Socrates Legacy Review
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Fast Facts
Contact Info and Support
Traffic information
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About Socrates Legacy
Socrates Legacy (operated by Socrates Legacy Ltd) provides CFD trading via the domain socrateslegacy.com. The website lists a registered office address at “Hamchaku, Mustsamuda, Atonomes Island of Anjouan, Union of Comoros,” along with phone (+1 315 309 0077) and email (support@socrateslegacy.com). The site states it holds an “International Brokerage and Clearing Houses” registration in Comoros with License Number L 34695/SL and notes service restrictions for residents of multiple jurisdictions, including the United States and the United Kingdom. Official site, M.I.S.A. register
According to the broker’s materials, trading is offered on MetaTrader 5 with servers in London, STP/ECN connectivity, and CFDs across forex, metals, oils, and indices. Account types include Philosopher, Stoic, and PAMM: minimum deposits from $100 (Philosopher/Stoic) and $500 (PAMM); maximum leverage 1:500; spreads from 0.0 pips on Stoic; stated commissions per lot per side of $0.0 (Philosopher), $3.5 (Stoic), and $5.0 (PAMM). The site lists micro-lot trading from 0.01, a 30% stop-out, “Trading styles allowed: All,” Islamic (no‑swap) accounts, free swaps with deposits from $1,000, approximately 35 currency pairs, copy trading, PAMM, and “Bank & Crypto” funding support. Official site, Official site
Who it’s for
- Traders who prefer MetaTrader 5 and use EAs or scalping, with the broker indicating MT5 servers in London and “Trading styles allowed: All.”
- Those seeking high‑leverage CFD trading up to 1:500.
- Investors interested in PAMM and copy‑trading features.
- Clients looking for Islamic (swap‑free) account options, subject to the broker’s stated conditions.
Pros and cons
Pros
- MetaTrader 5 platform with STP/ECN connectivity and a stated London server location.
- Three account types, minimum deposit from $100, micro‑lot trading (0.01), and no order‑distance restriction listed.
- Stoic account shows raw spreads from 0.0 pips with a fixed commission schedule; Islamic (no‑swap) option available.
- PAMM and copy‑trading features, and about 35 currency pairs.
Cons
- Services are not offered to residents of many jurisdictions, including the United States and the United Kingdom.
- High maximum leverage (1:500) increases potential losses as well as gains.
- Swap‑free benefits are conditional on a minimum deposit threshold ($1,000 stated on the site).
- Product scope described as CFDs on forex, metals, oils, and indices.
