5%
Popularity among traders who choose LegacyFX
👉 Legacy does not have a large market share in Kenya, but the broker (based on its unique offering) is one of the top 60 brokers for Kenyan retail traders.
LegacyFX At a Glance
| 🏛 Headquartered | Vanuatu |
| 🌇 Global Offices | Cyprus, United Kingdom |
| ⚖️ Local Market Regulator in Kenya | Capital Markets Authority (CMA) |
| 💰 Foreign Direct Investment in Kenya | 1.3% of the overall GDP |
| 💶 Foreign Exchange Reserves in Kenya | 8.2 billion USD |
| ✔️ Local office in Nairobi? | No |
| 👥 Governor of SEC in Kenya | None |
| ✔️ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2017 |
| 📞 Kenyan Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | FCA, CySEC |
| 1️⃣ Tier-1 Licenses | • Financial Conduct Authority (FCA) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | None |
| 🪪 License Number | • United Kingdom – 797343 • Cyprus – 344/17 |
| ⚖️ CMA Regulation | None |
| 🌇 Regional Restrictions | United States of America, Israel, Iran, Syria, Afghanistan, Myanmar, North Korea, Somalia, Yemen, Iraq, Sudan, South Sudan, British Columbia, Ontario, Manito |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 7 |
| ✔️ PAMM Accounts | Yes |
| 💧 Liquidity Providers | Unknown |
| ✔️ Affiliate Program | Yes |
| ➡️ Order Execution | Market |
| 📊 Starting spread | 0.6 pips |
| 💵 Minimum Commission per Trade | 0.15% on stocks |
| ✔️ Decimal Pricing | 5th decimal pricing |
| 📞 Margin Call | 80% |
| 🛑 Stop-Out | 30% |
| 💰 Minimum Trade Size | 0.10 lots |
| 💸 Maximum Trade Size | 1,000 lots |
| ✔️ Crypto trading offered? | Yes |
| 💸 Offers a KES Account? | No |
| ✔️ Dedicated Kenyan Account Manager? | No |
| 📈 Maximum Leverage | 1:200 |
| 📊 Leverage Restrictions for Kenya? | No |
| 💵 Minimum Deposit (KES) | 59,900 KES or equivalent to 500 USD |
| ✔️ Kenyan shilling Deposits Allowed? | No |
| 👥 Active Kenyan Trader Stats | 90,000+ |
| 💻 Active Kenyan-based LegacyFX customers | Unknown |
| 🔄 Kenya Daily Forex Turnover | $100 million+ |
| 💳 Deposit and Withdrawal Options | • Credit/Debit Card • Neteller • Skrill • Klarna • iDEAL • Giropay • Perfect Money • Crypto Wallets • Bank Wire Transfer • AVO Payments • EFT Pay • Volt Deposits • PayRedeem • Jeton • GIGADAT |
| 📈 Minimum Withdrawal Time | 3 to 5 working days |
| 📉 Maximum Estimated Withdrawal Time | 3 to 5 working days |
| 💰 Instant Deposits and Instant Withdrawals? | No |
| 💵 Segregated Accounts with Kenyan Banks? | No |
| 💻 Trading Platforms | • MetaTrader 5 |
| 📊 Tradable Assets | • Forex • Stock CFDs • Commodity CFDs • Precious Metal CFDs • Index CFDs • Crypto CFDs • ETFs |
| ✔️ Offers USD/KES currency pair? | No |
| 📊 USD/KES Average Spread | No |
| ✔️ Offers Kenyan Stocks and CFDs | None |
| 🗣 Languages supported on the Website | English, Spanish, German, Russian, Arabic |
| 💬 Customer Support Languages | Multilingual |
| ✔️ Copy Trading Support | No |
| ⏰ Customer Service Hours | 24/5 |
| 🗣 Kenyan-based customer support? | No |
| ✅ Bonuses and Promotions for Kenyans | Yes |
| 📚 Education for Kenyan beginners | Yes |
| 📱 Proprietary trading software | No |
| ✔️ Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✅ Is LegacyFX a safe broker for Kenyans? | Yes |
| 💰 Rating for LegacyFX Kenya | 7/10 |
| ✔️ Trust score for LegacyFX Kenya | 75% |
| 👉 Open Account | 👉 Open Account |
LegacyFX Regulation and Safety of Funds
LegacyFX Regulation in Kenya
👉 The local market regulators in Kenya are as follows:
➡️ Capital Markets Authority (CMA)
👉 While LegacyFX is regulated globally, the broker does not yet have local regulations or licenses in Kenya. However, despite this, LegacyFX is a popular and trustworthy broker that accommodates Kenyan traders.
LegacyFX Global Regulations
👉 LegacyFX is well-regulated by the following entities in the United Kingdom and Cyprus:
➡️ With temporary authorization, the Financial Conduct Authority (FCA) in the UK regulates A.N ALLNEW INVESTMENTS LTD.
➡️ The Cyprus Securities and Exchange Commission (CySEC), which oversees A.N ALLNEW INVESTMENTS LTD (registration number 348194), has granted LegacyFX the required authorization to provide both cross-border services and ancillary services in Cyprus.
LegacyFX Client Fund Security and Safety Features
👉 Regulated companies are subject to strict financial regulations, such as capital adequacy standards.
👉 According to the legislation, LegacyFX must have enough liquid cash on hand to cover any deposits from clients, potential changes in its currency holdings, and existing debt. To the regulator must be sent monthly financial reports.
👉 Every year, an independent auditor performs a comprehensive audit and informs the regulator of any issues. Money from customers is kept by LegacyFX in fiduciary-separated client bank accounts.
👉 If LegacyFX fails, these funds cannot be used to pay creditors since the funds are not recorded on the balance sheet.
👉 LegacyFX also has business and client accounts with reputable EU financial institutions. Additionally, LegacyFX makes its payment suppliers’ information available. These are shown below:
➡️ Barclays Bank PLC has registered Barclaycard as a trademark. The Prudential Regulation Authority and the Financial Conduct Authority both have authority over and regulate Barclays Bank PLC (Financial Services Register number: 122702). Founded in England; registration number 1026167. The registered office is located at 1 Churchill Place, London, E14 5HP.
➡️ Globalcollect – The Dutch Central Bank has granted permission for Globalcollect to operate in the Netherlands (DNB).
➡️ Skrill (Skrill Ltd.) is authorized to issue electronic money by the Financial Conduct Authority under the Electronic Regulations 2011; its UK registration number is 900001 Skrill Ltd.
➡️ Optimal Payments Limited, which offers the NETELLER service, has been permitted by the Financial Conduct Authority to issue electronic money and payment instruments in the UK per the Electronic Money Regulations 2011 (FRN: 900015).
👉 For companies that are permitted to provide financial services, there is a compensation fund called the ICF. ICF may be able to reimburse its consumers if LegacyFX goes out of business or files for bankruptcy. The merits of the claim will determine how much compensation is awarded.
👉 All operational risks are continuously analysed, assessed, and managed by Legacy FX. Senior Management is specifically in charge of the following when managing risks:
➡️ Constantly assess the effectiveness of the procedures, processes, and policies that have been put in place.
➡️ Establish Legacy FX’s risk-bearing capability and strategy.
➡️ Examine the Risk Assessment Report generated by the Risk Management Department and, if necessary, take the appropriate actions to ensure that Legacy FX can always satisfy its capital and financial obligations.
LegacyFX Awards and Recognition
👉 LegacyFX has worked hard to establish a respectable reputation among both its customers and other parties since the company’s inception.
👉 LegacyFX is proud to showcase the several accolades it has earned in appreciation of the different successes and achievements it has accomplished throughout its years in existence. This is due to the enormous efforts of the company’s team as well as the ongoing support it gets from its customer base.
👉 The most recent accolades for LegacyFX include:
➡️ Best Trading Education in the MENA area (2025)
➡️ Most Innovative Forex Broker in Africa (2025)
➡️ Best Trading Signals Provider (2021)
LegacyFX Account Types and Features
👉 LegacyFX’s Account Types for Kenyan customers are classified based on the minimum deposit that traders may make. Traders who wish to upgrade or downgrade their accounts can contact LegacyFX and request the change.
👉 LegacyFX account types may alter in terms of name, deposit requirements, specifications, and overall trading conditions. According to LegacyFX, any account may be classified as an Islamic Account, which means that it is free of interest and swaps.
👉 This applies not just to Sharia-compliant Muslim traders, but all traders looking for swap-free trading circumstances. However, if any misuse or suspicious conduct is detected, LegacyFX has the right to terminate or change the account status without notice.
👉 Kenyan traders have the following account options:
➡️ Standard Account
➡️ Bronze Account
➡️ Silver Account
➡️ Gold Account
➡️ Platinum Account
➡️ Premium Account
➡️ VIP Account
| 💻 Live Account | 💵 Minimum Dep. | 📊 Average Spread | 💰 Commissions | 📊 Average Trading Cost |
| Standard | 59,900 KES / 500 USD | 1.6 | 0.45% | 16 USD |
| Bronze | 119,000 KES / 1,000 USD | 1.6 | 0.45% | 16 USD |
| Silver | 359,000 KES / 3,000 USD | 1.6 | 0.45% | 16 USD |
| Gold | 599,000 KES / 5,000 USD | 1 | 0.30% | 10 USD |
| Platinum | 1,199,000 KES / 10,000 USD | 1 | 0.30% | 10 USD |
| Premium | 2,999,000 KES / 25,000 USD | 0.6 | 0.15% | 6 USD |
| VIP | 5,999,000 KES / 50,000 USD | Custom | Custom | Custom |
LegacyFX Live Trading Account Details
Standard Account
👉 The Standard Account is a basic account with the following features:
➡️ Commission-free trading on all instruments except stocks.
➡️ Stock commissions from 0.45%
➡️ A wide range of trading opportunities.
➡️ Access to Live Support.
➡️ Beginner traders get access to a Trading Academy.
➡️ There is the option to convert the account to a Swap-Free Option.
➡️ Access to a Private Channel.
➡️ Traders get tips and updates.
➡️ Traders can trade a range of Commodities.
Bronze Account
👉 The Bronze Account provides the following features in addition to those of the Standard Account:
➡️ Commission-free trading on all instruments except stocks.
➡️ Stock commissions from 0.45%
➡️ A wide range of trading opportunities.
➡️ Access to Live Support.
➡️ Beginner traders get access to a Trading Academy.
➡️ There is the option to convert the account to a Swap-Free Option.
➡️ Access to a Private Channel.
➡️ Traders get tips and updates.
➡️ Traders can trade a range of Commodities.
➡️ Auto-charting tools.
➡️ 3 protected trades.
Silver Account
👉 With the Silver Account, Kenyan traders get the basic features in addition to:
➡️ Commission-free trading on all instruments except stocks.
➡️ Stock commissions from 0.45%
➡️ A wide range of trading opportunities.
➡️ Access to Live Support.
➡️ Beginner traders get access to a Trading Academy.
➡️ There is the option to convert the account to a Swap-Free Option.
➡️ Access to a Private Channel.
➡️ Traders get tips and updates.
➡️ Traders can trade a range of Commodities.
➡️ Auto-charting tools.
➡️ 3 protected trades.
➡️ Access to Trading Psychology.
➡️ The ability to trade Stock CFDs.
➡️ Basic Analysis Features.
➡️ Basic Mentoring is offered by Experts.
Gold Account
👉 The Gold Account provides the following features:
➡️ Commission-free trading on all instruments except stocks.
➡️ Commissions from 0.30% on stocks.
➡️ A wide range of trading opportunities.
➡️ Access to Live Support.
➡️ Beginner traders get access to a Trading Academy.
➡️ There is the option to convert the account to a Swap-Free Option.
➡️ Access to a Private Channel.
➡️ Traders get tips and updates.
➡️ Traders can trade a range of Commodities.
➡️ Auto-charting tools.
➡️ 5 protected trades.
➡️ Access to Trading Psychology.
➡️ The ability to trade Stock CFDs.
➡️ Basic Analysis Features.
➡️ Basic Mentoring is offered by Experts.
➡️ Access to Premium Ideas.
➡️ Access to “Personal Success goal.”
➡️ VIP EU Mastercard.
➡️ Access to a Direct Dealing Desk.
Platinum Account
👉 Based on the following variety of characteristics and advantages, this is one of the greatest and most popular choices for experienced and professional traders:
➡️ Commission-free trading on all instruments except stocks.
➡️ Commissions from 0.30% on stocks.
➡️ A wide range of trading opportunities.
➡️ Access to Live Support.
➡️ Beginner traders get access to a Trading Academy.
➡️ There is the option to convert the account to a Swap-Free Option.
➡️ Access to a Private Channel.
➡️ Traders get tips and updates.
➡️ Traders can trade a range of Commodities.
➡️ Auto-charting tools.
➡️ 7 protected trades.
➡️ Access to Trading Psychology.
➡️ The ability to trade Stock CFDs.
➡️ Basic Analysis Features.
➡️ Mentoring from professionals.
➡️ Access to Premium Ideas.
➡️ Access to “Personal Success goal.”
➡️ VIP EU Mastercard.
➡️ Access to a Direct Dealing Desk.
➡️ Access to a comprehensive trading plan.
➡️ A direct line to the Dealing Room.
Premium Account
👉 The Premium Account has the largest minimum deposit since it provides Kenyan professional traders with the entire package of services, including:
➡️ Commission-free trading on all instruments except stocks.
➡️ Commissions from 0.15% on stocks.
➡️ Access to Live Support.
➡️ Beginner traders get access to a Trading Academy.
➡️ There is the option to convert the account to a Swap-Free Option.
➡️ Access to a Private Channel.
➡️ Traders get tips and updates.
➡️ Traders can trade a range of Commodities.
➡️ Auto-charting tools.
➡️ 7 protected trades.
➡️ Access to Trading Psychology.
➡️ The ability to trade Stock CFDs.
➡️ Basic Analysis Features.
➡️ Access to Premium Ideas.
➡️ Access to “Personal Success goal.”
➡️ VIP EU Mastercard.
➡️ Access to a Direct Dealing Desk.
➡️ Access to a comprehensive trading plan.
➡️ A direct line to the Dealing Room.
➡️ Platinum Trading Opportunities.
➡️ Advanced Mentoring.
VIP Account
👉 The VIP Account does not have a predetermined list of features, allowing traders to tailor this product to their own trading requirements and goals. The VIP Account is only available to professional traders and institutions.
LegacyFX Base Account Currencies
👉 Traders from Kenya who register for a live account with LegacyFX are only given the choice to choose the United States Dollar (USD), the Euro (EUR), or the British Pound (GBP) as the base currency for their account.
👉 According to the Client Agreement, traders will be responsible for currency conversion costs if they make deposits or withdrawals in a currency that is not one of the alternatives listed below.
LegacyFX Demo Account
👉 Demo accounts are made available by LegacyFX, and they allow you to try out the broker’s services and platforms, in addition to practising your trading strategies with fake money, so there is no danger involved.
👉 It could be useful to take this strategy before making a long-term financial commitment to the broker to discover if the broker satisfies your criteria and to increase the amount of confidence you have in them.
LegacyFX Islamic Account
👉 Any of the seven retail accounts provided may be considered as an Islamic or Swap-Free Account per the LegacyFX Client Agreement. Along with Riba, or interest, this account abides with the tenets of Islamic law in terms of banking practices.
👉 The swap-free status will apply to any account that is converted to an Islamic Account, and this status is available to any clients who choose to utilize this account, not only Muslim Kenyan traders.
👉 The traders who request this account should be aware that LegacyFX maintains the right to change the account status from an Islamic Account back to a Standard Account at any given moment, in which case swaps and interest would apply.
How to open an Account with LegacyFX in Kenya
➡️ Visitors to the official website may click on “Open Real Account” on the front page.
➡️ A new page that contains the actual account registration will load.
➡️ Kenyans can fill out the “Personal Account” registration form from here.
➡️ Kenyan traders are asked to fill out the following fields: First Name, Last Name, Email Address, Phone Number, and a User-Selected Password, which must be at least 6 characters long and include both letters and numbers.
➡️ Next, Kenyans must decide which currency will be their base account’s currency from USD, EUR, and GBP.
➡️ Kenyan traders must sign their name in the space given by using their mouse cursor.
➡️ Before choosing whether to receive offers and incentives, traders must input the Captcha code in the space given and accept the Declaration Statement and the Terms and Conditions.
➡️ When finished, traders can click on “Continue” to proceed with the process.
➡️ The trading platform number, account number, and any other relevant information will be delivered to the trader’s email address along with the login credentials.
➡️ After submitting the verification and KYC paperwork, the account will be instantly established, and Kenyan traders may now activate their accounts with LegacyFX.
➡️ Kenyans can finish the verification process by adding other details, such as their birthdate, current address, level of trading experience, and funding source.
➡️ Traders’ dashboards or client portals allow them to submit their identification and residency documents.
LegacyFX Vs FBS Vs JustForex – Broker Comparison
| LegacyFX | FBS | JustForex | |
| ⚖️ Regulation | FCA, CySEC | IFSC, CySEC, FSCA, ASIC | FSA |
| 📱 Trading Platform | • MetaTrader 5 | • MetaTrader 4 • MetaTrader 5 • FBS Trader • CopyTrade | • MetaTrader 5 • MetaTrader 4 • JustForex App |
| 💰 Minimum Deposit | 59,900 KES | 119 KES | 119 KES |
| 📈 Leverage | 1:200 | Up to 1:3000 | Up to 1:3000 |
| 📊 Spread | From 0.6 pips | From 0.0 pips | From 0.0 pips |
| 💰 Commissions | 0.15% on stocks | From $6 | None$3 units per lot/side |
| 💳 Margin Call/Stop-Out | 80%/30% | 40% and 20% | 40%/20% |
| ✴️ Order Execution | Market | Market | Market |
| 💳 No-Deposit Bonus | No | Yes | Yes |
| 📊 Account Types | • Standard Account • Bronze Account • Silver Account • Gold Account • Platinum Account • Premium Account • VIP Account | • Cent Account • Micro Account • Standard Account • Zero Account • ECN Account • Crypto Account | • MetaTrader 4 Standard Cent Account • MetaTrader 4 Standard Account • MetaTrader 4 Pro Account • MetaTrader 4 Raw Spread Account • MetaTrader 5 Standard Account • MetaTrader 5 Pro Account • MetaTrader 5 Raw Spread Account |
| ⚖️ CBN Regulation | No | No | No |
| 💰 NGN Deposits | Yes | Yes | No |
| 📊 Kenyan Shilling Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/7 | 24/5 |
| 📊 Retail Investor Accounts | 7 | 6 | 7 |
| ☪️ Islamic Account | No | Yes | Yes |
LegacyFX Trading Platforms
👉 LegacyFX offers Kenyan Traders a choice between these trading platforms:
➡️ MetaTrader 5
👉 With the help of the reliable and user-friendly MetaTrader 5 (MT5) platform developed by the software company MetaQuotes, LegacyFX gives you simple access to the global market.
👉 Millions of traders utilize the well-known online trading platform MT5, which is noted for its user-friendly interface that makes it possible to execute transactions quickly and in real-time.
👉 To satisfy the needs of every trader, MetaTrader 5 is adaptable. You can easily carry out a thorough analysis of the financial markets using the platform’s built-in charts and technical indicators.
👉 Anyone who wishes to trade manually utilizing strategy templates or use automated trading programs might use LegacyFX’s MT5. MT5 is used on desktop computers, laptop computers, and mobile devices (iOS & Android).
👉 While the mobile application is useful for customers who need to access their account and trade from anywhere in the world with an internet connection, the MT5 WebTrader may work directly in web browsers without the need to download or install any additional software.
👉 It should be noted that a range of functions available on the desktop platform is absent from the web and mobile editions.
LegacyFX Range of Markets
👉 Kenyan Traders can expect the following range of markets from LegacyFX:
➡️ Forex
➡️ Stock CFDs
➡️ Commodity CFDs
➡️ Precious Metal CFDs
➡️ Index CFDs
➡️ Crypto CFDs
➡️ ETFs
Financial Instruments and Leverage offered by LegacyFX
| 🔧 Instrument | 📊 Number of Assets Offered | 📈 Max Leverage Offered |
| Forex | 48 | Major – 1:200 Minor – 1:200 Exotic – 1:100 |
| Stock CFDs | 200+ | 1:100 |
| Commodity CFDs | 10 | 1:20 |
| Precious Metals | 7 | 1:100 |
| Index CFDs | 21 | 1:5 |
| Cryptocurrency CFDs | 10 | 1:5 |
| ETFs | 13 | 1:5 |
Broker Comparison for Range of Markets
| LegacyFX | FBS | JustForex | |
| Forex | Yes | Yes | Yes |
| Precious Metals | Yes | Yes | Yes |
| ETFs | Yes | No | No |
| CFDs | Yes | Yes | Yes |
| Indices | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes |
| Cryptocurrency | Yes | Yes | Yes |
| Options | No | Yes | No |
| Energies | No | Yes | Yes |
| Bonds | No | No | No |
LegacyFX Trading and Non-Trading Fees
Spreads
👉 Depending on the account level and the financial instruments being traded, LegacyFX assesses various spreads.
👉 The following typical spreads are simply a general indication of what Kenyans might anticipate; spreads can also be influenced by the overall market circumstances on the day of trading:
| 🔧 Financial Instrument | 💻 Standard, Bronze, Silver | 💵 Gold, Platinum | 💰 Premium |
| EUR/USD (Major) | 1.6 pips | 1 pip | 0.6 pips |
| EUR/AUD (Minor) | 2.1 pips | 1.5 pips | 1.1 pips |
| USD/ZAR (Exotic) | 168 pips | 142 pips | 122 pips |
| USTECH100 | 1.75 pips | 1.35 pips | 0.75 pips |
| US2000 | 2 pips | 1 pip | 0.75 pips |
| COCOA | 16 pips | 12 pips | 10 pips |
| XAG/USD | 0.067 pips | 0.037 pips | 0.027 pips |
| XAU/USD | 0.63 pips | 0.43 pips | 0.27 pips |
| BTC/USD | 505.03 pips | 485.03 pips | 464 pips |
| EFA (ETF) | 0.03 pips | 0.03 pips | 0.03 pips |
| Stocks (USA) | 0.02 pips | 0.02 pips | 0.02 pips |
Commissions
👉 For all trading accounts excluding stock trading, LegacyFX does not charge any trading commissions on any instruments. Kenyan traders should anticipate the following commission schedules for trading Stock CFDs:
➡️ Standard Account – 0.45%
➡️ Bronze Account – 0.45%
➡️ Silver Account – 0.45%
➡️ Gold Account – 0.30%
➡️ Platinum Account – 0.30%
➡️ Premium Account – 0.15%
➡️ VIP Account – Custom
Overnight Fees, Rollovers, or Swaps
👉 When Kenyan traders continue to maintain a position after the trading day has finished, they are subject to the possibility of incurring or receiving an overnight charge as well as a swap fee.
👉 The trader might be required to pay (or receive) these fees, depending on the size of their position, the instrument they are trading, and whether they entered a long or short position.
Deposit and Withdrawal Fees
👉 LegacyFX does not seem to charge any costs associated with deposits or withdrawals. However, the Client Agreement does allow the broker to charge fees for deposits and withdrawals.
Inactivity Fees
👉 When an account with LegacyFX becomes dormant for 90 days or more, the company will deduct USD 10 from the account balance, as stated in the company’s client agreement.
Currency Conversion Fees
👉 According to the Client Agreement, Kenyan traders have responsibility for exchange rates and associated risks while using LegacyFX’s currency conversion services.
👉 Kenyan traders must pay a currency conversion charge if they choose to do business in a currency other than the EUR, GBP, or USD that are supported as account base currencies. These costs are determined by the current exchange rate offered by LegacyFX.
Overall Rating
- 4.1/5
Min Deposit
–
Regulators
–
Trading Desk
–
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
LegacyFX Deposits and Withdrawals
👉 LegacyFX offers the following deposit and withdrawal methods:
➡️ Credit/Debit Card
➡️ Neteller
➡️ Skrill
➡️ Klarna
➡️ iDEAL
➡️ Giropay
➡️ Perfect Money
➡️ Crypto Wallets
➡️ Bank Wire Transfer
➡️ AVO Payments
➡️ EFT Pay
➡️ Volt Deposits
➡️ PayRedeem
➡️ Jeton
➡️ GIGADAT
Broker Comparison: Deposit and Withdrawals
| 🥇 LegacyFX | 🥈 FBS | 🥉 JustForex | |
| Minimum Withdrawal Time | 3 to 5 working days | 15 to 20 minutes (maximum 48 hours) | Instant |
| Maximum Estimated Withdrawal Time | 3 to 5 working days | Up to 7 days | 10 bank days |
| Instant Deposits and Instant Withdrawals? | No | Instant Deposits | Yes |
Supported Currencies, Maximum Amount per Deposit/Withdrawal, Countries Allowed to use the method
| 💻 Payment Method | 💵 Supported Currencies | 📈 Max Deposit | 📉 Max Withdrawal | 📱 Countries |
| Credit/Debit Card | USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR | 10,000 currency units | 10,000 currency units | International |
| Neteller | USD, GBP, EUR | – | 50,000 USD / GBP / EUR | International |
| Skrill | USD, GBP, EUR | – | 50,000 USD / GBP / EUR | International |
| Klarna | EUR | 2,500 EUR | 5,000 EUR | Germany, Austria, The Netherlands, Switzerland, Italy, Spain, Belgium, Finland, France, Poland |
| iDEAL | EUR | – | – | Netherlands |
| Giropay | USD, EUR | 10,000 USD or EUR | No Limit | Germany |
| Perfect Money | USD, GBP, EUR | 100,000 USD / GBP / EUR | 10,000 USD / GBP / EUR | International |
| Crypto Wallets | BTC, LTC, BCH, XRP | 200,000 | 200,000 | International |
| Bank Wire Transfer | USD, EUR, GBP | – | None | International |
| AVO Payments | ZAR | 500,000 ZAR | 500,000 ZAR | South Africa |
| EFT Pay | ZAR | 180,000 ZAR | 95,000 ZAR | South Africa |
| Volt Deposits | EUR, GBP | – | – | UK and EU |
| PayRedeem | EUR, USD | 500 per voucher | – | EU Countries |
| Jeton | USD, EUR, GBP | Depends on the country | 50,000 USD / EUR / GBP | International |
| GIGADAT | CAD | 3,000 CAD | – | Canada |
How to Deposit Funds with LegacyFX
👉 To deposit funds to an account with LegacyFX, Kenyan Traders can follow these steps:
➡️ Before attempting to deposit money into an account, traders must make sure they have completed the KYC process.
➡️ Traders from Kenya may access their trading accounts using the LegacyFX website.
➡️ From this point on, Kenyan traders may carefully choose their preferred Deposit Method from the offered options.
➡️ After selecting the account that they wish to fund, Kenyan traders can input the deposit amount by clicking the deposit method’s logo.
➡️ After that, traders must enter their password from when they registered for an account as well as the email address linked to it.
➡️ Traders will then be taken to the payment method’s pay gate to finalize the procedure and confirm the deposit.
➡️ Traders must provide the deposit at least 3 to 5 working days to reflect.
LegacyFX Fund Withdrawal Process
👉 Kenyan Traders should be aware that some requirements and criteria must be met to withdraw money from a LegacyFX account. After logging into their LegacyFX account on the website, traders may access their withdrawal choices.
👉 According to the payment options listed below, the following criteria and conditions must be completed to withdraw.
Credit and Debit Card Withdrawals
👉 All withdrawal requests will be addressed via this channel first, regardless of the withdrawal method chosen.
👉 Any withdrawal request that includes both money from the initial deposit and money from the profit will be split into two requests: one for the return of the initial deposit and the other for the return of profits.
👉 Sometimes, the request could be completed as a single request, depending on the requirements of the third-party remitter.
Electronic Gateway Withdrawals (Skrill, Neteller, etc.)
👉 Electronic Gateways and e-Wallets will process deposits to the wallet address from whence they were made.
👉 The profit amount may then be sent via an e-wallet if a third-party remitter does not interpret a credit/debit card withdrawal request as a single transaction (as indicated above) and a withdrawal amount includes both deposited money and surplus profits.
All other methods
👉 When all other options, such as bank wire withdrawals, have been utilized for deposits, either Credit Cards or E-wallets will be utilised.
LegacyFX Education and Research
Education
👉 LegacyFX offers the following Educational Materials:
➡️ Beginners Education
➡️ Advanced Education
➡️ “What is Forex?” Guide
➡️ Glossary
➡️ eBooks
➡️ Videos on-demand
➡️ Intro to Forex
➡️ Intro to Futures
Research and Trading Tool Comparison
| 🥇 LegacyFX | 🥈 FBS | 🥉 JustForex | |
| Economic Calendar | Yes | Yes | Yes |
| VPS | No | Yes | Yes |
| AutoChartist | Yes | No | No |
| Trading View | No | No | No |
| Trading Central | Yes | No | No |
| Market Analysis | Yes | Yes | Yes |
| News Feed | Yes | Yes | Yes |
| Blog | Yes | Yes | Yes |
LegacyFX Bonuses and Promotions
👉 LegacyFX offers Kenyan traders the following bonuses and promotions:
➡️ Loyalty Program
➡️ Refer a friend bonus
➡️ Special Promotions
Overall Rating
- 4.1/5
Min Deposit
–
Regulators
–
Trading Desk
–
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
How to open an Affiliate Account with LegacyFX
👉 To register an Affiliate Account, Kenyan Traders can follow these steps:
➡️ Kenyans can go to LegacyFX’s official website and click on “Promotions” to join up for the affiliate program.
➡️ From this point on, Kenyans can select the “Affiliate Program” link and then, at the bottom of the page, the “Easy Sign Up” banner.
➡️ The website will link traders to a sign-up page where they must fill out all the necessary fields (denoted by an Asterisk).
➡️ Kenyans can submit their application after it is finished and wait for notification of its status.
LegacyFX Affiliate Program Features
👉 Kenyans may easily have access to LegacyFX’s amazingly effective marketing tools via CellXpert, and they can earn more with a personalized plan and a variety of commission structures, including CPA, Revenues Share, and Hybrid deals.
👉 The top CPA Affiliate Partnership Program is offered by LegacyFX. As associate partners, Kenyans will have exclusive access to a broad marketing platform, and they could get significant benefits for referrals.
👉 Affiliates may find here specialized marketing resources designed to raise their potential total revenues. Affiliates could easily examine statistics, track conversions, and manage the success of their campaigns using CellXpert.
👉 Additionally, companies and people from all around the globe may participate in LegacyFX’s CPA partnering programs.
👉 When Kenyans investigate LegacyFX’s possibilities, whether they are trading gurus, social media influencers, marketing specialists, or SEO experts, they may choose the most profitable approach for them.
LegacyFX Customer Support
👉 LegacyFX’s customer support is available around the clock by phone, live chat, and email from Mondays to Fridays. The broker holds the customer’s business in the highest regard and will happily respond to any general, technical, or account-related questions.
| 👥 Customer Support | 📞 LegacyFX Customer Support |
| Operating Hours | 24/5 |
| Support Languages | Multilingual |
| Live Chat | Yes |
| Email Address | Yes |
| Telephonic Support | Yes |
| Local Support in Kenya? | No |
| The overall quality of LegacyFX Support | 3/5 |
LegacyFX Corporate Social Responsibility
👉 The Larnaca and Famagusta Classic Cars Festival in Cyprus is one of the events that LegacyFX is actively engaged in funding. The Christakis Hassapis home in Larnaca, which provides care for individuals with special needs, received all the monies that were raised during the event via the sales of meal vouchers, sponsors’ donations, and drinks and food.
👉 According to a representative for LegacyFX, one of the company’s fundamental goals is to make other people’s lives better. This is attributed to the broker’s conviction that economic success and social responsibility are not mutually exclusive concepts.
Our Verdict on LegacyFX
👉 Despite being a relative newcomer to the online forex brokerage industry, LegacyFX offers similar services to several well-established brokers with longer track records.
👉 LegacyFX offers commission-free (save for stocks) and swap-free trading on over 200+ CFD products spanning Forex, Commodities, Indices, Stocks and Cryptocurrencies.
👉 Based on the variety of teaching resources provided, LegacyFX is ideal for novice traders. The e-books and seminars will introduce you to the fundamentals of trading, and LegacyFX offers several learning opportunities for Kenyan beginners.
LegacyFX Pros and Cons
| ✔️ PROS | ❌ CONS |
| LegacyFX offers commission-free options on most financial instruments | LegacyFX does not offer a KES account and might impose currency conversion fees |
| There are no rollover fees charged on Gold, Silver, or Platinum accounts | There is a limited selection of tradable instruments |
| Kenyans have access to MetaTrader 5 | There is an extremely high minimum deposit requirement |
| There are several comprehensive educational materials offered | Inactivity fees are charged |
| LegacyFX is well-regulated and guarantees client fund security | LegacyFX does not offer real share trading, only share CFDs |
| Kenyans have a choice between different trading accounts that suit their needs | The spreads are extremely wide on some accounts |
| Kenyans can access Trading Central, Trading Signals, and several advanced trading tools | There is only a single trading platform offered |
| There is negative balance protection that is automatically added to retail accounts |
FAQ
Does LegacyFX have Volatility 75 / VIX 75?
No, VIX 75 is not accessible via LegacyFX.
Does LegacyFX have Nasdaq?
Yes, NASDAQ is available as an index CFD at LegacyFX.
What type of broker is LegacyFX?
No, LegacyFX is an ECN and STP broker that does not use a dealing desk.
How can I deposit money into my LegacyFX trading account?
A variety of methods, such as bank wire, electronic portals, and credit/debit cards, are available for deposits. After completing the KYC procedure and logging into your account on the LegacyFX website, you could deposit money.
Can I set up a Cent Account using LegacyFX?
No, Cent Accounts are not available at LegacyFX.
Conclusion
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with LegacyFX?
➡️ What was the determining factor in your decision to engage with LegacyFX?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
➡️ Have you experienced any issues with LegacyFX such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
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