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


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Overview
ThinkMarkets is a global broker headquartered in Australia that offers real stocks and ETFs along with CFDs on stocks, etfs, commodities, indices and cryptocurrencies accompanied by their proprietary platform: ThinkTrader.	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
Passive investors looking to buy, hold or transfer real shares or ETFs from ASX Active traders looking to exploit their low spreads on CFDs MetaTrader 4 & 5 traders looking for a convenient offering	Traders looking for a CySec broker that offers a trading signals service
Licenses
Financial Licenses Regulation Regulated Top-tier Licenses 2 Other Licenses 2 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) ASIC (Australia) FSAS (Seychelles) FSCA (South Africa)	CySec (Cyprus) VFSC (Vanuatu)
The Good
Possibility to invest in real stocks and ETFs or trade CFDs Proprietary platform ThinkTrader is smooth and user friendly Spreads are very competitive when compared to similar competitors	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
Real stocks or ETFs are only from ASX (Australian Securities Exchange) Expensive stock trading commissions ($8 flat fee for ASX shares or ETFs) While their stock and ETFs offering is great, they lack variety in all other asset classes	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
2010	2017
💳 Minimum Deposit Range
From 0 to $500	From $500 to $25,000
💰 Payment Methods
Visa Mastercard Neteller Skrill Bank Transfer Bitcoin (BTC) Ethereum (ETH) Tether (USDT)	Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat
💵 Account Base Currencies
6 - EUR, AUD, CHF, GBP, JPY, USD.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, CA, SY, IR.	US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
No	No
📊 DMA Account
Yes	No
📊 ECN Account
No	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
4,555	292
Exchange Access
0	0
📙 Real Stocks
3,100	0
📙 Stock CFDs
1,246	200
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
47	40
📗 Commodities
0	0
📗 Commodities CFDs
11	24
📕 Indices
0	0
📕 Indices CFDs
27	18
📔 ETFs
0	0
📔 ETFs CFDs
103	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
21	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
Variable - Fractions Allowed	Unavailable
📉 Minimum ETFs Trade Size
Variable - Fractions Allowed	Unavailable
📈 Minimum Crypto Trade Size
Varies per cryptocurrency (eg: from 0.01 units of BTC)	Unavailable
📉 Minimum FX Trade Size
$1,000 (0.01 Lots)	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 ounce of Gold)	$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
500	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
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
No	No
💻 Proprietary Platform
Yes	No
📊 Multi-chart Tools
Yes	Yes
👬 Copy Trading
Yes	No
👫 Social Trading
Yes	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
No	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
For Standard account there are no commissions For Zero account there is a commission of $3.5 per lot round turn For real stocks and ETFs investing, there is a flat fee of $8 per trade (in-and-out) or if the trade value is above $200,000 then a 0.05% fee per trade.	Yes, ranging from 0.15% to 0.45% of trade value for stocks only.
Spreads
📈 EUR/USD
Dynamic - From 0.4 to 1 Pip	Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 40 Pips	Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 20 Pips	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Unavailable	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $30	Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	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