Interactive Brokers Vs. LegacyFX - Compare Trustworthiness, Capabilities, Fees and Legitimacy


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Overview
Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.	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
Seasoned investors looking for a one-stop shop to cover a variety of needs Global investors who seek the most reliable discount service available Traders from intermediate to advanced level	Traders looking for a CySec broker that offers a trading signals service
Licenses
Financial Licenses Regulation Regulated Top-tier Licenses 10 Other Licenses 1 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
SEC (United States) FINRA (United States) FCA (United Kingdom) ASIC (Australia) IIROC (Canada) MNB (Hungary) BSE (India) CBI (Ireland) FSA (Japan) CSSF (Luxembourg) CSSF MAS (Singapore)	CySec (Cyprus) VFSC (Vanuatu)
The Good
High regulation Exceptional number of investment instruments (Above 100,000+) Competitive discount fees	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
Complicated account opening process Platforms are not beginner friendly Narrow choice of deposit options (Mostly bank transfers)	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
1978	2017
💳 Minimum Deposit Range
0	From $500 to $25,000
💰 Payment Methods
Bank Transfer ACH (US only) Check (US only) Debit Card (US only) BPAY (Australia only)	Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat
💵 Account Base Currencies
23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
Yes	No
❌ Restricted Countries
AF, SY, SO, SD, LY, NG, BI.	US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
Yes	No
📊 DMA Account
Yes	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
Yes	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
173,105	292
Exchange Access
78	0
📙 Real Stocks
100,000	0
📙 Stock CFDs
0	200
📘 Currency Pairs
105	0
📘 Currency Pair CFDs
0	40
📗 Commodities
0	0
📗 Commodities CFDs
0	24
📕 Indices
0	0
📕 Indices CFDs
0	18
📔 ETFs
13,000	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
0	10
📒 Bonds
60,000	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
Variable - Fractions Allowed	Unavailable
📉 Minimum ETFs Trade Size
Variable - Fractions Allowed	Unavailable
📈 Minimum Crypto Trade Size
Unavailable	Unavailable
📉 Minimum FX Trade Size
$25,000 (0.25 lots)	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 Ounce of Gold)	$10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
$1,000 for corporate/muni bonds, $1 million for treasury bonds	Unavailable
📈 Minimum Futures Trade Size
1 Contract	Unavailable
📉 Minimum Options Trade Size
1 Contract	Unavailable
💪 Retail Leverage
Unavailable	30
💪 Professional Leverage
Unavailable	500
✍ Customisable Leverage
No	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	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
No	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
None	Yes, 10 units of account base currency after 90 days of inactivity.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
One free withdrawal per month, subsequent are $10 per withdrawal or equivalent	None
💰 Commissions
Commissions depend on market and residency: US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value. European stocks have €3 minimum and 0.05% trade value. Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1. Options start at $0.25 per contract and go as low as $0.15 per contract. Futures start at $0.85 per contract and go as low as $0.25 per contract	Yes, ranging from 0.15% to 0.45% of trade value for stocks only.
Spreads
📈 EUR/USD
Dynamic - From 0.1 Pips	Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 01 Pip	Dynamic - From 120 Pips
📈 GOLD
Unavailable	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - From $0.50	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Unavailable	Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	No
📡 Reuters Feed
Yes	No
📡 Educational Content
No	No
📡 Live Chat Support
Yes	No
📡 Video Tutorials
No	No
📡 Account Management
Yes	Yes
📡 Webinars
No	No