By replacing Classic Edge with Microsoft Edge Chromium, Microsoft is taking away the ability to open legacy sites via internet explorer in new Edge browser, the newly launched Internet Explorer mode or IE mode is for enterprises only, but you can still make the feature to function in stable, beta, dev and Canary versions of new Microsoft Edge also, here is how.

To avoid the necessity to use two browsers — Microsoft Edge and Internet Explorer– for businesses, Microsoft integrated IE mode into Chromium Edge where it includes Internet Explorer 11’s Trident MHTML Engine to visit legacy sites or apps and Chromium/Blink engine for browsing of modern sites.
For the uninitiated Microsoft defines IE mode in Chromium Edge as below
IE mode on Microsoft Edge is a simplified experience that combines a modern rendering engine and compatibility with legacy sites that require Internet Explorer in a single browser. IE mode provides an integrated browsing experience in Microsoft Edge, using the integrated Chromium engine for modern sites and leveraging Internet Explorer 11 (IE11) for legacy sites that require the Trident MSHTML engine
Enable IE Mode in Microsoft Edge Chromium
1. Launch Microsoft Edge Chromium beta version
2. Visit edge://flags page
3. Search for “internet”, for “Enable IE Integration”, choose “IE mode”

4. Restart the browser.
Opening a website in Internet Explorer mode in new Edge browser
1. Right-click on Edge beta shortcut on the desktop and select Properties,
2. In the Target field, after msedge.exe” give space and add the below switch
--ie-mode-test
Total string in the Target field should be as below
"C:Program Files (x86)MicrosoftEdge BetaApplicationmsedge.exe" --ie-mode-test
3. Click Apply, provide admin permission by clicking “continue”
4. Now launch Edge from the shortcut to which we appended command-line switch, visit a website,
5. Click on the ellipsis icon, More tools, select the” Open sites in Internet Explorer mode”, edge shows a message ” All sites in this tab will be opened in Internet Explorer mode’ from now on.

Note: On every launch of the browser you’ll be nagged with a message: “You’re using an unsupported command-line flag –ie-mode-test. This poses stability and risks.”, click on the “x” button to close it, this notification will re-appear on the next restart.