Frequently asked questions about Forex

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The accounts:

How can I open a trading account?

You are allowed to open an account if you are 18 years of age or older or have a bank account.

How long does it take for me to create a trading account?

The online trading account is created immediately. As soon as you register your details, you will receive an email with your username and password and can then start trading.

What documents do I need to provide to open a trading account and why?

In order to open a new trading account, you will need to submit:

A copy of a valid ID (e.g. driver’s license or passport(

Proof of residence – a copy of your water or electricity bill with your full name and address,

And if you are using a credit card to deposit or withdraw from your account, a copy of the card should be sent with the last 4 digits on the front and the first 4 digits on the back clearly visible. These details can be emailed to your account manager or uploaded through the site’s member login page (on your desktop or mobile device).

What types of accounts does Legacy FX offer?

Legacy FX offers five types of online trading accounts and demo accounts. It includes the standard silver account for beginners and new traders, the gold account for experienced forex traders, the ECN account for advanced traders and the premium account for experienced traders. The $ 10,000 demo account offers full access to all trading platforms (web, computer and mobile devices) under real market conditions and finally the Islamic account which does not include any commission under Islamic law.

Can I create multiple trading accounts?

Yes sir. You can create a real account and a demo account. You can also easily switch between accounts by selecting the account on the tab.

Do you accept dealers from the USA?

Legacy FX is regulated by the Cyprus Stock Exchange and Financial Markets Commission. It thus complies with all European regulations for financial market transactions. Therefore, all requests from the US, Yemen, North Korea and Iran are denied.

Are demo trading accounts limited?

Yes sir. The demo account is limited to one month.  Please contact Legacy FX for more information.

Does the demo account include a payment?

No. The demo account is completely free and does not include any deposits, fees or commissions

Do you offer Islamic trading accounts?

Legacy FX offers a type of account based on Islamic law that enables its Muslim clients to freely trade in the financial markets without any problem. These accounts are kept in all banking matters according to the provisions and principles of Islamic Sharia, for example without interest or usury. Islamic account holders enjoy all of the services available in all accounts, including a personal account manager, full support service, and the provision of daily trading recommendations, market analysis and personal training. Islamic account holders also receive special offers and other benefits. Islamic account procedures are based on a thorough and careful study by specialists of the provisions of Islamic Sharia law in order to provide our clients with a profitable and legitimate investment experience. Legacy FX does not charge any fees, commissions, or deal extensions for Islamic accounts. As with regulated accounts, buy and sell trades are performed instantly in the market and all trades are closed and then reopened before 5:00 p.m. EST to avoid interest on swap transactions. Legacy FX encourages its clients to consult their trusted religious experts to ensure the adequacy of their accounts and their religious respect.

How can I create an Islamic account or convert my account to an Islamic account?

If you create an account from an Islamic country, your account will automatically be registered as an Islamic account. If you would like to convert the account to a regular account, please contact your account manager and he will change your account.

Platforms:

Do you offer forex and CFD training? And private lessons? And instructional videos?

Legacy FX offers one of the most advanced trading academies in forex trading. It also features articles, e-books, and videos for all levels of trad ern – from the beginner to the expert interested in expanding their understanding of the forex market and financial markets in general. In addition, our webinars provide the trader with trading experience and information, and our team of account managers are always ready to help you with all aspects of trading, from the simplest to the most difficult.

What is Forex Trading?

Forex is the trading of foreign currencies known as Forex, FX and Spot FX trading and involves buying one currency and selling another and is the largest financial market in the world. The foreign exchange market is 24 hours a day , Operates 5 days a week and has an estimated liquidity of more than 4 trillion US dollars in daily trading – more than the total volume of global exchange trading per day.

What’s the difference between forex and traditional stocks or mutual fund trading?

Forex trading and conventional stock trading are two different types of trading. When trading currencies, the goal of most traders is to anticipate short-term movements in exchange rates. Many foreign exchange transactions are conducted by the type of trade, traders buy and sell currencies on the same day on a daily basis. On the other hand, trading stocks and mutual funds is a medium to long-term trading method, and transactions can take several years.

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