Binance Vs. LegacyFX - Compare Trustworthiness, Capabilities, Fees and Legitimacy


Visit Investing in cryptocurrencies involves risk.	Visit 77% of retail CFD accounts lose money.
Overview
Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.	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
Avid cryptocurrency traders and investors from intermediate to expert levels Day traders looking for a high liquidity exchange with competitive fees	Traders looking for a CySec broker that offers a trading signals service
Licenses
Financial Licenses Regulation Unregulated Top-tier Licenses 0 Other Licenses 0 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
None	CySec (Cyprus) VFSC (Vanuatu)
The Good
Largest cryptocurrency exchange in the world by liquidity Massive cryptocurrencies selection available (700+) Large amount of financial products in the form of derivatives (Vanilla options, futures, etc) Advanced trading platforms with visual order books at no cost	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
Interface can be complex to use for beginners The wide selection of products and derivatives can also be intimidating for beginners	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
No fresh news at the moment. Check again soon!	No fresh news at the moment. Check again soon!
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
2017	2017
💳 Minimum Deposit Range
0	From $500 to $25,000
💰 Payment Methods
Cryptocurrency Bank transfers Visa Mastercard	Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat
💵 Account Base Currencies
All supported cryptocurrencies.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
Yes	No
❌ Restricted Countries
None	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
Banking License
No	No
Debit Card
Yes	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
750	292
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
0	200
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
0	40
📗 Commodities
0	0
📗 Commodities CFDs
0	24
📕 Indices
0	0
📕 Indices CFDs
0	18
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
750	0
💸 Cryptocurrency CFDs
0	10
📒 Bonds
0	0
📒 Bonds CFDs
0	0
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
$10	Unavailable
📉 Minimum FX Trade Size
Unavailable	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Unavailable	$10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
100	30
💪 Professional Leverage
Unavailable	500
✍ Customisable Leverage
Yes	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
No	Yes
📱 IOS App
Yes	No
📱 Android App
Yes	No
📺 MetaTrader 4
No	No
📺 MetaTrader 5
No	Yes
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
Yes	No
💻 Proprietary Platform
Yes	No
📊 Multi-chart Tools
Yes	Yes
👬 Copy Trading
No	No
👫 Social Trading
No	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
No	No
Fees
💰 Inactivity Fee
None	Yes, 10 units of account base currency after 90 days of inactivity.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Fixed 0.1% trade value fee for spot trades.	Yes, ranging from 0.15% to 0.45% of trade value for stocks only.
Spreads
📈 EUR/USD
Unavailable	Dynamic - From 1.6 Pips
📉 SP500
Unavailable	Dynamic - From 120 Pips
📈 GOLD
Unavailable	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Unavailable	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $1	Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
No	Yes
📜 Integrated Newsfeed
No	No
📡 Reuters Feed
No	No
📡 Educational Content
Yes	No
📡 Live Chat Support
No	No
📡 Video Tutorials
Yes	No
📡 Account Management
No	Yes
📡 Webinars
No	No