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
Forex Peace Army
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

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
 
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
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
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
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
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.
 
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.
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.
 
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
 

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.