Broker LegacyFx Review: Analysis and Traders’ Opinion
LegacyFx is a relatively young broker that started its operations in 2017. In a short period of time in the CFD and forex market, LegacyFx has garnered both positive and negative reviews, established its audience, and become competitive. In this review, we will examine whether it is worth collaborating with legacyfx.com and what advantages it offers compared to other brokers.
Overview of Basic Information about LegacyFx
The analysis conducted reveals that LegacyFx’s history actually dates back long before 2017. The broker began its operations in 2012. Despite not gaining immediate widespread recognition, a rebranding took place in 2017.
After the broker transitioned to a new phase, changes were made not only to the corporate style but also to the functional capabilities. Numerous new trading instruments, terminals, educational systems, and analytical sections were introduced. These changes attracted the attention of traders, who began actively opening accounts with LegacyFx.
Web History and Legal Documentation Analysis
Information about LegacyFx on its official website focuses on the benefits of collaboration and trading conditions. However, let’s conduct a check through Whois:
The domain was registered in 2004, but traces of LegacyFx’s activities can be traced back to 2012. Archives show that the site operated steadily from 2012 to the end of 2019, indicating the company’s long-term plans.
According to visitor data, the daily visitor count reaches 1600 people, ensuring the broker’s sufficient profit and long-term stability.
Legal Documentation and Licensing
LegacyFx has developed a series of agreements that clearly describe the terms of cooperation with clients and the process of resolving financial issues. The main page indicates the VFSC regulator from the island nation of Vanuatu. User reviews point out the imperfections of this regulator.
Although the VFSC license is not considered the most reliable, LegacyFx has provided the necessary document package to obtain the license. The regulator is responsible for issuing licenses but not for the company’s actions, which may raise certain questions among clients.
Trading Conditions and Accounts
LegacyFx offers the MT4, MT5, and Sirix platforms for trading. The broker also provides signals and advisors for traders’ convenience. User reviews confirm the usability of the platforms and their functionality.
Traders have the option to choose from three types of accounts: “Silver,” “Gold,” and “Platinum,” each with different conditions. Islamic accounts and demo accounts for beginners are also available.
Deposits and Withdrawals
Various payment methods such as Klarna, Qiwi, Paysafe, and others can be used to fund the deposit. For withdrawals, options include PerfectMoney, Neteller, WebMoney, Skrill, and bank transfers. The minimum withdrawal amount is $200, with a withdrawal fee.
User Reviews
An overview of available data shows that LegacyFx is not a scam project. User reviews, mostly positive, attest to the broker’s quality work. However, each trader should independently decide on collaborating with LegacyFx, considering all risks and opportunities.
Author: Irina Sherbul
I had high hopes for LegacyFx, but unfortunately, it turned out to be a very disappointing experience. Their customer service is a total disaster. They’re slow to respond and when they do, they provide misleading or incomplete information. On top of that, their fees are not transparent. It seemed like I was always getting hit with unexpected costs. The trading platform was also not user-friendly and often had technical issues. Understanding their indicators was a constant struggle due to lack of comprehensive instruction. To make matters worse, withdrawal of funds was a complex process coupled with long waiting periods. Overall, my experience with LegacyFx was incredibly frustrating and I wouldn’t recommend their trading services to anyone.