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City Index vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is City Index better than LegacyFX? In our analysis of 23 international regulators across 62 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 66 out of 99. Learn more about Trust Score.

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Overall RatingCity IndexLegacyFX
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 3.5/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 67
Winner check_circle
Review City Index Review LegacyFX Review
RegulationCity IndexLegacyFX
Trust Score 99 67
Year Founded 1983 2012
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 3 0
Tier-2 Licenses 2 1
Tier-3 Licenses 1 1
Tier-1 Licenses (High Trust)City IndexLegacyFX
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)City IndexLegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)City IndexLegacyFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) Yes No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No Yes
InvestmentsCity IndexLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 13500 425
Forex Pairs (Total) 84 44
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Disclaimers 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 IndexLegacyFX
Average Spread EUR/USD - Standard 1.0 info N/A
All-in Cost EUR/USD - Active 1.0 info N/A
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingCity IndexLegacyFX
Minimum Deposit £100.00 $500
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsCity IndexLegacyFX
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsCity IndexLegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 11 7
Charting - Indicators / Studies (Total) 88 30
Charting - Drawing Tools (Total) 81 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingCity IndexLegacyFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 88 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchCity IndexLegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationCity IndexLegacyFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsCity IndexLegacyFX
GBP/USD Yes Yes
USD/JPY Yes Yes
EUR/USD Yes Yes
USD/CHF Yes Yes
USD/CAD Yes Yes
NZD/USD Yes Yes
AUD/USD Yes Yes
Review City Index Review LegacyFX Review
OverallCity IndexLegacyFX
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 3.5/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 67
Winner check_circle
Review City Index Review LegacyFX Review
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City Index vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 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, City Index 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 0. 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, City Index offers a better experience. With research, City Index offers superior market research. Finally, we found City Index 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 44 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 zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

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: City Index

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announcementPlease note:

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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