Plus500
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77% of retail CFD accounts lose money.

Vs.

LegacyFX
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74-89% of retail CFD accounts lose money.

Plus500 Vs. LegacyFX - Compare and Choose the Right One

Updated May 26 2022

Visit

77% of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

Plus500 is an international broker specialised in CFD trading with a big range of assets including CFDs based on American options

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
  • Intermediate traders looking to trade short term
  • Experienced traders looking to speculate using CFDs based on options
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

3

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
  • CySec (Cyprus)
  • FCA (UK)
  • ASIC (Australia)
  • MAS (Singapore)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • CFDs on american options offered
  • Low minimum trade sizes
  • Propietary platform with multi-charting tools
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • No ability to remove leverage
  • All instruments are CFDs, you can't buy underlying assets (real stocks or cryptocurrencies)
  • 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
N/A N/A
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
2008 2017
💳 Minimum Deposit
$, €, £ - 100 $500
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Skrill
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
💵 Account Base Currencies
16 - USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, SGD. 11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, CU, SY, IR. US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, ETFs, currencies, commodities, cryptocurrencies, indices and options.

CFDs on currencies, commodities, indices, cryptocurrency and stocks.

📙 Stocks
2,000+ 200
📘 Currency Pairs
70 40
📗 Commodities
25 24
📕 Indices
26 18
📔 ETFs
95 N/A
💸 Cryptocurrencies
14 10
📒 Bonds
N/A N/A
📓 Options

Option CFDs (Calls and Puts) on: Alphabet, Facebook, Apple, Deutsche Bank, Snap, Twitter, Amazon, Microsoft, Netflix, Tesla and NIO along with major indices and EUR/USD.

N/A
📗 Futures
N/A N/A
📝 Notes:

All of Plus500's assets are CFDs.

All of Legacy FX assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
Varies by Stock (Eg: 0.05 units of Tesla) N/A
📉 Minimum ETFs Trade Size
Varies by ETF (Eg: 0.5 units of XLK) N/A
📈 Minimum Crypto Trade Size
Varies by Crypto (Eg: 0.001 BTC) N/A
📉 Minimum FX Trade Size
$1,000 $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies by Commoditty (Eg: 0.2 Troy ounces of Gold) $10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
Varies by Option (Eg: 5 contracts of Tesla Calls) N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:300 Up to 1:500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
No No
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
Yes No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee
Yes, $10 every 3 months

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

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
No

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

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 70 Pips Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 30 Pips Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - From $5.2 N/A
📈 XLK (ETF - CFD)
Dynamic - From 7 Pips N/A
📉 BTC
Dynamic - From $136 Dynamic - From $505
Research and Analysis
⭐ Watchlists
No, only allows setting an individual favourites list Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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