LegacyFX
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77% of retail CFD accounts lose money.

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

Updated Dec 19 2022

Visit

77% of retail CFD accounts lose money.

Visit

Your Capital is at risk.

Overview

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

ThinkMarkets is a global broker headquartered in Australia that offers real stocks and ETFs along with CFDs on stocks, etfs, commodities, indices and cryptocurrencies accompanied by their proprietary platform: ThinkTrader.

Best For
  • Traders looking for a CySec broker that offers a trading signals service
  • Passive investors looking to buy, hold or transfer real shares or ETFs from ASX
  • Active traders looking to exploit their low spreads on CFDs
  • MetaTrader 4 & 5 traders looking for a convenient offering
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

2

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CySec (Cyprus)
  • VFSC (Vanuatu)
  • FCA (UK)
  • ASIC (Australia)
  • FSAS (Seychelles)
  • FSCA (South Africa)
The Good
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
  • Possibility to invest in real stocks and ETFs or trade CFDs
  • Proprietary platform ThinkTrader is smooth and user friendly
  • Spreads are very competitive when compared to similar competitors
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
  • Real stocks or ETFs are only from ASX (Australian Securities Exchange)
  • Expensive stock trading commissions ($8 flat fee for ASX shares or ETFs)
  • While their stock and ETFs offering is great, they lack variety in all other asset classes
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 2010
💳 Minimum Deposit Range
From $500 to $25,000 From 0 to $500
💰 Payment Methods
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Bank Transfer
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
💵 Account Base Currencies
11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR. 6 - EUR, AUD, CHF, GBP, JPY, USD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

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

US, CA, SY, IR.

📊 STP Account
No No
📊 DMA Account
No Yes
📊 ECN Account
No No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
292 4,555
Exchange Access
0 0
📙 Real Stocks
0 3,100
📙 Stock CFDs
200 1,246
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
40 47
📗 Commodities
0 0
📗 Commodities CFDs
24 11
📕 Indices
0 0
📕 Indices CFDs
18 27
📔 ETFs
0 0
📔 ETFs CFDs
0 103
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
10 21
📒 Bonds
0 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
Unavailable Variable - Fractions Allowed
📉 Minimum ETFs Trade Size
Unavailable Variable - Fractions Allowed
📈 Minimum Crypto Trade Size
Unavailable Varies per cryptocurrency (eg: from 0.01 units of 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: 1 ounce of Gold)
📉 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
No No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
No Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
Yes Yes
📺 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 No
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.

  • For Standard account there are no commissions
  • For Zero account there is a commission of $3.5 per lot round turn

For real stocks and ETFs investing, there is a flat fee of $8 per trade (in-and-out) or if the trade value is above $200,000 then a 0.05% fee per trade.

Spreads
📈 EUR/USD
Dynamic - From 1.6 Pips Dynamic - From 0.4 to 1 Pip
📉 SP500
Dynamic - From 120 Pips Dynamic - From 40 Pips
📈 GOLD
Dynamic - From 63 Pips Dynamic - From 20 Pips
📉 TSLA (Stock CFD)
Unavailable Unavailable
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $505 Dynamic - From $30
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
No No
📡 Video Tutorials
No No
📡 Account Management
Yes No
📡 Webinars
No No