Exness Review
LegacyFX Fees and Spreads
LegacyFX spreads start from the average spread of 0.6 pips EUR/USD, and the commission depends on the trading account the trader is using. LegacyFX is considered low-risk, with an overall Trust Score of 75% out of 100.
- Lesche Duvenage
Jump to:
Fees and Spreads Overview
Additional Trading Fees
Broker Fees
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 Fees and Spreads – 6 key points quick overview:
Fees and Spreads
👉 The spread list for LegacyFX starts from 0.6 pips.
👉 LegacyFX determines spreads based on the account tier and the traded financial instrument. Botswanan traders should also be aware that spreads might change based on the market on the day they choose to trade.
👉 Depending on the type of account that traders in Botswana register via LegacyFX, they could expect the following common spreads:
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 48 | • Major – 1:200 • Minor – 1:200 • Exotic – 1:100 |
| ➡️ Stocks | 200+ | 1:100 |
| ➡️ Precious Metals | 7 | 1:20 |
| ➡️ Cryptocurrency | 10 | 1:100 |
| ➡️ ETFs | 13 | 1:5 |
Additional Trading Fees
Commissions
👉 One benefit of LegacyFX is that, as opposed to other instruments, fees are only charged on Stock CFD trades. The accounts that traders use and the overall value of their holdings both impact these competitive factors.
👉 According to their account level, Botswanans can anticipate the following usual costs:
➡️ 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
👉 Botswanan traders who hold open positions after the market has closed may be charged swap or overnight fees. These costs are incurred or refunded based on the trader’s long/short position, the kind of instrument traded, and the transaction volume.
👉 An Islamic/Swap-Free account with LegacyFX is available to all traders, not only those who observe Islam and follow Sharia law.
👉 However, traders should be warned that if suspicious behaviour or misuse is found, LegacyFX will withdraw the account status and subject traders to swap fees.
👉 Traders from Botswana are not permitted to use LegacyFX’s spread betting services. Thus, Botswanans should not be concerned about paying spread betting fees.
Broker Fees
Deposit and Withdrawal Fees
👉 LegacyFX’s clients are not charged fees while making deposits or withdrawals from their accounts. However, the Client Agreement allows the broker to charge fees for both deposits and withdrawals.
Inactivity Fees
👉 According to the client agreement LegacyFX has with its clients, a USD10 charge will be deducted from inactive accounts after ninety days.
Currency Conversion Fees
👉 According to the Client Agreement, LegacyFX levies currency conversion fees, and Botswanan traders are responsible for exchange rates and the risks involved.
👉 Botswanan traders will be charged a currency conversion fee if they deal in a currency other than the approved account base currencies (EUR, GBP, USD). The exchange rates set by LegacyFX determine these fees.
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
What are the average spreads that I can expect from LegacyFX?
The average spreads you can expect from a LegacyFX account start from 0.6 pips on the Premium Account.
What is the minimum deposit when I register an account with LegacyFX?
When registering a trading account with LegacyFX, you must pay 500 USD / 6,500 BWP.
What are the commissions charged by LegacyFX?
You can expect the following commissions when you trade Stock CFDs with LegacyFX:
- 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
Are there any fees charged when I deposit or withdraw funds from a LegacyFX account?
LegacyFX does not currently charge any fees on deposits or withdrawals.
Are there holding fees charged on the LegacyFX Islamic Account?
There are currently no holding or additional fees on the LegacyFX Islamic Account.
