LegacyFX - what is the paradox of the broker? The most honest review

LegacyFX brokerage company looks very attractive. Its website contains all the necessary information for an investor, the conditions could be acceptable for a financial player of any level, and the documentation is in good order. But there is one snag that makes one doubt the honesty of the legend legacyfx.by – reviews. Why is there so much negativity about a professional intermediary on the Internet? You will learn about everything in this material.

What does the mediator list on their website?

Broker legacyfx.by has a pretty good web resource. It is decorated in shades of green and gold colors. On the main page of the company’s website there is a banner that states that AE AllNew Investments Limited, the parent company of our protagonist, has become a sponsor of the Spanish professional soccer club Real Betis Balompie.

Judging by the domain and information from the footer, we can understand that the company is based in Minsk, the capital of Belarus.

At the address given, it has allegedly been there since late 2018. This means that there should definitely be a corresponding mark in Google Maps. But there is no LegacyFX office in any building on Dzerzhinsky Avenue in Minsk.

There are also doubts about the real age of the mediator. We can also check it with the WHO IS service:

As you can see, in reality, this site only started working in February of this year. This means that it has no experience whatsoever, and the huge number of clients and impressive turnover is just a fictitious legend for naive newcomers.

LegacyFX documentation

As we have already determined, legacyfx.by is located in Minsk, respectively – it is regulated by the Belarusian supervisory authority. But there is no mention of this broker on the website of the NBRB. What is interesting, we managed to find information about the broker on the web resource of the Cypriot regulator. It turns out that CySEC issued a license to LegacyFX back in 2017. All this information does not match with the information we have already found earlier. What is it about?

The website of the Cypriot regulator helped to clarify the issue:

As you can see, the authorization document was issued to a company that has such domain names:

legacyfx.eu;
legacyfx.com;

There is no Belarusian web resource among them. This means only one thing – fraudsters from legacyfx.by have completely copied the site of a real broker, adapted it to their audience and made corrections in the “Contacts” column. They do not have any documents and licenses! Neither do they have a conscience.

The working conditions of con artists

Even though we’ve already exposed the true nature of LegacyFX, it’s still worth paying attention to its offerings.

The fake intermediary offers its clients 7 types of accounts: Standard, Bronze, Silver, Gold, Platinum, Premium and VIP. The minimum entry threshold is 500 dollars. The deposit is capable of reaching $50,000 for the most voluminous of the plans. Leverage is also too high – up to 1:100. Such values do not occur in companies regulated by European supervisory authorities.

You can trade commodities, stocks, currencies and digital assets.

MT5 is indicated as the trading terminal on the site of the office. But we do not recommend checking it, as the download file contains malware:

Honest reviews about LegacyFX

Finally, the most interesting part of our review is the analysis of reviews on working with legacyfx.by. Expectedly, all comments about the intermediary in the network have a negative coloring:

It is categorically not worth trusting your capital to these scammers! Under the guise of a real broker, they will steal all your money and leave you not understanding how it happened.