LegacyFX claims to be a trusted broker, providing a wide range of products and services for traders worldwide since 2017. Their trading conditions are among the tightest spreads in the market, starting from only 0.5 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.

Is LegacyFx a scam or legit broker?

No, it is not safe to trade with LegacyFX, as it is an offshore company. LegacyFx is a worldwide brand and has a trade mark registry under AN ALL NEW INVESTMENTS (VA) Limited, regulated by the (VFSC) Vanuatu Financial Services Commission under license number 14579.

Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, to pay a fee, and within 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as JustProForex, SmartFX and more.

As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.

We advise all investors and traders to avoid LegacyFx and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

You can also share your trading experience with LegacyFx by commenting on this review. 

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