LegacyFX Review

1.991 · 26 REVIEWS
Updated: Jul 23, 2020 · LegacyFX.com  · Is this your company?

LegacyFX is a forex broker. Legacy FX offers the MT5 and MT5 Mobile forex trading top platform. LegacyFX.com offers over 40 forex currency pairs, cfds, commodities, stocks, indices, metals, bitcoin and other cryptocurrencies for your personal investment and trading options.

LegacyFX

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $500
Established: 2017
Address: Govant Building, Kumul Highway, P.O.Box 1276 Port Vila, Vanuatu
Contact: Support@legacyfx.com, +41315087455
Regional offices:
Regulators: VFSC #14579
Prohibited countries:
Trading platforms: MT5, WebTrader, Mobile Trader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (40+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (135+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Maestro, Neteller, Skrill, UnionPay
Withdrawal Methods: Bank Wire, VISA, MasterCard, Maestro, Neteller, Skrill, UnionPay

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1.991 · 26 REVIEWS
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Traders Reviews

LONDON, United Kingdom,
Jul 5, 2020,
Registered user

LEGACYFX IS A FRAUD

Service use: Live

Length of use: 0-3 Months

I will be as sincere as possible. Please STAY AWAY FROM LEGACYFX. While i understand that some will still go ahead and invest with them, I'll advise that if you worked hard for your money PLEASE DO NOT GIVE IT TO LEGACYFX.
1. When you come across them, they will assign you to an account manager that has been trained to manipulate you. They will tell you sweet words and advise you to listen to them-PLEASE DON'T DO IT
2. I have a first hand experience with them and it was not a good one, i know at least 3 people with the same experience.
3. When you do loose all your investment because of their wrong directions, no one will listen to you, and even when they do, they are set in their ways- their resolve will be to encourage you to invest more, not trying to help you resolve.
4. Don't get me wrong, i understand in trades there are gains and losses; but as a newbie, they offer to give you professional advise. I lost £1500 in a matter of days because Chris the so called professional advised trades that were beyond the account and the trades were on a consistent loss. I started loosing money when it went south at £100 but he said to leave and not close it, then it started loosing some more, he refused that i close it, until it got to -£712, and then another trade on -£386 same day, i was devastated because all these big losses could have been avoided. He then went on to ask me to open Crudeoil same day with a big size lot, this took all the money and closed it self.
5. I sat down and realised this is something they do upon closing on every Friday, because for some reason they have something to gain. They will never respond back to you after 4pm on Friday and this happened to me twice on Fridays with them.
6. I made a complaint via email, no one responded until i sent a 3rd email, then some guy Nick called me with a non-challant attitude and offered to reverse the last trade of £318, even after i sent evidences to Damyan about how i insisted to Chris that we close those losses of -£712 & -£386 when the price was still manageable, they totally ignored it and said i should forget about it; that they will never refund it, even though they agreed Chris made a wrong call.
6. I reported this issue to a regulatory body and they confirmed they had received several complaint about LEGACYFX.
7.I have all chat evidences that suggests the losses i incured could have been avoided and caused by one of their own; but none of them are willing to look at the fact.
8. After they returned £318 and i tried to withdraw it, they still had the effrontery to deduct £50 withdrawal fee, even when they know i had lost my money.
9. THEY LACK EMPATHY AND THEIR CUSTOMER SERVICE AGENTS ARE THE WORST. THEY ARE PLAINLY RUDE! They willcut off a chat without solving your issues.
10. THEY ARE NOT IN THE UK SO YOU CAN NOT CALL THEM, THEY CAN ONLY CALL YOU.
11. Since the inception of my frustrations, i have only received a call from a non challant person and THAT'S IT. I IMAGINE THEY ARE USED TO THIS AND CAN'T BE BOTHERED.
12. THE OTHER 2 PEOPLE THEY HAVE SCAMMED AND I ARE TAKING THIS UP SERIOUSLY AND OUR NEXT STEPS WILL BE SERIOUS.
13. I HAVE SENT OVER 5 EMAILS AND NO ONE HAS RESPONDED TILL DATE.
14. THEY KEPT ON SAYING ATLEAST I MADE MONEY AT SOME POINT..LOL, I MADE LESS THAN £60 OVERALL AND IT WENT BACK INTO THE LOSS OF OVER £1000 AND THEY DEDUCTED £50 STILL. VERY LAUGHABLE.
 
Yorkshire, United Kingdom,
Jun 12, 2020,
Registered user

Dont believe the HYPE on Telegram!!

Service use: Demo

Length of use: 0-3 Months

This is the LegacyFX.com account which is not under UK rules.(the one that has all the Hyped 1000pip Telegram messages.)I didnt join the LegacyFX.eu so dont have an opinion.

LegacyFX.com is not for a small account or beginner. (Im very new to this, 6 months learning and still stupid enough to look for short cuts to make money))

I wasn't concerned about spread size (which is high in comparison to others)it would be irrelevant if I could achieve the profits they claim.

I was lead to believe that they are an ECN broker so it is in their interest that you make money. Not sure if its true but I don't believe they have your interest at heart.

I demo traded for the last 3 days on the promise that I would join if I made a profit in the demo account which had £50k, i asked them to change it to £1k so that I could trade realistically and follow money/risk management(which they didnt do).
The minimum trade size is 0.1 lots, this makes it impossible to use risk management, with the amount of trades they are giving out daily I reckon you'd need a £5k minimum account to be able to keep within margin.

https://www.myfxbook.com/forex-calculators/position-size

If you are at a skill level to risk a £5k account I dont think you need tips and signals from these.

I ditched them after 3 days because the telegram group that gives out signals shows a 1000 pip profit for yesterday alone and they only mention one loss.

The truth is that my demo account lost money yesterday, I didnt take there biggest winner which was USDZAR, I have no intention of trading Minor or Exotic forex pairs, even if I had taken it I would still have made a loss.


I didn't lose any money as it was a demo account, but apparently you get a personal adviser once you have a real account, I have no doubt you will need to keep topping your account up to keep within margin to take all trades.

This is the hype-

"USDZAR + 900 pips (this was about 4 to 1 odds so not as good as it appears)
USDCAD + 76 pips
EURJPY + 26 pips
EURNZD + 61 pips
CADJPY +27 pips
GBPCHF + 39 pips
EURGBP + 7 pips
EURUSD +5 pips
GBPUSD +34 pips
AUDUSD + 20 pips
NZDUSD +3 pips
USDTRY - yet to develop

Total pips profit: 1198!"

I kept a journal if anyone wants to challenge this.!!

(For google search's sake - Adrian Savic Jake Miller )
Not for me, Ill go to the casino instead!
 
London, United Kingdom,
May 14, 2020,
Registered user

Worst broker to date. Scammers

Service use: Live

Length of use: 0-3 Months

The company starts off with friendly phone calls and professional advice from “professionals”. I have been hassled with phone calls as early as 7:20am with calls throughout the day to as many as 11 calls in a single day. I opened my account and did my own thing, performing my own trades and making money, I was callled and told that I’m having very good luck and that it would run out soon I should follow them. I was told in an asking way to deposit more money so I could “ make more money “ Because what I was doing wasn’t enough (started with £200, after day one had £300) every S.I.N.G.L.E time I requested a withdrawal I get an immediate phone call asking why and they suggest I don’t. These people do not care about you, only your money. I have no idea how they are “regulated” but stay clear.
 
United Kingdom, United Kingdom,
May 7, 2020,
Registered user

DO NOT go for this company

Service use: Live

Length of use: 0-3 Months

Please do not go for this company. First they enticed me in by telling me to put £200 in. I got assigned to a manager who at first was nice. Sweet talking and making it seem like his been doing this for a long long time. He told me To put in more money To secure my invest. I put in a further £1800. He told
Me keep buying and selling on the same trade. This is because they make money on the spread. He told me to invest in trades with very very high spreads so it took some time for me to get even. Never mind making money. I have lost all my trust in these forex companies. This was my first time trading. Never again. I have made a request to withdraw my money. The manager is trying his best for me not to do this but I told him. I don’t trust him or his company.
 
Pjo,
Antalya, Turkey,
May 5, 2020,
Guest

Legacyfx is not transparent

Service use: Live

Length of use: 0-3 Months

I funded my account with them after being cajoled by one FRANCESCA about the benefits of trading with them. I found out the terms and conditions after funding and it was not good enough for instance minimum of 0.10 lot size per trade.
I refused to place a trade and decided to withdraw my money. $50 was charged and I am yet to receive my money back.

I advise no one to chose them.
  1 trader has found this review helpful
Lagos, Nigeria,
Apr 20, 2020,
Registered user

LegacyFx, The Most Recommended

Service use: Live

Length of use: 3-6 Months

LegacyFx, The Group Was Introduced By A Brother And I Will Say That It's Qas The Best Thing That Ever Happened To Me. LegacyFx Have Proven To Alot Of Fellow Out There With The Aim Of Creating A Second Wealth Stream That They Are Capable Of Doing It. I Lost My Job Because Of This Covid-19 Pandemic And I Will Gladly Say That I Will Not Go Back To My Previous Job. Ain't Gonna Lie To The Society, If You Are New Into Forex And You Want To Grow Better, I Recommend LEGACYFX . Thanks Once Again
 
Divyang,
London, United Kingdom,
Apr 12, 2020,
Guest

Legacyfx scam

Service use: Live

Length of use: 0-3 Months

Legacy fx company is a big scammer I opened my account and company manager called me fo you have a knowledge I said not to much ok I will do it I asked them please open first demo account and please give me training first but he said don’t worry I will do it he said please download in your computer anyonedesk and give me id and pw . I gave them and he did without any information he said ok please watch how I do and he did gold trade and within 15 min he loosed my money. His name is jimmy he is a big scammer. I do not recommend legacy fx. It’s scammer
 
London, United Kingdom,
Apr 4, 2020,
Registered user

Terrible started well but they made me blow whole account

Service use: Live

Length of use: 0-3 Months

Opened and account with minimum $250, was given signals by Gabby. Started well but constantly wanted to deposit more to trade oil and indexes.
I added up to $2000 increased account to $3000 by trading. then again wanted more. I did not have any more used all of my spare cash. Then they started taking bigger risks, getting me to trade bigger and lost most of the account in 2 days.
I am now in serious debt and do not know what to do.

Stay away from these people.
I have all of the whatsapp messages including my comments about risk, i have all notes they gave me about trades.
  1 trader has found this review helpful
Johannesburg, South Africa,
Mar 30, 2020,
Registered user

Jake Miller from legacyfx is by far the best trader.

Service use: Live

Length of use: 0-3 Months

Legacyfx has the best trader in the world, they give live signals compared to other brokers that give signals at certain times only and the signals have a high success rate. You get signals for different pairs indicies even commodities i sont know if there is more to ask. Join legacyfx and your life could change.
 
Chris,
Nigerian, Nigeria,
Mar 28, 2020,
Guest

Scam company. Run away from Adrian!!!

Service use: Live

Length of use: 0-3 Months

Don't trust legacyfx. This is a scam company. They will entice you in the beginning with good signals and support. They will make you trust them and then they start giving you bad trades to blow up your account. After one month of successful trades, they blew up my account with over $2000.
Stay away from these scammers
  1 trader has found this review helpful
São Paulo, Brazil,
Mar 23, 2020,
Registered user

Totally Fraudulent

Service use: Live

Length of use: 0-3 Months

393/5000
Like all the other comments here, I was duped. In the beginning, a guy named Jake informed me that he would have VIP signs, which didn't happen. Therefore, this broker has a very high spread and minimum lots of 0.10 in pairs and 1 contract for indices and commodities. Therefore, if you request a withdrawal, they will keep $ 50 from you, at the end. Absurd. The FCA should close this broker.
  1 trader has found this review helpful
Reply by Legacyfx submitted Mar 26, 2020:
Dear Raphael,

Thank you for taking the time to write a review about LegacyFX.
We are sorry to hear you had a bad experience with our company.
With regards to the closure fee, please note that we are transparent about the trading terms and conditions that we offer.
Spreads and financing charges are available even with out login in our website.
Please refer to the T&C you agreed upon signing up to your trading account.
If you may need any further clarification please do not hesitate to contact us at support@legacyfx.com

Best Regards.
The Compliance Team.
Ali,
Australia, Australia,
Mar 13, 2020,
Guest

Fraud and fake superstars. Wachout and do not trust this fake company.

Service use: Live

Length of use: 0-3 Months

I have requested for withdrawal but no one is responding me and I will go and internationally follow it because I hate thiefs and I will bring them down with all the stolen money. Let's see who will be a winner soon.
  1 trader has found this review helpful
Reply by Legacyfx submitted Mar 26, 2020:
Dear Ali,

Thanks for your feedback and time to post it.
It will be very useful if you could provide us with your account number so we can investigate your case and reply accordingly with the details.

Please feel free to send us a message directly to support@legacyfx.com and we will make sure to take care as we usually do.

Best Regards,
The Compliance Team.
Rekha Shrestha,
Sydney, Australia,
Mar 1, 2020,
Guest

Scammers

Service use: Live

Length of use: 0-3 Months

We did trading believed in them and out life saving is gone. In matter of 10 min.
We requested refund and they need our credit card back and front which if they valid never ask.
My husband left devasted for months in tears and empty bank account
  1 trader has found this review helpful
Reply by Legacyfx submitted Mar 4, 2020:
Dear Mrs. Shrestha,

We would like to conduct an investigation of your trading experience with LegacyFX.
We kindly ask you to contact the LegacyFX Support Team via email to support@legacyfx.com.

Regards,
The LegacyFX Team.
Accra, Ghana,
Feb 24, 2020,
Registered user

They are in it to make money for themselves

Service use: Live

Length of use: 0-3 Months

I have noticed most of the positive reviews are from people who deposited not too long ago. Initially, they give u attention but their spreads are very high, their website is suspicious, withdrawal is a nightmare and their mobile trading platform is unstable. I wouldn't advise anybody I love to trade with legacyfx. Their people are good especially Jake Miller but if you dont deposit a lot of money, you will be left to the sharks. I would recommend picking a different broker.

Jan 23, 2020 - 4 Stars I started trading live with legacyfx on the 6th January,2020. I lost 60% of my account but with the help of Mr. Jake Miller I have recouped my losses and gained substantial profits. Mr. Jake has really been a blessing. Also their no swap account is a great help.
  2 traders have found this review helpful
Kaliningrad, Russian Federation,
Feb 5, 2020,
Registered user

Nightmare

Service use: Live

Length of use: 0-3 Months

This is not a broker, this is a nightmare. I can't say they are full scam since they partially withdrew my funds, but... I opened an account near 1 month ago. I got a call every day from they with a offer to trade by their signals. Every time I refused and finally they stopped calling. At the same time they stopped to answer me by email. The point is that I planned to trade with EA, but noticed in MT logs that such trading is disabled by their server. I tried to contacted them many times by different emails but no one replied to me. Finally I sent a withdrawal request. No any actions from the company for 1 week. After they processed this but deduct 50 USD for that...
  1 trader has found this review helpful
Singapore, Singapore,
Jan 28, 2020,
Registered user

Followup to my earlier post (2)

Service use: Live

Length of use: 3-6 Months

After my account showed 5k deducted on 15.1.2020, funds still not received at my bank. They said wired on 15.1.2020 and takes up to 10 days (see my other post). I first requested to withdraw my funds on 23.12.2019.

They stopped replying to my emails.

I make another request for the balance of funds in my account today.

Wonder what excuses or will they even answer me.

Jan 23, 2020 - 1 Star After more runabout with their purported Support, Compliance and Finance Departments (but appears to be only 1 guy, Ismail wearing different hates) they finally said that my withdrawal was processed on 15.1.2020 by international wire transfer.

I enquired yesterday and they replied that "It may take between 5 to 10 business days for it to reflect back into your bank account, depending on your bank's regulations and your country's restrictions."

What c***, are were living in the stone age for funds transfer to take 5 to 10 business days?

Today 23.1.2020 still no funds received.

Lewis Borriso, the guy who pressured me to open the account has disappeared from the scene. Steven Hanna my Senior Account Manager had been silent. They use this number +41315087455 and Whatsapp +44 7404983824.

Oh... they claim they "partner" investing.com

FPA, please take the necessary action to protect innocent investors from this fraudulent scam shop.

Jan 14, 2020 - 1 Star Promises of great service with "personal financial advisor" to "help you make money". Once you opened account and deposit funds they asked to increase deposit for better service - personal financial advisor and small spreads. I didn't buy the pitch but unfortunately deposited US$5k.

26 Dec 2019: I requested to withdraw my funds. NO RESPOND/CONFIRMATION.
27 Dec 2019: I emailed support to enquire. Reply: "Your request (XXXX) has been received and will be reviewed by our Compliance & Support Department. Please note, all requests are handled in the order they are received and will be responded to within 1 to 3 business days."
31 Dec 2019: Received email from Support that "you didn't submit a withdrawal request from the site." I went to website and resubmitted. CONFIRMED REQUEST RECEIVED.
6 Jan 2019: Emailed Support to enquire status.
9 Jan 2019: Received email from Compliance that "Your withdrawal request has been APPROVED and must be processed using an alternative payment method. In
order to process your request, please provide the information as outlined below." I provided details immediately.
Today 14 Jan 2019: Received email from Compliance that insufficient details for funds transfer and to provide more. I sent my bank template details again for receiving funds. Let's see what new excuses they come up with.

I will name all their people in the next post, if necessary.

Oh... MT5 platform, Spreads were EURUSD-1.8pips, GBPUSD-2 pips, Gold- $0.67, US30-4.90 pips, US500- 1.60 pips
  1 trader has found this review helpful
Municipal Area Council, Nigeria,
Jan 24, 2020,
Registered user

Reasonable and Empathazing

Service use: Live

Length of use: 0-3 Months

My withdrawal request has finally been honored. I also got a call from a representative. @Alan. He empathized with me and pointed out how my negative experience was the result of a major oversight by my account manager. I have been offered compensation and an assurance that this kind of experience will never repeat itself.
I like that they offer zero spreads and I am willing to give LegacyFX another try.

Jan 22, 2020 - 1 Star It is one week now and LegacyFX has not honored my withdrawal request.

I will indicate here if/when they do

Jan 16, 2020 - 2 Stars Legacy FX has proven to be an unreliable broker. I got a contact from Jake Miller who pestered me until I made a deposit. Before I did, there was promise of joining a VIP group- none exists. An account manager was instead assigned to me who gave a couple of wrong trade calls, and stopped after that. Now before joining, Jake will announce that trade calls will get changed in the VIP group, the account manager never did.

They offer a swap free account for real, but then force traders to start trading from 0.10.

Promises should not be made if they cant be fulfilled.

Finally, they are refusing to honor my withdrawal request
 
Mbabane, Eswatini,
Jan 23, 2020,
Registered user

Jake Miller the best mentor

Service use: Other

Length of use: 3-6 Months

I've been following Jake miller's signals and I've never seen such huge profits before. I'm happy with Legacyfx and i really appreciate Jake Miller's work.
 
sofia, Bulgaria,
Jan 17, 2020,
Registered user

decent broker in overall

Service use: Live

Length of use: 0-3 Months

i been dealing with legacyFx for the past 3 months only , by that time i didn't know anything about trading and i don't want to pretend i super trader now but i do 5%/8% weekly from my account , in general the platform is nice and simple with custom tools and Mr Hani is helping me a lot
made some profits , had withdrawal and got my debit card and like the fact its Islamic trading account no roll over the night
 
Abu Dhabi, United Arab Emirates,
Jan 6, 2020,
Registered user

Good Customer service

Service use: Live

Length of use: 3-6 Months

I was not happy initially then they help me and will recommend them. Adrian was a nice person to deal with

Dec 25, 2019 - 1 Star 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.
  2 traders have found this review helpful
RU, Russian Federation,
Dec 2, 2019,
Registered user

scam and bucketshop

Length of use: 0-3 Months

the use 2 second delay for all EA trades and call it "safety feature"
after I realised they they are bucket shop and withdraw all funds, they took 50 USD as account closure fee.
  3 traders have found this review helpful
Reply by Legacyfx submitted Dec 3, 2019:
Hello Dear client,

Thanks for your feedback and time for post it,

It will be very useful if you could provide us with your account number so we can investigate your case and reply accordingly with details

Please feel free to send us directly to support@Legacyfx.com and we will make sure to take care as we usually do.

Best regards
Nuruddeen Hayatu Majidadi,
Kano, Nigeria,
Nov 28, 2019,
Guest

Jake Miller best mentor

Service use: Demo

Length of use: 0-3 Months

LegacyFx are one of the best brokers in the while world, assigning a mentor to new traders who help them achieve success, gain more knowledge and become consistent with taking profit. Jake Miller is one of the best mentor LegacyFx have, I really appreciate his effort to make me a success. Thanks
 
Francis Kaaya,
Tanzania, Tanzania, United Republic of,
Nov 14, 2019,
Guest

The strength of the legacyfx

Service use: Live

Length of use: 0-3 Months

My name is francis P , i have been doing my trades using the signals from legacyfx professional market mentor Jake Miller and ofcoz my account has grown very rapidly. At the first i thought it was a scam until he confirmed me with some several pairs that were accurate . Up to this moment am enjoying the profits daily.
 
Tanzania, Tanzania, United Republic of,
Nov 14, 2019,
Registered user

Service use: Live

Length of use: 3-6 Months

Really, basing on experience with this company, it has been doing well for my side specifically when i met Jake Miller the legacyfx mentor who has been giving me the accurate trading signals that have risen my account balance very quickly. Thank you brother
 
Kamsi,
Nigeria, Nigeria,
Oct 31, 2019,
Guest

Good signal

Service use: Live

Length of use: 0-3 Months

Legacyfx gives me correct and accurate signals, they have helped me as an inexperienced to grow my live account, Kudos
 

Frequently Asked Questions

What is LegacyFX?

LegacyFX is an online forex and CFD broker, located in Vanuatu. LegacyFX offers following assets to be traded on MetaTrader 5 platform.

  • Forex
  • Gold CFDs
  • Oil CFDs
  • Crypto CFDs
  • Stock CFDs
  • Indices CFDs

Is Legacy FX legit?

LegacyFX is regulated in Vanuatu by Vanuatu Financial Services Commission under license 14579.

Being regulated doesn't automatically mean it is legit, it means there is a place to report or complain when it is needed.

The best way to understand if LegacyFX is a legit or good broker is to read the unbiased traders reviews on ForexPeaceArmy. https://www.forexpeacearmy.com/forex-reviews/16685/legacyfx-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent LegacyFX community discussions: https://www.forexpeacearmy.com/community/tags/legacyfx/

Is LegacyFX regulated?

LegacyFX is regulated in Vanuatu by Vanuatu Financial Services Commission under license 14579.

What is the maximum leverage offered by LegacyFX?

The maximum leverage offered by LegacyFX is 200:1 for all available accounts.