IC Markets
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76.27% of retail CFD accounts lose money.

Vs.

LegacyFX
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77% of retail CFD accounts lose money.

IC Markets Vs. LegacyFX - Compare and Choose the Right One

Updated Nov 14 2022

Visit

76.27% of retail CFD accounts lose money.

Visit

77% of retail CFD accounts lose money.

Overview

IC Markets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.

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
  • Professional traders looking for Interbank rates
  • High volume traders that will save great amounts of costs with their low spreads and commissions
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

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)
  • CySec (Cyprus)
  • FSA (Seychelles)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • Customisable leverage per asset before opening trades
  • Interbank rates and low commissions
  • Great platform variety
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • Avaliable assets are limited (Also No ETFs)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • 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
2007 2017
💳 Minimum Deposit Range
$200 From $500 to $25,000
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Bitcoin
  • Sofort
  • Paypal
  • Neteller
  • Skrill
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
💵 Account Base Currencies
10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD. 11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, IL.

US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.

📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
1,737 292
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
1,600 200
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
61 40
📗 Commodities
0 0
📗 Commodities CFDs
22 24
📕 Indices
0 0
📕 Indices CFDs
25 18
📔 ETFs
0 0
📔 ETFs CFDs
0 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
18 10
📒 Bonds
0 0
📒 Bonds CFDs
11 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
Varies by Cryptocurrency (Eg: 0.01 BTC) Unavailable
📉 Minimum FX Trade Size
$1,000 - 0.01 Lots $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
$1,000 - 0.01 Lots $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
30 30
💪 Professional Leverage
500 500
✍ Customisable Leverage
Yes 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
📺 cTrader
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes 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

No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn.

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

Spreads
📈 EUR/USD
Dynamic - From 0 to 0.6 Pips Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 20 to 45 Pips Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 30 Pips Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread Unavailable
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $8.7 to $42 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
📡 Educational Content
Yes No
📡 Live Chat Support
Yes No
📡 Video Tutorials
No No
📡 Account Management
No Yes
📡 Webinars
No No