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


Visit 77% of retail CFD accounts lose money.	Visit 74-89% 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.	TMGM is an Australian broker specialised in financial derivatives known as contract-for-differences (CFDs). Operating since 2013, TMGM provides trading in forex, stocks, indices, cryptocurrencies and commodities.
Best For
Traders looking for a CySec broker that offers a trading signals service	Swing traders who can use high leverage Stock traders who do not have access or funds to trade with specialised brokers
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)	ASIC (Australia) FMA (New Zealand) VFSC (Vanuatu)
The Good
Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)	High and flexible leverage No deposit or withdrawal fees Supports Expert Advisors (EAs), hedging and news trading
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	Only has financial derivatives (CFDs) Inactivity fee is tied to minimum account balance
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	2013
💳 Minimum Deposit Range
From $500 to $25,000	$100
💰 Payment Methods
Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat	Bank Transfer Credit cards Debit cards FasaPay Neteller RMB Instant Revolut Paytrust Skrill Sticpay UnionPay Wise
💵 Account Base Currencies
11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.	6 - EUR, USD, GBP, AUD, NZD, CAD.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.	US.
📊 STP Account
No	Yes
📊 DMA Account
No	Yes
📊 ECN Account
No	Yes
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
292	12,091
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
200	12,000
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
40	55
📗 Commodities
0	0
📗 Commodities CFDs
24	6
📕 Indices
0	0
📕 Indices CFDs
18	15
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
10	15
📒 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	1 Share
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Unavailable	Varies per 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 (0.01 lots for gold, 1 lot for Crude Oil)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
30	500
💪 Professional Leverage
500	Unavailable
✍ Customisable Leverage
No	Yes
🎲 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	No
📊 Multi-chart Tools
Yes	Yes
👬 Copy Trading
No	No
👫 Social Trading
No	No
🔑 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.	$30 fee if there is no activity for 6 months or if the account balance falls below $500.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Yes, ranging from 0.15% to 0.45% of trade value for stocks only.	Yes, from $3.5 per lot round turn
Spreads
📈 EUR/USD
Dynamic - From 1.6 Pips	Dynamic - From 0 pips
📉 SP500
Dynamic - From 120 Pips	Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 63 Pips	Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Unavailable	Dynamic - From $0.48
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $505	Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	Yes
🗓 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