In the world of online trading, it’s crucial to tread carefully and be vigilant when choosing a broker. Legends Financial Company presents itself as a trustworthy entity, but as the saying goes, not everything that glitters is gold. More often than not, grandiose claims of reliability mask nothing more than a typical scam. In this review, we will delve into whether this project is worth your time or if it’s best to steer clear of it.
- Legends Financial Company General Information
- Registration and Client Portal Review
- Legends Financial Company Trading Conditions
- Account Types
- Trading Platform
- Legends Financial Company — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is Legends Financial Company a Scam?
- Legal Information and License
- Legendsfinancialltd.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Legends Financial Company General Information
| Website | https://www.legendsfinancialltd.com/ |
| Phone Number | + 442080974030 |
| support@legendsfinancialltd.net | |
| Address | 1 Phipp Street, EC2A 4PS, London |
| License | — |
| Minimum Deposit | £100 |
| Assets | CFDs |
| Leverage | Up to 1:100 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
Developers of the official Legends Financial Company website made an attempt to leave no room for criticism. However, it can hardly be considered successful. The pages, stripped of textual content, can hardly be deemed informative. Moreover, some decisions appear not just questionable but rather absurd. For instance, placing User Agreement, Privacy Policy, and AML information in the “About Us” section is more than puzzling.
Equally ludicrous are the generic statements in the “Assets” section, such as defining currency, stocks, or CFD contracts, instead of providing actual specifications for the trading instruments available to Legends Financial Company traders. Additionally, the presence of only three languages – English, Polish, and Russian – adds to the comical nature of the website.
To initiate your journey with Legends Financial Company, simply locate and click the enticing “Get Started” button prominently displayed on the main page. This will lead you to the registration process, where you will be prompted to enter your personal details and contacts. Surprisingly, the broker does not implement a verification step for either your email or mobile phone number, leaving room for doubt regarding their emphasis on robust security measures. Such laxity in verification procedures may indicate a lack of stringent protocols in place to protect your sensitive information and assets.
The only aspect of Legends Financial Company that doesn’t raise concerns is its fairly standard client portal, which is similar to many other projects in the industry. However, it is important to note that this is likely not due to any exceptional effort on the part of the developers at Legends Financial Company, but rather the inability to tamper with a well-established script that enables users to:
- Input and edit personal information.
- Track their trading history.
- Perform non-trading operations such as depositing and withdrawing funds, while also being able to view the transaction history.
- Communicate with customer support.
- Access the trading terminal to execute trades.
Legends Financial Company Trading Conditions
Despite our initial lack of enthusiasm for the Legends Financial Company’s official website, we decided to explore further and assess the broker’s trading conditions. We were hopeful that perhaps their trading offerings would exceed our expectations.
Account Types
Legends Financial Company offers four different account types, and the minimum deposit requirement of just 100 pounds is relatively low. However, we discovered that opting for the Beginner account comes with its drawbacks. Trading limitations and high commissions create hurdles and make it challenging to execute trades effectively.
If you aspire to access a wider range of trading instruments, you’ll need to deposit a substantial amount of 5,000 pounds. It’s worth noting that the broker fails to provide specific details about these basic assets, leaving potential traders uncertain about what they are investing in. For those seeking access to the complete suite of trading instruments, the Platinum account is the only option, requiring a minimum deposit of at least 50,000 pounds. This account type offers additional services such as trading signals and higher leverage.
Overall, we found the trading conditions offered by Legends Financial Company to be rather mediocre.
Trading Platform
When it comes to trading software, Legends Financial Company falls short with its offering of a standard web trader platform. We were disappointed to find that this platform is not unique to the broker, as we have encountered it being used by numerous other brokers in the industry. Contrary to the broker’s claim of it being the best software available, we found it to be quite underwhelming.
The web trader platform provided by Legends Financial Company lacks advanced capabilities and features that are commonly found in more sophisticated platforms. It appears to have a bare-bones design and limited functionality, which may hinder traders who are accustomed to more robust trading tools.
Furthermore, it is worth noting that Legends Financial Company does not provide a desktop terminal for those who prefer a dedicated application for their trading activities. Additionally, there is no downloadable mobile app offered by the broker, limiting traders’ ability to conveniently access the markets on their mobile devices.
Legends Financial Company — Deposit and Withdrawal of Funds
Despite the broker’s claims of offering convenient deposit options, the actual process of funding an account with Legends Financial Company is far from ideal.
Upon accessing the client’s personal account, users are greeted with a mere application form. After submitting the form, the client is left with a simple “Thank you” message, without any clear instructions on where to transfer their funds. Apparently, the broker only provides the necessary payment details during direct contact over the phone.
Reputable companies that prioritize honest and transparent dealings with their traders would never resort to such convoluted and obscure methods when it comes to handling client deposits.
Verification
The verification process at Legends Financial Company is a standard procedure. Traders are required to provide the necessary documents to verify their identity and address. The submitted documents are reviewed by the broker. Once the verification is completed, traders can access the full range of services and features offered by the broker.
Additional Options
Legends Financial Company entices traders with bonus offers ranging from 20% to 50% on deposits, but it’s important to understand the implications. Unlike reputable companies regulated by established authorities, the broker resorts to such promotional tactics, signaling potential concerns regarding their regulatory compliance and client protection.
Moreover, these bonuses are not truly “free” money. Just like in online casinos, the broker requires traders to fulfill certain conditions, typically tied to the overall trading volume. Until these conditions are met, traders are unable to withdraw not only the bonus amount but also their own funds. The fact that Legends Financial Company fails to disclose this crucial information in their documentation raises doubts about the company’s integrity.
Additionally, Legends Financial Company offers additional services like analyst reports and trading signals. However, they are only accessible to clients with premium account types, which require substantial investments. Therefore, the purported benefits of the bonuses offered by the broker should be approached with caution, as they come with significant strings attached and the risk of potential profit confiscation.
Is Legends Financial Company a Scam?
Upon visiting the Legends Financial Company website, one cannot help but question whether this is a reputable broker committed to fair dealings with its clients. Let’s explore a few facts that continue to debunk the myth of the company’s reliability and honesty.
Legal Information and License
The creators of the Legends Financial Company website have gone to great lengths to scatter information about the company, making it extremely difficult for users to navigate. The official address is only found on the contact page, while the registration number is buried in the footer as part of the copyright line.
Upon verification in the UK registry, it was revealed that the registration number belongs to Legend Financial Limited. The discrepancy between the names (Company instead of Limited) indicates that the “broker” has appropriated someone else’s data. In reality, there is no registration for Legends Financial Company in the UK. Another argument against their legitimacy is the mismatch between the office addresses in the registry files and the provided contact details.
Furthermore, British companies can only engage in brokerage activities with the appropriate license from the local regulator (FCA). The true owner, known as Legend Financial, does possess the necessary permits. However, these permits are issued for Payment Services Dealer (PSD) activities, where Western Union Payment Services GB serves as the main service provider. There is no mention whatsoever of trading in financial markets. Thus, Legends Financial Company is yet another impostor without a legitimate company or the necessary permissions to conduct trading operations on exchanges and the Forex market.
Legendsfinancialltd.com Domain Info
Legends Financial Company boasts statistics of 415,000 registered accounts and million-dollar payouts to clients. However, it is worth noting that prior to the first months of 2023, the online community had no knowledge of Legends Financial Company whatsoever. This is supported by domain registration data, which indicates that the domain was only purchased on January 18, 2023. It becomes evident that the claim of having hundreds of thousands of clients and active traders in Legends Financial Company is yet another myth that fails to withstand even the simplest verifications.
Contacts Review
While Legends Financial Company claims to prioritize customer support, their contact information raises concerns about their credibility. The provided office address is suspicious, as it is associated with other scam brokers.
More Details
Legends Financial Company is part of a network of fraudulent brokers that includes Nelson Financial Solutions, Montana Trading Ltd, Sollari, and many others. These entities operate under different names but share similar deceptive practices. It is essential to exercise caution and be vigilant when encountering any broker that resembles Legends Financial Company.
Pros and Cons
- None.
- Fake legal data.
- No official registration.
- No license.
- Short lifespan.
- Negative reviews.
Frequently Asked Questions (FAQ)
The broker offers CFD trading and some additional services.
The minimum deposit required to open an account with this broker is £100.
No, it isn’t. Legends Financial Company has exhibited several red flags and concerns, such as unreliable data, lack of registration and licenses, and negative reviews from users.
Deceived for $1,000.
My friend asked, “How can I recover my money from a broker that doesn’t process withdrawals?” Confused, I inquired about the broker’s name and asked her to share the website. She provided me with a link to Legends Financial Company, and it took me about 30 seconds to understand and respond to her, saying, “You can forget about your money; you’ve been scammed, they stole your money.”
That’s the story in a nutshell. I asked her how she fell for such a scam and an obvious fraudulent scheme. She explained that a representative called her, talking about profitable trading opportunities, how much money she could make, even as a beginner, and how the company offered bonuses, signals, and support from experienced analysts. In short, they hit the jackpot, finding a trusting girl with money. She invested $1,000 here. The fraudster even guided her on how to buy cryptocurrency through an exchange, but directly to the address of this fake company. So she purchased the crypto not to her own address, but transferred it directly to the scammer’s address, and unfortunately, no data was saved. It would have been possible to trace the threads and find something interesting if we had the address.
After she made the deposit, the conversation with the girl was over. The scammers never contacted her again. The contact details on their website are fake, which is logical because you cannot withdraw the money.
That’s the sad story of losing $1,000. Take note of it, know that this broker is a scam, and be aware of similar schemes.
Secrecy, anonymity, opacity.
When a company’s management hides their names, credentials, and legal information, it’s a clear indication to stay away from the broker. Legends Financial Company precisely conceals around 95% of information about their operations and trading conditions awaiting traders who wish to work with them. However, I advise against even opening a brokerage account here because I see no purpose in it. You won’t be trading here anyway; it’s foolish, and I provided the reason at the beginning of this review.