Legal FX Trade24 has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Market...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Legal FX Trade24 is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I was about to invest with Legal FX Trade24 but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database
I gave Legal FX Trade24 a fair chance. After for just over a year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Intuitive for beginners|Tax reports included
Cons: Email notifications too frequent|Currency conversion fee exists
My withdrawal request from Legal FX Trade24 has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Helpful community forum|Fast deposits
Cons: Mobile app could be improved|Minor UI glitches occasionally
Where do I even begin with Legal FX Trade24? for nearly two years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Responsive team|Full transparency|Copy trading available|High security standards
Cons: Limited demo account features|No integrated tax optimization
Legal FX Trade24 offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Great customer service|Fast deposits
Cons: Charting tools need more indicators
Legal FX Trade24 has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Comprehensive tools|Copy trading available|Market news feed|High security standards
Cons: Onboarding videos are outdated|Limited demo account features
I closed a profitable position at Legal FX Trade24 and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Automated trading options|Reliable uptime|Competitive fees|Regular updates
Cons: None so far
The mobile app from Legal FX Trade24 is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Fast execution|Reliable uptime|Multi-device support
Cons: Wish they had more educational resources|Limited ETF selection
I referred a friend to Legal FX Trade24 after comparing multiple platforms. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Risk management tools|Instant funding
Cons: Inactivity fee applies after 12 months