LegacyFX — Forex Broker Rating and Review 2020

LegacyFXhttps://www.legacyfx.eu/
Status
Regulation CySEC, BaFin, FCA
Trading software MetaTrader5
Headquartered 47 Ioanni Kondylaki Street, Q Tower, CY 6042, Larnaca, Cyprus

LegacyFX has been providing brokerage services since 2017. The MiFID-compliant broker is regulated by CySEC and the National Bank of the Republic of Belarus. Originally founded in 2012, LegacyFX rebranded and relaunched its services under new management in 2017. Presently, LegacyFX is owned and operated by “A.N. All New Investments Ltd”, a financial investment firm, based in Larnaca, Cyprus. The brand provides currency pairs, metals, commodities, stocks and indices for trading on its platform across multiple devices.

The company provides its clients with a competitive trading conditions; no overnight fees, negative balance protection and funds segregation. LegacyFX states on its website: “We execute each order you place with us in Financial Instruments provided us by always being your counterparty; we act as a principal and not as an agent on your behalf”. This describes the brokerage model of LegacyFX as that of a dealing desk/market maker, with all client orders fulfilled in-house.


Some of LegacyFX’s most notable features:

  • The broker is authorized and regulated by CySEC.
  • Trade over 200 financial instruments using the MetaTrader5 platforms.
  • “LegacyFX Academy” has over 80 video lessons for training of beginner traders.
  • Multiple payment options for deposit and withdrawals.

LegacyFX trading information

WWW
Address 47 Ioanni Kondylaki Street, Q Tower, CY 6042, Larnaca, Cyprus
Headquarters Larnaca
Free phone +35725030673
24 hour support
Mobile trading
Demo account
Swaps
24 hour trading
Digits after the dot in quotes 2
Minimum position size 0.1
Pip spread on majors
Spread Type variable, fixed
Leverage 30
STP, $
ECN, $
Standard account, $ 5000
Micro account, $ 500
Popular payment methods E-wallets (Neteller, Skrill and more), wire transfer, Credit
Account currencies UDS, EUR, GBP
Available assets Forex, CFDs on Indices, Commodities, Metals, Cryptocurrencies and Stocks
Languages English, Spanish, Italian, German
Platforms MetaTrader5
Broker type STP
Regulation CySEC, BaFin, FCA
Foundation 2017

Stay away! Go invest with a reputable brokerage, not Legacy Fx. They will sell very nice and competent in the beginning but their goal is to bring your account to $0, and they will. They will take your hard earned money and run!

Scammed Investor   3 April, 2020  

Please be well advised about LegacyFX. This is 100% a scam. Stay clear away. They will drive your account to zero in no time and disappear. You will lose all of your money. These people should be behind bars for life.

guest   30 March, 2020  

i did invest 250 dollars. but afterwards i didnt get any signals, the broker named *** suddenly blocked me on whatsapp, i have made a withdraw, and struggling with them for months. don't invest in this platform. you will never see your money.

bradley   26 March, 2020  

I started with Legacyfx at the beginning of 2020, excited by the possibility of trading with someone else's seemingly successful signals. (I am an experienced trader but had been struggling and saw this as a good option, yes I know, if it's too good to be true). I am not claiming that they are a scam or fraudulent because I simply do not know that and have no evidence for it. However, in spite of the obvious time and effort they commtted to me explaining how things work and presenting a very attractive trading plan (if I recall it would require just 6 weeks to double my account), I can tell you that by using their signals mostly exactly as they were provided my account lost 62% in about 6 weeks. That loss of 62% is entirely based on their signals; I have removed my own trades from that calculation. I also found that as soon as I started asking questions they seemed to get offended and I was given all sorts of reasons why I should continue because we can "repair the account easily". I was often encouraged to add to my capital to make up for the lost amounts in order to make the trading more viable. When I said that I wanted to contain my risk it was explained that I needed to trade larger lot sizes in order to be successful. Go pull the other one. There was, in fact, constant advice to be brave and not afraid and to trade bigger lot sizes. You can draw your own conclusions.

Alistair   24 February, 2020  

Did anyone have problem with withdrawals?

Otee   3 March, 2020

Hello, my name is Khaled Zidan and i have recently joined to Leagcyfx and my account manager is Mr. Hani who i would like to thank her for his support taking me from 0 knowledge till this level a the past 6 month so tanks a lot and happy to use the trading platform, market reviews and trading education.

khaled zedan   16 January, 2020  

Mario the super cheater, in the beginning he will make so much promises but as soon as you deposit the money he changes like a chameleons. They will convince you by telling so much lies. My account was closed two times before i joined them. Mario the cheater convinced me that my account will never closed by following their strategies. I started by depositing 200 dollars and had to deposit 300 dollars after a week to save my account. Its not over here, I had to deposit another 700 dollars and finally my account get closed. They claim their signal are 80% accurate and are profitable but its opposite and actually 20% signals are true. They are always late in sending you the signals. I am not the only one who is affected from their services there are so many but they dont know where to complaint against them.

Imran Riasat   25 December, 2019  

I agree with Henry, after my spouse deposited an amount of $500, they did a disappearing act on him. Deleted him from the watsapp group, not replying to his mails, no more signals and avoiding is phone calls. We now wants our money back after this act, and we will by any means recover those funds. we are still waiting on the response from the a consultant Mohammed in compliance dept.

Mrs upset   7 November, 2019  

Please don't! You will burn your money. They will start by sending you WhatsApp signals. then request you register on their website. Once you register and transfer money in trouble. The so called Account manager will care no less, asking for more funding. If you don't, then you in trouble. Your money stuck. So Please so not get yourself in troubles.

Henry   20 October, 2019  

Maybe you did not deposit up to the minimum amount to activate the account, otherwise its working well with me here and their instructor works well for me

Abdur-Rasheed   30 October, 2019
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