LegacyFX
Visit

77% of retail CFD accounts lose money.

Vs.

OvalX
Visit

73.85% of retail CFD accounts lose money.

LegacyFX Vs. OvalX - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Dec 19 2022

Visit

77% of retail CFD accounts lose money.

Visit

73.85% of retail CFD accounts lose money.

Overview

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

OvalX (formerly ETX Capital) offers 60 currency pairs and a wide selection of equities for the beginning and experienced investors with no deposit and withdrawal fees.

Best For
  • Traders looking for a CySec broker that offers a trading signals service
  • Forex traders for variety of currencies and high net worth equities
  • Traders seeking commission free equities inside their 250 commission-less selection
  • Traders who want to trade commodity futures and bonds 
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CySec (Cyprus)
  • VFSC (Vanuatu)
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
The Good
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
  • Commission-free trades for 250 equities
  • Low minimum deposit to open standard account (100£)
  • Wide selection of commodity futures and bonds
  • Decent educational material for market research, including seminars on indices, commodities and currencies
The Bad
  • 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
  • Doesn’t provide live news feed on standard account
  • No ability to purchase real stocks or ETFs (All assets are CFDs)
  • Expensive commissions on shares (Eg minimum $15 on US shares, 10 € on EU shares)
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 1965
💳 Minimum Deposit Range
From $500 to $25,000 From $100 to $10,000
💰 Payment Methods
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
💵 Account Base Currencies
11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR. 3 - EUR, USD, GBP
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

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

US, BE, CN, SG, CH.

📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
292 5,174
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
200 5,000
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
40 60
📗 Commodities
0 0
📗 Commodities CFDs
24 17
📕 Indices
0 0
📕 Indices CFDs
18 20
📔 ETFs
0 0
📔 ETFs CFDs
0 19
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
10 5
📒 Bonds
0 0
📒 Bonds CFDs
0 8
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 45
Trading Experience
📈 Minimum Stock Trade Size
Unavailable 1 Share
📉 Minimum ETFs Trade Size
Unavailable 1 ETF
📈 Minimum Crypto Trade Size
Unavailable Varies by Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$10,000 (0.1 Lots) $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
$10,000 (0.1 Lots) Varies per commodity (Eg 0.1 for WTI, 1 for Cotton)
📉 Minimum Bonds Trade Size
Unavailable 1 Bond
📈 Minimum Futures Trade Size
Unavailable Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds)
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
No Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
Yes No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee

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

None
💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

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

Depending on asset class. (Eg: U.S shares have a 2 cents per share charge with a minimum of $15 per order, European shares have a 0.1% of transaction value charge with a minimum 10 € charge)

Spreads
📈 EUR/USD
Dynamic - From 1.6 Pips Dynamic - From 0.6 Pips
📉 SP500
Dynamic - From 120 Pips Dynamic - From 60 Pips
📈 GOLD
Dynamic - From 63 Pips Dynamic - From 60 Pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - From $13
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $505 Dynamic - From $226.4
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes No
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
No No
📡 Video Tutorials
No No
📡 Account Management
Yes No
📡 Webinars
No No