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

Vs.

LegacyFX
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77% of retail CFD accounts lose money.

Swissquote Vs. LegacyFX - Compare and Choose the Right One

Updated Jul 12 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

77% of retail CFD accounts lose money.

Overview

Swissquote is a global broker and investment bank headquartered in Switzerland that offers traditional securities and CFD trading along with advanced research tools.

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
  • Traditional equity investors looking for a broad range of markets
  • Experienced traders looking to benefit from their amazing research tools
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

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
  • FCA (UK)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MFSA (Malta)
  • HKMA (Hong Kong)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • Outstanding asset offering with more than 60 exchanges across the world
  • Amazing research and analysis tools for all trader levels
  • Thematic investments with preconfigured product baskets
  • Offers banking services along with debit card
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • Their proprietary platform lacks many features and is not user friendly
  • Their commissions are extremely high
  • Overall everything feels complicated to use
  • 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
1996 2017
💳 Minimum Deposit

Varies per account type and selected trading platform. From $0 up to $5,000.

$500
💰 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
21 - AED, AUD, CAD, EUR, DKK USD, GBP, HKD, HUF, ILS, CHF, JPY, PLN, NOK, SGD, MXN, NZD, SEK, TRY, THB, ZAR 11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, JP, SY, IR. 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
Assets
📚 Available Assets
  • Real stocks, ETFs and options
  • CFDs on currencies, commodities, stocks, indices, ETFs, cryptocurrencies and bonds

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

📙 Stocks
60 Stock Exchanges 200
📘 Currency Pairs
80+ 40
📗 Commodities
12 CFDs 24
📕 Indices
26 CFDs 18
📔 ETFs
1400 + N/A
💸 Cryptocurrencies
12 CFDs 10
📒 Bonds
54,000 + / 3 CFDs N/A
📓 Options
6 Exchanges N/A
📗 Futures
6 Exchanges N/A
📝 Notes:
N/A

All of Legacy FX assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
From $50 N/A
📉 Minimum ETFs Trade Size
From $50 N/A
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots) N/A
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
From $50 $10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
From $50 N/A
📈 Minimum Futures Trade Size
From $50 N/A
📉 Minimum Options Trade Size
From $50 N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:500
✍ 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
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee
No

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

💰 Deposit Fees
No No
💰 Withdrawal Fees
$10 per withdrawal No
💰 Commissions

For CFDs there are no commissions as the spreads are the cost. For other assets from $9 up to $210 based on transaction volume and depending on the exchange.

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

Spreads
📈 EUR/USD
From 0 Pips to 1.3 Pips Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 60 Pips Dynamic - From 120 Pips
📈 GOLD
N/A Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
N/A N/A
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
N/A Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
Yes No

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