LegacyFX — Forex Broker Rating and Review 2020

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

Address 47 Ioanni Kondylaki Street, Q Tower, CY 6042, Larnaca, Cyprus
Headquarters Larnaca
Free phone +35725030673
24 hour support
Mobile trading
Demo account
24 hour trading
Digits after the dot in quotes 2
Minimum position size 0.1
Pip spread on majors
Spread Type variable, fixed
Maximum Leverage 30
ECN, $
STP, $
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

Don't use legacy fx. They are incompetent and they will give you inaccurate signals and try to get you to deposit more and more money.

JP   25 May, 2020  

This people are fraud. Taking money after asking too much document as if they are giving money to you in installment.

Niwin   20 May, 2020  

I can tell you firsthand this company is a scam and simply wants you to deposit money with them any way possible and they will make it disappear very quickly. They will pressure you to deposit more and more to cover the losses and then you'll eventually be left with $0. Stay away from LegacyFX!

Pat   14 May, 2020  

This is the note I sent to one Francesca who cajoled me to fund my account with Legacyfx: Hi Francesca, I hope you are well. I'm so disappointed that you marketed a white elephant platform to me. There are conditions of using your broker that was not explained to me until I funded the account. What you told me about tight spread was a farce. The spreads are so hard. You misrepresentated the autochartist to me and I found out when I spoke with Jason. How come you didn't tell me that the minimum lot size with you is .This very outrageous for a beginner. That's a set up for failure for inexperienced traders. Finally, when I saw these I refused to place a trade decided to close the account and the next thing is $50 was deducted from my fund. Well, I m waiting to receive the money in my account and the $50 means nothing to me. But I must say you and your company lack integrity and transparency. I will go to add my review to the previously bad ones you have before. I regret not checking your reviews before hopping in. Good day

Ojo   5 May, 2020  

I have been chasing this company for almost three weeks with no results i have been getting this email everytime i have tried emailing them. "Dear Wael, Thank you for contacting us! As per your email, we have informed the relevant department to contact you as soon as possible regarding your inquiry. Thank you for your patience and cooperation."

Wael Y Salman   20 April, 2020  

The fact that they don't want you to join their VIP signals unless you deposit in their platform that's a redflag

Sam   11 April, 2020  

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  

Legacyfx will seem legit at first, but once you make a deposit you can say bye bye to your $ which will never be loaded into an actual segregated trading account! Fraud artists here!

Pat   14 May, 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

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