Online Legacy Trades is a CFD broker whose official domain was registered on January 12, 2024. This broker mainly provides investment services in the markets of forex, commodities, indices, stocks, and cryptocurrencies to investors. It does not offer services to countries and regions where it might violate local laws or regulations.
Company Registration and Regulatory Status
According to the information on the official website of Online Legacy Trades (onlinelegacytrade.com), this broker's company entity is registered in the UK and is regulated by the Australian Securities and Investments Commission (ASIC). However, all clients will deal directly with Online Legacy Trades A/S, and all client agreements will be signed with Online Legacy Trades A/S, thus being governed by Danish law. Besides this, the broker has not disclosed detailed registration information of the company entity or its regulation.
Upon investigation, no registration information for a company named "Online Legacy Trades" was found in the UK's Companies House, the Australian Securities and Investments Commission (ASIC), or the Danish Financial Supervisory Authority (Danish FSA).
Therefore, Online Legacy Trades (onlinelegacytrade.com) is essentially a scam broker website with neither a company entity nor any regulation.
Types of Transactions:
Online Legacy Trades offers clients a variety of trading products, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, allowing traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the performance of entire markets or specific sectors without trading individual stocks. By exploring popular indices, diverse trading opportunities can be found and high leverage can enhance potential returns.
- Commodities: Commodity trading covers key resources in global markets, permitting traders to buy and sell various raw materials, including metals, energy, and agricultural products.
- Stocks: Stock trading enables investors to partake in the price fluctuations and dividends based on the performance of public companies without owning the actual stocks.
- Cryptocurrencies: Cryptocurrency trading provides digital currency enthusiasts the opportunity to profit from highly volatile assets.
Account Opening Process
The account opening process for an Online Legacy Trades trading account involves visiting the broker's official website, clicking "Open Account" at the top right of the webpage to enter the registration page, filling out the personal information such as name, phone number, email, and setting a login password, then submitting and verifying the account to complete the registration.
Investment Plans
Online Legacy Trades offers four different types of investment plans: Bronze Plan, Silver Plan, Gold Plan, Platinum Plan.
Bronze Plan:
- Minimum deposit: $500
- Maximum deposit: $999
- Duration: 7 days
Silver Plan:
- Minimum deposit: $1,000
- Maximum deposit: $4,999
- Duration: 14 days
Gold Plan:
- Minimum deposit: $5,000
- Maximum deposit: $9,999
- Duration: 30 days
Platinum Plan:
- Minimum deposit: $10,000
- Maximum deposit: $50,000
- Duration: 60 days
Trading Platform
Online Legacy Trades claims to provide the MT5 trading platform for users, but no information about this broker can be found on MT5.
Deposits and Withdrawals
Online Legacy Trades' official website does not disclose the supported deposit and withdrawal methods.
Conclusion:
Traderknows reminds investors that Online Legacy Trades is a scam broker that entices investors with high returns to deceive them. The website has no corporate entity and no regulation, and its contact method is limited to email. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
