John M.
Arbitrary Rules, Zero Flexibility, and Absolutely No Respect for Traders
Legends just terminated multiple of my accounts — worth over $400 a month — because of a single accidental trade in an instrument similar to the MYM. Their so-called “hedging” rule is not only nonsensical but demonstrates a fundamental misunderstanding of actual market behavior. Even the CBOE and most professional trading guidance acknowledge that correlated instruments can show short-term divergence (and even recommend trading in a way that is defined as "hedging"...) — that’s the basis of mean-reversion trading. I wasn’t hedging. I was trading in line with the market, exactly as any rational trader would in a mean-reversion setup. Yet, instead of any review or reasonable discussion, they simply nuked five accounts without warning. No opportunity to explain or correct an honest mistake — just gone. What’s worse is that this restriction punishes active traders who rely on correlated-index relationships — a cornerstone of real market strategy — and replaces sound judgment with rigid, arbitrary enforcement. For a firm that markets itself as trader-friendly, Legends operates like a rulebook designed to fail people. If you value flexibility, transparency, or even common sense, avoid Legends entirely. Their policies are inconsistent with real-world trading logic and their customer support shows no interest in resolving legitimate issues. I’ve worked with several prop firms — Legends stands out for all the wrong reasons.
Response from Legends Trading GroupJan 21, 2026
It is always our goal to provide five star service. Support will attempt to contact you to hear more about your experience, so we can try to make it right!