LegacyFX

LegacyFX is a retail forex broker registered in Belarus under the legal entity “AN All New Investments BY LLC” (UNP 193180778). The company was registered on 14 December 2018 and began operations as a broker on 10 June 2020, according to official records. It operates from a registered office at 220020, Minsk, Pobediteley Ave. 89, building 3, office 7.

The broker markets itself as an established provider of trading services for a global client base, though its regulatory oversight is limited to the National Bank of the Republic of Belarus (NBRB), which has granted a Forex Trading License (EP) but with a status that is not clearly active (marked as “—” in our records). This raises immediate caution for traders seeking a strongly regulated environment.

The sole regulator on file for LegacyFX is the National Bank of the Republic of Belarus (NBRB). The licence type is a Forex Trading License (EP), but the status field is blank or undefined in available regulatory data, meaning we cannot confirm active authorisation or the extent of oversight. Belarusian regulators generally offer less comprehensive investor protection compared to major financial hubs like the FCA or CySEC.

For traders accustomed to EU or UK regulatory frameworks, the absence of a clear, active licence status is a significant red flag. FXCanary’s research indicates that brokers with opaque or unverified regulatory standing carry higher risk for client funds and dispute resolution.

LegacyFX offers a structured account tier system with seven levels: Standard, Bronze, Silver, Gold, Platinum, Premium, and VIP. Minimum deposits range from $500 for the Standard account to $50,000 for the VIP account. All tiers except VIP offer a maximum leverage of 100:1; the VIP account’s maximum leverage is not disclosed in available records.

The high minimum deposit thresholds suggest the broker targets serious retail traders or even semi-professional clients, but with a leverage cap of 100:1, which is relatively conservative. The lack of information on trading platforms, instruments, or spreads makes it difficult to assess the value proposition of these accounts.

Our known facts do not include any specific instruments offered by LegacyFX. We have no data on whether the broker provides forex pairs, CFDs on indices, commodities, or cryptocurrencies. Similarly, trading platforms (e.g., MetaTrader 4/5, cTrader) are not confirmed.

This absence of detail is a major limitation for any trader considering the broker. Without transparency on execution, spreads, commissions, or available markets, the risk of hidden costs or inadequate trading infrastructure is elevated.

LegacyFX claims to have been serving traders since 2017, but its legal registration in Belarus dates to December 2018 and its operational start to June 2020. This discrepancy suggests the brand may have existed before the current entity, which could indicate a rebranding or migration.

Social media presence is limited to Instagram, providing scant public engagement or transparency. The broker does not appear on major industry databases or review platforms, which leaves prospective clients with very little independent feedback or community validation.

FXCanary’s proprietary Scam Risk Score for LegacyFX stands at 85 out of 100, categorised as “Severe”. This rating reflects the unclear regulatory status, lack of verifiable trading conditions, and the broker’s low public profile. A score this high strongly warns against committing funds until substantially more information is available.

Traders are advised to consider only brokers with clear, active regulation from reputable authorities and a proven track record of transparency. LegacyFX, based on current evidence, does not meet those criteria.