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

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

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

• Forex traders of all levels (from beginner to advanced)

• Traders looking for a CySec broker that offers a trading signals service

• CFTC (U.S)
• NFA (U.S)
• ASIC (Australia)
• FCA (UK)
• MAS (Singapore)
• IIROC (Canada)
• FFAJ (Japan)
• BVI (British Virgin Islands)

• CySec (Cyprus)
• VFSC (Vanuatu)

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• Proprietary signals channel (untested by us)
• Fixed spreads (at their discretion subject to change)

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

• 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

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• 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.

• Visa
• Mastercard
• Bank Transfer
• Paypal

• Visa
• Mastercard
• Neteller
• Skrill
• Klarna
• iDeal
• GiroPay
• Perfect Money
• AVOPayments
• eftPay
• Volt
• Cash
• Load
• Jeton
• Gigadat

AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.

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

$10 after 1 year of inactivity.

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

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

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