LegacyCFD PTY LTD, which operates the site, is registered with the Australian Commission with the number ACN 672 851 919), with its registered office in Sydney. In addition, LegacyCFD Limited, registered in Canada under the number FINTRAC MSB: M23088601, with headquarters in Brampton, is authorized to carry out money transactions on this platform. How reliable is this resource? Our review will show you whether you should trust this broker, as well as what advantages and disadvantages the firm has compared to its competitors.
How to Trade
LegacyCFD provides clients with its own platform. You can trade forex, indices, cryptocurrencies, stocks, and commodities. The main offers of the broker:
- 7 account types with different minimum deposit levels from $250 on Entry to $500,000 on VIP.
- Negative balance protection, which guarantees that the user’s account balance will not fall below 0.
- Affiliate program for Introducing Broker or Advertiser Individuals.
- Expert trade guidance, customized commissions, and dedicated support.
You can use bank transfers, PayPal, Western Union, Mastercard, or Visa to deposit/withdraw funds to LegacyCFD. The company is responsible for the legality of any transaction only to Australian residents.
LegacyCFD’s official website has a learning center section. There are 8 e-books on trading, a webinar page (no content), and the latest news. The brokerage firm has accounts on popular social networks, which you can access through the links provided on the website. It has English, Arabic, Spanish, and Polish versions, but some of the information remains in its original form in English.
LegacyCFD Vital Info
The official website does not contain specific information about the owners, managers, and licenses of the brokerage organization. We saw only a phrase repeated many times in different variants about the team’s more than 30 years of joint experience. Perhaps, unsophisticated users will consider this figure as the age of the project. However, the domain was registered only in October 2023. It is worth noting that the site lists three awards for “Best Customer Service 2023”, but there is no information about who was awarded, who evaluated the broker, and by what criteria.
We checked the registration of the two companies listed in the website footer as operating the platform. Indeed, LegacyCFD PTY LTD is included in the register of legal entities in Australia, and LegacyCFD Limited is registered in Canada. We have not been able to ascertain whether they are related to the site in question, as the site owner’s ID is not available in the registry of incorporation. We do not understand why the project’s owners remain anonymous, even though they emphasize their “many years of experience”. Does hiding important information about themselves and the history of the “Most Innovative Broker of 2023” make these companies reliable partners in the financial industry?
I had problems with this firm too! Legacycfd is guilty of embezzling their clients' money. I have 8,654 US dollars on my balance, but I can't withdraw it! My withdrawal request has been hanging for over a month! I have already tried all possible options of pre-trial recovery, but the broker does not want to meet me! Administrators ignored all my appeals!
I was not satisfied with the experience of trading on this platform. The account verification process was delayed due to constant comments and requests for uploaded documents. The official website is regularly offline, which creates inconvenience and makes access difficult. The intrusiveness of legacycfd managers who constantly called me with offers was also an annoyance.
I can safely rank this company among the best brokers! I have been working with LegacyCFD for three months and I'm satisfied with everything! This brokerage company works honestly, it's a pleasure to trade with it and earn 5% from my referrals under the Affiliate Program. I trade mostly cryptocurrency, and I almost always end trading sessions with a profit. The broker provides good trading plans, there are no hidden commissions and other fees on the site, and everything is honest and transparent. Conditions for trading are excellent, the size of the minimum deposit here is not so large, I'm pleased with the presence of many useful analytical tools, there are different investment studies, market reviews, always fresh news. Trade insurance up to 30% is on my account, which adds to my confidence in the safety of funds. I don't have any problems with the trading platform - execution is instant, slippages are almost nonexistent. Technical support works perfectly, operators answer my requests always within 10 minutes. I also want to note the payment service, you can withdraw money to a card or e-wallet, there are many ways! Withdrawal occurs within an hour on the card. I have not once had any problems with legacycfd.com, as it was with other brokers! I recommend the service!
The broker does not have any licenses. In addition, the main problem is not that the project does not have a license - this is a common practice for new companies, and many of them do not get permission right away. The problem is that this broker gives false information that supposedly it allows you to trade on the basis of a license, although in fact it is not true. I do not recommend you to trade on the terminal of scammers.
It seems to me that negative reviews are written by those people who did not understand the principles of trading and started trading right away. In this case, I'm not surprised that such traders quickly lose their deposits. I have been working with this broker since November 2023, and everything is fine with my earnings, I have not had any problems during this time, and there were no negative moments on the terminal. With a starting deposit of 1,300$ (which I have already doubled), now I have more than 600$ net profit per month. For me it is a usual result, I always trade currency pairs and quite successfully. The broker provides all conditions for traders, you only need to study strategies a lot. By the way, Legacycfd has free training for beginners.
I have been working with this broker for almost 6 months. There were no problems before, but now I am waiting 10 days for a withdrawal of 130 euros, I suspect that I will still wait a long time. Employees cheat customers with transfer deadlines, be careful, but I hope they will correct themselves. I was planning to add more money to my account to work after receiving the bank account transfer, but now I have lost trust in legacycfd. The broker is becoming like a scam...
Do not contact this broker, it is a scam! The company declines responsibility in case you lose money! The crooks are too competent, you will not be able to prove anything when your account is blocked! I tried for two months to get a refund of $4,350 from Legacycfd, all my efforts were unsuccessful, I only wasted my nerves. I lost money thanks to one large deal, which closed with losses due to a platform malfunction. The broker does not want to admit it, managers say that it was my own fault.
This platform is a collection of scam artists who brazenly steal their clients' money and then don't respond to messages, all this you can understand from your own experience if you register with Legacy CFD. These freaks ripped me off for 930$, I traded here for only a few weeks and after the managers saw that I really know how to trade, they just blocked my account without any explanations.
All my deals fell through, however, I had to pay a commission! I was very disappointed in this platform because I noticed a discrepancy in the quotes! I checked the data and was convinced that legacycfd has fake quotes (Forex)! I withdrew the rest of my funds and forgot my way here. In fact, I was still lucky as the money was transferred to my bank account.
I recently registered an account with this broker and transferred the minimum deposit amount of $250 to the account. I started trading and closed a couple of trades with profit. I went to my personal cabinet today and saw that all the money was missing from my account! I wrote to technical support, but the operators didn't even answer. I suspect that I have fallen for the scammers, but the site legacycfd.com looks quite good, there's registration in Canada and regulation. I didn't check the broker's information thoroughly, of course, but apparently, I should have 😯 I'll be smarter now. My advice to you is to always check the information about the company you are going to entrust your money to and read reviews about them! I think I won't be able to get my money back anymore.
About what thirty-year term of the project claim its owners if the site was created in 2023!?! I suspect that the company is registered in an Australian offshore zone via the Internet, because now absolutely anyone can do it, even a schoolboy. The interface is legacycfd.com copied from another similar site and edited in photoshop, and the award story is most likely fake. Scammers have invested no more than 10 dollars in the project, and can already start luring those who want to trade on Forex. Of course, scammers bet on attracting inexperienced users who do not distinguish scam from real trading. I do not advise you to register an account, let alone transfer money to these scammers.
Trading through this terminal won't bring you any profit. The reason is that LegacyCFD has very high spreads, and the commission is also quite high, more than 10%! I tried the scalping method, but all my efforts were fruitless. Technical failures also interfere with the work. Therefore, you should not expect good conditions for earning from this company. They are not here! I barely saved my deposit of 320 euros, I did not even dream of profit!
The amount of minimum deposit there's too high :( You need to throw at least 250 dollars on a little known platform to open a trading account! I think this is too much! I need to test the company for honesty and reliability on a small amount, and then already decide on such a large deposit.