Overall Rating: ★★☆☆☆ (2.9/5.0)

LegacyFX is a multi-asset forex and CFD broker founded in 2017, offering trading across forex, stocks, commodities, indices, and cryptocurrencies via the MetaTrader 5 (MT5) platform. Operated by AN All New Investments (VA) Ltd, LegacyFX is registered in Vanuatu, though it also claims regulation by CySEC through a related European entity. The broker promotes zero commission trading, negative balance protection, and high leverage, but its dual regulatory structure, lack of MT4, and limited transparency on spreads and fees have drawn mixed reviews.

This LegacyFX review assesses its trading environment, regulation, platform access, and whether it’s a good fit for traders in 2025.

Key Features

LegacyFX offers access to thousands of global markets through a modern trading platform and account types tailored to different experience levels.

• Trading Platform:
  • MetaTrader 5 (MT5) only
  • No support for MetaTrader 4 (MT4)
• Markets Offered:
  • Forex, indices, stocks, commodities, ETFs, and cryptocurrency CFDs
• Account Types:
  • Bronze, Silver, Gold, Platinum, Premium, and VIP
• Leverage:
  • Up to 1:200 (offshore entity)
  • Up to 1:30 (EU-regulated clients)
• Minimum Deposit:
  • From $500 (Bronze account)
• Funding Methods:
  • Bank transfers, credit/debit cards, Skrill, Neteller, crypto

Regulation and Security

LegacyFX has a dual regulatory setup that offers compliance under CySEC for EU clients and flexibility through offshore registration.

• CySEC Regulation (EU clients) – Licence No. 344/17
• VFSC (Vanuatu Financial Services Commission) – Licence No. 14579
• MiFID II compliance for EU clients
• Negative balance protection available
• Segregated client funds
• No investor compensation scheme under VFSC

Pricing and Costs

LegacyFX advertises zero commissions, but spreads may be wider to compensate for the cost-free model.

• Spreads:
  • From 0.6 pips on major pairs (not always verified live)
• Commission:
  • $0, though costs are built into spreads
• Deposit/Withdrawal Fees:
  • No deposit fees; withdrawal fees vary
• Inactivity Fee:
  • $10 monthly after 30 days of inactivity

Educational Resources and Customer Support

LegacyFX provides above-average education and analysis tools, especially for new and intermediate traders.

• Education:
  • E-books, webinars, platform tutorials, glossary
• Market Analysis:
  • Daily updates, technical and fundamental insights
• Customer Support:
  • 24/5 live chat, phone, and email support
  • Multilingual assistance available

Risk Management Tools

LegacyFX offers key protection tools via MT5, with some broker-level safeguards depending on regulation.

• Stop-loss, take-profit, and trailing stops
• Margin call and stop-out levels enforced by account type
• Negative balance protection for retail clients
• No guaranteed stop-loss orders (GSLOs)

Pros and Cons

Pros

• CySEC regulation for EU clients ensures strong fund protection
• Access to thousands of instruments via MT5
• No commissions on most accounts
• Good educational and market analysis resources
• Crypto funding options supported

Cons

• High minimum deposit ($500+)
• Offshore entity (VFSC) offers no investor protection
• No MT4 support
• Inactivity fees apply after 30 days
• Spreads wider than average on some assets

Conclusion: Is LegacyFX the Right Choice?

LegacyFX is a reasonably reliable broker for traders who prefer MT5 and want access to a wide range of assets under CySEC regulation, particularly in Europe. However, traders using the offshore VFSC entity should be cautious, as there is no investor compensation and weaker oversight. The high minimum deposit and lack of MT4 make it less attractive for beginners, though its zero-commission model and strong education are notable positives.

For traders wanting tighter spreads, stronger global regulation, and broader platform access, alternatives like AvaTrade, IC Markets, or Pepperstone may offer better value.