ANSWER Legends FX Markets is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Legends FX Markets claims to be operated by Legends FX Markets LLC, a company registered in Saint Vincent and the Grenadines under company number 248 LLC 2020 since 2020. However, no corresponding records exist in the register of the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). Furthermore, the SVG FSA has explicitly stated that it doesn't issue forex licenses nor does it regulate entities involved in such activities. As such, any financial services or products offered by Legends FX Markets are unregulated.Regarding your question, we suggest you avoid dealing with Legends FX Markets since it is a non-regulated broker. If dealing with an unregulated broker like Legends FX Markets, investors will expose themselves to significant risks such as loss of funds and identity theft, which could be financially and personally devastating. Due to the status of an unlicensed broker, there are no rules in place to protect investors. Therefore, investors are strongly advised to stay away from unlicensed brokers like Legends FX Markets and opt for fully regulated ones instead.
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