Exness Review
LegacyFX Demo Account
Overall, LegacyFX does offer a demo account. 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.
- Lesche Duvenage
Jump to:
Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.1/5
Min Deposit
USD 500 / 6851 BWP
Regulators
CySEC, MiFID, VFSC, BaFin, FCA, NBRB
Trading Desk
MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
LegacyFX Demo Account – 5 key points quick overview:
How to set up a LegacyFX Demo Account – Step by Step
👉 To register for, and set up a demo account with Legacy FX, traders must visit the website and follow the simple steps.
👉 Step 1 – Open Your Account
➡️ Navigate to the LegacyFX homepage
➡️ Click on the demo account button on the middle left of the page
👉 Step 2 – Fill out the form
➡️ Complete the simple online registration form. Provide your full name, email address, and phone number, and create a password for your demo account
➡️ Read and Continue
👉 A demo account is also referred to as a practice account because it provides traders with the ability and freedom to explore a broker’s offering without running the risk of losing money, due to the provision of virtual money with which to ‘trade’.
LegacyFX Demo Account Features
👉 Botswanan traders access various services via LegacyFX’s demo account on MetaTrader 5. In addition to being useful for beginners, the practice account can be used by experienced traders to evaluate their strategies.
👉 LegacyFX provides demo accounts so that you can practice trading with virtual money and test the various services and platforms without putting your real money at risk.
👉 This technique may help determine if a broker meets your requirements and gains your trust before committing to a long-term financial relationship.
LegacyFX Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| Botswanans can expect commission-free trades when they deal with LegacyFX | LegacyFX does not currently offer BWP as a base currency, resulting in currency conversion fees |
| LegacyFX has Tier 1 and 2 regulations, making it a trustworthy option | LegacyFX has a limited range of financial instruments |
| Gold, Silver, and Platinum accounts are not subject to overnight fees | Inactivity fees are applied to all dormant accounts |
| Beginners have access to a range of comprehensive educational materials | Botswanans cannot trade individual shares, only CFDs |
| Botswanans can choose an account level according to their level of trading experience | |
| LegacyFX offers Trading Central and a range of other useful trading tools | |
| Negative balance protection is applied to retail accounts and investor protection is given to eligible clients | |
| MetaTrader 5 is available across different devices |
Verdict on LegacyFX
👉 Overall, LegacyFX is very competitive in terms of its trading fees and spreads.
FAQ
Who can register a LegacyFX demo account?
Anyone can register a demo account with LegacyFX regardless of their trading style, experience, or objectives.
Is LegacyFX good for beginner traders in Botswanans?
LegacyFX is a suitable broker for beginners based on providing educational material and an unlimited demo account.
How can I top up my LegacyFX demo account?
You can reset the virtual balance anytime in your client portal and the account’s settings.
On which trading platform can I trade with LegacyFX?
You can only trade using MetaTrader 5 on mobile, desktop, or web.
Is the LegacyFX demo account risk-free?
The LegacyFX demo account is without risk and will not use your capital to perform trading activities in mimicked live markets.
