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City Index vs LegacyFX 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is City Index better than LegacyFX? In our analysis of 23 international regulators across 39 of the best forex brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. LegacyFX is considered average-risk, with an overall Trust Score of 75 out of 99. Learn more about Trust Score.

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Overall RatingCity IndexLegacyFXIG
Overall Rating5 Stars3.5 Stars5 Stars
Commissions & Fees4.5 Stars3.5 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4.5 Stars3.5 Stars5 Stars
Mobile Trading5 Stars3.5 Stars5 Stars
Research4.5 Stars3.5 Stars5 Stars
Education4.5 Stars3.5 Stars5 Stars
Trust Score997599
Winnercheck_circle
ReviewCity Index ReviewLegacyFX ReviewIG Review
RegulationCity IndexLegacyFXIG
Trust Score997599
Year Founded198320121974
Publicly Traded (Listed)YesNoYes
BankNoNoYes
Tier-1 Licenses317
Tier-2 Licenses212
Tier-3 Licenses101
Authorised in European UnionYesYesYes
About RegulationA “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)City IndexLegacyFXIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)YesNoNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)NoNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)City IndexLegacyFXIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)YesYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesNoYes
Tier-3 Licenses (Low Trust)City IndexLegacyFXIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)YesNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsCity IndexLegacyFXIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)1350042519537
Forex Pairs (Total)8441100
U.S. Stock Trading (Non CFD)NoNoYes
Int'l Stock Trading (Non CFD)NoNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
CostCity IndexLegacyFXIG
Average Spread EUR/USD - Standard1.0 (July 2022)00.86 (September 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)00.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerNoNoYes
Execution: Market MakerYesNoYes
FundingCity IndexLegacyFXIG
Minimum Initial Deposit£100.00$500£250.00
PayPal (Deposit/Withdraw)YesNoYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsCity IndexLegacyFXIG
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)YesNoYes
MetaTrader 5 (MT5)NoYesNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsCity IndexLegacyFXIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields11714
Charting - Indicators / Studies (Total)883033
Charting - Drawing Tools (Total)811520
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingCity IndexLegacyFXIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesNoYes
Mobile Charting - Indicators / Studies883033
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesNoYes
ResearchCity IndexLegacyFXIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesNoYes
AutochartistNoYesYes
Trading Central (Recognia)YesNoNo
Social Sentiment - Currency PairsYesNoYes
Economic CalendarYesYesYes
EducationCity IndexLegacyFXIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsCity IndexLegacyFXIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewCity Index ReviewLegacyFX ReviewIG Review
OverallCity IndexLegacyFXIG
Overall Rating5 Stars3.5 Stars5 Stars
Commissions & Fees4.5 Stars3.5 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4.5 Stars3.5 Stars5 Stars
Mobile Trading5 Stars3.5 Stars5 Stars
Research4.5 Stars3.5 Stars5 Stars
Education4.5 Stars3.5 Stars5 Stars
Trust Score997599
Winnercheck_circle
ReviewCity Index ReviewLegacyFX ReviewIG Review
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City Index vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs LegacyFX.

Does City Index or LegacyFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is City Index or LegacyFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. City Index holds 3 global Tier-1 licenses, while LegacyFX holds 1. City Index holds 2 global Tier-2 licenses, while LegacyFX holds 1. In our analysis of 23 international regulators across 50 brokers, City Index earned a higher Trust Score than LegacyFX.

Which trading platform is better: City Index or LegacyFX?

To compare the trading platforms of both City Index and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.City Index and LegacyFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to LegacyFX's 41 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while LegacyFX has 425 available CFDs, a difference of 13075.

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).

Can I trust LegacyFX?

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). LegacyFX is authorised by the following tier-1 regulators: Financial Conduct Authority (FCA).

Is City Index good?

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.

Is LegacyFX good?

LegacyFX is a plain-vanilla MetaTrader 5 (MT5) broker that offers a medium range of CFD markets and forex pairs. It has built a good foundation of research offerings, and its investor education content is on par with the industry average. Overall, LegacyFX still has room to grow, and trails behind the best MetaTrader brokers.

Overall winner: IG

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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