AvaTrade
Visit

71% of retail CFD accounts lose money.

Vs.

LegacyFX
Visit

74-89% of retail CFD accounts lose money.

AvaTrade Vs. LegacyFX - Compare and Choose the Right One

Updated May 13 2022

Visit

71% of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

AvaTrade is a top-tier multinational broker with more than 7 financial regulators specialising in FX and options trading with their own proprietary platforms.

Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.

Best For
  • New traders looking for a more advanced forex and options platform
  • Experienced traders looking to take advantage of their fixed spreads
  • Experienced traders looking to trade FX options
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

6

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • FFAJ (Japan)
  • CBI (Ireland)
  • IIROC (Canada)
  • CySec (Cyprus)
  • FSCA (South Africa)
  • ADGM (United Arab Emirates)
  • ISA (Israel)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • AvaProtect feature for negative trades payback
  • Great variety of platforms (proprietary ones, MT4 & MT5)
  • Smooth platform experiences and easy account management
  • Custom Options trading platform
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • Lack of variety in stocks, ETFs and bonds
  • Expensive inactivity fees
  • No multi-chart tools
  • High trade minimums in all assets except forex
  • High minimum deposits (From $500 to $25,000) for their various account types
  • Extremely high spreads when compared to similar brokers
  • Low asset offering with poor categorisation
  • Subpar regulatory framework
  • Only MT5 platform is offered
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2006 2017
💳 Minimum Deposit
$, €, £ - 100 $500
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
💵 Account Base Currencies
4 - USD, GBP, EUR, CHF. 11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, BE, IR. US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, cryptocurrencies, commodities, currencies, ETFs, indices, shares, options and bonds.

CFDs on currencies, commodities, indices, cryptocurrency and stocks.

📙 Stocks
626 200
📘 Currency Pairs
55 40
📗 Commodities
27 24
📕 Indices
33 18
📔 ETFs
59 N/A
💸 Cryptocurrencies
17 10
📒 Bonds
2 N/A
📓 Options
44 N/A
📗 Futures
N/A N/A
📝 Notes:
Most of AvaTrade's assets are CFDs.

All of Legacy FX assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
Depends on Stock price, from 1 to 10 or 100 units. N/A
📉 Minimum ETFs Trade Size
Depends on ETF price, from 1 to 10 or 100 units. N/A
📈 Minimum Crypto Trade Size
Depends on cryptocurrency, for BTC 0.01, for ETH 0.1 units. N/A
📉 Minimum FX Trade Size
$1,000 $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies by Commoditty (Eg: 1 Troy ounce of Gold) $10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
10 Bond contracts N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
10,000 FX Option contracts N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
No Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No No
Fees
💰 Inactivity Fee
Yes, $50 per quarter after 3 months of inactivity.

Yes, 10 units of account base currency after 90 days of inactivity.

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
No

Yes, ranging from 0.15% to 0.45% of trade value for stocks only.

Spreads
📈 EUR/USD
Dynamic - From 0.9 Pips Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 50 Pips Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 34 Pips Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - From $1.92 N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $137.31 Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

By using TheTradingBible.com's website you agree to the use of cookies.