LELegacyFX

The Cyprus Securities and Exchange Commission (CySEC) provides regulatory oversight for investment firms operating within the European Union under MiFID II. LegacyFX was historically associated with CySEC licence 344/17, issued to Foris Capital CY Ltd (formerly A.N. Allnew Investments Ltd). This licence ensures that the regulated entity adheres to strict financial and operational standards, including capital adequacy, transparent reporting, and fair client treatment. However, it is crucial to note that the CySEC register currently lists 'Crypto.com' as the approved trade name for this entity. Finance Magnates reported that Crypto.com acquired the CySEC-licensed firm behind LegacyFX to secure a MiFID licence, indicating a significant shift in the operational context of this particular regulatory approval. This means that while the licence is active and regulated, its primary association has transitioned to Crypto.com for its financial services within the EEA.

Verifying a broker's licence is a critical step for consumer protection. For LegacyFX, the verification process involves confirming the status of licence 344/17 with CySEC. To do this, visit the official CySEC website and navigate to their 'Entities under Supervision' section. Search for 'Foris Capital CY Ltd' or use the licence number 344/17. The register will display the entity's details, including its registered address (47 Ioanni Kondylaki Street, Q Tower, Larnaca, Cyprus) and the approved trade name, which is currently 'Crypto.com'. It is important to confirm that the licence is active and to understand that its primary operational association has shifted to Crypto.com. The register does not provide a specific status for the LegacyFX brand itself. This direct verification helps consumers understand the current regulatory landscape and the specific entity responsible for the licence.

During our checks on 2026-09-02, the legacyfx.com domain was inaccessible, returning an HTTP 522 error. This inability to access the broker's official website means that critical operational details such as minimum deposit requirements, maximum leverage, specific trading platforms offered, account types, and available instruments could not be verified directly. Furthermore, claims found in third-party directories regarding a founding year (either 2004 or 2012) and additional licences, specifically a VFSC licence (14579) and Minsk registration (193180778), remain unverified. These claims could not be substantiated through primary register checks. Without direct access to the broker's own legal documentation, assurances regarding segregated funds and negative balance protection also remain unconfirmed. Consumers should exercise caution when relying on unverified information.

While regulation by authorities like CySEC offers significant protections, it does not eliminate all risks associated with financial trading. Regulation primarily ensures that the licensed entity operates within a defined legal framework, maintains adequate capital, and adheres to rules designed to protect client funds and ensure market integrity. However, it does not guarantee profitable trading outcomes or protect against market volatility. Traders can still lose money due to poor investment decisions, adverse market movements, or the inherent risks of leveraged trading. Furthermore, regulation does not cover situations where the regulated entity's operations change significantly, such as an acquisition that shifts the primary brand associated with the licence. It is essential for traders to understand the specific scope of regulatory protection and to conduct their own due diligence on the broker's current operational status and terms.

LegacyFX presents a complex regulatory picture. While a CySEC licence (344/17) is active, it is now officially associated with 'Foris Capital CY Ltd' and 'Crypto.com' following an acquisition. The direct operational status of the LegacyFX brand is unclear, with its website being unresponsive at the time of our review. This lack of direct access prevents verification of key trading conditions and client protection policies like segregated funds and negative balance protection. Consumers considering LegacyFX should be aware that the primary regulatory association has shifted and that many operational details remain unconfirmed. We recommend extreme caution and direct verification of the current service provider if considering any engagement under the LegacyFX brand name, especially given the website's unavailability and the regulatory shift to Crypto.com.