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


Visit Your capital is at risk.	Visit 77% of retail CFD accounts lose money.
Overview
OctaFX is an international FX broker operating as an incorporated company from St. Vincent and the Grenadines specialising in currencies trading via MetaTrader 4 & 5.	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
Traders looking for a high leverage off-shore broker New traders looking to experiment using MT4 & 5 with a no commission low-cost broker	Traders looking for a CySec broker that offers a trading signals service
Licenses
Financial Licenses Regulation Unregulated Top-tier Licenses 0 Other Licenses 0 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
None	CySec (Cyprus) VFSC (Vanuatu)
The Good
High leverage offered due to no regulatory restrictions MetaTrader 4 & 5 platforms with their own copy trading integration Low minimum deposit	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
Despite having financial licenses, OctaFX does not operate using them, meaning that they are an unregulated broker. Their asset offering is extremely limited (80 instruments)	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
2011	2017
💳 Minimum Deposit Range
$25	From $500 to $25,000
💰 Payment Methods
Visa Mastercard Maestro Skrill Neteller Bitcoin Ethereum USDT (Tether) Litecoin Dogecoin Bank Transfer	Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat
💵 Account Base Currencies
2 - EUR, USD.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, CA.	US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
Yes	No
📊 DMA Account
No	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
80	292
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
0	200
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
35	40
📗 Commodities
0	0
📗 Commodities CFDs
5	24
📕 Indices
0	0
📕 Indices CFDs
10	18
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
30	10
📒 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	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots)	Unavailable
📉 Minimum FX Trade Size
$1,000 (0.01 Lots)	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots)	$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
500	30
💪 Professional Leverage
Unavailable	500
✍ Customisable Leverage
Yes	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	No
📱 Android App
Yes	No
📺 MetaTrader 4
Yes	No
📺 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
Yes	No
👫 Social Trading
Yes	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
Yes	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 20 Pips	Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 180 Pips	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Unavailable	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $57	Dynamic - From $505
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	No
📡 Live Chat Support
No	No
📡 Video Tutorials
No	No
📡 Account Management
No	Yes
📡 Webinars
No	No