LegacyFX Review

1.922 · 29 REVIEWS
Updated: Sep 7, 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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1.922 · 29 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

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
 
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
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
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
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.
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.
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.
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
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.
 
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

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.