At a glance
- Minimum deposit
- $500
- Platforms
- MetaTrader 5
- Regulators
- FSC
- Leverage
- 200
Our Verdict on LegacyFX
3.7/5Overall score
Risk warning: CFDs and leveraged trading can result in rapid losses. You may lose some or all of the money you put at risk.
LegacyFX is a conditional fit for traders who want MT5 across desktop, web and mobile and are comfortable trading several CFD markets. Its platform supports automated strategies, and the broker also lists copy trading and educational resources. The main trade-offs are uneven account-tier minimums, including substantial funding requirements, and uncertainty over the authorisation claimed for its international entity. The agreement names a Vanuatu company, but the stated VFSC licence remains unverified. The entity and account terms are therefore central to deciding whether LegacyFX is suitable; the relevant protections are set out below.
| Best for | MT5 traders seeking access to several CFD markets and platform-based tools. |
|---|---|
| Not ideal for | Traders who require independently verified authorisation or a particular investor-compensation arrangement. |
| Biggest strength | MT5 access across desktop, web and mobile, alongside several listed CFD markets. |
| Main drawback | The current status of the VFSC authorisation claimed for the international entity is unverified, and account minimums vary by tier. |
How we reviewed it: This review assesses the stated account, platform, pricing, market and legal-entity details and distinguishes broker claims from verified authorisation. It does not report first-hand trading or withdrawal tests. See our review methodology.
What stands out
- MT5 is offered across desktop, web and mobile.
- The listed markets include forex, indices, commodities, stocks, cryptocurrencies and ETPs.
- MT5 supports Expert Advisors and a built-in Strategy Tester.
- LegacyFX lists webinars, eBooks, platform tutorials and market-research tools.
What to consider
- The current status of VFSC licence 14579, claimed for the international entity, is unverified.
- Account-tier minimums vary, and some require substantial deposits.
- Stock CFDs may carry a commission, and overnight positions can incur financing charges.
LegacyFX at a Glance
| Feature | Broker disclosures and checked findings |
|---|---|
| Founded | 2017 |
| Regulator / licence | A.N. All New Investments (VA) Limited’s agreement claims VFSC licence 14579; current authorisation is unverified. |
| Minimum initial deposit | $500 |
| Account types | Standard, Bronze, Silver, Gold, Platinum, Premium and VIP |
| Trading platforms | MetaTrader 5 (MT5) |
| Markets | Forex, indices, commodities, stocks, cryptocurrencies and ETPs |
| Maximum leverage | Up to 1:200 for forex, subject to jurisdiction, account and asset |
| Account / funding currencies | USD, EUR and GBP |
| Demo account | Yes |
Is LegacyFX Safe, Legit and Regulated?
3.6/5Area score
Overall review score: 3.7
The international client agreement names A.N. All New Investments (VA) Limited and claims authorisation by the Vanuatu Financial Services Commission (VFSC), licence 14579; the current status of that authorisation is unverified. CySEC licence 344/17 belongs to Foris Capital CY Ltd, not LegacyFX. The agreement and the protections attached to the contracting entity—not the LegacyFX brand alone—determine which safeguards apply.
Regulation and Client Protections
| Regulatory question | Documented finding and limitations |
|---|---|
| Contracting legal entities | A.N. All New Investments (VA) Limited (International / Vanuatu entity named in broker agreement) |
| Regulators / jurisdictions | Vanuatu Financial Services Commission (VFSC; claimed in broker agreement) (International / Vanuatu entity named in broker agreement) |
| Licence / registration | Vanuatu Financial Services Commission (VFSC; claimed in broker agreement): 14579 (broker-document claim; current VFSC authorisation unverified) |
| Client-money arrangements | LegacyFX states that it segregates client funds. The protections depend on the contracting entity. |
| Negative balance protection | LegacyFX states that it provides negative balance protection; confirm the terms applicable to your entity and account. |
| Investor compensation | Rights depend on the legal entity and eligibility. The international entity’s stated safeguards do not include an external compensation fund. |
Segregation separates client money from a firm's operating funds; negative balance protection is intended to prevent a client from owing more than the account balance. Neither removes trading risk or establishes entitlement to compensation. Any European compensation rights relate to eligible claims against covered firms and should not be assumed for every account using the LegacyFX brand.
LegacyFX Fees, Spreads and Commissions
3.3/5Area score
Overall review score: 3.7
LegacyFX’s trading costs combine spreads with instrument- and account-dependent charges. The broker describes most forex, commodity and CFD trading as commission-free, while stock CFDs may carry a commission. Stated average spreads are 1.6 pips on EUR/USD and 1.5 pips on GBP/USD, but these do not establish the spread available on a particular account or at a particular time. Financing can also affect the cost of keeping positions open.
Spreads, Commissions and Total Trading Costs
The pricing model is tier-based, and the account records do not establish a verified current EUR/USD spread for each tier. For trades without a separate dealing commission, the spread remains a cost on entry and exit; stock CFD traders should also account for any applicable commission. Short-term traders should consider spread costs and possible slippage, while those holding positions overnight need to account for financing charges.
Other Trading and Non-Trading Fees
| Fee | Amount / trigger | Conditions |
|---|---|---|
| Overnight financing, swap or margin interest | No | No standard overnight swap fee is listed; product or account exceptions may apply |
| Currency conversion | No | No separate broker currency-conversion fee is listed; exchange-rate costs may still apply |
| Inactivity | LegacyFX charges $10 (or base-currency equivalent) per month following 90 straight days without any trades. | LegacyFX charges $10 (or base-currency equivalent) per month following 90 straight days without any trades. |
| Deposits / withdrawals | Deposit: No; Withdrawal: No | Deposit: No general broker deposit fee is listed (method-specific or third-party charges may apply); Withdrawal: LegacyFX states in its Mauritius FAQ that it charges no broker deposit or withdrawal fee. Bank and intermediary charges, and any applicable promotion-specific withdrawal terms, are separate. |
Inactivity terms differ between the international-account information and the stated $10 monthly charge after 90 days, so confirm which applies to your account. LegacyFX says it does not charge deposit fees and generally does not charge withdrawal fees; banks or payment providers may impose their own charges, and conversion costs may be reflected in the rate used.
Which LegacyFX Account Should You Choose?
4.0/5Area score
Overall review score: 3.7
LegacyFX lists seven tiers, but the available account records do not consistently establish the minimums for every one. They identify $500 for Silver, $5,000 for Gold and $25,000 for Premium; the minimums for Standard, Bronze, Platinum and VIP are unclear. Since the pricing model is tier-based and specific current spreads are not established, the deposit threshold alone does not show which tier offers better value. Confirm the entry amount and spread schedule with the entity that will hold the account before choosing.
LegacyFX Trading Platforms
4.0/5Area score
Overall review score: 3.7
MT5 is available on desktop, web and mobile, so traders can use the same platform across devices. Its Expert Advisors and Strategy Tester support automated strategies, but bot development, testing and operation require the desktop terminal or a VPS. LegacyFX provides neither its own VPS hosting nor direct API connectivity, which limits options for traders who need broker-hosted automation or API-based execution.
Desktop, Web and Trading Platforms
| Platform | Availability | Evidence-backed strength or limitation |
|---|---|---|
| MetaTrader 5 | Web, Desktop, Mobile | MT5 supports MQL5 Expert Advisors and a built-in Strategy Tester. You can trade across devices, but developing, testing and running bots requires the desktop terminal or a VPS. |
Markets and Instruments Available
3.9/5Area score
Overall review score: 3.7
LegacyFX lists leveraged exposure to forex, indices, commodities, stocks, cryptocurrencies and ETPs through CFDs or rolling spot contracts. These products track price movements rather than giving ownership of the underlying assets; availability and leverage depend on the market and jurisdiction.
| Asset class | Products offered | Restriction |
|---|---|---|
| Forex | Leveraged FX (CFD / rolling spot); 50 | Keeping a forex trade open overnight can result in swap or financing charges. Eligible clients may use leverage up to 1:30. |
| Indices | Index CFDs; 12 | Trading an index CFD does not mean owning the shares that make up the index. Cash and futures contracts may have different trading hours, terms and financing costs. Eligible clients may use leverage up to 1:20. |
| Commodities | Commodity CFDs; 13 | Trading commodity CFDs does not involve taking delivery of the physical commodity. Trading hours vary by contract, and some contracts expire or need to be rolled over. Leverage can reach 1:20 for eligible clients. |
| Stocks | Stock CFDs; 160 | Trading stock CFDs does not make you a shareholder or give you voting rights. Overnight positions may incur financing charges. Eligible clients may use leverage up to 1:5. |
| Crypto | Crypto CFDs; 4 | Crypto-linked contracts provide exposure to price movements, not ownership of the coins. UK retail clients cannot trade these derivatives. Eligible clients in permitted jurisdictions may use leverage up to 1:2. |
| ETFs | ETF CFDs; Conflicting availability across supplied files; exact ETF count not verified | ETF CFDs track fund prices without giving traders ownership of ETF units. The ETFs available and their margin requirements depend on the account and region. |
Two material limits stand out: UK retail clients cannot trade the listed crypto derivatives, and ETP CFD availability and margin requirements depend on the account and region. This range is therefore not uniform across clients.
Execution, Trading Tools and Research
3.8/5Area score
Overall review score: 3.7
LegacyFX lists analysis tools—including trading signals, an economic calendar, Autochartist, Trading Central, price charts and market news—and learning resources such as webinars, eBooks and platform tutorials. These support research and platform learning; they are separate from MT5’s execution and automation tools. The broker describes orders as filling at the best available market price or the closest remaining quote, while noting that rapid or abnormal conditions can cause slippage. This is a stated execution policy, not a measured result.
LegacyFX Deposits, Withdrawals and Account Opening
3.8/5Area score
Overall review score: 3.7
Live-account applicants must complete identity and residence verification before opening and funding an account. Deposits are listed through bank transfer, cards, e-wallets, crypto and buy-now-pay-later (BNPL), but BNPL withdrawals are not confirmed. The table sets out the method-specific processing information and stated charges.
Account Opening and Identity Verification
LegacyFX says applicants must provide proof of identity, such as a passport, national ID card or driving licence, and proof of residence, such as a recent utility bill or bank statement. It also requests a taxpayer identification number and says it uses SumSub for automated document verification.
Deposit and Withdrawal Methods
| Method | Deposit / withdrawal availability | Broker fee | Processing time |
|---|---|---|---|
| Bank transfer | Deposits are available. First deposit depends on account: Silver USD 500, Gold USD 5,000, Platinum USD 25,000 (method-specific minimum not specified). Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. Intermediaries may charge. No broker fee applies to withdrawals. Bank or intermediary fees may apply. | Deposit processing time: Instant–3 business days. Withdrawal processing time: At least 3–5 business days following KYC; bank wires can take longer. |
| Debit / credit card | Deposits are available. First deposit depends on account: Silver USD 500, Gold USD 5,000, Platinum USD 25,000 (method-specific minimum not specified). Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. Intermediaries may charge. No broker fee applies to withdrawals. Bank or intermediary fees may apply. | Deposits are processed instantly. Withdrawal processing time: At least 3–5 business days following KYC; bank wires can take longer. |
| E-wallets | Deposits are available; the minimum amount is not specified. Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. Intermediaries may charge. No broker fee applies to withdrawals. Bank or intermediary fees may apply. | Deposits are processed instantly. Withdrawal processing time: At least 3–5 business days following KYC; bank wires can take longer. |
| Crypto | Deposits are available; the minimum amount is not specified. Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. Intermediaries may charge. No broker fee applies to withdrawals. Bank or intermediary fees may apply. | Deposits are processed instantly. Withdrawal processing time: At least 3–5 business days following KYC; bank wires can take longer. |
| BNPL | Deposits are available; the minimum amount is not specified. Withdrawals through this method are not confirmed. | No broker fee applies to deposits. Intermediaries may charge. Withdrawal fee information is not available. | Deposits are processed instantly. Withdrawal processing time is not available. |
Customer Support
Support is listed as available 24/5 by phone, email, WhatsApp and contact form, in English, Arabic and Russian. The listed support email is [email protected] and the phone number is +41 315087455. No support interaction is assessed here.
Who Should Choose LegacyFX?
LegacyFX’s clearest fit is an MT5 trader who accepts CFD exposure and can meet the funding threshold for a suitable tier. For a trader prioritising verified authorisation or a particular compensation arrangement, the unverified international licence claim is a decisive limitation; for one prioritising direct ownership of shares or crypto, the listed CFDs do not provide it.
| Profile | Fit | Decisive reason |
|---|---|---|
| MT5 trader seeking several CFD markets | Conditional | MT5 is offered across desktop, web and mobile, with forex, indices, commodities, stocks and crypto CFDs. |
| Trader seeking a low entry deposit | Conditional | The stated minimum initial deposit is $500; account-tier minimums and terms should be confirmed before opening. |
| Trader requiring clearly verified regulatory protection | Poor | The international agreement claims VFSC licence 14579, but current authorisation is unverified; protection depends on the contracting entity. |
LegacyFX vs Alternatives
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Pepperstone- No inactivity fee
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ACY SecuritiesASIC, FSCA, SVGDetailed Review
The decision turns on whether MT5-based CFD access outweighs the uncertain authorisation and tier-dependent funding commitment.
FAQs
Which regulator oversees LegacyFX’s international entity?
The international client agreement names A.N. All New Investments (VA) Limited and claims VFSC licence 14579. The current status of that authorisation is unverified.
What is LegacyFX’s minimum deposit?
The listed minimum initial deposit is $500. Account-tier minimums differ, and you should confirm the terms for the specific account before funding.
Does LegacyFX charge trading commissions?
LegacyFX describes most forex, commodity and CFD trading as commission-free, with costs generally reflected in spreads. Stock CFDs may carry a commission.
Which platform does LegacyFX offer?
LegacyFX offers MetaTrader 5 for desktop, web and mobile. MT5 supports Expert Advisors and a built-in Strategy Tester.
Which markets can I trade with LegacyFX?
Listed markets include forex, indices, commodities, stock CFDs, crypto CFDs and ETP CFDs. CFDs provide price exposure and do not give ownership of the underlying assets.
How long do LegacyFX withdrawals take?
Card, e-wallet, bank-transfer and crypto withdrawals generally require at least 3–5 business days after identity verification. Bank wires can take longer.