City Index
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67% of retail CFD accounts lose money.

Vs.

LegacyFX
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74-89% of retail CFD accounts lose money.

City Index Vs. LegacyFX - Compare and Choose the Right One

Updated May 13 2022

Visit

67% of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

City Index is a global broker founded in 1983 that holds 4 financial licenses and offers advanced trading platforms, mobile apps, diverse market research tools and an extensive range of markets.

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
  • Intermediate and experienced traders looking for a great asset variety on CFDs
  • Experienced traders looking to trade options over 17 asset classes
  • Share and ETF traders looking for a comprehensive offering
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

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
  • FCA (UK)
  • ASIC (Australia)
  • MAS (Singapore)
  • ADGM (United Arab Emirates)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • Very intuitive order placement panelEasy to execute a trade through various markets
  • Professional web platform with customisable workspaces
  • Integrated Reuters news feed directly in the platform
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • All assets are CFDs, there is no possibility to buy real stocks or ETFs
  • Cryptocurrency offering is below most of its competitors (only 5)
  • While easy to execute a trade, platform is difficult for a novice to navigate
  • 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
1983 2017
💳 Minimum Deposit
$, €, £ - 100 $500
💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Electron
  • PayPal
  • Bank Transfer
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
💵 Account Base Currencies
8 - GBP, USD, EUR, AUD, JPY, PLN, HUF, CHF. 11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, SY, 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, ETFs,, currencies, commodities, cryptocurrencies, indices and bonds.

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

📙 Stocks
4,500+ 200
📘 Currency Pairs
84 40
📗 Commodities
30 24
📕 Indices
25 18
📔 ETFs
740 N/A
💸 Cryptocurrencies
5 10
📒 Bonds
11 N/A
📓 Options
Yes, option chains over 17 different products N/A
📗 Futures
N/A N/A
📝 Notes:

City index offers both CFDs and spread betting.<

All of Legacy FX assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
Varies per share starting from fractional share trading (eg: 0.1 shares) N/A
📉 Minimum ETFs Trade Size
Varies per ETFs starting from fractional ETFs trading (eg: 0.1 ETFs) N/A
📈 Minimum Crypto Trade Size
Varies per cryptocurrency - (eg: 0.01 BTC, 1 LTC) N/A
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies per commodity $10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
Varies per bond N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
Varies per option 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
No Yes
💻 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
Yes No
Fees
💰 Inactivity Fee

Yes, 12£ monthly after 1 year of inactivity

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

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
  • Spread betting markets have no commission
  • CFDs or FX trading has no commission as well (except equities: shares & ETFs)
  • Equity commissions depend on the market’s location (eg: UK and Europe have a 0.08% of transaction value fee, US equities and Asian ones have different percentages as well)
  • The minimum equity commission rates are $10, £10 or 10€.

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

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 60 Pips Dynamic - From 120 Pips
📈 GOLD
From 50 Pips Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
Dynamic - From $120 Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
Yes No

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