Saxo Bank Vs. LegacyFX - Compare Trustworthiness, Capabilities, Fees and Legitimacy


Visit 69% of retail CFD accounts lose money.	Visit 77% of retail CFD accounts lose money.
Overview
Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.	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
Professional investors looking to trade a variety of markets High net worth traders or investors	Traders looking for a CySec broker that offers a trading signals service
Licenses
Financial Licenses Regulation Regulated Top-tier Licenses 7 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
ASIC (Australia) HKMA (Hong Kong) ADGM (United Arab Emirates) FINMA (Switzerland) MAS (Singapore) FFAJ (Japan) AFM (Netherlands)	CySec (Cyprus) VFSC (Vanuatu)
The Good
Exceptional selection of financial instruments at one place 2 highly-customizable proprietary trading platforms API integration for 3rd party services like Excel or TradingView	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
High minimum deposit for certain countries Withdrawals via bank transfer only High fees on options and futures	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
4 days	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
1992	2017
💳 Minimum Deposit Range
From $500 up to $2,000	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
26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, BR, ES, IN, KE, MX, NG, PK, ZA.	US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
Yes	No
📊 DMA Account
Yes	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
49,339	292
Exchange Access
0	0
📙 Real Stocks
30,000	0
📙 Stock CFDs
0	200
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
182	40
📗 Commodities
0	0
📗 Commodities CFDs
19	24
📕 Indices
0	0
📕 Indices CFDs
29	18
📔 ETFs
5,400	0
📔 ETFs CFDs
5,400	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
9	10
📒 Bonds
5,000	0
📒 Bonds CFDs
0	0
📓 Options
3,000	0
📓 Options CFDs
0	0
📗 Futures
300	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC)	Unavailable
📉 Minimum FX Trade Size
$1,000 (0.01 lots)	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Unavailable	$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
66	500
✍ Customisable Leverage
No	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	No
📱 Android App
Yes	No
📺 MetaTrader 4
No	No
📺 MetaTrader 5
No	Yes
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
Yes	No
💻 Proprietary Platform
Yes	No
📊 Multi-chart Tools
Yes	Yes
👬 Copy Trading
Yes	No
👫 Social Trading
No	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
Yes	No
Fees
💰 Inactivity Fee
Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.	Yes, 10 units of account base currency after 90 days of inactivity.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract.	Yes, ranging from 0.15% to 0.45% of trade value for stocks only.
Spreads
📈 EUR/USD
Dynamic - From 0.4 to 0.8 Pips	Dynamic - From 1.6 Pips
📉 SP500
Unavailable	Dynamic - From 120 Pips
📈 GOLD
Unavailable	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Unavailable	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Unavailable	Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	No
📡 Reuters Feed
No	No
📡 Educational Content
No	No
📡 Live Chat Support
Yes	No
📡 Video Tutorials
No	No
📡 Account Management
Yes	Yes
📡 Webinars
No	No