LegacyFX Review

1.895 · 38 REVIEWS

A.N. Allnew Investments Ltd.

Updated: Sep 29, 2021 · LegacyFX.com (.eu)  · Is this your company?

LegacyFX is a forex broker established in 2017 and registered with SySEC (Cyprus), and VFSC (Vanuatu).

LegacyFX offers MetaTrader 5 platform also accessible by web or using mobile apps. Over 200 CFD trading instruments are available including Forex, Stocks, Indices, Commodities, and Cryptocurrencies.

Additional features offered are signal service, AutoChartist plugin for MT5, market analysis, and news and trading opportunities.

Please read LegacyFX Reviews below and share live trading experiences with this broker.

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: CySEC #344/17, 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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1.895 · 38 REVIEWS
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Traders Reviews

Somewhere, United Kingdom,
Aug 7, 2021,
Registered user

No Problems have taken Trading Acc UP x 6

Service use: Live

Length of use: 0-3 Months

I am an experienced Self Trader and have not had problems with LegacyFX. MY Broker is Martin Baker. I was concerned that they are regulated in Cyprus & Vanuatu but haven’t had problems. If you haven’t traded before, Trading is risky! 75% of traders lose money with any broker world wide! I have an Account with LegacyFX & another with IGIndex (who are FCA Regulated). I trade 10 lot sizes in Forex which for a private individual is quite big. The secret to trading is to generally go for 2:1 trades so if you open 10 trades with a stop loss of say 50 pips your max return would be 10x 100pips profit (1,000 pips) and max loss 500 pips. Get5 out of 10 right profit is 5x100=500pips on other 5 you lose 5x50pips=250pips Total profit 500–250pips=250pips 250 pips x $1 per pip = $250 profit. You only have to get HALF of trades right. It is ok to do trades with lower than 2:1 like 1.7:1 any lower than you have to get 6 or 7 trades out of 10 right. I am just signing up for their PAMM Account & if you have $5,000 or more (this set by me) you can copy my trades in your account. I do my own thing! Make my choices on trading and have withdrawn $15,000 of my profits without problem.
 
Lancashire, United Kingdom,
Mar 11, 2021,
Registered user

These people are unscrupulous fraudsters. KEEP WELL AWAY !

Service use: Live

Length of use: 6-12 Months

These people entice you in by asking you to trust them as professional traders. I was coerced into investing, at first a small amount, then a larger sum until eventually I had sent them £400,000. In less than ten months the account was wiped out. They place trades without using any stop loss, and when the equity falls to critical levels they ask for more money to shore up the account. Once they have bled you dry, they allow the account to blow up, after which they tell you they are not responsible as you are the one who presses the button to initiate the trades.
I am in the process of contacting the Cyprus FCA, and financial ombudsman of Cyprus, to look into my case, and hopefully stop these people from trading, and scamming anyone else. Beware in the U.K.,as they also have a temporary licence to ply their trade in the U.K.,although I have also alerted the FCA in London of their modus operandi.
 
Reply by Legacyfx submitted Mar 18, 2021:
Dear Percy,
Dec 11, 2020
Dear A****,
Thank you for taking the time to post a review about LegacyFX.
LegacyFX is an established and trusted broker, while a trader may not be satisfied with the results of his/her own trading, that does not mean they were not treated fairly by the service provider. Trading forex does carry a high level of risk and the investor must be aware that they could either profit or lose their invested capital. The market does fluctuate and could become very volatile at times.
All trades are conducted according to our Terms and Conditions, which you signed and agreed to.
In case you need any further clarification , please contact us at Support@LegacyFX.com

Best Regards,
The Support Team.
UAE, United Arab Emirates,
Feb 16, 2021,
Registered user

Extremely Bad Experience with such amateurs

Service use: Live

Length of use: 0-3 Months

I will try to be as fair as possible. They are probably a legitimate company. I was able to deposit and withdraw without issues. My big issue is with their so called "Account Managers". Those people should not be in the financial markets, and should rather work in some grocery store. As shown in the below comments, and I also got driven with their interpretation of the market analysis, which was based on exactly the opposite direction. I am not saying they did it on purpose, but at least, they were guessing. Once you get held on a trade, they keep pushing you to add money since the market will end of moving in your direction. Offcourse you get dragged coz you sure dont wana lose your money, but you will end up losing the money + that additional money you added in the hope that this would save your account. The best part is... when you dont agree to add money and/or keep your losing trades running, they will start asking senior people (as they claim) to contact you. I used to get called from Joe (my account manager), and his senior called me, and then a 3rd guy, which as they claim, he is from the risk management team who specializes in account recovery... LOL... the point is.. they will keep trying to take as much as they can from you... and no matter how good their analyses sounds, I can assure you, out of all trades he advised me about, none worked!!!

Now the second bad thing about them is... there spreads are EXTREMELY high. Moreover, the minimum lots is very high as well compared to other competitors

When you ask about their bad review, they will tell you... even samsung and apple has bad reviews. Its funny how they link themselves to such huge companies. But I can assure you the bad reviews are not based on nothing. Those guys know how to manipulate facts to get you into wrong trades and/or maybe they are just guessing. Eventually, all those setups blew off my account.
 
Reply by Legacyfx submitted Mar 18, 2021:
Dear Thr49,
Thank you for taking time to post a review about Legacyfx.com. Trading Forex carries a high level of risk and it may not be suitable for all investors since you may lose all your invested capital. The account holder is responsible for the trades placed in his/her own trading account, which is listed in our Terms and Conditions which you agreed to. However, we cannot find you in our system, please contact our Support Department and provide your email address or account number, so we can assist you.
Best Regards,
The Support Team.
Jason,
Singapore, Singapore,
Nov 26, 2020,
Guest

Do not trust them

Service use: Live

After you lose all your money, they just blame it on the market.
All their trades has commission, they do not care if you lose or win.
 
Reply by Legacyfx submitted Dec 4, 2020:
Dear Jason,
Thank you for taking time to post a review about Legacyfx.com. Trading Forex carries a high level of risk and it may not be suitable for all investors since you may lose all your invested capital. The account holder is responsible for the trades placed in his/her own trading account, since you are the only one that has access to the account. If you may need any further clarification please contact us at support@legacyfx.com Best Regards, The Compliance Team.
Panamá, Panama,
Nov 22, 2020,
Registered user

Has been good

Service use: Live

Length of use: 0-3 Months

I have using legacyfx for 30 days now, Jason is my advisor and since Day one he told me small accounts are very risky, he told me on his call the lot size they use is 0.1 and explained the risks etc. I accepted it all, after one month I almost doubled my money and started with $4,700, I have not done withdrawals yet but I will do one tomorrow (Monday) to see how it goes. So far I am very pleased with the service, Jason is always responding to my messages and again very happy with the results.
 
australia, Australia,
Nov 19, 2020,
Registered user

What else you call scam if not this co.

Service use: Live

Length of use: 0-3 Months

I joined in via telegram account . I had been told I get a mentor and $250 is enough to trade with. I got Steven who was arrogant and from day 1 told me my capital (almost $470) is not worth his time. they earn commission on your loss or profit! He called everyday and asked for more capital as apparently my account wasn't worth his time. At the end he pushed me into a trade with no stop loss. my capital was gone in 8 days just bc it was waste of time for him. The Co. responded poorly apparently Steven is a biggest sales person. They don't trade with their money so be aware. if you have little capital you don't worth their platform and there is no customer protection. Don't ignore negative review as I did. This is for real. Unethical, scam conman they are. Their bank account also is in KUWAIT......
 
Reply by Legacyfx submitted Nov 20, 2020:


Dear Hapglad,
Thank you for placing a review about Legacyfx.com.
The Forex market carries a high level of risk and can be very volatile at times. All trades are conducted according to our Terms and Conditions, which you signed and agreed to. While a trader may not be satisfied with the results of his/her own trading that does not mean you were not treated fairly by your account manager.
If you may need any further assistance, please do not hesitate to contact us at compliance@legacyfx.com.
Best Regards,
The Compliance Team.
Nairobi, Kenya,
Nov 16, 2020,
Registered user

Really fast to set up and payoffs are asap

Service use: Live

Length of use: 0-3 Months

I learnt about Legacy fx on telegram and i've never regretted since..they have good leverages of upto 200:1 and alot of currencies including cyptos to choose from..and they dont have any hidden fees
 
Lagos, Nigeria,
Nov 16, 2020,
Registered user

Legit broker

Service use: Live

Length of use: over 1 Year

This is legacyfx a very good broker that I have been working with,and I love it here,they are so good and legit,they don't delay,and they do give exclusive offers to their customers which many others broker will never have(believe me), Their personal managers are well experienced.I will recommend this broker to anyone 100%.
 
london, United Kingdom,
Nov 11, 2020,
Registered user

Scammers to get to Trade like that so u need to put money in everytime

Service use: Live

Length of use: 0-3 Months

Biggest Scammers and Dishonest People in Market

Firsts they have no Clue of something Call Risk Management .

i am with them from Sep-2020
At first start with contact availability apart from they can call you from VOIP which no one call back.
one person So called ACCOUNT MANAGER ( Same Person with different names to Different People)

First they will say Lets start with 250
I deposit 5K and Drunk Guy ( Oliver) have no clue apart from just asking to deposit and deposit and Deposit.

every call they make u is for Deposit.
their real business is Not making Trader money but make money on Deposits of people.

Their Spread is way too high.
and
i can honelty tell you these guys have no clue what to do just words and words.

I end up adding 6 K more and Lost all my money.

Its my request dont put even signle penny in this company.
i will proper complaint to FCA as well.iGot all proofs with me .

I will make sure they loose their licence if they have any in UK.

for Withdrawal it will take u 10 days . forget about it. if any one wants to see their money last time please part of this company.
And i am not writing all this in anger but to save others from these scammers and idiots sitting there to make u end up in sitution to loose all or need to add money so they can make big chunk of commission on your deposit. as So Called Account manger makes 10% or more on our deposit.
so its deposit game.
  1 trader has found this review helpful
Reply by Legacyfx submitted Nov 16, 2020:
Dear Mrs. Shaun
Thank you for placing a review about Legacyfx.com. We are very sorry the market did not go in the direction you expected. While a trader may not be satisfied with the results of his/her own trading that does not mean they were not treated fairly by your account manager. The Forex market carries a high level of risk and can be very volatile at times. The lot size of 0.1 is the minimum and standard size when trading commodities. All trades are conducted according to our Terms and Conditions, which you signed and agreed to. If you may need any further assistance, please do not hesitate to contact us at compliance@legacyfx.com.
Best Regards,
The Compliance Team.
Abraham Adeleke,
Lagos, Nigeria,
Nov 5, 2020,
Guest

PLS STAY AWAY FROM THIS SCAM BROKER

Service use: Live

Length of use: 6-12 Months

pls i beg all traders to stay away from this broker for many reasons and i will painfully list them here, because i am a real victim of these people:

1. minimum lot size is 0.1 lot, which is never expressly stated anywhere in their website. so if you dont have huge money, pls stay away.

2. their spreads are ridiculously high. they say they dont charge swap but their spreads are as high as 70 to 80 pips.

3. they provide you with signals which seems good at first, but immediately you deposit, they will start pressuring you to take trades, and overtrading leads to losses.

4. when you want to take your minimum deposit ($250) out, they charge you $50 commission for account closing fee.

5. the names of their account managers are very sketchy and they are not real.

pls i beg whoever is reading this to run as fast as possible from this broker. i took my time to write out this review and i just hope it reveals the truth that this company is a big scam!

Nov 2, 2020 - 1 Star i wish there was a way i can rate LegacyFX zero stars. if you wanna lose your money in the twinkle of an eye, just join this broker.

i simply advise new traders to stay away from this broker, especially if you don't have big money like $5k-$10k. Cos how will you deposit $250 and make money consistently without using proper risk management.

all the so-called account managers (james lok, mike thurston, jake miller, jason bergoff, martin baker, anthony todorov, sunny mason and so on) are all scammers and are the same person. Just go on telegram and search these names, you'll see that they are posting the same content, scamming a vast majority of people. i can beat my chest and say that i have done my research... i exposed this on another website and they removed me from their groups on telegram, lol funny!

another thing is that the minimum withdrawal is $100, why can't one withdraw $10 for crying out loud!!!

newbies, i beg you dont fall for their discount offer of $250 (with a minimum lot size of 0.1). it's better you should put your money in another broker, use their signals/analysis (it's quite good) and manage your risk yourselves.

Sep 4, 2020 - 1 Star This broker entices you to bring $250 to start trading on their platform with a 0.1 lot size, which is very wrong. This won't allow you to position size and manage your risk. So, if you have 3 or 4 losing trades, your trading account is gone.

I put $250 in their platform in April and blew it twice because they don't allow traders to choose their lot size. I didnt know all this stuff at the beginning, so they took advantage of that and encourage me to deposit. I deposit $250 and $300 and lost both amounts with the help of their so-called signals group.

People rating them 5 stars are people who just recently started using their service. They don't really know what's going on. Give them one month, I bet you, they will lose their money.

Generally speaking, don't put your money in LegacyFX because they are dishonest and only out to get your money!!!

Reply by Legacyfx submitted Sep 7, 2020 Dear Mr. Adeleke,

Thank you very much for taking the time to write a review about Legacyfx.com

Please note that there is no such thing as an account manager not letting you to change the lot of your trades. No one has control over your trading account but you.

Legacyfx.com offers all clients a Dealing Room service, our clients are able to contact the Dealing room and open and close trades after sending expedite instructions about lots, stop loss etc.

Further to your feedback, we regret to hear that you are unsatisfied by the services even though we complied with all your requests on time such as sending your withdrawal back and giving you the service of the best account managers.

If you may need any further clarification please do not hesitate to contact us at compliance@legacyfxc.com
  1 trader has found this review helpful
Reply by Legacyfx submitted Nov 12, 2020:
Dear Abraham,
Thank you for taking time to post a review about LegacyFX.
We are very sorry the market did not go in the direction you expected. The Forex market carries a high level of risk and can be very volatile at times. While a trader may not be satisfied with the results of his/her own trading, that does not mean they were not treated fairly by your account manager.
All trades are conducted according to our Terms and Conditions, which you signed and agreed to.
In case you need any further clarification other than what we have already provided you when you spoke with one of or agents, please contact us at compliance@legacyfx.com.

Best Regards,
The Compliance Team.

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.