LegacyFX: trader reviews about the broker

Most fraudulent companies turn out to be one-day wonders. In a short period of time, they manage to deceive quite a few traders, after which they disappear from sight and reappear under a new brand. However, LegacyFX has been operating in the financial markets for many years and has no intention of shutting down, despite a pool of negative reviews. From the review, you will learn why this intermediary is classified as a scammer and what indicates second-rate service.

Domain check via whois

LegacyFX has a multilingual website, but no matter how many times you click the button to switch to Russian, nothing happens. According to the legend, the broker started operating in 2017 and has received numerous prestigious awards during its existence. However, the organization’s work experience is highly questionable. Checking the domain legacyfx.eu via whois yielded no results as the site is closed from indexing. This happens when the project’s authors want to conceal important facts.

There is no information about the platform’s creators, and the contact details turned out to be fake upon verification. In reviews, traders note that it is difficult to reach support with technical or financial problems.

Organization employees only stay in touch until they lose interest in the trader’s money.

Here’s something interesting. The website legacyfx.eu belongs to the company AN ALL NEW INVESTMENTS (VA) Limited. Several other domains are also associated with it – legacyfx.eu, legacyfx.com, legacyfx.by. All of them have already been blocked by Roskomnadzor due to suspected fraudulent activities.

Regulated broker or not?

The LegacyFX brand is managed by the offshore company AN ALL NEW INVESTMENTS (VA) Limited. According to the legend, it is registered in Vanuatu. The platform even provides a link to check the license number. However, the local regulator’s website did not show any information about this financial agent.

The broker’s relationship with the Central Bank of the Russian Federation is also strained. The main regulator of the Russian Federation has recognized it as fraudulent and included it in its blacklist.

However, the abundance of reviews in the Russian-speaking segment of the Internet indicates that many newcomers ignore the supervisory authority’s warnings and continue to register on the platform of this scam broker. Scammers target newcomers who are not familiar with legal intricacies and believe in tales of fabulous income.

Commercial offer

For trading, LegacyFX provides a wide range of instruments – CFDs on currency pairs, indices, cryptocurrencies, stocks, metals, and commodities. Beginners are promised a quality educational base and qualified support from a personal manager and support team. The financial agent does not allow practicing without financial risks. Immediately after registration, the platform requires depositing funds, for which you need to choose a tariff plan:

Standard – $500,
Bronze – $1000,
Silver – $3,000,
Gold – $5,000,
Platinum – $10,000,
Premium – $25,000,
VIP – $50,000.

The organization does not specify the leverage and spreads for each account type. Instead, it makes promises about no commissions, daily signals, participation in the Trading Academy, live support, and more. The tariff plans differ in the number of protected deals (as an alternative to a demo account), advanced mentoring, trading plans, platinum sessions, and other unnecessary features aimed at confusing newcomers.

Real client reviews

Considering that the fraudulent broker has been operating for four years, there are plenty of reviews about it online. 99% of them have a negative tone:

The company tried to improve its reputation by ordering positive reviews. However, real clients quickly exposed them and shared their experiences on independent review platforms.

How scammers deceive?

LegacyFX is another pseudo-broker that aims to squeeze every last penny out of newcomers’ wallets and then rebrand. The platform is focused on long-term play, but its scam methods are straightforward. When registering Russian traders, they are automatically redirected to the site int.legacyfx.com, which is already blacklisted by the Central Bank of the Russian Federation.

After creating an account, users are advised to start trading with a minimum deposit. Scammers promise qualified support and persuade users to install remote access software. Allegedly, this software makes it easier to train novice traders and contribute to capital growth. However, in reality, scammers gain unrestricted access to the victim’s personal account and online banking. They empty the user’s wallet and then disappear. For scammers, this is standard practice.

Review results

LegacyFX is a scammer with experience. Scammers don’t talk about their offshore registration for no reason. Vanuatu has weak legislation, allowing fraudsters to deceive newcomers and evade law enforcement. The platform has created numerous websites to avoid being blocked and continues to operate under its brand for the fourth year. Be cautious, as they will try to empty your wallet down to the last penny!

If you have dealt with the company and want to share your experience, leave reviews below our article in a special form. Feedback from real clients is what users pay attention to when choosing a broker. You can help others avoid participating in the LegacyFX scam.