Binance
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Investing in cryptocurrencies involves risk.

Vs.

LegacyFX
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77% of retail CFD accounts lose money.

Binance Vs. LegacyFX - Compare and Choose the Right One

Updated Oct 20 2022

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