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


Visit 63.10% of retail CFD accounts lose money.	Visit 77% of retail CFD accounts lose money.
Overview
Nextmarkets is a german broker founded in 2014 that specialises in commission free stocks and ETFs trading through their proprietary platform which offers an expert advisory service via live coaches that suggest their trading ideas.	Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.
Best For
New investors and traders looking to explore their social and copy trading offering via live coaches New investors and traders looking for a simple and friendly mobile app for commission-free investing in stocks or equities	Traders looking for a CySec broker that offers a trading signals service
Licenses
Financial Licenses Regulation Regulated Top-tier Licenses 0 Other Licenses 1 Provided by TheTradingBible.com Learn More	Financial Licenses Regulation Regulated Top-tier Licenses 0 Other Licenses 2 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
MFSA (Malta Financial Services Authority)	CySec (Cyprus) VFSC (Vanuatu)
The Good
Their “trading ideas” and “live coaches” offering is quite interesting and provides a lot of value for new traders Their proprietary platform is very simple and easy to use Their equities offering is completely commission-free	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
Asides from stocks and ETFs, their asset offering lacks variety Their web platform is completely impractical to use for professional trading They don’t let you enjoy your demo trading experience in peace, there is a constant pop-up asking you to fund your account at all times	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
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
2014	2017
💳 Minimum Deposit Range
0	From $500 to $25,000
💰 Payment Methods
Visa Mastercard Bank Transfer	Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat
💵 Account Base Currencies
2 - EUR, GBP.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, CA, SY, IR.	US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
No	No
📊 DMA Account
Yes	No
📊 ECN Account
No	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
18,037	292
Exchange Access
0	0
📙 Real Stocks
8,000	0
📙 Stock CFDs
8,000	200
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
22	40
📗 Commodities
0	0
📗 Commodities CFDs
5	24
📕 Indices
0	0
📕 Indices CFDs
5	18
📔 ETFs
1,000	0
📔 ETFs CFDs
1,000	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
4	10
📒 Bonds
0	0
📒 Bonds CFDs
1	0
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
1 Share	Unavailable
📉 Minimum ETFs Trade Size
1 ETF	Unavailable
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (eg: 0.1 BTC)	Unavailable
📉 Minimum FX Trade Size
$1,000 (0.01 Lots)	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 contract of Gold - 1 ounce)	$10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
30	30
💪 Professional Leverage
100	500
✍ Customisable Leverage
No	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	No
📱 Android App
Yes	No
📺 MetaTrader 4
Yes	No
📺 MetaTrader 5
No	Yes
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
No	No
💻 Proprietary Platform
Yes	No
📊 Multi-chart Tools
No	Yes
👬 Copy Trading
Yes	No
👫 Social Trading
Yes	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
No	No
Fees
💰 Inactivity Fee
None	Yes, 10 units of account base currency after 90 days of inactivity.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
None	Yes, ranging from 0.15% to 0.45% of trade value for stocks only.
Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips	Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 50 Pips	Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 40 Pips	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - From $2	Unavailable
📈 XLK (ETF - CFD)
Dynamic - From $0.1 to 0.3	Unavailable
📉 BTC
Dynamic - From $125	Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
No	Yes
📜 Integrated Newsfeed
No	No
📡 Reuters Feed
No	No
📡 Educational Content
Yes	No
📡 Live Chat Support
Yes	No
📡 Video Tutorials
Yes	No
📡 Account Management
No	Yes
📡 Webinars
Yes	No