My name is Thandazani Gumede. The day I will be able to fund my account would be the day I start TRADING with LegacyFx i have joined telegram group by 2020 from Sunny Mason as per mentor I followed th... See more
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See what reviewers are saying
Please do yourself a favour and stay well clear. I have personally lost over £200,000 by following their signals. I stopped following their advice and my account was in a hedge but I still got margin... See more
I have been in Legacy FX free trial community for more than 3 months which they have provided quality free signals that have yielded me some profits. Though some signals tend to hit stop loss, they ha... See more
Company replied
Worst broker ever. They set up extremly high daily holding fees without information before. from 1500usd total a losing more than 100usd every day and i was almost bancrupt during 1month. I cant uders... See more
Company details
Written by the company
As the world becomes more and more global, investors hunt for opportunities anywhere they can. If you want to take a broad opinion and invest in another country (or sell it short!), forex is an easy way to gain exposure while avoiding vagaries such as ...
Contact info
Govant Building, Kumul Highway, 1276, Port Vila, Vanuatu
- +41315087455
- support@LegacyFx.com
- www.legacyfx.com
2.6
Poor
731 reviews
No history of asking for reviews
This company hasn't invited their customers, so reviews may not be representative
Hasn’t replied to negative reviews
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reliable broker
I have been using LegacyFx for several years, and I am always very satisfied. Fast assistance and always punctual transactions. Compliments.
19 February 2023
Unprompted review
Reply from LegacyFX
Hello,
Thank you for Your feedback! We are flattered by Your kind words, and we are even happier that Your trading experience have been positive! Witnessing successful stories like Yours is extremely valuable for us and motivates the LegacyFX team to keep on working tirelessly, upholding the high-quality service standard that we have already established.
We are looking forward to being by Your side on Your way to achieving Your trading goals!
Regards,
The Team of LegacyFX
Not recommended. They keep changing the goal posts
Firstly I’m a pretty busy person who understands how the markets work and how trading Forex works and risks involved. Done lots of education and lots of chart trading course. Unfortunately I don’t have the time to sit in from the of charts and analyse them consistently on a daily basis which is why I went looking for professionals that do.
I first started trading with them via the free Telegram channel. Their trades were good and had a good success rate so I opened an account. I then got mucked around with a bad account manager then sent a ton of loosing trades and despite asking repeatedly for a new account manager I got no-where so I stopped trading. Eventually I got a new manager and then they closed down the telegram pages and say that all recommendations are via the website. Most time these hit SL and drain the account. Their response to me repeatedly requesting the Telegram channels come back is that this is not available and I need to put more money into my account so I can do more technical strategies. I try to keep things pretty simple as in you “BUY” it goes up and make money. You “SELL” it goes down and you make money. It pretty simple. This isn’t options trading.
Unless they bring back the telegram channel I will not use there broker services or trade with them.
8 February 2023
Unprompted review
Reply from LegacyFX
Hello,
We are extremely sorry to hear that You have a negative experience with our broker. Thus, we would like to clarify a few things in the hopes that we would be able to help You.
Throughout the past year and a half our service has evolved. We used to provide promotional trading suggestions, but we swiftly came to the realization that they were not beneficial to the clients as they were placing them blindly without understanding the logic behind the numbers and without considering their suitability for their account sizes. It is of our best interest to satisfy the needs of our traders, but it is also important to provide them with value which would make them better in their venture. This is why we shifted the focus not on trading suggestions but rather on an educational program provided by our team of experienced Senior Account Managers.
Let it be known that trading is a timely process which requires each and every trader’s attention especially when it is done on the short-term. In the process of our educational program Account Managers explain that if clients are short of time and struggle with fundamental and technical analysis basics, they could focus on long-term trading which would enable them to have enough time to reach the needed educational level to feel comfortable for short-term analysis.
Moreover, clients also have access to Trading Central which provides valuable insights for the market. Account Managers are also always available to clarify any misunderstanding about the analysis provided by the tool.
Our mission is not to trade for the clients and/or order them around (as it is strictly prohibited and goes against our regulation), it is to teach them how to be independent and successful trades on their own. LegacyFX is licensed and supervised by reputable organizations one of which is the VFSC with license number 14579. As a regulated broker, the company is not authorized to trade for the clients. Therefore, our main benefit is related to the provision of trading education. You, as a client, have been provided with suggestions and forecasts for the market generated by our analysts. It is Your own decision if You would like to place the positions or not.
We would like to ensure You that Your review is noted, and we would like once again to apologize if You have felt misled in any way. If You have any questions, feel free to reach out to us at support@legacyfx.com.
Our company is always at Your service and would try and improve for the better!
Sincerely,
The team of LegacyFX
LegacyFX are a complete scam of a…
Please do yourself a favour and stay well clear. I have personally lost over £200,000 by following their signals. I stopped following their advice and my account was in a hedge but I still got margin called somehow. These people need to be locked up and prevented from ruining peoples lives.
3 February 2023
Unprompted review
i keep asking myself and wondering…
i keep asking myself and wondering what happened to the legacy team on telegram...i was proud of you guys until you stopped rendering your service on telegram.....people are getting scammed through the company name please come back and take charge.
Philip
Dante smith
where are you guys? the whole Africa was pushed by your works guys i made them believe and they did we miss you guys. Mr head of Marketing please bring back the team on board lets make some money.
1 June 2022
Unprompted review
Reply from LegacyFX
Hello Rodney,
We are thankful that You took the time and left us Your feedback. It is crucial for us to know what clients like and dislike about our service so we could improve. After all, we strive to be as beneficial as possible.
In our many years of working with beginner and more advanced traders we estimated that the Telegram groups we used to provide as a service were not beneficial as clients were placing positions blindly without understanding the logic behind the numbers. So, we concluded that we could undertake a different approach. We decided to focus on a service tailored towards trading education. All our clients, whose accounts comply with the required rules for an ‘active’ account, receive educational sessions from our team of professional and experienced Senior Account Managers. This way traders could make their own trading decisions and have understanding as to how to read the market and to react to its unpredictable movements.
I hope that You would not give up on trading and You would continue pursuing Your goals!
If You have any additional questions, You can always contact our Support Department at support@legacyfx.com.
LegacyFX is always at Your service!
Regards,
The team of LegacyFX
Ex-LegacyFX Trader
I'm a former LegacyFX customer, please stay away from this company they are not interested in helping you make money - instead they will offer you poor advice and signals which means you'll either need to put more money into their platform or lose everything you put in.
There are 2 companies - LegacyFX which is regulated in Cyprus AND an offshore arm called AN All New Investments which they never talk about or advertise and its regulated in Vanuatu - I'm from UK and i should have had an account in Cyprus but they didnt give me a choice when i signed up - so when they stole my money i had no protection.
These guys advertise how they are interested in your education but they are not - trust me you will lose your money if you go with this company - just look at thier 1 star reviews, they all say the same thing how poor advice, poor signals and no stop losses led to people losing thier money.
I asked this company for all my call recordings under GDRP - they didn't even bother responding - just goes to show how unprofessional this company is.
I ended up getting a 3rd of my money back from these crooks after persistence and threat of legal action so if you've lost money - don't give up!
16 November 2022
Unprompted review
Legacy esp Damian is fantastic
Legacy and esp Damian is fantastic! They were very particular about compliance stuff. But even then the setting up was very easy.
Damian then guided me through the trading very patiently. His help was invaluable. He was fantastic! I don’t think my trading experience would have been that good if Damian was not my Guru!! I will highly recommend Legacy to anyone contemplating Futures trading.
10 October 2022
Unprompted review
Reply from LegacyFX
Hello Shiv,
We are happy to see that you find our service so beneficial. Our team of professional and experienced Account Managers are always ready to assist all aspiring traders in their new endeavors. We would do everything possible to continue providing the best possible service and support to our clients. With feedback like yours, we know that our efforts are worth it!
Keep up the good work so you can achieve all your goals!
Regards,
The team of LegacyFX
LegacyFX is the Best
Im very happy for joining legacyFX is wonderful and amazing financial institution as a newbie i have turn to pro within a week because of good manager attached to me in person of Kyle Shultz he is very nice and patient to teach me everything
4 November 2022
Unprompted review
Reply from LegacyFX
Hello Abdullahi Abubakar,
Thank you for taking the time to share your opinion with us. It is extremely important for our organization to know how our clients feel as we always try to improve the quality of our service.
Your kind words are an accurate depiction of our mission – to get beginners and make polished traders out of them through our educational courses with our team of professional and experienced Senior Account Managers.
Keep up the good work so you could achieve all your goals!
Regards,
The team of LegacyFX
they were very helpful
they were very helpful when i asked questions. if they didn't know something they asked their colleagues and got back to me. I have learned a lot about trading since i started 2 years ago. I did lose a bit now they are helping me to gain what i have lost.. I like that I can talk to someone daily.
2 November 2022
Unprompted review
Reply from LegacyFX
Dear Matrona Frolov,
Thank you so much for taking the time to leave us a rating. Our team strives to improve the quality of our services and client satisfaction. Therefore, your feedback is of great importance to us.
Our dedicated professionals will give you all the needed attention and answer all your questions regarding trading, how to use the platform, conditions, and technicalities. Additionally, our representatives will grant you access and explain how to read the analysis of the Trading central - implemented on our webpage.
Keep up the good work so that you can achieve all your goals!
Sincerely,
The team of LegacyFX
I have been trading with legacyfx for…
I have been trading with legacyfx for more than a year
I have had the best training from my account manager Damian,He provides the best guidance in setting up trades
I continue to make regular profits and I have introduced my friends to the company
3 November 2022
Unprompted review
Reply from LegacyFX
Hello Debashis Ghosh,
Thank You for the support! Your kind words and valuable feedback are greatly appreciated! We are glad that Your experience with LegacyFX has been going well and we hope that our continuous support will keep working in Your favor in the future! We will keep working hard towards providing You with the most relevant resources.
We sincerely wish You a lot of success! Enjoy Your trading adventure with LegacyFX!
Regards,
The Team of LegacyFX
Gold spread standard account is 106 and…
Gold spread standard account is 106 and eurusd spread 68 and bitcoin spread 210 these guys telegram channels are fake don't deposit any capital in this broker all cheaters in this LEGACYFX
FINALLY WASTE DON'T TOUCH
2 November 2022
Unprompted review
Reply from LegacyFX
Hello Ravindra Pokala,
We are sorry to hear that you were one of the few people who did not find our service beneficial to their trading journey. You have made two very accusatory statements and we would like to provide further elaborations about both.
The first one is related to the size of the spread used while trading. Let it be known that when a client registers into LegacyFX they agree upon the terms and conditions where the spreads are exported in detail in several tables depending on the different asset types. Furthermore, this is an excerpt from the information clients agree with when registering with a direct link to the tables mentioned above: ‘24.2. Spread is the gap between the bid and the ask prices of a security or asset. 24.2.1. Specific parameters on spread amounts per differentiating instruments can be found on the Website’s page entitled “Trading Conditions”.’ Moreover, different account types offer different levels of spread, therefore the bigger the account’s capital the more favorable the spread. We value transparency this is why that information is available to all clients, even the ones who do not have an active registration.
The second thing that concerned you was the legitimacy of the Telegram channels we used to work with. After reconstruction in the service functioning, we have decided to remove all Personal Telegram channels all agents used to have and replace them with 1 on 1 educational session approach, where each client could learn how to read market analysis provided by one of our valued instruments, namely Trading Central. We did that because we understood that clients were trading blindly, with the information provided in the channels but they were not understanding the meaning of their actions. We value education, therefore, we have decided to pursue a more personal approach so we could be sure that each and every client is aware of their actions in any situation that may occur on the market.
We are once again sorry to hear about your experience, but we hope that it would not make you depart from your way to success!
Regards,
The team of LegacyFX
Withdrawal Success
I made a withdrawal on my Legacy Account. Received my funds after 2 days.
21 October 2022
Unprompted review
Reply from LegacyFX
Hello Julandes Barendse,
We are so happy that you decided to share your experience with us and even happier to see that it has been a positive one. We hope that you would continue working with us, and you would make use of all the benefits we have to offer.
Keep up the good work so you could achieve all your goals!
Regards,
The team of LegacyFX
ALARM, BE CAREFUL, RUN AWAY
Before you burn your money with this company, you have to check their Address which the moon is nearer than this office, their licenses is very weak, their account manager’s names are totally fake, many time I contacted this company to complain about my account manager but NO WAY they kept covering their „scammer“ „Shadi Abdullah“ account manager.
Be away from this company.
31 August 2022
Unprompted review
Reply from LegacyFX
Hello M von Eschwege,
We are very sorry that You had a negative experience with our company. Here, at LegacyFX, we are constantly striving to provide the best possible services to all of our clients and it is unfortunate that You did not manage to find our efforts beneficial enough for Your trading journey. However, there are a few points in Your statement that we would like to clear.
One of the core values of our company is transparency, therefore we have provided all the nessecery information that our clients are entitled to know on our website, including our full address as written under the ''Contact us'' section of our website as well as information about our Regulation from Vanuatu Financial ServicesCommissions (VFSC) including our license number. You could always go and consult our website for further clarification if needed.
Also, we could not look past an accusatory statement from You which could simply be considered as ''speculation'' with no further elaboration or given clarification, therefore a lack of weight to Your words. It saddens us that despite our best attempts to stay as professional as we could ever be in our communication with every single one of our clients, we are still facing such negative responses and a lack of a good tone and dialogue.
We are all about growing and developing our company and our services and we would not be happier if we are able to turn constructive criticism given by our clients into a positive change to further improve ourselves and our company.
Despite all said above, we are still glad that You were part of our family and we are sad to see You did not manage to take advantage of all we are offering to assist You in navigating the stormy, but rich and exciting ocean that is the financial market.
We are once again sorry for the bad experience You, unfortunately, had with our company but we strongly believe You will find success somewhere else.
Best regards,
The LegacyFX team
It needs actually no stars
It needs actually no stars , they are there to ruin people life, make promises they can't keep then just brush you off to struggle on your own , people of the world legacy fx lost all my life savings by promising I can buy a house soon , legacy fx is a bad company and push people to commit suicide , please take care of your money and is there anyone out there that can help me plse.
14 October 2022
Unprompted review
Reply from LegacyFX
Hello Lester,
Your feedback is taken into consideration. We are sorry that You have had a negative experience on the market. Clearly, we hope that all our clients are successful, and it is one of our fundamental values to provide you with the best resources contributing to Your trading.
We genuinely sympathize with Your case. Our representatives have been trying to get in touch with You, so we can understand more about the situation and hopefully find a resolution. We encourage You to contact us. You are always welcome to get in touch directly though our official communication channels.
Our company is always at your service!
Regards,
The Team of LegacyFX
Awful experience with legacyfx
Awful experience with legacyfx. Hopefully this review can help others stay away from this broker and avoid same situation that I experienced. Awful trade suggestions throughout the whole time. Asked to get specific help with regards to my open running trades and how best to manage them and not once did i get the support requested. No help from account manager and when they eventually do reply it was not support that was requested but another idea to open further trades which made drawdown worse. The only response is to deposit more money and they will tell you safe mode is a great option but tried that using the account manager idea and it was gone within one trade. Crazy spreads at times for some pairs. When I try to withdraw they held it up for weeks by requesting me to send documents to verify my account even though i had done it a number of times previous. Really awful experience from start to finish and they don't care once you get in drawdown you are on your own. Avoid at all costs
1 October 2022
Reply from LegacyFX
Hello Eoin O Riordan,
Thank You for Your feedback! We appreciate and take into consideration everything that reaches us in efforts to improve our services. We take Your words to heart and as what You have shared is serious, we would like to address the issues, be it briefly, with this response.
А main objective of our company is to teach our clients the fundamentals of trading so they could become educated independent traders on their own. Our account managers provide our clients with a vast array of resources amongst which are analysis, educational materials, trading strategies. We believe that everyone who gets involved in trading on the financial markets is aware that the environment is highly unpredictable and volatile. Unfortunately, this may lead to losses, some of which can be quite difficult to handle.
As for the issue regarding the spread: at our company, we always strive to be transparent with our clients, and our Terms&Conditions can be found on the website, including the spread levels.
We completely understand Your disappointment with the situation, and we would like to apologize if You have felt mistreated in any way. We genuinely sympathize with Your case and hope that we have clarified at least to some extent the situation.
We encourage You to contact us for further assistance and information if such is needed. Our company is always at your service!
Regards,
The Team of LegacyFX
Reply from LegacyFX
Hello Sam Chishti,
Thank you for your feedback. We appreciate all our clients for their honest feedback.
We are happy that you enjoyed our platform and webinars.
We hope to continue to meet your expectations in the future!
Best wishes,
LegacyFX team
Am Gudoi joel/legacy fx member/really…
Am Gudoi joel/legacy fx member/really betis number one fun
I take this opportunity to thank legacyfx-compliant department
For the good customer service ever you provide to your client
I also take this opportunity to thank Mr Matthias Slawecki
For his kindness and always being there when ever there is need
And i thank you to keep the good spirit
My God bless you all
23 September 2022
Unprompted review
Reply from LegacyFX
Hello Joel Nagain!
We would like to thank you for choosing LegacyFX and taking out the time to leave your feedback. When we read reviews like yours it means that our efforts are worth it! We will do our best to make your trading journey as smooth and easy as possible. And yes - we have real treasures in our team!
Together we lead - united by success!
Sincerely,
The LegacyFX team
Appreciation
Very helpful for beginner traders also user friendly . As a beginner trader I've had a great experience with services provided and this has helped me to grow as a trader .personally I have picked up a lot from this and I'm very thankful .
22 September 2022
Unprompted review
Reply from LegacyFX
Dear Gift Kangwa,
Thank you for being part of our team and thank you for taking the time to leave us a rating. Your opinion matters to us as we strive to improve the quality of our services.
LegacyFX is one of the few full-education specialized companies providing one on one sessions suitable for beginners. Our team of professionals is working closely with the clients, teaching them how to use the platform, how to set up trades, how to analyze the market, and how to use the many tools and instruments we have.
Years of professional experience in the financial markets have positioned LegacyFX as one of the industry's most trusted and transparent brokers.
Keep up the good work so that you can achieve all your dreams!
Sincerely,
The team of LegacyFX
Intentionally misleads its own clients
UPDATE: Legacy FX tried to have this review removed by claiming it was defamation. After providing TrustPilot with documents and information that verified everything in my review, you can see that not only is the review still here, it has now been confirmed as verified by TrustPilot.
When Legacy FX resorts to making false defamation claims to try to get negative but true information removed, it certainly raises the question about what these people are really doing, and how many others have been ripped off by them
LegacyFX appears to intentionally mislead its own clients, creating a confusing mix of company names and locations and often not making it clear to their own clients where their accounts are actually registered. There is a licensed and regulated firm in Cyprus that uses the name LegacyFX. The registered name of this company is "A.N. Allnew Investments Ltd". The license from CySec is recognized in the EU and (for a time) had limited passport rights in the UK as well. There is another company in Vanuatu that also uses the name LegacyFX. The registered name of the Vanuatu company is "AN ALL NEW INVESTMENTS (VA) Ltd.". These companies are owned by the same people, but these are not just different office locations of the same company. These are fully separate companies, each with their own licensing and regulatory rules. The reason for the very similar names seems to be to make it intentionally difficult for a client or a bank to be able to know which company they are even dealing with.
Most of the adverts seen about LegacyFX in the EU tout their being a CySec regulated company. In reality, when people register they are often registered with the company in Vanuatu. The Vanuatu company, which is registered as an International Business in Vanuatu is not even a brokerage or investment firm!. In their own corporate documents, there is a section that specifically lists the activities this company is restricted from carrying out. Among the restricted activities, it states:
"The Company, being an international company shall not - make any invitation to the public to deposit money with or lend money to the Company".
Last time I checked, in order to use the services of an investment firm, one must deposit money with the firm. The very service this Vanuatu company claims to provide, namely that of being an investment firm which solicits its clients to deposit funds with them, is clearly stated in their own corporate documents to be an activity they are restricted from doing.
Unfortunately, the misleading information they put out does not stop there. When one makes a deposit using a card, the merchant of record that receives the payment is often the licensed firm in Cyprus. Bank transfers are also usually directed to be made to the firm in Cyprus. Having a CySec licensed firm listed as the recipient gives the appearance that one is dealing with a legitimate firm, when in reality that is not what is happening. For most people, if your bank suddenly sees card charges or transfers to Vanuatu, there are likely all sorts of security or risk warnings that would be triggered. To avoid that, the Cyprus firm acts as the "face" of the company in regard to receiving payment. The problem with that (aside from the fact that it seems to be a textbook example of money laundering) is that the Cyprus firm is not a payment processor and no authorisation is requested or given by clients to authorise them to transfer money to a third party.
Almost done, and here is where things get even more interesting. I contacted the firm in Cyprus about issues with the account. Since they were listed as the recipient of my payments, they are obviously the company to contact, right? According to the Cypriot firm, they claim that they have never received any payments from me at all. There are bank records that prove that to be a lie, and they still refused to address the issue. The Cyprus company then shared the details of my complaint (without my permission and in violation of privacy laws) with the company in Vanuatu. No real resolution was ever proposed, nor has either company explained why they are apparently laundering money for each other.
There is clear evidence and documentation about everything that was done wrong here, professionally, ethically, regulation wise and possibly from a criminal angle as well. The media tends to move somewhat slowly on stories like this and I would hope to be able to update this review with more positive news in regard to reaching a fair resolution with LegacyFX. In the interim, if you are thinking of working with this company, please be very careful.
If you've made it all the way to the end, thanks for reading!
22 September 2022
Legacy fx is so amazing
Legacy fx is so amazing, is like a miracle from the Lord. It's making lot of profits I've never imagine. I can't believe finally I got a breakthrough for me and my family after 10 years of suffering. I really like to thank you guys, you GOD sent into our lives. Now I see my destiny. I would like also to thank these guys, Mattias Slawecki and Josh Parell. Guys the way you are so patient on me, answering every question I would just trow on you guys, the updates. You are really professional. Big ups guys, I wish one to meet you.
21 September 2022
Unprompted review
Reply from LegacyFX
Hello Mthetho Matshisi,
We are flattered by your kind words and extremely happy to hear that Your trading experience have been going smoothly!
At LegacyFX we strive to be a game-changing brokerage on the market, providing the best service possible through a variety of constantly developing tools accessible to our clients. We are especially proud of our team of experience Account Managers who work tirelessly to support and guide the traders on their way to success. We are very happy that You managed to use all of our benefits to the fullest and become a skilled player on the financial market!
Thank You once again for the feedback! We wish you success in all Your trading endeavors!
Regards,
The Team of LegacyFX
Legacy fx is the best broker I have…
Legacy fx is the best broker I have ever used.The education provided is ver great and I like it.i just started trading with real account yesterday and I'm already making wonders with signals and education they provide to us.i also believe that surely but slowly I will make it with the help of legacy fx.Otherwise everything is good 👍.
7 March 2022
Unprompted review
Reply from LegacyFX
Hello Thabo Peu,
Your kind words and valuable feedback are greatly appreciated! We are glad that Your experience with LegacyFX has been going well and we hope that our continuous support will keep working in Your favor in the future! We will keep working hard towards providing You with the most relevant resources. Our amazing account managers are always at your disposal, ready to support you on your trading journey!
We sincerely wish You a lot of success! Enjoy Your trading adventure with LegacyFX!
Regards,
The Team of LegacyFX
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