LegacyFX Broker Review

Legacyfx 2025 Review: Everything You Need to Know

Legacyfx has garnered attention in the forex trading community, with reviews revealing a mixed bag of user experiences and expert opinions. Overall, while the broker offers a range of trading instruments and educational resources, concerns about high minimum deposits and variable user experiences have emerged. Notably, it operates under multiple regulatory entities, which can lead to differing experiences based on a trader's location.

Note: It is essential to consider the different entities under which Legacyfx operates, as this can impact user experience and regulatory protections. This review aims to provide a balanced assessment based on various sources to ensure fairness and accuracy.

Ratings Overview

Category	Rating (out of 10)
Account Conditions	6
Tools and Resources	7
Customer Service & Support	6
Trading Setup (Experience)	6
Trustworthiness	5
User Experience	6
Educational Resources	7

How We Rated the Broker: Ratings are based on information gathered from various reviews and user feedback.

Broker Overview

Founded in 2012, Legacyfx is a brokerage firm that operates under the brand name of A.N. All New Investments Ltd. The broker is primarily regulated by the Cyprus Securities and Exchange Commission (CySEC) and holds additional licenses from the Vanuatu Financial Services Commission (VFSC) and the Financial Conduct Authority (FCA) in the UK. Legacyfx provides access to the popular MetaTrader 5 (MT5) platform, allowing users to trade a diverse range of assets, including forex, commodities, indices, stocks, and cryptocurrencies.

Detailed Analysis

Regulated Geographical Areas:

Legacyfx operates under multiple regulatory authorities, including CySEC and VFSC. However, it is important to note that the VFSC is considered a lower-tier regulator, which may raise concerns about the level of investor protection offered.

Deposit/Withdrawal Currencies:

Legacyfx accepts deposits in several currencies, including USD, EUR, and GBP. The minimum deposit requirement is set at $500 for standard accounts, which some users have found to be relatively high compared to other brokers.

Bonuses/Promotions:

Legacyfx does not appear to offer significant bonuses or promotions, which may be a drawback for traders looking for additional incentives.

Asset Classes Available for Trading:

The broker provides a wide variety of trading instruments, including 41 forex pairs, commodities, indices, and cryptocurrencies. However, the total number of available instruments is reported to be around 425, which is below the industry average.

Costs (Spreads, Fees, Commissions):

Spreads at Legacyfx can be higher than those offered by competitors, with reports indicating a minimum spread of 1.6 pips for standard accounts. The broker does not charge commissions on most trades, which can be advantageous for frequent traders. However, the lack of transparency regarding average spreads has been noted as a concern.

Leverage:

Legacyfx offers leverage of up to 1:200, which is competitive compared to many brokers. This can enhance trading opportunities, but it also increases risk.

Trading Platforms Allowed:

Legacyfx exclusively offers the MT5 platform, which is known for its advanced features and user-friendly interface. However, the absence of the widely used MetaTrader 4 (MT4) platform may deter some traders who prefer it.

Restricted Regions:

Legacyfx does not accept clients from certain regions, including the United States and Canada. This limitation may affect potential traders looking to open accounts.

Available Customer Service Languages:

The broker provides customer support in multiple languages, including English, Arabic, Spanish, German, and Russian. However, support is not available 24/7, which can be a disadvantage for traders needing assistance outside of regular hours.

Repeated Ratings Overview

Category	Rating (out of 10)
Account Conditions	6
Tools and Resources	7
Customer Service & Support	6
Trading Setup (Experience)	6
Trustworthiness	5
User Experience	6
Educational Resources	7

Detailed Breakdown

• Account Conditions:

  Legacyfx offers several account types, including standard, bronze, silver, gold, platinum, and VIP accounts. The minimum deposit for a standard account is $500, which is considered high by some users. The conditions vary significantly across account types, with higher-tier accounts offering better spreads and features.

• Tools and Resources:

  The broker provides a decent range of educational materials, including webinars and video tutorials. However, many users have pointed out that the written content lacks depth. The availability of the Autochartist plugin is a positive feature that can aid traders in making informed decisions.

• Customer Service & Support:

  Customer support has received mixed reviews, with some users praising its responsiveness while others have reported difficulties in obtaining help. The support is available during limited hours, which may not suit all traders.

• Trading Setup (Experience):

  Users have reported varied experiences when trading with Legacyfx. Some have highlighted the ease of use of the MT5 platform, while others have expressed concerns about high spreads and execution issues during volatile market conditions.

• Trustworthiness:

  While Legacyfx is regulated by CySEC, the presence of a lower-tier regulator like VFSC raises questions about the overall trustworthiness of the broker. Additionally, there have been numerous complaints regarding withdrawal issues and customer service experiences, which may impact user confidence.

• User Experience:

  Overall, user experiences seem to vary widely. Some traders appreciate the educational offerings and trading tools, while others have reported significant issues with account management and support.

• Educational Resources:

  Legacyfx offers a variety of educational resources, including video tutorials and webinars. However, the lack of detailed written materials has been noted as a downside, particularly for traders who prefer reading over watching videos.

In conclusion, while Legacyfx presents a range of features and tools that can benefit traders, potential clients should approach with caution, especially considering the mixed reviews and regulatory concerns. It's advisable for traders to thoroughly research and consider their personal trading needs before deciding to engage with Legacyfx.