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Review of the Legacy FX broker – reviews of the company’s clients about financial losses
Legacy FX is a brokerage company providing services in the field of trading stocks, commodity markets, indices and currencies at the international level. The project is aimed at a wide range of clients, offering a variety of tools and platforms for trading, including the popular MT5 platform. However, in the Russian-language segment of the Internet, cases of fraud related to the illegal activities of the office are actively discussed, which raises certain concerns among potential clients.
|Year of foundation
|Regulation and jurisdiction
National Bank of the Republic of Belarus
Govant Building, Kumul Highway,
P.O.Box 1276 Port Vila,
Republic of Vanuatu
- MT5 support
- Offshore registration
- Website cloning
- Problems with payments
|Types of accounts
Standard, Bronze, Silver, Gold, Platinum, Premium, VIP
Bank cards, bank transfers, Webpay, BePaid
Fixed and floating, from 1 to 3 points
Currency pairs, metals, indices, commodities, cryptocurrencies
Loyalty program, safe operating mode, referral programs
What is known about the Legacy FX broker
The project has been operating since 2017 and is positioned by the administration as an international broker providing financial intermediary services. However, information about the company’s head office and its exact place of legal registration is not disclosed on the official website. This raises questions regarding the transparency and reliability of the company, since potential clients and partners are not able to fully assess the legal status and location of the broker.
In relation to financial regulation, activities Legacy FX licensed and regulated by Vanuatu Auditor (VFSC). While holding an offshore commission license is an indication of a certain level of regulation, it is worth noting that Vanuatu is often seen as not the most transparent jurisdiction. This raises some concerns among traders and investors as offshore regulators typically offer less investor protection compared to more stringent regulators such as the FCA in the UK or the SEC in the US.
Benefits and statistics:
- FX Legacy offers a variety of account types, including swap-free;
- the company provides access to daily market analysis, signals and premium Autochartist tools;
- MT5 platform is one of the most popular in the world for Forex trading;
- the project is actively involved in educational activities, offering unique programs for beginners and experienced traders.
However, clients notice incompetence Legacy FX official website It works crookedly, the vast majority of sections do not open, including the block with important legal documentation. Such shortcomings indicate a negligent attitude of the project administration towards the organization of trading.
Trading conditions and types of trading accounts in Legacy FX
The company offers various types of trading accounts, each of which has its own characteristics and minimum deposit requirements:
- STANDARD: from $500;
- BRONZE: from $1000;
- SILVER: from $3000;
- GOLD: from $5000;
- PLATINUM: $10000;
- PREMIUM: $25000;
- VIP: $50000;
- Islamic account: special conditions for compliance with Sharia norms.
Legacy FX uses the MetaTrader 5 (MT5) platform, which is available in versions for PC, iOS and Android. The terminal provides traders with a wide range of tools for analyzing financial markets and performing trading operations in real time.
Terms of trade:
- leverage: Reaches 1:200;
- spreads: start from 0.6 points;
- commissions: there are no commissions on the trading platform;
- educational materials: provides extensive educational materials and live webinars for traders;
- daily signals: live signals and publications of the main trends in financial markets are available on the broker’s website;
- methods of replenishment and withdrawal of funds: debit and credit cards, electronic payment systems, bank transfers.
The trading conditions of this broker are no different from the commercial offer of the average counterparty in the financial markets. At the same time, sharaga is not able to provide transparent service. Given this situation, it would be logical to refuse services Legacy FX personal account in this platform – a death sentence for a novice investor’s deposit.
Exposing Legacy FX Broker
The office claims to be regulated, reliable and transparent. However, upon closer analysis, signs are discovered that raise doubts about the integrity of the project founders.
Legacy FX is managed by the A.N. group of companies. Allnew Investments Ltd, which owns several sites:
Each of these sites operates autonomously, without obvious connections between them, which suggests an attempt to hide the true connections between various legal entities and complicate the process of bringing scammers to justice.
Legacyfx.eu is registered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC), but does not provide services to Russian clients, redirecting them to int.legacyfx.com. This site, in turn, is owned by a company licensed by the Vanuatu Financial Services Commission (VFSC), which means there is little regulation and the potential for trading terms that are unfavorable to customers.
There are many complaints that the forex kitchen does not allow clients to withdraw funds. This is due to the fact that the broker creates conditions leading to the loss of the deposit, and also blocks client accounts without explanation.
Office address Legacy FX is listed in Vanuatu, but the Call Center phone number is registered in Switzerland. This discrepancy suggests an attempt to create the appearance of international activity while the company’s actual location and operations remain unclear.
Legacy FX’s presence on social networks is characterized by low activity and increased followers. Scammers intend to create the illusion of popularity and trust, while real interaction with customers and the community is limited.
In Russia, sharaga operates illegally. The broker does not have a license from the Central Bank of the Russian Federation. The company is not officially registered in the country. The project also refused to cooperate with liquidity providers. The above factors are a good reason to refuse Legacy FX investments opening a trading account will only increase the financial losses of users.
Trading on the Legacy FX platform is the most absurd solution, because the project is run by scammers who use quote manipulation to reset user accounts. The office will not allow you to make money, since the sharagas make a profit by draining traders’ money, commissions and spreads are not interesting to scammers.
Reviews about working with the Legacy FX broker
Investors are dissatisfied with the quality of brokerage services Legacy FX reviews show obvious problems with solvency. The company refuses to do a cashout. constantly looking for some ridiculous excuses why it is now impossible to withdraw money.
Ruslan encountered problems when trying to withdraw funds Legacy of FH. He points to constant requests for new documents for verification and problems arising with each cashout attempt, which led to the loss of access to his money. This review highlights a common problem with fraudulent brokers where the verification process is used as an excuse to delay or deny withdrawals.
Victor says that the counterparty first offered free signals, but then began to withdraw money from the account without his consent. After verification attempts, the account was blocked. The user indicates manipulation on the part of the broker and misuse of client funds, which is a serious sign of fraud.
TiMuR categorically calls the project a kitchen, meaning that the company is engaged in fraud aimed at losing customer deposits. Lack of trust in a broker causes serious reputational damage to the organization.
Nikolay777 criticizes the reliability of the company, pointing out the lack of normal, non-offshore regulation. He argues that a Vanuatu Commission license does not guarantee the safety and reliability of a broker. The trader emphasizes the risks associated with working with counterparties who have offshore licenses.
Sanya47 shares his experience with various brokerage firms and mentions that he had problems with FX Legacy, including the loss of $2000 from the balance. He is preparing a lawsuit against the company, which indicates serious allegations against the project. Redexmax warns against cooperation with the company, claiming that the company deceives clients. He notes the lack of objective information about the broker on the Internet and suggests that positive reviews may be insincere.
There is not a single argument in favor of cooperation with Legacy FX review The project showed that the brokerage firm was created by scammers in order to swindle gullible novice investors out of their money. If you also suffered at the hands of these scammers, write to us so that experienced chargeback specialists can help you make a refund by forcibly canceling the transaction.
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