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

Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.

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.

• Traders looking for a CySec broker that offers a trading signals service

• 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

• CySec (Cyprus)
• VFSC (Vanuatu)

• 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)

• Proprietary signals channel (untested by us)
• Fixed spreads (at their discretion subject to change)

• High regulation
• Exceptional number of investment instruments (Above 100,000+)
• Competitive discount fees

• 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

• Complicated account opening process
• Platforms are not beginner friendly
• Narrow choice of deposit options (Mostly bank transfers)

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• 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.

• Visa
• Mastercard
• Neteller
• Skrill
• Klarna
• iDeal
• GiroPay
• Perfect Money
• AVOPayments
• eftPay
• Volt
• Cash
• Load
• Jeton
• Gigadat

• Bank Transfer
• ACH (US only)
• Check (US only)
• Debit Card (US only)
• BPAY (Australia only)

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

AF, SY, SO, SD, LY, NG, BI.

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

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

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

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