LegacyFX Vs Oanda

LegacyFX and Oanda in Detail

The LegacyFX online trading platform gives traders from all over the world access to over 250 financial instruments, Oanda include over 4,000 available instruments. There are over 10,000+ registered customers that have taken advantage of the LegacyFX platform.

LegacyFX are regulated by Cyprus Securities and Exchange Commission (CySEC)(344/17), Bafin (Federal Financial Supervisory Authority).

Oanda is a renowned United States, Canada financial trading brokerage established in 1996.

Oanda serves customers globally and are regulated by CFTC (Commodity Futures Trading Commission) (0325821), NFA (National Futures Association), IIROC (Investment Industry Regulatory Organization of Canada), FCA (Financial Conduct Authority) (542574), MAS (Monetary Authority of Singapore), ASIC (Australian Securities and Investments Commission) (412981), Kanto Bureau (Kanto Local Financial Bureau) (2137), BVI FSC (British Virgin Islands Financial Services Commission) (SIBA/L/20/1130), PFSA (Polish Financial Supervision Authority) (KPWiG-4021-54-1/2004). . Depending on the country you are trading from LegacyFX may serve you from a different business entity to comply with its financial regulators.

Oanda is not listed on any stock market, does not disclose its yearly report on its website. This is not terribly unusual for a broker, but you will want to check all of this out before you continue. Financial regulation is the most important thing to consider. LegacyFX is listed as a publically traded company so are a reputable broker.

Oanda is a popular well known financial trading platform serving over 100,000 customers.

Benefits of LegacyFX and Oanda Compared

Below, we will give you a summary of the benefits LegacyFX and Oanda offer side by side.

LegacyFX offers a minimum deposit of 500 while Oanda have a 0 minimum deposit.

Why smaller trading deposits are good and how LegacyFX and Oanda compare

One primary and self-evident factor to remember is that you must only deposit an amount that fits your financial capacity with either LegacyFX or Oanda. If you have limited financial resources, the broker with the most affordable deposit option will be more appealing. LegacyFX requires a minimum deposit of 500, whereas Oanda mandates a minimum deposit of 0. One additional factor to consider while venturing into more precarious yet potentially lucrative financial instruments is to limit your speculation to a modest proportion of your designated trading funds. It's advisable not to be deterred by a broker's higher minimum deposit, whether it's LegacyFX or Oanda, and instead focus on the comprehensive trading features offered by their platform. Frequently, a higher minimum deposit provides access to a wider range of financial assets and research tools on the trading platform.

LegacyFX allows traders to trade up to 250 financial instruments while Oanda have around 4,000 on their trading platform.

The more instruments available on LegacyFX and Oanda trading platforms the more potential financial instruments you can buy or sell for your portfolio. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you seriously do not want to miss out on a trading opportunity due to the limitations of LegacyFX or Oanda.

The LegacyFX trading platform has 60 stocks listed while Oanda has 0 stocks listed.

LegacyFX allows retail traders to trade the following assets Forex trading, CFD Commodities Trading, CFD Indices trading, CFD Stocks Trading, Cryptocurrency trading, CFD Trading on the LegacyFX MT5, PC, Mac, Mobile Apps, Android (Google Play), iOS (App Store), Web trading platforms.

Alternatively Oanda allows retail traders to trade Forex, CFDs on the Oanda MT5, MT4, WebTrader, fxTrade Mobile Apps, iOS (App Store), Android (Google Play) trading platforms.

Compare LegacyFX and Oanda in more detail below.

Drawbacks of LegacyFX and Oanda Compared

Below we compare what drawbacks LegacyFX and Oanda have side by side.

Various potential downsides can be associated with certain brokers, including LegacyFX and Oanda. One primary drawback is the potential restrictions that may be imposed. Generally, the more diverse investment options available, the more favourable the situation. Another critical aspect to consider is the trading fees and commissions charged by LegacyFX compared to Oanda. High trading fees and commissions must be factored into your profit loss of each live trade. Additionally, essential factors to consider are the quality of trading research tools, educational resources, and the overall user-friendliness of LegacyFX versus Oanda.

LegacyFX Vs Oanda Available Financial Markets

The saying 'Variety is the spice of life' holds for financial markets. It is always advisable to have a diversified investment portfolio whether trading with LegacyFX or Oanda. A diversified portfolio with LegacyFX or Oanda can safeguard your investments from significant downturns in any particular market. For instance, when one stock rises, others may follow suit.

Conversely, when the market takes a downturn, it can be disastrous for your investments. The most effective investment portfolios cover potential risks and encompass many businesses and stocks. When creating a diverse investment portfolio with brokers like LegacyFX or Oanda, it is recommended to have access to a variety of tradable assets, commodities, and securities on different trading platforms such as LegacyFX and Oanda.

LegacyFX Vs Oanda Cryptocurrency Trading

Since the creation of Bitcoin, the world of cryptocurrencies has been booming, including on trading platforms like Both LegacyFX and Oanda, and it's not difficult to see why. Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares. Both LegacyFX and Oanda offer some form of cryptocurrency trading.

Bitcoin is the most popular cryptocurrency, but thousands of altcoins could experience a similar rise. Altcoins follow the same trajectory as Bitcoin, similar to how stocks rise and fall with the market.

Investing in cryptocurrencies with LegacyFX or Oanda is considered a high-risk venture. The prices of cryptocurrencies can experience extreme highs and lows. If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with LegacyFX or Oanda could lead to one of the most exciting trades you've ever made, depending on the market. Please remember that cryptocurrency availability on LegacyFX, Oanda, and all brokers are subject to regulation.

We compare LegacyFX vs Oanda Crypto options below side by side.

LegacyFX Vs Oanda Commission and Fees

knowing your trading and commission fees with LegacyFX vs Oanda is extremely important. For the majority of the LegacyFX 250 financial instruments and Oanda 4,000 available financial instruments .

The price you are being presented with will factor in the fee the broker takes. For example, if a financial asset is at 79.6. You might have to pay 79 to enter. Therefore, you will start with a small loss with LegacyFX and Oanda. The bigger the fee, the bigger the issue is. Most alarmingly, some financial assets charge you to hold on to the asset overnight or over the weekend. Some commodities and stocks you are using leverage on may have overnight charges. Please check your fees with LegacyFX and Oanda before you invest because you must know what you are paying.

You ideally want to choose a broker like LegacyFX or Oanda that does not charge too much for withdrawal fees. High trading fees and commissions must be taken into your profit loss calculations. The fees will be noticeable if you have a low budget and do not intend to invest so much with LegacyFX or Oanda. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10.

Your location or residence will have an impact on your potential LegacyFX and Oanda fees, of course. Make sure you do your research and check the commission and fees with both LegacyFX and Oanda before you invest anything.

Some brokers will charge inactivity fees. As the name suggests, this occurs when you have been inactive on your account for a certain period. Also, with LegacyFX or Oanda be aware of or 3rd party payment provider fees and currency conversion fees.

Both LegacyFX and Oanda do charge inactivity fees.

Numerous notifications are usually sent to you as a reminder of dormant LegacyFX and Oanda accounts, giving you sufficient time to decide on the appropriate course of action. You can opt to continue using your LegacyFX or Oanda account, or choose to close it.

Usually, the associated fees for dormant LegacyFX or Oanda accounts are quite minimal, and there is no need to panic, particularly when the issue can be easily resolved. It's always advisable to keep track of your live LegacyFX or Oanda trading account activity to avoid any unnecessary fees or charges.

When you deposit money to a broker like LegacyFX or Oanda you might need to pay deposit fees. The lower, the better. Most preferably, you would have to pay LegacyFX or Oanda nothing for this. If this is the case, it can be a big problem. Constant deposit fees can potentially add up, so this will take some consideration before you sign up.

Let's see how LegacyFX vs Oanda compare side by side for commissions and fees.

LegacyFX Vs Oanda Trading Platforms

We live in an accessible world these days. Therefore, your trading platform has to consider this. The ability to trade with the click of a button is essential and allows you to make trading decisions on the LegacyFX and Oanda platforms when convenient. Without this, you cannot take advantage of every situation that may or may not occur in the financial markets.

Some brokers offer bespoke trading platforms, so if a particular broker does not offer the trading software you are looking for, their proprietary trading platform may be better. You must test this yourself with an LegacyFX or Oanda demo account.

LegacyFX Vs Oanda Mobile Trading

Trading on your mobile with LegacyFX and Oanda can be very useful. Why is this? Well, the stock market sees market movement every second. If you are not near your desktop computer, you will probably be near and have access to your phone and LegacyFX and Oanda mobile trading apps. This way, you can take advantage of all potential trading opportunities mobile trading with LegacyFX or Oanda. For example, a stock might move to an all-time low when you are out. In this instance, having access to mobile trading with LegacyFX or Oanda can help limit your risk and trade on the move.

If you own an iPhone, having an IOS Apple mobile trading app with LegacyFX or Oanda is essential. Likewise, if you have an android phone, it's crucial to verify if LegacyFX or Oanda broker provides an app compatible with Android devices. If you use Microsoft Windows tablets or phones, you must also check if LegacyFX and Oanda have trading apps compatible with your device.

LegacyFX Vs Oanda Trading Account Types Offered

LegacyFX Vs Oanda Demo Account

A demo account with LegacyFX or Oanda is extremely useful for people without trading experience. This way, you risk none of your money and test your trading skills in a safe environment. For people with next to no knowledge of trading, we recommend fully signing up with an LegacyFX and Oanda demo account.

LegacyFX Vs Oanda Micro Account

Micro accounts are trading accounts used by Forex traders that allow them to trade with smaller amounts of capital than standard trading accounts. Micro accounts require a smaller minimum deposit, usually ranging from $1 to $500, and offer smaller trade sizes than standard accounts, allowing traders to manage their risk more effectively.

If you need a micro account check if LegacyFX or Oanda offer micro trading accounts in your region.

Overall, micro accounts provide a flexible and cost-effective way for Forex traders to enter the market and gain valuable trading experience while minimizing risks. However, traders need to remember that Forex trading carries significant risks, and they should always approach trading with caution and sound risk management strategies.

LegacyFX and Oanda do not offer Micro accounts.

LegacyFX Vs Oanda Standard Account

A standard account is available on LegacyFX and Oanda to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users must trade with at least $100. Standard trading accounts are what the majority of people will seek to use.

Both LegacyFX and Oanda do offer clients Standard accounts.

LegacyFX Vs Oanda MAM Account

A MAM (Multi-Account Manager) account is typically used by professional traders. It allows a trader to manage multiple individual trading accounts from a single master account, making it easier to execute trades and manage risk across multiple clients. MAM accounts can help streamline the trading process and improve efficiency for trader and their clients. If you need a MAM account check if MAM accounts are available with LegacyFX or Oanda or alternative.

LegacyFX and Oanda do not offer clients MAM accounts.

LegacyFX Vs Oanda ECN Account

The primary purpose of ECN accounts is to provide traders with faster execution speeds and better pricing by connecting them directly to the market. ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools.

ECN accounts are used for fast and efficient trading, with lower transaction costs and greater transparency. While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account.

If you need a ECN account check they are available with LegacyFX or Oanda or alternative.

LegacyFX and Oanda do not offer clients ECN accounts.

LegacyFX Vs Oanda Islamic Account

An Islamic account is for people who respect the Quran and want to invest in the Islamic stock market. Islamic trading accounts might seem very niche, but it is essential for those concerned as it follows certain ethics concerning the principles of Islam. They are also referred to as swap-free accounts.

If you need a Islamic account check they are available with LegacyFX or Oanda or alternative.

LegacyFX and Oanda do not offer clients Islamic accounts.

LegacyFX Vs Oanda STP Account

Straight Through Processing or STP is where a requested client's trade orders are sent directly to the markets. STP brokers aim to reduce all conflicts of interest. STP is a non-dealing desk trading method aimed mainly at Forex traders.

If you need a STP account check they are available with LegacyFX or Oanda or alternative.

LegacyFX and Oanda do not offer clients STP accounts.

LegacyFX Vs Oanda Managed Account

A managed account is a type of investment account where a professional manager or investment firm is responsible for making investment decisions on behalf of the account owner. The account owner typically retains ownership of the underlying assets but delegates responsibility for managing those assets to the manager.

While some managed accounts require significant investment minimums to access the services of a professional manager, many brokers now offer variations of managed accounts that can be accessed with smaller investment amounts. It's important to note that the fees associated with managed accounts can vary widely depending on the level of service the manager provides and the investment strategy employed. Investors should carefully evaluate the costs and benefits of managed accounts before making an investment decision.

LegacyFX and Oanda do not offer clients Managed accounts.

LegacyFX Vs Oanda Withdrawal and Funding Methods

LegacyFX and Oanda have multiple deposit and withdrawal options. Funding and withdrawing from your LegacyFX and Oanda accounts to your chosen payment method should be straightforward. Lets see how LegacyFX and Oanda compare with each other. Be aware that depending on your payment method, there may be additional processing fees from your payment provider or bank for processing and converting your funds. Not all potential fees will come from LegacyFX or Oanda.

LegacyFX Vs Oanda Customer Support Compared

Customer support is essential when trading. Even professional traders will eventually need the help of LegacyFX or Oanda support. Customer support is especially important for traders starting with little knowledge. If you are starting out, you will want to ensure the LegacyFX and Oanda support is always available when needed. LegacyFX and Oanda customer support is not just useful. broker customer support is crucial to your trading success!

LegacyFX Vs Oanda Live Chat

Live chat is important for several reasons. When you encounter a problem with LegacyFX or Oanda trading platforms, it is nice to know that the problem has the potential to be sorted out then and there. Also, speaking to someone live is much less frustrating than speaking to someone through several emails.

Both LegacyFX and Oanda offer livechat support.

LegacyFX Vs Oanda Email Support

When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either LegacyFX or Oanda you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the LegacyFX or Oanda support team to answer satisfactorily. Email support with LegacyFX and Oanda will be needed.

Both LegacyFX and Oanda offer email support.

LegacyFX Vs Oanda Phone Support

Although most queries can be resolved with the need of a phone call, it is nice when we can explain ourselves with a live human being at either LegacyFX or Oanda. We can get straight to the point, saving us time and frustration.

Both LegacyFX and Oanda offer phone support.

Lets see how LegacyFX and Oanda customer support compare side by side.

LegacyFX Vs Oanda Regulation and Licensing

Never trade on a market that is not sufficiently regulated. Only submit your bank card information or invest money on financially regulated websites. It would help if you made sure with certainty that your money is held with a regulated brokerage. Checking whether LegacyFX and Oanda are regulated is not a hard task. The more reputable and mainstream brokers will proudly display their regulation certificates on their site, and if you cannot see that LegacyFX or Oanda have these in place, please be extremely cautious before you proceed with them.

We compare LegacyFX Vs Oanda financial regulation and licensing side by side below.

LegacyFX Vs Oanda Education Resources Compared

We compare LegacyFX and Oanda educational resources below.

LegacyFX Vs Oanda Risk Management Features

When trading with either LegacyFX or Oanda you will want to understand and make full use of all the risk management features on your LegacyFX or Oanda trading platforms.

We compare side by side the trading risk management features offered by LegacyFX and Oanda below.

LegacyFX Vs Oanda Hedging

What is hedging? Have you ever heard of the expression 'to hedge ones bets'? Hedging means not speculating solely on the outcome of one event, as holding all your assets in one place could be risky. Hedging in finance means being able to trade to protect yourself from huge risks by limiting risk using diversification. Hedging can be done, for example, by speculating on a stock to rise and against it to rise by using different amounts or different amounts of leverage.

LegacyFX does not offer clients hedging, while Oanda does not offer clients hedging.

LegacyFX Vs Oanda Stop Loss

Stop loss orders are very useful for more volatile investments, especially when speculating on a stock or Forex currency pair. In a normal trade, you cannot lose more than what you invested, but this is not the case when you are using leverage. Under these terms, it is always good to set a stop loss to protect yourself from any vicious results.

Both LegacyFX and Oanda do offer clients stop losses. Stop Loss and Take Profit are not guaranteed on LegacyFX or Oanda. You must still monitor any live trades and your financial exposure and financial risk.

LegacyFX Vs Oanda Limit Orders

Every broker should allow users to place a limit order. Limit orders are when you have the order to buy a financial instrument at a specific price. Your trade will be executed when the financial asset hits a set price. Limit orders are extremely useful as they allow you to buy stock at a better price! It would be very time-consuming to wait for a stock to fall to a price you would ultimately be satisfied by. Therefore, you can already imagine what helping limit orders can be in your trading career.

Both LegacyFX and Oanda do offer clients limit orders.

LegacyFX Vs Oanda Negative Balance Protection

Negative balance protection is there to protect its customers. Customers need protection as trading can be volatile, and not everybody who invests knows the full consequences of their trade.

Negative balance protection works like this: Say you invest $50, but your trade can lose $125 because you have used leverage. You will need $125 available in your account to do this trade. Negative balance protection is essential, as it would be unfortunate if you received an unexpected bill from a broker one day.

Both LegacyFX and Oanda do offer clients negative balance protection.

LegacyFX Vs Oanda Verdict

We hope this LegacyFX Vs Oanda guide has helped you decide who is best to trade with out of LegacyFX and Oanda.

When choosing a broker like LegacyFX or Oanda for trading, it's important to ensure your money is held in a segregated bank account. Your live trading funds with LegacyFX or Oanda are kept separate from the broker's funds and can be returned to you if the broker faces financial difficulties or insolvency when signing up with brokers such as LegacyFX or Oanda, it's crucial to verify that they offer this safeguard. By doing so, you can have greater peace of mind and confidence in the safety of your funds as you engage in trading activities with LegacyFX or Oanda.

Also, before you sign up with online brokers like LegacyFX or Oanda, make sure you know what you are doing. Simple advice, we admit, but we know from experience how many people decide to start trading and then ask questions later. Please know what you are doing with LegacyFX or Oanda before investing money into something.

Beware of the risks that come with trading with LegacyFX or Oanda. The financial markets can be volatile, and investments can go down and up. Educate yourself, and use all LegacyFX and Oanda educational resources and financial research tools. If you are new to trading, sign up for a demo account with LegacyFX and Oanda to find which suits you and your trading style.

Some of you might be thinking about what we mean when we say 'trading style'. Here are a few examples. A day trader using LegacyFX or Oanda will look to open positions and close them on the same day. Day trading in this way will require a broker that specialises in this. To do this with some brokers would be a bad idea because of the commission and fees involved. Check if LegacyFX and Oanda fees match your trading requirements.

Alternatively, you could be on the end of this scale and decide to wait years before you close your investments with LegacyFX or Oanda if your investment strategy is more long-term.

LegacyFX and Oanda Alternatives

If LegacyFX and Oanda are not what you are not quite what you are looking for we list some of the best LegacyFX and Oanda alternatives below.

Other LegacyFX and Oanda Vs Comparisons

If you are still looking for an alternative to LegacyFX and Oanda and want to see how LegacyFX or Oanda compares Vs other brokers check out the LegacyFX Vs and Oanda Vs list below.

LegacyFX Vs Alternatives

Still not happy have a look at some of our alternative LegacyFX Vs side by side comparisons below

• LegacyFX vs IC Markets
• LegacyFX vs Roboforex
• LegacyFX vs eToro
• LegacyFX vs XTB
• LegacyFX vs XM
• LegacyFX vs Pepperstone
• LegacyFX vs AvaTrade
• LegacyFX vs FP Markets
• LegacyFX vs easyMarkets
• LegacyFX vs SpreadEx

Oanda Vs Alternatives

Still not happy have a look at some of our alternative LegacyFX Vs side by side comparisons below

• Oanda vs IC Markets
• Oanda vs Roboforex
• Oanda vs eToro
• Oanda vs XTB
• Oanda vs XM
• Oanda vs Pepperstone
• Oanda vs AvaTrade
• Oanda vs FP Markets
• Oanda vs easyMarkets
• Oanda vs SpreadEx

LegacyFX Vs Oanda Frequently Asked Questions

We answer some of the most frequently asked LegacyFX Vs Oanda questions below.

Is LegacyFX any Good?

Knowing that a broker is legit is the first thing you should check before signing up with a broker. Is LegacyFX legit? - LegacyFX are regulated by Cyprus Securities and Exchange Commission (CySEC)(344/17), Bafin (Federal Financial Supervisory Authority) and have been in business since 2012

Is Oanda any Good?

Oanda are regulated by CFTC (Commodity Futures Trading Commission) (0325821), NFA (National Futures Association), IIROC (Investment Industry Regulatory Organization of Canada), FCA (Financial Conduct Authority) (542574), MAS (Monetary Authority of Singapore), ASIC (Australian Securities and Investments Commission) (412981), Kanto Bureau (Kanto Local Financial Bureau) (2137), BVI FSC (British Virgin Islands Financial Services Commission) (SIBA/L/20/1130), PFSA (Polish Financial Supervision Authority) (KPWiG-4021-54-1/2004). and have been in business since 1996.

Which is better LegacyFX or Oanda?

LegacyFX and Oanda do not have a high rating, so we recommend trading with a more reputable alternative broker.

Is LegacyFX a con?

LegacyFX is regulated by Cyprus Securities and Exchange Commission (CySEC)(344/17), Bafin (Federal Financial Supervisory Authority) and have been in business since 2012. LegacyFX is most definitely not a con as they are regulated by major financial regulators.

Is Oanda a con?

Oanda is regulated by CFTC (Commodity Futures Trading Commission) (0325821), NFA (National Futures Association), IIROC (Investment Industry Regulatory Organization of Canada), FCA (Financial Conduct Authority) (542574), MAS (Monetary Authority of Singapore), ASIC (Australian Securities and Investments Commission) (412981), Kanto Bureau (Kanto Local Financial Bureau) (2137), BVI FSC (British Virgin Islands Financial Services Commission) (SIBA/L/20/1130), PFSA (Polish Financial Supervision Authority) (KPWiG-4021-54-1/2004). and have been in business since 1996. We recommend looking at a Oanda alternative that has more financial regulation.

What happens if LegacyFX or Oanda go bust?

LegacyFX and Oanda are regulated, which means that as part of their regulatory obligations LegacyFX and Oanda have to offer a certain level of financial protection to their clients. LegacyFX and Oanda should by law keep client funds separate from LegacyFX and Oanda funds. If either LegacyFX or Oanda goes bankrupt, they should not have access to your money. Customer accounts should be segregated. A financial services compensation scheme differs from country to country, so check this on the LegacyFX and Oanda websites and regulators.

Are LegacyFX or Oanda good for beginners?

LegacyFX and Oanda offer low deposits and access to a selection of market insights and news resources. Both LegacyFX and Oanda offer demo accounts. Demo trading accounts are a big plus for LegacyFX and Oanda as it shows they are interested in their customers.