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General Information
Broker Name: Legal Trader
Broker Type: Forex
Operating since year: 2020
Regulation: N/A
Broker status: Active
Customer Service
Phone: +447868718040
Email: [email protected]
Languages: English
Availability: 24/5
Trading
The Trading platforms: MetaTrader4, Proprietary
Trading platform Time zone: EET
Demo account: Yes
Mobile trading: Yes
Web-based trading: Yes
Bonuses: Yes
Other trading instruments: Yes
Account
Minimum deposit ($): $2500
Maximal leverage: 1:400
Spread: As low as 1.1 pips
Scalping allowed: Yes

REVIEW CONTENT

  • GENERAL INFORMATION
  • FUNDS TRADING AND SECURITY
  • THE TRADING ACCOUNTS
  • TRADING CONDITIONS
  • TRADING PLATFORM
  • LEGAL TRADER’S TRADING PRODUCTS
  • CUSTOMER SERVICE
  • CONCLUSION

Legal Trader Review 2021 – Is it a good broker?

Legal Trader Review 2021

General Information

Legal Trader is a new luxury brokerage aiming to attract the attention of serious investors. It does that by providing a sophisticated trading experience, albeit with a significant initial investment. The broker’s target audience seems to be people who know the ropes or simply those that put quality first. If you’re tired of smaller brokers pressuring you for a small initial investment and then scooping, this might be the solution. Our Legal Trader review will help you determine if it’s the broker that fits your specific needs.

As soon as you enter Legal Trader’s website, it becomes apparent that the broker takes itself seriously. It’s meticulously crafted to present a professional atmosphere while maintaining full functionality. Looks aren’t a primary concern when choosing a broker, but good visual design indicates an attention to detail. Still, we won’t dwell on them any longer, as the website’s technical side is far more important.

Since it runs smoothly, it creates a frustration-free experience where you can inspect the broker quickly. Further aiding that is the website’s excellent layout, where the sections are neat enough to be intuitive but not overly simple. Because of that, all the info you need is a few clicks away, without any clutter or information overload. You won’t need to click through many pages to find basic info, which is sadly an upgrade over other brokers.

If you’ve read this part of our Legal Trader review, it won’t surprise you that it left a powerful first impression. We’re glad to say that it keeps the same degree of excellence throughout, as we’ll explain later. For now, let’s look at some of the broker’s vital features:

Discover the unique innovative platform

·       Clarity

Although clarity shouldn’t be considered an advantage, the poor state most brokers are in makes it so. Even most valid brokers who don’t try to hide things from users often fail to make their service clear enough. That’s why Legal Trader’s setup is quite refreshing to see, giving users all the info they need before signing up. That means there are no hidden charges, the accounts are abundantly clear, and the asset index is quite detailed. Tying everything together, Legal Trader’s website presents the information in an easily digestible manner.

·        Luxury

As we mentioned near the beginning of our Legal Trader broker review, it is aimed at serious traders. That means it has luxury features up right from the start, making the trading process more convenient. Some of the features even assist you in trading more successfully, such as the account manager and welcome bonus.

 

 

Funds Trading and Security

Funds Trading and security: Why traders choose us?

Safety always comes first with online brokers, and legaltrader.com is no different. Since you often invest significant sums of money with brokers, you should expect them to keep it safe. Not only that, but the personal info you hand over to brokers can cause massive issues if it gets leaked. That’s why brokers need a solid security structure to go alongside their trading experience.

As we said earlier in our Legal Trader review, it maintains a consistent degree of excellence throughout its service. We wouldn’t make such a bold statement if its security weren’t up to par. That starts from necessities, such as encryption on its website and verification for accounts. Such basic measures might seem simple, but they tremendously improve a broker’s standing. Hackers like to target low-hanging fruit, so even elementary protection goes a long way.

Beyond that, the broker puts the security of its users before anything else. We sifted through Legal Trader’s legal documents and found that everything was in perfect order. In fact, there were no malicious clauses that would stain the broker’s integrity. The broker’s clean slate is in line with its seriousness and quality of its overall experience.

Altogether, we’re confident in saying that the broker does more than enough to protect its users. All the information you put into legaltrader.com will remain entirely safe, be it your personal or financial data. As such, the broker earned our stamp of verification, and we can move forward with our Legal Trader review.

 

Legal Trader Trading Accounts

Account typing is another thing that largely determines the overall experience a broker presents. Legal Trader started off well by providing a demo account. That’s important for a whole host of reasons, but there are two that stand out in our eyes.

First, it’s the best way to test out a broker’s service. Although the trading experience isn’t entirely authentic, the differences are minuscule in most cases. As such, it lets you bypass some of the hefty reading you need to do about most brokers. Second, demo accounts are the best way for newer traders to learn how to trade. Practical experience is a must in the finance world, and a demo allows you to get that without losing money.

As for the live accounts, they follow a tier-based structure that depends on investments. The accounts themselves don’t have a maintenance cost, meaning that they’re essentially free. You’ll be able to trade with all the money you invest, so there’s no way you can choose the wrong option.

There are five live versions starting at a $2,500 minimum deposit. Each account holds advantages over the previous ones, although the welcome bonus is always available. The broker also provides Islamic accounts for traders that employ them. Here are some of the account features you can expect to see at Legal Trader:

Legal Trader Trading Accounts types

Student

  • Minimum Deposit: $2,500
  • Free Withdrawals: 1
  • Analyst Views: /
  • Economic Insight: /
  • Welcome Bonus: $50
  • Daily Analysis Video: 1
  • Account Manager: 1 Time
  • EURUSD Spread: 2.8 Pips

Bronze

  • Minimum Deposit: $20,000
  • Free Withdrawals: 2
  • Analyst Views: /
  • Economic Insight: Yes
  • Welcome Bonus: 5%
  • Daily Analysis Video: 2
  • Account Manager: Always
  • EURUSD Spread: 2.5 Pips

Silver

  • Minimum Deposit: $100,000
  • Free Withdrawals: 3
  • Analyst Views: 1
  • Economic Insight: Yes
  • Welcome Bonus: 10%
  • Daily Analysis Video: 3
  • Account Manager: Always
  • EURUSD Spread: 1.9 Pips

Gold

  • Minimum Deposit: $250,000
  • Free Withdrawals: 5
  • Analyst Views: 2
  • Economic Insight: Yes
  • Welcome Bonus: 20%
  • Daily Analysis Video: 5
  • Account Manager: Always
  • EURUSD Spread: 1.4 Pips

VIP

  • Minimum Deposit: $500,000
  • Free Withdrawals: Unlimited
  • Analyst Views: Unlimited
  • Economic Insight: Yes
  • Welcome Bonus: 50%
  • Daily Analysis Video: Unlimited
  • Account Manager: Always
  • EURUSD Spread: 1.1 Pips

 

Trading Conditions at Legal Trader

As you could’ve seen from the previous section of our Legal Trader Review, its trading conditions are consistently powerful. All the account types have a good cost-value ratio, while the VIP version truly uncaps the service. We can see that the broker values loyalty over everything else, with customer retention as a primary goal. The spreads are low, and the fee structure is transparent and can be avoided altogether with planned withdrawals. On top of that, the leverage is quite high, sitting at 1:400 for most currency pairs, for example.

The excellent analysis and education enhance the conditions and boost it further. As we already went over those, we’ll only briefly mention them here, with the former aiding beginners and the latter veterans. Next, the asset variety is nothing short of fantastic, and the detailed asset index is a definite plus. Lastly, the platform is top-notch, as the broker went for a standard choice in MT4.

It’s apparent that the broker knows what it’s doing with its trading experience. All the directly related features are nothing short of excellent, and the secondary ones don’t fall behind. For example, Legal Trader’s clarity and security allow traders to go in well-informed and protected. Lastly, the funding options allow for a simple cash flow that will not disrupt your trading.

 

Trading Platform

Trading platform: MT4

As we mentioned earlier in our Legal Trader broker review, it lets traders use MetaTrader4. The platform is well-known as one of the most intuitive and capable trading terminals on the market. Its interface allows newbies to grasp the basics quickly while it maintains sophisticated trading and analytical features. Also, worth mentioning, the WebTrader and Mobile Trader platforms allow for more trader convenience and mobility.

Legal Trader also has a proprietary desktop platform for users that do not enjoy MT4.

 

Legal Trader’s Trading Products

The asset library on legaltrader.com is quite extensive and, on top of that, well-presented. The broker boasts a considerable variety of trading products over numerous categories. When you open the asset index, you can see detailed information about each trading instrument. That includes its spread, leverage, and even a small chart of its movement and a direct trade button. While the last two might not be as crucial, they demonstrate the broker’s attention to convenience and detail.

Here is a list of the trading product categories you can expect to see as a part of Legal Trader’s service:

  • Forex
  • Commodities
  • Indices
  • Stocks
  • Cryptocurrencies

 

Customer Service

The customer service representatives we spoke to at Legal Trader are quick, kind, and are highly effective with their communication. That leads to an overall pleasant experience when trying to resolve any issues. You can reach the support representatives via email, phone, or live chat at legaltrader.com.

Phone: ‍+447868718040

Email: [email protected]

 

Legal Trader Review: Conclusion

From our Legal Trader review, it should be clear that we’re content with the broker’s service. No matter which accounts you go for, the quality is great for the cost, with the VIP option rightfully standing out. The security is excellent, and the broker promises not to allow any breach to harm its users. The trading conditions match and are powerful across the board, leaving users pleased and content.

Legal Trader lives up to its reputation as an excellent option for those that prioritize quality. If you start using its service, the level of care the broker puts in becomes apparent. You can even use a demo account option to inspect every aspect of the broker’s service. The broker has done more than enough to earn our recommendation, as it’s an excellent choice for both beginners and veterans.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 4.99 (30 reviews)

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