LegacyFX — Forex Broker Rating and Review 2020

LegacyFXLegacyFX website
Status
Regulation VFSC, CySEC, NBRB, BaFin, FCA, FSP
Trading software MetaTrader5
Headquartered Q Tower, 5th floor, Ioanni Kondylaki 47, 6042, Larnaca, Cyprus

Multi-asset trading specialist, LegacyFX, is one of the industry’s most promising brokers. LegacyFX was originally founded in 2012. But, in 2017, the company rebranded and relaunched its services under new management, established itself as a leader in the industry. The MiFID and FCA-compliant broker is regulated by CySEC, VFSC, NBRB, and others. In general, this broker has a clean regulatory record and its transparency is acceptable. When it comes to education, LegacyFX has created a well-equipped and solid service for new traders.

LegacyFX provides traders with MetaTrader5, and its clients can trade over 200 financial instruments using the desktop and mobile platforms. LegacyFX’s rebranding includes a totally retooled new website UI, as well as a freshly supported client area. More specifically, this allows users to view their account in real-time, whilst viewing it next to the trading platform side by side. Noteworthy is the asset selection, where this broker has done an outstanding job of offering a wide range of assets. The availability of swap-free accounts for all traders is unusual and could be interesting for traders worldwide. This broker grants a free trading signals package, and its education center, video library, and Autochartist premium tools are accessible to everyone. LegacyFX charges zero fees on deposits and withdrawals, and a special “safe-mode” promotion.

LegacyFX trading information

WWW
Address Q Tower, 5th floor, Ioanni Kondylaki 47, 6042, Larnaca, Cyprus
Headquarters Larnaca
Free phone +41 315 087455
24 hour support
Partnership programs
Mobile trading
Automated trading
Demo account
24 hour trading
Digits after the dot in quotes 5
Minimum position size 0.1
Pip spread on majors
Spread Type variable, fixed
Maximum Leverage 200
ECN, $
STP, $
Standard account, $ 5000
Mini account, $ 500
Popular payment methods Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer
Account currencies USD, GBP, EUR
Available assets forex, commodities, indices, cryptocurrencies, stocks
Languages English, Arabic, Spanish, German, Russian
Platforms MetaTrader5
Broker type STP
Regulation VFSC, CySEC, NBRB, BaFin, FCA, FSP
Foundation 2012

Mr. D. W. told me they're regulated from cysec, that was the only reason i joined them. Then after time i realised that they have 2 websites .eu regulated by cysec and one .com which is an offshore broker. So they build the reputation as a regulated broker, but they scam theyre clients on .com website. no regulated or licensed broker, will ever call you, to persuade you to delosit or give you signals or push you to open trades. Know that, if a broker is calling you, theyre a 100% scam. After the company started pushing me to open trades and expose my account, more and more, and then ask for more money, i reached the European Regulatory Body, which Mr. D. W. claimed theyre regulated from them (Or Google search: complaints handling policy - LegacyFx). And they said they never worked with LegacyFX. Heres a important letter paragraph from them: The termination of this relationship follows in response to your official complaint letter and subsequent chargebacks placed against the company. Additionally, this ruling derives from the fact that the company does not operate under an EU regulator nor solicits clients in anyway. Therefore, your claims to CYSEC, accusations against the later, and chargeback that the company provided defective and not as described merchandise and services, are not valid and defamatory.

Ajay   22 September, 2020  

A very good broker! i have no complaints and personally I did not have any problems. withdraw is fast and responsive customer support service

Dave Chady   26 July, 2020  

until now, i had no problems with withdrawals

Norah Verdy   4 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  

I'm thinking of joining them based on their signals, I'm currently on their free signal team too see how things go, so far I can say you're right in the sense that they do get easily offended when asked about the sigbals, even though I have not joined yet. I want to see if the trades play out etc.

Yukti   4 September, 2020

Before I deposited 250$ I was contacted by Dante *** working with Legacy. He supported, me gave me signals via telegram, email; and called until I made a deposit he handed me over to some lady by the name Gabrielle. she gave 2 signals via watsap and that was the end of her those 2 signals blew my acc and no1 wants to retext me. they have ignoring my texts since I blew my acc.

Mbongeni Mabaso   21 September, 2020


Dear Mbongeni,

Thank you very much for taking the time to write a review about Legacyfx.com.
The trading signals provided are not, and are not intended to be, an offer or solicitation to enter into any Forex transaction. It is solely the account’s holder decision to determine which, if any, trading signals to use for trading. The account holder understands that past performance associated with any trading signals, whether actual, hypothetical, or historically “back-tested” is neither necessarily indicative of nor a guarantee of future performance or success. Trading Signals may result in the total loss of the funds deposited.
If you may need any further assistance please contact us at support@legacyfx.com

Best Regards, The Compliance Team.

LegacyFX   22 September, 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  

Hi people, After following Legacyfx signals from James *** for a while (6 months) on demo I decided to join with 500$. After depositing I was given a different account manager one Jason *** who gave me signals. Made a profit of 41$ in one trade and realised that the signal strategy was not safe for that Kind of small account so I opted to withdraw funds to test their withdrawal system and up till now I have not gotten my funds back. I deposited with 2 debit cards, 300$ and 200$ respectively. On the 13th of August, 2020 I placed withdrawals for all $541. The withdrawals were done on the 13th of August 2020 and then the 300$ was approved on the 17th of August 2020 making 3 days just to approve the withdrawals. And I recieved rhe 300$ on the 25th of August, 2020. Up till now that have refused to approve the remaining 241$, that is over two weeks after I placed the withdrawal and and all emails sent to their account section are not replied. I never knew that they way this incompetent and fraudulent even with a meagre 241$ after all the signal hype and all worth nought. This broker has refused to sent my funds to my account and will not respond to my mails or chats with any reason for the delay. My fingers are crossed. This is just the beginning. 1300253135 Live account

Akakan   28 August, 2020

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Reviews Rating LegacyFX - 5

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