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Do you want to know which is the better broker between LegacyFX and Global Prime ?
In the table below, you can compare the features of LegacyFX , Global Prime side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of legacyfx, global-prime lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
General Information & Regulation
The Brand LegacyFX is an established broker providing a wide range of products and services for traders worldwide since 2017. The company “AN All New Investments BY LLC” (operating under the LegacyFX brand) was registered on 12/14/2018 (UNP 193180778) with Company Registration number 193180778 (Certificate of the National Bank of the Republic of Belarus No. 17). The activities of AN All New Investments BY LLC are regulated by Decree of the President of the Republic of Belarus No. 231 dated June 4, 2015 “On the implementation of activities in the OTC Forex market”.
Market Instruments
Besides a good selection of currency pairs, traders can diversify their portfolio with indices, commodity CFDs, metals, cryptocurrency pairs, and stocks on LegacyFX platform.
Minimum Deposit
There are four account options on offer: Silver, Gold, Platinum, and VIP. The Silver account is available from a minimum deposit of $500, the Gold account for a deposit of $5,000, $25,000 for the Platinum account, and the VIP account is yielded for deposits exceeding $50,000. Swap-free Accounts are available, but swap-free accounts are granted to all traders.
LegacyFX Leverage
Leverage varies from 1:5 to 1:200 depending on the asset traded: Stocks – 1:5, Forex – 1:200, Metals – 1:100
Indices – 1:100, Commodities – 1:100, Cryptocurrencies – 1:5.
Spreads & Commissions
Traders can choose between fixed or variable spread accounts. Variable spreads for major forex pairs such as EUR/USD start at 1.6 pips with the Silver account. Spreads get tighter with the Gold and Platinum accounts, going down to 0.6 pips. Fixed spreads are around 3 pips for EUR/USD with the Silver account. All assets are commission-free, except for stocks where charges range from 0.15% to 0.45% depending on the account.
LegacyFX Trading Platform
LegacyFX offers both the web-based and downloadable desktop versions of MT5, the successor to the popular MT4. The software complements all levels of experience but is a particular favourite among advanced traders.
Deposit & Withdrawal
The minimum deposit for a LegacyFX account is $500, while there is a maximum deposit of $10,000 with credit/debit cards. LegacyFX‘s website clearly states that withdrawals to credit cards can only be in the amount of the deposit from that particular card; the remainder will be wired to the client’s bank account. Clicking on Bank Wire Transfers returns the bank wire information, while all other buttons lead to a log-in screen. Legacy FX covers all deposit and withdrawal fees for transactions via major credit/debit cards, Skrill, Neteller, and bank wires above $200.
Customer Support
Support is available 24/5, and clients can either send an e-mail, call support, or engage with customer support via a live chat feature. The support staff is fluent in English, Arabic, and Russian. LegacyFX is reachable if needed, but most traders should never require this service.
Registered in | Australia |
Regulated by | ASIC, FSA |
Year(s) of establishment | 10-15 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds |
Minimum Initial Deposit | No minimum deposit |
Maximum Leverage | 1:100 |
Minimum spread | Tight spreads |
Trading platform | MT4 and tradingview |
Deposit and withdrawal method | Paypal, mastercard, visa, etcetera |
Customer Service | Email/phone number/address |
Fraud Complaints Exposure | Yes |
General information and regulations of Global Prime
Registered in Australia, Global Prime is an online forex broker that has been providing service for more than a decade.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds .....Global Prime allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Global Prime.
Spreads and commissions for trading with Global Prime
In Global Prime, the spreads are shown in a separate page and the commissions are 7 USD per lot. We can see that the minimum spreads for major forex pairs are 0.0 pips.
Account Types for Global Prime
Demo Account: Global Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Global Prime only provides one type of ECN account, the commission is 7 USD per lot, no minimum deposit and spreads are tight.
Trading platforms offered by Global Prime
When it comes to trading platforms, Global Prime provides MT4 and Tradingview, both are among the most popular platforms in the world. The clients may choose the one they prefer freely.
Leverage offered by Global Prime
The maximum leverage offered by Global Prime is only 1:30 or 1:100, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.
Deposit and withdrawal methods and fees
In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.
Educational resources
A series of educational resources is available at Global Prime, such as autochartist alerts, economic calendar, market opportunities, chrome extender, VPS, autotrade, pip calculator, etcetera.
Customer support of Global Prime
Below are the details about the customer service.
Language(s): English, Portuguese
Service Hours: 24/5
Email: support@globalprime.com
Phone Number: +61 (2) 8379 3622
Address: Global Prime PTY Ltd (ABN 74 146 086 017), Suite 504, 35 Grafton Street, Bondi Junction, Australia
Global Prime FX (Company Number 40256), Govant Building, BP 1276, Port Vila, Vanuatu
Social media: Facebook, LinkedIn, YouTube, twitter
Users exposures on WikiFX
On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Frequent asked questions about Global Prime
Is this broker well regulated?
Yes, it is currently effectively regulated by ASIC and FSA.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive legacyfx and global-prime are, we first considered common fees for standard accounts. On legacyfx, the average spread for the EUR/USD currency pair is -- pips, while on global-prime the spread is 0.4.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
legacyfx is regulated by NBRB. global-prime is regulated by ASIC,FSA,VFSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
legacyfx provides trading platform including VIP,PREMIUM,PLATINUM,GOLD,SILVER,BRONZE,STANDARD and trading variety including --. global-prime provides trading platform including Commission Free,Spreads + Commission and trading variety including 100.