Forex & CFD broker
LegacyFX Canada Review: Is It Regulated in Canada?
By ForexCanada Editorial Team · Updated
Canada check
LegacyFX holds licences outside Canada but is not registered with CIRO or any provincial securities regulator. If it accepts you, your account will normally be opened with an offshore group entity rather than its better-regulated subsidiaries — so CIPF coverage, CIRO margin rules and OBSI complaint handling do not apply. At our last check its non-EU entity accepted Canadian residents.
- Canadian status
- Not registered in Canada
- Canadian entity
- None — not registered in Canada
- CIPF coverage
- No
- OBSI complaints
- No Canadian ombudsman access
- Accepts Canadians
- Accepts Canadian residents
- Licences abroad
- CySECSVG(offshore)
- Founded
- 2017
- Headquarters
- Offshore group entities
Our take on LegacyFX
LegacyFX is a CFD brand with an EU entity and an offshore entity that serves most international clients. Its account tiers are built around higher minimum deposits and relationship-manager style service. For Canadians, the offshore entity means no Canadian regulatory protection, and we found less transparency on pricing than at leading brokers.
LegacyFX's account tiers scale up with deposit size, with higher tiers promising tighter pricing and dedicated account managers. Be cautious of any 'account manager' who encourages larger deposits or specific trades — that's a sales role, not advice. Canadian protections don't apply to the offshore entity that serves most non-EU clients.
Verdict
Hard to recommend when regulated Canadian options exist.
What we like
- +MT5 platform
- +Wide CFD range
Watch out for
- −Pricing less transparent than leading brokers
- −Higher minimum deposits
- −Not registered in Canada — no CIPF, CIRO or OBSI protection
How LegacyFX scores
Canadian protection carries 40% of the weight, so an unregistered firm can't outrank a registered one on price alone. See the full methodology.
Accounts, markets & platforms
- Platforms
- MT5, Proprietary web
- Markets
- Forex (50+ pairs) · CFDs · Crypto
- Minimum deposit
- About US$500
- Leverage
- Offshore entities often advertise 100:1 to 500:1 or more
- CAD / USD accounts
- — CAD | — USD
- Demo account
- Available
Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.
Verify LegacyFX yourself
- Look for the firm on CIRO's list of dealers it regulates.
- Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
- Confirm CIPF membership in the CIPF member directory.
- Search the CSA investor alerts for the brand name and any look-alike websites.
- Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.
Registered alternatives for Canadians
These firms are CIRO dealer members with CIPF-eligible accounts:
Interactive Brokers Canada
Online brokerage
Experienced, cost-sensitive traders who want forex, futures, options and global stocks in one account
Questrade
Online brokerage
Canadians who want TFSA/RRSP investing and forex/CFD trading with one Canadian firm
CMC Markets Canada
Forex & CFD broker
Traders who want the widest CFD and currency-pair range from a Canadian dealer
LegacyFX: frequently asked questions
Is LegacyFX regulated in Canada?
No. LegacyFX is not registered with CIRO or any provincial or territorial securities regulator, although it holds licences elsewhere (Cyprus (EU), St. Vincent & the Grenadines). Canadian protections such as CIPF coverage and OBSI complaint handling do not apply.
Can Canadians open an account with LegacyFX?
At our last check, LegacyFX's international entity accepted Canadian residents. That entity is not the one regulated in its home country, so check which company your account is with before depositing.
Does LegacyFX offer MetaTrader?
Yes — LegacyFX supports MT5.
What is the minimum deposit at LegacyFX?
About US$500. Minimums change, so confirm on the broker's website before funding.
Canadian trader reviews
Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.
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