LegacyFX Review (2023)

1:30 | 1:200
Min Deposit

What is LegacyFX?

LegacyFX is a multi-asset trading specialist providing brokerage services for forex and CFD trading on gold, oil, cryptocurrencies, indices, and major stocks, internationally for traders worldwide since 2017. LegacyFX is GDPR compiled and fully regulated by CySEC, FCA and BaFin, with a main objective to enhance financial transparency and offer greater client protection. Its trading conditions are among the tightest spreads in the market, starting from only 0.6 pips. 

The broker offers more than 200 trading instruments. LegacyFX provides its clients with the MetaTrader 5. Legacy FX gives the keys to access the forex market 24 hours a day, 5 days a week, allowing users to trade the most popular major, minor and exotic currency pairs. For full protection of investment LegacyFX operates negative balance protection along with complete segregation of client funds from company’s assets.

Pros Cons
Broker with good record and establishment under European laws Conditions vary according to brokers’ regulation
Accounts have negative balance protection and segregated from company assets High minimum deposit
Mainstay on customer popular MT5 Does not accept clients from the U.S. or Canada
Swap-free account available for all clients

10 Points Summary
🏢 Headquarters Cyprus
🗺️ Regulation CySEC, FCA, BaFin, VFSC, NBRB
📉 Instruments Shares, Indices, Forex, Commodities and Cryptocurrencies and CFDs
🖥 Platforms MT5
💰 EUR/USD Spread 0.6 pips
🎮 Demo Account Included
💰 Base currencies Several currencies offered
💳 Minimum deposit 500$
📚 Education Video lessons, Trading platform guiding tutorials, Courses, eBooks
☎ Customer Support 24/5

Is LegacyFX safe or a scam?

When it comes to online trading, security is paramount to understanding that your capital is secured and protected by the law and regulations.

Pros Cons
Regulated by several authorities Cyprus CySEC, Financial Conduct Authority FCA International proposal performed with offshore entity
Negative Balance Protection

Is LegacyFX legit?

LegacyFX is a brand name of the A.N All New Investment Limited that is authorized and regulated by the CySEC a regulatory authority for Investment Services firms in Cyprus, along with cross-border licenses due to its European position, authorizing the company to provide investment services within the EEA zone.

In simple words, it means the broker fully establishes its business according to necessary laws and principles of operation, eventually dedicated to protecting clients and enabling market integrity.

Nevertheless, an international proposal running through an additional license in Vanuatu, or AN ALL NEW INVESTMENTS (VA) Limited under the domain https://int.legacyfx.com. The trading conditions here are different and applicable to other laws and regulations. It was always quite risky to trade with offshore zones and we should definitely mention that trading with AN ALL NEW INVESTMENTS (VA) Limited subsidiary is not safe.

However, we always recommend checking on the regulation carefully and never signing in with an only offshore registered brokers (read more why avoid trading with offshore brokers).

How are you protected?

Since the LegacyFX license means its compliance with all the strict regulatory requirements, the trader’s investment is considered to be safe, as the broker completely segregated funds from the operational funds of the LegacyFX while keeping in leading and reputable EU banks.

Also, CySEC regulatory standards are fully aligned with the European MiFID directive that also enables LegacyFX to offer its service within the EEA zone and beyond. The stated objective of MiFID is to participate in building a more integrated, deeper, and more effective generating growth capital market while strengthening the protection of investors. However, this type of regulation does not let LegacyFX offer its services where the broker is NOT regulated.


Leverage, known as a loan given by the broker to the trader enables you to trade through the multiplied volume that may raise your potential gains, yet in reverse increases high risks too. So firstly you should learn how to use tools smartly, also various regulatory standards and restrictions set a particular allowed level of leverage that is considered to be safe.

LegacyFX Reviews shows that brokers’ leverage ratios are set to a standard level allowed for European traders since ESMA significantly restricts the use of leverage for retail traders. Therefore, the maximum level is set to a

  • 1:30 for major currency pairs 
  • The global LegacyFX traders may be still entitled to a higher range of up to 1:200

And of course, always learn how to use leverage smartly in order not to fall under inefficient risks.

Account Opening

Pros Cons
Fast digital account opening Account types and proposal may vary according to jurisdiction
Islamic Account
Demo Account

Account types

There are several account types designed by LegacyFX – Standard, Silver, Gold, Platinum, Bronze, Gold, and Premium. All accounts feature the same competitive trading conditions and available services, while higher grade accounts will add on extra benefits.

The Silver account is available from a minimum deposit of $3 000, with the smallest spread of 1.6 pips. This is reduced to 1.0 pips in the Gold account for a deposit of $5,000. 

Each of the account types brings a particular possibility for your trading strategy while allowing either beginning traders, investors, or professionals to find their own way in trading.

Islamic Account 

The LegacyFX Islamic account adheres to the principles of Islamic law regarding banking activity and Riba (interest). It is an interest-free or swap-free account type, for those who, for religious reasons cannot trade on interest/swap incurring accounts. However, account holders will still enjoy all of the benefits of all the Account Types offered by LegacyFX, their same spreads, and the same trading conditions.

Demo Account

LegacyFX demo accounts allow clients to try out the broker’s services, and platforms and to practice trading strategies risk-free by using virtual funds.


LegacyFX provides access to seamless trading through the great range of 200+ underlying assets, while you may choose from leading Shares, Indices, Forex, Commodities Cryptocurrencies, and CFDs.

Therefore, with access to the most liquid and popular markets, you may choose the desired and most understanding instrument according to your trading need and use BDSwiss user-friendly portal to benefit from trading.


LegacyFX offers some of the lowest dealer spreads in the business, starting at 0.6 pips. 

No rollover fees on long-term positions, negative balance protection, and client funds are separate from LegacyFX’s funds.

Swap Free on all LegacyFX Account Types (Silver, Gold, Platinum). LegacyFX charges no swaps on long-term positions, providing ideal conditions for long-term trading and investment. For full protection of investment, LegacyFX operates negative balance protection along with complete segregation of client funds from the company’s assets.  

Pros Cons
Flexible fee conditions defined by the account type Withdrawal Wire transfer fee
Variable spread

Find on Forex fees

Of course, spreads fees are defined by the account type you use. Variable spreads for major forex pairs such as EUR/USD start at 1.6 pips with the Silver account. Spreads get tighter with the Gold and Platinum accounts, going down to 0.6 pips. Fixed spreads are around 3 pips for EUR/USD with the Silver account.

Deposits and Withdrawals

Another very important part of our LegacyFX review is how to transfer money from or to your trading account. Eventually, all account management happens through an online field while LegacyFX makes it possible to process the transaction via major credit/debit cards, Skrill, Neteller, and Bank Wire Transfer. Payment methods vary depending on the entity you are trading with.

Pros Cons
No deposit fees Conditions vary according to the entity
Fast digital deposits, including Neteller, and Credit Cards High minimum deposit

What is the minimum deposit for LegacyFX?

As for the minimum deposit amount, the Silver account at LegacyFX requires 500$ as a start, while other accounts deploy higher levels of first deposits. The pleasant moment is that LegacyFX does not charge any fees on credit card/electronic wallet deposits as well, yet this may vary from rule to another.


From the moment you submit and confirm the request to withdraw money from your account the accounting department of LegacyFX typically processes and confirms withdrawal within 3 business days.

As for the transfer fees, make sure to check conditions in detail with the payment provider and broker respectively as various jurisdictions may apply different rules due to international policies. Overall, LegacyFX defines no commission for withdrawals via Bank Cards but charges a 50$ fee for Wire Transfer withdrawals.

Trading Platforms

The software solution offered by the LegacyFX mainstays the popular choice of MetaTrader5 platform, which provides a comprehensive trading feature and vast solutions. It is not actually a surprise, as MT5 is a known industry intuitive platform that allows trading anywhere and anytime with advanced charting tools, and indicators to manage the risks with a better possibility to determine price direction.

Pros Cons
User friendly software No trading alternative
Mainstay on MT5
Versions suitable for Web, Mobile and Desktop trading
Supporting numerous languages

Web Platforms

Trade Forex and CFDs with the MetaTrader 5 web platform without installing or downloading any software application. You can trade on the Forex market with any browser and operating system with an internet connection.

Desktop Platform

MetaTrader5 for Desktop is designed to monitor and optimize your entire trading process by offering broad functionality. MetaTrader5 is an institutional multi-asset platform offering outstanding trading possibilities and technical analysis tools. Traders can enjoy the latest version of the most popular trading platform with plenty of cutting-edge features and benefits brought by LegacyFX.

Mobile Platform

LegacyFX Mobile Platform is available on both Android and IOS and allows traders to place eight types of pending orders to get more precise control over open positions. MetaTrader5 supports the trading of cryptocurrencies with a set of new and unique crypto features. Mobile MT5 simplifies the process of opening a new position with a single click and includes additional technical tools, which provide options to choose from over 21 timeframes for charting and nine additional techniques for chart structuring.

Customer Support

Support is available 24-hours, and clients can either send an email, call support, or engage with customer support via a live chat feature. The support staff is fluent in English, Arabic, and Russian. The broker values customers and is happy to answer all general, technical, and account-related questions that you may have. They also appreciate hearing how they can improve the support available to traders.

Pros Cons
Quality customer support Support not available 24/7
Live Chat
Multilingual support


LegacyFX traders can find a variety of video lessons, trading platform guiding tutorials and courses, download full eBooks on a wide range of subjects, and enrich their knowledge in webinars presented by industry experts. On top of that, LegacyFX provides advanced trading tools and analysis and offers daily, weekly, and monthly market research.

The broker also provides:

  • wide range of tutorials and courses covering all levels, from beginners to experienced traders; 
  • live webinars examining main events in the market and analyzing different approaches; 
  • periodical market research and analysis by top financial experts on currency, commodities, stocks, and more;
  • financial trading tools including an economic calendar, glossary, and calculators to support trading.

Pros Cons
Free Demo account None
Advanced education with Webinars, Videos, Economic Calendars
Good range of trading tools
Economic Calendar and Market News


Overall, the LegacyFX review presents a global brokerage company with a well-established customer-oriented operation that provides a secure, as well regulated trading environment suitable for almost every demand.

It appears to be one of the industry’s most promising brokers, established itself as a leader in the retail sector in recent years. LegacyFX is MiFID-compliant and regulated by CySEC, VFSC, and the National Bank of the Republic of Belarus (NBRB). In general, this broker has a clean regulatory record, and its transparency is impeccable.

Besides, the main tool and a very powerful one in the LegacyFX business strategy is – education, which attracts new traders and gives a great opportunity for both parties. And that is apart from its largely established social responsibility and other activities they regularly held.

Nevertheless, let us know your opinion about LegacyFX, share your experience, and do not hesitate to ask for additional information if necessary in the comment area below.


waseem Tahir Says:
At: 1 year ago

I started trade with $2500 and they took my all money with wrong calculations. they are completely fraud company. i had few balance left but they closed my all trade. please please do not use this broker. they are totally fraud. I had balance $120 balance left and i was doing hedging. as soon market close they have raised all loses and automatically closed all my trades. one of his sales guy was pushing me to use them. don’t trap urself with them

kutubdin Says:
At: 1 year ago

your are 100% right

tonyluis Says:
At: 7 months ago
This broker is a scam if only I had read about them before going into trade with them. 😡 they keep telling me to deposit more of my funds.. After I read about them and concluded and decided to reach out to Mrs. HARPER after I read so many reviews on how She has helped a lot of victims. Well, I am glad Mrs. HARPER was able to help me recover my money. You can get in touch with HER on their company mail Email: ( harperjamesplatform @ gmail . com )
Oliver Says:
At: 1 year ago

Absolutely avoid. Long story short – if the traders at legacy were any good at what they do they wouldn’t be chasing after guys with account less than 10k. They would be on a beach, retired and sipping margaritas. Note that when you lose on a trade, the broker gets the money. Their Spreads wider than the grand canyon (1 lot on WTI will cost 100 GBP. This means the trade must move in your direction, be it buy or sell buy 100 GBP before you make a profit).

They promote unsafe trading practices such as giving incentives to trade based on traded lots. This is specifically against UK FCA guidelines for treating customers fairly. Vanatu is useless at helping you as a retail client.

I got involved with Legacy since I was looking for a ‘safe pair of hands’. I had an account with open trades that were placed by a management company and the trades were in 25% draw down with no hope of things turning around. I got in touch with Legacy to see if they could help. They assigned me to one of their advisors, who was very knowledgeable and even demonstrated some impressive techniques in real-time. This gave me the confidence to trust him. All seemed good so far. He gave me a set of signals (trades to place) on a friday afternoon and by monday morning, my account was in 80% drawdown. By the evening I had lost 7k GBP. Apparently that trader was fined 100k USD however I have no proof.

I wrote in to complain and after threatening legal action, they assigned me to a senior trader, who was head of compliance. As a form of settlement, they gave me 1k GBP and the idea was that the senior trader would help replace lost equity and regain their trust. It worked well for a month – and slowly I began to develop trust with the senior trader.

Slowly, the demands started for me to put the word out and quotas started regarding how many people I could get to sign up with Legacy Fx. This was so that it would be ‘worth their time’, ‘you do something for me, I do something for you ‘ etc. I disagreed with about 50% of the trading suggestions but mostly went along with them. I often risked 50% of the equity as stop loss without realising it. The account grew 300% in 2 months and all was going well. I was truly impressed. Then with 2 trades that went very bad very quickly, all was lost in a day. The account hit margin call before it hit the stop loss, which shows how far the stop loss was.

It’s a big boy game, trading. All I can say is learn to trade yourself, find a regulated broker and never accept signals. Develop your own signals, be consistent and risk max 2% per trade.

At: 1 year ago

Can you say legacyfx is a good broker ? If no which one do you consider a good broker ?

tonyluis Says:
At: 7 months ago
This broker is a scam if only I had read about them before going into trade with them. 😡 they keep telling me to deposit more of my funds.. After I read about them and concluded and decided to reach out to Mrs. HARPER after I read so many reviews on how She has helped a lot of victims. Well, I am glad Mrs. HARPER was able to help me recover my money. You can get in touch with HER on their company mail Email: ( harperjamesplatform @ gmail . com )
Jorn Hansen Says:
At: 1 year ago

I open account with only 250us – I always answer fast they dont push me – think they are okay

Admire Marima Says:
At: 1 year ago

how good are they, please help l wantto start trading with

Sophia Says:
At: 1 year ago

How is your trading with Legacy FX? Have you made a profit? Did you withdraw your profit?

Thabo julias Says:
At: 1 year ago

I’ve just registered with them..2weeks back..but don’t how they operate..and I am new in this field..👉

belita mambwe Says:
At: 1 year ago

update us on how your journey goes.

Sick Trader Says:
At: 1 year ago

I was doing very nicely trading currency pairs on my own with no help from these scum. My Account Manager started to tell me he could help me perform even better but he helped me trade in what I know know are high risk strategies. 1. No stop losses BIG DANGER! 2. HEDGING, DANGER you can end up with your whole account hedged and you can’t escape your margin gets close to account funds. Then they widen their spreads and you whole account goes down in SECONDS! I went from $1,100,000 to $200.00 after the market closed. I lost my life savings of $260,000.00 STAY AWAY FROM THESE SCUM.
3. I was trading currency pairs and making superb profits, this Martin Baker Got me Trading Gold, Silver & Oil, which I NEVER TRADE. DANGER!
4. I’ve lost everything! $260,000 STAY AWAY DON’T TRUST THEM.

Daniel Says:
At: 1 year ago

So you traded with legacy FX to get your account up to $1,100,000?

Amin Mohamed Says:
At: 1 year ago

Now I worry, my broker always push me to put much more deposit, i’m the beginner, now i put 2500 usd, but nothing improve from him but he still push me need more deposit. I think is something wrong with this broker. What l know he is senior broker. I really worry right now, what should I do ?

kutubdin Says:
At: 1 year ago

salaam alaikum, don’t trust them big scammer you can’t withdraw your fund, when deposit they happily give wrong signal and make lose your money when you make money they will not let you withdraw be careful!!!

Mariam Says:
At: 1 year ago

I ended up closing my account from them. Their signal was okay, I made 300% of profit. But when I tried to withdraw my money, it was a hell dealing with their Dealing Desk. They will tell you different reasons not to process your withdrawal. It was a very stressfull for me to make follow-ups regarding the withdrawal status. Stay away from them. If you will earn from their signal, high chance that you will not be able to withdraw your earnings including your capital. Very sad.

Kashif Raza Says:
At: 1 year ago

They are also pushing me to open an account with them but I am not comfortable to share my CVV code. As you said they are not helpful in withdrawal so did u take your money back or still facing trouble? Is it convenient to go with Pakistani Banks?

C. B Says:
At: 1 year ago

I put in with this company 470,000 USD and its the same story, started well, open BIG trades with NO STOP loss and it always goes BAD, so they push u for another injection so save the acc, ended up loosing 470k and only withdraw 50k, this was my nightmare for 18 Months, my acc was HEDGE to the hill and i was Negative 1.4mil in Hedge Trdaes, they never protect u, they say it wikl be fine, your equity is plenty, no stress……. well, it was sleepless nights and the weekends was very nervous cause the markets would open up or down and it was always BAD, stay away…. stay far away. Scammers, and talk allot of CRAP.