LegacyFX is a Vanuatu based broker which boasts of being the most trusted and transparent brokers in the trading industry. LegacyFx is a trademark under the company AN ALL New Investments (VA) Limited. This company claims that they are regulated by Vanuatu Financial Services and have the trade License number 14579.
Website – https://int.legacyfx.com/
Regulated by – VFS (Vanuatu Financial Services)
Reasons why LegacyFx is a scam?
Vanuatu based financial brokers and which are not regulated by Tier1 regulating authorities like FCA, ASIC, FINMA, CONSOB and others are considered weakly regulated. Therefore the rules and regulations governing such brokers are not strict and therefore there is a big possibility of getting scammed by the brokers. Therefore the money of an investor dealing with LegacyFx is not safe.
There are multiple regulation warnings to LegacyFx from different financial watchdogs like the one below.
Negative LegacyFX Reviews are common in the internet and therefore it is highly suspected that LegacyFx is a scam. Feedbacks by real online customers are great proofs for knowing the legitimacy of a broker. Our LegacyFx review also says that LegacyFx is a potential scam broker and traders should stay away from them.
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