LegacyFX Vs. XM - 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.	XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.
Best For
Traders looking for a CySec broker that offers a trading signals service	Experienced traders looking to trade shares in high volume using their Zero account MetaTrader users wishing to explore XM's offering while maintaining their preferred platforms
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 1 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
CySec (Cyprus) VFSC (Vanuatu)	ASIC (Australia) CySec (Cyprus) ADGM (United Arab Emirates)
The Good
Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)	Competitive commissions on their Zero account Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)
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	No proprietary platforms or technology Expensive spreads and trading fees Lack of asset variety when compared to other brokers in the same range
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	2009
💳 Minimum Deposit Range
From $500 to $25,000	$5
💰 Payment Methods
Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat	Visa Mastercard Bank Transfer Neteller Skrill
💵 Account Base Currencies
11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.	11 - USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.
🗽 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.
📊 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	1,382
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
200	1,286
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
40	57
📗 Commodities
0	0
📗 Commodities CFDs
24	15
📕 Indices
0	0
📕 Indices CFDs
18	14
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
10	0
📒 Bonds
0	0
📒 Bonds CFDs
0	0
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	10
Trading Experience
📈 Minimum Stock Trade Size
Unavailable	Variable - Fractions allowed
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Unavailable	Unavailable
📉 Minimum FX Trade Size
$10,000 (0.1 Lots)	$100 (0.001 Lots)
📈 Minimum Commodities Trade Size
$10,000 (0.1 Lots)	Varies by Commodity (Eg: 0.01 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Varies by Commodity (Eg: 0.01 Troy ounce of Gold)
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
30	30
💪 Professional Leverage
500	500
✍ Customisable Leverage
No	Yes
🎲 Deleveraged Trading
No	No
🎓 Demo Account
Yes	Yes
📱 IOS App
No	No
📱 Android App
No	No
📺 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	Yes
👫 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.	Yes, $15 one time payment after 1 year of inactivity and then $5 monthly.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Yes, ranging from 0.15% to 0.45% of trade value for stocks only.	Yes on Zero accounts ($7 per lot round turn).
Spreads
📈 EUR/USD
Dynamic - From 1.6 Pips	Dynamic - From 1.7 Pips
📉 SP500
Dynamic - From 120 Pips	Dynamic - From 40 Pips
📈 GOLD
Dynamic - From 63 Pips	Dynamic - From 35 Pips
📉 TSLA (Stock CFD)
Unavailable	Dynamic - From $9.4
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $505	Unavailable
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
No	No
📡 Reuters Feed
No	No
📡 Educational Content
No	Yes
📡 Live Chat Support
No	No
📡 Video Tutorials
No	No
📡 Account Management
Yes	Yes
📡 Webinars
No	Yes